Psychological war, the first battle every Bitcoiner should win before investing.

[Olotu20]

My naija people I say make, I bring this one come remind us ooo. Going through the forum you will see different threads talking about how people are afraid when ever there is a little dip , and the price of Bitcoin is not favourable. Many people sell in Panic and wait for a time which is perfect for them to buy out of the fear of losing money. But I was contemplating and have realized that, when it comes to Bitcoin investing the greatest battle, is often not against the market but is fought against your own self,emotions and psychology.


Anyone coming into Bitcoin should first of all win the fight against his fear, emotional distress, fear of losing money and panic because. Investing in Bitcoin is as much a mental challenge as it is a financial one. Newbies should know that the biggest problem that every intending Bitcoiner have is not about availability of cash but, is a war against their mental and psychological state. They most win this war because Bitcoin is a volatile asset, this means that every investor requires patience, discipline which should be backed up with knowledge this is the only way newbies can stay put on the long run. So until anyone win this self battle coming into Bitcoin will not make any difference because, eventually such people will chicken out sooner or later.

[Odusko]

When you hear people say that they are losing money in they Bitcoin investment, what happens is that they lack the ability to have patience with the market and this inpatient comes from the they inability to understand th volatilities of the Bitcoin market before entering into Bitcoin, most of them have bought they first Bitcoin with the aim to make quick profits and not expecting a temporary loses that they can recover from if they can wait for the price to recover back instead of panic selling when the price suddenly comes down.

[Sammysmart001]

A lot  of our newbies are not lossing  to Bitcoin but they are lossing to their own emotions. Panic and fear make a lot of users sell the dip, but knowledge, patience and smart work make people hold through it .

Personally would say if you cannot control ur emotions you can’t handle Bitcoin volatility . 

[Donk1]

For me everyone has a different way of building their psychology. The first one is awareness in the sense that most folks don't do proper research before entering this space. Because if you do you will understand the value and reality of how Bitcoin works which will indeed certainly give you the right psychology you need for the long term.....

​That said considering the fact that Bitcoin isn't a get rich quick scheme it is safe to say investment isn't about monitoring your charts .basically There are several strategies that one can use to manage risk, e.g., DCA strategy, which often allows long term investors to hold for the long term without selling irrationally. Best to say lack of knowledge is what often leads folks into believing the market is only facing one direction. So yes with the high volatility of Bitcoin one should first understand the technology if they truly want to build their psychology and thrive in this space. That's all.......

[Ishicryptic]

Knowledge is power so if you're going into Bitcoin investment it is essential that you understand it's market especially the fact that Bitcoin is a volatile asset, you shouldn't expect it's price to be stable or continue to increase without a dip. If you sell your Bitcoin specifically because it's value is reducing then you're a weak hand who either doesn't understand the potentials of Bitcoin to recover or who wants a fast profit.

Bitcoin is not a get rich quick scheme which would promise you quick profit returns on a short term like many scam projects in the crypto market, if you want to invest in Bitcoin you should make sure that you are ready to be patient and wait for it to enter bull circle before you can get your investment profit. It is recommended that we should invest from our discretionary funds so that we will not be under pressure to sell inorder to take care of our basic expenses.

[DubemIfedigbo001]

When you're afraid of in doubt, start with small amounts and be consistent, good thing bitcoin does not have have minimum deposit. Putting little negligible amount into bitcoin, even if it is $10 weekly surely makes sense for a start. Just make sure it is an amount you can afford to loose and keep holding. Over time and if your confidence increases, you can increase the amount you DCA regularly into bitcoin if you've more discretionary income available. The self-discovery battle is obtainable, but you get over your fears by being practical and testing out the investment vehicle and not just by folding your hand and overthinking it.

[Zigabel]

E get some pipo swf wey don dey long for the Bitcoin mata wey go still struggle with their own mind,  so this talk no be for only pipo wey dey new, na for pipo wey  don stay long for the Bitcoin mata too. E dey get sometimes wey be say even pipo wey don stay for the Bitcoin mata for long time,  then dey find am hard to still manage dis psychology,  because na money mata and we know as e dey be for we Niaja pipo dem whan money don dey involved.  So na for everybody to put mind for how to consistently make dia psychology and mi d dey one place,  make e no go affect how dem dey manage their Bitcoin and oda investments dem.

[ColdLava40]

They most win this war because Bitcoin is a volatile asset, this means that every investor requires patience, discipline which should be backed up with knowledge this is the only way newbies can stay put on the long run. So until anyone win this self battle coming into Bitcoin will not make any difference because, eventually such people will chicken out sooner or later.

Every investor should understand how they react to the market.

Psychology is a great issue for those who fail to control themselves in the market. People are not always scared during a bull market, but the moment the candles begins to turn red, it becomes uncomfortable for them.

In Bitcoin investment, your goals needs to be defined if you want to keep your psychology in check. Without a defined goal, you will  end up ruining your investment prematurely.

[DiMarxist]

You do have a point here Op, because some of the those who easily gets discouraged investing and to a large extent even trade Bitcoin all lies in the way they approach the market. This is greatly influenced by their mental and psychological state, anyone who is not prepared in his mind can't hold Bitcoin for a long time. Because Bitcoin investment is all about the mind so you got to prepare mindset so when the going get tough you will not be discouraged and leave half way. Investing in Bitcoin is good but investors should prepare their mind.

[Crypto_Timothy]

Well like investing success is often determined more by psychology than by market timing, so you have a point OP. Fear, greed and panic can lead people to make emotional decisions, such as selling during a dip or buying out of excitement when prices are high, till date certain person still make the same mistake. So basically anyone considering Bitcoin should first understand its volatility and only invest money they can afford to leave untouched for the long term becuase thats the true way to get value from investing in Bitcoin. You can develop a clear strategy, like consistent investing, small per small then continuous learning and also avoid impulsive reactions to short-term price swings, this will help you stay disciplined and remeber the market will always fluctuate but having the right mindset and realistic expectations is what allows people to navigate those fluctuations without letting emotions dictate every decision.

[Sonia_123]

My naija people I say make, I bring this one come remind us ooo. Going through the forum you will see different threads talking about how people are afraid when ever there is a little dip , and the price of Bitcoin is not favourable. Many people sell in Panic and wait for a time which is perfect for them to buy out of the fear of losing money. But I was contemplating and have realized that, when it comes to Bitcoin investing the greatest battle, is often not against the market but is fought against your own self,emotions and psychology.


Anyone coming into Bitcoin should first of all win the fight against his fear, emotional distress, fear of losing money and panic because. Investing in Bitcoin is as much a mental challenge as it is a financial one. Newbies should know that the biggest problem that every intending Bitcoiner have is not about availability of cash but, is a war against their mental and psychological state. They most win this war because Bitcoin is a volatile asset, this means that every investor requires patience, discipline which should be backed up with knowledge this is the only way newbies can stay put on the long run. So until anyone win this self battle coming into Bitcoin will not make any difference because, eventually such people will chicken out sooner or later.

You are right alot of persons have being involved in ponzi which has made them not to be stable and balanced psychologically making them have double thoughts about bitcoin investment and so for them to be successful they need to work on all you have mentioned so that they will be able to invest and hold it for a long term without fear but trust in Bitcoin.

[SatoPrincess]

Every successful trader understands that discipline is just as important as studying the market movement. For hodlers, it’s easier when you invest money that you can afford to lose and use dca as accumulation strategy. That way you feel less pressure on your investment.

[Joy- maker]

I always tell people, especially newbies that it is not about rushing to buy bitcoin, can they survive the test of time, because success in bitcoin comes from endurance rather than the act of purchasing.

Bitcoin is not a get rich quick investment, therefore anyone who is approaching it with such mindset won't even hold up to a year, they may sell at early sage of their accumulation due to panic or lose it to scammers because they will be looking for platforms where they can make quick money.

If you truly want to invest in bitcoin, you should have it at the back of your mind that what will keep you going or keep holding onto your bitcoin investment is your mindset, therefore approach bitcoin with right mindset long term mindset not short term for your own good.

[Achalugo BTC]

Every successful trader understands that discipline is just as important as studying the market movement. For hodlers, it’s easier when you invest money that you can afford to lose and use dca as accumulation strategy. That way you feel less pressure on your investment.

On point, discipline and self-control is one of the essential keys that every investor must act on, whether beginners or not, its very important because without it, people can make irrational decision that might lead them to sell due to panic and buy without proper investigation or information that, but with discipline, it will help to guide them and sustain their decision so that even if the market is fluctuating, it will not make them to lose money.

[Fiatless]

In all business endeavours, knowledge, patience and discipline are essential. Investing in a highly volatile asset like Bitcoin requires the right strategy and mindset. Knowledge about how the market works is important and having the guts to keep hodling even when the media is filled with FUD-generating news requires patience and discipline.

[Hewlet]

Many people sell in Panic and wait for a time which is perfect for them to buy out of the fear of losing money. But I was contemplating and have realized that, when it comes to Bitcoin investing the greatest battle, is often not against the market but is fought against your own self,emotions and psychology.

As an individual investor, there's actually little to nothing you can to influence the market since you're just an insignificant figure when it comes to the weight you're putting into how much of bitcoin you're holding. It's a big waist if you're putting your effort on things that are not in your control but a good gain if you channel that energy into the right thing by consistently staying invested and ensuring that you've built the kind of emotion that doesn't subscribe to selling off just because others are doing so.

In terms of order, what you do within is the strongest that carries everything that you do without. If You have a small mind, it's going to affect how much you're going to be willing to remain invested in bitcoin without going off.

[Makus]

Every investment is psychological especially when it comes to Bitcoin investment, you cannot invest without in Bitcoin without having it at the back of your mind that you must first of all understand the psychological aspect of making an investment to avoid getting emotional when things doesn't really go according to the way you planned. Even though Bitcoin is less volatile than altcoins sudden dips can occur and if you are not mentally mature enough to handle the pressure the temporary losses comes with you might act based on emotions.

[Grace333]

This is not limited to bitcoin alone, the first battle anyone who wishes to become successful must fight is a mental battle, you have to fight yourself first not by fisting punches but by renewing your mind to accept the new terms and conditions different from the ways the world and our schools have taught us. One must have patience to be able to survive his bitcoin for long term which is the standard investment timeline for those who are interested in making profits from their investment.