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.

[Su-asa]

Have a long term investment mindset and only invest with what you can afford to lose to enable you overcome fear when the market is experiencing a dip. Set up an emergency funds to tackle any unexpected emergency and don't listen to the noise in the market. Stay focus and accumulate within your discretionary income. Don't allow greed make you buy beyond the amount you can afford to lose during the dip

Using discretionary income is the easy way to avoid or overcome the feeling of fear after making an investment in Bitcoin, the problem with a lot of people is that they invest their emergency funds or amounts of money that they cannot afford lose, this is the reason why they get pressured to sell their coins because they are afraid of losing. Making an investment is a way of building wealth and you cannot do this in fear.

[Ndabagi01]

Fear happens and tend to occur before one starts their investment in bitcoin but when we talk about greed, this happens when you’re already an investor and refusing the take profit as at when due, waiting for the market to give you more. Bitcoin investment is a big asset that when invested in, gives one an advantage over many things in their financial journey. The investment is not what to think twice about before taking action, you miss out on more when you stop yourself from investing early and contemplating about the investment.

[Versatile_choice]

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.

This is just the summary of what every beginners or new investors need to understand before getting started with bitcoin Investment, because it seems to me that most Investors lack proper orientation about bitcoin investment that is why they end up messing their Investment up in their early stage.

And yeah, I believe an Investor who understands all this rules that is been listed here may not find it difficult to cope in their bitcoin investment, because all this mistake you just ironed out is the most common mistake that every beginners usually make.

[Ever-young]

You actually passed a message but two ideas if yours doesn’t really sit well with Me, though maybe be true to some extent but my opinion contradicts it.

Being slow in decisions making doesn’t do an individual any good, we’re in a century where by; while we stay patient we work smart. One just needs to be calculative with every step. Being slow is a No for me. To some extent, I understand that the message you’re trying to pass could be very valid and aswell crucial but maybe vocabularies failed. And you don’t expect audience to understand it the way it appears in your head, but how you present it.

You’re very correct about conquering the fear of selling during dips.

But buying during rise cannot be generalized as greed. Everyone has their reasons of being in this space, just like our strategies are different. So you cannot generally call it greed.

[Different patterns]

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.
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.

Greed has made several investors to be scammed and also made them to be vulnerable to unnecessary pressure and losses, having a good approach or mentality to your investment is something you should prioritize in your investment because trying to predict the market and waiting for a particular time to invest is not necessary. You can accumulate bitcoin by investing in bitcoin at regular intervals

[Bright0515]

Fear happens and tend to occur before one starts their investment in bitcoin but when we talk about greed, this happens when you’re already an investor and refusing the take profit as at when due, waiting for the market to give you more. Bitcoin investment is a big asset that when invested in, gives one an advantage over many things in their financial journey. The investment is not what to think twice about before taking action, you miss out on more when you stop yourself from investing early and contemplating about the investment.

I don't think that this is an experience that everyone goes through, not everyone that starts bitcoin investment get scared of losing, it is important to gain knowledge first and also build confidence by learn learning more about market psychology, this is what makes investors bold enough to continue their investment even when it seems like the price of bitcoin is going down. A lot of people contemplate and there are some people that try to time the market, these are the people that end up missing out on opportunities.

[ruykeri]

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.

It is not uncommon for new investors to develop a mentality of making quick profits. However if you have the right knowledge and understand bitcoin correctly you can develop a mentality of investing in the long term according to your plan. And for those who think about additional profits, even if they have the investment mindset at the beginning they may develop a trading mindset after a while. However when it comes to investing in bitcoin a person cannot achieve the ability to invest just by having patience or knowledge about the market. It is mandatory for a person to have discretionary income. Because investing in bitcoin with the required money is the same as short term trading like gambling where profit or loss depends on luck. Therefore if a person wants to invest he must have discretionary income. Only then will he be able to continue investing patiently. And the knowledge he will gain over time will give him additional advantages.

[Mr Reporter]

Bitcoin knowledge is much easier to learn than personal knowledge of discipline, perseverance, and tolerance. Many investors have not been successful with their investments not because they lack knowledge of investing, but because their character and behavior have become a hindrance to their success. Being an investor demands a lot from a person. If we are not ready to give up a lot to remain consistent and disciplined, then investing is not for us.

Learning bitcoin basics knowledge should not be a big deal to lear such as what is Bitcoin, and how to buy bitcoin, and how to store your bitcoin in a wallet, does basic knowledge of bitcoin shouldn’t be a big deal to learn but when you talk of characters like discipline, perseverance, tolerance, that couldn’t be learned in just a week, if care is not taken it could take up to one year in learning to build such character, and this is one of the fuck up part were most investors fail…

Like you have rightfully said, most people did not just fail because they lacked knowledge. They failed because their character failed them. And that should be taken seriously as an investor…

This happened in my area some months ago two Guy buys, holds bitcoin for good 2 months, gets bored, sells then they sold to chase meme coin because he lacks perseverance….

[icebar]

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.
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.

Greed has made several investors to be scammed and also made them to be vulnerable to unnecessary pressure and losses, having a good approach or mentality to your investment is something you should prioritize in your investment because trying to predict the market and waiting for a particular time to invest is not necessary. You can accumulate bitcoin by investing in bitcoin at regular intervals

In investment, patience and the mindset of making the right decision are more important than profit. Many times, people deposit money in such places in the hope of additional profit, they cannot be sure about the security of their investment. On the other hand, when they see that the price of Bitcoin is increasing, they buy a lot in a hurry, and later decide to sell it out of fear when the price decreases. If you cannot control your emotions in this way, always has to be at a loss.

Bitcoin investment has to be invested with discretionary income, keeping aside money for family expenses and emergency needs. So that you are not forced to sell Bitcoin in an emergency. Being able to control your money and maintain investment for a long time is also a great success, rather than just looking at how much profit you have.

[Obulis]

The voice of greed and fear is an enemy of every invest, the simple or better thing this voices can only do is to stagnate a profile if not, it it has always destroy a profile. It can end a Bitcoin investment.
Greed will get an investor so tempted that he or she would hope to buy 1 Bitcoin with 1 dollar and so the price movement is their next name, they monitor Bitcoin price as if if they don't see and work with it they will die.