Hodl (Naija)

[PremiumcryptoHub]

Bitcoin is really trying in this bear market, I expected it to be around $70000 by now but it is still above $87000 which is 1.45 times lower than the all time high. Bitcoin is showing itself already that the future will really be good, holding bitcoin now will be very good. If the price fall, buy more.

Many experienced investors have taken a different stance on the Bitcoin price you have predicted and were expecting $150k or more. The bear market you are predicting has not yet started but it is not certain that it will go that low. As you plan your investments on whether or not to follow past price increases, always maintain a holding stance as the market is gearing up for a bull run.

Currently, with the current situation in the Bitcoin market, we Nigerians should not be discouraged at all but should try to buy more. You are right on this experienced investors have taken a different stance on the price of Bitcoin as many have commented in this bullish cycle that the price of this electronic currency will hit ATH more than once.

However, wherever the price of Bitcoin is, our mindset should be such that it is possible to buy Bitcoin with a small amount of Naira, so it is not right to stop ourselves from investing based solely on the predictions of analysts. We should remember that when the difference in the growth rate of Bitcoin is positive, it definitely indicates a bull market, so I would say that we should keep that optimism and engage in holding.

[Karl_3000]

Bitcoin dipped below ₦125,380,314 ($88,000)

Bitcoin price

₦123,529,194 ($87,686)

Happy hodling

Do not be discouraged but you can buy more.

[BitBakerr1]

Holding bitcoin without accumulating your bitcoin, it will not lead you to a greater opportunity to earn good income in the future

What did you mean by this holding bitcoin without accumulating bitcoin (will not lead to a greater opportunity)? It will be good if you explain better.

since I discovered that bitcoin is the king among other cryptocurrencies, I chose to hold bitcoin for five years before looking into the market to know what to do either to trade or continue holding because there will be more opportunity to increase my income if I continue holding bitcoin.

I prefer to hold bitcoin than to trade bitcoin. Even after in long term, I still prefer to hold bitcoin instead of trading it. As for me, there are losses in trading but holding is a different story.

What he meant is that it's better to buy consistently with the DCA strategy than just buying once without buying again, a lot of beginners have missed buying Bitcoin when it was cheaper and the best way they can maximise their opportunity of getting better profits in the future when the value of Bitcoin increases is to buy consistently, so his statement is correct.

Well history has shown that the longer some holds Bitcoin the more the person stands a good opportunity generate more of it, so if you can be determined to continue holding even when you reach a position where you can sell some portions of it, it's a nice idea.

It’s not better to only use DCA strategy to accumulate and hold Bitcoin, all Bitcoin accumulation strategy is good if you are comfortable with any strategy you are free to do it, okay just imagine someone uses $200k or $500k to accumulate bitcoin at once and then hold are you going to say he did the wrong thing or should have just used DCA strategy to accumulate every week or every month do you think it is everyone one that has that time to be accumulating bitcoin weekly or monthly.
The reason why you are saying DCA bitcoin accumulation strategy is better is because you are comfortable with it.