Quote from: Publictalk792 on Today at 03:51:52 AM

Quote from: ginsan on December 15, 2023, 10:09:18 PM

We all need to learn to be able to control our emotions when we see the market turning red because I see many of them who are not prepared when price changes occur and that can make them make the wrong decisions if they panic. In investing, we must be prepared to lose, because we know that the price of Bitcoin is quite volatile and could also be beyond our expectations. That's why use money that is not used for other purposes and also doesn't become a burden on your mind when prices suddenly drop drastically.

I don't think so that anyone should be panic when there is high volatility in the market specially when, when you are believing in Bitcoin. If suddenly the price will go down so always keep in mind that it is the Bitcoin and will make a comeback. So just buy and hold for a long time and with time to time add your investment in it.

One of the first things I learnt as a newbie to Bitcoin is that it is volatile. Coming from the background of forex trading, it is normal to avoid anything that volatile and with a high pip count. It was then normal to avoid Bitcoin or trade it with caution. It was when I started considering Bitcoin for long term investment the fear of the volatility left. The DCA method have actually helped me because using it, I don't pay much attention to what the price does after I purchase my Bitcoin and I don't also check my portfolio every now and then.

Making money from trading Bitcoin like the forex market is not an easy thing. Some people even complicate it via futures trading which easily destroy the account balance over minor spike. Bitcoin is not an asset to mess with because within few hours it can make you rich and within same period you can go broke. One funny experience I had with trading Bitcoin was that it usually hit the stop loss before actually going your direction. Just one spike, you are out only to watch the market go your way.

I still maintain that the best approach is long term. The advantages are just too many besides the risk of losing the entire fund is completely eliminated. Even when price drop so hard, one Bitcoin is still one Bitcoin and it is a matter of time before the price bounces back.