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Bitcoin price dropped after reaching a new ATH and there was a continuous decline. What I did during that period, I switched my DCA strategy from monthly to a weekly basis in the month of May and June. The strategy was of advantage to me especially when the price was experiencing decline on daily basis. This approach was very beneficial because my Bitcoin purchase increased due to weekly basis and I accumulated more in lower prices. I believed in the potential growth of Bitcoin and I'm trying to position my investment journey in the right track because the more you accumulate the better on potential returns could be when the bitcoin reaches higher price.
Bitcoin has proven to be resilience, right now the price is $69k. There are some folks who got caught up with short term fluctuations, and might have sold their bitcoin or reduced their consistency level of bitcoin accumulation when the price was on downturn. Those folks never believed in the resilience of bitcoin or their decision wete wrong , investors should always capitalise on the opportunities bitcoin offers either when the price is going up or down. Investing in Bitcoin is buying and accumulating good amount of bitcoin despite fluctuations. Selling shouldn't not be an issue, so long as we are for the long-term rather we should engage in critical thinking that will enhance our bitcoin investments.
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At the same time some of these mentors especially those one on YouTube that only want their videos to be the best, they don't speak much about losses only how to make profit and you'd agree with me that many who only think of getting more profit are those who uses their imagination to start up trading, they just picture themselves to be at the top above every other starter.
I think getting someone like a mentor shouldn't be a problem but the issue is how good is the mentor because everyone needs to be careful not to be in the losing side of trading, not everyone we call mentor has what it takes to guide someone to the right direction.
the is that is good to have a mentor in anything that has to cryptocurrency both trading and investment, and that mentor should be someone you know and can access at any point in time, so I believe that we have to understand that investment is quite different from trading because you may not bother to learn and master ways of buying and selling of cryptocurrency kind of investment and you may have or experience a profit, but in trading you have to acquire the knowledge before you can excel in trading, and trading need for you to have a mentor that's well known. When I was still pursuing a career in trading, even mentors will send a disclaimer that they are only giving you information with no guarantee that the information will work, and that the bulk of the job is in you finding what works for you. Some that are honest will tell you that until you personalise the information they are sharing, then you cannot make good use of them. This then mean that mentorship is good for many things but for trading, even your mentor will be struggling to make profits but will use paper trading for examples and will never want to trade live market with you because he understands its a different thing all together. Like I said before, demo trading is easy and everyone is usually a champion is demo which is in hindsight but when it comes to trading live market, even the mentors will hide for the sake of their reputation because Bitcoin will always mess them up when they try to predict the price movement with certainty. I have tried many things when it concern trading including using different mentors. When the chips are down, you will realise it is only you and the market. Trading is just too subjective and this is the reason it is difficult to scale through and the reason I choose another route which in buying and holding for long term. I agree with everything in your post Odohu, which largely it is difficult to find your right balance when it comes to trading, and so whether you end up trading and/or investing, you need to figure out your right balance, so in that regard, I believe that using your actual money is better than demo trading.. so any of us should be able to figure out some kind of balance in terms of how much we trade or how much we invest in which we are not nervous about whether we win or lose, so in that regard, if you are nervous about it, then you are likely trading/investing too much. In other words, I would suggest to practice with real money rather than fake money, even if your budget might start with just $100.. and so there is likely some need to have real money at stake in order to really learn, but you do not need to use a lot of money to learn, but it should be an amount that you are willing to learn, whether you consider yourself to be merely practicing or investing for the long term with real desires to make money and/or to increase your future options in life. That`s right is better to learn with real money than demo account when it comes to trading , but make sure the money you are using is something you can afford to lose. Most people believe after using demo account to learn all they need to become successful in trading they are good to go, but they always forget one thing that there`s a big different when real money is on the line , that`s where emotions management usually comes out . Because is one of the most common challenge traders do face , not being able to manage your emotions, but when you take your time and learn with real money you will be able to handle somethings easily while trading. But still either you a trader or an investor aslong you are in this space it is always advisable to have some nice bitcoin stashes in your portfolio in order to partake in this wonderful adventure in bitcoin investment. Trading is of no difference with gambling, As a trader learning with real cash or money you can afford to loose will only help in managing emotional aspects. There is still other aspects and skills to improve on to be a successful trader. Trading is just too complex, it fetches good profits but there are only few folks that can achieve profits, very few. Buying bitcoin is better because it ensures that it's in your possession, investing in Bitcoin with money you can afford to loose is better than risking it in trading. There is no need to be wasting money, even though its money we can afford to loose, Because trading with real money doesn't guarantee an individual to be successful in trading. When you keep loosing money it becomes frustrating no matter how little the amount might be why not use that money to buy Bitcoin to your possession with time you can grow your accumulation and make profits rather than wasting it on trading that is very complex and doesn't guarantee possession of bitcoin. |
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Some investors got to bitcoin early, yet did not recognize what they had, so they end up selling way too much too soon, so instead of continuing to buy bitcoin and making sure that they are continuing to build their wealth, they see 2x, 5x, 10x or even higher levels of profits in dollars, so then they end up selling way too much too soon, and based on their own income, they are not able to accumulate nearly as many bitcoin as they previously had with anywhere close to the same amount that they had invested earlier.. .so yeah, maybe they will come around to buying bitcoin again, but it can become psychologically difficult to switch from an accumulator to a trader and then to get back into accumulating, becuase there may welll be a realization that BTC buys may well end up being made for way higher prices than the earlier sales.. so that causes psychological difficulties.
Actually you can't blame those early Bitcoin investors who sold their Bitcoin way too early because just like some people are gambling on altcoins now that was basically how the early investors where doing same with Bitcoin because it was just a coin that was new into the market so no one would have given their 100% trust as at then and it's almost impossible to trust any system that just got introduced and has not gotten much attention and recognition by a large number of people so that was what happened among those early Bitcoin investors but now that they have seen the growth of Bitcoin I believe they won't find it difficult to buy at a high price now when they try to consider the price they bought it years back so the most important thing is having the finance to start now because with the height we all are anticipating the price of Bitcoin to reach, it's still at an affordable price now and buying Bitcoin doesn't mean we should go an all in or buy 1 BTC at a go, they can basically start accumulating now and hodl a reasonable amount that will boost their portfolio in time coming. I understand the psychological difficulties you are talking about but they don't need to continue dwelling in the past as Bitcoin has even proven to be more trustworthy now than when it was earlier invented. So the only thing now is to accept the mistakes of the past and move on to start making accumulations. I doubt that I am blaming early bitcoiners for selling, since we can make investment choices and even selling choices, and then we have to live with the consequences of our actions, and surely some folks learn from their experiences better than others. And, whether someone considers it to be a mistake to sell too much too soon, and yeah the way I am describing it is as a mistake because a lot of people do not realize that they are selling too much too soon until later, and sometimes they make the same mistake over and over and over. Other folks learn techniques in which they might still be able to sell, but not to sell too much and not to sell too soon. There are also folks who spent 1- 2 cycles mostly accumulating BTC before selling any... so yeah, some folks recognize the value of what they have earlier than others. And, yeah, knowledge about bitcoin has changed over the years, but people are still making the same and similar mistakes including NOT recognizing the value of bitcoin, which seems to be part of the explanation why we have so many no coiners and low coiners. It could well be that somewhere close to 99% of there world's population is comprised of low coiner and no coiners, and no one is going to buy bitcoin for them, they have to figure it out for themselves and take action...otherwise they will remain low coiners or no coiners. I believe we who are now the current set of investors are at a better advantage than earlier investors and we can actually learn from the mistakes they've made and ensure that we don't repeat those mistakes.
I doubt that we can avoid mistakes. We have to do the best we can with the information that we have, and sometimes we are going to make mistakes because we might not sufficiently figure out how to tailor our approach to our own circumstances, and so we likely will have to tweak our approach from time to time, since our information might change and also our circumstances might change and we have to make choices about how to balance out our approach to attempt to best account for those changes in information and/or circumstances. As time goes by we realise that its better to have bought more Bitcoin in the past than in the future, so investors selling off their bitcoin holdings, it might not be as possible to accumulate as he/she did in the past again. We can't avoid mistakes entirely, but we can try much as possible to learn from past errors not to do it repeatedly, We have to seek for ideas to cope with our investment not to fall on cheap mistakes. Many investors are failing to recognise bitcoins value over time, Bitcoin investment is a long term process that requires accumulating steadily over the years to achieve good possession of coins but so many bitcoin holders fail to keep up to the investment process repeating thesame mistakes they supposed to have learnt from, rather they still fall in same pit. Selling is a personal decision but we shouldn't do it because of challenge in the market or little gains, So we shouldn't sell our holdings because of challenges and to start afresh again rather we should stay patient holding onto our coins and focus on accumulating more to benefit from the long term growth and appreciation of value. "There is a saying that the end of a thing is better than the beginning"', meaning if we can stick to our investment plans to end it will be better, there are times challenges will be faced in our investment journey but we should keep pushing no matter the odds to get to end. As a beginner the aim is to accumulate enough Bitcoin and build a Portfolio not to sell untimely with intention to go in again, if we have accumulated enough Bitcoin and we wish to sell it should be done with discretion to remain in the process than to have regrets of unfavourable actions carried out. |
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[edited out]
In two or three decades, there will probably two different types of investors and it will be obvious merely by looking at their portfolio, - Those who bought the DIP/DCA and who HODLs Bitcoin - Those who have dismissed Bitcoin entirely, and it's performing relatively poorly for it ¯\_(ツ)_/¯ I get your idea and I agree with the overall idea that there are those who get it (and are focusing on BTC accumulation and holding) and those who are lacking focus or failing/refusing to have any clue about the value of accumulating bitcoin (or the disvalue when they don't). Yet, there are likely going to be variations of those two extremes in terms of potentially when a low coiner/no coiner finally gets bitcoin and what s/he finally does about it when s/he gets it... .. so yeah, the issue is ongoing in terms of when a person starts to accumulate.. which seems to be why a lot of us regular members might disagree regarding some of the BTC accumulation strategies, yet we still tend to agree that the sooner that low coiners / no coiners get started, the better off that they are likely going to be (or perhaps the more that they will be able to mitigate damages from their time as no coiner, low coiner and/or pre-coiner). But there will be those people who will be at one point of the extreme that holds no Bitcoin. Out of the eight billion people in the world right now, how many of us are actually accumulating/having a desire/interest in learning about Bitcoin? I believe that in two or three decades that line will be clear. Bitcoin is not perfect, but it will get bigger and BIGGER. Front run everyone now, worry about it later. Bitcoin is a breakthrough, like the invention of the telephone or something as ground-breaking as air travel. Yes, a lot of people are currently close to that extreme of having nothing left in their portfolio because the center of attraction has been drawn from growing and advancing portfolio to the sudden amount of profits we can make from investing. I'm confused, nothing left in their portfolio? Can you explain further? I may be wrong from the general stats but within as I have seen, i see investors who are already beginning to get carried away by the current price value of their Bitcoin compared to how much they had bought, seeing the profits on top creates this urge for them to sell. I speak with some few persons who have been with, and what they say is holding Bitcoin for that long doesn't guarantee them to get huge profits as merely holding little portions and also going through the long DIP is not likely what they would prefer, so they choose to rather sell as soon they get a bit of profits. It's understandable when investors feel the temptation to sell when bitcoin price rises, but the question is have they accumulated bitcoin to a satisfactory target?, Is that their aim when investing?. That should be to priority of an investor in Bitcoin investment than to be tempted with smaller gains because of price increase yield a little benfit to what was invested. It important to accumulate bitcoin to a satisfactory target and Holding for the long-term and also having patience on the market dips can lead to significant rewards or profits. Many persons doesn't really have that holding patience but it is the key to bigger profit. It's crucial to have a source of income when investing in Bitcoin in other not to be tempted to sell when their is a surge in bitcoin price when you haven't accumulated enough. Investors should discipline their self not to be persuaded with the urge of selling when your aims and target are not met. |
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Lets just accept the fact that the most common reason on why people do invest with Bitcoin or crypto as general is into its money making opportunity and this is indeed what most people been thinking
Discussion should be bitcoin based alone, when making references to crypto in your xplanations, you're simply generalising bitcoin together with Altcoins and shitcoins. There are newbies on this thread watching, which might sway their understand wrongly. Lets just accept the fact that the most common reason on why people do invest with Bitcoin or crypto as general is into its money making opportunity and this is indeed what most people been thinking
and on the moment that if its your first time and you are seeing on social media with those big profits and money that they do gain up, then it would really be molding up this kind of delusion
and belief that you could really be also to do such thing easily.On the time or moment that you will be able experience for yourself on how this market works or behaves then you would really be ending up
on having those realizations that it wasnt that easy or simply you do make out those kind of learnings on a hard way or simply you had faced up loses on which this is where people do usually end up.
This market is really that a roller coaster like kind of ride on which there's no way that you could really be able to predict on where it would be going or heading. Somehow
it would really be that not able to avoid not to assume that 100k could be reached up if we do really tend to base up with those things that happened in the previous cycle.
Investing in Bitcoin is really profitable that's why it has drawn many people to it. It's common for people to see the successful outcomes of investors in bitcoin but it is not an easy money making thing, it's not as simple as it seems, it requires consistency, discipline, dedication and commitment to achieve the rewards. Bitcoin is volatile making it unpredictable, you can't tell the exact direction. It's important to to approach Bitcoin investment with a long-term perspective using a strategy like DCA to overcome the challenges effectively. |
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Of course, to invest, you need sufficient knowledge because if you lack knowledge, the investment you make may lead to more losses. Of course, everyone doesn't want to experience losses, so if you really want to invest, you must have sufficient and good knowledge first. I myself am looking for learning. Just from this thread I think I can take some lessons from the many comments there are. Even though we may occasionally have to be brave enough to take risks, if there is a lesson that can be understood to minimize the risk then it is better to learn it, after all it won't result in a loss either.
Restraining myself is not an easy thing, I still can't control my patience very well, I'm still preparing myself to be more ready to do everything.
Understand the difference between basic and sufficient knowledge. Basic knowledge refers to the understanding the foundation needed to start investing while sufficient knowledge is a deeper level of understanding that allows for more advance and strategic investment decisions. Beginners or newbies can start bitcoin investment with basical knowledge, with time your knowledge advance further in your investment journey. Patience is a virtue when it comes to successful long-term holding, investing in Bitcoin (long-term holding) you have to discipline yourself to be very patient to succeed in your investment. It's a long-term process that rquires investors to be patient, When patient become challenging invest amount that you are comfortable with and can afford to loose only and also focus on the long long-term aim during market fluctuations and believe in the unique qualities and potential of Bitcoin. |
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People choose trade and end up with lose basically because they lack the skills and knowledge when it comes to trading field. For example, an investor will always go for investment meanwhile traders will go for trading so all this doesn’t matter. The only problem I get with traders or rather newly traders with zero strategy is they always want quick profit without learning first and most times they feel trading is easy compared with investing but that’s a lie, there’s this saying “what you know best will always speak for you “ meaning everyone should have the basic knowledge first before going deeply for example; bitcoin investment is program as a long term investment whereby an investor is expected to buy and hold secondly emergency funds is also needed more like a back up fund, etc. After reading different comments I think I understand, maintaining discussion is hard most times mostly when the discussion is not about trade rather holding so it’s best we try not to go off as there’s a board for trade and different kinds of discussions.
Trading is very complex making it too challenging for profit making especially to those with shallow knowledge. Trading bitcoin offers quick profits which can attracts many individuals who might not really have the necessary skills to navigate the high level of risk involved resulting to loss. It only takes a very skillfull and good trader to profit from trading and they are very rare and only few of them can make profit out of trading. The rate of success in trading cannot be compared to that of bitcoin investment, bitcoin investment has very high rate of successful beneficials. Holding Bitcoin has generally outperformed trading due its simplicity and the effectiveness of strategy like DCA. Its important to promote long term Bitcoin investment over trading, holding Bitcoin for a long term have historically shown more consistent and reliable results compared to trading especially for those looking forward to grow their investment with minimum risk. |
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Investing in Bitcoin is not risk free especially to investors who do not invest appropriately with the right approach and strategy, and also not sticking to their investment plans (long-term).
I disagree with your statement partly because long term investing is not risk free. Investing in Bitcoin or other coins certainly involves risk. If you are a professional investor then you are used to taking risks as the price of any currency is not always the same and fluctuates constantly. This is the picture we see in the cryptocurrency market. However, although the investment involves risk, the level of risk in Bitcoin investment is relatively low. The risk level of Bitcoin investment is low because investors buy and hold the currency for a long period of time by buying and accumulating small amounts in what we call the Dollar Cost Averaging method. If you want to earn substantial profits, investing in this method requires you to plan to hold the investment for a long period of time. Then you didn't grasp what I said properly, read well, I said is not risk free meaning there is risk involved in investing in Bitcoin. I never mentioned or made references to shitcoins or Altcoins investment in my comment, @AirtelBuzz you bringing it up on this thread. I was specifically talking about Bitcoin investment which is my only choice of investment in digital currency. I would never invest my funds in Altcoins and shitcoins, investing in shitcoins or Altcoins is a simple waste of funds. The opportunity bitcoin offers is very significant, there is no need to look side ways. |
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I dont mind saying mistakes, lots of people sold early because it was far more irregular back then. I like to think I've learnt a bit or gained experience. In any case BTC has to circulate and it is a positive its being used, traded.
There mere fact that bitcoin is traded, and even that trading is good for bitcoin's price discovery and liquidity does not mean that any of us should engage in trading, especially if we are looking out for our own interests in terms of attempting to gain value with the passage of time and to have more options because our portfolio ended up performing better through practices that largely started out with various forms of BTC accumulation through buying ONLY (or HODL) and did not use selling as a way to attempt to accumulate more bitcoin. Sure, once a guy (BTC accumulator) might reach some meaningful accumulation goal, then it surely may well start to be in his interest to either merely maintain his BTC stash or to start to sell BTC either with time-based methods (which might even be selling something like monthly) or price based methods, which might be selling certain amounts of his stash as the BTC price goes up. That's it jayjuangee, you know some people don't actually realize that Bitcoin should be a store of value that's why they are blindly selling or trading their Bitcoins but anyone who is concerned about the future of Bitcoin will find need to accumulate and HODL till they have gotten a huge portfolio then they can decide to sell part of their hodling depending on how much stash they have got and the price level at that period of time when they must have made significant profits in their investments. It's not as though we should HODL forever but we should have a broad understanding that Bitcoin is an asset that tends to increase more in value when we hodl than trade or sell. Every Bitcoin investor has a target of how much they want to accumulate for long term profits so when they approach their desired investment goal, selling part of their Bitcoin will not be an issue anymore but for a beginner, all he needs do is to buy and HODL and never should trade his Bitcoins till he must have made huge accumulations in the future. You are absolutely right, the best way to go about Bitcoin is to buy and hold for long term maybe using the DCA method or any other method one think is okay and I want to believe that everyone knows this so whoever that think trading or gambling is best then they should go ahead but they shouldn't come to panic or say any discouraging words after incurring some loses though there are a lot of people who are into trading and gambling which I can't tell if they are actually making good profit but I still wonder why people still trade Bitcoin even when the know that Bitcoin is not like shitcoin and alt which easily drop heavily and also skyrocket within an interval of time. Buying and HODLing bitcoin is an eye opening strategy for investors looking to make profit from their Bitcoin investments. It allows investors to benefit from the potential growth and value appreciation of Bitcoin over time. An investor shouldn't consider selling their bitcoin holdings without hitting a satisfactory level in their accumulation, stay disciplind to the approach. Holding Bitcoin for long term, is very beneficial. The approach is one of the most simplest ways to possess a valuable assets (Bitcoin). Definitely, With a long term holding intentions is more profitable and peaceful than trading, because the longer you hold the value and price increases over time |
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while global politics works hand in hand with demand and supply which is the core factor responsible for Bitcoin price movement,
Actually I want you to understand that the growth of Bitcoin has never for once depend on the politics, so perhaps I wonder why you would think that global politics is one of the factors behind the growth of Bitcoin, however may I remind you that Bitcoin has been doing very well right from the beginning even when most people were against it, so perhaps I wonder why all of a sudden because of Donald Trump statement about Bitcoin almost everybody began to conclude that the growth of Bitcoin depends on politics, actually I totally disagree with that, though the only good thing about it is that after what he said concerning Bitcoin people who were skeptical about Bitcoin will now realize that Bitcoin is the only way and also change the wrong mindset most people normally have on Bitcoin investment. But in regards to this context or development, what we should picture is that America is influential and most powerful nation globally in (politics, Economically etc.) An Aspirant during their campaigns mentioning or emphasizing on bitcoin simply shows how important and relevant Bitcoin is, it's a boost to the bitcoin community. So many countries looks up to US Economically, there are large percentage (%) of world population who haven't adopted bitcoin but the development can trigger adoption of bitcoin especially nations, organisations and individuals etc who looks up to US Economically. Bitcoin is still growing and their is more room for expansion, so when prominent nation like US discusses bitcoin it can have impact on adoption and growth globally. Perhaps what @Onyeeze failed to understand is that his theory of not having all the eggs in one bag shouldn't reflect on Bitcoin investment because I don't think there is any other investment more better than Bitcoin investment in my mind now in terms of diversification, however from his statement he seem to have been having a doubt about the future of the technology behind Bitcoin, however on the contrary instead of the technology to decline it will even improve the more as time goes by so he should remove his mindset about the technology because Bitcoin can never be affected anyway, so actually if this is the reason why he is having a double thought about Bitcoin investment I would suggest he start accumulating Bitcoin now because if he did not he will surely regret in the future.
“Behold, the fool saith, "Put not all thine eggs in the one basket" - which is but a matter of saying, "Scatter your money and your attention"; but the wise man saith, "Pull all your eggs in the one basket and - WATCH THAT BASKET." - Pudd'nhead Wilson's Calendar”Author ― Mark Twain, Pudd'nhead WilsonHonestly, i think diversification has to do with one's financial level at every stage in life. If a bitcoin investor have enough money to diversify then he should do so, but prioritizing his Bitcoin investment should be a necessity. At some stage in life (especially to the grownups within the age of 50 and above) they might be more scared to diversify because it will be harder to recover if the investment does not turn out successful. They rather choose to protect their wealth, by so doing sticking to just one investment that has been working properly for them. But a young man in his 20s can choose to try other investments as long as he is capable of doing so if it doesn't go out well, he has more time to come back up. But I won't want to take that chance. Concentrating on one investment builds wealth and I have tried it and it worked. If I am to diversify then it is to protect that wealth but I will put in my money into a safer asset. I'm inclined to your emphasis @Dailyscript, it all about mastering in a specific investment rather than diversifying when a specific purpose is not yet achieved. It's important to to focus on managing one resource, keeping close eye and managing such investment effectively. Our focus in Bitcoin in bitcoin investment, is to accumulate steadily and to hit a satisfactory level in our investment . Thinking about diversification as a newbie or not having a solid finance can be of distraction, so why not focus on achieving a specific investment purpose. |
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I dont mind saying mistakes, lots of people sold early because it was far more irregular back then. I like to think I've learnt a bit or gained experience. In any case BTC has to circulate and it is a positive its being used, traded. Tons of people mined BTC back when it was more home user and sold it, with electric bills that was quite normal to do. Your explanation sounds more of trading to me. To defeat your enemy you must know your enemy, thats as succinctly as I could put it. But its better I defer completely to Sun-Tzu Im not recommending trading, I wouldnt do that any more then recommending the next horse to win a race. There is a parallel in trading and gambling I agree, but people do want to discuss the market direction and I think that is fair to discuss and whether people act with conviction to buy more or less is upto them. I agree people should be doing DCA in growth assets & I would have agreed with that strategy even before BTC was invented. Majority of people wont be good at trading, if BTC is a bull market - it is, then there is a higher danger of missing out elevated by trading. Iam interested in trading but nobody should be betting they are correct with all their BTC, its such a volatile market that would be very difficult to achieve . Many people sold their bitcoin because they did not fully understood or grasp the potentials of bitcoin and the unique qualities compared to traditional assets ( Gold, silver, Real Estate stocks & bond etc). Bitcoin being the first of its kind ( digital currency) was an assets entirely different from others. It's decentralised nature made it different because it not determined or controlled by third party, the ability for transactions globally without a third party. Trading is not an option especially for individuals with investment intentions, because of its too volatile and challenging. Buying and HODLing bitcoin is regarded as the best approach when it comes to bitcoin, it has lesser risk especially when using a DCA strategy that is more comfortable to use in investing in Bitcoin. |
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Well not all altcoins are shitcoins. Some of them has the potential to grow and people are still making profits by investing in them. So I will not say that altcoins are bad. Only the professionals who have deep knowledge about the market and its movement can make profit out of altcoins. Believe me or not, altcoins are all about trends and hype. Once it fades away, it is gone.
it would have been better, if Bitcoin is not classified in same category of cryptocurrencies with these Altcoins and shitcoins. Bitcoin is an Assets of its kind. They are just trying to coattail bitcoin without any real substance. Shitcoins is shitcoins the only difference amongst them is that one can be more fucked up than another. Altcoins and shitcoins are bad choice of investment, don't be persuaded especially newbies with their juicy and unrealistic promises they offer ( quick profits). No need to look towards Altcoins and shitcoins because They lack solid fundamentals. Sticking to bitcoin that is established and compete with other Assets is the real deal and good choice to invest in digital currency. Investing in Bitcoin is the right suggestion we encourage individuals to partake because it has proven to be worthy on investing. Individuals have made good profit and created wealth for themselves because of bitcoin potentials and resilience. |
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And many people mention the word risk here, aren't we ready to lose? So why else use the word risk?
Investing in Bitcoin is not risk free especially to investors who do not invest appropriately with the right approach and strategy, and also not sticking to their investment plans (long-term). What makes Bitcoin to be risky is because its volatile in nature meaning the price fluctuates, some investors might struggle to keep up to a long term strategy when faced with FOMO (Fear Of Missing Out) or sudden changes in the market this can trigger emotional response causing some investors to take quick decision of selling at loss without reaching a profitable target. It's only investors who develop a disciplined approach and habit to their investment can go through the risk and make good rewards and profits. Investors should discipline their emotions not to take impulsive and unnecessary decisions that will result in loss due to the volatile nature of bitcoin. Having a long term perspective (HODLing bitcoin),helps in going through fluctuations, by focusing on your long-term strategy and not being emotional to market situation. With this kind of mindset investors can benefit from investing in bitcoin. |
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Some people only consider hodling for a number of years without considering if that is enough hodling, I think if one wants to accumulate enough he shouldn't not consider the number of years but consider if he has truly accumulated enough.
Number of years should be a prior which should be considered as a target of accumulating. When you don have a specific period/duration or time horizon then surely such person don't have focus. And investor always have a time frame of investment and schedule himself of how to apply the investment strategy to meet up his target with the specific period of time maybe 4-10years intervals or 10-20 year. Surely there are times along the line of investment process when a person may be jobless or out of fund or discretion to continue his investment procedure and such person investment approach may slow down a bit but h/she will still have that focus and zeal of meeting up the target of that period of time h/she planed. Sometimes an additional year may be added if such person was financially unstable for 1 year or more. maybe the speculated time frame was 4-10 years minimum but may be extended to 4-11 years adding 1 extra year. So all implies that time frame is very important in accumulation process because it keeps you motivated. What I was trying to say is that when you reach the number of years which is your target also consider if you have accumulated enough, some people may have a 6 years target of accumulation and when they get to that 6 years one may discover they have not accumulated enough that was why I said our fucus should be if you have accumulated enough. And one can decide not to have a number of years as a target for accumulation but a particular number of Bitcoin to accumulate which is seen as enough and I think that will give you even more focus. If you have a target of 6 years and you meet that target and you discovered you have not accumulated enough it may be frustrating and that is why having target of numbers of Bitcoin one wish to accumulate or have in the journey may be better. My opinion. Setting a target and achieving such target within a period of time are totally different, anything can happen at same time it’s advisable everyone consider how far they’ve accumulated first before thinking of taking out profit etc. For example, let’s assume Mr A had a target and worked towards achieving the target within the period of time set, definitely such investor has gotten a balance portfolio he/she desired meanwhile Mr B set a target but could not reach the target due to personal reason it’s expected the investor will still have to accumulate. There’s nothing serious in terms of number and years as an investor can still continue building their portfolio after reaching a balance portfolio or taking profit, all this depends on the investor. Building a satisfactory bitcoin accumulation overtime can be more reassuring than setting a time frame. But what really matters when building a solid Bitcoin portfolio is how consistent, committed an dedicated an investor is to achieve that purpose. if an investor set atarget of accumulating bitcoin in 10 years using a DCA of $20 weekly into Bitcoin in 10 years they can estimate their potential accumulation by calculating the total amount invested over the period. Example There are 52 weeks in year 52weeks × 10 years = 520 weeks in10 years $20 × 520 weeks = $10,400 accumulated in 10 years Price of bitcoin might change but it can can give you idea of you your accumulating outcome. What I'm trying to say, is that before setting a target an estimation can be made to know if an investor can be satisfied with such amount of bitcoin accumulated in such time frame or target. So I would prefer to just keep accumulating till I have utilize the opportunity to the fullest of satisfactory. |
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People who panic are not investors but they are traders.
People who are slow and full of hope are not loyal or long term investors but they are traders.
These two characteristics can be ignored in each of you.
Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.
I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.
early folks who accumulated bitcoin gradually and never considered selling their bitcoin holdings despite it keeps recording new ATH. It's because they understood and saw the growth potentials bitcoin carries, global Adoption and demands in the market was constantly on increase which keeps appreciating in price and making it a store value. Knowing this, if they keep holding onto their Bitcoin, more ATH will be recorded in the future it's important to utilize and maximize bitcoin potentials to it fullest to be profitable and successful. Some investors (newbie) now after an ATH is recorded they consider selling their bitcoin holdings, Knowing fully well that there is still a lot of potential growth in bitcoin, which will increase their investment profits higher. Because the more adoption and demand rate, more ATH will be recorded, Investors need to learn from early adoptors of bitcoin, and the need to be patient and utilize bitcoin to its maximum. There's still a very high percentage (%) of the world population, who has no investment in bitcoin, meaning bitcoin is still in ithe early stage with so much room for expansion. The successful reward from holding bitcoin for a long term makes it a very unique investment and make s bitcoin an asset of its own kind. HODLing Bitcoin stands out to be very profitable without the fear of losing your funds, you just have to accumulate steadily and purchase Bitcoin consistently to make profits. Bitcoin is still growing and look at the value it commands, an asset that is not up to 20 years old but possess a significant value. The potential of Bitcoin in the future is still broad and exciting as demand and adoption continue to grow globally investors will benefit more from the opportunities bitcoin will offer. Investors should save their self from trading stress, and Buy & HODL bitcoin for long-term which is stressless but not actually stress free. |
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One major thing most investors has fail to understand is that, greed is never a good thing, especially in this crypto industry, almost all veterans investors knows that when it comes to digital currencies, Bitcoin is second to none, but due to greedy of making 10x to 100x, they will still go ahead and invest in shit coin without taking into consideration the risk attached to it, they gambles with their hard earned money, even when they know how risky it is, some of them don't even know that investing in shit coin or alt are just like gambling, which the possibilities of them losing their hard earned money, is far greater than the possibilities of them making something out of it.
Secondly, most newbies investors that falls for this, are mostly misinformed, they were mostly told the juicy part of it, which is the 10x to 100x, but they weren't told how risky it is to invest in shit coin, until that greedy aspect of most investors are corrected, I Believe that the only way they can learn is on their own terms, which is learning it the hard way, when they have lost all their funds.
It's very unfortunate how some individuals get caught up with the unrealistic and fake promises that all these Altcoins & shitcoins offers. I wonder why some folks are persuaded by such kind of scenario. Before investing our funds it necessary to gether information about such investments. Why will an investor see Bitcoin which is a already established assets with reliable track record, growth potential, global adoption, high demand in the market and commanding a significant value. Some Individuals will see all these characteristics possessed by bitcoin, whhich offers good profit but rather be persuaded by unrealistic promises and fake gains altcoins and shitcoins offers. |
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so we shouldn't get distracted or confuse ourselves with things that is/are not suppose to
On this market, it is brutal to everybody. But you choose what's going to make you confused or not bothered at all. Many are very confused not just ourselves but also to the news that are coming out. With some movements of huge funds from A to B, they're already shaking and thinking that the market is going down. You remind me so much of when I was focusing on trading because these were our line of thought that the market has no mercy for anyone. Well, if you chose to put yourself in the line of fire by trying to predict every move of the market as traders do, the market will indeed be brutal to you. It takes just the decision to change from trading into holding to come out of the torture that comes from such situation of being dealt with by the market on daily basis. That is why every trader needs to take time before making decisions and for this, I don't want to put the hassle on myself so it's best to HODL. why take time to gamble with your investment when you can just buy and HODL? Sometimes in a bit to play too smart we end up shooting ourselves on the foot when we can just do the simple things that's less stressful. Buying your Bitcoin and HODling is something you can do while you're still doing your regular jobs and it will have zero effect on your job so why stress yourself trying to time the market and taking your time not to make any mistake and eventually making the mistake and losing all your funds or part of it in the process while you could have just bought your Bitcoin and never get bothered about price sentiment? I found my peace the day I transitioned from being a trader to a holder. It was really a big relief because I never experienced peace of mind then like I do now and the growth I have seen in my finances is massive and totally different from the stagnation and frustration I was facing trying to predict the market.
Nice. You don't have to be worried about the market actions and will not be problematic anymore about FUD that are being scattered through the media. That's obviously the sweet thing. All you need is to know that I'm buying my Bitcoin at a set-out day of the week if you're doing a weekly DCA or at a set-out day of the month if it's a monthly DCA and ensure that your funds are always available for your routine accumulation and that settles it all. When those trading are sad during the DIP, you're happy because the market has presented an opportunity for you to even buy more at a lower cost which all plays out to your own advantage. Buying and HODLing bitcoin is very stressless, compared to the stress involved in trading. In my own perspective There's no need to gamble your resources in trading when you can just buy and accumulate bitcoin at your comfort using a DCA strategy which is stress free, in accumulating Bitcoin without the pressure of timing the market. Holding Bitcoin can be helpful and stress free for folks who engage in other jobs or working class individuals, it can help avoid the stress that comes with trading such as Analysing the market frequently, making fast decisions and potential loss of money. Doing other job or working and being a trader can be a very difficult task which can result in attention divided causing lack of balance between work and trading but HODLing bitcoin is stress free especially when DCAing, all you have to do is just setting aside funds weekly or Monthly consistently to buy bitcoin on a regular basis to grow your bitcoin holdings steadily without monitoring the market. It's more safe and relaxed than trading. |
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I understand that most investors can't keep their mind and thought off their investment, but to be sincere, if you really want to hold for a very long period of time, you really needs to keep your eyes off the market, because that is what traders do, so since we aren't traders, I suggest that the best thing to do is to focus more on buying through the DCA accumulating strategy regardless of it current price and even aggressively during a dip if you have the financial leverage to do so, but paying too much attention to the market everytime is not a good thing as a Bitcoin investor, because some market situation might compel you to sell or temper with your holding out of fear or greed, so the best thing I can tell my fellow Bitcoin holder is that we should stop focusing too much on the price of Bitcoin for now, because we aren't traders, for we are investors, so we should behave as such.
We all know that we are still in the early days of Bitcoin, so the potential is extremely high, we knows that in 5 - 10 year time from now, it might even do 5x to 10x, so what's the point monitoring the price chart? So the best for now is to try to accumulate more Bitcoin as much as possible, because when you have a very good stash of Bitcoin in your possession, that is what gives you the capacity to build a generational wealth overtime.
Bitcoin investment can likely be compared to a farmer growing and keep nurturing its crops despite weather conditions such as sun, rain etc but waiting for the appropriate season to reap the rewards. The ups and down of the bitcoin trend can likely be reffered as weather conditions but an investor should not be worried but stay focused on accumulating despite market fluctuations. Staying patient and consistent, the appropriate season will come when your investment in bitcoin will definitely yield profit. Investor should learn not to get caught up with short-term situations in the market but having the bigger picture of what bitcoin is capable and what it can offer. |
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While you're being scared, smart money is doubling down. That’s because this dip is nothing new. As you can see, Bitcoin goes to a new all-time-high every 4 years: 2012: Bitcoin goes from $12 to $1000 = ~9,000% increase 2016: Bitcoin goes from $650 to $19K = ~3,000% increase 2020: Bitcoin goes from $8K to $69K = ~1,200% increase 2024: ? Notice how, in every consecutive cycle, the #Bitcoin returns get smaller by about ~60%. That would imply a 450% price increase this cycle, putting Bitcoin at ~$330,000 per coin. hereThoughts? 
An investor will fully understand how to invest from here, because once you buy the dip it will hit the highest level in the next bull market. So it is proven that once an investor invests and if he buys DCA method or regular dip then he will definitely get success. And this figure proves the success of investors. your highlights is very explicit concerning the historical analysis of bitcoin but its very doubtful for a 450% price increase and bitcoin setting a new ATH of $330,000 per coin in this year 2024. Saying so or comparing with such analysis, simply suggest that the price is determined or manipulated. How is that so possible, especially when we are still waiting for bitcoin to reach 100k which is still not certain and realistic rather than 3× of it. Common mate such a high percentage 450% is not worth having the thought of it to be realistic in this 2024. Buying bitcoin with either of the strategy (DCA, buying the dip, lump-sum) that aligns with our investment aims and according to our financial power with a perspective to HODL for long period will definitely be profitable and successful. |
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Yes we are not developers who have to know those complicated technicals, investors like us just need to learn the basics of a simple but relevant investment strategy for ourselves and it should be customized whether we are with DCA or buy dips on every dip it is important we have a plan for it.
Actually, bitcoin investment is easy with even small money we can do it, and indeed never delay investing while the price of bitcoin is still low, this is the best solution where we can start now, do not let when the price of bitcoin is high then say sorry.
Of course you have to have a plan, having it means we are ready to do it, but we also have to be able to see the risks that cannot be eliminated. There are many strategies that can be done and it depends on which one we want to do. One of them is DCA, which is probably done more by everyone because it is easy to do. I want to correct one impression that you are making here that many people are utilizing the DCA method because it is easy to use. No that's not the case, rather many people are making use of DCA strategy because it is more effective way of investing in bitcoin as it reduces the impact on the capital invested should there be a sudden drop in the market. The DCA method makes the capital outlaw not to reduce drastically when there is a sudden decline in the bitcoin market. This is the more reason why many people are comfortable with using the DCA method of bitcoin investment, not because it is easy. Also the DCA method makes it easier for people to buy bitcoin at their own pace according to their financial level. The truth is there is no method of bitcoin investment that's difficult to use. DCA can be said to be easy compared to other strategy used in purchasing bitcoin, because DCA allows you to invest or buy bitcoin with amount at your comfort and manages risks (fluctuations). Many investors especially, newbies with long term perspectives align using DCA strategy to accummulate bitcoin because of its effectiveness, regardless of what bitcoin price may be either up or down, it saves you from the stress of monitoringthemarket and buying with chunk of your income. But DCA requires doing it consistent, dedicated and committed to actualized its effectiveness. |
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