Post
Topic
Board Economics
Merits 1 from 1 user
Re: No where is actually safe
by
Darker45
on 28/11/2021, 01:14:04 UTC
⭐ Merited by Jawhead999 (1)

But what is there in the entire history of Bitcoin that says mere HODLing is not the best thing to do?
Mere HOLDing isn't the best for bitcoin and other crypto with high volatility. This where the technicality that blows down account within seconds comes in when the analysis goes wrong. To decide when to sell and when to buy back so you don't get trapped in the whale is the deal. Just like bitcoin which is never stable always having a fluctuation in price so much of experience and knowledge is needed crypto is just too risky

First, we have this one:


https://twitter.com/BTC_Archive/status/1462071760766001152

This is the reality, that amidst its volatility, Bitcoin's price is actually going up higher and higher if you look at it from a couple of steps back. If you zoom in, there's really a wild price fluctuation. If you zoom out, you will feel really comfortable about HODLing, because there is an obvious price appreciation.

Second, you mentioned about the possibility of getting rekt when the analysis goes wrong or if you got trapped in a whale's decision. In your own words, crypto is just too risky. But what does that really mean? It means Bitcoin's price could rise and fall big time any minute of the day and that it is unpredictable. It is, therefore, very risky to play with its short-term price. But such risk is virtually non-existent if you widen your time frame, say, 5 years or a decade. Which leads me to ask, why should you court risk when there is a much safer and even sure way of making money without really doing anything.