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This is a good point adultcrypto since we don't need to have faith from the start and we could even be somewhat bearish, and in some sense, if we try to figure out our position size in accordance with our level of doubt or our level of bullishness, we can adjust our position size to become greater in the future if we become more bullish in the future.
This is very correct. Human mind works in away that whatever you set your focus on, you unendingly expect it to happen at that extent or more but nothing less. The level of faith/expectation placed in bitcoin is the driving force to how dedicated and disciplined and investor would be while engaging in his bitcoin investment. Being bearish would allow you lower your expectations and when it turns bullish, the joy would be stronger. But being too bullish in your expectations may expose you to investing beyond your capacity which would also make you unable to hold for long.
In Bitcoin investment, a successful investor should maintain a balance between the two perspectives of bullish and bearish. By bullish, we mean being optimistic that the market will increase, and by bearish, we mean being cautious that the market will decrease. In investment, being completely bullish and completely bearish is not good.
In reality, when you are very optimistic about the growth of the market, that is, bullish, you will also keep in mind the loss or decline, that is, bearish thinking. When you can think of these two in balance, this balance will make you a patient, rational and sustainable investor.
Generally, when we expect the price to increase and we are interested in staying in the market, the price will increase. But what if we think that the price will only increase and start pouring all the money in, then what will happen when the price falls?
In investment, it is good to be bullish, but it is not good to be excessive.
Now, in the case of bearish, we all be careful when we see the market falling. But even if it is excessively bearish, there will be problems and excessive fear will work inside. If you are afraid that the price will fall, you will not invest.
Almost all of us who have a long-term perspective in investing are always a little bullish because history says that Bitcoin increases in price over time.
Look, during COVID, many panicked and sold, but those who remained bullish later made a profit, i.e. in March 2020, it was $7,935.52 and in December the price increased to $28,837.29.
On the other hand, history shows that when the price rises very quickly, then there is often a big decline. In this case, a bearish mindset prevents you from taking unnecessary risks.
It is best to have a mixed view or a balanced view and be neutral in investing, not being overly bullish or overly bearish.