Is holding Bitcoin harder financially or psychologically?

[Cleanslate_]

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.

Exactly but most people won't adhere to it, even though they are aware of it but yet, they will still want to start investing with a big amount of money, even when they don't have such amount, they can take a loan for it just to do what they want.
Which is bad because if the market doesn't go as they planned, it might both affect them financially and psychologically, which can lead them to losses if the market dips below their capital.
That is why people should not neglect to follow the instructions of investment, especially if it involves crypto so that they will not do anything that will affect their plans.

Since Bitcoin can be owned in fractions, you don't have to pressure yourself too much. Even if you have very little, you don't have to worry about it, and the financial and psychological pressure might be there, but there are solutions to this challenge as long as you can be consistent. And then another thing is emotional control, when you are holding its either you are going to be panicking or they are suffering financially because they did not make provisions for emergency funds, which will result in worries and might end up in selling.

And anything that has to do with you holding requires a lot of sacrifice because you have to hold for a very long time, so patience, discipline, and all this are not easy to work with, so the emotion aspect is even worse because it is not going to be funny at all, but those that are already used to it no longer worry about whatever the condition might be because they have everything sorted out starting from DCA and even the emergency funds.

The biggest challenge any investor can be affected with is finance which is also applicable with bitcoin investment , when you lack finance investment becomes very difficult for you to invest, before going into investment you will have a budget and target to meet also be self determined on how you are going to handle your bitcoin investment and how long you will be holding it .

Investing in bitcoin is very easy if the finance is made available using dca, you can invest little by little with what you can afford to lose, be it daily weekly, monthly or as you wish and hold unto it for a long-term without selling when you make use of your discretionary income since with your discretionary income you have nothing to lose but at the end will be more profitable to you.

[ColdLava40]

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

Psychologically its normally hard, but financially we create such problems for our selfs. Yes as a new investor without a little but no experience of how the word hold works or any cycle you get tensed when you seethe market going against the point where you had bought.

The ability to hold them depends on your level of experience or trust In bitcoin price to deliver.

Financially, many people create this issue for themselves. They listen to wrong advice from so many so called social media experts online about BTC dumping or something, so they panic and make wrong decisions. Some will decide not to continue accumulating just because price didn't do well to them.
 

[Nheer]

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?

I believe people will different opinions about this question as we might all have different challenges in Bitcoin investment but it doesn't mean that both is less challenging. For me Bitcoin is harder psychologically because I don't see I don't see it to be challenging financially but dealing with the market challenges while remaining disciplined is the real challenge for me. There is always this mixed feeling when the market crashes but real investors are those who are able to maintain discipline no matter what, even for them it's not easy though. No wants to lose money even though you invest what you can afford to lose, when you've been in profit and then you're seeing your profit dropping you will not be pleased about it.

[Out of mind]

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?

Holding Bitcoin is not easy. At times, people have to sell their holdings due to their necessary work. If those who have held Bitcoin for years face financial problems, they sell them, which can be very painful for them. However, I think if you have enough money, you will try to hold them by investing in Bitcoin for a while, rather than having any excuse to sell them.
If you invest for a long time, then you must have a good financial position. Basically, investing in Bitcoin is not difficult due to the current mental state, but it becomes difficult because of the financial position. If you have enough money, then you must have good discipline and mentality, and if you do not have money, then you will not have any attention to your investment. And if you have investments, if you need money, you will have to sell them later even if you invest them for a long time. From my point of view, the biggest challenge for people in investing is financial problems; if there is money in the fund, then investing will be easy.

[BALIK]

Holding Bitcoin is not easy. At times, people have to sell their holdings due to their necessary work. If those who have held Bitcoin for years face financial problems, they sell them, which can be very painful for them. However, I think if you have enough money, you will try to hold them by investing in Bitcoin for a while, rather than having any excuse to sell them.
If you invest for a long time, then you must have a good financial position. Basically, investing in Bitcoin is not difficult due to the current mental state, but it becomes difficult because of the financial position. If you have enough money, then you must have good discipline and mentality, and if you do not have money, then you will not have any attention to your investment. And if you have investments, if you need money, you will have to sell them later even if you invest them for a long time. From my point of view, the biggest challenge for people in investing is financial problems; if there is money in the fund, then investing will be easy.

I agree with you that having a stable source of funding makes investing easier. Financial stability helps reduce psychological stress in life, and this is also true in investing.

However, the psychological aspect is also a significant challenge. Because there are still many people who have not invested in bitcoin, including many billionaires and wealthy individuals. Or we've seen many large investors invest millions of dollars but decide to cut their losses whenever the market experiences significant volatility. Clearly, their problem is psychological, they cannot endure the stress and volatility of the market, not financially.

[Lorence.xD]

I would say that it depends, each people has their own strengths and weaknesses after all, but for me though, I think hodling is much more difficult if you don't have your finances in order. It's pretty simple for me, if your finances suck, you end up having to borrow from your investment that has either not grown enough or hasn't matured to the point that it would be worth twice when you sell, bad financial status also is the cause why some people can't hold out during the times when bitcoin is constantly plunging, they don't want their investments to go down even more because in the case of emergency, they need to make sure that they can rely on it which is a bad thing. I think that if you're having a hard time psychologically when hodling bitcoin, the only solution I can give to you is not to check up on your hodl too much and quit checking out prices every minute of the day, do other stuff to distract yourself.

[Graph001]

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?

Holding Bitcoin is not easy. At times, people have to sell their holdings due to their necessary work. If those who have held Bitcoin for years face financial problems, they sell them, which can be very painful for them. However, I think if you have enough money, you will try to hold them by investing in Bitcoin for a while, rather than having any excuse to sell them.
If you invest for a long time, then you must have a good financial position. Basically, investing in Bitcoin is not difficult due to the current mental state, but it becomes difficult because of the financial position. If you have enough money, then you must have good discipline and mentality, and if you do not have money, then you will not have any attention to your investment. And if you have investments, if you need money, you will have to sell them later even if you invest them for a long time. From my point of view, the biggest challenge for people in investing is financial problems; if there is money in the fund, then investing will be easy.

Yes, financial stability is important for investing. Your financial loss will not force you to sell your Bitcoin at an untimely time. If you want to invest and you have financial stability, it will definitely keep your investment in a favorable position. But having money alone will not make you profitable, for this you need to know proper financial management. You need to have a mindset to handle investment risks and market volatility. You need to know when and where to use your money. It is also necessary to have self-control because investing will test your patience and you will have to go through many ups and downs. Here, the market will not always be in your favor. You need to be careful not to panic or make any wrong decisions when the market becomes unstable.

[Jostern]

I don’t think that holding bitcoin would be difficult financially, if you have a discretionary income, first of you before you start investing in bitcoin, you should have a source of income that would help in providing a stable income because you don’t buy bitcoin for free you buy bitcoin with money, when an individual isn’t financially stable and don’t have a discretionary income I think they will definitely struggle to hold bitcoin.

There are people who will have some psychological problems because they must have probably messed up with their investments, either financially and emotionally, which is why it’s important to have a stable source of income to keep buying bitcoin, not only having a stable source of income but have a discretionary income, because you’re meant to invest in bitcoin with your discretionary income.

[Jeorgejs]

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?

From my experience, it’s definitely harder psychologically. Buying Bitcoin was easy but holding it through drops wasn’t. Seeing it go down hard, reading negative posts, and questioning yourself over and over is what gets you. I didn’t struggle with the money part as much as the stress of just sitting there and not doing anything.

[imthegreat]

both sides have their struggles. financially, the volatility can hit hard, especially when u see those big price swings. but psychologically, that's a whole different beast. the constant noise and FUD can mess with your head, making it tough to stay calm. i think its a mix of both, but for me, the mental part is what really tests my patience. staying strong through the chaos is no easy task.

I used to be extremely susceptible to FUD, and one of the times I lost half my balance was precisely because of this. I followed an influencer who was predicting the dates of various price increases, including Bitcoin's. Like many of his followers, I believed he knew something and had good forecasting skills. But in reality, this guy simply caught the trend of a rising market, and that's when any fool would guess that coins and Bitcoin would rise. But back then, I was blind to this and invested at the peak, after which Bitcoin crashed. After that, I unfollowed all influencers and started thinking exclusively for myself. This was a very costly mistake for my deposit.

[Makus]

well, i think both factors are important and every individual has what they mind find difficult to them. To some it might be the finances to fund their investment and to others they might not have the mental fortitude to invest into it. I would say both factors are important but mastering the psychological aspect is crucial because this is what is going to determine success in the long run. The plays a huge role in the decisions that you make and also how you invest in the market, that is why it is important to master psychology first before anything else

[tygeade]

Psychologically it depends on the person, and while financially is also depending on the person, it's the same price for all of us, and goes down same for all of us, and goes up the same for all of us. Whereas psychology isn't the same for everyone, it's something that takes a while and shouldn't be considered that great, we need to focus on the fact that it is not going to be easy for anyone, and for that reason there are so many who sell after it goes down, when they should be buying at that time.

Some people are just more fearful and have higher anxiety problems so they can't watch their portfolio going down, even though we keep saying that is good and they should buy more, they think it will crash to zero for some reason.

[finaleshot2016]

Simple, lack of the basics and of course emotional discipline. Some of the basics like buying dips could help you grow your portfolio and of course, not panicking could definitely save your port since some of the market dips are manipulation or just temporary, eventually it’ll go back. So I think BTC is getting harder because of risky decisions, people should treat this as a long-term investment if you’re just chilling with it.

If you understand how cryptocurrency works, the volatility and of course some market manipulation will just become a noise that we should ignore.

[Churchillvv]

Holding is only hard when you invest an amount that you can’t afford to do without for a long term, otherwise there is no stress as much as you are financially buoyant to cope with live without having to attempt touching your investment, so the emotional and/or psychological swings that comes with investment is just merely an illusion created in the mind, finance and discipline to keep going is what you need.

[summonerrk]

Holding is only hard when you invest an amount that you can’t afford to do without for a long term, otherwise there is no stress as much as you are financially buoyant to cope with live without having to attempt touching your investment, so the emotional and/or psychological swings that comes with investment is just merely an illusion created in the mind, finance and discipline to keep going is what you need.

I think this is perhaps what distinguishes an investor from a trader. Specifically, an investor has so much money that for them, investing is a process in which they can forget about Bitcoin for months or even years and set very long-term goals. But someone who doesn't have that kind of money and constantly withdraws money from their deposit for their own needs is a trader, and most likely even a bad one, because various life circumstances force them to end their trading position even at a disadvantage.

[Callido]

From my experience, it’s definitely harder psychologically. Buying Bitcoin was easy but holding it through drops wasn’t. Seeing it go down hard, reading negative posts, and questioning yourself over and over is what gets you. I didn’t struggle with the money part as much as the stress of just sitting there and not doing anything.

Being financially stable folds the question, for someone that have enough funds won't bother about he's investment, his next expenses isn't depending on the profits from Bitcoin, the Bitcoin investment will be one of the many other investment he has running, psychologically he doesn't think much only waiting for the number of years he wants to hold.

Average earning investors or those struggling to keep up their investment, are the people that are affected by financial and psychological pressure, that will later affect how they manage their investment, some end it half way, too early.

[Uhwuchukwu53]

The both are core factors , the financial is the main because a holder that is not financially solvent may be doom because the market will not go as expected when the need to sell will hit Such individual. The psychologically once all your source of survival and solving problem is centered on what comes on your hold it makes such individual to over monitor the system which every small dropped in the market price raises some tension and panic on its investment. Balancing financially while on the market it investment covereth more than the psychologically aspect because what leads to such psychology will be reduced as the holder will not be border since it can wait patiently for a better outcome without panicking.

[Danica22]

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?

From my experience, it’s definitely harder psychologically. Buying Bitcoin was easy but holding it through drops wasn’t. Seeing it go down hard, reading negative posts, and questioning yourself over and over is what gets you. I didn’t struggle with the money part as much as the stress of just sitting there and not doing anything.

If you only invest money that you can afford to lose, and you diversify portfolio or have multiple sources of income. You do not rely solely on Bitcoin investments to get rich or make a profit. I think your level of psychological stress will decrease significantly, and perhaps you won't have to worry about it anymore.

Our goal when investing is to use money to make more money, and what makes us fearful and psychologically unstable is the fear of losing money. Therefore, if you only invest the amount of money you are willing to lose, then psychological stress will no longer be a cause for concern.

Everything revolves around money and finance.

[Sleep Sell]

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?

Holding or selling Bitcoin has a greater impact on our finances than on our mentality. When a person can meet his basic needs properly and when he invests the extra money in Bitcoin, after fulfilling the necessities of his life, that person will also be mentally strong enough. As a result, he will be able to invest in Bitcoin for the long term and he will have an automatic hope within himself that this Bitcoin will give him profit in the future. And this is actually true. However, if it happens that his basic needs are met and a situation arises where he cannot sell his invested money, then it will have a major impact on his mentality and it will become really difficult for him to hold on to Bitcoin.

[Kelward]

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?

I believe people will different opinions about this question as we might all have different challenges in Bitcoin investment but it doesn't mean that both is less challenging. For me Bitcoin is harder psychologically because I don't see I don't see it to be challenging financially but dealing with the market challenges while remaining disciplined is the real challenge for me. There is always this mixed feeling when the market crashes but real investors are those who are able to maintain discipline no matter what, even for them it's not easy though. No wants to lose money even though you invest what you can afford to lose, when you've been in profit and then you're seeing your profit dropping you will not be pleased about it.

It is true that Bitcoin volatility can affect a holder psychologically because the market is not stable but I quite disagree that psychologically it takes more toll on a holder than money. I think that money comes first before psychological stability regards holding Bitcoin, you need to have money to buy first before it can affect your psychology negatively or positively. If you don't have money to buy and hold there's nowhere psychological or emotional instability can come in. Money is primary while psychology in monitoring the market in holding Bitcoin is secondary. Besides if you understand that Bitcoin is a store of value that will always reach ATH in the future you won't be negative in your psychology, you will just DCA for the long term and it's only steady money to accumulate that you will worry about.