Analytical ability and patience in holding bitcoins is a way where we can be on a path that will make us financially healthy. In theory, maybe something like this looks easy, because we only need to buy and hold. However, in reality it is not as easy as we imagine, especially when the market is bathing in blood which sometimes makes many people panic and in the end they decide to sell it.
If someone already has market analysis skills then they already understand that the fluctuating market does not have stable prices and they already understand the risks, so there are only 2 ways to take action, buying and holding all the time until it reaches your dream target price.If we have arranged financial allocations for long-term bitcoin investment, then we don't need to think about the short-term market impact like a price drop of 15k ago, we even have to increase investment at the lowest price from the reserve fund. I believe that many people have the opportunity to become rich from investing in Bitcoin if they are sure of long-term investment decisions.
Talking about success in an instant way, who doesn't want that, I'm sure everyone will have the same thought, but the problem is whether there is a way that will make it happen? i don't think there is such a way.
Bitcoin is our chance, we can't just pass it up!
Investing may not make you 100% rich but it will open a door for your next generation. Today there are two groups that make money hard and earn easily. Due to the negative effects of inflation, it is almost impossible to have something by working in my country. People invest in whatever they can invest in. Investing in the crypto market and stock markets is very attractive and is one of the main tools to protect our earnings against inflation. Therefore investing will always protect you against inflation.
You will not become rich by investing but you will not reduce your capital but it should not be forgotten that making a good investment causes your ambition to increase. When you become ambitious, you decide to invest more. But this is not correct behavior. You should stand by and proceed with Hodl in such a case. You should also be prepared for market fluctuations. Avoid investing if you have a weak hand. When investing, you should always be open to change and investment strategies from 15 years ago will not work.
You will not become rich by investing but you will not reduce your capital but it should not be forgotten that making a good investment causes your ambition to increase. When you become ambitious, you decide to invest more. But this is not correct behavior. You should stand by and proceed with Hodl in such a case. You should also be prepared for market fluctuations. Avoid investing if you have a weak hand. When investing, you should always be open to change and investment strategies from 15 years ago will not work.
The HODL concept does not necessarily work for "crypto" or "shitcoins," so anyone needs to be careful in regards to employing HODL with various scams, whether ethereum or any other shitcoin you need to consider your exit... stocks also might be similar.... of course, you could pick various index funds, and so if you ultimately determine that the stocks have long term fundamental value, then HODL would work for the various stocks that may well have long down periods.. and sure of course with any investment you might end up being wrong, so HODL would not work if the fundamental value and strength of investment thesis is missing or maybe if circumstances have changed with such investments in order to contribute towards a weaker investment thesis for whichever asset (stock, properties, commodities).
We can very well apply this concept to Bitcoin, but we can't necessarily apply it to other crypto assets, arguing that bitcoin and other crypto are the same thing.
Holding is something that has to be done with the right assets, lest we generalize in this space.