Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Is Bitcoin for everyone?
by
boty
on 28/10/2023, 04:27:44 UTC
⭐ Merited by fillippone (1)
I am asking this because not everyone has made tangible profit for holding. Just like myself I end up selling at a loss most times just to solve a problem. Some might be lucky to buy at a low rate and within few weeks or months the price just pumps to their favour. This kept me wondering if Bitcoin is actually for every one or it is a scheme for selected individuals..
To be able to make a profit from holding Bitcoin I don't think it's enough if we hold it for only a few months, it takes a long time to be able to make a profit from holding Bitcoin and for those who happen to be able to make a profit from a few months I think when they buy it at the right time right and of course they can analyze the market conditions well so they know when is the right time to buy it.


It seems that you are involved in trading and if trading brings you losses, it is better to change it into an investment that saves it for the long term, because in my opinion this method is more profitable because Bitcoin over a long period of time tends to rise, especially when it starts to end the bearish period because it is time its good to start accumulating and selling them when the price starts to rise, and Bitcoin is for everyone either as a means of payment that can be used or as an investment tool that provides profits if held longer.
Choosing to invest in Bitcoin is indeed very good if we can buy and hold it for a long period of time and also we buy it consistently so we can make a profit from holding Bitcoin. You are right that Bitcoin will suit everyone who wants to invest or trade. We can benefit from both of these things, but we need to understand it well before doing so so as not to experience losses from what we do.