Why Patience Often Beats Action in Bitcoin.

[Die_empty]

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?

If you are not a trader, you do not need to be checking Bitcoin price every day. Only traders make money from Bitcoin through short-term speculations. Long-term investors have more than four-year plans. so daily or even monthly price of Bitcoin doesnt effect their projections.

Newbies would also show impatience because of ignorance. But as they begin to understand how the market works, they will become more patient. There will always be situations that propels FUD, having a plan and following it is importnat.     

[SamReomo]

Patience and action both are needed when it comes to Bitcoin investment, for an investor DCA strategy works like a charm but if the same person also saves him/her money in Stable coin and when Bitcoin dips then invest all of the DCA amount at once then such a person ends up having more Bitcoin than the ones who only buy with DCA.

But for a trader, market's ups and downs play a very important role and for him/her each time when there's major dump or major pump, he/she can secure some profit from the volatility of the dumps and pumps. The market is always giving but it's on us that how we treat it, if we're opportunistic then surely we can take enough profit from the market.

[Marykeller]

I don't think there is anybody who started their Bitcoin investment journey as a beginner who once didn't feel anxious about the price of Bitcoin. We all felt that way to be checking the price every time before we began to learn how to stay calm, to do nothing in the face of the ups and downs of Bitcoin price, focusing on our long term goal and being patient through it all that downtimes will be over, we will see a brighter light at the end of the tunnel.

The narrative(staying calm and being patient) of what we learn about Bitcoin gets stuck in us that we must not react to every negative news or price decline of Bitcoin. Let's see all that as an opportunity to buy at a discount price

[Y3shot]

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.

The problem of Beginners just understanding, at first they are not interested in learning and they rush into Bitcoin with the little knowledge they have and their expectations, expecting to get what they think about bitcoin. 

Understanding bitcoin from the beginning i dont think people will have challenges investing it. People dont understand it and when they have realise bitcoin is not what they they think it is, it becomes very terrible for them. If you understand bitcoin better you dont need to invest in fear .

[salad daging]

Beginners will definitely take actions like what you said, such as Fomo, hype, selling too fast, selling at a loss, etc. Beginners must feel the incident first so that they learn more so that it becomes their experience to be better in any investment not only bitcoin.

It's good that beginners have to learn more before investing, but without experience they won't feel anything, right? So taking action in the beginning that is excessive is not a problem but over time you will start better and be careful and even your patience will continue to increase in the investments you make.

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

Getting the most profit is by HODL for 4 years.

[Patikno]

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

I completely agree with you, patience is key to achieving the best results in Bitcoin. Personally, I bought Bitcoin two years ago, and I bought it around its peak price. Then the price dropped, and I remember there was news of a war going on. That made me impatient, and I sold my Bitcoin, and now I regret my decision at the time, even though I should have bought more when Bitcoin dropped. In fact, if I had let it sit and been patient until today, my portfolio would have grown, and it would be far from breaking even or losing money (based on the price at that time).

So, I think patience is everything for us to be able to profit in Bitcoin. I will start buying Bitcoin again this year, and I will do my best to maintain my patience, and I will try to stay patient even when the price drops, and I will try to buy more Bitcoin when the price drops. I think all we need to do is maximize our patience.

[Akbarkoe]

[.....]
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?

This is a sign that you don't understand how investing works and how it differs from trading. You lack proper investment literacy from the start. I think this isn't just happening with Bitcoin; other things will end up the same way. This is where literacy is crucial before starting anything, so you'll have a strategy and know what to do.

I invest and trade in Bitcoin, but my investments tend to grow better and are more stable. Every time there's a dip, I still make a sizable profit in Bitcoin.

[Joy_learns_crypto]

I don’t think you should just do nothing, for me be patient but do something like have a buying arrangement for bitcoin, you buy as you have the money but keep you emergency funds ready so you don’t sell very often.
As a newbie don’t do anything wait after you have done your study and prepared to invest.

And you can not gain more by not acting, you act, buy more bitcoin and you will earn more than the person that did not buy or act.

[Jewan420]

Especially when learning, small losses due to wrong decisions are not losses, but help you learn. I think, as a learner, if you do not make mistakes, your knowledge is incomplete. Real knowledge is something that makes you interested in learning, if you do not face any mistakes while learning, be careful, because the possibility of your making mistakes is very high.

The lines of the book and reality are not the same, the lines of the book will give you knowledge but mistakes will force you to learn real knowledge, experience and something new outside the book. It will even help you increase your creativity. As a learner, it is better to make mistakes to learn something new than to keep silent for fear of making mistakes. However, it is important to understand the mistake after making a mistake.

[Callido]

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?

Yes, from a good point too, from my perspective, the only worry is how to keep my investment safe, my patience keeps growing whenever the price tops, and if it goes sideways, I'm opportuned to buy more.

For the second line of question, that is basically how Bitcoin investment operates, buy at the best price, hold in a safe place, stay patient with whatever situation, until the investment is matured to sell.

[Abu-Naim]

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?

A real Bitcoin investor that knows the basic concepts and principle behind Bitcoin has already knows that patience is the key, they can never achieve good profit in their Bitcoin investment without being patience in their investment because Bitcoin has proved so many people right because of their patience, if you hold Bitcoin for long, you will have good profit because if you check the revolution of Bitcoin, it started around 2009, and just after 16 years, Bitcoin has worth more than $100k as its all time high; I never seen any business that will give you that profit as Bitcoin with the same time range; therefore, let’s invest in Bitcoin and hold for at least 4 years.

[EluguHcman]

Patient is undisputable when you talk about Bitcoin investment. The market is always unpredictable and to make profits out of it as a trader, you will be required to consume time studying the market and ways of the volatilities and events to make your assumption in predicting the price. If you get into the market as a beginner with no professional knowledge due to the fact of impatient to learn about it, you will always lost it or you relies luck like it is a pure gambling.

Even if it is for in investment purposes, you are also required as a beginner to exercise patient and resists panics and making decisions in the hurry our of fear or greeds. So they are actually uncoordinated lacking emotional control with some desperate to become rich overnight always regrets it when they acts with gathering factors like there was not even enough time to keep holding.

Bitcoin is just best for long term goal. Short terms are much risky.

[m2017]

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.

The principle of investing is to buy an asset and do nothing with it. Until a certain point.

Newbies really do bustle with bitcoin. This goes away with experience.

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.

Inaction should begin after bitcoin purchase, not before.

In fact, you shouldn't be inactive, but rather stick to your plan (developed in advance). In other words, inaction can be part of a big BTC-investment plan for specific time periods.

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.

Emotions have never allowed us to act rationally, and there should be no place for emotional manifestations (fear, haste, panic, greed) in investing. Only cold calculation (planning) should "rule" here.

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.

When it comes to starting to invest in bitcoin, waiting too long can only do harm - postponing (or even abandoning) the investment.

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

Ask any BTC-holder about this. The key to success with bitcoin is waiting (after the purchase).

[Mpamaegbu]

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

Patience is key in this industry. However, it depends on when you apply it. For instance, you shouldn't be patient during a bear season if you already had Bitcoin. You can take profit before the thick of the bear sets in. If it were during a bull season, sit on your hands and wait for a better ROI. Don't be hasty to sign out by taking profit too early.

~snipped~

Newbies really do bustle with bitcoin. This goes away with experience.

You wrote with experience there. It happened to us too as greenhorns. Time and experience have taken care of that now. This day, I'm least bothered when price plummets.

Inaction should begin after bitcoin purchase, not before.

This is where a lot of itchy fingers get excited with little spikes whenever they spot them because they always are pushed to take profit. This they regret later.