Post
Topic
Board Bitcoin Discussion
Re: Newbies: Don't panic and learn to hold
by
adzino
on 17/06/2022, 03:55:16 UTC
-snip-
Don't predict the bottom, just do Dollar Cost Averaging or Averaging down to accumulate more Bitcoin. We're as a Bitcoin enthusiast are looking for long term, not short term or instant profit by pump & dump of shitcoins. Also there's nothing wrong to diversify your investment, but make sure you're diversify to other assets/commodities e.g. gold, silver, bonds, real estate etc, never diversify to shitcoins since it's worst than Bitcoin.
You don't even need to do dollar cost averaging. Just invest as much as you can afford to lose and sit back and relax. When the price goes up, if you feel like you need to take the profits, sell and enjoy your gains. If the price keeps on falling and you don't need the money, just hold and wait for the market to recover. You have some extra cash lying around that you don't need, then invest those money during those dips to maximize your profit. Even when the price goes up, you can invest those money. You don't need to wait for the dip. Better to invest than to keep those money in bank which eventually loses value in the long run.