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Quote from: _act_ on March 06, 2024, 09:06:03 AM

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

Yes, you are right, there are many people who do not want to buy when the price is low and later regret it when its price increases. If someone buys Bitcoin when the price is low, then it will reach a high level later and good returns will be obtained from this. I like to invest in long-term investments because if you hold it for a long time, it gives more profit than I expected. There are many who panic when the price drops and sell it. I would tell them to hold on patiently because the Bitcoin market fluctuates a lot, so I would say that after the price drops, it will later exceed the previous position and create a new position and reach a high level. I think Bitcoin is the safest currency to buy, so I always invest in Bitcoin.

I think this happens more often to people who isn’t aware or who doesn’t have knowledge of Bitcoin investment, because anyone who has started investing in bitcoin already, will definitely buy more bitcoin when price drops depending on financial capacity and level of risk tolerance. Most persons see it as an opportunity to buy aggressively, thereby increasing their portfolio. Which ever way you buy Bitcoin is okay, in as much as you’re investing and plan on hodl for long term. But it’s alway advisable to invest with your discretionary funds, funds that are left over after all your essential expenses since Bitcoin is a volatile asset, and using DCA strategy which will help you buy Bitcoin either when low or high.

Human minds work differently and it is the strength of every human in all walks of life. Every form of investment is a product of the mind and whatever the mind feels influences the entire venture. Some people capitalise on dips to buy aggressively while others develop phobia during dips. These set of people are not good investors, they are more prone to panic sales and can not buy aggressively during dips. But when price starts rising again, the start regretting why they didn't buy the Dip.

Even though bitcoin investment is not limited to dips, infact, dips are not the major target in bitcoin investment. Continuous buys by DCA using discretionary income could help any investor solve this problem of panicking during dips. When you invest by DCA, you may not have focus on the price chart not be aware of price hikes.

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Quote from: Regardme on Today at 11:13:41 AM

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Quote from: _act_ on March 06, 2024, 09:06:03 AM

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

Yes, you are right, there are many people who do not want to buy when the price is low and later regret it when its price increases. If someone buys Bitcoin when the price is low, then it will reach a high level later and good returns will be obtained from this. I like to invest in long-term investments because if you hold it for a long time, it gives more profit than I expected. There are many who panic when the price drops and sell it. I would tell them to hold on patiently because the Bitcoin market fluctuates a lot, so I would say that after the price drops, it will later exceed the previous position and create a new position and reach a high level. I think Bitcoin is the safest currency to buy, so I always invest in Bitcoin.

I think this happens more often to people who isn’t aware or who doesn’t have knowledge of Bitcoin investment, because anyone who has started investing in bitcoin already, will definitely buy more bitcoin when price drops depending on financial capacity and level of risk tolerance. Most persons see it as an opportunity to buy aggressively, thereby increasing their portfolio. Which ever way you buy Bitcoin is okay, in as much as you’re investing and plan on hodl for long term. But it’s alway advisable to invest with your discretionary funds, funds that are left over after all your essential expenses since Bitcoin is a volatile asset, and using DCA strategy which will help you buy Bitcoin either when low or high.

It is not really about been aware or having Bitcoin knowledge but rather it is about the mindset or mentality some have towards this investment ( Bitcoin), if someone invested in Bitcoin with a fearful mind that they might lose there money then there is every possibility that any slight change in the market will affect them and they will take some unnecessary decision because of what they already have in their mind. So it is better and good to have a good mindset towards Bitcoin because there is high possibility of getting a good return in the long term if been carried out properly.

Does a no coiner need “mindset” to start investing in bitcoin? From his statement, he’s trying to talk about someone who wants to start investing in bitcoin, not buying when price is low and later regretting why he didn’t buy at dip. For sure, you know that anyone who’s already investing in bitcoin, would always want to take advantage of dip when it comes or even buy aggressively except there’s a financial crisis.

The mind generates the strength to start bitcoin investment after getting to hear about it. You have the options of fighting against your fears and resistance and all these happens in the mind. If your mind does not seem to carry every possible negative outcome which would be presenting itself during the thinking period, you may never get to invest in bitcoin any day.

A no coiner understands his fears and tackles it first before introducing his resources. This is why it is more difficult to start at the initial time especially fornewbies because they are scared to risk their little or lump-sum.

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Quote from: _act_ on March 06, 2024, 09:06:03 AM

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

Yes, you are right, there are many people who do not want to buy when the price is low and later regret it when its price increases. If someone buys Bitcoin when the price is low, then it will reach a high level later and good returns will be obtained from this. I like to invest in long-term investments because if you hold it for a long time, it gives more profit than I expected. There are many who panic when the price drops and sell it. I would tell them to hold on patiently because the Bitcoin market fluctuates a lot, so I would say that after the price drops, it will later exceed the previous position and create a new position and reach a high level. I think Bitcoin is the safest currency to buy, so I always invest in Bitcoin.

There is no specific time to invest in Bitcoin because the price of Bitcoin always goes up and down, in which case we can never determine the price of Bitcoin, so if you are interested in investing, you should not lag behind by saying that the price of Bitcoin has increased, in which case you are expecting dumping. This is a bad habit. When you wait for the price of Bitcoin to be dumped, its price may increase further and you may lag behind. Then you will think again why you did not invest at that price then you will regret it. Bitcoin is cheaper now than in the future because Bitcoin has a limited supply and demand. Then the price of Bitcoin will continue to increase more than we feared. If you have a specific source of income from which you can earn, you can invest with the money earned there, keeping your own necessary expenses and leaving the remaining money, so you use the DCA strategy. You can invest regularly or monthly, because only your large amount of money will bring you big profits. Such thoughts will lead you to greed, then you will lose the price of Bitcoin. You will panic when you see the fluctuations and if the price of Bitcoin is higher than you bought it, you will think that maybe this is the best time for you so you will want to sell. To avoid such wrong decisions, you should invest using the DCA strategy. This will prevent you from making wrong decisions and not panic

I believe to mitigate the effect of panic when investing, we should be sure to invest with our discretionary income first of all, we all can figure out if we have discretionary income after attending to our expenses. When you invest into bitcoin with finances you would be needing soon, it increases your anxiety about the performance of bitcoin. Having identified that you have access to discretionary income, you can progress to being as aggressive as you can without overdoing it in your regular buys and building out variances of backup funds to safeguard your investment from being tampered at a time you did not choose. You have a higher chance at being resistant to anxiety when you create a balance between your cashflow and your investment into bitcoin and the more you can manage your cashflow better, the higher your chances of achieving success in your accumulation journey. DCA is there to smoothen the effect of volatility of bitcoin price on your investment.

You're very correct. The first basi step to an anxiety free bitcoin investment is proper cashflow management. Every bitcoin investor both beginners and experienced bitcoin investor needs a proper cashflow management since it's the basis of a successful bitcoin holding. If a person can be disciplined to not tamper with his emergency funds and/or backup funds, he can go a very long way in maintaining a good bitcoin portfolio without anxiety. Sometimes playing smart with the emergency funds and/or backup funds places your bitcoin at risk because anyone who has a serious emergency situation will not resist selling off his bitcoin stash if that's the only option left. This emphasizes on financial discipline and anxiety management. Reducing your irrelevant expenditures would help you have more funds to take care of your basic responsibilities. Your discretionary income is the only legit funds to be invested no matter how enticing the market would look or appear to be.