Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Dr.Bitcoin_Strange
on 10/05/2023, 19:11:56 UTC
⭐ Merited by JayJuanGee (1)

and we have to fight as hard as we can.
and invest in btc in my opinion need an investment trading strategy and so on.

and usually many people are forced to sell btc because of emergencies such as illness,

Well, to invest in Bitcoin, you don't have to fight for it; you don't have to struggle for it. What happens to some people is that they lack the right investment ideas and management. Someone is not supposed to invest in Bitcoin in a way that could interfere with their mental health, like investing when you cannot have a peaceful sleep because you are either bothered about the Bitcoin price fluctuation or because your supposed period of investment is about to elapse (like if you just want to invest and hold for some months with the hope of making profit within that period).

Bitcoin investment is supposed to be done in such a way that you don't have to get so worked up about anything or even some arising emergencies. Let's take, for example, someone who is working and earning $500 per month. He or she can make a budget for their needs in a month and decide to invest just $100 into Bitcoin every month and use the rest to settle their needs, but some people would just invest like $400 into Bitcoin and assume they can use the $100 to cater for their needs in that month, and if they are unable to manage that $100 for that month, they may be forced to sell some Bitcoin, and they might be selling it when the price is lower than what they have bought.

Although it might not be all, but some people are forced to sell their holdings because of a lack of planning on how their investment should go. They don't budget very well to know how much they are supposed to spend, how much they should keep in fiat for emergencies, and how much they should invest that will not affect them in any way. When all that is handled, the person will not be forced to sell their coins in just some situations.