Is holding Bitcoin harder financially or psychologically?

[Faisal2202]

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?

Lack of money is one thing that is not so hard to figure out, if you lack funds then you must figure on that and start accumulating some money to buy btc, of start dcaing as soon as you get the money no need to gather the money to buy all at once you can dca it.

But if you think emotional decipline has nothing to say here, then you are wrong, it depends greatly, like with it you can't think straight, for example market is going up, you are making 50% profit what would you do, I made 3x this bull run with btc, how, I bought and moved them in wallet I don't see it again until marke hit 90k haha, do it, no matter for how much amount you have bought it, just buy it, and keep them somewhere separte and don't look at them, don't try to calculate the profit and lose whenver you see the price anywhere, try to focus on other things, act like you don't have btc at all.

[tabas]

100% psychological. the money part is easy - just stack sats.

Oh man, that's true. It sure is psychologically because we can always find ways to make money aside from the day job that we have whenever we want to add more investment to our bitcoin holdings.

the hard part is watching it crash 80% and doing nothing not selling in a panic, not chasing hype its a test of conviction, not funds.

So very true! I've watched that on the 2018 bear market and it's hard to be honest. Many have given up during that time and I cannot imagine more of the earlier days when trust wasn't yet to the mainstream for Bitcoin. But if you ever survived those dark days and didn't went into frenzy and panic, you're a legend and can now handle things without being so emotional.

[virasisog]

merry Christmas and Happy new year in advance my fellow Bitcointalk's.

Please I will like to hear some opinions from members of this community on this debate, especially from those members who have held Bitcoin for at least two to three cycle. Today myself and three of guys were just having some argument until this particular question  was asked by one of guy, if holding Bitcoin is harder financially or psychologically? And Frankly speaking I and my friend haven't held Bitcoin for one cycle, we are just new to the space. Although many people often say just hold, but in reality holding Bitcoin through volatility is not easy. As we all know people loose money because: they sell in panic during crashes, they overthink short term price action, and finally they loose conviction when narratives change.
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?

If we would follow the investment quote that goes to say Only invest what you could afford to lose then the battle would only be psychologically we wouldn't be bother financially.
If we are only investing our excess money then we would be bothered by the price we would hold it no matter what happen unless it already reach the price that we are aiming to or we already gain the profit that we are looking for.

[devlin85]

From my point of view, it is much more difficult psychologically than financially. Money is a factor, but even with little capital, you can hold on if you have conviction. The problem arises when the price falls sharply and you begin to doubt everything you thought you knew.
To hold on to Bitcoin, you have to know how to live with volatility and constant noise. Many fail due to mental fatigue or because they compare their own situation with that of others, which is why I think emotional discipline weighs more heavily than a lack of money.

[Mehmet69]

So now here is the question, is investing in bitcoin harder because of lack of money or lack of emotional discipline?

For new investors, lack of money is more than stress. Most new investors start investing with a very small amount of money. They want to know about it well before investing. At that moment, the stress of an investor is the pressure of losing money. If they lose money, they are afraid of losing their entire wealth. So they are very stressed mentally. Whenever the price in the market drops, they start panicking again and again. But if someone can withstand this pressure, then he can definitely be a good investor.

[TheUltraElite]

See if you are always thinking that your coins are sitting and collecting dust, you will never make the right decisions about holing.
Indeed psychology demands that holding something valuble a lot of patience.

I see this in a different manner, since I use my day job money to get groceries. The bitcoin I hold does not get used for this. So if you compartmentalizing both you should he good.

Finances get solved by fiat and then the psychology issue will also go down.

[Yorubek]

From my point of view, it is much more difficult psychologically than financially. Money is a factor, but even with little capital, you can hold on if you have conviction. The problem arises when the price falls sharply and you begin to doubt everything you thought you knew.
To hold on to Bitcoin, you have to know how to live with volatility and constant noise. Many fail due to mental fatigue or because they compare their own situation with that of others, which is why I think emotional discipline weighs more heavily than a lack of money.

To start investing in Bitcoin, you must have the right knowledge about Bitcoin. Without the right knowledge about Bitcoin, it will be very difficult to walk the long journey. Bitcoin is a long-term investment, it is not possible to achieve success by investing for a short period of time. It will be much harder to hold onto Bitcoin for a long time if it is not used to purchase it with prudent money, as a result, you will have to stop investing midway due to financial or mentally pressure. I think that along with the right knowledge, the financial or mentally  situation can be reduced by adopting the right rules.

[Japinat]

It could be both. Holding bitcoin is harder financially if you don't have sufficient funds to start your investment and make a good entry in the market. That's why some force themselves by taking a loan just to invest in bitcoin, and when its price drops, they all panic and end up selling their coins so they can have something to pay for their monthly loan interest.

When finances are at risk, psychological matter follows. Those who invest and hold bitcoin that are not using their spare money, or those from borrowed capital, it gets harder for them to hold longer financially and psychologically.

[retreat]

So now here is the question, is investing in bitcoin harder because of lack of money or lack of emotional discipline?

Actually both are the same, if you lack money, then it will be more difficult for you to accumulate more Bitcoins and maintain your Bitcoin investment in the long term. Lack of money makes it easier for you to sell when you need money. Likewise, if you lack emotional discipline, then you will be more susceptible to being tempted to panic when prices fall and rush to sell when there is little profit - and it will also be more difficult for you to accumulate more because your mental unpreparedness makes you hesitate when the best accumulation opportunities appear. So, both lack of funds and weak emotional discipline can both prevent you from maximizing Bitcoin's potential as a long-term asset.

[blockman]

It could be both. Holding bitcoin is harder financially if you don't have sufficient funds to start your investment and make a good entry in the market. That's why some force themselves by taking a loan just to invest in bitcoin, and when its price drops, they all panic and end up selling their coins so they can have something to pay for their monthly loan interest.

When finances are at risk, psychological matter follows. Those who invest and hold bitcoin that are not using their spare money, or those from borrowed capital, it gets harder for them to hold longer financially and psychologically.

Yeah, it can be balance into two things. But I think the main boss and opponent that we'll have to deal with is about the psychological war that it brings to us. It's that we'll have to deal with financial problem in the beginning of our investing process. And once we've won that already, the main boss arrives. And if you're not that tough mentally, you can't win that psychological war that it gives to anybody. As you've mentioned investors that doesn't use their own capital for it and likely borrow money to do it, they'll have to deal with both of it afterward.

[Plutomanian]

From my point of view, it is much more difficult psychologically than financially. Money is a factor, but even with little capital, you can hold on if you have conviction. The problem arises when the price falls sharply and you begin to doubt everything you thought you knew.
To hold on to Bitcoin, you have to know how to live with volatility and constant noise. Many fail due to mental fatigue or because they compare their own situation with that of others, which is why I think emotional discipline weighs more heavily than a lack of money.

Heavily we can spot our chances and win big in the space. We can hold on bitcoin in our wallet, there's absolutely no stress there but we can have problem looking at the down turn movement of bitcoin chart. The question we should be asking is if we enter the late entry of Bitcoin because there's more we can achieve if we stick to a particular strategy, a win would be deserveable. It comes with discipline to know when to hold or trigger the sell clause of bitcoin.

[Vaculin]

I think it’s mostly psychological. Anyone can think about investing, even if they’re struggling financially. It always starts with mindset, because if you’re really serious about investing, it’s like a law of attraction, eventually you find a way to make it happen.

It’s the same with starting a business. You begin with planning, then move to implementation, and that’s basically it.

You nailed it. We all find it hard to work on our financial aspect, and even if we are earning more, it still turns out that the amount we are earning isn't sufficient enough.

But the moment we decide to invest, everything changes. Motivation gets high, and our plans and course of actions aim more consistency. We won't just allow ourselves to remain struggling financially, but we become more motivated and determined to make our investment works because it will definitely solve all the financial problems we used to face when we have not decide to invest yet.

The type of mindset we have is the ultimate savior as to how our future will be like.

[Floxynice]

I have seen people who were able to raise the capital but were still unable to succeed with their bitcoin investment because they were unable to control their emotions. Greed, fear, doubt, impatience and panic have been a very difficult problem for some investors to manage. It's a kind of psychological torture for some investors seeing their investments fluctuate. As much as I agree that finance can be a major challenge, it can also be very challenging psychologically 

[Yamifoud]

Psychologically.

Yes it’s hard to earn money which is why you often find yourself a little extra careful with what you do with it. You put it in bitcoin, you are scared to lose it and too excited when it doubles. You have to keep being logical all throughout your holding process. Money makes us crazy which is hard to surpress sometimes.

Even if earning money is easy for you, but your mind and emotions are not ready yet particularly with volatility factor, still you will go through investing psychologically hard for you.

It's still safer to prepare your mindset first, be open to mistakes and losses as investing isn't just all about winning and making profits, that way your investment will be easy to navigate and with the positivity you have, success becomes highly possible.

[AakZaki]

I'm still holding Bitcoin from 2022 until now, it sounds crazy but that's what it is. I keep it in my hard wallet so that I don't touch it unless absolutely necessary, even I still keep adding it when I have the advantage of trading. I don't care if the price goes up or down I keep adding to it.

Actually, from your question, it starts from your finances, when your finances are fine, saving Bitcoin is not something to be afraid of. Moreover, you can get other profits in your trading activities. That way, the emotional pressure on price movements is greatly reduced and the decisions taken remain rational without having to rush to sell long term assets.

[Antona]

What is most important the most when it comes to holding Bitcoin for a long time is largely influenced by your psychology which has to do with how well you have exposed yourself to educating yourself when it comes to Bitcoin education. Because someone who truly values and understand what holding means will not look at the financial implications of holding because such a person knows very well that hodling is the key when it comes to Bitcoin investment.

This is it exactly the financial part is simple, the mental game is everything. If your education is deep understanding the monetary policy, the network effect, the history of money then volatility becomes noise you're not just holding an asset you're holding a conviction, that's what gets you through the brutal dips

[BitSovereign]

Conviction can be a double edged sword because it might stop you from selling a dying project just because you believe in the vision too much, you have to find that balance between being a strong holder and being completely blind to the actual market conditions that are happening right in front of you

[vanesha]

Both are very difficult. Financially, we must manage everything very well—with proper financial management, good risk management, accurate analysis, and frequently keeping up with detailed news about Bitcoin. Psychologically, emotional management and self-control are essential. This is the hardest part of trading and investing. It looks easy, but in reality, it is difficult.

[shinratensei_]

It's easier to hold when it's just your spare money that you don't really need and you just want to grow it out of whim.
You will probably ignores it and come back when a big headline about bitcoin rising pops up in your phone. If you held your life saving that you held onto very dearly and can't afford to lose it.

I will guarantee that you will keep thinking about it and monitor the market 24/7. But overall, it's both.

[Fara Chan]

Heavily we can spot our chances and win big in the space. We can hold on bitcoin in our wallet, there's absolutely no stress there but we can have problem looking at the down turn movement of bitcoin chart. The question we should be asking is if we enter the late entry of Bitcoin because there's more we can achieve if we stick to a particular strategy, a win would be deserveable. It comes with discipline to know when to hold or trigger the sell clause of bitcoin.

Buying Bitcoin doesn't have to be at the final stages. If you're simply waiting for the right time to buy Bitcoin, it will only lead to further confusion, as the right time is very difficult to determine. Meanwhile, those who bought Bitcoin at a declining price were simply taking advantage of the coincidental moment, which they considered the right time to buy in large quantities. As for holding Bitcoin, I believe four to five years is a good time to sell it back to the market for a profit at a significantly different price, as Bitcoin always experiences a four-year price increase cycle that is much better than the short-term one.