Quote from: Sim_card on November 28, 2023, 10:37:48 PM

Quote from: Aanuoluwatofunmi on November 28, 2023, 05:52:58 PM

Quote from: Justbillywitt on November 27, 2023, 11:40:24 PM

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You might be right, but sometimes the "retracement" does not end up coming, and so maybe it is no BIG deal if you were already prepared for UP at the end of September when BTC prices were in the $26ks and $27ks, but then if you think about it, we have largely had Upwards BTC price moves and no significant and/or meaningful retracement, so far.. and whether such retracement comes or not is not exactly high odds. Maybe it is 50/50? And how BIG of a retracement would you like to see? 10% or more?.. 10% only gets you down into the $33ks .. so would that be good?

When we get to a new high that has not been recorded for long time, like we moved from $33k to 38k I would wait for a retracement in the region of $35k before I add to my holding. But if we don't get back to $35k and move from $38k to $42k I would wait for retracement in the region of $39k It has been a strategy I have been using for long and it has been helpful to me. You know we cannot rule out a possible retracement. What I don't like is buy the top of the month.

If what i use here as a technique is good by me alone as from what i can see and it all works for me the better, i only invest using DCA, this helps me getting my portfolio pilling up till i see that I've gotten enough that is so close to the last all time high of $69,000 then i many decided to wait and hold onto the ones I've Invested, waiting for the bullrun to come and i make my profits then also reinvested.

Selling and taking profit during the bull run is not ideal because after selling, you might not be able to buy back at the price that you bought before and this will make you have less bitcoin that the initial amount that you had before selling. Meaning that you don't have a bitcoin target and you are not focus on accumulating bitcoin on a long term investment. Another reason why this strategy is not the best is that you will miss out the compounding interest that your bitcoin investment will accumulate for you if you only keep on accumulating till 10yrs time or more. Try and see your bitcoin investment as your life savings and not for profit alone because nobody knows if at the long run it is your bitcoin investment will be the one to take your to the next level in future because there is high possibility that bitcoin price might keep on increasing with timeline. It is better to save for the future than saving to sell and take profit and buy back again. All bitcoin sold can not be bought back easily because of the change in price towards the upside. It is also a bad idea to sell all your bitcoin investment and hold fiat. What is things didn't work out as you planned it after selling, that is when you will regret your action.

Those people who are selling their Bitcoin and making a profit during the bull run are short-term traders who want to make money by holding Bitcoin for the short term. This strategy might cause them to miss out on accumulating Bitcoin because after they have sold their Bitcoin at a high price they will wait for a retracement on the Bitcoin price before they can buy Bitcoin again, and if there is no Bitcoin price retracement they will miss out on accumulating Bitcoin. It is always better to buy Bitcoin and hold it than to keep money in the bank because the money will lose its purchasing power at the time of use, due to inflation.