Quote from: Justbillywitt on August 07, 2024, 06:14:29 PM

Quote from: Dailyscript on August 06, 2024, 07:10:53 PM

Quote from: Barikui1 on August 06, 2024, 07:27:02 AM

On my own perspective, wether newbies investors or not, it all boils down to the person in question, how much confidence and trust do they have in Bitcoin, because I have seen it on several occasions where veterans investors sell at a loss in panic, due to some dip in the market that was really hard for them to comprehend, ok let's look at this present dip in the market, do you think it's all knowledgeable and veterans investors that still keeps to their holdings? No.

Most investors including newbies investors or veterans that has all the required knowledge still panic, anytime their is a very strong dip in the market, and sincerely speaking, in my own opinion, it's because of we most times focus too much on the speculations on Bitcoin and what people with negative mindset about Bitcoin have to say, so in essence of what am trying to say is that, if you truly believe in Bitcoin, and knows what you are doing and it potential in the future, you wouldn't even pay attention to anything negative people have to say about Bitcoin, and such negativity is what makes people to panic and start selling in a loss.

So the best way to go about it is that, as long as you are a long term holder, is to continue your accumulation through the DCA accumulating strategy and ignore all what negative people have to say about Bitcoin, regardless of whether their is a dip or not.

People will panic because they lack knowledge. I dont think anyone following this thread for months would ever panic to sell their Bitcoin. Remember when investing in Bitcoin we understand that the price does not stay in a fixed position in real time it could be higher or lower than the current price. People who DCA would sit at their house without any emotional instability because they will not panic as long as they are holding it for years. The essence of having Bitcoin knowledge is important in times like this when the price starts going down. So that we won't make such a mistake or tamper with our investment, one time tampering with our investment could destroy everything we have built so far. This is the time to sit tight and take your mind off what is happening now and place it on what will happen soon or in the future.

There is no way there will be a sudden dip like the one that happen few days back that people won't panic, even if it's just for a moment. It is in human nature to react when something happens unexpectedly that doesn't mean that those people lack knowledge or proper understanding of how bitcoin works. People could panic because they don't know what could be causing the sudden dip in the market. But the moment they have gotten information about what's causing the sudden dip, you will see them regain their confidence, though not all investors. That's where you differentiate between newbies and old investors. What is bad is panic selling under such circumstances. That's where the knowledge comes in, those that are knowledgeable won't sell neither will they think about it. But those who are new to the system and lack knowledge will be the ones to panic sell.

Our mindset should always be prepared for the unexpected to happen due of the volatile nature of bitcoin the unexpected is inevitable. When certain scenario occur we should take it in good faith because its part of the system, but if we are having a long-term investment plan we should envision the bigger picture ahead. No matter how it might DIP there is always a recovery process and growth potentials.

As a newbie faced with with such circumstance research should be done and also think critically because there are previous cycle which has experienced similar market circumstances but their are those who where able to hold onto their coins, they never panicked and sold off their holding rather they took advantage presented by the market to buy and hold and their are also those who panic and sold but regretted for wrong decision due to their Emotions, knowledge can be drawn from certain situations to manage your investment appropriately. Bitcoin investment is not just to buy bitcoin alone but information and knowledge should also be acquired to guide through different circumstances of the market.