Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Dailyscript
on 01/03/2024, 06:12:02 UTC
⭐ Merited by JayJuanGee (1)
Taking profit from your Bitcoin investment is not something bad and worth debating since all purpose of investment is basically to get profit at the very end of investing. During this profit taking one should understand a simple terminology like this one, firstly who holds longer makes the best profits, then why collect profits too early if your goal as an investor is to make steady profits with your investment, taking some profits after separate cycles is not bad as per if the need for it occurs.
I disagree with the idea that whoever holds bitcoin longer takes the highest profit; instead, whoever holds the most bitcoin takes the highest profit. Even a short term investor can make good profits if what he has in his portfolio is greater than the number of bitcoins a long-term investor has. I would rather say expecting a huge profit should depend on the amount of bitcoin you have been accumulating during your buying stage if someone has to seel. This is because even if you hold 100$ of bitcoin for 5 years, don't expect to see 30k$ dollars in profit. On the other hand, if you have been able to invest up to a whole bitcoin in two weeks, within 5 years, i am certain that you may see at least 100x of bitcoin reaching 100k of which your profit is about $50k plus.

This is why I don't agree with the fact that people should sell if they have not bought enough bitcoin to expect a high profit. Some people are just propelled to sell because people are talking about selling. Don't forget that these people who have been preaching about selling may have bought almost 1 bitcoin or more in their portfolio and they still have the money to buy more, but you are still struggling to even accumulate up to 10k bitcoin yet you want to join the train to sell.