Ruttoshi (OP)
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Baba God Noni
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September 19, 2023, 05:09:51 PM |
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As a bitcoin investor, there are some challenges that can make us unable to invest in a long term due to some certain reasons.
Lack of income If you want to invest in bitcoin for a long term, it is important that one should have a source of income which will enable him use some percentage from his income, let me say like 10%. This will enable the investor to be able to DCA with a particular amount regular, and will lead to increase in his bitcoin portfolio, so that during the long run, he can have a significant amount, which he can take profit after the long run when bitcoin has reached his price target. When you don't have a job or a mean of income, this will totally kill your dreams of reaching your bitcoin target. Some people after acquiring bitcoin to an extend, they quit their jobs that pays them, which they used part of it for investing and believe that the price of bitcoin will keep on pumping to survive them, this is another great mistake some newbies does because we need fiat currency if we are investing into bitcoin for our daily use.
Lack of preparation : In whatever investment one wants to go into, it is good that you prepare yourself very well with the knowledge that you have acquire so that you wouldn't be trapped at the middle of everything and go back to level zero. Bitcoin investment needs a proper insight to know how much fiat funds that you have available at even given period of time, which can be used for an emergency needs, so that you don't go back and sell your bitcoin when you don't have fiat on you anymore. In this one needs to know how much income that you earn, and what type of strategy will fit into your cash inflow, either DCA, lump buying or buying at the dip, or rather still using all method based on the level of funds in your possession at that time.
Lack of knowledge : Knowledge is power and leads to one success in whatever he is doing. A bitcoin investor needs the knowledge of bitcoin first before jumping into investing. This will enable him to be able to know the price movement of bitcoin and not to panic and sell, when he sees a slight change in the market or hear any bad new that will affect the price of bitcoin to drop drastically. This is also enable him to know the right time to buy and sell without regrets.
Trading : Trading is like a distraction to long term hodli because you will be busy thinking of making daily income and not having plans to hodli for long forgetting that long term holders benefits more that traders in the long run. Also due to the unpredictable price of bitcoin, it is very possible that you will run at loss, especially when you are a newbie because hodli doesn't need any skills but discipline, while trading needs skills and market strategy. You will be open to loss more of your bitcoin to trading than holding because you might end up making the wrong decision.
Sickness : This is another factor that can make a bitcoin investor not be hodli for long. You will notice that there are some sickness that will make us not able to go to work anymore due to its critical condition. One will not be able to earn anymore but will need to take care of himself and this will make him go and sell his bitcoin. It is better to use your bitcoin to take care of yourself and become healthy rather than die and leave your bitcoin in your wallet.
One source of income : This happens to those people that their earnings is not big, but could invest in bitcoin from their income Some investors due to hardship from inflation might not have enough money like they use to have to take care of their important needs and families,because if this their bitcoin investment will be tampered. All that they have bought will be sold off at a price that is not their will. If you find yourself in such situation, it is good to look for another job to add to the one to increase your income so that your bitcoin dreams wouldn't be shattered by inflation.
You can add yours to it as I will stop here. Let's discuss.
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BlackBoss_
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Rollbit is for you. Take $RLB token!
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September 20, 2023, 04:02:07 AM |
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Invest with what you afford to lose. It means you should never use all money you have for investment. So in emergencies like sickness, lose jobs, you will have other money like savings to use and don't touch your investment part.
With savings for emergencies, at least you won't immediately touch your investment part to have money. After a while, hopefully you will improve your financial situation with new jobs, get better health.
If you invest all money, in emergencies, you have to sell your investment assets even you don't want to sell or even you know you have to sell it with loss.
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Mayor of ogba
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stead.builders
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September 20, 2023, 05:25:28 AM |
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Lack of income If you want to invest in Bitcoin for the long term, you must have a source of income that will enable you to use some percentage of your income, let me say 10%. This will enable the investor to be able to DCA with a particular amount regularly and will lead to an increase in his bitcoin portfolio so that during the long run, he can have a significant amount, which he can take profit after the long run when bitcoin has reached his price target. When you don't have a job or a means of income, this will kill your dreams of reaching your Bitcoin target. Some people after acquiring bitcoin to an extent, quit their jobs that pay them, which they used part of it for investing and believe that the price of bitcoin will keep on pumping to survive them, this is another great mistake some newbies make because we need fiat currency if we are investing into bitcoin for our daily use.
Fomo is one of the things that make some people who are not financially stable invest in Bitcoin without proper thinking and strategy because they don't want to miss out on the people who hold Bitcoin. Don't invest in Bitcoin if you know you don't have any source of income because you will end up selling your Bitcoin at a low price when hunger hits you and there is no other money with you to feed, you will have no choice but to sell your Bitcoin to settle your stomach. Another thing I think that makes some people sell their Bitcoin is the lack of "Bitcoin fundamentals". When people lack Bitcoin fundamentals and they go into investing in Bitcoin, when there is a price drop in Bitcoin they will be afraid that their money is going to zero, and with this fear, they will be pushed to sell their Bitcoin to recover part of their money before it will go to zero.
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Doan9269
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September 20, 2023, 02:14:55 PM |
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Snipped It's a pity that as many as possible are the challenges that can lead us to release what we have hodl when tge situation turns around against our wish that we have to release instead of holding the more, most of these are as a result of unforseen circumstances that are not negligible forus to do without, while some have been that lucky that they always hold their investment till when it is due for sell, no matter how dip the market is or how they have been obligated for a release of asset.
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🎁 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . 375% | 200 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | 🛞 | ☆ | | ☆ | 🛞 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀ .U P T O . ▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .300€ + 50 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .F R E E S P I N S . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | 🎁 | |
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mvdheuvel1983
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September 20, 2023, 02:37:21 PM |
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You can add yours to it as I will stop here. Let's discuss.
Wars and conflict can prevent an individual from hodling. If war or conflict broke out in the country in which you reside in you may be unable to hold bitcoin for a long time because of the humanitarian crisis that may arise during this time and you may be forced to sell your bitcoin to resolve it. Natural disasters: some weeks ago the country of Turkey was hit by an earthquake. This may be one of the challenges that can deprive a person from holding bitcoin for long-term. When natural disasters strike it leaves people devastated both psychological e and financially thereby affecting their determination or ability to hold for long term.
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Lida93
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September 20, 2023, 02:51:49 PM |
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Sickness : This is another factor that can make a bitcoin investor not be hodli for long. You will notice that there are some sickness that will make us not able to go to work anymore due to its critical condition. One will not be able to earn anymore but will need to take care of himself and this will make him go and sell his bitcoin. It is better to use your bitcoin to take care of yourself and become healthy rather than die and leave your bitcoin in your wallet.
This is a phenomenon that's out of our control. Just like natural disaster that can dwindle the economy of a country same is likened to sickness in a holder's life. We shouldn't never hesitate to withdraw from our HODLing to use in taking care of our health. We can always start again after we are well and strong. There's no pride in leaving yourself sick to death just to prove you can hodl even in dangerous circumstances. One source of income : This happens to those people that their earnings is not big, but could invest in bitcoin from their income Some investors due to hardship from inflation might not have enough money like they use to have to take care of their important needs and families,because if this their bitcoin investment will be tampered. All that they have bought will be sold off at a price that is not their will. If you find yourself in such situation, it is good to look for another job to add to the one to increase your income so that your bitcoin dreams wouldn't be shattered by inflation.
With the high rising inflation having one source of income to meet your bitcoin target can be straining if you don't cut down your needs you can't meet up. To bolster your plan you need to work with the income size you have, you can't be aiming higher than your income you are bond to crash if you do it that way.
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Broadanbig
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September 20, 2023, 03:03:40 PM |
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I understand that in some cases unforseen circumstances arises which results or needs immediately attention. In this case no one would need to fall back to his or her savings for a rescue which actually that is the real reasons for savings. The essence of savings is for situations of this nature and when it arises that one needs urgent attention like this nothing should deter them because at that point in time only their savings could rescue them. I have heard experience of this nature thrice and it came up so impromptu that I had no option than to sell my assets and lucky enough what I had in my assets savings was enough to cover my needs that came up as an emergency but as time went on I was able to reinvest as I had enough to do so. That was my experience. When it in has to do with life and others, in one would need be sensitive to respond immediately irrespective of how much assets you have or the nature or situation of things. Life is precious and there is no second life. So make sure you sort out things if it happens to be an emergency situation.
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CryptopreneurBrainboss
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September 20, 2023, 03:13:51 PM |
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One source of income : This happens to those people that their earnings is not big, but could invest in bitcoin from their income. One source of income shoudn't deprive you from investing in Bitcoin and holding it for long. It only depends on how well your planning is. When you're receiving a low salary, don't be greedy to invest more than you can afford to lose that you'll run out of money to use for your wellbeing. Invest only spare money from that one source of income and you won't have issues. When you receive your salary, take care of all the necessary things first then keep emergency fund before taking our some part of the money for your investment plan which should be DCA. When you do this you won't be finding yourself in financial difficulties frequently selling your Bitcoin investment. Lack of income If you want to invest in bitcoin for a long term, it is important that one should have a source of income which will enable him use some percentage from his income, let me say like 10%. This will enable the investor to be able to DCA with a particular amount regular, and will lead to increase in his bitcoin portfolio, For this I would have said, having a reliable source of income makes it possible for you to hodl because you won't have a need to sell your investment because you have a job that can take care of majority of your needs. A common mistake most newbies make when they want to invest in Bitcoin is they think they can rely on the profits they'll be making from Bitcoin and some of them quit their jobs after making some big profits. They decide to go fully into investment in Bitcoin but doing this is a risk because during the bear market that the market isn't moving, it'll become a problem to be able to keep holding when you'll be in need of cash.
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bhadz
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September 20, 2023, 03:32:23 PM |
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All of those negative factors that will stop you from investing in the long run can be beaten by strong will. Yes, that's it. Because when you're strong willed, you're going to do everything that you can because you're believing on what you're foreseeing to this market. All of those can be learned expect from sickness which we can't avoid and we're all going to be sick no matter how healthy we are. That's why you need to have a life work balance because it is an essential thing to be living through that. At the end of the day, you will have to deal with yourself and other factors whether you want to stay in the long term or you're going to give up because those factors were said so to stop you.
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TravelMug
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September 20, 2023, 06:18:36 PM |
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And I guess there are also another reason, if you are into gambling. As we all know that gambling is one of the first use case of bitcoin, i.e. that's why we have a lot of crypto online casinos right now and there are a billion dollar business.
With that, maybe some of us here who invest but then again become an addicted gambler might be putting their holdings into crypto gambling and losing their holdings.
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iBaba
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September 20, 2023, 06:34:27 PM |
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This topic about investing in Bitcoin cannot be overstated. The reason why it keeps coming up shows the level of interest people have over the digital currency. What I would not stop talking about every time is the need for us to also focus on the other side of the investment i.e., the loses that you are likely to encounter so that it will prepare you ahead of your investment plans.
I will also advise anyone who has the plan of investing in Bitcoin to also do more of findings and research on the market flow and trends and how the system has performed over the years. You should also know what your calculated risks are through risk assessments and prepare your self ahead of any future circumstances.
I will also advise any investor to weigh their investment capacity, in terms of the type of business they do, their inflows and outflows and what they have as a capital to invest. While you're putting everything into cognizant, don't forget to invest with little, even when you can afford more, so as to test the market.
In the end, avoid investing all the capitals you have gathered and make sure you have some cash handy for contingencies.
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BIT-BENDER
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September 20, 2023, 06:47:25 PM |
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Some of these aren't challenges like trading, you can still be a trader and still also be a long term Bitcoin holders, I don't think hodling mean you should give up your interests in trading.
As a long term holder patient is most important you can split your investment plans into two one for holding the other for trading, some successful traders actually use profits made from trading to increase the amount of Bitcoin they hold.
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🎁 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . 375% | 200 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | 🛞 | ☆ | | ☆ | 🛞 | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . | ▀▀▀▀▀▀▀▀▀▀▀▀ .U P T O . ▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .300€ + 50 . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ .F R E E S P I N S . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | 🎁 | |
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Obari
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September 20, 2023, 08:23:46 PM |
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I'm not a fan of very long articles like this except in some very crucial matters but I didn't actually read through all the detailed explanations you gave but I would say that all the description and headings and list you gave were very correct and one major reason why people would barely hold is because of having just a single source of income and another thing is unforeseen circumstances as well as unbudgetted expenses are very key in depriving holders from holding for a long term.
Op you did a great job but I think you should also consider making your writings brief and more precise as that will increase the zeal to wanting to read your post more.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
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Smartvirus
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September 20, 2023, 11:59:30 PM |
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Some of these aren't challenges like trading, you can still be a trader and still also be a long term Bitcoin holders, I don't think hodling mean you should give up your interests in trading.
Good point. The idea to hodling is not having to spend and spend in terms of you having to exchange the coins for fiat or hvaing it involved in some deal that, you wouldn’t get back your bitcoins. Trading in most cases still leaves you with your bitcoins and you would be hodling something of great value as well. Obviously, some of these reasons you’ve given do apply but, most of what I would like to say is that, the needs of a person when you don’t have an alternative source of income or satisfying your human wants makes selling your bitcoin to fill in for that want more easy. Yo be able to hodl, you need another source of income to fill in your needs and wants. Hodling isn’t a most but, could be a necessity when you seek to get some profit through time without actively taking risk by trading.
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letteredhub
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stead.builders
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September 21, 2023, 02:56:10 AM |
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Some of these aren't challenges like trading, you can still be a trader and still also be a long term Bitcoin holders, I don't think hodling mean you should give up your interests in trading.
Obviously, some of these reasons you’ve given do apply but, most of what I would like to say is that, the needs of a person when you don’t have an alternative source of income or satisfying your human wants makes selling your bitcoin to fill in for that want more easy. Yo be able to hodl, you need another source of income to fill in your needs and wants. Hodling isn’t a most but, could be a necessity when you seek to get some profit through time without actively taking risk by trading. The whole idea of hodling is to avoid the risk and the technicalities associated with trading and hodling becomes easy to achieve when there's a satisfying alternative source's of income and you project one of those income source for your hodling while the other income sources fill in for your daily needs and any emergency that may erupt. It is true that hodling isn't a must but it's actually a necessity for those that can't trade but needs to make profit with bitcoin all they could do is to ju hodl and patiently wait for the right time in a bull market or the halving, stead of having to forcefully trade and then losing your money.
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tech30338
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Defend Bitcoin and its PoW: bitcoincleanup.com
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September 21, 2023, 03:26:46 AM |
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As a bitcoin investor, there are some challenges that can make us unable to invest in a long term due to some certain reasons.
Lack of income If you want to invest in bitcoin for a long term, it is important that one should have a source of income which will enable him use some percentage from his income, let me say like 10%. This will enable the investor to be able to DCA with a particular amount regular, and will lead to increase in his bitcoin portfolio, so that during the long run, he can have a significant amount, which he can take profit after the long run when bitcoin has reached his price target. When you don't have a job or a mean of income, this will totally kill your dreams of reaching your bitcoin target. Some people after acquiring bitcoin to an extend, they quit their jobs that pays them, which they used part of it for investing and believe that the price of bitcoin will keep on pumping to survive them, this is another great mistake some newbies does because we need fiat currency if we are investing into bitcoin for our daily use.
Lack of preparation : In whatever investment one wants to go into, it is good that you prepare yourself very well with the knowledge that you have acquire so that you wouldn't be trapped at the middle of everything and go back to level zero. Bitcoin investment needs a proper insight to know how much fiat funds that you have available at even given period of time, which can be used for an emergency needs, so that you don't go back and sell your bitcoin when you don't have fiat on you anymore. In this one needs to know how much income that you earn, and what type of strategy will fit into your cash inflow, either DCA, lump buying or buying at the dip, or rather still using all method based on the level of funds in your possession at that time.
Lack of knowledge : Knowledge is power and leads to one success in whatever he is doing. A bitcoin investor needs the knowledge of bitcoin first before jumping into investing. This will enable him to be able to know the price movement of bitcoin and not to panic and sell, when he sees a slight change in the market or hear any bad new that will affect the price of bitcoin to drop drastically. This is also enable him to know the right time to buy and sell without regrets.
Trading : Trading is like a distraction to long term hodli because you will be busy thinking of making daily income and not having plans to hodli for long forgetting that long term holders benefits more that traders in the long run. Also due to the unpredictable price of bitcoin, it is very possible that you will run at loss, especially when you are a newbie because hodli doesn't need any skills but discipline, while trading needs skills and market strategy. You will be open to loss more of your bitcoin to trading than holding because you might end up making the wrong decision.
Sickness : This is another factor that can make a bitcoin investor not be hodli for long. You will notice that there are some sickness that will make us not able to go to work anymore due to its critical condition. One will not be able to earn anymore but will need to take care of himself and this will make him go and sell his bitcoin. It is better to use your bitcoin to take care of yourself and become healthy rather than die and leave your bitcoin in your wallet.
One source of income : This happens to those people that their earnings is not big, but could invest in bitcoin from their income Some investors due to hardship from inflation might not have enough money like they use to have to take care of their important needs and families,because if this their bitcoin investment will be tampered. All that they have bought will be sold off at a price that is not their will. If you find yourself in such situation, it is good to look for another job to add to the one to increase your income so that your bitcoin dreams wouldn't be shattered by inflation.
You can add yours to it as I will stop here. Let's discuss.
Just want to add one thing, and for sure everyone will agree, lack of patience is one thing that kills someone's goal to achieve it, we all hear what other people says during the years buy and forget it, for the meantime. Sickness : This is another factor that can make a bitcoin investor not be hodli for long. You will notice that there are some sickness that will make us not able to go to work anymore due to its critical condition. One will not be able to earn anymore but will need to take care of himself and this will make him go and sell his bitcoin. It is better to use your bitcoin to take care of yourself and become healthy rather than die and leave your bitcoin in your wallet. But I agree with this one, this is a no brainer, I would earn it once I recover from sickness like what have happen to me, I sold some of my holdings but not everything, i still keep some of what i have, but still your health is 100% priority, I'm sure ill get more of that in return because i can work better and earn since im healthy, but right now still recovering from the operation.
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Dr.Bitcoin_Strange
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September 22, 2023, 08:23:58 PM |
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One major reason that can make one not invest in the long term is not having a steady income source or another source of income that is at least generating income too. Imagine when you don't really have any sustainable income sources and you manage to get some funds and invest in Bitcoin. You will just be able to hold on for some time, and any day your daily wants are not met and there is no money on you. In such a case, if your investment happens to be the only money to save the day, you will not hesitate to sell off. Also, just as you stated, health issues are another major reason why someone might not hold on for long, depending on how critical the situation is, and if they don't still have another source to get the money for their medical bills, they will just sell their asset if that's the only option.
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Sanitough
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September 22, 2023, 08:48:49 PM |
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All of those negative factors that will stop you from investing in the long run can be beaten by strong will. Yes, that's it. Because when you're strong willed, you're going to do everything that you can because you're believing on what you're foreseeing to this market. All of those can be learned expect from sickness which we can't avoid and we're all going to be sick no matter how healthy we are. That's why you need to have a life work balance because it is an essential thing to be living through that. At the end of the day, you will have to deal with yourself and other factors whether you want to stay in the long term or you're going to give up because those factors were said so to stop you.
Precisely. Your strong will and determination will overcome those challenges because you created a goal and by sticking to it, you will come to achieve it in the long run. Believe me, there will always be struggles and challenges in any type of endeavor, but if you have a great plan to survive and overcome all of those, things will definitely fall in the right place at the end of the day. What we only need is patience and a deep understanding on our investment so we will know the right path to it.
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KingsDen
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Goodnight, o_e_l_e_o 🌹
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September 22, 2023, 08:56:35 PM |
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Snipped It's a pity that as many as possible are the challenges that can lead us to release what we have hodl when tge situation turns around against our wish that we have to release instead of holding the more, most of these are as a result of unforseen circumstances that are not negligible forus to do without, while some have been that lucky that they always hold their investment till when it is due for sell, no matter how dip the market is or how they have been obligated for a release of asset. The way that holding is being discussed here in the forum will make you think that that is the possible and the most reliable way to invest in Bitcoin. I do not consider holding for a very long time as the best way to invest in Bitcoin. I also do not consider dollar cost averaging as the best method for investing in Bitcoin. However, I do both of the above just because I do not have the capacity to do otherwise If I so much understand the chart and I have a very clear vision of where there will be deep and when there will be upward trend, I will not continue to hold on for a very long time. I will always choose to sell and rebuy at the low price. I will continue this process until the next bull run and I will make more profits than someone holding tight both in rise and in fall. Just because I cannot predict to some comprehensible percentage what happens in the market, I have no option but to follow the hodl syndrome.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Distinctin
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September 22, 2023, 09:01:30 PM |
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And I guess there are also another reason, if you are into gambling. As we all know that gambling is one of the first use case of bitcoin, i.e. that's why we have a lot of crypto online casinos right now and there are a billion dollar business.
With that, maybe some of us here who invest but then again become an addicted gambler might be putting their holdings into crypto gambling and losing their holdings.
If you have great plans for your long term investment, then you should never compromise it and won’t let your gambling addiction ruin it. For me, it all goes down to your own choice and decision making. You can gamble and invest for long term at the same time, but it’s important that you set a budget on gambling and when it’s already used up, just call it a day and just gamble again when you have spare amount of bitcoin.
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