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Sometimes people caught up on fantasy that they can earn once they trade and became pro but they forget to know that it need full time or full attention so if they can't put their presence on their trades then there's a high chance for them to lose. That's why its never recommended for the to do it and that means trading is not for everyone. That's why there's other option that can take by busy persons or regular dudes which it doesn't need heavy technical skills and the only thing they can do is to have some plans for future then accumulate then wait for many years for bitcoin to increase its price. Although there will be a lot of challenges but if they gain experience for doing it and financially prepared for sure they can be successful on their HODL plan. At early stage of their career trading is been introduce for sure these guys will realize that to hodl bitcoins is more better option rather than trading it regularly.
Well if the trend of bitcoin is generally up (which surely seems to be the case from history and there is no real evidence that it is going to stop), then if you are selling and waiting for down, you are just being greedy, and the down may or may not end up happening, but if the trend is generally up, then there are decent odds that the down won't happen, and you will end up selling too much too soon, so even if you had gotten lucky on several occasions, it may ONLY take one time of bad luck to wipe out all of the prior gains.
Absolutely! Bitcoin's history has demonstrated that its price can fluctuate dramatically. While the overall trend has been upward, this is not guaranteed to continue indefinitely. Attempting to time the market by buying low and selling high may appear to be a wise decision, but it is ultimately a gamble. You might be lucky a few times, but one bad call might wipe out all your winnings.
Investing in Bitcoin should be considered a long-term plan. Focus on the larger picture rather than attempting to predict what the price will do in the short term.
So people can do what they like, even dumb things and even screwing up a mostly HODLing and accumulating system that is bound to be considerably profitable.. but for some reason, part of the problem is the desire for even more profit than is already likely to happen through following a more straight forward strategy.
You're right! When it comes to investing, especially in a volatile market like Bitcoin, it's all too tempting to become greedy. People can become so focused on the prospect for large profits that they lose sight of the larger picture and make decisions based on emotions and FOMO rather than logic and strategy.
The irony is that by attempting to time the market and earn even more money, many investors wind up missing out on returns that would have resulted from a more disciplined, long-term strategy.
Surely during times like this many of us feel better if we had already bought and accumulated bitcoin, yet we might feel in a kind of dilemma if we don't have any BTC or we don't have many BTC, so in that regard, we end up being forced to buy if we want to benefit from the possibility (and probability) of more UP - even though psychologically it can be a bit difficult to establish a stake. At the same time, once one establishes some kind of stake in bitcoin, then they are at least more prepared for UP than they had been without a stake..
Buying and holding Bitcoin can be a bit of a mental balancing act, especially when the price is rising. On the one hand, not owning Bitcoin may make you feel like you're missing out on possible earnings. On the other hand, it can be difficult to make the decision to buy in when price is already high. That's why it's important to remember that Bitcoin is a long-term investment, so we should always try to see the broad picture. Purchasing and holding even a small amount now could yield significant returns in the future.
Once you've purchased some Bitcoin, you'll likely feel more invested (literally and figuratively) in its future success. This can result in a shift in mindset—rather than fretting about short-term price fluctuations, you may begin to think more long-term, paying greater attention to industry trends and potential new Bitcoin use cases. You may even find yourself delving deeper into the realm of bitcoin, learning about it and blockchain technologies.
Essentially, purchasing Bitcoin can begin a path of discovery and growth that extends beyond simply holding a piece of digital asset.