Quote from: Ale88 on January 13, 2024, 05:32:59 PM

Quote from: Alpha Marine on January 12, 2024, 06:24:56 PM

Bitcoin price history is necessary for all Bitcoiners, but to be a successful holder you have to understand the price history of Bitcoin.
This will help you understand the volatility of Bitcoin.
When you know the price history of Bitcoin you will understand that there is nothing new about the fall and rise of price. Also, the history will let you know that the price always goes back up after a fall and that should help you in your effort to hold Bitcoin.

What you are saying is correct, and I completely agree with you, but you are forgetting a very important thing: the psychological aspect. You can do your researches, studies, and then you may think you are ready but then comes the dump: -20%, -40%, -60%... And not everybody is able to handle it, many people can't take it anymore and they sell at loss. Bitcoin, at the moment, is not for everybody.

Nothing is perfect, not Bitcoin and its investment, and who knows what could happen this time even as people expect positivity? This is why investors must not be 100% trusting and believing that the history of an asset is the perfect future indication of what will happen, and it is no news that experts in the field of investment always warn people against such thought, it is not good, as it has disappointed so many in the fast. Fine, Bitcoin is an asset that behaved like no other asset before, but still, Bitcoin is very young, we do not know what it will keep doing over time. Before it came to the limelight of what it is now, there was a pattern truly, but what if it deviated from the pattern and people's expectations or should I say the original ideology?

What people are expecting now is what I always call Bitcoin tradition, but what if as it grows in age, especially this time that it has been inculcated into the mainstream of the financial market and institutions are taking over a large part of it, it now changes from the old ways? I have been careful about this though and I will continue to be watchful and let my trading chart guide me regardless of what people are saying about it. And like you said, many are forgetting the psychology of the market which is a grave mistake for them, and if this psychology changes just like what happened recently with the ETF saga, it can't be good for the market. Thereby, what we see as FOMO now will be in the reverse when people are making panic withdrawals of their money.

The market could be so funny at times, so you don't trust it 100%.