The goodness of long-term investing in cryptocurrency

[Derrickiell]

Not all cryptocurrencies are suitable for long-term investment. Cryptocurrencies are volatile and carry certain risks. Long-term investment is more suitable for Bitcoin. It will increase in value over time, and holding it for the long term can reduce risk and add higher returns.

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[Chainsmokers]

When investing in cryptocurrency for the long term, it usually implies that even if you bought at the worst possible time and held for a very long time, you still made a profit each year. By simply holding long-term investments.

If you're talking about cryptocurrency in general, then I can say for sure that it doesn't work that way. Most altcoins, even if you hold them for a long time, will not increase their value, but on the contrary may decrease even more in price. For this reason, you should invest in time-tested coins and, first of all, in bitcoin.

Not all altcoins will be suitable for long term investment because sometimes it can make loss,
apart from Bitcoin investing in top coins like Ethereum and BNB being an alternative choice,
The most important thing is to always do your research first.

[FanEagle]

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

I am not saying it is going to be easy or anything like that, but at the  very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

[SirLancelot]

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

I am not saying it is going to be easy or anything like that, but at the  very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

I think what you are saying there is that investors will always think about their assets? Well, why not? It happens especially if someone invest in a highly volatile asset like crypto. We can't help it but worry sometimes. Much more if you risk the money that's not within your capacity but if it's only a small amount then this can be prevented.

In the example that you have given, I don't even think that someone can reach that high ($20k) if they start with $1k only but I believe many of us have sold early before we ever saw that price. That's not wrong than completely missing the selling opportunity. It only becomes wrong if you sell early and then incur a loss.

[Hypnosis00]

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

I am not saying it is going to be easy or anything like that, but at the  very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

It was pretty easy if we have multiple sources of income as it certainly doesn't have any reason to touch our crypto investment and sell them not in perfect time. But based on your cited example, I have to sell my Bitcoin as well. Waiting for more is somewhat called it greediness because having a $19k increase is already huge money and profit that we can't just ignore.

[abel1337]

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

This is the type of holders who regrets in the end. Holding long term is easier than said, It requires a decent decipline to hold for a long time what may ever happens to the original plan. Imagine for those who don't have plan who are trying to hold, These are the type of people who are gotten shaken up by the market when it suddenly dumps big time.

I am not saying it is going to be easy or anything like that, but at the  very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

It was pretty easy if we have multiple sources of income as it certainly doesn't have any reason to touch our crypto investment and sell them not in perfect time. But based on your cited example, I have to sell my Bitcoin as well. Waiting for more is somewhat called it greediness because having a $19k increase is already huge money and profit that we can't just ignore.

This is why we should rely purely on cryptocurrency given that it is mostly a volatile asset and we don't have an assurance that the income we get can feed us everyday or the means of living. Relying on it will most likely put you on many dilemma on selling it on a loss just to sustain yourself. Always stick to your plan if you are confident with it and believing on it. I've been there regretting my past moves by selling and not following my plan.

[KingsDen]

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

I am not saying it is going to be easy or anything like that, but at the  very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

It is not easy to invest for a long time (min 3 years) according to Op. For you to invest in long term purposes means you will fulfill some conditions as;
1. You should be somewhat financially stable such that you will not have to tamper your investment when it's not ripe.
2. You should be holding the right coin, else your investment can disappear into tin air.
3. You should have a good means to save your coins so that you won't be hacked in the end.
4. You need also be patient with your investment.
If you don't fulfill some of theses criteria, you may not be successful in long term investment.

[FanEagle]

Ease of mind is one of the other things. I do not need to worry about the ups and downs, that's good. I have plenty of things in my life, work and real life problems are already taking up 7/24 of my life, sometimes I can't even sleep, my life is not doing so great right now and I am having psychological issues because of that anyway. So, that means if I add the stress of trading altcoins or doing anything about them, that would be even worse and I would feel terrible, I would basically be over the edge at that point.

Hence, having a long term investment where I don't even check the prices is great, I have zero clue how much my portfolio worths today, I literally have no clue what bitcoin worths today, haven't checked in days, that's the great thing about long term investment, it gives me freedom to ignore it.

[Argoo]

Good day to all the community here in this forum, Do you want to know why cryptocurrencies are good for long-term investment? Why is it okay to invest in the long-term and what are the strategies and criteria to choose cryptos that we can invest in?

It is hardly possible to agree with the statement that long-term investment in cryptocurrency is very profitable. This may only be true for Bitcoin and a few top altcoins, but not for the rest of the altcoins. Probably more than 98 percent of the altcoins that I have had since 2017 now are dead and this trend, with minor deviations, continues. In addition, the frequent replacement of tokens, the transition from one platform to another, is very annoying. This means that if certain actions are not taken in time, then the cryptocurrency in our wallet will be absolutely useless.

[Jackl87]

Good day to all the community here in this forum, Do you want to know why cryptocurrencies are good for long-term investment? Why is it okay to invest in the long-term and what are the strategies and criteria to choose cryptos that we can invest in?

I am also the type of guy that is investing into projects and then holding it for at least one year before i think about selling them again. The main reason for that is the fact, that i would have to pay taxes on my profits if i would have sold the tokens or coins before i had them in my wallet for at least 1 year. After i have them 1 year the profits are completely free of taxes.
Still i would have made a good amount of profit, if i would have sold a few tokens even though i did not have them for a full year yet. Even with the taxes, i would have way more money now if i had sold back in may of 2021, but of course it is always obvious now in hindsight but it was not clear that we  would go down so much back then.

[mdzahed134]

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

That's absolutely true, as like i hold a few altcoins for the long term approximately 3-4months but when i have seen the values dropped almost 5x-7x from buy price then i was panic and sold everything with very low price, so it’s really difficult to hold for the long term investment sometimes.

[pantek talacuik]

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

That's absolutely true, as like i hold a few altcoins for the long term approximately 3-4months but when i have seen the values dropped almost 5x-7x from buy price then i was panic and sold everything with very low price, so it’s really difficult to hold for the long term investment sometimes.

It's been guessed that you can't control your emotions to hold it in and that's what everyone is looking for to continue to endure and be patient in facing all of this. So you better learn from what you have done this.