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 ?
In my case, I would never panic because if the price of Bitcoin falls, it can recover quickly. Bitcoin price dropped from $70k to $48k a few days ago but the market is starting to recover. We must remember that investing in Bitcoin is a long-term investment. So before investing in Bitcoin you should have a plan to hold your investment for long term. Now if you can hold the investment for long term then you can definitely profit. Long-term investors never panic when Bitcoin price falls but instead try to increase their investment amount when Bitcoin price falls. So you don't panic when the price of bitcoin goes down, you have to believe that the price of bitcoin will go up a lot in the future.