Those who want to hold Bitcoin for the long term must keep a close eye on the crypto market. Whenever you see a dip in Bitcoin price in the crypto market, you will try to buy and hold Bitcoin. But I know that Bitcoin will pump multiple times in the next few years. .Now bin our time and expect to earn multiple times in a few years from now.
I think you are going about this the wrong way, make like those who guy shitcoins and expect it to give them X10 or more with some time, probably few years. Here we do not know if the price of Bitcoin can increase multiple times next few years, that is not the main emphasis rather to build a Bitcoin portfolio over the course of some years while expecting it to worth something great in the future even though we still keep open mind to all possibilities. Our job is to accumulate Bitcoin with part of our money (not all), and hold it for long. We use part because we have to eat and do other important obligations while also setting aside some money for Bitcoin as a form of investment for the future. The price now is irrelevant because we are not looking to sell soon
If your plan is to have a Bitcoin portfolio say in the next ten years, I think you will not bother what the price is now because whatever the price is, you will always buy so you will be able to achieve your aim. If you have this relaxed mindset, you will be able to approach Bitcoin in the right way.
monitoring the market movement on a regular, won't be encouraging ones yah seeing your portfolio going down due to a certain dip the mindset of you selling would be initiated. Like when bitcoin dip to the price range of $38k I didn't bother checking my portfolio I just keep on accumulating more bitcoin, because you monitoring it always yah just testing your emotions. And beside not even thinking of withdrawing this year I may start atlest around the year of 2025 that why I'm actually focusing on learning more about this
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy. so that when I'm ready I would make use of this strategy
This is true, when I started, I remember how often I got tempted to try and sell when my portfolio entered good profit or when it goes deep into loss and refused to rise. It took me understanding of the DCA method and subsequent application of same to overcome this. Monitoring the price regularly is a bad practice for anyone that is investing in Bitcoin for longterm. I think more about getting more Bitcoin than what the price will be. This whole period of ETF pumps did not move me one beat because even though Bitcoin did X10 because of the ETF approval, I wouldn't have sold