As you see, bitcoin's price felt from 6500 to 3700. From the very first day, there was panic and fall was very intense. In situations like this one, how do you act? Do you sell bitcoins, wait a little for more fall and then buy more with same cash? Or so you fully support bitcoin and hold it?
I ask this because want to know what community here does in such situations, do you do good for bitcoin or worsen situation?
First, remain calm despite the significant decrease in price. I typically invest the money that I am willing to lose and regardless of what the result may be I will hold my bitcoins until they achieve my long-term goal. I only invest 10% of my income to cryptocurrencies and diversify by acquiring different coins (ETH, Litecoin, and XRP) to minimize my losses.
When the price falls, I still able to hold my bitcoin because I still want to be accumulated and save it for future purposes. Sometimes I buy some of it. If I need it, I automatically sell it even if it dips as long as I need it or emergency purposes. So it also depends on my situations.
well, i did that too. basically I will continue to hold back the assets that I have, especially in this case. however, I also think like you, because when we need money, selling assets will be a pretty good way. however, holding assets is paramount.
Before you invest, know what your goal is. If you determine that by purchasing bitcoin at a specific price, your goal must be at least to accumulate profit depending on your target margin. If price falls unexpectedly, holding may be the better decision instead of panic-selling/liquidating most of your bitcoins. Again, only invest the money that you are willing to lose.