Why HODLing is such a genius strategy

[laijsica]

HODLing sounds simple, but I really don't buy the "just set it and forget it" advice. You still have to keep your coins safe, manage your risk, and figure out what you'll do when things shift.

Holding is the easy part. Sitting through the actual ups and downs of a full market cycle is what really tests you.

You should determine what your strategy is to accumulate Bitcoin regularly, from the cycle of market ups and downs. Holding is not easy, but it is not too difficult if you have discretionary income. If you have the funds available, holding Bitcoin will keep your funds safe from inflation. The phrase "hold and forget" means to hold Bitcoin for the long term. You are advised to forget so that you do not sell your holdings during the pumping.

[Uhwuchukwu53]

The reason many stressed that Bitcoin is not quick to get rich scheme is as result of holding which gives more assurance of good results whenever profit is discussed about Bitcoin, when carrying out comparison of the best way to make better outcome in Bitcoin investment holding should be the first to consider because it's advantage is enormous above all odds it security dominate all aspects of investing in Bitcoin it relaxed the mind of the investor more anything else, Bitcoin long term holder hardly fall into FOMO just like short term holder who is more like trader because certain action of over monitoring the market won't be there despite them checking the market movement not as what the trader feel because their expectations is far beyond.

[hmbdofficial]

The reason many stressed that Bitcoin is not quick to get rich scheme is as result of holding which gives more assurance of good results whenever profit is discussed about Bitcoin, when carrying out comparison of the best way to make better outcome in Bitcoin investment holding should be the first to consider because it's advantage is enormous above all odds it security dominate all aspects of investing in Bitcoin it relaxed the mind of the investor more anything else, Bitcoin long term holder hardly fall into FOMO just like short term holder who is more like trader because certain action of over monitoring the market won't be there despite them checking the market movement not as what the trader feel because their expectations is far beyond.

In other words, I also think this is one reason people always say bitcoin is not a get rich quick scheme. Holding for long term allows you to look beyond the Daily price movement instead of reacting to every small rise or fall.

Short term traders usually have to watch market more often and closely and try to make the most correct decision. In doing so this it can actually lead to either FOMO or even panic sell. But a long term holder can have Clear plan and be more patient.
However holding doesn’t also guarantee 100% profit, but its actually the best approach

[MusaPk]

The reason many stressed that Bitcoin is not quick to get rich scheme is as result of holding which gives more assurance of good results whenever profit is discussed about Bitcoin, when carrying out comparison of the best way to make better outcome in Bitcoin investment holding should be the first to consider because it's advantage is enormous above all odds it security dominate all aspects of investing in Bitcoin it relaxed the mind of the investor more anything else, Bitcoin long term holder hardly fall into FOMO just like short term holder who is more like trader because certain action of over monitoring the market won't be there despite them checking the market movement not as what the trader feel because their expectations is far beyond.

To get real benefit from Bitcoin, we have to invest for long term but its not an easy job. Many people can't withstand the pressure when price of Bitcoin start going down and you will have to face such situation, if you are investing for long term. If you want to become long term investor then you need to have strong nerves that can withstand the pressure during extreme bearish season. Many people sell there Bitcoins thinking that since price has gone down and its not possible for Bitcoin to stand up on its feet again but Bitcoin after every bearish season Bitcoin was able to increase its price.

[ChocolateBitcoinK]

HODLing sounds simple, but I really don't buy the "just set it and forget it" advice. You still have to keep your coins safe, manage your risk, and figure out what you'll do when things shift.

Holding is the easy part. Sitting through the actual ups and downs of a full market cycle is what really tests you.

You should determine what your strategy is to accumulate Bitcoin regularly, from the cycle of market ups and downs. Holding is not easy, but it is not too difficult if you have discretionary income. If you have the funds available, holding Bitcoin will keep your funds safe from inflation. The phrase "hold and forget" means to hold Bitcoin for the long term. You are advised to forget so that you do not sell your holdings during the pumping.

Basically, everyone's financial situation is different, and therefore it is not realistic for everyone to adopt the same strategy. But yes, if someone wants to get a good chance of success from Bitcoin, then they must hold it for the long term, and to hold it, you must stay away from overthinking the main thing.
When the price starts falling rapidly, many people think that it will fall further and they sell out of fear, and when the price starts rising rapidly, they sell too quickly in the greed of profit, this kind of thing can never be done. Being consistent in your plan is the main thing, and this consistency is very important as an investor. You have to be careful in controlling emotions, controlling greed, and you have to be stable towards your goals. And for this, it is important to be careful about your financial capacity and invest within your capacity. No matter how exciting or scary the market is, you have to be stable towards your long-term goals.

[icebar]

HODLing sounds simple, but I really don't buy the "just set it and forget it" advice. You still have to keep your coins safe, manage your risk, and figure out what you'll do when things shift.

Holding is the easy part. Sitting through the actual ups and downs of a full market cycle is what really tests you.

I agree with you a lot, especially that HODLing does not end with just buying Bitcoin. Security and risk management are also important here. However, I think the real test of holding is not just going through the ups and downs of a complete market cycle. Along with this, it is important to build your cashflow and backup fund in such a way that even if the market is down for a long time, you are not forced to sell Bitcoin.

Of course yes. What is HODLing without back up funds? Absolutely nothing my dear. HODLing any assets such as Bitcoin or related becomes much more easier when you build walls of protection around you, and for Bitcoin, you raise back up funds such as emergency funds and other back up funds to ensure your asset is protected. If we are carried away by the excitement of building our portfolio and forget to raise back up funds, then it might be problematic to HODL your coins safely for a long time as you intended. But with the cover of your back up funds, you could easily attend to uncertainties and still keep building your portfolio, thereby making you HODL much longer.

We cannot deny the importance of emergency fund. Because an emergency fund protects investments in the long term. It can also reduce the pressure of forced selling during an emergency situation. It may not be realistic to say that long-term savings have no value without a supportive fund. Because it can unnecessarily delay the start of a new investor.

For many, it may not be possible to save up a few months of expenses and then start buying Bitcoin. Again, it may take 1 year or more for some to build an emergency fund. Waiting that long without investing can certainly be an unreasonable excuse. Therefore, it is advisable for people to put a portion of their discretionary income into an emergency fund after meeting all their necessary expenses and put the rest into investments. This allows them to focus on emergency funds and investments at the same time.