Quote from: carlfebz2 on August 01, 2023, 11:25:50 PM

Quote from: Smartvirus on August 01, 2023, 11:14:55 PM

Quote from: jaimie0501 on July 28, 2023, 06:10:02 PM

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions.

What do your good reasonings tell you?

Remember, one principle that guides bitcoin investments or trading at most of that;
You buy when the market is low or rising and sell when it's high.

Considering where the market is now and that be $29.k from an ATH at $69k, if your to go by that principle, you would find the idea of selling now to be out of place. Bitcoin is down now from the current ATH, yigvemissed the chance to sell and what you supikd be doing now is buying with DCA strategy rather than selling. Selling would mean your losing even though you would be selling to invest in a different commodity. No investment is promising and as such, you could still get to lose.

The best for you would be to stick with what you know, what's at hand and before come next bullrun, you might get that chnace to sell if that be your plan towards your hodlings.

Always stick into that principle then you should really be just fine but if you do the other way around then you would really be finding yourself on doing the wrong move which is to buy high and sell low.

In terms of trading then it would really be just that sensible that you should really be sticking on something that would really be beneficial and not something that would really be giving out some disadvantage.
If you have made yourself get caught on the dump then it would really be just that normal that you should really be holding up your position and never ever make yourself make out some cut loss.
We know about Bitcoins potential, it might be able to drop which it is really normal for a market to do such thing which time will come that there would really be a recovery.
It might be a couple years of waiting but doesnt mean that it wont really be able to reach out those entry point of yours. This is why DCA would be the best or wise thing to be done.

Although there are really people who would really be skeptical on doing action because they have already experienced about being that losing their investment initially on which it would
really be that surprising that you wont really be making out some further step for you add up your investment.

No matter what the price of Bitcoin is, you continue to buy it. With time, you can reduce your investment's sensitivity to market fluctuations. You made a good point by mentioning that.

You're right; it takes bravery to hold on during a market decline. However, it is important to remember that Bitcoin has proven its durability on multiple occasions. It can always pick itself up after a fall and clean itself off. There is no reward without pain.

The market is a jungle and not for the faint of heart. Even if others cast doubt on you after a setback, remember that the genuine champions are the ones who recover stronger than before. Those who give in to their fears are the ones that end up on the losing end. Remember that its not about trying to time the market, but rather spending time IN the market, and act accordingly.