Post
Topic
Board Beginners & Help
Re: Unstable prices of cryptocurrency
by
lienfaye
on 21/12/2023, 02:45:04 UTC
As a beginner, I bought Bitcoins few days ago when the price was $43,943 with the hope that since the price has been increasing rapidly, that it will continue to increase but now that the price is dipping I now found out that the Bitcoins in my wallet is also going down.

So my question is that can't it be possible for someone to buy bitcoins and hodl it at a specific price such that even if the price dips it won't affect the Bitcoins you have hodl in your wallet?
The price of Bitcoin is unstable and that answer your question if you can hold at specific price. This is one of the reason why people are engaging themselves in Bitcoin, due to high volatility and a chance to gain huge if you're patient to wait.

Keep in mind that your Bitcoin is still intact and only its price is changing. That's why long term hodlers doesn't concern themselves even the price is plunging since they plan to hold for long time. It is actually the suitable strategy if you want to maximize your profit.