The prerequisite for investing and holding it for long is to first build courage in your mind and develop the mentality to take maximum risk in the right place. When you have courage in your mind and inclination to take risks, you can invest and hold it for a long time.
Keep your investment for long term and set yourself a goal I tell you your investment will never let you down but will give you better than your expectations.
While you make a plan to hold and be able to get more bitcoins for yourself, many obstacles will come along the way to make sure that your target is missed. As you plan, make room for flexibility when necessary, so if your plans go sideways, or is being wrecked by challenges, you will only be bothered by change in plans, not a change in goals that you have set for your investment. Changing the plan happens, but changing the goal of investment should not happen except it is to set a higher goal.
The financial foals should be parted into two, short-term and long-term goal then only it is possible to achieve them one by one but most of the retail investors including
crypto community set their goals longer but they miss to see the obstacles in the near future such as sudden changes in the market which will make them to panic and make wrong choices which will go against what they planned initially.
Yeah, but we are not talking about crypto here. Fuck crypto. We are talking about bitcoin in this thread, and quite a few of the long term principles fit with bitcoin, but if you try to apply the same principles to some vague bullshit ideas and who the hell knows what you are even talking about if you use the term "crypto?"
If you meant to say "bitcoin" then why didn't you in order that we can at least know what you are posting about? Are you posting about bitcoin or something else? You did not use the word bitcoin at any one point in your post.
There are people who still apply the principles of investing in bitcoins to every other cryptocurrency. It is a big mistake because due to the misunderstanding, so many people find themselves holding on to many useless cryptocurrency because they heard or read a certain advice to bitcoin investors to hold their coins as long as they can, so they think that it is applicable to cryptocurrency in general. These people are exerting energy to keep the wrong coin, and they will surely regret their actions when they learn their mistake.
I agree that we shouldn’t waste your time on anything other than Bitcoin. I believe that even if he showed himself poorly in the moment with the Ordinals, his price will fly into the sky in any case, even if it takes many years. Even then, it will be ranked as the number one rare cryptocurrency. Therefore, my faith in him is strong.
I believe that the line between a trader and a holder is very thin. Yes, it lies in the frequency of transactions in the market. But if I can buy once a month with a pending order at the lows, and once a month sell at the highs (rarely too) - am I a holder or a trader?
A trader has more exposure to the crypto currency market than a regular holder would because of the frequency of interacting with the Blockchain for transactions.
A holder knows nothing more than to HoDL and if they are disciplined enough, can and should HoDL for a couple of years without paying heed to market trends of whale signals or halving in the least
A holder would buy the dip or buy otherwise because they believe more in the outcome than in the currency market situation.