Don't buy bitcoin only because of FOMO

[LUCKMCFLY]

So far, method like this can give us the opportunity to still have the opportunity to buy Bitcoin at whatever price is on the exchange. DCA is very suitable for buying coins that have a very limited supply such as Bitcoin. If we apply it to buy other coins, this strategy is not necessarily suitable for other coins. The current situation is that the price of Bitcoin is also rising, which is a moment to sell some of the Bitcoin that we bought when the price collapsed a few days ago.

I agree, when the price of bitcoin rises we can take advantage to sell some of our bitcoin, but we have to do it according to the plan we have targeted. because everyone has their own target, my target is to start selling bitcoin when the price of bitcoin starts to touch $80K, not now.

When the market rises we should stop buying BTC but we should set a strategy at what price we will sell it later, for example, your target is 80k$ and will sell some of the BTC you have. because by selling at a price of 80k$ you will definitely have made a profit, because as you said everyone has their own target, and behind that target you will definitely have a profit that is said to be decent and not be greedy in taking profits

Well it has always been said that in these things one as a trader, as an investor must have their plan ready to be executed, and I could say that it is good to think about these things, not only about holding and that the price will go up and all that, we have to know what to do and when to sell, because it is logical that the price will have a great ATH and then it will have a good correction and that the most logical thing is to buy in the great correction that there is, but first having sold and if we do it well then we can get a lot of bitcoin and that is what is worth it, of course for this you have to have a vision however it is a matter of doing it and testing how it goes, so yes, it is good to have those types of plans.

[bayu7adi]

Well it has always been said that in these things one as a trader, as an investor must have their plan ready to be executed, and I could say that it is good to think about these things, not only about holding and that the price will go up and all that, we have to know what to do and when to sell, because it is logical that the price will have a great ATH and then it will have a good correction and that the most logical thing is to buy in the great correction that there is, but first having sold and if we do it well then we can get a lot of bitcoin and that is what is worth it, of course for this you have to have a vision however it is a matter of doing it and testing how it goes, so yes, it is good to have those types of plans.

Maybe not just a correction, but after the ATH there will be a very long bearish... this has been common in previous halving periods, where so many of us predicted the target too high, it's actually not good enough if we don't come out with a good strategy anyway. .. the worst possibility is when the ATH does not touch our price target, and then the bear market comes early, I am sure there will be many people who lose money when exchanging it in FIAT.

Therefore, you also need to know that selling BTC, I think it would be better if it was done gradually too. We can sell it 5x with 20% of the asset each at different prices. At least this is better than having to go all in on a selling target that risks not reaching that point.

[Uruhara]

Maybe not just a correction, but after the ATH there will be a very long bearish... this has been common in previous halving periods, where so many of us predicted the target too high, it's actually not good enough if we don't come out with a good strategy anyway. .. the worst possibility is when the ATH does not touch our price target, and then the bear market comes early, I am sure there will be many people who lose money when exchanging it in FIAT.

Therefore, you also need to know that selling BTC, I think it would be better if it was done gradually too. We can sell it 5x with 20% of the asset each at different prices. At least this is better than having to go all in on a selling target that risks not reaching that point.

If we collect Bitcoin with a medium-term investment target of 5 years or less. So it would be better if we bought in stages and sold in stages. Because it can minimize the risk of losing profits. But for long-term bitcoin holders, namely those who intend to hold bitcoin for more than 10 years, when a correction occurs, they may only need to buy back in stages with the DCA they usually do. So basically everything depends on each holder's initial goals.

[Captain Corporate]

Considering we are after halving, the FOMO could be a very good reason. I am not saying that is the only reason but I can understand why people would buy just because of that as well. It looks like we are talking about something that could make people buy. Considering we are a market that requires people to constantly buy in order to go up, I do not care what is the reason why people buy, I am happy as long as they buy, and this could be another reason. There are many good or bad reasons, this one isn't one of the bad ones and that is why I believe that we should be quite happy with what we have right now.

[doc]

Maybe not just a correction, but after the ATH there will be a very long bearish... this has been common in previous halving periods, where so many of us predicted the target too high, it's actually not good enough if we don't come out with a good strategy anyway. .. the worst possibility is when the ATH does not touch our price target, and then the bear market comes early, I am sure there will be many people who lose money when exchanging it in FIAT.

Therefore, you also need to know that selling BTC, I think it would be better if it was done gradually too. We can sell it 5x with 20% of the asset each at different prices. At least this is better than having to go all in on a selling target that risks not reaching that point.

If we collect Bitcoin with a medium-term investment target of 5 years or less. So it would be better if we bought in stages and sold in stages. Because it can minimize the risk of losing profits. But for long-term bitcoin holders, namely those who intend to hold bitcoin for more than 10 years, when a correction occurs, they may only need to buy back in stages with the DCA they usually do. So basically everything depends on each holder's initial goals.

Yes, it depends on your initial goal of holding bitcoin. If you want short term you must always monitor the market, but if you have decided to hold it long term maybe 10 years, it is better not to look at the market rather than disturb your emotions. because the market will go up and down and that's not very good if it makes us panic. We should always adjust to the initial plan when making purchases and determining sales targets.

[pieppiep]

Maybe not just a correction, but after the ATH there will be a very long bearish... this has been common in previous halving periods, where so many of us predicted the target too high, it's actually not good enough if we don't come out with a good strategy anyway. .. the worst possibility is when the ATH does not touch our price target, and then the bear market comes early, I am sure there will be many people who lose money when exchanging it in FIAT.

Therefore, you also need to know that selling BTC, I think it would be better if it was done gradually too. We can sell it 5x with 20% of the asset each at different prices. At least this is better than having to go all in on a selling target that risks not reaching that point.

If we collect Bitcoin with a medium-term investment target of 5 years or less. So it would be better if we bought in stages and sold in stages. Because it can minimize the risk of losing profits. But for long-term bitcoin holders, namely those who intend to hold bitcoin for more than 10 years, when a correction occurs, they may only need to buy back in stages with the DCA they usually do. So basically everything depends on each holder's initial goals.

Yes, it depends on your initial goal of holding bitcoin. If you want short term you must always monitor the market, but if you have decided to hold it long term maybe 10 years, it is better not to look at the market rather than disturb your emotions. because the market will go up and down and that's not very good if it makes us panic. We should always adjust to the initial plan when making purchases and determining sales targets.

The important thing is that before we buy Bitcoin, we should determine what we will do with the Bitcoin we buy. Everyone has different activities, so as long as we have lots of free time, we can do daily trading using Bitcoin. But if we don't have much time, we can use the long-term trading method which in my opinion still provides a lot of profit for those who can hold it patiently.

[Uruhara]

If we collect Bitcoin with a medium-term investment target of 5 years or less. So it would be better if we bought in stages and sold in stages. Because it can minimize the risk of losing profits. But for long-term bitcoin holders, namely those who intend to hold bitcoin for more than 10 years, when a correction occurs, they may only need to buy back in stages with the DCA they usually do. So basically everything depends on each holder's initial goals.

Yes, it depends on your initial goal of holding bitcoin. If you want short term you must always monitor the market, but if you have decided to hold it long term maybe 10 years, it is better not to look at the market rather than disturb your emotions. because the market will go up and down and that's not very good if it makes us panic. We should always adjust to the initial plan when making purchases and determining sales targets.

That's right and this is the importance of a thorough plan that is made from the start. And we just have to follow the plan with discipline. And yes, I agree that if we are investing for the long term then it would be better if we didn't often monitor the market which could affect our emotions. In fact, many beginners change their plans because they panic due to paying too much attention to the market. In this case, a strong investment mentality is needed and we must stick to the plans that have been made.

[JISAN]

If we collect Bitcoin with a medium-term investment target of 5 years or less. So it would be better if we bought in stages and sold in stages. Because it can minimize the risk of losing profits. But for long-term bitcoin holders, namely those who intend to hold bitcoin for more than 10 years, when a correction occurs, they may only need to buy back in stages with the DCA they usually do. So basically everything depends on each holder's initial goals.

Yes, it depends on your initial goal of holding bitcoin. If you want short term you must always monitor the market, but if you have decided to hold it long term maybe 10 years, it is better not to look at the market rather than disturb your emotions. because the market will go up and down and that's not very good if it makes us panic. We should always adjust to the initial plan when making purchases and determining sales targets.

That's right and this is the importance of a thorough plan that is made from the start. And we just have to follow the plan with discipline. And yes, I agree that if we are investing for the long term then it would be better if we didn't often monitor the market which could affect our emotions. In fact, many beginners change their plans because they panic due to paying too much attention to the market. In this case, a strong investment mentality is needed and we must stick to the plans that have been made.

The reason why beginners change their plans is because they don't know much about Bitcoin and they have very little faith in Bitcoin due to which they cannot control themselves when they see the price of Bitcoin falling.  panicked and sold their coins to prevent losses  They don't think that the price of Bitcoin will recover again so it is not right for them to sell at a loss at that time.  That is why it is more common for beginners to panic.  And those who panic will surely suffer.  This requires learning to control yourself before deciding to invest in Bitcoin.

[LUCKMCFLY]

Maybe not just a correction, but after the ATH there will be a very long bearish... this has been common in previous halving periods, where so many of us predicted the target too high, it's actually not good enough if we don't come out with a good strategy anyway. .. the worst possibility is when the ATH does not touch our price target, and then the bear market comes early, I am sure there will be many people who lose money when exchanging it in FIAT.

Therefore, you also need to know that selling BTC, I think it would be better if it was done gradually too. We can sell it 5x with 20% of the asset each at different prices. At least this is better than having to go all in on a selling target that risks not reaching that point.

If we collect Bitcoin with a medium-term investment target of 5 years or less. So it would be better if we bought in stages and sold in stages. Because it can minimize the risk of losing profits. But for long-term bitcoin holders, namely those who intend to hold bitcoin for more than 10 years, when a correction occurs, they may only need to buy back in stages with the DCA they usually do. So basically everything depends on each holder's initial goals.

Personally, sometimes I find it a little difficult to make those 20% sales because when I try to do so the price goes up and it doesn't go up a little, but it goes up a lot, so it's like I enter the market at the wrong time when I try to do that, of course now I'm studying another way to speculate in the market but in the very short term, similar to futures where I get results right away, whether positive or negative, but I get them, this is something that I will always give the go-ahead to as long as I know very well what I'm doing, for me it will always be a priority to take care of the money, more so if it is in bitcoin because sometimes buying those satoshis is expensive, but applying DCA I think one is doing well.

[Roseline492]

If you want short term you must always monitor the market, but if you have decided to hold it long term maybe 10 years, it is better not to look at the market rather than disturb your emotions. because the market will go up and down and that's not very good if it makes us panic. We should always adjust to the initial plan when making purchases and determining sales targets.

Considering the stress on short term investment diversifying it into long term holding is actually the best because short term holders use to go through a lot of emotional trauma especially when they are expecting the market to rise and it keeps dropping, however I don't think there are much different between short term holders and traders because they are into quick profit making so they normally go through the stress of always watching the market to see if there would be any possible decline in price for them to buy.

However I consider holding to be the best investment method because it allows you to have rest of mind and free from any panic of price going against your entering points and also the good thing about holding is that is not just about stress free but because considering the potential of Bitcoin the only way to be highly profitable is by holding for a long term, so for me I would always prefer holding because I believe so much on the future of Bitcoin.

[Captain Corporate]

I would say buy it, for whatever reason you have. I am not saying that it is impossible to miss, because there are many things that you should be careful about when investing, and you could be wrong, like you could buy at the peak and fail to sell at the right time and either make a loss or wait way too long to make a profit. However, if you look at it right now, it is incredibly low right now, I would suggest everyone to purchase some, so that you could make some profit when the price goes up. Of course this is my opinion, and it may go down even more, how would I know, I am just making a guess that's it.