What is your plan with Bitcoin?

[livingfree]

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

The same plan as you do. Not gonna hurt if I'll wait for that time to come since we're already here and we understand that the volatility of bitcoin is also where the opportunity is coming from. It will certainly take time and it won't be that easy because we might be tempted to sell already once we see bitcoin already reached 6 digits like $100,000, be it in euro or dollar.

Big or small amount in accumulation and continuous DCA, it doesn't matter. What matter is that you're consistent in doing it and there's always a gain on how many sats you're holding in your stack.

[AB de Royse777]

In the future, countries where you can travel with Bitcoin without a visa will grow, that's my dream

It's going to require few centuries. Not something that is going to happen in the next few decades.

PS: Don't spam. Looking at your history I see you are making too many posts and most of them could be seen as spamming. If you are really looking to graduate in bitcoin then at least do not get banned from this forum. You will learn a lot if you can stick to this community.

[Oneandpure]

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

You have bigger expectation by holding bitcoin until reach higher price £500k - £1m and your investing in bitcoin at February when price under $17,900. But as beginner will have bigger expectation with bitcoin will reach higher price, but I have been 5 years in cryptocurrency give opinion taking profit when bitcoin reach higher price, maybe if you invested price still under $17,900 you have opportunity taking profit last several week when bitcoin almost reach above $24,000.  But keep holding exactly bitcoin drop right now to $19,000 and you have missed bigger opportunity for getting much profit. Lately you can buy back again after take profit when bitcoin almost above $24,000 because bitcoin price drop under $18,000 last several week ago.

[Yatsan]

In the future, countries where you can travel with Bitcoin without a visa will grow, that's my dream

Man that would be the dream! If this happens by the time BC gets to $500k, ill buy a few properties and sit on the beach all day.

Hope it would be as easy at it sounds. But if this thing would happen, be sure that you have an amount parallel with your desire.

but i would rather be trading though than keeping it on a cold wallet.

Trading is not easy, you may have a good knowledge of the market but those who do not understand this crypto currency will loss a lot when trading for the first time.

Unfortunately, knowledge won't be enough in trading; it would be an advantage but it won't guarantee profit always. Even skilled traders suffer from losses, simply becaude the market is unstable in nature. TA's won't be a help whenever the market is going "crazy". Strategies would also help but for sure, luck will play a huge role in order to be successful in traing or even with other investments.

[Ayers]

Hi all,


I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

while predicting the bitcoin price or predicting the market will go up or down is impossible, i think we will have plenty of time to accumulate as many bitcoins as we can
as predicted by the majority, the next bull run will happen after the halving, which means it will happen in late 2024 early 2025, so we have plenty of time to fill our pockets with bitcoin
still the old saying, it's just a prediction and not a certainty so take advantage now as bitcoin is also falling sharply in price, continue dca as your original plan

[mk4]

Unfortunately, knowledge won't be enough in trading; it would be an advantage but it won't guarantee profit always. Even skilled traders suffer from losses, simply becaude the market is unstable in nature. TA's won't be a help whenever the market is going "crazy". Strategies would also help but for sure, luck will play a huge role in order to be successful in traing or even with other investments.

Really though, as with cryptocurrencies, the trick is to not TA but instead trade narratives and be early on them. e.g. Being early on "GameFi" in 2020-2021 and such. People who bought AXS very early on made a huge killing.

[goldkingcoiner]

My plan is to never sell and continue to be part of Bitcoin worldwide adoption as the global money. I do plan to use some of the Bitcoin to buy popcorn which I will eat while watching fiat become worthless and banks burn into ashes.

Why anyone would have a plan that includes cashing out back into fiat is a huge mystery to me. That just tells me that those people do not understand Bitcoin and will lose out big time. And they will have deserved it.

My main plan is to help Bitcoin adoption move along by helping market Bitcoin as much as I can. Hopefully you guys join in on this plan as well, instead of worrying about how much worthless fiat you can pump out of Bitcoin in the short term.

[Davidvictorson]

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

I like you plan as well as what your hope is for Bitcoin. Waiting Bitcoin getting to £500k - £1m is going great but not my plan. It is unpredictable. I love the current price of Bitcoin and I low key pray it remains this way for a long time. I DCA monthly and weekly because it is the  most convenient for me. Monthly via salary. Another way I stack up bitcoins is through my campaign earnings. This is weekly.

[Detritus]

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

OP, if a newbie views this Post, they may Wonder what you mean by DCA (Dollar-cost averaging) and how you own the 2% you talked about. I think you should have been more specific about the Dollar cost averaging since some newbies are looking out to learn.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

  Your goal is what most investors also desire but due to human need at times and some challenges, we may have to sell some of our holdings in order to solve some pressing needs. It might really take long for Bitcoin to reach the goal price but if you must hold till then, I have one advice for you.
 1. Also hold some fiat so that you don't touch your
BTC holding when needs arise.
 2. You can take fiat loan and use your BTC holding as coleteral
 As for me, I plan to hold till $100k above. So am making use of the above stated points so that I don't get to spend a lot of my holding before time.

[m2017]

Hi all,

I started investing in crypto February this year but due to the high price of Bitcoin did not start investing in it until mid June just after the crash.

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

And you turn out to be a sly one if you didn't succumb to the temptation to buy bitcoin in the winter and waited for the price to fall in the summer. Undoubtedly, you have the makings of a reasonable investor who first of all evaluates profitability and doesn't allow emotions to act rashly.
 
I think by the time bitxoin hits £500k - £1m, inflation will just skyrocket and "eat" up a fair share of your profits. How will you proceed if the bitcoin to that price is not reached within the next 20, 30, 40 and more years? Are you willing to wait that long for the sake of waiting for £500k - £1m?

[piebeyb]

get into the habit of paying in installments to buy bitcoins when the market is bear like now, usually you won't have to wait long for the next 3 or 4 years to enjoy your profits, now I'm more interested in holding all my bitcoins until the price hits $100k as I expected 2021 ago but not as expected, so I have to wait a few more years now

[fiulpro]

The fact is, there are certain things that you can do to collect bitcoins, some of the people focuses on collecting the bitcoins through things like signature campaign and stuff and certain people usually like to sell their services perse, it's an excellent option to hold your coins but you should also focus on your portfolio as well, which means that you can also try and invest in other Altcoins what that would do is to give you more opportunities and everyone knows that the price of bitcoins generally increase by the end of October, till Christmas thus I do think that if you are able to see a rise of 5-10% you would be able to encash and buy at a lower price.

[jesselui]

The important thing is how we evaluate this period. If you trust your analysis and research, you can buy bitcoin from a safe zone. But remember, in the current situation this is pretty risky. But my plans will be in this direction.

[ShowOff]

Today the biggest plan I have is to take profit when bitcoin hits $100K in the future. I've saved up and wouldn't spend any more bitcoins if it wasn't in an emergency, this is hope as I have some fiat reserves in case I need them. But I don't mind using this reserve fund to reinvest bitcoin if the inflation we're experiencing now improves in the years to come. I still hope that there will be a lot of bitcoin price decline during this year and next year, this will give me a chance to buy it.

But no matter how good the plans we make today, it really depends on how consistently we want to always do it. It is always possible to sell at any time if at that time we need funds urgently instead of making a bank loan.

[darkangel11]

I don't buy anymore because I don't have the money to do it. The growing prices of everything around me forced me to spend more than I thought I'd have to at this time. In a way I keep buying because I don't exchange what I earn from signature campaigns, which means I indirectly DCA into bitcoin.

I still have my coins from 2014, so we could say I have more than enough to be rich if we ever hit another ATH. My goal is to keep bitcoin as long as I can, possibly give it to my kids when they grow up.
My goal is 100k USD which is the point where I'll take some profit and have some fun. Maybe buy a sailboat and spend a few years traveling. Whatever happens I'm never going to sell below 20k USD. If I won't be able to see it succeed, maybe others who inherit my coins will.

[justdimin]

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it

You have made a brilliant decision to invest in bitcoin, Bitcoin will definitely reach £500k - £1m one day but you should be ready to hold for long time, am sure nobody can predict when the price will get their but if you have patience then HODL and you will be proud of yourself one day.

I am sure that it will reach 500k-1 million "one day" but we shouldn't expect that to happen anytime soon. I mean it will probably happen in the future but it is not going to be anytime today neither. This is why we shouldn't be really expecting the price to be like that when investing today, just hope for a 40k for example which would be 2x and that is good enough to be fair.

I am not saying it is going to be a bad idea, all I am saying is that it is going to be a decent one that would go on for a while. It is going to be a problematic thing if you have expectations, have zero expectation if you can, buy bitcoin and forget about it and be rich eventually.

[cheezcarls]

I just keep buying and holding for now. In other words I do DCA (dollar-cost averaging) with my extra "not beer" money every month that I have. To be honest, I'm at a loss because from May 2022 until now I keep buying Bitcoin when they are like $30k, $20k, $21k and $23k respectively.

Now it's hanging above $19k, I would say that it might go lower before the Ethereum merge. But I don't really mind at all, as I am thinking long term by accumulating wealth overtime. If it takes me years, that's fine. Coz' I don't want to make the same mistake again ignoring Bitcoin like years ago.

[Wakate]

Hi all,

I started investing in crypto February this year but due to the high price of Bitcoin did not start investing in it until mid June just after the crash.

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

This is one of the best time to invest in Bitcoin since the price is down now and we can always buy at an affordable price that really worth it before the cryptocurrency market will continue the bull trend coming as time from now. W have the time to accumulate as much coin that we want now and no one know when the next bull run will be.
Since the price is down, we just don't need to bother about what happens even though the price keep going down after now. We need to grab the opportunity now of investing as much as we can before everything goes bull.

[RockBell]

Since I was introduce to bitcoin holding as been the goal there is opportunity for you to buy more since be price have dropped due to bear so you add to your current portfolio it helps you , there is individual plan and when it comes to trading there are different ways which crypto is traded generally  but as for me I will hold for raining days I love your target one of a quality of a good trader is to have a target when to buy and when to sell I love that cause it gives you more experience and helps in bear market. And avoid always looking at charts This period it safes you from selling.

[CryptoBuds]

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

You have bigger expectation by holding bitcoin until reach higher price £500k - £1m and your investing in bitcoin at February when price under $17,900. But as beginner will have bigger expectation with bitcoin will reach higher price, but I have been 5 years in cryptocurrency give opinion taking profit when bitcoin reach higher price, maybe if you invested price still under $17,900 you have opportunity taking profit last several week when bitcoin almost reach above $24,000.  But keep holding exactly bitcoin drop right now to $19,000 and you have missed bigger opportunity for getting much profit. Lately you can buy back again after take profit when bitcoin almost above $24,000 because bitcoin price drop under $18,000 last several week ago.

The volatility and profit you are talking about is for day traders and in the short term it is not suitable for those who decide to hold long term. You cannot predict bitcoin price and the increase from $17.9k to $24k is not a big increase, too small for long term plan so too risky to trade.

If you buy at 17.9k and sell at 24k then yes you have made a profit but if bitcoin doesn't drop but continues to rise to 30k$, 40k$ then you obviously lost your chance to own bitcoin cheaply.

His target is 500k, this is a huge number and the profit is huge, so don't risk trading short term but focus on buying, buying, whenever there is a chance buy bitcoin.