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    Author Topic: My advice to Bitcoin newbies: relax  (Read 5020 times)
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    April 05, 2018, 11:08:01 AM
     #541

    Hello everyone, recently there has been a lot of panic on this forum due to the big price change of Bitcoin (as it always happens). Understandably, many people are confused and worried as they have lost thousands in their value, especially if they have bought higher than the current price. But as someone who has been into Bitcoin for 1.5 years (not too long, I know) I want to advice to newcomers to simply relax. Huge price swing were always a part of Bitcoin, so there's nothing extraordinary here and the worst thing you can do is to make panic trades. Basically, there are two main approaches to Bitcoin trading - you either hodl it, meaning you never sell it until it reached "the moon", or you are actively trading it to get profit from volatility. So, if you believe in Bitcoin's technology and don't have experience as a trader, I suggest you to not touch your coins - Bitcoin always tends to increase in its value in the long run.

    It is easy to give lectures on how prices will recover but I feel that pain of people who lost money by investing in bitcoins. Investing at $20000 levels and then seeing prices drop to $7000 results in loss of more than 50%.
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