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
MusaPk
on 16/02/2024, 17:56:51 UTC
⭐ Merited by JayJuanGee (1)
You've hit the nail on the head when you say that one of the most crucial elements in investing in Bitcoin is time. Your chances of getting a good return on your investment increase with the length of time you can hang onto your Bitcoin. Similar to a snowball effect, your investment will increase over time. Additionally, as you mentioned, you'll gain more knowledge on how to maximize your investment over time. The misconception that most people have when investing in Bitcoin is that it's a get-rich-quick scheme, but that's clearly not the case and that if they just start investing in Bitcoin, they'd be rich in a month or two, and this infact is the actual reason why most Bitcoin investors go into the short-term trade and they end up loosing money and giving Bitcoin a bad name, they go all in without really having the knowledge of what they are doing and then at the end incur losses for themselves. Bitcoin is more of a long-term game, and if you really wanna rip the true benefit of Bitcoin, then going long-term will definitely help you achieve that.

Bitcoin investment is combination of knowledge and patience. You need to have knowledge about how to invest in Bitcoin to get good return. We have discussed many investment strategies here i.e. DCA, LUMP SUM and buying on dips. Which every strategy you adopt (or you go with all three) the key to success is patience or HODL for long term without it you wont see good results.

So yeah.. 4-10 years or longer would be a good way to think about any bitcoin that you buy to have at least that kind of timeline, so if you are DCAing into bitcoin for 6 years straight, then your earliest BTC buys would have had reached investment timelines of 4-10 years or longer,

You already have a post where 6 different Hypo's are discussed that gives good idea of where you are if you are accumulating bitcoin for last 10 or 5 years.

https://bitcointalk.org/index.php?topic=5132720.msg63394117#msg63394117