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.

[Karl_3000]

Bitcoin price

₦122,970,267 ($87,004)

Happy hodling

Do not be discouraged but you can buy more.

[Bryan jessy]

Aside to hold bitcoin for long period seff, instead of make person save for fiat i go advice make e leave the money for bitcoin because the way fiat dey devalue na something of great concern. I just pity those people wey still dey pack money dey go full their banks, especially this period wey government don decide to become tax collector dem go help you split your money especially when the amount big. Only this move by the government don prove to us say we no dey that era of holding too much fiat. If you get bitcoin leave am for where e dey to avoid putting yourself for unnecessary problems like taxing, and the fearful part na besay this is the first time, we never know how dem wan use to cut the money dem so why fall victim for this first trial all in the name of being a good citizen.

Then to answer your question, if I get a signature campaign I believe the goal is to hold everything for as long as i can since I already have a source of income.

Yeah to an extent, especially this tax development of a thing, we have no idea how the government are planning to run it, and to be honest it does not sit right with me because the country is seriously going through a lot so while impose tax on them, with all others I will rather prefer leaving my money on Bitcoin and hold for long term. And generally people can only invest what they are capable of, depends on the amount of their income some might even invest higher than the amount or percentage listed above.

[Karl_3000]

Bitcoin price

₦124,360,029 ($88,195)

Happy hodling

[PostQuantumBTC]

Yeah to an extent, especially this tax development of a thing, we have no idea how the government are planning to run it, and to be honest it does not sit right with me because the country is seriously going through a lot so while impose tax on them, with all others I will rather prefer leaving my money on Bitcoin and hold for long term. And generally people can only invest what they are capable of, depends on the amount of their income some might even invest higher than the amount or percentage listed above.

Do not worry, government will use the tax to send their children to school in United States, United Kingdom or in other Oyinbo countries.

Not only that o, they will also use the money to get medical treatment in overseas.

Our government do not know our problem. If they know our prblem, they are wicked people that should be in hell.

[SmartCharpa]

The question is how much bitcoin can you hold weekly from the income you earn weekly? If you earn monthly, just divide the amount by 4, what percentage from the income can you use to invest in bitcoin?

This thread is not for the weak people that will buy bitcoin today and sell bitcoin tomorrow, we are holding for years.

We would also use this thread to discuss about bitcoin price frequently.

Hold bitcoin for retirement time, hold bitcoin during the lifetime.

We hold bitcoin we hold value.

Naira? You all know better.

The challenge some people have is they don't have a stable income that will help them to be accumulating every week and for those of us that will see it as a challenge or threat to be accumulating weekly, please don't see it as a challenge or threat because it is not and it is not compulsory that we should invest or purchase every week but rather we are to carry out this activity of purchasing Bitcoin whenever we have discretionary and I know it is not every week someone will get a discretionary especially those without a stable and steady source of income but don't get yourself worked out or pressure yourself, just accumulate based on your reach and capacity and the most important thing is not stopping.

That is why it is said that not everyone can invest in Bitcoin because many people who do not what it takes consider it as a challenge or something they must invest even though they do not have the money. I believe some people wish to invest in Bitcoin, but we shouldn’t do it with the money that’s not meant to be in investments. The person will overstress because they will be under pressure and have no choice but to sell their holdings

Bitcoin investment depends by how comfortable you will be with your earnings, not everyone that will be able to divide their monthly income into four due to other expenses. We all know how bad the economy is right now, but sometimes we have the cut down on spending in order to invest. However, if you say you want to solve all your problems with the little you earns, I don’t think anyone will find it easy or start investing.

[Dzwaafu11]

The question is how much bitcoin can you hold weekly from the income you earn weekly? If you earn monthly, just divide the amount by 4, what percentage from the income can you use to invest in bitcoin?

Investing in bitcoin weekly or monthly, is very important because before you know, you will see that you have accumulated good amount of bitcoin, in a short period of time. Although while doing that, don’t forgets to invest the amount you can afford to lose, because that’s one of the most important thing. that newbies don’t pay attention too, and when the market goes other way they start panicking, in which they are the one at fault. 

We don't have much Civil Servants in the forum but we have more self-employed youth here. And self-employed is like hand to mouth on this current economic structure in the country. So for someone to set an investment plan on bitcoin foe him sef is not an easy thing to do.  But if person na big business person den him go fit buy bitcoin weekly. As for me I don't buy bitcoin weekly but I buy whenever there is money.

Even the person who set amount to be investing in bitcoin weekly will definitely won’t invest every week, regardless of your job, there is weeks that when things occupy such investor won’t boarder investing that week or month.

so just because someone set a target of investing every week doesn’t mean he or she must invest every week or month. Because I believe some weeks the money won’t be there, that person will definitely leave that week.