Is Holding Bitcoin a long time good way to make money?

[razen489]

The price sure continue to only go up, a pull back is going to happen any moment (ive been expecting that for the past few days since the bull)
https://www.coingecko.com/en/price_charts/bitcoin/usd

When one is in a bear, you find it hard to convince others
When it is a bull, you find it scary to get onboard
Hungry when others are fearful

[Amph]

bitcoin is proving itself right now, that it can have a +50% return in a week, far better than any investment

if anyone believe that bitcoin is done, he is utterly wrong, we are only at the beginning, 1200 ath will look like a small success in the future

Current bitcoin price is probably the end of present bubble. If you buy bitcoin right now you will probably lose as there are some signs of price reverse.
For example: Bitcoin is now banned in Taiwan. Markets will react fast.

taiwan is very small i'm not expecting anything from that news, and it is even bigger now the value, we are at 430, i think we aim at 500 for now, no sign of dumping

[GannickusX]

bitcoin is proving itself right now, that it can have a +50% return in a week, far better than any investment

if anyone believe that bitcoin is done, he is utterly wrong, we are only at the beginning, 1200 ath will look like a small success in the future

Current bitcoin price is probably the end of present bubble. If you buy bitcoin right now you will probably lose as there are some signs of price reverse.
For example: Bitcoin is now banned in Taiwan. Markets will react fast.

Yes? I would like to know what those signs are, im looking forward to your answer in this post. People should stop trying to look like proffesionals on bitcoin investments because the reality is that no one knows shit, lets be honest here, predicting bitcoin is just like gambling.

[OccidentalCoin]

I mine bitcoins. It works like I buy bitcoin, but a little below market price. When the price rise, the difficult will also rise. It means I will get fewer bitcoin.

I want stable bitcoin price.

[ranochigo]

Holding Bitcoin can be both a good way and a bad way of making money. If you are going to hold Bitcoins, you are expecting the Bitcoin price to rise over the money you bought at. This would prove to be a bad investment if you bought at the peak if it doesn't recover in the future.

[viking02]

okay since i'm the original poster of this post, i have question to ask here.


I didn't know that much about bitcoin but at the time when it went down to a bit below $200, i had thought... no way it will get lower than that.  It then moved back over $200 and then was around the $220-$240 for a long period of time.  Then moved up a bit and then of course hit that huge surge recently where i saw it went up to $300, then $350 then right now its all the way up to $490.


So in essence if you feel at the time hey bitcoin even at $240 is pretty low... if you buy a ton of bitcoin... then wait for it to go up like the huge spike now... then decide to sell a lot of btc... then assuming it drops down pretty hard say back to $250... then you buy a lot of btc again then if it goes back to $450.... then you rinse and repeat if you will... isn't a person going to make a lot of money assuming they have a lot of money to buy a lot of btc?

[Slark]

bitcoin is proving itself right now, that it can have a +50% return in a week, far better than any investment

if anyone believe that bitcoin is done, he is utterly wrong, we are only at the beginning, 1200 ath will look like a small success in the future

Current bitcoin price is probably the end of present bubble. If you buy bitcoin right now you will probably lose as there are some signs of price reverse.
For example: Bitcoin is now banned in Taiwan. Markets will react fast.

Yes? I would like to know what those signs are, im looking forward to your answer in this post. People should stop trying to look like proffesionals on bitcoin investments because the reality is that no one knows shit, lets be honest here, predicting bitcoin is just like gambling.

As you said, there is no 100% certain prediction about bitcoin price. Factors which push price are just so hard to notice.
That doesn't stop up from wondering, creating scenarios and expecting certain outcomes.
Price prediction is like gambling, but we have slightly more data to back up our expectations.

[randy8777]

Holding Bitcoin can be both a good way and a bad way of making money. If you are going to hold Bitcoins, you are expecting the Bitcoin price to rise over the money you bought at. This would prove to be a bad investment if you bought at the peak if it doesn't recover in the future.

that's why you should only buy when the price is getting dumped to the ground. for some reason people are a bit of affraid to do that. they buy once they see the price go up.

[GannickusX]

bitcoin is proving itself right now, that it can have a +50% return in a week, far better than any investment

if anyone believe that bitcoin is done, he is utterly wrong, we are only at the beginning, 1200 ath will look like a small success in the future

Current bitcoin price is probably the end of present bubble. If you buy bitcoin right now you will probably lose as there are some signs of price reverse.
For example: Bitcoin is now banned in Taiwan. Markets will react fast.

Yes? I would like to know what those signs are, im looking forward to your answer in this post. People should stop trying to look like proffesionals on bitcoin investments because the reality is that no one knows shit, lets be honest here, predicting bitcoin is just like gambling.

As you said, there is no 100% certain prediction about bitcoin price. Factors which push price are just so hard to notice.
That doesn't stop up from wondering, creating scenarios and expecting certain outcomes.
Price prediction is like gambling, but we have slightly more data to back up our expectations.

Well with that said it is possible to predict the price more accurately when something that affects bitcoins happen, thats why, if you want to be a good trader/investor, you should always check the news about bitcoin in different places because you never know when something incredibly big happens and you could be the first one to see it, meaning that you can profit a lot from it.

[newbitcoins]

Holding Bitcoin can be both a good way and a bad way of making money. If you are going to hold Bitcoins, you are expecting the Bitcoin price to rise over the money you bought at. This would prove to be a bad investment if you bought at the peak if it doesn't recover in the future.

that's why you should only buy when the price is getting dumped to the ground. for some reason people are a bit of affraid to do that. they buy once they see the price go up.

Yes. When price rises, people have euphoria, and will buy quickly. When the price drop too much, people will feel depressed, so they will not buy. It is very difficult to do the opposite.

[viking02]

I'm confused with this.  My thoughts were when bitcoin kept dropping so much that it was at one point under $200 for a bit, get bitcoin because i can't imagine bitcoin getting lower than that.  My thoughts are if btc keeps rising like it has been, i feel like it will eventually go down.  Thus buying high isn't ever a good idea.  I recalled it went up to 480 then just dropped to 360 within 24 hours. 



Another question i want to ask.  To those ppl who trade bitcoin by buying low and selling high... how does one do this?  Do we need an account at an exchange?  Obviously using coinbase and circle wouldn't work right?


What exchange does one need if they want to buy and sell bitcoin instantly?  Most importantly, how much are the fees per each transaction?


How does one fund that account?  Through a bank wire or bank transfer ACH to the exchange?  So if one buys say 10 BTC at $350 each it cost $3500 plus how much in fees?  Then let say it goes up to $380.  Then you want to sell all 10 btc at $380 so $3800 total.  How much fees does one need to pay for that?  Thus you would profit $300 here but are the fees a lot?  Is the exchange like 1% each way so $35 to buy $3500 worth of btc and $38 to sell $3800 worth of btc so $73 in fees and thus $300-$73 so $223 profit?

[newbitcoins]

I'm confused with this.  My thoughts were when bitcoin kept dropping so much that it was at one point under $200 for a bit, get bitcoin because i can't imagine bitcoin getting lower than that.  My thoughts are if btc keeps rising like it has been, i feel like it will eventually go down.  Thus buying high isn't ever a good idea.  I recalled it went up to 480 then just dropped to 360 within 24 hours. 



Another question i want to ask.  To those ppl who trade bitcoin by buying low and selling high... how does one do this?  Do we need an account at an exchange?  Obviously using coinbase and circle wouldn't work right?


What exchange does one need if they want to buy and sell bitcoin instantly?  Most importantly, how much are the fees per each transaction?


How does one fund that account?  Through a bank wire or bank transfer ACH to the exchange?  So if one buys say 10 BTC at $350 each it cost $3500 plus how much in fees?  Then let say it goes up to $380.  Then you want to sell all 10 btc at $380 so $3800 total.  How much fees does one need to pay for that?  Thus you would profit $300 here but are the fees a lot?  Is the exchange like 1% each way so $35 to buy $3500 worth of btc and $38 to sell $3800 worth of btc so $73 in fees and thus $300-$73 so $223 profit?

The biggest exchange outside China is Bitstamp (https://www.bitstamp.net/)

The fee varies depending on the your trading volume, from 0.25% to 0.1%. https://www.bitstamp.net/fee_schedule/

[newbitcoins]

I'm confused with this.  My thoughts were when bitcoin kept dropping so much that it was at one point under $200 for a bit, get bitcoin because i can't imagine bitcoin getting lower than that.  My thoughts are if btc keeps rising like it has been, i feel like it will eventually go down.  Thus buying high isn't ever a good idea.  I recalled it went up to 480 then just dropped to 360 within 24 hours. 



Another question i want to ask.  To those ppl who trade bitcoin by buying low and selling high... how does one do this?  Do we need an account at an exchange?  Obviously using coinbase and circle wouldn't work right?


What exchange does one need if they want to buy and sell bitcoin instantly?  Most importantly, how much are the fees per each transaction?


How does one fund that account?  Through a bank wire or bank transfer ACH to the exchange?  So if one buys say 10 BTC at $350 each it cost $3500 plus how much in fees?  Then let say it goes up to $380.  Then you want to sell all 10 btc at $380 so $3800 total.  How much fees does one need to pay for that?  Thus you would profit $300 here but are the fees a lot?  Is the exchange like 1% each way so $35 to buy $3500 worth of btc and $38 to sell $3800 worth of btc so $73 in fees and thus $300-$73 so $223 profit?

The biggest exchange outside China is Bitstamp (https://www.bitstamp.net/)

The fee varies depending on the your trading volume, from 0.25% to 0.1%. https://www.bitstamp.net/fee_schedule/

[ph.amracyshop]

Actually it is risky but it also depends on the bitcoin.

[viking02]

Can people with USA bank accounts use bitstamp?

I'm confused with this.  My thoughts were when bitcoin kept dropping so much that it was at one point under $200 for a bit, get bitcoin because i can't imagine bitcoin getting lower than that.  My thoughts are if btc keeps rising like it has been, i feel like it will eventually go down.  Thus buying high isn't ever a good idea.  I recalled it went up to 480 then just dropped to 360 within 24 hours. 



Another question i want to ask.  To those ppl who trade bitcoin by buying low and selling high... how does one do this?  Do we need an account at an exchange?  Obviously using coinbase and circle wouldn't work right?


What exchange does one need if they want to buy and sell bitcoin instantly?  Most importantly, how much are the fees per each transaction?


How does one fund that account?  Through a bank wire or bank transfer ACH to the exchange?  So if one buys say 10 BTC at $350 each it cost $3500 plus how much in fees?  Then let say it goes up to $380.  Then you want to sell all 10 btc at $380 so $3800 total.  How much fees does one need to pay for that?  Thus you would profit $300 here but are the fees a lot?  Is the exchange like 1% each way so $35 to buy $3500 worth of btc and $38 to sell $3800 worth of btc so $73 in fees and thus $300-$73 so $223 profit?

The biggest exchange outside China is Bitstamp (https://www.bitstamp.net/)

The fee varies depending on the your trading volume, from 0.25% to 0.1%. https://www.bitstamp.net/fee_schedule/

[Amph]

Actually it is risky but it also depends on the bitcoin.

the risk/reward ration is in favor of the reward if you hold, so it's worth it more than many other asset right now, which are facing only a good stagnation

[Miracal]

i think so risky if you Holding bitcoin a long time  , may be just 3-6 Month it's good . but , if you already got cheap or profit you should sell your bitcoin , and waiting dump again .

I agree. I always follow the strategy to sell my Bitcoins when they reach a 'set' profit margin. Too much waiting can mean greed and then the decision making abilities are hampered by it. I would suggest to set a fixed 'profit margin' (within reasonable limits of course) and sell when the price touches that floor.

[bitcoinmar]

i think so risky if you Holding bitcoin a long time  , may be just 3-6 Month it's good . but , if you already got cheap or profit you should sell your bitcoin , and waiting dump again .

I agree. I always follow the strategy to sell my Bitcoins when they reach a 'set' profit margin. Too much waiting can mean greed and then the decision making abilities are hampered by it. I would suggest to set a fixed 'profit margin' (within reasonable limits of course) and sell when the price touches that floor.

In current situation best policy is if you have good profit then sell and as you look reasonable price then buy back because holding long time for profit is not good 

[GannickusX]

Actually it is risky but it also depends on the bitcoin.

It's not risky, you can always check the bitcoin price everyday and if you consider is falling too fast or too much you can always just sell the bitcoins you bought or convert them into another coin. You really can make a long term investment into a short term investment, there are no real long term investments in bitcoin.

[bitmarket.net]

okay since i'm the original poster of this post, i have question to ask here.


I didn't know that much about bitcoin but at the time when it went down to a bit below $200, i had thought... no way it will get lower than that.  It then moved back over $200 and then was around the $220-$240 for a long period of time.  Then moved up a bit and then of course hit that huge surge recently where i saw it went up to $300, then $350 then right now its all the way up to $490.


So in essence if you feel at the time hey bitcoin even at $240 is pretty low... if you buy a ton of bitcoin... then wait for it to go up like the huge spike now... then decide to sell a lot of btc... then assuming it drops down pretty hard say back to $250... then you buy a lot of btc again then if it goes back to $450.... then you rinse and repeat if you will... isn't a person going to make a lot of money assuming they have a lot of money to buy a lot of btc?

As Keynes said: "sometimes the market can remain irrational longer than you can remain solvent"