Most people are playing the wrong Bitcoin game

[Obim34]

Agree ?

This is too easy to say, good advice, it is hard to do exactly what you say, most especially for forum members who frequent Bitcoin discussions and speculation boards all the time, the chart is something we keep track of. Without checking the charts, how do we come up with market speculations? Reading and trying to understand the direction of the market is helpful if an investor intends to buy, most especially investors who are aiming to buy at a low price, at best a lower price than they bought before.

The problem is with those who don't trust the journey, they make investments just to feel part of the system. Investors who know what it means to invest are unbothered by what the chart says, whether they check it in minutes, hours, or days, as much as they have no plans to sell early.

[ruykeri]

I don't think its a strategy either, since it's actually not helping us but is only giving us stress and headaches especially when bitcoin price continuously drop in the market. But what do we really expect, bitcoin itself is highly volatile, so we can't anticipate that bitcoin price will stay on a stable position for long. If we can get rid of checking the market price more often, then we can stay unbothered even if bitcoin price is deeply crashing.

But with DCA, even if the current price is dropping, you won't experience losing because you aren't selling as well, but consistent buying through DCA will help you won't miss any opportunity in the market and will help your bitcoin portfolio fast growing as long as you have regular flow of income that will continuously sustain bitcoin DCAing.

You are right. Investing in bitcoin regularly using the DCA method is the best way. The price of bitcoin fluctuates in a short time. That is why it is impossible to predict the price. And those who try to buy bitcoin by making dip predictions mostly face losses. Because short-time trading puts an investor in a gambling like situation where if you are lucky, you can make a profit. Now, if someone invests thinking that the price of bitcoin is low, later if the price of bitcoin decreases more, he will regret it. But if he invests following the DCA method, that investor can buy bitcoin at the average price. It does not create mental stress for him. And since DCA can be done with a small amount, the economic pressure is also less, so many people reduce their mental instability. Which helps to maintain consistency and avoid making decisions like panic selling.

[legiteum]

Not really. Before you draw conclusions, first of all, find out whether they are investing or they are trading. A trader has the right to time the market, buy low, and sell high. I respect that decision. However, our definition of a Bitcoin investor is an investor buying Bitcoin and intends to hold that Bitcoin for the long term.

So all investors in Bitcoin are lazy? I don't think so.

Trading is just... how you invest. You trade one instrument, say the currency of your paycheck, into another instrument, like a stock, or an ETF, or a crypto like Bitcoin.

Blindly holding anything for the long term is only laziness. Maybe you don't have time to think about your investments, or you just don't want to, but there is nothing "virtuous" about it. It's like saying that getting fat and not exercising is "good". It might be where a lot of us end up, but don't pretend it's "good" because it's not.

If you want to make more money, you need to diligently watch your investments. If you want to lose a lot of money, just invest in something and forget about it.

Somebody who carefully buys and sells Bitcoin at the right times will make vastly more money than somebody who just sits on it. And since Bitcoin can also go down in the long run, somebody who is diligent will lose a lot less money than somebody who is diligent if that were to happen.

[Bit-Mj1014]

When investing in Bitcoin, We all know that holding and DCA are the best way to go about things or those who don't know will eventually find out, but implementing and sticking to the this process is big catch...

Most people get there Bitcoin knowledge from day to day traders in the Internet, in a video of talking about there big wins in the market, making videos of there luxury cars, selling the get rich quick vibe.
Being exposed to this kind of information frequently and doing something different like the, hodling and the DCA strategy becomes really difficult

[zeuner]

We have to stop checking the charts every five minutes

Just take your favourite trading strategy and evaluate whether it leads to significant performance improvements to work with five minutes granularity (as opposed to e.g. five hours, days or weeks).

[TedMosby]

When investing in Bitcoin, We all know that holding and DCA are the best way to go about things or those who don't know will eventually find out, but implementing and sticking to the this process is big catch...
[...]

DCA is a good strategy if your goal is simply to make your BTC portfolio grow, regardless of the percentage of growth. BTC's CAGR may also get lower year by year, cycle by cycle. Perhaps there will be a period when doing DCA and doing nothing doesn't make much difference. In some cases, like during a bull market, a lump sum can give you a higher return. To be honest, my goal is to get as high a return as possible. I am trying to be realistic here. Maybe many people who hold BTC are hoping for the same too.

At first, I saw Bitcoin as a cool technology. It's full of great idealism and a movement. But now, the more I see it, the less cool it feels, especially because of the community and everyone who is involved in BTC nowadays. There is too much manipulation that ends up harming many people, especially lower income classes. Bitcoin used to be a movement for sound money, a medium for these people to prosper, but now I feel like it's sometimes being used against these people. Sorry, a bit OOT from the post. As always, CMIIW.

[hmbdofficial]

Most people are trying to time the top or bottom of Bitcoin .


Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

Yes I do agree with your point. Nobody can consistently predict bitcoin’s exact top or bottom, and trying to do Sao can actually lead to emotional decisions.

Best thing to do is for someone with a long term view, the simplest approach will just be the regular accumulation and avoid looking at the chart constantly, the important thing is that he understands the risk and only invest what he can actually afford to lose through out that large price swings or movements.
Most time the hardest part of bitcoin investment is not buying the bitcoin itself, but having the discipline not to react to every sudden price change.

[Sulegzy39]

The greatest strategy is to invest in bitcoin on a regular basis utilising the DCA approach. Bitcoin's price changes quickly. That is why the price cannot be predicted. Those who try to buy bitcoin based on dip predictions typically lose money. Because short-term trading puts an investor in a gamble situation in which, if lucky, they can benefit. Now, if someone invests because he believes the price of bitcoin is low, he will be disappointed if the price of bitcoin falls any further.

But if he invests using the DCA approach, he will be able to buy bitcoin at the average price. It causes no mental burden for him. And because DCA may be done at a little cost, the economic burden is reduced, allowing many people to reduce their mental instability. This helps to maintain consistency and prevents choices like rush selling.

[Rabata]

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

If you check too much after investing, you can create some problems that can affect your investment. For this reason, you must stop checking repeatedly. Bitcoin is a highly volatile currency that can increase or decrease in price at any time, but those who check their balance repeatedly may be afraid of the price drop, which can create a major obstacle in their investment. Investors who constantly think about their investment and check their balance can also change their decision at any time on the advice of others.

After investing in Bitcoin, the user needs to be sure of a few things. Is the place where the Bitcoin is being deposited correct or not. After this, the security-related issues must be monitored carefully. Has the user stored the seed phrase, private key and password correctly or not? If these things are correct, then the investors relatively stress-free. When the investor is free from stress, he can also increase his investment.

[JoyceBTC]

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

I don’t think people that do this are actually ready to invest for long term, they are not determined yet to do it. People who are determined to hold for long term, know the market will always not be stable and to keep their mind at peace, also to avoid panic, they take their minds of the chart to be checking every minutes, hours or days.

The bitcoin you bought and accumulating is not something you are holding just for few weeks or few months but a very long time or number of years, so to do yourself something good avoid checking chart every minute and focus on your goal.

[Promocodeudo]

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

If you see a serious investor you'll know, some people act as if the long-term rewards of Bitcoin is tied to constant checking of charts, for me that could be tiring and stressful, beside the time used for this, can be put into looking for additional source of income that could be helpful for an investor.

Although one thing I know is that, not everyone that's ready to hodl Bitcoin for a long term, I said this because some persons are just unnecessary trying to outsmart themselves, instead of putting such energy on focusing on how to build a bulky Bitcoin portfolio for a long-term.

[knowngunman]

@Lontor : Playing both sides kills the focus. DCA into Bitcoin keeps it simple without hedging against your own conviction.

@Ambatman : Exactly. The roller-coaster is part of it, which is why stepping away beats trying to micro-manage every dip.

Yes, that kills focus but only if you don't do it right. Although I agree with your initial plan and of course with lontor too. The problem is about our psychology and not about the strategies we are using to accumulate our coins. How sure are you that you won't touch your investment or panic sell when things get opposite? I think it's better to get your attention divided than to go all in and then collapse the investment at slight inconvenience. If you keep some stable coins, you can buy massively during the dip and while you're waiting for the dip, it still serve as your back up in case something beyond your control happen, you don't have to touch your Bitcoin. I'm not endorsing his plan by the way. Everyone is entitled to the plan that work best for them. As long as you can stick to it to accumulate coins as long as possible, it's fine.

[Cookdata]

Most people are trying to time the top or bottom of Bitcoin .


Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

If you mean holders, I agree with what you have said, you don't need chart to check the next place where Bitcoin will trade next year. If you view the market from far like monthly chart candle, it will help understand how far Bitcoin has come and more upside to break. However, from trading perspective, traders will look at the chart whether Bitcoin is good fundamentally at the moment or not, traders look at what the price is saying rather what you think about Bitcoin.

For the last 8 weeks now, we have tried to break the $65k price range, that resistance is something that traders can break but we have been in a downtrend since the beginning of the year which is why we haven't been able to break it. At the same time, the support has been stronger than when we first tested it. Most traders that are waiting for the price to comes down before they buy will miss out soon. The market will not wait for them if they are waiting for more dump.

[SmartCharpa]

Most people are trying to time the top or bottom of Bitcoin .


Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

Many individuals do not have the same mindset as you do. You believe that Bitcoin is worth every sacrifice you make today, but many people mistakenly think it’s another way of making quick profit. Those who invest for short term will continue to check the market over and over again. They easily lose their money, unlike long term holders who do not care about the market at all.

Even though you encourage many people that long term holding is the best strategy, they will still prefer to time the market. They believe they can predict the next move of the market. A lot of them do not buy whenever the market is going down, believing that it will fall more so they can buy at a lower price and sell at higher price. Timing the market will cost you peace of mind because you will end up selling at a loss when the market is falling.

[maydna]

No one know when the time the top or bottom of Bitcoin, they are speculating the price moves without knowing the real. I agree that we have to stack sats then log off and no need to check the charts every five minutes. That will helps you to stay away from confusing the market moves. DCA method will be the way for you to buy Bitcoin and considering that is perhaps makes you boring doing that weekly or monthly. But if you want to make a profit from Bitcoin investment in the future, you should buy gradually.

[Johnlomape]

Most people are trying to time the top or bottom of Bitcoin .


Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

I will agree with you on this and the way so many investors had been checking their charts looking for the opportunity to buy Bitcoin is so alarming and this behavior can make several investors to miss the opportunity of buying Bitcoin when they are supposed to take the advantage.

Waiting for the price of Bitcoin to drop very well before buying might look like a good strategy but it isn't when you don't know when price is going to dip or rise. It is better to be buying gradually without waiting for several months for Bitcoin to reach the price we must have been anticipating to see Bitcoin reach before buying.

[BlackHatCoiner]

Bitcoin should be purchased like any other investment: buy low, sell high. If you think Bitcoin is going to go down in price, sell it. If you think it's going to go up in price, buy it.

Truly groundbreaking financial advice. What if I think it will keep going up over the long term in terms of paper money, and only temporarily down in short periods of time?

A better financial advice is to sell something whenever you need the money for it, or borrow against it. Otherwise the capital can stay in the asset forever.

[Emitdama]

Most people are trying to time the top or bottom of Bitcoin .

Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

I will agree with you on this and the way so many investors had been checking their charts looking for the opportunity to buy Bitcoin is so alarming and this behavior can make several investors to miss the opportunity of buying Bitcoin when they are supposed to take the advantage.

Waiting for the price of Bitcoin to drop very well before buying might look like a good strategy but it isn't when you don't know when price is going to dip or rise. It is better to be buying gradually without waiting for several months for Bitcoin to reach the price we must have been anticipating to see Bitcoin reach before buying.

Well, you "sort" of know if the price ends up going down. How do we "know" this? By looking at the past, we know that in the past the price of Bitcoin has fallen a lot during the bear market periods in the autumn, and we are getting into that. That means if the previous ones were the same, then this one could be the same thing as well, and that is why there are a lot of people who are expecting the same drop.

Previous ones had big falls on October time frame, and we are expecting a big drop on the October once more. If that is going to be true and if that is when the fall will happen, then we are going to see things be a lot more lucrative if you buy during that fall when it bottoms, and then you can sell later on when the bull run comes. This doesn't mean that we are going to see the same thing; of course, it could be different, and we could see changes. That doesn't mean that we are going to see it be any different; it has to be something that will take some time to see if they are right or not.

[legiteum]

Bitcoin should be purchased like any other investment: buy low, sell high. If you think Bitcoin is going to go down in price, sell it. If you think it's going to go up in price, buy it.

Truly groundbreaking financial advice. What if I think it will keep going up over the long term in terms of paper money, and only temporarily down in short periods of time?

Comparing Bitcoin to "USD" or some other sovereign currency is a strawman.

Only poor people (who want to stay poor) think paper money is an "investment". These are people whose "savings" is piles of bills stashed in their home somewhere, or buried in their backyard.

Almost everybody* with any decent amount to savings puts their money in various investment instruments that have a good chance of delivering a positive ROI, such as stocks, land, businesses, crypto, etc.

So yes, is putting your money in a crypto like Bitcoin a better investment than stuffing cash in your mattress? Could be (not in the last year it wasn't ). But that's not what anybody compares it to.

(* Okay, there are exceptions like drug dealers and terrorists and that kind of thing--people who can't let the world know they have any money--but most honest people don't just let cash just sit there).

[B-BossMan]

Most people are trying to time the top or bottom of Bitcoin .


Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .

We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.

Agree ?

Many individuals do not have the same mindset as you do. You believe that Bitcoin is worth every sacrifice you make today, but many people mistakenly think it’s another way of making quick profit. Those who invest for short term will continue to check the market over and over again. They easily lose their money, unlike long term holders who do not care about the market at all.

Even though you encourage many people that long term holding is the best strategy, they will still prefer to time the market. They believe they can predict the next move of the market. A lot of them do not buy whenever the market is going down, believing that it will fall more so they can buy at a lower price and sell at higher price. Timing the market will cost you peace of mind because you will end up selling at a loss when the market is falling.

I have actually learnt a great lessons from many investors that, at time it truly becomes difficult when some investors are trying to make a prove that, they know what's going to happen to bitcoin tomorrow, especially the market analysts. Bitcoin is volatile in nature and the price can fluctuate at any moment, so no one can tell what the bitcoin price maybe tomorrow. That's why I preferred a easy plans towards Bitcoin that would be more valuable than trying to smart enough every time.

BTC price makes alots of people feels more emotional wrongly, most especially when the price shut up, greedness can make you wants more then when the price drops down, the fear begins making you asking yourself everything unnecessarily. Making a decision base on what happen at a moment may lead to regret, so its better to have a long-term views that will gives you a comfort, you know most people think unnecessarily looking for a perfect entry or even selling thier profits at higher price in order to make progress. Moreover, its better atimes to go with any plans that fits you.