Post
Topic
Board Trading Discussion
Re: Is Buy and Hold Really the Best Strategy in Crypto?
by
The Pharmacist
on 31/08/2020, 00:28:24 UTC
Buying and holding bitcoin is the best strategy IMO, but I don't think the same is true for the vast majority of altcoins.  Therefore for crypto trading in general, buy-and-hold might not work out for you if you're holding some awful shitcoins or tokens that have been overhyped.  With those cryptos, I think short-term trading might give you the best chance of making a profit--but it's still risky as hell, particularly if what you're trading has low market liquidity and/or extreme volatility. 

Bitcoin is still the most popular cryptocurrency out there by far, and if you think it's going to have any utility as a currency then it has to significantly grow in price if it's going to be used by a lot of people.  And if you're bullish on bitcoin, I think you'd probably end up losing money if you're just trading in and out for cash.  Lots of people get lucky and time the market correctly....but most don't.

“95% of traders lose money”
That's probably true, and I wouldn't ignore those words altogether.  The market has a way of wiping out both experienced and inexperienced traders.