Post
Topic
Board Bitcoin Discussion
Re: Has the drop in Bitcoin's price made your mood even worse?
by
Alana Arden
on 04/09/2024, 14:56:53 UTC
If you're into exercise and weight lifting, you would notice that when you start weight lifting, your muscles will not yet be strong enough to accommodate the kind of weights that you wish to carry, and so it will take some time for you to become stronger as you keep lifting weights. It is the same with investing in Bitcoin because if you're new to investing in Bitcoin, you definitely will not be strong enough to accommodate the changes in market conditions when the prices of Bitcoin start to drop.  Do not get discouraged; the strength to ignore the market comes from experience and knowledge that the value of bitcoin will still go up even if it drops.
You have explained very well with a great example. There are many like Op who panic and sell at a loss when the price drops. They can't be blamed for that either. In fact, many are not strong in these matters. Again there is a lack of proper knowledge about investing in Bitcoin. Especially the newbies.
Bitcoin is a volatile currency that fluctuates between price and market conditions, so it is wise not to chart during such bad market conditions. So don't be disappointed at all. To get good profit from Bitcoin, you must be patient and hold for a long period of time and you must have proper knowledge and review of market conditions before investing in Bitcoin.