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.
Do you check the price every time it plummets? Are you running around trying to find out what caused the market to decline? Do you feel happy when your net worth drops? If you have those things then you are also showing anxiety, although not to the point of panicking and dumping.
We feel happy and excited every time the price increases. It's normal to be sad and a little scared every time the market is dumped because it's just a human emotional reaction.
Although I have been in the market for a long time and bitcoin being dumped is nothing new to me, and my investment is still generating significant profits even when bitcoin falls below $50k. But to be honest, I'm still a bit worried when I see bitcoin drop 10%-20% in one day, and of course I was only worried for a moment and didn't sell my bitcoin.