My strategy is simple, buy when the price goes down and sell when the price goes up. I do a 50/50 split keep fiat on an exchange incase price moves to levarage against bitcoin dropping. The bitcoin I have on localbtc
I like your strategy. Since I'm new in bitcoin. How can I monitor the rate of bitcoin? And on what currency is it based upon? TIA
This is a simple rule that has proved in finance science and it works in every investment area. There are many websites to check rate of bitcoin such as preev.com
best strategy is to wait for a good price. But that also depends on how many it is used. If it is many used you can make more money.
And the most important is that the value also must rise.
The best thing that you must do is look if there are many people that use Bitcoin. If many people use Bitcoin than your chance will be higher to earn some with Bitcoin.
But you must make it first popular and more used. So you must first promote it, that is really important.
But it may takes a lot of time for waiting for seeing the price high! This strategy may not work well.
With enough patience long term holding will pay off significantly. It's well worth all the time you have waited. I am also a long term holder and I really don't mind waiting a few years to see a very high price. It's all profit I am thinking about.
How long term is long term? I'm supposing that in the case bitcoin bubbles off in the halving this year you'll sell too right?
no that it's not a long term, real long term is around 2030, for every halving you can try to play the buy low sell high thing, and it may be successful
but it's not so easy to know at what point is the low and what point is the correct high
Buying low and selling after halving is not possible all the time. Only at times of steep fall buying can be done. If every selling is done only after halving. You need to wait for long years.