Why you should ignore the voice of fear & greed in Bitcoin investing.

[MainIbem]

The only way to succeed while setting aside fear and greed is to create a well defined plan and stick to it strictly. Determine in advance risk you are prepared to take, and under what specific conditions you will buy or sell coins. When the market becomes gripped by excessive frenzy exercise restraint conversely, when the market dips, avoid panic and remain focused on your long term goals. In short to succeed in bitcoin or any other high risk investment, you must base your decisions on discipline, patience, and data, rather than on emotions.

You seem to be mixing up investing and trading. The fact that you’re suggesting a beginner should plan ahead when to buy and sell is very misleading. We’re talking about how to avoid fear and greed while accumulating bitcoin, but that your statement is indirectly paving way for it.

The best way to ignore voice of greed(especially beginners) is to take your eyes off the dip/ price movements and focus on only regular buying and holding. Since the goal is to build a solid position over time, selling shouldn’t even be part of your plan during accumulation stage. That is why folks should prioritize building reasonable backup funds to protect their investment.

Beginners are not the only people investing so he might not be referring to them, moreover what stops someone who's held up to overaccumulation from selling some portions if they wish to, or are you expecting that people would hold forever? Even long term holders would eventually sell someday so he's right on knowing when to buy and sell, athough i prefer buying consistently when it comes to buying Bitcoin. Well your second statement is spot on, people who often monitor charts are likely to get emotional and make silly decisions that would affect their investment.

[Grace333]

Fear and greed are part of us and whether we like it or not, we can't do eliminate them. What we can do at most is to use them as leverage. Fear can be used into good for yourself, same as greed. Fear stops you from making rational decisions. Greed can be used when the market is in your favour and you take serious advantage of it. Finding the balance is very important as a person.

Greed should not be used even when the market is in your favour and that is because there's a possibility that you might end up incurring losses when you become overconfident, this can make you take the wrong decisions. Fear on the other hand can be helpful but at the same time it is capable of making you take the wrong steps when investing in bitcoin, the best thing you can do as a Bitcoin investor is to work on your psychology and mental maturity because fear can push anyone into making mistakes like selling your coins when you are not supposed to.

[fredericktaylor]

Fear and greed are part of us and whether we like it or not, we can't do eliminate them. What we can do at most is to use them as leverage. Fear can be used into good for yourself, same as greed. Fear stops you from making rational decisions. Greed can be used when the market is in your favour and you take serious advantage of it. Finding the balance is very important as a person.

Greed should not be used even when the market is in your favour and that is because there's a possibility that you might end up incurring losses when you become overconfident, this can make you take the wrong decisions. Fear on the other hand can be helpful but at the same time it is capable of making you take the wrong steps when investing in bitcoin, the best thing you can do as a Bitcoin investor is to work on your psychology and mental maturity because fear can push anyone into making mistakes like selling your coins when you are not supposed to.

Yes, overconfident always leads people in the wrong direction, it is good to have confidence but it is important to understand that nothing is too much. The reason why people get scared or panicked by the market volatility when investing in Bitcoin is because of lack of knowledge and short-term planning, due to which the investor quickly panics and starts walking in the wrong direction, so you have to invest within your means with the right knowledge, long-term mindset and consistency, you have to be aware of the risks, you cannot invest aggressively in the hope of extra profit, you must maintain investment discipline and hold the investment for a long time, if we cannot control greed, then the possibility of financial loss can increase manifold.

[Bright0515]

I don't think there is a wrong time to buy Bitcoin, I concur that you should not be greedy but even if you buy Bitcoin when the price us going up and you are a long term holder you will make it.

There is no right or wrong time to invest in Bitcoin, a lot of people just have a different idea about investing because of the different seasons in the crypto market, they assume that they always have to wait for the bear season thereby timing the market. It is extremely difficult to time the market because it's impossible to always predict the market.

The greedy by I don't concur with are those looking for cheap ways to get Bitcoin, these greedy ones are susceptible to getting scammed if what they have.
I concur with ignoring fear in Bitcoin investing, fear can make any bad news sound true even if they are just propaganda against Bitcoin.

People that have gotten so used to investing in ponzi schemes are the ones that are always always quick to look for quick ways to make money from Bitcoin and also quick ways to buy Bitcoin, this is the reason why they always end up incurring losses.

[Orpichukwu]

Do not borrow money to invest in bitcoin.
Do not use emergency fund to invest in bitcoin.
Do not use other people money to invest in bitcoin.
Do not invest huge amount of money that can affect your life in bitcoin but go with just discretionary income.

Do not treat Bitcoin like it’s another soul attached to your life, or jay, when you sell it, you won’t live to see another day. This is advice to those who start asking what to do when they are in some financial life or death situation, Bitcoin is a treasure but it’s nothing close to human peace and life, when their is pressing needs and no other means of raising finances one should not hesitate to sell and solve their problem.

[MyWarLord]

Learn to ignore the voice of fear and greed they will affect your decision and make you loose money, fear comes when the price of bitcoin start falling. When the price of bitcoin start falling you don’t have to panic understand why the price is falling before you make any decision. Don’t make decisions out of emotion, don’t allow greed of wanting to make more money make you take unnecessary risk be patient and avoid taking unnecessary risk.

[Franklyn-wood]

Taking slow decision doesn't mean the decision is right because it is possible for someone to still make mistakes even after carefully considering their decision.The most important thing is to understand how the market works and to invest using discretionary income this will help us to avoid making emotional decisions when buying bitcoin. The mistake with most beginners is that they are buying bitcoin with the mindset of making quick profit and this is mostly due to lack of patience.

Tension is part of the Bitcoin investment which makes it rise and fall and many investors allow this to affect there decisions mostly when when they observed that Bitcoin price is dropping, they begin to panic because they are afraid of lossing anything in there invest not even  a cent. When I started Bitcoin newly I preferred to trade Bitcoin than to hold, because I feel hold will tie down my money at a place when I can just trade and get returns I a short while. This same idea is common to newbies in Bitcoin, as they are impatient to wait a long to holding their investment with lesser risk involved. Fear naturally is a torment to the body and stress the mind.