How to HODL for long.

[Juicyhome]

Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I had no income because I was still struggling with finance in the university so I decided to save little by little and i saved for a year plus and then started, it was challenging sometimes especially when I had nothing to eat I will remember I have Bitcoin and that I could sell it off.

Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.

Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.

Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.

 

Bitcoin also serves as a store of value as it fight against inflation, however, having a stable source of income can be good for anyone venturing into Bitcoin investment so that you will not looking up to your Bitcoin investment to solve you other needs, having a stable income flow will also help in ensuring a healthy investment as you will be increasing your the size of your Bitcoin investment by making purchase on different occasions as it takes fewer and fewer of Bitcoin to realize it up to a reasonable amount, a provisional emergency funds are very important as we are prone and vulnerable of encountering an unforseen circumstances such that having an emergency fund will definitely help by not selling your Bitcoin to solve your emergency issues or problems.

That is what i observe in bitcoin reserve too, you must have a spare cash that will sort out you health, food, and other personal stuff aside, do not include it in the biticoin investment funds, and if your are not a daily trader stop opening your wallet so you wont be tempted to touch it, just have a plan or a target year you want to withdraw   and let it be. because have seen people that have a long time plan and they could not make it because of fear of dip in bitcoin, never you be afraid no one is controlling the market, let you investment be. behave like investors in bank stock, they invest and they do not go to the bank every day to check their profit till a stipulated time.

[asarfiar]

Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I had no income because I was still struggling with finance in the university so I decided to save little by little and i saved for a year plus and then started, it was challenging sometimes especially when I had nothing to eat I will remember I have Bitcoin and that I could sell it off.

Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.

Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.

Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.




 

Relatively speaking Bitcoin investment is an unlikely good plan, yes if you can take the right approach. Holding DAC and long-term holding is the main source of income with proper planning, which can play a special role and play a key role in making your Bitcoin investment sustainable. But on your income, suppose the monthly income is $120, and you spend $90, the remaining $30 you can invest in Bitcoin. However, Bitcoin investment should be a long-term plan, an expression of thought, urgent need or to face something challenging, why not think about the investment in Bitcoin at all, and I think that Bitcoin investment should be continued in the long term.

[Olacryptoex12]

As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings

For an investor of Bitcoin that is willing to HODL for a certain period of time there are things you consider before buying;
You have to set goals for yourself your entering and your projected exiting price should be stated after your research about the investment and you have to adhere to that.
Is it gonna be a long term or short term investment for you?
You don't use your emergency funds for this it a very highly volatile market.
Know the gain and risk involved in Bitcoin investment. And most importantly be informative.

[SOKO-DEKE]

As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings

Holding Bitcoin for a long period of time is really important in bitcoin investment because that is what can determine your profits. Let's look at the story of Bitcoin and see from time it came into existence. Only those who are able to hold onto their Bitcoin investments are those in great profit nowadays, so if we really want reasonable profits from our Bitcoin investment, we should be ready to hold for a long period of time. At least try to experience two more halving before thinking of taking a period.
 
And one important thing is that someone should set a selling price for itself, and once you have that, try to hold onto that price so that if the price of Bitcoin does not reach that selling price someone should sell it, so that it will encourage someone for holding it Bitcoin investment. I have a friend who just set the Bitcoin selling price at $500k. Since the Bitcoin price did not reach $500k, he is not ready to sell his bitcoin investment. I can't actually predict the price of Bitcoin, but with the Bitcoin price target of selling, it needs to be hold for a long period of time with Bitcoin current price now.

[laijsica]

As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings

Holding Bitcoin for a long period of time is really important in bitcoin investment because that is what can determine your profits. Let's look at the story of Bitcoin and see from time it came into existence. Only those who are able to hold onto their Bitcoin investments are those in great profit nowadays, so if we really want reasonable profits from our Bitcoin investment, we should be ready to hold for a long period of time. At least try to experience two more halving before thinking of taking a period.

You need to prepare yourself more for long-term holding such as not being aggressive in the first place and keeping yourself a large amount of floating cash. Unexpected events may occur at various times while your investment is ongoing, such as physical illness or loss of job or business downturn. The problem should be resolved without withdrawing your holding to address that situation. Hence it is recommended to keep at least 6 months or more in cash to meet your family's daily needs. The more cash you have floating around the more aggressive you can be in buying bitcoins during price dips which will keep your stack growing faster and your portfolio looking decent.

[GIF-JOBS]

As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings

Holding Bitcoin for a long period of time is really important in bitcoin investment because that is what can determine your profits. Let's look at the story of Bitcoin and see from time it came into existence. Only those who are able to hold onto their Bitcoin investments are those in great profit nowadays, so if we really want reasonable profits from our Bitcoin investment, we should be ready to hold for a long period of time. At least try to experience two more halving before thinking of taking a period.

You need to prepare yourself more for long-term holding such as not being aggressive in the first place and keeping yourself a large amount of floating cash. Unexpected events may occur at various times while your investment is ongoing, such as physical illness or loss of job or business downturn. The problem should be resolved without withdrawing your holding to address that situation. Hence it is recommended to keep at least 6 months or more in cash to meet your family's daily needs. The more cash you have floating around the more aggressive you can be in buying bitcoins during price dips which will keep your stack growing faster and your portfolio looking decent.

Yes, we must invest that money wey we no go need use solve our problems. Because if we no invest for long time, e get more chance say we go lose pass gain from am. So make we fit meet all our daily needs without that invested money, we need to keep some emergency cash first. For example, if urgent medical treatment, urgent family problem, or any urgent need come up, make we no go depend on the invested money for urgent needs. Because that time fit make us lose plenty money. So always make we invest that money we fit afford to leave for long time.

[Davidson500]

Holding Bitcoin for a longer time is very easy if the investor is readily prepare to do so. Holding for long also required been patient and for an investor to succeed in holding Bitcoin for long he are she must be discipline he must set aside a discretionary income which will enable he hodl for long incase there is unexpected challenges that came you won't go and sell out your Bitcoin hodling. Also with the DCA strategy am investor can buy Bitcoin weekly or monthly inrespective of the price level.