Most people are playing the wrong Bitcoin game

[Outhue]

Most people are trying to time the top or bottom of Bitcoin .


Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

Many people want Bitcoin but the life surrounding them isn't making it easy, someone who makes small amount of money from their jobs every month might not have enough to buy Bitcoin, even though they can buy $20 worth of Bitcoin every month they will feel like they are not getting anywhere.

Such people will start looking out for miracle, fast moves up so that they can make good money, some of them will even abandon Bitcoin and go for altcoins. Bitcoin investment is presently best for those who are making enough amount of money for themselves.

[Sunshine1525]

Many people want Bitcoin but the life surrounding them isn't making it easy, someone who makes small amount of money from their jobs every month might not have enough to buy Bitcoin, even though they can buy $20 worth of Bitcoin every month they will feel like they are not getting anywhere.

Such people will start looking out for miracle, fast moves up so that they can make good money, some of them will even abandon Bitcoin and go for altcoins. Bitcoin investment is presently best for those who are making enough amount of money for themselves.

Are they expecting to remain with little income forever, don't they think about progressing? Knowing that Bitcoin has the potential of offering financial freedom should even motivate such people to look for more source of income to increase their discretionary income, having a low income is not an excuse.

Making wealth requires patience, there's no two ways about it, i know that some people might be lucky to get a huge amount of money from short term opportunities but such luck doesn’t come always and is more riskier.

[Zaka1221]

Many people want Bitcoin but the life surrounding them isn't making it easy, someone who makes small amount of money from their jobs every month might not have enough to buy Bitcoin, even though they can buy $20 worth of Bitcoin every month they will feel like they are not getting anywhere.

Such people will start looking out for miracle, fast moves up so that they can make good money, some of them will even abandon Bitcoin and go for altcoins. Bitcoin investment is presently best for those who are making enough amount of money for themselves.

Dream about keeping bitcoin in a portfolio increasing, but it's surely not easy because in many countries people do not have enough earnings to buy. Even if they are not able to keep the investment for a small amount, they always need to try their sources and also have enough to stay on a good level because without maintaining their situation, it's never been easy to have bitcoin and also keep this for a long time. Miracles happen, but not for all, or few have the potential to do it.
They are done for these here; they always need to use good strategy and have a good way of keeping things on level. Work wisely and have a strong mindset; success will always stay with people who have good mindsets and positive ways of going beyond their limits. No doubt Bitcoin is having enough for everyone; just go ahead with the good way and take your share.

[Mansoveh]

No matter how much planning one takes in investing in Bitcoin, the only good investors are those who move forward with long-term planning and continuity of purchases. Because holding Bitcoin for the long term is the only way to achieve success, but not by looking at the price of Bitcoin, but the lower the price of Bitcoin, the more you should take the opportunity to buy.

Agree ?

Those who have been investing in Bitcoin in the past are successful today, and those who will participate in Bitcoin investment from now on will be successful in the future. Look at the Bitcoin price cycle. It is the cycle where Bitcoin price reaches an all-time high every four years, so Bitcoin price will reach an all-time high again in 2029, so this is the biggest opportunity to buy Bitcoin at the present time to take advantage of that opportunity.

Your points are valid. Bitcoin investment is not something we should doubt about even if he check it past history and how Bitcoins have become. Checking the charts all the time will not help in any way. Those with fear mind will sell because Bitcoin is a volatile asset, it change in price every day and time. Going through about Bitcoin history, I don’t think anyone would ever find it difficult to buy for a long time, I think knowing it history will make some folks feel it worth the risk and sacrifice people make for it. 2029 is 3 years from now, every investors hope to see Bitcoin climb above another high time price every year. The next three years will not be a disappointing for those that believe in Bitcoin.

[nara1892]

I have a reason why I have to agree with what the OP said, when we monitor the market too often, we not only get new information but also remain constantly exposed to the fear of losing money especially when prices start to fall the urge to take profits immediately, and the temptation to change strategies. As a result, a strategy that seemed reasonable at the start can change simply because of a momentary emotional reaction, and ultimately this can lead to losses or prevent you from achieving what could have been greater profits.
In my opinion, the best strategy for accumulating assets is to consistently keep buying, for example, through dollar-cost averaging (DCA).

[Donk1]

This is because of how people see and perceive Bitcoin after investment. First of all, they see it as a get rich quick scheme and allocate a timeframe to take profit from the investment. As long as they keep seeing it this way, they’ll be moved by every change in the market and their emotion will make them to take decisions that will not favour their investment.

Just like you suggested, invest and stop checking the market over again will give you more peace of mind and will not push you to want to go against the criterion for holding for the long term. Bitcoin for the long term is the best to save yourself from taking unnecessary risk just wanting to protect your funds from falling in value.

​Well psychologically folks who come into the crypto space looking for how to store the value of their funds should understand the value of an asset beyond it just being an investment. Best to say treating your investment like it's trading is very wrong basically, you are taking a very big risk which could cause potential loss. To me you can't even call that an investment, because it's more like a gamble for profits in a highly volatile market.That said checking your investment isn't bad if you truly are holding for the long term. Perhaps every 2 weeks you can check the price of the assets if it's Bitcoin or altcoins though for altcoins, it should be different based on their values and reputation and their potential for the long term growth ,because some altcoins don't have long term value. Still where it becomes an issue is when you constantly do it. It could cause you to make some irrational decisions in your investment that's all.......

[kawetsriyanto]

Your points are valid. Bitcoin investment is not something we should doubt about even if he check it past history and how Bitcoins have become. Checking the charts all the time will not help in any way. Those with fear mind will sell because Bitcoin is a volatile asset, it change in price every day and time. Going through about Bitcoin history, I don’t think anyone would ever find it difficult to buy for a long time, I think knowing it history will make some folks feel it worth the risk and sacrifice people make for it. 2029 is 3 years from now, every investors hope to see Bitcoin climb above another high time price every year. The next three years will not be a disappointing for those that believe in Bitcoin.

So far, it is valid. Bitcoin could create ATH in each bullrun season. So, it is quite likely to create a new ATH in the next bullrun season (2028-2029). However, there is no guarantee this to always continue in the long time in the future. The cycle can change, Bitcoin price may also rise not as significant as in the past. We must understand that crypto market isn't always predictable.

Checking the price history may be quite helpful for someone. He can ensure to know the Bitcoin price growth from time to time. So, it isn't really helpless.
However, it isn't quite necessary to check the price movement in each day. Especially for a long term holder, it is not really helpful unless he has a plan to buy Bitcoin in the near future. In this matter, it is quite reasonable to check the price daily to determine the best price for buying.

[puloweh555]

I have a reason why I have to agree with what the OP said, when we monitor the market too often, we not only get new information but also remain constantly exposed to the fear of losing money especially when prices start to fall the urge to take profits immediately, and the temptation to change strategies. As a result, a strategy that seemed reasonable at the start can change simply because of a momentary emotional reaction, and ultimately this can lead to losses or prevent you from achieving what could have been greater profits.
In my opinion, the best strategy for accumulating assets is to consistently keep buying, for example, through dollar-cost averaging (DCA).

When investing in bitcoin, the best strategy is often the most boring one just consistently accumulating satoshis without trying to guess the top or bottom of the price. So, the DCA strategy lets us buy regularly with money we’re okay losing without getting affected by emotions especially in the short term which indirectly reduces the risk of making impulsive decisions due to price fluctuations.

Besides, by not constantly monitoring the charts, it really helps us protect ourselves from fear, FOMO and the temptation to change plans we’ve already set from the start. So the DCA strategy is indeed a strategy that has a chance to gain long term profits that are much bigger than trying to time the market, whether it’s going up or down, which is almost impossible for anyone to do consistently. So, like the title of this topic suggests many people use the wrong strategy because they have the wrong view of Bitcoin.

[Emeraldo]

I have a reason why I have to agree with what the OP said, when we monitor the market too often, we not only get new information but also remain constantly exposed to the fear of losing money especially when prices start to fall the urge to take profits immediately, and the temptation to change strategies. As a result, a strategy that seemed reasonable at the start can change simply because of a momentary emotional reaction, and ultimately this can lead to losses or prevent you from achieving what could have been greater profits.
In my opinion, the best strategy for accumulating assets is to consistently keep buying, for example, through dollar-cost averaging (DCA).

Maybe we need to blame those Bitcoin investors that are mostly checking the price of Bitcoin when they are supposed to use their time and think of better thing that will be informative to them. I see investors that are looking for how to make quick money from the market as those that are always checking the price of Bitcoin to know when they are going to take profit and when they are going to take the opportunity to rebuy when price dips. With this kind of behavior, there is high chances of making mistakes that can be highly severe after buying at a price that can be seen as unfavorable.

[lombok]

I have a reason why I have to agree with what the OP said, when we monitor the market too often, we not only get new information but also remain constantly exposed to the fear of losing money especially when prices start to fall the urge to take profits immediately, and the temptation to change strategies. As a result, a strategy that seemed reasonable at the start can change simply because of a momentary emotional reaction, and ultimately this can lead to losses or prevent you from achieving what could have been greater profits.
In my opinion, the best strategy for accumulating assets is to consistently keep buying, for example, through dollar-cost averaging (DCA).

Maybe we need to blame those Bitcoin investors that are mostly checking the price of Bitcoin when they are supposed to use their time and think of better thing that will be informative to them. I see investors that are looking for how to make quick money from the market as those that are always checking the price of Bitcoin to know when they are going to take profit and when they are going to take the opportunity to rebuy when price dips. With this kind of behavior, there is high chances of making mistakes that can be highly severe after buying at a price that can be seen as unfavorable.

Looking at the graph all the time creates a state of anxiety that affects the mind’s focus. Fear caused by short term changes often compels one to break fundamental plans that are supposed to work seamlessly. Fear caused by numbers is responsible for spontaneous moves that are not thought over in advance. Periodical buying acts as the best possible protection from momentary emotions. Focusing on asset value appreciation rather than prices fluctuations protects your funds from the danger of being completely wiped out.

[Mr Reporter]

Long term investing requires discipline, if you notice that you check the charts very often, then any market movement will affect your decisions. In that case, being a long-term holder will be very difficult because big drawdowns and corrections will make you think about selling or just worry too much about your investments. But if you are disciplined and can buy and wait for as long as necessary, sometimes even for years, then investing in Bitcoin might be right for you.

Someone who can easily be emotionally moved by price is advised to uninstall anything that has to do with and can send price signals to the person to reduce the amount of negative pressure it can put on them that way they can control their self to a certain level and it they really want to hold for longer they can keep their wallet access in a safe place far from them so that they don’t easily access it to sell off.

This days so many people have come to the conclusion that discipline is all about Willpower while checking your chart 24hr is not, some has said to me that what we call real discipline is about designing your environment so you don’t need Willpower….

Just like you have said if the price notifications is making you feel anxious all the time it best to uninstall it, if you want to deal with your habits you need to cut it off totally to be set free, let them take it as Price alerts which are useful for day traders, and a biggger poison for long-term holders.

[kawetsriyanto]

This days so many people have come to the conclusion that discipline is all about Willpower while checking your chart 24hr is not, some has said to me that what we call real discipline is about designing your environment so you don’t need Willpower…

We are talking abut Bitcoin. I'm sure most people are holding Bitcoin, only some who really trade Bitcoins. Since people are mostly holding Bitcoin, they don't really need to check the charts too often. So, checking the charts 24 hours are very useless. By the way, discipline isn't about willpower only, it is about controlling the mentality to survive and immune with challenges.

Just like you have said if the price notifications is making you feel anxious all the time it best to uninstall it, if you want to deal with your habits you need to cut it off totally to be set free, let them take it as Price alerts which are useful for day traders, and a biggger poison for long-term holders.

Agree. We don't need to see the charts or exchanges too often if we easily feel anxious. People who still feel anxious, they prefer to hold Bitcoin and store the Bitcoin in the wallets for 3-4 years. Before the bullrun season is coming, it is better to not checking the prices. By the way, traders surely need to check the charts quite often because they buy-sell coins constantly. However, they mustn't easily feel anxious because a trader must be confident with his apporach.

[Smartvirus]

Maybe we need to blame those Bitcoin investors that are mostly checking the price of Bitcoin when they are supposed to use their time and think of better thing that will be informative to them. I see investors that are looking for how to make quick money from the market as those that are always checking the price of Bitcoin to know when they are going to take profit and when they are going to take the opportunity to rebuy when price dips. With this kind of behavior, there is high chances of making mistakes that can be highly severe after buying at a price that can be seen as unfavorable.

There is absolutely nothing wrong with trying to make quick money by studying the market for price movement or directions. That’s actually you having to trade and that’s one means to make quick money in this industry. You just need to know how to do it right which, is really difficult to archive.
It’s the reason many prefer hodling rather, trying out other fields within this space. Hodling isn’t the only thing there is here and should people be open to some risk taking that, wouldn’t involve them requiring a third party to help them invest or increase their hodlings, that’s fine.

[As-Soon-As]

I have a reason why I have to agree with what the OP said, when we monitor the market too often, we not only get new information but also remain constantly exposed to the fear of losing money especially when prices start to fall the urge to take profits immediately, and the temptation to change strategies. As a result, a strategy that seemed reasonable at the start can change simply because of a momentary emotional reaction, and ultimately this can lead to losses or prevent you from achieving what could have been greater profits.
In my opinion, the best strategy for accumulating assets is to consistently keep buying, for example, through dollar-cost averaging (DCA).

Yes, those who will invest in Bitcoin for the long term should check their wallets and monitor the price of Bitcoin repeatedly. If the price of Bitcoin starts to rise and fall, then of course he can give up his Bitcoin holdings by taking the slightest benefit. So we should definitely be careful not to face this situation, so I also agree with op.
This position is very good and will be beneficial enough to hold for the long term, if you invest in Bitcoin for a long time, then you must stay away from market research and work hard to increase your income. Because the more you use discretionary income in Bitcoin investment, the more the chances of success in the future will increase.