Quote from: JoyMarsha on August 20, 2023, 10:12:54 PM

Quote from: _BlackStar on August 18, 2023, 07:42:26 PM

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My hope is only one; avoid panic - just hold your bitcoin and accumulate.

Whoever ever panics about the price of Bitcoin, in my opinion, doesn't understand anything about the crypto market, and he doesn't need to invest in it to keep his emotions in check. If you lack the necessary mental capacity, stay far away from investing in crypto. That's the piece of advice I gave to the newbies. Accumulating bitcoin at this declining price is the best idea for someone who believes in bitcoin and has the patience to do that.

Whatever the current state of the crypto market may be, one thing is for certain. The downturn won't last forever. Focusing on the short term but not the long term can only cause panic.

For those who are just starting out and don't understand the crypto market well, of course they will experience panic, I have felt this way too, but over time this will make us understand that there is no need to panic in situations like this. Your advice is great for those just starting out, if you have a lot in savings now is a good time to buy and hold to profit if the price goes up later.