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

[MarketMagic]

https://coins.newbium.com/post/297-bitcoin-price-analysis-for-week-of-august-15th

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[Hallmader]

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.

I bought some bitcoin this time last year. On paper, I might have made some good profits. But it does not matter to me. I will hold them for the long term.

[Dudeperfect]

There are two sets of rules I follow, both of them are from legendary warren buffet.

Investment –
# 1. Never lose your money
# 2. Never forget rule no 1
 
Investment Strategy –
# 1. When others are greedy be fearful and when others are fearful be greedy.

That’s the answer for your question. Holding is good when others are selling and it’s not good when others are doing it. I am not saying don’t hold but that’s something related to invest more.

[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.

I bought some bitcoin this time last year. On paper, I might have made some good profits. But it does not matter to me. I will hold them for the long term.

That's fantastic of course, but even as a long term holder (which I am as well) it's good to secure profits from time to time. I bought well below $400 and secured profits at around $750 back in June. As soon as the price came down due to Bitfinex being hacked, I managed to buy back below the $500 level.

[Maesters1-]

yes holding bitcoin for a long time is really a good way of making money, i think it is the safest and most profitable way of making money, if you have invested your money in bitcoin for a long time you will be confident and will not care for the miners fluctuation and in the end you can make a good profit.

[satdas]

yes to me short time investment is  very risky and you can book lose any time. but long term investment is very good and you really get a good and conform profit from long term investment.

[Sailthor555]

Not a good way to make money if you only hold your bitcoin imo. Start trading bitcoin or altcoins to double your bitcoin and sell your profit to USD. I think that its good way to make money.

[StoreBit]

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.

i have a good experience about long term investment, i also already did work in stock exchange where my trend was also long term investment, still i am holding Band Alfalah shares for last 5 years and still not thinking to sell so. i believe on long term investment because it is less risky and profitable investment.

[Superways]

Not a good way to make money if you only hold your bitcoin imo. Start trading bitcoin or altcoins to double your bitcoin and sell your profit to USD. I think that its good way to make money.

After doing trading it is not sensible that we have to sell our bitcoins for fiat/usd, but we have to wait with them for more longer and so with that we will also get the profit with the price rise also, we should have to think for long term investment in bitcoin as I think only that is the way to get the profit.

[Herbert2020]

Not a good way to make money if you only hold your bitcoin imo. Start trading bitcoin or altcoins to double your bitcoin and sell your profit to USD. I think that its good way to make money.

After doing trading it is not sensible that we have to sell our bitcoins for fiat/usd, but we have to wait with them for more longer and so with that we will also get the profit with the price rise also, we should have to think for long term investment in bitcoin as I think only that is the way to get the profit.

there are two kinds of investment: one is when you invest in bitcoin in short term or long term and sell it as soon as there is a rise to make fiat profit and get out.
and the other is when you invest in bitcoin to gain that profit but also gather more bitcoin for the future to "use" bitcoin directly as a currency.
so in each of these the way you buy and sell is a lot different.

[serjent05]

Not a good way to make money if you only hold your bitcoin imo. Start trading bitcoin or altcoins to double your bitcoin and sell your profit to USD. I think that its good way to make money.

After doing trading it is not sensible that we have to sell our bitcoins for fiat/usd, but we have to wait with them for more longer and so with that we will also get the profit with the price rise also, we should have to think for long term investment in bitcoin as I think only that is the way to get the profit.

there are two kinds of investment: one is when you invest in bitcoin in short term or long term and sell it as soon as there is a rise to make fiat profit and get out.
and the other is when you invest in bitcoin to gain that profit but also gather more bitcoin for the future to "use" bitcoin directly as a currency.
so in each of these the way you buy and sell is a lot different.

i think how long you hold them depends on how much is your holdings.  If you have a small amount, holding it for a long time is profitable but not that much that would have an impact to you life.  It would be better to trade it actively to get a larger holding then that is the time you need to wait for a long time to encash.

[darklus123]

Well it depends if you are lucky then it would be a short process but most of the miners who holds bitcoin usually aim for a higher profit but would go for a long process so basically  it would always matter on your decisions

[vurasasog]

Well it depends if you are lucky then it would be a short process but most of the miners who holds bitcoin usually aim for a higher profit but would go for a long process so basically  it would always matter on your decisions

I have hold the bitcoin for more than 3 years, I also hold the Monero for more than 2 years. I think it is quite profitable.

[jerowacik]

Well it depends if you are lucky then it would be a short process but most of the miners who holds bitcoin usually aim for a higher profit but would go for a long process so basically  it would always matter on your decisions

basically getting a little bit of bitcoin mining the higher the price of bitcoin. it is because bitcoin is getting harder to come by. we must have some strong financial strength to make trades, with it we can benefit fairly large. as the turmoil increased prices continue to rise bitcoin.

[extrabyte]

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.

In bitcoin saving both can be happened. because bitcoin price is unpredictable. but as I can see the daily usage and people's demand of bitcoin I can say that holding bitcoin will be profitable. I myself taking this risk(it is risk because as I said everything can happen) and I know a lot of people who doing the same.

[Cresciuanto]

to me long term investment is the best and safe investment. while short time investment is always risky in long term investment you do not care for tor the little ups and down and remain calm and confident, while in short time investment you always thinking about the price, some time you start panic selling, and book lost, while in long term invest you just invest the money for some year to do not comes in pressure because of market correction and remain confident.

[richardsNY]

to me long term investment is the best and safe investment. while short time investment is always risky in long term investment you do not care for tor the little ups and down and remain calm and confident, while in short time investment you always thinking about the price, some time you start panic selling, and book lost, while in long term invest you just invest the money for some year to do not comes in pressure because of market correction and remain confident.

Actually, you don't have to choose between having coins for long term holding purposes, and short term purposes. I have started to do both while I used the be solely a holder type. I didn't care about the volatility at all, but I was seeing that I could use it in my advantage to make some decent profits. And so I did. Yes, it's a bit more risky, but if you're willing to take a bit more risk, and know what the risks exactly are, then it's fine.

[lionheart78]

I think holding bitcoin a long time is one of the good way to make money, but there is better way to maximize your earning potential in bitcoin.  First you should be involve in a business venture or trading.  Establishing business and accepting bitcoin will at least give you a profit.  You already have a user base, how to reach  them will be the only problem.  In trading, you can earn by doing day trades if you master how it is done.

[Barbut]

With so many services that just scam people, with so many hackers around that attack exchanges, probably safest way to make profit is to buy bitcoins and keep them on some very safe place.
We are talking about very long term investment, many of us here found out about bitcoins too late people who joined here 7 8 years ago are in good profit already, but here on forum I see many of them are still holding their coins. Cause of all that holding is not good, its probably best way, and most safest way. Every other way is risk for coins, I'm gambler I know that very good.
 

[BitHodler]

With so many services that just scam people, with so many hackers around that attack exchanges, probably safest way to make profit is to buy bitcoins and keep them on some very safe place.
We are talking about very long term investment, many of us here found out about bitcoins too late people who joined here 7 8 years ago are in good profit already, but here on forum I see many of them are still holding their coins. Cause of all that holding is not good, its probably best way, and most safest way. Every other way is risk for coins, I'm gambler I know that very good.
 

I fully agree about holding being the safest way of investing in Bitcoin, but sadly the majority of the people here don't think like that as they consider holding to be very boring and not rewarding.

These are the kind of people that are investing in fishy sites where they are being promised high interest rates. It's pure greed. Greed that will cost them a lot money in the long run.