Why Patience Often Beats Action in Bitcoin.

[goldkingcoiner]

When I first started with bitcoin a few years back I felt pressured to act all the time. Buy now, sell now, check the price every hours it never ends. So what I realised over time is that sometimes doing nothing can be the smartest move as a beginner to bitcoin, Because bitcoin moves fast and News spread quickly.

And I also came to realise that Beginners often act on fear and hype, instead of thinking clearly. But the truth is that, as a beginner to bitcoin rushing to act without thinking clearly often leads to mistakes that can be impossible to undo, That is why the best action sometimes is patient.

So for that reason it is important for beginners to learn more before investing, wait and think before making big decision, because if you make wrong decision as a beginner to bitcoin you may end up not becoming successful in your bitcoin investment journey. Further more observe trends without reacting emotionally, because reacting towards trends emotionally can lead to making impulsive decisions and later land yourself in big mess so bad for a beginner to bitcoin. And the mindset that doing nothing is sometimes the best Bitcoin decision makes sense from my perspective.

So what about you guys what do you think from your own perspectives?

Secondly Have you guys ever gained more by waiting than by acting too quickly in Bitcoin?

I have never gained more by acting too fast. I have only lost money that way.

After many years with Bitcoin, you will realise the best thing to do is not to do anything.
Just stop looking at the price and you will stop panic buying or panic selling.

And at that point your money will start going up in value instead of down.

[Finebone]

Before a bitcoin investor decides not to act in any situations concerning the market, it means that he is knowledgeable enough to know the signs he might be waiting for before diving in, you don't waiting in ignorance, because once you are ignorant, you wouldn't even wait. So seeking knowledge should be the best thing a beginner should be doing for himself if he is not buying and accumulating than doing nothing in ignorance, because if he stays ignorant, he will still act wrongly when he finally decides to venture into the market, so knowledge is key, that's why a new investor must go for it first, before anything else.

[SOKO-DEKE]

When I first started with bitcoin a few years back I felt pressured to act all the time. Buy now, sell now, check the price every hours it never ends. So what I realised over time is that sometimes doing nothing can be the smartest move as a beginner to bitcoin, Because bitcoin moves fast and News spread quickly.

And I also came to realise that Beginners often act on fear and hype, instead of thinking clearly. But the truth is that, as a beginner to bitcoin rushing to act without thinking clearly often leads to mistakes that can be impossible to undo, That is why the best action sometimes is patient.

Buying Bitcoin and selling it back within a short period of time, which can be between hours or days, is the work of trader. During that period, you are acting like a trader. Being a trader, someone does not need to be patient all the time,sometimes being patient can end up making the trader lose more and sometimes it can be a blessing and help someone make more profit.

But the truth is that if someone wants to be a trader, they need to have proper knowledge about trading so they can always make reasonable decisions, not only depend on patience. It is very possible that the reason why you are making the decisions you make is all about your level of knowledge.Now that you understand that trading adds pressure on someone, it can be seen that investment is the best way to make reasonable profits from Bitcoin.

[melinoe]

Before a bitcoin investor decides not to act in any situations concerning the market, it means that he is knowledgeable enough to know the signs he might be waiting for before diving in, you don't waiting in ignorance, because once you are ignorant, you wouldn't even wait. So seeking knowledge should be the best thing a beginner should be doing for himself if he is not buying and accumulating than doing nothing in ignorance, because if he stays ignorant, he will still act wrongly when he finally decides to venture into the market, so knowledge is key, that's why a new investor must go for it first, before anything else.

You can go wrong with BTC if you hodl long enough.

Period.

If you sold off due to anxiety or a big minus due to buying at a wrong time.. You just didn't do your homework properly.

[Finestream]

Bitcoin is an investment that will indeed test your patience. We have seen how volatile and unpredictable bitcoin price is, and sometimes what we see isn't satisfying to our eyes especially when the price suddenly drops sharply from a highly bullish price. And emotions get easily triggered.

Now if you react suddenly without thinking, and decide to sell in order to cut the losses, instead of preventing yourself from losses, but you end up drowning into losses, that's how unpredictable bitcoin is.

This is the reason why being patient should be prioritized than to react and do something which will only worsen the scenario. Sometimes, its best to stay calm and relax and ignore the bitcoin drama, and come back again when you see bitcoin price has already recover and the market turns green again.

[Maslate]

Secondly Have you guys ever gained more by waiting than by acting too quickly in Bitcoin?

One good thing about bitcoin investment is that you can buy and be learning along side as you build your portfolio. I feel that if you have figured out that you have your discretionary income, you can buy because you improve your knowledge through practice. Bitcoin knowledge is very broad, you only need the basic knowledge to buy your first bitcoin.

I don't like waiting provided I have the funds because the price increases overtime, just buy and continue with whatever knowledge you want to gain about bitcoin. Don't forget that an emergency funds is very important to backup your bitcoin investment.

Indeed, before investing into bitcoin, prioritize building your emergency funds first so that you won't touch your bitcoin investment if sudden emergencies arise.

DCA is a good strategy to keep moving forward with bitcoin. Despite of the negative events in the market and bitcoin price is moving negatively, but as long as we are consistent with DCA, we will always be profitable with bitcoin in the end.

Patience is a crucial factor with bitcoin. But that does not mean that being patient is just doing nothing, proceed to DCA instead so that there'll be continuous upward movement.

[Odogwu-Blockchain]

Patience is a crucial factor with bitcoin. But that does not mean that being patient is just doing nothing, proceed to DCA instead so that there'll be continuous upward movement.

What do you mean by continuous upward movement, do you mean increase quantity of Bitcoin whenever it's been bought or increase in value? And what if the price keeps on dropping as you DCA consistently, will there bec continuous upward movement? Nah.

The whole point is DCA and be getting ready to hold no matter the time.