Post
Topic
Board Bitcoin Discussion
Merits 3 from 1 user
Re: 18, holding my bitcoin and looking forward :)
by
SOKO-DEKE
on 02/08/2023, 20:19:29 UTC
⭐ Merited by The Sceptical Chymist (3)

I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.

Knowledge is the first step any newbie needs to consider before investing in the cryptocurrency industry, and what you have done is what will lead someone in the right direction. If someone has good knowledge about Bitcoin, taking the risk will not be hard for such a person because the knowledge will give them confidence in the risk they can take.

It is a good idea to view Bitcoin as an investment and to invest in it at this time. I am confident that over time, your Bitcoin investment will pay off, but all I need to say to you is to only invest money you can afford to lose. Avoid investing money you cannot afford to lose in an effort to make a significant profit quickly. If someone can keep Bitcoin for a very long time, they can still make enormous gains.

Quote
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.

It is a good idea to have a sell target; it won't be bad if you achieve your Bitcoin price selling target by 2024 or 2025 and sell as you promised. However, the reality is that it is very difficult to predict the Bitcoin price; even a specific time to sell may not go as planned. The best course of action is to achieve your profit target; once you achieve it, you can sell and buy when the price drops again. Let's wait and see whether a bull run will occurs in the intervals you suggested.