Sometimes our approach towards investments could be our greatest fall because when you have a predetermined negative mindset about a certain investment, you definitely will approach it wrongly and may possibly make mistakes you may have to learn from the hard way.
Talking about approach I believe the phrase
"HODL WHAT YOU CAN AFFORD TO LOSE" should be a guide when investing in Bitcoin.As it would go a long way in preventing trauma which may be caused by possible fatal losses especially when investing in shit coins. Bitcoin still remains the OG of the crypto space so it's never a bad option to invest in it.
I totally concur with this acception. Selling is always the worst mistake a Bitcoiner would ever make, some myopic investors sees a dip as the worst times in Bitcoin investment, investors who do not really know what Bitcoin is all about and the real vision. Thereby making them afraid of what the outcome of might be and then go ahead to sell off their Bitcoin, without knowing that dips are on the contrary the one of the best period in Bitcoin investment because it gives you another opportunity to buy and prepare for another Bull run. One major lesson I've learned about Bitcoin is that you only loose when you sell but you're in the safest side and will always make profit when you HODL even in the midst of a great dip. That's the secret of Bitcoin.
Selling Bitcoin is never a mistake but a choice which can either be regarded as a bad or good one which depends on the circumstances.We should not be against selling Bitcoin because most times we tend to buy Bitcoin before we hodl so if no one wants to sell we definitely can't hodl.Hodling is always regarded as the better option because it doesn't require any technicality unlike trading which does.
Selling Bitcoin is never a mistake but a choice which can either be regarded as a bad or good one which depends on the circumstances.We should not be against selling Bitcoin
In this thread selling bitcoin is out of it because selling bitcoin is for traders and not for hodlers. How will you sell some fraction of your investment when you have not reach your bitcoin target. This means that you are not focus towards your bitcoin accumulation goal or you lack proper planning that have made you to investment aggressively and is short of cash, and your are left with no option that to sell.
It is not advisable as a newbie who just started his bitcoin journey to start talking or thinking of selling so early, ot means that he doesn't understand the basic concept of how to invest in bitcoin and make profit and such people will get distracted or might even make wrong decisions that will make them to regret their actions. This is why you should prevent and avoid whatever that might make you sell part of your bitcoin during accumulation period, by making sure that you figure out the right percentage that you will use to buy regular that won't affect your monthly expenses and you should have emergency funds in reserve to take care of whatever challenges that are bound to occur in life.
Staying focus on your bitcoin target goal is what will help you control your emotions when you know that it is important for you to reach your bitcoin target no matter the ups and downs in the market. This is because if you let your emotions to control you on every news you hear, you will get distracted. This is why the DCA method is their to combat whatever fear that our emotions would bring because you will see your bitcoin portfolio increasing with your own eyes.