Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?
Why panicking when the goal is for long term, those who panic more are those who are short term traders for few dollar profits, approaching investment with emotions attached to it can become problematic by making a hesitant decision, building your psychology in terms of getting certain level preparedness of expecting the downward and upward market condition will help you understand that it is just the nature of the market such that instead of panicking you have to take advantage and buy more Bitcoin at a lower price and hold. No panicking for me.
Sticking to the initial goal is certainly very important because whatever we have planned at the beginning has certainly analyzed well the things we are doing and when we see market conditions are in decline, of course it will not be affected for those who have planned their investments well and for some people who decide to invest hesitantly of course they will panic when they see the decline and they could sell their assets even though they are in a state of loss and it is very important to prepare yourself before deciding to invest in order to be more prepared in running investments and can generate profits in investing and if you want to take advantage of the decline, of course you must be able to prepare sufficient funds to be able to maintain these assets in the long term to be able to get greater profits.