Bitcoin Forum

Bitcoin na one of di best investments wey anybody fit to enter but many newbies no know say e de better to hodl am for long term. Unto say Bitcoin de volatile dat na why e de advisable to hodl am for long term because na store of value wey de take long term to reach new ATH price and give better ROI.

But I don notice say many newbies wey I know for Bitcoin matter no get knowledge about how e de work, dem de buy Bitcoin with money wey dem wan use on the short term because dem hear say e de profitable. I believe say na only wen we enter bull run proper wey Bitcoin price go de surge steadily na im investors fit to take chances to invest money for short term profits.

Nobody know exactly wetin Bitcoin price go be in di next 24 hours, weda e go pump or dump, na only speculations and predictions we fit to do. Dat na why newbies need to understand say e no de advisable to invest in Bitcoin on a short timeframe because di price fit to dip wen dem wan use di money. Invest di amount wey you fit to put aside, preferably do DCA method and no plan to sale am on the short term. Na my advice to newbie investors.

Wetin you Yan na true, person wey wan invest for bitcoin no sopos use Moni wey e wan use do something wey dey temporary come put am for bitcoin. Because if na money you wan use for important something and E come drop, you go dey put Bitcoin for your prayer point make E just go back to the price you carry buy am make you recover the amount wey you don lose for the short period of time. I get friend wey wan use him money do business, but base on how E dey hear as people dey Yan too much about bitcoin him come carry him business money go am for bitcoin, for that time bitcoin dey $70k bitcoin fall to $60k naso him business money fall, naso E no dey sleep. every day na to check if bitcoin don manage reach $68k but E no gree. When bitcoin manage reach $70k, out of greediness him dey wait make E climb above $70k to maybe $72k, before him know btc don drop again since that time him never gree to sell the bitcoin because If E sell am now E don lose. So as you talked Naim be the koko. Who no say E no go fit bear to invest for long time no sopos use him business money or any urgent money go gamble for bitcoin for short time. Though the person fit gain sha but the risk dey high too.

Many people dey miss this thing, dat why even if aggressive buying dey good somehow, na who get where to fallback to wen market nor move as he/she plan go enjoy bcos dem fit HODL till bitcoin price raise again while  others way dey buy without no place to fallback to, wen need be go sell for even lost just to survive even if they know say the price go still raise with time.

This na one reason why them always dey talk say nor invest all your money for bitcoin, inside  2021 people speculate say bitcoin go reach $100k 2022 but external factors cor affect the price market cor dip well well, people sell for lost but nor be all sell bcos them nor know the truth but bcos dey invest too much (aggressive buying) and then Market nor cor go as they plan so they go sell for loss just to cover expenses while we know those wey buy even at the ATH 2021 and HODL don even gain m this year while if they continue to buy the dip join watin they get before them go for gain m well well.

the thing is that within an interval of 24 hours, it's less likely that Bitcoin will go as high as 5× or 10× of its present value which would have placed an average newbie in a massive profit for the short term. At the early phase, Bitcoin experienced those kind of bull and although we hope and speculate such kind of things playing out, in the real sense it might not play out that way and what we might likely witness will be a gradual bull that would most likely not happen too sudden.

Once you're investing your money for the short term purpose your expectation wouldn't give you rest of mind and any thing that appears like a bull will seams like a perfect moment to sell while the bears that are supposed to be moments of buying more Bitcoin could tense you up.

this isn't just for newbies and sometimes when we talk about newbies, we paint the picture as though they are the only ones that don't know how to do things the right way. Regardless of how long you've stayed in the forum or the general Bitcoin sphere, if you aren't investing the right way and using the right strategies, you're going to face the same fate that's peculiar to the newbies.

My OP I agree with wetin u yan ohh most newbie dey always think say bitcoin na something wey u fit invest in today and then com back tomorrow com cash out, but I gist there's is more to it ohh, that your friend just be like me years back too, when I been no no anything about bitcoin all my through be say I go just drop money then e go pump then I cash out but far from it, in just this little words I go Express bitcoin investments to the newbies" The patient dog go eat the fattest done one day" this dey try tell you say if you no dey patient you can not invest in bitcoin.

Well sometimes you no go blame these newbies sef because na lack of orientation or if at all you wan blame dem e go be on the aspect say dem no really get the patience to actually research about watin dem dey get involved in and the reason why I say this na because say many of them sef don actually place Bitcoin investment as something wey you fit just cash out now now now (GET-RICH-SCHEME) which na very big lie. If anybody really wan get better profits or promising growth for their Bitcoin investment then the person go gats know say him gat hold am for long term.

If anybody wan really get better thing for their investment in Bitcoin then having the mentality of saving your coins for long term na the way forward because if na because of watin you hear na make you come rush use your money put hoping say you go get profit with short period dem you are likely going to lose because Bitcoin is an investment that worth better and done safely if it is done on a long term basis. Just forget about any quick quick money idea wey you get because the volatility of Bitcoin fit fuck you up especially when you don already put target say na so so time you go actually get the profit.

Op you don try for this your thread and I sincerely appreciate your effort to bring something like this but I wan also let you know say, irrespective of wether investor wan do long term or short term, wetin really master be say, you Dey make profit and you Dey only invest the amount wey you fit afford to lose.
A lot of newbies Dey enter the cryptocurrency industry with the very wrong mindset of ponzi where they expect to make profit as soon as they invest a little amount but the reverse is always the case as they at some point even get liquidated.

As a newbie, the best approach is using DCA so you wouldn’t have to get stressed trying to invest.

OP no really vexs ohh I no no if this thread na the correct places to ask this question which one be DCA what the meaning of it in terms of crypto.

Investing in Bitcoin for short term is a wrong move , in order for you to be more profitable in Bitcoin investment, it has to be for long-term within 5 years to 10 year or even more, with sure mindset,you have to plan your other aspect of life too ,so that it will not affect you during your investment period .

 As a newbie rushing into investment is wrong, and that is why you rush out ,you need to get yourself prepared by having alternative source of income in other for you to be stable while investing.As a newbie,you need to start with DCA Strategy which is the best for newbies, where you buy and accumulate gradually, until you have understood the processes and various strategy that you will decide the one that will be convenient for you.

I always object newbies to first understand and grab quite a good amount of valuable knowledge about Bitcoin. Depends on how people might see it, but personally Bitcoin is an investment and it should be treated as such. We don't invest and in the run get to tamper with what we worked to put together. Before investing there should have been enough readiness to solve every financial need that may arise that is were the emergency/reserved funds comes in. The market could be red aswell be green but rest assured we often get to see investors make good fortunes from their holdings.

@Obari is not the OP. OP means the original poster, the owner of the topic thread.

Bitcoin no be short term investment,even if most newbies wan invest their fund into Bitcoin dem dey get the thought say when dem don invest their fund the price go increase the next week or month,dat one na just deceive dem dey deceive themselves.Every newbies suppose do their own research know say Bitcoin no be get quick rich scheme,and so Bitcoin no be stable currency, Bitcoin dey fluctuate you fit buy Bitcoin when the price dey $67k just to wake only to see sey the price don drop to $63k.E dey important to note say make no newbie go save e moni put for Bitcoin dey think say the moni go dey increase every seconds that one na big lie.Many people don see the reality,I dey hear of cases wey student dey invest their school fees for the short term with the mindset say the coins go profit dem for the short term and when price continue to decline for the short term na expectation=regret dem go see.

E dey good say when u get interest for something try find out how de thing dey work, so u sef go get brain on how e dey take dey work. Before we put our monie inside any investment, make we ask questions get information for our sef first before we go put our monie so that our monie no go loss inside. I don see am say some of all this bad bad talks wey people dey talk about bitcoin na result of people wey no understand how Bitcoin investment dey, dem no get Knowledge dere mind think say if u put ur money u go get profit instantly but ee no dey work like that. Our money dey important to us well well so ee better make we put am for investment wey we understand so ee go balance with our expectations.

If u dey put money for Bitcoin, dey expect say u go get profit or take am back for short time ur calculation dey wrong. Unless u dey trade bitcoin, and trading no dey advisable for newbie. If u wan invest money for Bitcoin make u get understanding say Bitcoin price no dey steady ee dey move up and down that's y dem dey advice to invest for long time with good plan like DCA so that benefit go come.

DCA na term wey we de use for Bitcoin investment and di meaning na Dollar Cost Averaging. Na method wey investors dem de take buy Bitcoin periodically, e fit to be weekly or monthly, as e go take de convenient for you to de comot money on a particular dates or time to de buy Bitcoin. A Bitcoin investor wey wan do DCA method suppose to get atleast one regular source of income to de get money to buy Bitcoin.

One of the advantages of DCA method be say Bitcoin na long term investment, so you no go worry or panic to sale your Bitcoin wen di price de dip. You no go worry about short term price speculations because on di long run price go always increase and reach new ATH (All Time High) and plenty ROI ( Returns On Investment) wey be plenty profit go add to your investment capital.

I agree that bitcoin is one of the best investment platform but disagreeing with you that anybody can cope with it while emphasized on the volatiled potentialities where it drives emotional investors crazy when the market gues Dip.
It's also not abominable for an investor to indguge on short term aside long term. We're Just in this same industry with the same goals but different strategies on how we can meet those goals.
I specifically agree with you that the strategy to venture at the safer side in the crypto markets can be unknown to the newbies which may have them those excitements that once you invests on bitcoin you automatically becomes rich without.
Literally fails to adhere that the bitcoin industry is most favourable on long term holding and accumulating at when is best affordable for various investors.

I think a lot of people are confident in the market and buying more despite when it's obvious there is a double top as stated by some traders but because some people think we have not experience real bull run yet but it will be down on our eyes that this will be the last all time high we will see in this circle or I maybe wrong, people that actually think the bull run is yet over will benefit later if the market rebound but the risk is higher, it's better to wait for it to go down more.

I wouldn't even advice DCA yet, not because it's not a good strategy but because Bitcoin price is way to high from the supports we have, there is major support around $38, it would be a good but if we put some orders around that range and any further decline DCA will be good from that moment whether we later go up or down, it's going to be a win-win but it should never be with the emergency funds.

Then the title of the thread for just be "Long term investment for newbies". I think  you done try by passing out the necessary information. Though I done see similar discussion for other threads, but I think by making this thread, you dey help me and others remember watin we done learn, which I will commend you for that.

And as for this part wey u specify say :

I think e go dey quite complex, since no be every newbie go fit dey consistent on such approach, because no be everybody go get continuous stream of income to take do regular DCA. Or e get any other method wey u fit suggest to Newbies wey no get better source of income?, but dey see money once-once?.

On a serious one, bitcoin no be cryptocurrency way person gat buy for a short period holding, you go only the wound yourself and time wasted too say na small money you take the hold for bitcoin the find better profit. Na for long time hodling na there you go fit make better profit with bitcoin onto say you go still gat to use better money invest am.
Na altcoins na dey go well for short term holding and nah there the quick  profit dey even with small money but nah no go area for any newbie or person wey no get money wey him go fit afford to lose cause the risk for altcoins it too high. You fit even go jam coin wey go just dump no rise again or rug pull, nah make people the avoid altcoins but na there the RBS dey for people wey no get shishi to use buy beta amount of bitcoin except say you wan dey do DCA.

Most people always like to dey swing trade with their bitcoin , because anything way be short-term, are mostly identify as trading because trading nah mostly deal with short-term profit. While investment nah the main main that's when one is talking about long-term holding of Bitcoin is mostly years . And for one to gain better profits from that long-term investment one need to think of ways he or can sash enough bitcoin for their portfolio.

Because if you no hold better quantity of bitcoin your profits might not reach anything. For instance imagine say person dey hold just $10 worth of bitcoin this time around wey bitcoin price big like this ( and more increase in price coming very soon). So that $10 go give like 0.000172 of bitcoin base on the recent price , so that person con manage hold am reach when bitcoin price hit $100k , the person go only endup with $17.2, so you can see that the profit nor too nice because of the low quantity of bitcoin stash so if you fit better stash of bitcoin and bitcoin hit such price range ($100k) you go endup with nice ROI.

Misconception say wetin dey happen here na only gambling and ponzi scheme na wetin make people dey believe say dem fit invest money today and become dangote tomorrow. We dey believe everything wey we dey see for internet say this person make like this amount and like that and we go just think say na so e be. Sometimes self I no dey blame the newbies  again because na the lies wey dem tell them to make dem use their referral code register for some of this exchange na wetin make them dey believe say the industry na where to not take am serious and just behave like say dem dey play bet9ja.


You no fit dey wrong with this method, e sweet pass when you get work and you dey get salary. Even though you no get salary work self but if you dey receive money and you fit plan yourself well on how you go dey run the monthly investment, before you know you dun put better money for the market than to they wait make you get better block to use buy one time. DCA makes investing in Bitcoin simple and more profiting, just know that one and sha only dey invest money wey no go too much for you if you lose am.

Let me just relate this your message to the short dip that is happens recently, just imagine that you bought Bitcoin now for some kind of short term hold thinking that since Bitcoin was already $62k that it would be maybe go up abit to $70k or $72k  then you probably sell off and get the profit and then you wake up with the price shifting down more to even $57k, I believe if you are not strong enough you would probably sell off with the fear that it won't pump or maybe the time frame in which you had for the investment might have elapse and sold at that $57k which indicates a big loss for you. That's why going with the short term investment mentality in Bitcoin is really never the best option as it is always better to HODL for long to atleast get a tangible profits to your investment in the future.