Quote from: Tmoonz on January 20, 2024, 10:43:45 PM

Quote from: Odohu on January 20, 2024, 02:18:06 PM

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Quote from: Salahmu on January 19, 2024, 08:22:55 PM

Actually I no that every investors has there own strategy that favours them but however I would suggest that you shouldn't only focus on buying Bitcoin when it gets to $38k because there is no any certainty that Bitcoin price will drop to that price you intend to buy because the reason why I'm saying this is that I have seen numerous of investors who focus on buying Bitcoin only when it gets to a particular price and they waited for a long time and the price could not get to there intended points as such they missed all the opportunity they had on taking advantage and accumulate Bitcoin.

Waiting for Bitcoin to drop to $38k before buying can be risky because it's quite likely that Bitcoin might not go down to that specific price again. Instead, it could only dip to $40k and then start rising once more. This waiting game might cause you to miss out on the opportunity to accumulate Bitcoin for the entire year. Many people made this mistake when Bitcoin dropped to $20k; they expected further drops, kept waiting, and missed the chance to start buying. While getting Bitcoin at low prices is beneficial, waiting for an even deeper dip might not be a wise strategy.It's possible that the price may never reach the level you're aiming for, leading to missed opportunities and regret. It's important to strike a balance between waiting for a good price and seizing the opportunity when it arises.

I'm happy to have passed this stage in my Bitcoin journey, at least I know what I am doing and what to look out for, I have develop a method of building my Bitcoin portfolio that helps me buy effortlessly without having to be confused. Those who are yet should do same, chose your method of buying and work with it to avoid distractions because building Bitcoin portfolio could turn emotional exercise if not followed with rules.

To be specific, I adopted the DCA method some time ago and I have been using same to build my portfolio. I'm happy with the result so far and I'm glad I was able to make the decision to use it. I could buy at the dip once in a while depending if I got excess of my projected income. When I do this, I buy when the market drops and become a little stable within a zone. I don't usually care if it goes further than that after all, the DCA method is in place to buy if it gets lower.

The early one develop a strategy in buying Bitcoin, the better because a strategy saves a lot of energies and time.

Holding Bitcoin for long term rather than Short term trading reduces the risk of lossing value to Short term Price fluctuations while still having the opportunity to benefit from Long term price appreciation, Bitcoin has not had a crash since creation (2009) I want to be part of the change Bitcoin is bringing to the world as I continue to accumulate through the DCA strategy I learnt in this forum and having my emergency fund set aside specifically to overcome the thought of selling in time of unforseen contingencies that may arise in the process of accumulation.

Selling short term will just create some impression for those traders that they can only earn limited percentage for bitcoin since this is they can only trade with its limited movement of the market. But if they just realize how huge the potential to gain a lot of profit if they are into long term hodl for sure they will adopt this kind of set up and ignore those daily trades they do since its kinda waste of their efforts and somehow this is dangerous for them to lose their money knowing how volatile the market which it can affect their decision making in short period of time.

That's the reason bitcoin is always best for long term and traders should aim for that since for many times this coin prove that it brings some good profit to the holders if they just have long patience to wait for great pumps to come. We could make it those past years as bases and we can really agree when saying that they are so lucky for accumulating early and they are now enjoying what they invest for long time with this current rate we have now.