Many investors get addicted to checking the price of bitcoin first thing in the morning whether it be they're semi-holders or HODLERS (aiming to hodl for a very long time) . I read somewhere in respect to the stock market stating that, 'many investors day is determine by the price of his/her investment, leading to a great start if the price is up and bad start if price is down", because they checked the price of their investment first thing in the morning.
Although this information was based on the stock market, I know it also occurs in the Crypto market therefore I decided to give this advice here to benefit members of this forum, "avoid checking the price of bitcoin immediately you wake up in the morning, by so doing you're subconsciously programing your brain to response based on the price of bitcoin daily and these isn't good for your health. there's no gain in having wealth without health because health is wealth.
Question for viewers, if an investor is struggling with this addiction (checking the price of bitcoin daily), what steps do you suggest he uses to overcomes it.
Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.
Whether you check early in the morning, late at night, maybe during the night, it still does not change anything. Only a newbie who is so anxious and not ready to deal with the factual nature of the crypto market would be carried away with the checking of prices every now and then.
Its high time people started to believe that there is no magic anywhere. The underlying reason why someone would be so engrossed with the price of bitcoin is if you are expecting a magic to happen. You want to invest today and expect $500 increase in its price the next hour or the next day. If that is not outright greediness, I don't know what else it can be called. Sometimes when I trade, I buy then put up a sell order to my estimated profit most times this estimated profit is not something I expect to be achieve within the hour and I just lock up on that to come few days later to see how far or better my coins have done. I could have made more money by monitoring the dynamics of the market but I chose to be contended with the profit I have set for myself which every trader should do and with that, you get to have peace of mind.