Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: HODL bitcoins, you can do it! Look at HODL camp map to build up strong hands
by
Gormicsta
on 11/02/2024, 20:05:16 UTC
⭐ Merited by JayJuanGee (1)
[edited out]
People who have Hodled Bitcoin for the past 10 years I believe can confirm this, because there's no way they could've made any losses, except maybe their wallets were compromised or something, but if it's loosing funds to the market, I doubt it's possible. I stand to be corrected.

There are always ways to lose money and past performance is not a guarantee to future results, even though you are talking about anyone who mostly held their coins more than 5 years is in profits, and these days anyone who DCA's for any period of time (more than a month or two) would be in profits so long as they were consistently buying simiilar quantities of BTC at regular intervals over the whole period of time.. such as weekly.

Of course people are not necessarily consistent, so if some folks might have front loaded their investment at various times in 2021 when the BTC price is higher than now, then it would not be clear how much they would have had to continue to invest in DCA and perhaps other tactics in order to be profitable at today's BTC prices.

Yes, I agree that past performances do not guarantee future results but we can agree that Bitcoin is the most established Crypto asset with the highest capitalization thereby giving some sort of advantage because there's only one out of a million chances that Bitcoin is going to crash or that it's going to dip and fail to recover. Again,  when we say past performances doesn't guarantee future results in Bitcoin, there could be exceptions when you're investing for the long-term, whether using the DCA or Lump Sum.

Yes, when it comes to DCAing, consistency is crucial. You won't truly reaping the benefits of DCAing if you simply buy when the price is high and sell when it falls. Additionally, I believe it's important to keep in mind that DCAing is only a method that might help to lower risk and possibly improve profits over time and not a guarantee of profit because anything can happen in the world of bitcoin.