Be honest… how many times did you say “I’m done with Bitcoin” and still come bac

[bhadz]

Since I began this journey in crypto, I've honestly never seen any enough reason to want to quit, I mean; why? Scam? I've been scammed one time and that thought me to be careful never to be a victim again, and since then, I've not been a victim.

I have also been scammed before, many times. But that didn't stopped me from learning from that mistake and standing on my own until I know how to avoid them. It's the same with owning Bitcoin. I missed profiting before in the past cycles and I've learned from that time as well. That's why I made sure that I won't quit and will take some profits if the bull run has come again and that's to satisfy myself from what I've learned in the past cycles that I didn't do that much. It tends out to be a good decision after all, so, we might say that we're done and we want to quit. But let that ego get you when you know that there's the bigger thing that's coming for you with bitcoin.

[Hazink]

Usually such thing happens with newbies especially, but if they get their facts and head straight, they will understand it's not the end of the line, but a chance for a new beginning for them.

A chance for new beginnings and most of them usually feel the way they feel and react due to entering the market with the wrong mindset either who brought them in did not inform them or they just choose to ignore them in such market conditions, they will have to learn the hard way and get informed. If they can't, then they will have to leave the market.

[gunhell16]

I haven't really considered that kind of approach for Bitcoin, because I'm thinking of it for the long-term. That's why all I'm doing right now is DCA (Dollar-Cost Averaging) and waiting, and I plan to do this for several more years before I reach the point of selling it at my target price. Personally, I think this could happen around 2028 or 2029.

But for now, a fairly long period of DCA is really what's going to happen, especially since we are approaching or are just about to enter a bear market. I know that many of us here have been expecting this kind of scenario in the crypto space anyway.

[Zoomic]

I haven't heard the clause " I'm done with bitcoin" before.
What I usually hear is "I'm done with crypto" and when you hear such statements, know that the person has involved himself with shitcoins gambling.
Anyone who knows how bitcoin works will never make such a statement about bitcoin.

[Finestream]

I did my bitcoin research prior to entering the market, so before I decide to buy bitcoin, I've known the risks already and that any time losses will be possible if I chose to sell at a lower price. So this kind of question isn't that much applicable for me. Though I've faced some tough times while trying to make profits, but those are still manageable. I've overcome them because I'm not here for instant profits but for long term investment and retirement. Until now, that's still my mindset so I can't think of any reason leaving bitcoin for good.

[Vaculin]

If you are here to trade and expect instant profits, maybe you will experienced that many times, unfortunately I was not that type of person. I entered bitcoin investment so I can prepare for a brighter future, hoping that this simple buying and holding for long term will reward me in the end, not that big but enough to change the status of my finances.

However, those who may often saying this are probably those who are impatient to wait when will bitcoin give them their expected profits, when in reality bitcoin shouldn't be rushed as its originally created not just a good currency but a reliable long-term investment as well.

[SquirrelJulietGarden]

I did my bitcoin research prior to entering the market, so before I decide to buy bitcoin, I've known the risks already and that any time losses will be possible if I chose to sell at a lower price. So this kind of question isn't that much applicable for me. Though I've faced some tough times while trying to make profits, but those are still manageable. I've overcome them because I'm not here for instant profits but for long term investment and retirement. Until now, that's still my mindset so I can't think of any reason leaving bitcoin for good.

If you and the others did enough research about Bitcoin technically to Bitcoin market, it's more likely to make good decisions in the market and get profit. The saying "I am done with Bitcoin" seems to come from people who are losers in the market, and they said it when their mood is bad with loss from their actions in the market.

There are many reasons and ways to get loss in the market, like rather than investment, they did trading, with Spot, Margin and Futures trading. They also can have loss with investment if they did it wrongly with bad financial, investment capital and risk management.

They can have loss by FOMO purchasing and panic selling, but if they can not change themselves, they will rejoin the market with similar ways.

Bitcoin market is attractive as most days of holding bitcoins are profitable days and Bitcoin price grows with time.
https://www.bitcoinmagazinepro.com/charts/bitcoin-profitable-days/
https://charts.bitbo.io/yearly-candles/

[bitbollo]

Never. I had just few months where I was not fully focused on the argument (due personal issues).
Otherwise... the network is here! Bear market? Cycle? All of this is nothing new ...
Initially bitcoin was used because not of the value but for the innovation provided. This must be nowadays the only reason to not give up.

[SquirrelJulietGarden]

Never. I had just few months where I was not fully focused on the argument (due personal issues).
Otherwise... the network is here! Bear market? Cycle? All of this is nothing new ...
Initially bitcoin was used because not of the value but for the innovation provided. This must be nowadays the only reason to not give up.

Nothing is truly new as Bitcoin market has its history and its own rhythms. If people do enough research about Bitcoin market history, they will understand well about Bitcoin market rhythms from price cycle to psychology cycle.

There is no 100% overlaps cycle by cycle but the rhythmic patterns are very similar and if people understand about it, they will be more ready to invest money in Bitcoin and hold their bitcoins through both bear market and bull market without fomo or panic. There is very little people can do it as challenge from knowledge to practice is very big and practice is harder than getting knowledge about Bitcoin market.

Most people can understand about Bitcoin market but they fail to control their psychology, emotion and action as well as fail to manage their finance and investment capital safely.

[CryptoYar]

[...]

Your long term investment choice to buy and hold BTC for long time to make your future money situation better is good, since BTC is like digital gold and so great way to save and grow money over many years. You are right that trying to get rich fast mostly leads to bad choices in buying and selling, since BTC works on four year cycle where number of new coins made is cut in half, which in past causes price to go up much the next year or so, and so people who wait and do not look at the daily price changes are the ones who will get most reward in the end.

[LouVandetta]

You know what, every time bitcoin in a bearish kind of cycle, I have always say that I'm done. And that statement lasted only for a few days lol. I mean like, maybe I just needed that time off from crypto world and come back stronger and with a calm mind. I was never a long term holder of any coins since I always try to get my target profit and just let it stay in stable coin after. With how unstable and volatile the markets are, chances of the worse are most likely to happen. No matter how careful you are with your technical research and all.

[lizarder]

Man, you just described the trader's loop. We've all been there swear it off after a loss, then FOMO back in when the charts go green. It's like a bad relationship you can't quit.
Here’s the real talk: Trading is gambling for most people. The "interest" you feel is the same rush a gambler gets watching the slots. Bitcoin investing is boring: you buy, you wait, you win. Trading is exciting and that’s why it’s dangerous.

Separate your money: One stack for long-term Bitcoin (never touch it). One tiny "play money" stack if you must trade and accept it’s likely gonna vanish.

I'm not talking about someone's implementation or performance in investing or trading, but I'm explaining how one can say the same thing when engaging in trading or investing based on specific losses or gains. For investing, it's probably obvious that we use separate money from trading activities, and generally, our investments in Bitcoin take a long-term approach, even though waiting can be tedious. I keep my trading money separate, and generally, the capital I use is prepared to experience losses because trading doesn't always result in profits.

I also don't trade like I'm involved in gambling and probably shouldn't give up because of previous trading losses. Instead, we should try to evaluate our trading mistakes. This way, we can slowly make better adjustments, and trading won't always result in losses every time. When we view trading as a less desirable option, the decision to abandon it and try investing is much more informed and much more precise.

[Antona]

You know what, every time bitcoin in a bearish kind of cycle, I have always say that I'm done. And that statement lasted only for a few days lol. I mean like, maybe I just needed that time off from crypto world and come back stronger and with a calm mind. I was never a long term holder of any coins since I always try to get my target profit and just let it stay in stable coin after. With how unstable and volatile the markets are, chances of the worse are most likely to happen. No matter how careful you are with your technical research and all.

I get the impulse to take profits, it feels safe. But just playing devil's advocate here constantly jumping in and out and trying to time the market is super stressful and, ngl, most people get burned doing that long-term. You might miss the biggest green days which often happen right after the worst red ones. Maybe consider DCA'ing a small portion into BTC/ETH for the long haul so you don't feel totally out of the game? Just a thought.

[Awaklara]

What made you “quit” the first time?
And what dragged you back?

I have stopped buying or trading Bitcoin before, but I never said I was done with Bitcoin. If I'm not mistaken, it happened during the decline in the early quarter of 2022. My finances at that time were not good. Looking at my portfolio, there were losses. That made me refrain from selling or buying. There was no other reason, because basically, I have convinced myself to invest in Bitcoin again when my financial situation improves.

[Dunamisx]

I don't think I've come into such conclusion yet, but its very much possible that I've seem a number of people who have been complaining and saying the same thing, that they are done with gambling after losing and probably feels being cheated, which i see the reason why we should not take it for anything other than entertainment, because there lies the fun, we may not always win as we expected after playing.

[retreat]

I never quit when I saw the Bitcoin price drop - I've always believed that price drops are simply a natural occurrence and that the price will eventually recover. Because Bitcoin has potential, and the price drop is only a short-term one, if we look long-term, we can see that Bitcoin has consistently risen due to its adoption rate and the influx of new investors. So, it's all about trust in Bitcoin. Those who are weak will likely exit immediately when faced with a price drop, while those who believe in its long-term value will hold firm.