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.
Like seriously ? I know the fact that sometimes checking the price daily might lead to anxiety and blood pressure but the statement you made "day traders don't live long" is a very bold one. Not all day traders develop this habit and not all day traders develop blood pressure or so.
I am not a day trader yet I keep checking bitcoin's price first thing in the morning but I don't take it so seriously because I know that these fluctuations happen on a daily basis and even if I am in a loss, I will definitely get a chance to recover it.