What To Do When Bitcoin Drops 25%? Sell or HODl

by birtanpublished on October 5, 2020

What's going on everybody Alex back was another cryptocurrency video but today we're going to be talking about how to control yourself how to emotionally control yourself on these market Corrections bitcoins back down to $8,000 I never thought I would see Bitcoin at $8,000 and be honest with you guys I thought it was going to the moon right it's been playing around with 10,000 for a couple of months now and all these new you know elements to the cryptocurrency industry has been coming out including you know the future is etf's all this impendence titute on money as well as the macroeconomics

That's been playing out in cryptocurrency for example the increased rates or I'm sorry the dictate the decreasing and rates right the recession that's coming around right people going crazy getting scared that traditional systems in a the Ponzi scheme is going to fall right all these murky conditions are pointing towards commodities like gold silver and Bitcoin which happened to be the best appreciating asset of this year is going to explode right all these conditions are pointing towards cryptocurrency to do extremely well but we just recently had a 25% correction

So how do you deal with this now I can speak on this for a fact Noah fans are but why because at one point 95% of all the money I owned and believe it or not it was the most money I have ever had in my life wasn't cryptocurrency for approximately two and a half years right so I dealt with it my whole financial well-being now a little stupid of me guys don't ever do that unless you know what you're doing it was stupid of me to do that and I lost bigger because of it but you know sometimes maybe you had 30% maybe you have a large lump sum of cash

That you've never invested in anything before and you know it's messing with you all right I dealt with it for years guys I you know I dealt with waking up at 4 o'clock in the morning to check the market to see if I lost 5% of my money or see if I made money right every single day not being able to sleep trying to you know arbitrage the market by buying Bitcoin low on this exchange and trying to sell for higher on another exchange all these little things right losing sleep over it because of how much money I had in the market and maybe you feel that way maybe you bought some

Bitcoin at $10,000 it dropped to 8,000 and you lost money and you feel oh I'm just gonna sell it and get out of it but let let me let me let me show you guys from another perspective how to think about these situations right now all of you if you've been following my videos you know what dollar cost average is if you don't do your research understand what dollar cost averaging is because this is gonna allow you to kind of double down on your efforts right so if you feel down if you feel like the markets manipulating you I'm Olivia manipulating you

In your emotions there's probably too much Revere money too much of a percentage of your whole entire you know life savings for example in cryptocurrency there's just way too much because if you're feeling the effects of it if you're watching it every day there's a problem there unless you're a trader right you should not be looking at the cryptocurrency market every single day unless you're a trader or you're me and you make youtube videos and you kind of guide people along right you should just be looking at the fundamentals the fundamentals of

Cryptocurrency are the most important what is a fundamental well one fundamental for example is and this happened like two years ago a major country banning Bitcoin right China banned Bitcoin they literally said nobody can buy or sell it in their country right that is a fundamental change you should be scared when that happens and trust me you don't need to look at the news to know it happened right somebody's gonna tell you it's gonna pop up somewhere or your money's just gonna you know you're gonna lose a lot of money right you're gonna know so

Another fundamental now this has never happened in the history of cryptocurrency but let's say for example Bitcoin gets hacked not an exchange like mal Cox if you do not know where mount gox's it's like one of the first cryptocurrency one of the first big crypto currency exchanges somebody hacked mound locks I'm not going to point any fingers because there's a guy that's like that's blamed for it right now he had to go to court and everything but he hacked the exchange he didn't have Bitcoin okay now a fundamental change would be if Bitcoin got hacked

Bitcoin itself now if that happened I'm gonna tell you right now I will sell everything why because one of the biggest reasons I like Bitcoin is because it's fun there's no way to change that fact it will take it will literally cost somebody more computers it will cost them more then the accumulated value of a whole entire Bitcoin market to hack Bitcoin so in theory there is no way to hack that point it has it happened ever blockchain technology makes it so that's why blockchain technology is so useful because you can really depend on it

Rather than a third party source for example to hold whatever are safer to make your information are in bitcoins case your money your monetary value you can hold it safely without nobody taking in let's say torture you and take your private keys or unless you get mountain bucks and your cryptocurrency is on an exchange now I've taught I've told you guys in previous videos do not leave your cryptocurrency on an exchange put it on a private wall and I'm sure you've heard me saying that a thousand times get your own private keys if you do not own your own private keys you do not own

Your own cryptocurrency but that is a fundamental change right so if a country banned Bitcoin it won't kill Bitcoin but it's pretty fundamental all right it's pretty like damn the United States just BAM Bitcoin that's a pretty catastrophic right a lot of people the United States like Bitcoin and if you ban it they're gonna think negatively about it that's pretty fundamental right what I'm trying to think of another example of a fundamental change you know Bitcoin being hacked right or maybe I don't know Satoshi Nakamoto comes out to be you know Hitler or some

you know like if you guys don't know what Satoshi Nakamoto is he's basically the creator of Bitcoin and nobody knows who he is right there's a lot of people claim to be mint Satoshi Nakamoto just for whatever reason publicity reasons but you know unless he could show his signature or the private key and when she started a Bitcoin you can't really prove so if some guy comes out with the satoshi nakamoto proof and it happens to be a negative figure or whatever right that can be fundamental it's hard to think of fundamental changes because

Fundamentally cryptocurrency it's cryptographic guys it's cryptographic it's a new form of technology people have really haven't really experimented with now and from what everybody has seen including you know the people that know about programming and the technical people right you can't hack it you can't change it quick the cryptographic algorithms are valuable in that way right so not a lot of fundamental changes now there there is one theory that artificial intelligence not artificial turfs sorry quantum quantum computers if you don't know what a

Quantum computer is it's basically a computer that doesn't use ones and O's computers are based on binary systems meaning ones and O's are off and on or light and dark right a lot of binary in this world computers are based on the same thing but now we're getting into the quantum world which is like the very microscopic world we're finding that things are not really binary right there's like for example it's hard to explain it I'm not gonna dive into it cuz I'm not no you know astrophysicists or something but quantum physics basically says that if there's

An atom here chances are the atom is also somewhere else so it's at the third dimension right when you go really really microscopic there's a lot of like tests that prove that so people think that if a computer can run not not only binary systems but quantum a quantum computer can run you know three dimensions or even unlimited dimensions right if that's what the world is it can be exponentially fast and you won't need a super powerful computer that costs more than the accumulated value of Bitcoin – hacking you could just use a quantum computer to

Hack Bitcoin now there's a lot of coins out there that are quantum resistant and that's why not my whole I mean the majority of my money is in Bitcoin but a lot of you know I have other investments and I would predict that in this situation a lot of the investment are going to go into quantum resistant coins right one of them is a OS now I don't know if 200% proven because we don't have a quantum computer we have people that do little quantum computations not a full computer that's really like going hard but you know I that's where my money's gonna going guys I'm investing

In cryptocurrency for the long haul what are having cryptocurrency I'm willing to lose 110 percent and that's how you should think about it right so when you're thinking about these emotions right because that's the basis of this video understand that all this stuff is like he should she said right there's this one book that I read that kind of put me onto this it's called trust me I'm lying right it's called trust me online I think that's the title right and it's basically this guy that's a marketer right he's a marketer he markets he's been working for

Multi-million dollar companies forever he talks about the current the current stage of internet marketing and you guys can understand that a lot of it is it is BS it's people just trying to capture your attention so if you're invoking yourself and these articles every day if you're hoping yourself and these little 20% losses that stupid money is playing with then you're going to be get you're going to get caught in these emotions going to mess you up so don't try to think short-term unless you're a trader think long term make your decision and stick

To it be a man of your word if you put the money in for the right reasons a 20% loss should only make you want to double down right I just bought some more Bitcoin and went down okay buying opportunity right don't go back on your word right because that's only going to make you weaker in a long run right because with Bitcoin it's if you wind down 20% but then goes up you know parabolic glitch it always does and it goes up to 30 40k and you could have for extra money you're going to be more mad that you just lost 20% right that's stupid money that's why 99% of traders

Lose is because they quit they're not thinking long-term enough now Warren Buffett doesn't like crypto I'm not gonna say he does but he thinks long-term long-term plays are the most realistic don't trade just think of these big swings right that's the best way to look at cryptocurrency the most oil towel market in the entire work world right and you're trying to you know and you're trying to beat everybody else when maybe you had two years of experience and I'm just you know making that up maybe you have more experience but I'm saying

Unless you're an expert trader it's not playing games you're only playing yourself but that's it for this video guys thanks for watching if you like the quality's content hit like if you don't leave some constructive criticism leave a comment guys leave a comment so I can you know improve on my mistakes and like I always say if you don't deal with it my voice cracked if you don't get with it you really are fine catch you guys in the next video thanks for watching

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