if you are a trader then you need to be aware of the market at all times if you want to continue trading. this means checking the price or having an "eye" on it so to speak. this can be you checking to see what the price is or it can be placing alerts, or using things such as stop loss orders. saying "don't check the price because it is dropping" is just dumb!

if you are not a trader and have just made an investment in a proper dip and not at the peak of the bubble then yeah don't check the price every 2 minutes but still be aware of the general movement.


the same thing applies here too. there is a difference between those who want to keep on trading and increase their profit and those who just bought bitcoin at some point, lets say at $2000 last year and want it as a long term investment that appreciates after 10 years.

It's only natural to monitor regularly or on a daily basis the price of bitcoin, because in a trading line of business when you don't check the price of bitcoin regularly then there is a chance that you might let the price increase slip one can never know when it is going up or down so monitoring is really essential. Or else you might miss an opportunity cost.

I really do not get it on why it is productive to constantly check bitcoin prices as it may be the indicator on whether you should acquire or sell bitcoins to maximize profit and minimize losses. The funny thing is, the ones who complain into NOT investing when the prices were around $18,000-$19,000 are the ones who are saying that today is the end of bitcoin. The irony and their logic somehow bothers me in a way that they do not fully understand on how cryptocurrencies work!


First of all, the rise and fall of bitcoin's price is natural phenomenon since we all know that it is very volatile. Second like what I said earlier, examining the price of bitcoin is NOT unproductive since it makes you updated to all the recent news that may affect your initial investments or future plans. Lastly, exchanging your bitcoins to tangible assets may be a good idea but it primarily depends on an individual towards his/her goal.

What associate prof has said is what is happening! Bitcoin become popular because of the ways traders are given testimony that they are making it big from investing in it. Many people buy bitcoin this day not because they believe in blockchain technology that it is going to change the way we used money but because of what they will get from it rise of it pricing. Bitcoin has not been failing to rise anytime it get dropped and many people believe that when ever they buy bitcoin low they are going to sell it high and that is the major motivation for buying bitcoin.

Largely agree here. I am strongly of believe that if Bitcoin is ever going to be surpassed or deemed redundant, it will be because of a completely new bit of technology, and it won't be related to crypto at all. We have seen how many altcoins there are in this market, where some of them do actually solve a problem that Bitcoin doesn't, but it by a huge distance still isn't enough to even tickle Bitcoin. People can focus on shitty metrics as market caps as much as they want, but nothing comes even close to how robust and secure Bitcoin's network is, and how much money there is flowing into its ecosystem. People aren't interested in gimmick features that altcoins offer, they just want to move value from one place to another without central party involvement, and that at ultra low cost. With LN knocking on the door, they will get exactly that.

Im feeling myself shit for not having sold at the top. It was a opportunity to have more bitcoins now. And I missed it.

Now Im trying to predict a top, but theres all this talk about banks going to buy bitcoin for its reserves, after that US senate meeting. So you sell and get burned as it can go higher. I still believe we will reach 25k by march.

This is a good strategy and hodling your coins is usually a much better strategy than trying to beat the market, unless you are an experienced trader.

The reason why continuing to examine the bitcoin's value is so unproductive because often you're tempted to sell when the market is performing at its worst and clearly a recovery will happen soon.

And same applies in a market that is extremely bullish, people seem to be tempted to buy when price is going up daily, instead of when price is plumetting and clearly buying the dip is the best decision to make.

Hold your coins, check the price every now and then. But make sure that you don't make hot headed decisions like most traders make and they lose a lot of money at the end. Bitcoin is a long term investment for all to make, not a short term one. Don't invest if you're not patient.

No doubt volatility is one of the major reasons why bitcoin and cryptocurrencies got attention, and yes whenever volatility increases people move their attention towards the cryptos due to the hype created in the media and environment. But i disagree with the second part of your first statement, examining the cryptos is not unproductive as this helps you to get in touch with your assets and the market as well.

Indeed, to HODL bitcoins minimizes your risk in cryptos because bitcoin is the most reliable cryptocurrency so far.

I agree on the principle - hold, if your aim with bitcoin is for long term investment then thisnis the best option. But if you are a trader then you must check the prices from time to time so as to make bigger profit.