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

[Gloiri]

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?

I think yes it is as long you hold your money you can make more, You have to look at the price when will it go down and when will it goes up . Maybe i should say its depended on your luck.

[TheUltraElite]

-snip-
I think yes it is as long you hold your money you can make more, You have to look at the price when will it go down and when will it goes up . Maybe i should say its depended on your luck.

I think both daily trading and long term holding are important since they have different effects. However if you are busy with work and studies it may not be possible to keep an eye on market all day and trade daily. So for them they should focus on their day jobs and do long term trading.

But then again, seeing the huge rise of bitcoin price in the last decade, I think if anyone had been holding bitcoin for this long they made a huge profit, but I doubt anyone had the patience to hold this long since 2009.

[legendbtc]

It needs time and patience for a long term investments but worth the risk. It's already proven on this years that holding your bitcoin will give you a huge profit. Congratulations for those who hold their bitcoins for a long time, we don't know that this is just the beginning of Bitcoin's Year. It's not too late to buy some bitcoins and hold for a long time and sell it at the right time.

We should not worry about bitcoin. Just be honest, beside the price of bitcoin that tend to up, bitcoin is really usefull and more practical than other payment methods. So I am sure that holding bitcoin is always profitable.

Exactly bitcoin is now moving in right direction so really it a good idea to make huge profit in longer run. Because once many people are keep using the price really jumps, at the same time you need to sell them at right price so that you will make profits from it. In coming days we can use bitcoin for many other day to day usages, so now it is right time to buy and hold bitcoin.

[mrjoy15]

Bitcoin could double in price as fast as it could dump to half what it is now but holding half what you have and cashing out other half for accumulating on any dip makes sense.

Seeing it today on how it moves, I don't think that bitcoin can move to double its price.But if you are going to keep on holding for so many years, the chances of getting profit with it is very possible. There are times that I did became skeptic about holding for a longer time and when I saw that it was effective, I pursue my plan with it.

Exactly i thing, so agree with you.Right now looking out the price of bitcoins it's currently good stage and its upward.That's don't mean Bitcoin's price has more than doubled its price.Having more than doubled need pretty wait a long time actually no idea about that, but I would be happy to see Bitcoin continue its rise.At least if bitcoin price could maintain its upward their chance get a potential profit.

[neonshium]

It needs time and patience for a long term investments but worth the risk. It's already proven on this years that holding your bitcoin will give you a huge profit. Congratulations for those who hold their bitcoins for a long time, we don't know that this is just the beginning of Bitcoin's Year. It's not too late to buy some bitcoins and hold for a long time and sell it at the right time.

We should not worry about bitcoin. Just be honest, beside the price of bitcoin that tend to up, bitcoin is really usefull and more practical than other payment methods. So I am sure that holding bitcoin is always profitable.

well, you are totally right. I don't know about the holding but using bitcoin is very profitable for those who always use bitcoin, use it in trading, in investment and in their project. basically I mean use bitcoin to increase bitcoin. you can hold one bitcoin and hold for years to price increase and you can make 10 btc with that 1 bitcoin in one year. no choice is yours.

You have to manage it well to grow your bitcoins, it is actually easy to grow the value that growing the volume of bitcoins you have. Trading is a good venture but without decent knowledge you would not be able to succeed, just be careful in trading and be clever all the time. There is a need of proper analyses as not everything you read and hear are real, it could be a wrong information feed to you to make a bad decision.

well, all these things you've mentioned are very important for a bitcoin user, if someone really want to be in benefit using bitcoin and want to stay and survive long in bitcoin world than he need to be clever enough and always keep his eyes open and keep them on the market and the scopes, otherwise other will cross him and he'll be getting nothing.

[poetra2501]

i have been researching for that answer for a while now .. and i believe its all about the bitcoin price in the market .. sometimes it goes up and sometimes down .. u just have to be in the right moment to make that profit

yes i also agree with you that long term investment is a good idea. the price of bitcoin is now trading above 1000 USD and we can see that there is a lot of fluctuation in the price of bitcoin any time the price of bitcoin can increase and any time can drop therefore i think the best idea is to hold bitcoin for long term and secure a good profit after some time.

I see, Holding bitcoin for long term is really a good way to make bitcoin,  because the price of the bitcoin tend to rise each year. But it should have enough capital so that its advantages felt. If only got 0.5 BTC and we hold for a year that's just a waste of time. 

i agree with you that holding bitcoin for long term is really a good way for make a big profit and you are right that bitcoin increasing its price too much faster and bitcoin going to higher each year so long term investment is really profitable. 

Yes, of course, but I also think that selling Bitcoin on the right time is difficult
because the price is always staggering. I hope the bitcoin will grow a lot by holding long time
so it will be very profitable.

[mirakal]

i have been researching for that answer for a while now .. and i believe its all about the bitcoin price in the market .. sometimes it goes up and sometimes down .. u just have to be in the right moment to make that profit

yes i also agree with you that long term investment is a good idea. the price of bitcoin is now trading above 1000 USD and we can see that there is a lot of fluctuation in the price of bitcoin any time the price of bitcoin can increase and any time can drop therefore i think the best idea is to hold bitcoin for long term and secure a good profit after some time.

I see, Holding bitcoin for long term is really a good way to make bitcoin,  because the price of the bitcoin tend to rise each year. But it should have enough capital so that its advantages felt. If only got 0.5 BTC and we hold for a year that's just a waste of time. 

i agree with you that holding bitcoin for long term is really a good way for make a big profit and you are right that bitcoin increasing its price too much faster and bitcoin going to higher each year so long term investment is really profitable. 

Yes, of course, but I also think that selling Bitcoin on the right time is difficult
because the price is always staggering. I hope the bitcoin will grow a lot by holding long time
so it will be very profitable.

That is not difficult if you know what you are doing, the price is back but real news inside, you have to know if that news gives a development or that is against bitcoin's progress then make a decision. Timing is very important because we are trading, the price fluctuates much and it gives opportunity to those skilled trader. It could be hard at the beginning but we can learn it if we will pursue.

[Vikingr]

i have been researching for that answer for a while now .. and i believe its all about the bitcoin price in the market .. sometimes it goes up and sometimes down .. u just have to be in the right moment to make that profit

yes i also agree with you that long term investment is a good idea. the price of bitcoin is now trading above 1000 USD and we can see that there is a lot of fluctuation in the price of bitcoin any time the price of bitcoin can increase and any time can drop therefore i think the best idea is to hold bitcoin for long term and secure a good profit after some time.

I see, Holding bitcoin for long term is really a good way to make bitcoin,  because the price of the bitcoin tend to rise each year. But it should have enough capital so that its advantages felt. If only got 0.5 BTC and we hold for a year that's just a waste of time. 

No one waste his time and capital if they will hold their bitcoin for longer o get any amount of profit because the lower and higher profit depends on the capital of the investors if a person have high amount of money then he will like to get a high profit and that can be achieved if he put his money in bitcoin while if a person do not have much money then he will also like to get a smaller profit as t is the nature so he will also get the profit according to his demand.

[poetra2501]

i have been researching for that answer for a while now .. and i believe its all about the bitcoin price in the market .. sometimes it goes up and sometimes down .. u just have to be in the right moment to make that profit

yes i also agree with you that long term investment is a good idea. the price of bitcoin is now trading above 1000 USD and we can see that there is a lot of fluctuation in the price of bitcoin any time the price of bitcoin can increase and any time can drop therefore i think the best idea is to hold bitcoin for long term and secure a good profit after some time.

I see, Holding bitcoin for long term is really a good way to make bitcoin,  because the price of the bitcoin tend to rise each year. But it should have enough capital so that its advantages felt. If only got 0.5 BTC and we hold for a year that's just a waste of time. 

i agree with you that holding bitcoin for long term is really a good way for make a big profit and you are right that bitcoin increasing its price too much faster and bitcoin going to higher each year so long term investment is really profitable. 

Yes, of course, but I also think that selling Bitcoin on the right time is difficult
because the price is always staggering. I hope the bitcoin will grow a lot by holding long time
so it will be very profitable.

That is not difficult if you know what you are doing, the price is back but real news inside, you have to know if that news gives a development or that is against bitcoin's progress then make a decision. Timing is very important because we are trading, the price fluctuates much and it gives opportunity to those skilled trader. It could be hard at the beginning but we can learn it if we will pursue.

We know, in trading we must be able to read the chart. Because by reading the chart we
will know the direction of the market price. But I think it's not easy, it's need a process with
a long time so that we can afford for it.

[dhampir-D]

i have been researching for that answer for a while now .. and i believe its all about the bitcoin price in the market .. sometimes it goes up and sometimes down .. u just have to be in the right moment to make that profit

yes i also agree with you that long term investment is a good idea. the price of bitcoin is now trading above 1000 USD and we can see that there is a lot of fluctuation in the price of bitcoin any time the price of bitcoin can increase and any time can drop therefore i think the best idea is to hold bitcoin for long term and secure a good profit after some time.

I see, Holding bitcoin for long term is really a good way to make bitcoin,  because the price of the bitcoin tend to rise each year. But it should have enough capital so that its advantages felt. If only got 0.5 BTC and we hold for a year that's just a waste of time. 

I think the most important thing is not to lose the initial investment, and make profit from it. Even with this amount of Bitcoin, you can have a good gain. But if it were me, I would try to accumulate a little more, because I see that in that year there may be advances that will be rare to see again, such as the development of applications to make the use of Bitcoin even better, and there is even the possibility of scaling issue is resolved.

[avikz]

certainly it is, holding bitcoin is one of the best investment decision you can take but it has to be for long time. If you are trying to make quick profit, try trading instead which may fetch you some quick and good amount of profit. However, if you can just hold your bitcoins for another 3-5 years nnd also keep accumulating in the meantime, It can make your rich for sure.

I had accumulated a decent amount of bitcoin when the price was standing at $450. So you can easily understand that how much profit I have made just by holding my bitcoin idle. So the answer is Yes, you can make a good amount of money by just holding bitcoin for long term.

[Victorycoin]

Something worth considering in holding Bitcoin for a long time is that this technology is still maturing and a whole lots of things might be thrown over board before getting there, so the safer side is to not start seeing it as buy and forget, till whenever scheme. Profits are also possible along the way and over time, those add up, except necessary skills and money management is lacking.

[hurain]

I think it's good way for Beginner's who dont know about trading or other earning method. And this is also not riskfree because none can assure that bitcoin price will only rise, it could be go down also.

i think it is also good for those people who do not have any experience in short term investment. in current time the price of bitcoin is trading above 1000 $ therefore long term investment is a safe investment as compare to short term investment. because in short term investment there is more chance that the price of bitcoin will decrease and you can lose some bitcoin. while in long term investment we ae pretty sure that after some downfall the price of bitcoin will start raising again.

[Superzpay]

I think it's good way for Beginner's who dont know about trading or other earning method. And this is also not riskfree because none can assure that bitcoin price will only rise, it could be go down also.

i think it is also good for those people who do not have any experience in short term investment. in current time the price of bitcoin is trading above 1000 $ therefore long term investment is a safe investment as compare to short term investment. because in short term investment there is more chance that the price of bitcoin will decrease and you can lose some bitcoin. while in long term investment we ae pretty sure that after some downfall the price of bitcoin will start raising again.

In current time any type of investor will get the profit if he /she will do short term investment because the fluctuations range are higher and buying in low and selling in high will give them a better profit within shorter time period then along with that investing in bitcoin for long term is much better as  if someone will invest for long term then he will be millionaire in the coming year.

[upsidedown75]

maybe... But btc is famous because of its wavy motions. If you just hold your btcs doing nothing, you may not gain enough. Its better to try some exchanges / trades etc

Technically what you are saying is wrong. If you currently see the price it has increased from 700$ to 1000$ in just 1-2 months. So you still think that in the future the price won't go up??
I would recommend all the people who currently have btc to hold it and not sell it because it has lot's of potential in the coming months.

I think you are right to some extent that the beauty of the bitcoin is that its price is not fixed and most of the time its price jumps to the next level. That’s the main reason most of the investors are interested in adopting bitcoins then it is obviously a good way to make more money by simply saving it some longer haul. No doubts on it.

[BitFinnese]

maybe... But btc is famous because of its wavy motions. If you just hold your btcs doing nothing, you may not gain enough. Its better to try some exchanges / trades etc

Technically what you are saying is wrong. If you currently see the price it has increased from 700$ to 1000$ in just 1-2 months. So you still think that in the future the price won't go up??
I would recommend all the people who currently have btc to hold it and not sell it because it has lot's of potential in the coming months.

I think you are right to some extent that the beauty of the bitcoin is that its price is not fixed and most of the time its price jumps to the next level. That’s the main reason most of the investors are interested in adopting bitcoins then it is obviously a good way to make more money by simply saving it some longer haul. No doubts on it.

Aside from that Bitcoin is destined to deflate, meaning it will have less number of coins in the future because some might lost their private key to access Bitcoin.  Other might fail to retrieve the private key and then forgot their password.  So with this Bitcoin is getting rarer and rarer by day making its price increase.

[cryp24x]

maybe... But btc is famous because of its wavy motions. If you just hold your btcs doing nothing, you may not gain enough. Its better to try some exchanges / trades etc

Technically what you are saying is wrong. If you currently see the price it has increased from 700$ to 1000$ in just 1-2 months. So you still think that in the future the price won't go up??
I would recommend all the people who currently have btc to hold it and not sell it because it has lot's of potential in the coming months.

I think you are right to some extent that the beauty of the bitcoin is that its price is not fixed and most of the time its price jumps to the next level. That’s the main reason most of the investors are interested in adopting bitcoins then it is obviously a good way to make more money by simply saving it some longer haul. No doubts on it.

We can also consider several funds coming in to bitcoin for the increase in price.  Like what is scheduled next month, the decision about the ETF, I hope it is approved so that Bitcoin will have another batch of fresh funds to come in.

[richardsNY]

maybe... But btc is famous because of its wavy motions. If you just hold your btcs doing nothing, you may not gain enough. Its better to try some exchanges / trades etc

Technically what you are saying is wrong. If you currently see the price it has increased from 700$ to 1000$ in just 1-2 months. So you still think that in the future the price won't go up??
I would recommend all the people who currently have btc to hold it and not sell it because it has lot's of potential in the coming months.

I think you are right to some extent that the beauty of the bitcoin is that its price is not fixed and most of the time its price jumps to the next level. That’s the main reason most of the investors are interested in adopting bitcoins then it is obviously a good way to make more money by simply saving it some longer haul. No doubts on it.

We can also consider several funds coming in to bitcoin for the increase in price.  Like what is scheduled next month, the decision about the ETF, I hope it is approved so that Bitcoin will have another batch of fresh funds to come in.

The ETF once approved can turn out to be a trigger of another rally where it might push the price past the all time high. However, it can also initiate a dump as certain traders might get disappointed in case the ETF doesn't get approved. I like to keep all situations wide open where I have different plans for each possible outcome. Also worth mentioning is that the Winklevoss isn't the only Bitcoin ETF that we will hear about this year. It's a great tool to attract professional money from institutions in the long term. Growth, growth and even more growth if these ETFs turn out to become reality.

[BitcoinPanther]

maybe... But btc is famous because of its wavy motions. If you just hold your btcs doing nothing, you may not gain enough. Its better to try some exchanges / trades etc

Technically what you are saying is wrong. If you currently see the price it has increased from 700$ to 1000$ in just 1-2 months. So you still think that in the future the price won't go up??
I would recommend all the people who currently have btc to hold it and not sell it because it has lot's of potential in the coming months.

I think you are right to some extent that the beauty of the bitcoin is that its price is not fixed and most of the time its price jumps to the next level. That’s the main reason most of the investors are interested in adopting bitcoins then it is obviously a good way to make more money by simply saving it some longer haul. No doubts on it.

We can also consider several funds coming in to bitcoin for the increase in price.  Like what is scheduled next month, the decision about the ETF, I hope it is approved so that Bitcoin will have another batch of fresh funds to come in.

The ETF once approved can turn out to be a trigger of another rally where it might push the price past the all time high. However, it can also initiate a dump as certain traders might get disappointed in case the ETF doesn't get approved. I like to keep all situations wide open where I have different plans for each possible outcome. Also worth mentioning is that the Winklevoss isn't the only Bitcoin ETF that we will hear about this year. It's a great tool to attract professional money from institutions in the long term. Growth, growth and even more growth if these ETFs turn out to become reality.

I agree not only it will bring fund from the approved ETF, but it will also boost the confidence and trust of people to Bitcoin.  We can really expect a rally of Bitcoin here because funds from private investors that was in doubt this previous years will change its POV towards BTC and invest.

[TheUltraElite]

Something worth considering in holding Bitcoin for a long time is that this technology is still maturing and a whole lots of things might be thrown over board before getting there, so the safer side is to not start seeing it as buy and forget, till whenever scheme. Profits are also possible along the way and over time, those add up, except necessary skills and money management is lacking.

I agree with you point - it is still considered that bitcoin is in a beta stage even today after several years and should be handled with caution. But then many people have accepted it and its prices are rising. This shows that people are willing to invest in it and the miners are thus dumping more and more according to the demands.

Again traders are the ones who are making the economy worth investing in.