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Author Topic: Bitcoin market  (Read 486 times)
Catenaccio
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Today at 07:40:53 AM
 #61

What you’re feeling is completely normal — Bitcoin is volatile by nature. Price swings of 10–20% in a single day aren’t unusual. Before deciding to continue or withdraw, it’s better to understand the environment you’re in  https://www.investopedia.com/riding-the-wave-how-to-manage-crypto-volatility-11833947

Trading isn’t about courage, it’s about knowing what kind of market you’re playing in.  Grin Grin Grin
If you are trading, you are chosing and doing a hard thing while with Bitcoin and the market, you can do an easier thing: investment (just buy and hold bitcoin). With investment, your mindset is kind of more long term and it changes many thing inside yourself, from psychology, emotion, then decisions. It comes from how you learn about Bitcoin fundamentals, its market cycle history, what you expect from Bitcoin in next several years or cycles, and how do you prepare your finance then have investment capital in discretionary way.

If you can do these things, you will no longer feel the volatility of Bitcoin market is too challenging for you. As said, investment forces you to focus more on long term and that means short term changes, volatility are no longer your fearful concerns.

R


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Today at 08:02:40 AM
 #62

So your opinions are welcome here should I continue trade or withdraw
My own opinion is, focus on the ongoing accumulation of Bitcoin, and accumulate Bitcoin as much as you can using the DCA method and then hold for long term. Trading is very risky, it can only cause you more harm than good. people have lost hudge amount of money to trading and up til now they haven't recovered half of the money they lost to trading. So if you want to profit from Bitcoin just focus on long term holding, buy and hold don't trade for your own mental health.

I agree with you trading bitcoin is very risky and so anyone who is involved in trading bitcoin is risking his money. It is better to involve yourself in accumulating bitcoin and holding for a very long time because it helps in avoiding bitcoin risk I’m not saying that there’s no risk in those who involve themselves in long time bitcoin investment there is risk over there too but the risk there is low and that is why it is more better than trading.
I also agree with you that one can save his mental health when he’s investing in bitcoin for a long term, if you are a trader, you agree with me that your mental health will be affected, especially when you are new in trading however, when you have been trading for a very long time, you can maintain yourself and you won’t be having mental issues.


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Today at 08:51:07 AM
 #63

For those of us that are trading in the market fear and anxiety is a major challenge for us because of the rise and fall of the prices so must I say does it take courage to trade or wisdom because as of now the price of bitcoin is below $70.000 and I don't know if it might go down than this
So your opinions are welcome here should I continue trade or withdraw
first of all this topic doesn't belong here, it belongs to the trading discursion board. there will be very nice to shear this idea with your fellow traders but not here. this place is a place for bitcoin discursion and not trading. and i will even advice you to leave trading for now since you are confused weather to trade or not . trading requires a lot of skill and if you are not well knowledgeable you might lose a lot especially this period. my advice is that you should meet with people who are expert in trading maybe they can guide you properly and that will be in the trading discursion board.

 
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