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.

[Adams0001]

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.

Patient is everything, because if you're always patient in everything you're doing things will be good smoothly and that is why bitcoin always give me joy because is always different from other coins so we need to be patient in bitcoin if we what to benefit what others are benefiting in there investment. If you're not enough patient you can't invest for long term and you will notice that not every investors can keep there coin for long term because they don't have that patient to keep it long term they will always look for a fast money and getting fast money you will definitely be a risk-takers because not everything can give you profit. Some think they are best in predicting they didn't know that bitcoin is different and you needed patient to be successful in your investment journey.

[jcojci]

Beginners must learns more about Bitcoin before they starts because that can preventing them from making wrong decision or mistakes because investing or trading in Bitcoin can affects their emotional.

Besides learns about Bitcoin, they also needs to learns about controlling themselves. Bitcoin will have fluctuating movements so makes them difficult to control their emotion.

Beginners may thinks in hurry if they see the price moves and not analyze or waiting for a while. If they can learning more details about Bitcoin, they will set a plan to starts and consistent.

If they focus with Bitcoin trading, they will not in hurry and be careful making decision. Having knowledge related to Bitcoin will help them to decide the right and will not in hurry.

[melinoe]

Beginners must learns more about Bitcoin before they starts because that can preventing them from making wrong decision or mistakes because investing or trading in Bitcoin can affects their emotional.

Besides learns about Bitcoin, they also needs to learns about controlling themselves. Bitcoin will have fluctuating movements so makes them difficult to control their emotion.

Beginners may thinks in hurry if they see the price moves and not analyze or waiting for a while. If they can learning more details about Bitcoin, they will set a plan to starts and consistent.

If they focus with Bitcoin trading, they will not in hurry and be careful making decision. Having knowledge related to Bitcoin will help them to decide the right and will not in hurry.

Mistakes will be made no matter what. It's how we react to them what truly matters

[7juju]

Everything you said makes sense if I'm honest here, the only aspect I am having a bit of mixed feelings is the aspect of learning first before investing. I have been on the side of investing and learning  things that you will need to know together as you progress in your investment journey. There are some lessons you will only understand fully well when you are directly involved in the process. You can't teach someone patience, unless they are directly face with a situation were they need to exercise patience. When you have a coin at your disposal that's only when you can test how long your patient can go when you are faced with an option to sell or not to sell. That's why I believe that it is more effective to learn while investing simultaneously.

[Fivestar4everMVP]

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

Well, I understand all that you have said and it's correct, but also important for us all to know is that fact that everyone have their respective ways of trading, investing in bitcoin and may other crypto assets as well..
When we talk about not doing any thing at times as the best decision, you are right but also on the other hand, there is a type of market condition that will require you to do something fast or else, you will likely lost money, so the real deal here is understanding the market condition per time and knowing exactly what to do. If as a trader or an investor, you fail to do something when you should have really done something, you risk losing money, and when you do something when you should have really done nothing, you also risk losing money, so knowing the different times to apply any of this strategies is the real deal.

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

What I gain mostly by waiting is that I end up buying cheaper is my intention at that time was or is to buy bitcoin, but in terms of selling, waiting sometime is very risky as one can not tell if the asset will drop while you are waiting for it to increase, so I usually don't wait in regards to this, I simply sell so long as the price at that time is perfectly OK for me.

[Dr.Bitcoin_Strange]

Having the right information and knowledge about Bitcoin will help you to profitably scale through your journey in Bitcoin, the right knowledge will teach you how to be patient which is a very need for every Bitcoiner, Bitcoin is not a get rich quick scheme and to be profitable, you must be willing to hold and holding requires patience. If you also wants to be a regular trader, you still need patience to wait until your kind of set-up/strategy shows up before you can take a trade. If you lack knowledge, you definitely will lack the patience. That's my opinion tho.

[WatChe]

Having the right information and knowledge about Bitcoin will help you to profitably scale through your journey in Bitcoin, the right knowledge will teach you how to be patient which is a very need for every Bitcoiner, Bitcoin is not a get rich quick scheme and to be profitable, you must be willing to hold and holding requires patience. If you also wants to be a regular trader, you still need patience to wait until your kind of set-up/strategy shows up before you can take a trade. If you lack knowledge, you definitely will lack the patience. That's my opinion tho.

If you are investor and you have patience with you then you are deemed to get success no matter in which sector you are investing. We have example of Bitcoin that gives you good return if you invest and wait with patience. Also in equity if you buy a good stock and wait patiently then after a certain time you see exponential growth on your investment. The right information about Bitcoin is that it won't make you rich overnight but in the long run. If you are going for trading in Bitcoin then risk involved increases. Long term Bitcoin investment is hassle free and guaranteed to give you good result. 

[bangjoe]

]

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.

The facts refute your statement as a result, if you are aware of the history of Bitcoin from the beginning to today, the holders are the winners compared to others, from worthless value to hundreds of thousands of dollars, how do you think that this is a mistake? Can't you open your eyes to this fact?
There is no wrong time to buy bitcoin, the wrong thing is that you don't hold on to it in the long term, that is the principle of investing in bitcoin, volatility may be an obstacle and obstacle for investors, but if you continue to hold on to it you will still win.

[Royal Cap]

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.

Actually being patient may not always be the easy or right solution for everyone, many people are in situations where they don't have the opportunity to wait for a long time, In those cases it's not a bad decision to come out to reduce risk. I think the real thing is to know your limits, If someone knows how much loss they can mentally take, then panic is less. Everyone knows that Bitcoin is uncertain so it's more important to be patient but also to make decisions based on your real situation.

[Hypnosis00]

Everything you said makes sense if I'm honest here, the only aspect I am having a bit of mixed feelings is the aspect of learning first before investing. I have been on the side of investing and learning  things that you will need to know together as you progress in your investment journey. There are some lessons you will only understand fully well when you are directly involved in the process. You can't teach someone patience, unless they are directly face with a situation were they need to exercise patience. When you have a coin at your disposal that's only when you can test how long your patient can go when you are faced with an option to sell or not to sell. That's why I believe that it is more effective to learn while investing simultaneously.

That's learning by doing, you learned from your losses and learned that patience turns out to be the most crucial tool when investing or trading.

Its okay to be impatient and compulsive because you are still in the learning process, but for sure you won't chose to behave like that forever because that would only mean constant losses without potential gains.

However, its still a best practice to observe the market first and study bitcoin before diving in to avoid maximum losses even at the beginning.