Emotional Intelligence and Bitcoin investment

[PremiumcryptoHub]

You made a good point. Investors who are able to keep their emotions in check are the ones that truly benefit from Bitcoin.  Knowing everything about Bitcoin doesn't stop someone from making mistakes, knowledge only aids in your understanding about what you are putting your money into. When an investor allows fear and fees to overcome them, that when they make poor decisions that ruins their Bitcoin investments. people who come into Bitcoin investments due to FOMO are those who have a short term mindset.  Because they feel that since the price is rising let me put my money into it now so after feww days I will withdraw it asap.  That is a poor mentality. Investors must learn how to exercise patience, stop reacting to market prices, invest only what they can afford to lose.

Exactly, it is true that only those investors who can invite emotions can make real profits from Bitcoin investment. One should not invest in Bitcoin with emotional intelligence because to achieve success from this investment, one must invest with a long-term mindset, so those who are buying BTC with their naira in the hope of making a quick profit may make wrong decisions based on emotions that destroy their Bitcoin investment. You are right that those who come to Bitcoin investment out of FOMO have a short-term mindset because they sell their investment in a very short time and think that they will be able to withdraw their profits quickly in a few days, so at this stage it is clear that investors need to stop reacting to the market price and learn to be patient, which will make the path to achieving success from BTC investment easier.

[Derekfunds]

What are your practical ways of managing emotions when it comes to bitcoin investment??

In Bitcoin investment emotional control they play very big role. But one thing that have being helping me is having a plan down before I buy. First I should know why am buying Bitcoin and the goal is for a long term accumulation. So this won’t make short term price movements affect my decision. And also I do much help to myself by avoiding to be checking price movements constantly this triggers unnecessary emotions. You do more good to urself by sticking to your plan and avoid unnecessary panics

Emotional control doesn't only play an important role in Bitcoin investment alone even in trading too someone need to have emotional control so that they won't be chasing unnecessary losses which can later cause depression. However, sometimes it can be hard to see our business or investment going the opposite side but we gats know say na so e dey be sometimes and no be everyday person go dey make profit na something we supposed accept for people wey dey trade but for investors them no need panic because the market go correct and move to the  right direction na the advantage of investors be that.

[Rgram]

-Focus on system over feelings

What are your practical ways of managing emotions when it comes to bitcoin investment??

It really does come down to having to “focus on system over feelings”.

While feelings is a natural response to just about anything and you are always going to have emotions cloud your judgement and how you come to make decisions, systems remains the one thing that never fails to direct just where you should be placing interest and applying strategies. That’s because, it’s basically history and history could repeat themselves while accommodating certain changes.

When you use this as pointers, you would solve a lot of your problems with emotions.

[Franklyn-wood]

What are your practical ways of managing emotions when it comes to bitcoin investment??

In Bitcoin investment emotional control they play very big role. But one thing that have being helping me is having a plan down before I buy. First I should know why am buying Bitcoin and the goal is for a long term accumulation. So this won’t make short term price movements affect my decision. And also I do much help to myself by avoiding to be checking price movements constantly this triggers unnecessary emotions. You do more good to urself by sticking to your plan and avoid unnecessary panics

Emotional control doesn't only play an important role in Bitcoin investment alone even in trading too someone need to have emotional control so that they won't be chasing unnecessary losses which can later cause depression. However, sometimes it can be hard to see our business or investment going the opposite side but we gats know say na so e dey be sometimes and no be everyday person go dey make profit na something we supposed accept for people wey dey trade but for investors them no need panic because the market go correct and move to the  right direction na the advantage of investors be that.

We are not always conscious of how we control our emotions when it comes to Bitcoin investment compared to other investmenta we have and we are carried away by sentiments that makes it feels like Bitcoin has a special process that different from other business or investment we run. Having a better understanding about Bitcoin makes it more able to manage any emotional feeling that could disrupt any one from trading or holding Bitcoin for more longer time before it starts to yield.

[CryptopreneurBrainboss]

What are your practical ways of managing emotions when it comes to bitcoin investment??

I forget about my investment, that's my little secret. I once open an old wallet and saw some Bitcoin that I bought in 2017 when I started investing in Bitcoin and I was surprised myself that I still had some Bitcoin I bought since then in there. What many people do that cause them to panic when the market is falling is that they get too emotionally involved in their investment, being a trader can also make you too emotionally invested that is why as an investor, you have to let go of all your emotions and consider your investment as losses already then wait until you get rewarded for forgetting. What I'm trying to say is that don't get too over excited when you invest instead invest and forget about it but consciously stay updated for security issues regarding wallet so as to protect your investment very well.

[Tonimez]

What are your practical ways of managing emotions when it comes to bitcoin investment??

I forget about my investment, that's my little secret. I once open an old wallet and saw some Bitcoin that I bought in 2017 when I started investing in Bitcoin and I was surprised myself that I still had some Bitcoin I bought since then in there. What many people do that cause them to panic when the market is falling is that they get too emotionally involved in their investment, being a trader can also make you too emotionally invested that is why as an investor, you have to let go of all your emotions and consider your investment as losses already then wait until you get rewarded for forgetting. What I'm trying to say is that don't get too over excited when you invest instead invest and forget about it but consciously stay updated for security issues regarding wallet so as to protect your investment very well.

This is apt, precise and practical, I think this is the summary of what an emotional Intelligence should look like when it comes to bitcoin investment. The real issue is that some folks invest beyond their financial capacity that they now see their bitcoin as their means of livelihood instead of seeing it as it's supposed to be, "an investment".

To forget your investment, a person will have to invest within his means and just like you mentioned, seeing your investments as a loss from the initial stage will make you not to expect too much from bitcoin and even not expecting too much from bitcoin won't mean you have lost it all. Some people also confuse trading with investment, they initially start as investors but because of panic they end up selling off their bitcoin even at loss.

This skill of forgetting your investments and/or seeing at as a loss from the beginning is a good idea about staying emotionally stronger while allowing your investments to go through years that would eventually amount to something big in the long-term.

[yixichloro2xx]

What are your practical ways of managing emotions when it comes to bitcoin investment??

In Bitcoin investment emotional control they play very big role. But one thing that have being helping me is having a plan down before I buy. First I should know why am buying Bitcoin and the goal is for a long term accumulation. So this won’t make short term price movements affect my decision. And also I do much help to myself by avoiding to be checking price movements constantly this triggers unnecessary emotions. You do more good to urself by sticking to your plan and avoid unnecessary panics

Emotional control doesn't only play an important role in Bitcoin investment alone even in trading too someone need to have emotional control so that they won't be chasing unnecessary losses which can later cause depression. However, sometimes it can be hard to see our business or investment going the opposite side but we gats know say na so e dey be sometimes and no be everyday person go dey make profit na something we supposed accept for people wey dey trade but for investors them no need panic because the market go correct and move to the  right direction na the advantage of investors be that.

We are not always conscious of how we control our emotions when it comes to Bitcoin investment compared to other investmenta we have and we are carried away by sentiments that makes it feels like Bitcoin has a special process that different from other business or investment we run. Having a better understanding about Bitcoin makes it more able to manage any emotional feeling that could disrupt any one from trading or holding Bitcoin for more longer time before it starts to yield.

For me, I see Bitcoin as one asset that requires enough patience, understanding, demands discipline and emotional control. Any investors who lack these things are often easily influenced by their emotions. When emotions take over, it affects their decision where they start panicking unnecessarily where they sell because of fear and to collect quick profit. Investors should know how to plan their finances, avoid unrealistic expectations, learn more about Bitcoin and build their emergency funds as a safety net that will protect them from touching their Bitcoin. Our mentality is the main factor that determines our investment outcome, if we are able to work on that , then there's a strong possibility of long term gains.

[Yeesha]

We can all say control your emotions without stating the underlying conditions that put one in those emotional turmoils. First of all, one has to identify what  puts them in constant fear, constant emotional drain, panic and the likes of them. After identifying those conditions it's left for that person to avoid those conditions that puts them in those panic mode or FOMO and others. You cannot completely avoid your emotions but you can suppress those activities that put you in that negative state.

I think one of the major things that can put an investor in that conditions and trigger fear or greediness is seeing others succeed in their investment, some people will get emotionally attractive or attached to other people's life, opinion or success and at the end of the day, they will started thinking of how to become like those people, without even thinking twice about the consequences of their actions. Imitation and comparisons can have severe effect on one's life.