The Psychology of Investing in Bitcoin

[mindrust]

It is not much different than investing in any other asset really. Let’s say you bought AAPL shares when it was $10, how much is it lately? Must be around $200. That’s x20 profits which is enough to make anybody rich. That kind of increase would turn your $50k into a million USD. The problem is, you would probably sell your shares when you make x2 profits. The same psychology applies to bitcoin holders as well. People can’t wait till they get filthy rich. When your assets go down, it is much easier to be a long term investor because it is stupid to sell at a loss. Sitting on profits, that’s the hardest part of holding.

[1714621085]

1714621085

[passwordnow]

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive?

Always. I've always felt that when Bitcoin takes a huge leap and whenever there's a nosedive. Although we can say that we've been here for quiet a while but we still feel that emotion and disappointment whenever the nosedive happens. And the happiness is there when the new high comes or with simple pumps that's pushing away from the low that we've been through.

Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill?

For profits, for the tech and for thrill? most likely not for the thrill. But for the former, I'd say that all of us are in for that.

Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

Yeah, it's not just about the charts but also the emotions that we're having. If we can't be good with this then the probability of surviving the baddest moments of the market is very low. We have to bear into our minds that the market isn't truly about those numbers but also the news that we're getting and fundamentals and adoptions that's very important.

[Deddyhoku]

Im in crypto for several years and already don't feel anything from it expept really big moves. So, i just dcaing in ownr without emotions, nothing intresting

[Ale88]

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

Personally I have a weird relationship with bitcoin because I think that I'm always happy and sad at the same time: happy because I feel lucky I had the chance to buy a little when the price was cheaper than today's price; sad because I would like to buy a little more but of course it requires time because I need to accumulate more money before, and in the meantime the price keeps going up and up.

[Furious 7]

Profit and pleasure are different conditions but what I feel right now are all in the goals that I do in my investment in bitcoin.
First because the profits for the future are better that's why I'm here but on the other hand this also gives me pleasure because I really like what I'm doing so I'm not burdened by this.

I am not a trader but on the other hand I am also not a lifelong Hodler because after all I invest until my goal is reached in bitcoin and when I have determined the profit we want to achieve and the profit is obtained I will start a new plan so I am not someone who is a lifelong holder because after all my goal is to invest here is for profit and I don't want to be a hodler. investing here is for profit and I don't want to be naive about this so when the profit I want is enough then I will leave even though it seems that this is only the utilization of bitcoin but indeed my goal from the beginning was clear about profit so I don't want to be a lifelong hodler because I also need to enjoy the results of the investment I made.

[Z-tight]

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

Weak hands don't buy BTC when the price is low, they wait until the price starts to rise or is rising and then they start buying in order to try and 'get rich' quick, too many of them find out the hard way that BTC is not a get rich quick scheme. However, people have different reasons why they buy BTC, there is no one reason why everyone buys BTC and it is fine, BTC has different use cases and you have to choose which one you want to take advantage of. But in as much as that is the case, we cannot forget the original reason BTC was created, and that is as p2p electronic cash that is censorship resistant and permissionless.

[Vinaa77]

Personally I have a weird relationship with bitcoin because I think that I'm always happy and sad at the same time: happy because I feel lucky I had the chance to buy a little when the price was cheaper than today's price; sad because I would like to buy a little more but of course it requires time because I need to accumulate more money before, and in the meantime the price keeps going up and up.

Everyone certainly has an interesting experience in the process of holding Bitcoin and we are all sure about the benefits we will get when choosing to collect Bitcoin and we all have our own strategies in the process of collecting a number of Bitcoin according to our abilities. We all have the desire to be able to collect when prices are low and not everyone can collect and we can only collect according to our abilities.

[aylabadia05]

Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between.

We will not always be holders for life with the intention that at a certain time we will also spend Bitcoin.
It is not wrong if someone says that whether investing in Bitcoin is complicated or not depends on the person, not the method. I agree with that because investing in Bitcoin is quite simple and very different from the trading done by those interested in making short-term profits.

After all, the Bitcoin market isn't just about charts and numbers.

It is true that the Bitcoin market is not just about charts and numbers, but without trying to monitor price charts, we have no idea what is going on and what the market conditions are.

[Hamphser]

Personally I have a weird relationship with bitcoin because I think that I'm always happy and sad at the same time: happy because I feel lucky I had the chance to buy a little when the price was cheaper than today's price; sad because I would like to buy a little more but of course it requires time because I need to accumulate more money before, and in the meantime the price keeps going up and up.

Everyone certainly has an interesting experience in the process of holding Bitcoin and we are all sure about the benefits we will get when choosing to collect Bitcoin and we all have our own strategies in the process of collecting a number of Bitcoin according to our abilities. We all have the desire to be able to collect when prices are low and not everyone can collect and we can only collect according to our abilities.

When we do talk about financial capability then it would really be that entirely be that different into each other on each person on which we know that different capability and different sources and conditions specially
on income stream and this is why the moment that they would really be making out such investment would really be that depending basing up into those capabilities. This is why it would really be that
just better that you should really be mindful on your own when it comes to this on which not all would really be that thinking up the right way but rather they do make out some actions which is something that
could be putting them on harm because they have overlooked on the risked involve on which instead that they would be doing such action but rather they had done the different.

[nimogsm]

Im in crypto for several years and already don't feel anything from it expept really big moves. So, i just dcaing in ownr without emotions, nothing intresting

oh, I understand you. It’s exactly the same for me, literally in the first years my mood was often associated with the price of Bitcoin, since you’re always worried that it’s rising or falling, but after so many years it became somehow all the same, since practice has shown that the longer you hold the greater the profit over the long term.

[Distinctin]

No one comes hodling for life but buy and hold at a certain time and sell when when the desired price is achieved. Now, talking about the roller coaster emotions when investing in bitcoin, I always think that’s just normal for a very volatile investment like bitcoin. If you are not capable to respond to it accordingly, you will end up at a loss. What’s more important is you never let your emotions do the decision making, but always use your mind and let your knowledge and experience rule over your emotions.

[BITCOIN4X]

~Snip

We will not always be holders for life with the intention that at a certain time we will also spend Bitcoin.

Of course, unless you lose all access to your wallet.
Each investor has set their own goals from the start, but some may still change their time frame midway due to various reasons. Long-term potential and strong fundamentals may make some investors change their initial plans and wait a little longer, but the ultimate goal of investing is to realize returns.

It is not wrong if someone says that whether investing in Bitcoin is complicated or not depends on the person, not the method. I agree with that because investing in Bitcoin is quite simple and very different from the trading done by those interested in making short-term profits.

In general, the way to invest is the same and there is nothing different, but there are several approaches that enable investors to enter at a better time than other investors. Knowledge and good analytical skills will reflect who they are, but the ultimate goal of the investor will not change regardless of when they make entry.

[Youngkhngdiddy]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

   The market is made up of individual investors, all whom share the same cognitive biases and irrational tendencies. So one might expect that this market is incredibly irrational and filled with flawed prices! Actually, the market can be fairly priced despite this. Known as the wisdom of crowds, the theory states that the errors of each individual prediction tend to cancel each other out. In other words, all of the investors that irrationally guess an inordinately high price are balanced by the investors that irrationally guess an inordinately low price and overall the price can turn up remarkably accurate! If an investor is serious about making good choices with their investments, they must try very hard to set emotions aside and rely on cold calculation and logic to guide them. This is not easy to do.
   Understanding trading psychology is a game-changer in the world of investments. It equips you to navigate the emotional roller coaster of markets, make rational decisions under pressure, and maintain discipline. Ultimately, it enhances not only decision-making but also your overall investment strategies. Embrace the psychological aspect, and you'll likely find yourself better equipped to weather the storms and capitalize on opportunities.

[aylabadia05]

We will not always be holders for life with the intention that at a certain time we will also spend Bitcoin.

Of course, unless you lose all access to your wallet.
Each investor has set their own goals from the start, but some may still change their time frame midway due to various reasons. Long-term potential and strong fundamentals may make some investors change their initial plans and wait a little longer, but the ultimate goal of investing is to realize returns.

Since you have mentioned access to wallets, I would like to add that that is the first part after they learn about Bitcoin and the purpose of investing in Bitcoin. People often look for convenience and don't want complexity in investing. By complicated, I mean they want to be practical when buying and tend to leave it stored on the exchange where they bought because if they move it to a special wallet, then they have to pay another fee.

This practice is wrong and puts them at great risk to their Bitcoin holdings.
Want a long-term investment that is safe against loss, of course the Bitcoin storage wallet is not on an exchange. This has been repeatedly conveyed by many people who care about asset integrity.

[freedomgo]

You know, that’s what makes bitcoin investment more exciting and thrilling because it’s highly capable to change its price movement all of a sudden that leaves us frustrated when there is price decline and overjoyed when the price suddenly reaches its all time high. For most of us, that’s something to be amazed of but for someone who is deeply emotional and gets easily fainted, I suggest you stay away from volatile investments like bitcoin.

[Asuspawer09]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

I mean that's a normal thing right it's the FOMO that is gonna hit every time the market price starts to skyrocket and we always feel like we need to buy but more so that we could make a possible profit in the future, For sure the thrill is a part of it already I mean if you make a profit with just trading your kinda proud of that, the up and downs is just part of the game, probably that's what makes the movement exciting for most of the trading because it makes us happy when we make the right decision and at the same time it's not always winning because you could lose as well for the most part.

But for sure having the feeling of rush in investing is just part of your emotion, and if you let your emotions decide you might lose money, In my years of investing in Bitcoin I learned to hold for the long term and it's not really easy since you need to ignore the market for the most part, that is going to be difficult for some people who really just relay on Bitcoin and doesnt have a financial foundation.

[Fara Chan]

Im in crypto for several years and already don't feel anything from it expept really big moves. So, i just dcaing in ownr without emotions, nothing intresting

If you feel there is nothing interesting anymore in crypto, of course you also don't need to hope for more in crypto, even though currently there are still many people who still believe in it. And hope for more through crypto with full confidence that crypto is still quite interesting and capable of bringing changes that are more feasible for everyone who still believes in it.

oh, I understand you. It’s exactly the same for me, literally in the first years my mood was often associated with the price of Bitcoin, since you’re always worried that it’s rising or falling, but after so many years it became somehow all the same, since practice has shown that the longer you hold the greater the profit over the long term.

I think all of these things will definitely boil down to the level of confidence of each of us in holding because on the one hand we also shouldn't equate someone's level of confidence to be more or equal to our own level of confidence in holding Bitcoin as an asset that has been proven to be good. Because those who are used to holding Bitcoin for the long term will definitely feel the benefits and this has really been proven through Bitcoin so I also have to really understand it when there are newbies who say there are no more interesting things in crypto.