Quote from: Gallar on October 16, 2023, 02:41:44 PM

Quote from: Ultegra134 on October 11, 2023, 05:52:57 PM

~Snip
How do you cope with waiting?

Feeling tired of waiting for something is like waiting for the price of bitcoin to rise. It is certain that most bitcoin investors have felt bored with this. But in my personal opinion, feeling bored waiting for Bitcoin prices to rise is normal. Because waiting means there is definitely a possibility of getting bored. So this is where we as bitcoin investors will be tested. Do you have to continue to survive and be strong in holding bitcoin until the desired price, or sell it at any profit. Therefore, when investing in bitcoin, it is highly recommended to use cold hard capital. Actually, this is all because it is useful for reducing boredom while waiting for the price of bitcoin to rise. Because if you use cold money to invest in Bitcoin, your mentality will be calmer and more controlled. In contrast to using hot capital, it will definitely trigger more mental and inner unrest.

So in my personal opinion, to reduce boredom or impatience when waiting for the price of bitcoin to rise, that is by using capital with cold money when investing. Apart from that, other income is needed while waiting for the desired bitcoin price to be reached. Because investments definitely take a long time to gain profits, including bitcoin investments. Therefore, other income is really needed here so that life and finances are more normal. And finally, my advice is not to remember your Bitcoin investments too often and not to look at market prices too often. Just look at the market at least once a month. Because from my personal experience, to be honest, if you watch the market often it will affect your psychology and will ultimately cause feelings of anxiety, fear and boredom.

Bitcoin investing, like any other, demands mental strength to endure volatility. I understand your "boredom" viewpoint. However, investment ideas should be founded on statistics, long-term vision, and thorough study, not emotions or emotional states. Your "cold money" idea is valid. This prevents financial desperation-driven fast decisions when the pressure comes, which it will.

As you said, income diversification is crucial. Bitcoin is risky yet has potential rewards. Putting all your eggs in one basket? Risky move. The idea of not obsessing over market prices is smart, but once a month may be too rare. Regular, non-obsessive monitoring can inform judgments. However, anxiety, fear, and boredom will always lurk. Success in Bitcoin's unpredictable world depends on how you manage them.