Is holding Bitcoin harder financially or psychologically?

[Localhostspeed]

Yeah holding Bitcoin isn't easy So speaking from a broad perspective I like to believe that most crypto/Bitcoin enthusiast has what makes the Bitcoin accumulating journey hard for them. Unfortunately most folks will say psychology, most will say financially, and some will eventually say both.But to me when it comes to the Bitcoin long term investment you have to be financially prepared and psychologically fear, panic, and stress free. Like basically you can't do without the other, in the sense that when you are financially stable and prepared, if you take more time to build your psychology properly, indeed there is no guarantee that you won't sell, but you wouldn't sell irrationally when there is a market downturn.....

Overall in Bitcoin investment starting small is very good. But if you can't build your psychology very well  you won't be able to pass through the long term journey. And the best part of it all is, as you continue to hold you will eventually continue to gain experience and more knowledge.so That's just it.....

Holding is hard if we are been real but how do you do it as a first timer depend on what you want to do. If you dedicate your life that you want to hold Bitcoin and not look at the surrounding, the things happening in the market, then you can do it. Ask yourself, if Saylor can hold billions of dollars to buy Bitcoin and hold for long periods of time, then you have no excuses not to hold Bitcoin for a long period of time unless you are not ready for the long term commitment.

There is nothing in what you want to do that another person hasn't done it before, just close your eye and do it. The problem is that many people are after an investment to make quick profits, though Bitcoin used to be a place where you can doube your money for holding in a bull cycle but as the market mature, it's reducing gradually. A time will come when everyone will have to wait for sometime to make some profit and who knows smaller return on investment.

[Strongkored]

And if you have been through a full cycle, what was your biggest psychological challenge?

Continuing to believe that holding longer will yield more profit than selling sooner, and how to remain confident during a significant decline that it's a temporary correction, even if it's caused by current trending events.
Holding Bitcoin isn't easy. Holders must not only deal with psychological pressures but also maintain the security of their Bitcoins to prevent hackers from accessing them.

[Hanadawa]

And if you have been through a full cycle, what was your biggest psychological challenge?

Continuing to believe that holding longer will yield more profit than selling sooner, and how to remain confident during a significant decline that it's a temporary correction, even if it's caused by current trending events.
Holding Bitcoin isn't easy. Holders must not only deal with psychological pressures but also maintain the security of their Bitcoins to prevent hackers from accessing them.

For me personally, holding Bitcoin for one or two cycles without selling is not easy, and I'm not sure I can hold it that long. I think it's natural to want to realize profits when the price has risen several times over the purchase price. However, as a holder, you shouldn't be greedy and sell all your Bitcoin because you feel you've already generated a substantial return. Some stories of people selling Bitcoin in 2013 and 2014 stem from significant gains after several years of stagnation. The same thing happened in 2017 and 2021, when Bitcoin's price rose drastically.

[Ahli38]

Yeah holding Bitcoin isn't easy So speaking from a broad perspective I like to believe that most crypto/Bitcoin enthusiast has what makes the Bitcoin accumulating journey hard for them. Unfortunately most folks will say psychology, most will say financially, and some will eventually say both.But to me when it comes to the Bitcoin long term investment you have to be financially prepared and psychologically fear, panic, and stress free. Like basically you can't do without the other, in the sense that when you are financially stable and prepared, if you take more time to build your psychology properly, indeed there is no guarantee that you won't sell, but you wouldn't sell irrationally when there is a market downturn.....

Overall in Bitcoin investment starting small is very good. But if you can't build your psychology very well  you won't be able to pass through the long term journey. And the best part of it all is, as you continue to hold you will eventually continue to gain experience and more knowledge.so That's just it.....

It cannot be denied that investing in Bitcoin requires financial maturity and even preparing for it requires good risk management. Investing in Bitcoin also requires good self-management in order to remain calm when market volatility causes panic. So I personally think that both need to be well developed in a person in order to go through the long journey of investing in Bitcoin. Experience and even knowledge can actually be gained from anywhere. But personal experience is the most influential factor in building maturity in investing in Bitcoin. And the most important thing is to continue learning to increase knowledge or even gain experience. The fundamentals within oneself will develop well on their own.

[hero_the_bossman]

And if you have been through a full cycle, what was your biggest psychological challenge?

Continuing to believe that holding longer will yield more profit than selling sooner, and how to remain confident during a significant decline that it's a temporary correction, even if it's caused by current trending events.
Holding Bitcoin isn't easy. Holders must not only deal with psychological pressures but also maintain the security of their Bitcoins to prevent hackers from accessing them.

The easy way is just not looking at your bags or put the minus or plus on the shelf before it hits your TP.

Or have a message that it's there, not overthinking the micro events that unfold. Nerves are the thing we cannot buy back.

[N9_Ninja]

For me it’s definitely more psychological than financial.

Buying is easy. Holding is not. The hardest part is staying calm during long boring periods and not second-guessing yourself every time the price moves or doesn’t move at all.
Crashes hurt, but doubt during sideways markets hurts more. That’s usually when people give up.

Just my two sats.

[FortuneFollower]

For me it’s definitely more psychological than financial.

Buying is easy. Holding is not. The hardest part is staying calm during long boring periods and not second-guessing yourself every time the price moves or doesn’t move at all.
Crashes hurt, but doubt during sideways markets hurts more. That’s usually when people give up.

Just my two sats.

It's not hard when you know why you do it and why BTC will be afloat through the years to come.

[Royal Cap]

Holding is hard if we are been real but how do you do it as a first timer depend on what you want to do. If you dedicate your life that you want to hold Bitcoin and not look at the surrounding, the things happening in the market, then you can do it. Ask yourself, if Saylor can hold billions of dollars to buy Bitcoin and hold for long periods of time, then you have no excuses not to hold Bitcoin for a long period of time unless you are not ready for the long term commitment.

There is nothing in what you want to do that another person hasn't done it before, just close your eye and do it. The problem is that many people are after an investment to make quick profits, though Bitcoin used to be a place where you can doube your money for holding in a bull cycle but as the market mature, it's reducing gradually. A time will come when everyone will have to wait for sometime to make some profit and who knows smaller return on investment.

In fact, everyone says long term but in reality, when the price goes down a bit, their hands shiver. The most important thing in doing it for the first time is to define your goal. Can you really wait a few years or do you just want quick profits? Personally I think it is easier said than done if holding on with your eyes closed, Michael Saylor can because his ability to take pressure and capital are both at a different level. For ordinary people like us the reality is different. So it is not right to just get carried away by inspiration without understanding your own situation.

[john_egbert]

Holding is hard if we are been real but how do you do it as a first timer depend on what you want to do. If you dedicate your life that you want to hold Bitcoin and not look at the surrounding, the things happening in the market, then you can do it. Ask yourself, if Saylor can hold billions of dollars to buy Bitcoin and hold for long periods of time, then you have no excuses not to hold Bitcoin for a long period of time unless you are not ready for the long term commitment.

There is nothing in what you want to do that another person hasn't done it before, just close your eye and do it. The problem is that many people are after an investment to make quick profits, though Bitcoin used to be a place where you can doube your money for holding in a bull cycle but as the market mature, it's reducing gradually. A time will come when everyone will have to wait for sometime to make some profit and who knows smaller return on investment.

In fact, everyone says long term but in reality, when the price goes down a bit, their hands shiver. The most important thing in doing it for the first time is to define your goal. Can you really wait a few years or do you just want quick profits? Personally I think it is easier said than done if holding on with your eyes closed, Michael Saylor can because his ability to take pressure and capital are both at a different level. For ordinary people like us the reality is different. So it is not right to just get carried away by inspiration without understanding your own situation.

Ordinary people should do the hodling with the right knowledge and (prefferably) knowing what may come to them while they do it themselves (getting the info from other hodlers on the Forum is the easiest way to do that, imo).

When you understand BTC, you don't tremble when the price is down, you embrace the flow of the cycle.

[moneystery]

Continuing to believe that holding longer will yield more profit than selling sooner, and how to remain confident during a significant decline that it's a temporary correction, even if it's caused by current trending events.
Holding Bitcoin isn't easy. Holders must not only deal with psychological pressures but also maintain the security of their Bitcoins to prevent hackers from accessing them.

That's why many holders are unable to hold their Bitcoin for one, two, or more cycles, because they are so affected by price volatility and short-term market sentiment, that when there is a sharp decline or increase they tend to sell or are tempted to take profits too quickly, without trying to hold longer. That psychological pressure testing the patience and conviction of holders, and not many holders are able to be consistent and stick to their long-term plans.

[dunfida]

Holding is hard if we are been real but how do you do it as a first timer depend on what you want to do. If you dedicate your life that you want to hold Bitcoin and not look at the surrounding, the things happening in the market, then you can do it. Ask yourself, if Saylor can hold billions of dollars to buy Bitcoin and hold for long periods of time, then you have no excuses not to hold Bitcoin for a long period of time unless you are not ready for the long term commitment.

There is nothing in what you want to do that another person hasn't done it before, just close your eye and do it. The problem is that many people are after an investment to make quick profits, though Bitcoin used to be a place where you can doube your money for holding in a bull cycle but as the market mature, it's reducing gradually. A time will come when everyone will have to wait for sometime to make some profit and who knows smaller return on investment.

In fact, everyone says long term but in reality, when the price goes down a bit, their hands shiver. The most important thing in doing it for the first time is to define your goal. Can you really wait a few years or do you just want quick profits? Personally I think it is easier said than done if holding on with your eyes closed, Michael Saylor can because his ability to take pressure and capital are both at a different level. For ordinary people like us the reality is different. So it is not right to just get carried away by inspiration without understanding your own situation.

Ordinary people should do the hodling with the right knowledge and (prefferably) knowing what may come to them while they do it themselves (getting the info from other hodlers on the Forum is the easiest way to do that, imo).

When you understand BTC, you don't tremble when the price is down, you embrace the flow of the cycle.

The key on here is that you should be only that investing into the amount on which you can afford to lose and never ever make yourself trying to make some all in kind of investing because this is the primary reason on why people or investors will really be having that psychological stress knowing that the money that they are investing is something that they've been using it as their life savings on which this is a very wrong approach to have. Investing not only with Bitcoin could give out that financial or psychological effects and thats the hard part of it but if we do speak about the level then i can say that financial aspect will always matter most. Why? not everyone does have the capacity when it comes to investing and even lets say that you are knowledgable but you dont have the money then this will be giving out that kind of stress.

Here comes on the psychological aspect on which it will be pertaining into someones approach in their investment on which it do affect them out mentally and emotionally specially of the unpredictable market that they've been dealing into. We do know that when it comes to price movement and profitability will be that totally basing up on how you do deal up with it accordingly.

[CryptoYar]

[...]

It is true that extra cash is key to remaining calm and when people invest their life savings, even slight drop in price will cause them to panic and they will sell at wrong time due to feeling that their survival is at risk. And people who spend more than half of their pay have much higher levels of stress, which stops them from thinking clearly.
People suggest saving six months of cash before you buy Bitcoin now since it gives you safety net in your mind. I absolutely agree with this that you cannot think well when you are worrying about your next meal. And investing money that you cannot afford to lose is nothing but gambling and uses survival way of thinking which only results in failure.

[Finebone]

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So now here is the question, is investing in bitcoin harder because of lack of money or lack of emotional discipline?
And if you have been through a full cycle, what was your biggest psychological challenge?

To answer your question, I will say that holding is more difficult psychologically than just financial barrier because if it's just financial barrier, you can set up an emergency and reserve funds in place during your accumulation and investment journey, that can aid your investment, and helps in making you not to sell when serious emergency situation that may have warrants you to sell off or temper it comes up,  but you see psychological problems, that's where the real problem lies because you need to be strong and use money you can afford to lose, in other not to be emotional towards your investment, because once you are emotionally attached to your Bitcoin investment, you are bound to making emotional and stupid decisions anytime their is a dip in the market, that you shouldn't have made if you are less emotional towards it. So psychologically attached to your Bitcoin investment makes it harder for you to hold than financial problems.

[Rabata]

So now here is the question, is investing in bitcoin harder because of lack of money or lack of emotional discipline?
And if you have been through a full cycle, what was your biggest psychological challenge?

Buying Bitcoin is easy but holding it for the long term is difficult. Generally, there are many investors who are interested in buying Bitcoin but when it experiences a major decline at a point of holding it for the long term, many investors are not able to hold that coin anymore. They panic and withdraw their investment despite suffering a big loss. If an investor is able to hold his Bitcoin at that crucial moment, then there is a high probability of holding Bitcoin for the long term.

There are many who invest money in Bitcoin investment that they cannot hold for a long time. Those investors may sell their Bitcoin before achieving the set goal. In order to hold Bitcoin for the long term, the investor has to invest his discretionary income or keep the money that will not affect his personal life even if he holds it for a long time. That is why although holding Bitcoin is easy, holding it for the long term is definitely not easy. To hold it, you have to be mentally mature as well as financially.