Quote from: CarnagexD on July 02, 2023, 04:46:32 PM

Quote from: CupCakeHugs007 on July 02, 2023, 04:11:20 PM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Yes, it is true. It is very easy to buy. But holding it until you get to the desired price to take profit is what makes it difficult. Not all people have the mental capacity to handle drawdowns and see their funds melt down to negative. They become afraid and instead of holding or buying more, they sell it. Because when you are euphoric it is very easy to buy, when you are fearful, it is very easy to sell your position. They don't have realistic timelines and expectations. They don't have a plan for when to average down on their position.

Just buying btc and holding it is not a strategy. A strategy consists of managing risk, psychology, and your position. Getting in the move is the easiest.

I have to agree with you mate. Buying btc is so easy that it can be done with anyone who’s willing to spend for it, but battling its price volatility that will cause its price to drop to its lowest and preventing yourself not to panic is the most difficult thing. It takes a more disciplined and determined mind to process that. However, if you are investing with adequate knowledge and experience, that won’t be a problem. Just never trust an exchange for long term hodling. Know where to store your coins so you can assure its safety and security from scammers and hackers around.