Quote from: salad daging on November 22, 2023, 07:33:17 PM

Quote from: Mayor of ogba on November 22, 2023, 08:14:51 AM

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.

If a person invests in BTC while they themselves do not have a source of income, their investment path will not reach their destination or be long term.
Life is full of challenges so a source of income is important if you only rely on investment alone then it will not be profitable while we know the price of bitcoin will not directly increase in a short time of course this requires a long time process so in addition you invest then on the one hand a source of income must exist to fulfill your life.

A lot of people that do invest their money on bitcoin rely on it to rise so that they can trade it, it's only few bitcoin investors that have the mind of hodling their bitcoin for a long time let's just be very realistic, many people that buy bitcoins monitors the activities in the price of stocks in the market. And inasmuch as investment is concerned, whoever that invested their money on a particular project is hoping to make profits so due to the fluctuations in market prices, you can't blame someone that chooses to sell off his bitcoins if he notices that instead of the price to go high it start dipping so they're always in fear of losing everything thereby the reason for them selling off the little they've accumulated.

Quote from: salad daging on November 22, 2023, 07:33:17 PM

People who have invested while there is no source of income then undoubtedly the ownership will not be long will definitely sell in the middle of the road whether it is because of the needs of life, or fomo, it could be because the price dropped and sold it for fear of loss.

Basically, anyone who invest in bitcoins without having an alternative means of income is taking a higher risk which isn't advisable because if things doesn't really go the way they expected, they may run into depression because all their energy is being focused on making profit in it so a situation where it doesn't go towards that direction, it becomes a problem.

Quote from: salad daging on November 22, 2023, 07:33:17 PM

But with you there is already a source of income at least there is no pressure on your bitcoin ownership, so this can still survive to hold BTC.

It is important to have a source of income before buying and hodling bitcoin for a long time, and looking from the framework of bitcoin since it was introduced, we can see that it requires a long interval of time before one can make a reasonable profit in it.