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

[twa]

I first got bitcoin from withdrawing from gambling sites.  I deposited with another method but could withdraw bitcoin so i did it.  Around that time bitcoin was around $220 usd or so and when i got it, i would then trade it for poker funds from other person etc because I didn't want to hold the bitcoins due to reading about price fluctuations.  However, isn't the value of bitcoin almost always going to go up so its best to hold it?  I know last year it was $600 and the highest was when it was more than $1000 per bitcoin.  But since it is all the way down to $200-$300, isn't having bitcoin always good?  Could bitcoin go all the way to 0 soon?  I had thought hey if you get bitcoin when its $230 when the price stayed like that for a long time, thats great b/c very hard for it to go below $200 because i haven't seen that.  But even if it does, isn't it almost always going to rebound and go back up?  Last time i had btc and it was $230 or so and now it went up to $260.  So if you have say 100 bitcoins... well... thats a nice $3000 profit or so.


I'm sure there are ppl that have thousands or bitcoins right and just hold on to it?  And many that would sell btc immediately if prices go all the way up?  If someone had say 500 bitcoin... then btc price went up $20 in say a week or so... selling it would net them $10000 minus fees right?  However if they sell it via localbitcoins or other method, they are going to get a higher profit right?  However if they do this, say sold all their 500 btc... then once bitcoin later in the year go up another $50... well that would be $25000 less they would have earned.



In general, isn't holding BTC always a good thing since the price of it is pretty low now?  Obviously if you bought btc at $600 or $1000 and thought it would went up and held on to your btc, that would been a disaster.  But since its in the $200-$300 range, isn't having BTC always good?

There is no doubt that holding bitcoins in your wallet is really great idea, because these prices will raise up sometimes, but it's not 100% safe. So it's your choice to hold them or not. now prices are a little down but it will raise up i think

[Aamir1]

I think holding bitcoins for a limited time can be profitable but it can be risky holding them for too long. No one can really know what will happen in coming time, especially now, after the halving.

Exactly, holding your coins can earn you good profits if you hold them just for sometime until the price goes to a reasonable amount that can earn you some good profits, but it can reduce your profits if you hold them for too long because we can never know when the price starts dropping again.

[noormcs5]

I have held some since it was fairly cheap early on so I can say out of experience that it is a good way to bank profit because I sold some just before the dip last week and have keep some for the impending increase that is too come.
So I can say all in all it is a good way to earn money on your initial investment of buying them early enough.

Yes i also sell 2 bitcoins of mine three weeks back fearing the Bitfinex Crisis would further dent the bitcoin prices. I wrongly perceived it as bitcoin is now back to its price it was before the bitfinex crisis.

[Hellacopter]

Yes, holding Bitcoin a long time is a good way to make money, because the Bitcoin's price will increase sooner or later and that is will the opportunity to make profit for the holders

[nejibens]

Holding Bitcoin is profitable for the long run, but it's a little bit risky as well, because the price could decrease instead of increasing.

[richardsNY]

I have held some since it was fairly cheap early on so I can say out of experience that it is a good way to bank profit because I sold some just before the dip last week and have keep some for the impending increase that is too come.
So I can say all in all it is a good way to earn money on your initial investment of buying them early enough.

Yes i also sell 2 bitcoins of mine three weeks back fearing the Bitfinex Crisis would further dent the bitcoin prices. I wrongly perceived it as bitcoin is now back to its price it was before the bitfinex crisis.

Not entirely. The price was around $650 when the news about Bitfinex started to kick in. In a very short time it dropped all the way down to the $465 price level. Great opportunity to make a quick profit. May I ask at what price you sold your coins at?

[prizeking]

Holding is good if you do not mind doing it long term. I suspect the price to gradually increase over the next few months.

[Aamir1]

Holding Bitcoin is profitable for the long run, but it's a little bit risky as well, because the price could decrease instead of increasing.

That happens most of the times that people holding their bitcoins and not even selling them when the price is quite high because they think they will get higher returns later on but suddenly the price falls down, so it is always better to sell some of the coins you have when you get a reasonable price for it.

[Babayega31]

Holding Bitcoin is profitable for the long run, but it's a little bit risky as well, because the price could decrease instead of increasing.

That happens most of the times that people holding their bitcoins and not even selling them when the price is quite high because they think they will get higher returns later on but suddenly the price falls down, so it is always better to sell some of the coins you have when you get a reasonable price for it.

I think no there are only few people are holding their bitcoin since the bitcoins are now rotating everywhere and many people are afraid for downwards flactuation today since the bitfinex issue are just happened for those past days, but today the price are turning back high again and i think it is regaining back to its form slowly, lucky for those people who buys bitcoin at the dumping stage of it and they earn some profit these days ahead.

[amanojaku]

Still worth to hold bitcoin for 1-2 years i think

[ronaldo40]

Holding Bitcoin is profitable for the long run, but it's a little bit risky as well, because the price could decrease instead of increasing.

you must have a right time to buy bitcoin at a price not too high, for example, you buy a bitcoin under $500, it's good hold for the long term. because I believe, at least in the future price of bitcoin will be higher is above $500, even very likely be at $1000.
so if it happens to be safe, because I believe bitcoin in the future will not fall below $500.

[iqlimasyadiqa]

Holding Bitcoin is profitable for the long run, but it's a little bit risky as well, because the price could decrease instead of increasing.

you must have a right time to buy bitcoin at a price not too high, for example, you buy a bitcoin under $500, it's good hold for the long term. because I believe, at least in the future price of bitcoin will be higher is above $500, even very likely be at $1000.
so if it happens to be safe, because I believe bitcoin in the future will not fall below $500.

holding bitcoin is not necessarily beneficial. we must choose the right time to buy and sell bitcoin. because the saving too long bitcoin will not generate much money. better for bitcoin trading consistency. it would be much more profitable.

[Fatanut]

I don't think that's a good way at all but it can make you a fortune after a decade or two. Your profit would still be depending on how much you invested in the first place. The process of it is just not that good. All you're doing is holding bitcoins, no knowledge and no experience will ever be gained by that action. Also, you're unable to use any bitcoin at all because you want to get as much profit as you can.

[Das]

Exactly, holding your coins can earn you good profits if you hold them just for sometime until the price goes to a reasonable amount that can earn you some good profits, but it can reduce your profits if you hold them for too long because we can never know when the price starts dropping again.

The price of bitcoins may go up and down in the short term, but in the long term it increases. Holding it for long term is a good idea if you have available funds.

[Mr. Big]

I don't think that's a good way at all but it can make you a fortune after a decade or two. Your profit would still be depending on how much you invested in the first place.

I believe that if you are holding your coins for a long time, you should keep on converting it to fiat and vice versa when the situation is in your favor.. with that, you will earn small, but atleast more than keeping it for a long time...

The process of it is just not that good. All you're doing is holding bitcoins, no knowledge and no experience will ever be gained by that action. Also, you're unable to use any bitcoin at all because you want to get as much profit as you can.

That's right, there will be no knowledge for you to learn when you are just keeping it, no growth also in your experience, so, compared to those people who came into this world the same age as you, they will be more knowledgeable than you and their experience will make them earn more than you can...

[Aamir1]

The process of it is just not that good. All you're doing is holding bitcoins, no knowledge and no experience will ever be gained by that action. Also, you're unable to use any bitcoin at all because you want to get as much profit as you can.

That's right, there will be no knowledge for you to learn when you are just keeping it, no growth also in your experience, so, compared to those people who came into this world the same age as you, they will be more knowledgeable than you and their experience will make them earn more than you can...

Experience about something comes only by doing that thing, experience is not something that can be learned or earned by anywhere, so for experiencing something someone needs to try it first and then he will have the experience about that whether it is good or bad, but atleast he will have the experience.

[Superzpay]

The process of it is just not that good. All you're doing is holding bitcoins, no knowledge and no experience will ever be gained by that action. Also, you're unable to use any bitcoin at all because you want to get as much profit as you can.

That's right, there will be no knowledge for you to learn when you are just keeping it, no growth also in your experience, so, compared to those people who came into this world the same age as you, they will be more knowledgeable than you and their experience will make them earn more than you can...

Experience about something comes only by doing that thing, experience is not something that can be learned or earned by anywhere, so for experiencing something someone needs to try it first and then he will have the experience about that whether it is good or bad, but atleast he will have the experience.

and the alternate thing to experience is to ask about any action a person want to do, with that we also get a very good knowledge without any experience. here are a number of older members who know well about all the aspects of bitcoin they can give us better suggestions, with that we will be saved from the loses we face while getting to experience that action, which we want to learn.

[0day]

The process of it is just not that good. All you're doing is holding bitcoins, no knowledge and no experience will ever be gained by that action. Also, you're unable to use any bitcoin at all because you want to get as much profit as you can.

That's right, there will be no knowledge for you to learn when you are just keeping it, no growth also in your experience, so, compared to those people who came into this world the same age as you, they will be more knowledgeable than you and their experience will make them earn more than you can...

Experience about something comes only by doing that thing, experience is not something that can be learned or earned by anywhere, so for experiencing something someone needs to try it first and then he will have the experience about that whether it is good or bad, but atleast he will have the experience.

and the alternate thing to experience is to ask about any action a person want to do, with that we also get a very good knowledge without any experience. here are a number of older members who know well about all the aspects of bitcoin they can give us better suggestions, with that we will be saved from the loses we face while getting to experience that action, which we want to learn.

yes asking and learning can redirect us to the success , but sometimes it do not happen as you are thinking as not everyone is that much intelligent that they only by listening others will become skillful in a specific field, they often learn by involving in that field.

[Cast12]

Holding bitcoin for long-term s a good way to either make money or lose money. If you have a lot of bitcoins and the price increased, you can potentially make big money. It's also the same if the price decreased, but instead of winning, you are losing money.

[richardsNY]

Holding bitcoin for long-term s a good way to either make money or lose money. If you have a lot of bitcoins and the price increased, you can potentially make big money. It's also the same if the price decreased, but instead of winning, you are losing money.

I once bought quite a few coins at $270 and the price increased to over $300 which gave me a good feeling of course, but then it kept dropping and even went slightly below the $200 level. But I kept holding strong and managed to secure profits at around the $420-$450 levels back in November last year. Keep in mind that you only lose money when you sell your coins at a loss.