Post
Topic
Board Speculation
Merits 2 from 1 user
Re: Buy the DIP, and HODL!
by
Mayor of ogba
on 22/11/2023, 08:14:51 UTC
⭐ Merited by JayJuanGee (2)
The main idea is to invest the amount of money you know you can afford to lose, so you won't have to sell your Bitcoin. If a person ends up selling his/her Bitcoin because of a life invent even if sometimes life can be unfair, it indicates that they have invested more than they were comfortable risking.
I don't believe he invested more than he was comfortable risking. It's evident he wasn't aiming for long-term profit, and his lack of a well-thought-out investment strategy likely led to selling off his Bitcoins. For those looking to invest in Bitcoin, it's crucial to plan and diversify investments wisely, allocating an amount not needed in the short term. While it's understandable to sell some Bitcoins for emergencies, it's advisable to establish a separate savings fund for unforeseen circumstances during the investment period. Effectively dividing your income based on monthly expenses is essential.
Even due someone is investing in Bitcoin for the short term or the long term, it is advisable the person should have a source of income so that he/she will not rely on selling his Bitcoin holding to solve his life challenges. Fomo can also make someone to sell his Bitcoin holdings because he/she invested in Bitcoin to get some profit in an estimated time but when the profit doesn't come and the price of Bitcoin dips, that person might be forced to sell off his Bitcoin even at a loss.