Quote from: Quidat on July 24, 2021, 08:16:12 PM

Quote from: virasog on July 24, 2021, 06:18:50 PM

Quote from: Renampun on July 24, 2021, 06:06:43 PM

Quote from: 777Jolami on July 23, 2021, 06:24:57 AM

Panic and tremors only make us fall into the arms of bears, some people appear to haggle over the price of bitcoin to buy when the market breaks strongly, they may lose more than their advantage. I'm not nailing the bottom, because I'm bullish on bitcoin. Buying at 29-30k is a good reassurance. I guess we're going to be strong this weekend.

those who panic will get nothing in the market...

Buying when the market is bullish and selling when the market is bearish is stupid behavior. the best time to buy is when the market is bearish, then control your panic, don't be like a stupid newbie who always panics.

The fear and greed index represent the opposite of this behavior. People normally loves to jump in a running train and hardly take any position while the train is still and not moving. I don't understand the nature of the people that they will feel hesitant to buy bitcoin at 30K but these people were happy buying at 60K Roll Eyes

Always been like that on where people do really end up on buying on higher price or when Fomo or rally is happening and doesnt really do those things when the price is going down.
Its a bit understandable that we would all be that hesitant and as part of human nature then it isnt surprising but there are ones who do really take a risk and dont mind about
being scared nor fear out and its neither they do lost money but most of the time, bitcoin does recover which simply means that they are really making profits later on.
It is just a matter of risk taking but not all would really be having that kind of behavior.

It costs more mental strength to buy an asset that is on its way down, but that is exactly the right way to go about it. As you said if FOMO kicks in you are going to make bad decisions and freak out even more when right after you bought the coin starts dropping again. If you buy smaller amounts while it is dropping you feel better with every positive bounce it makes. Still, that's something you got to learn.