Post
Topic
Board Bitcoin Discussion
Re: Knowing when to own your bitcoin
by
Youngkhngdiddy
on 08/04/2024, 18:17:28 UTC
Many people are making huge profits by investing in Bitcoin and holding Bitcoin Bitcoin is a powerful crypto coin and the first to emerge in the crypto era.  And it is designed in such a way that without any kind of owner control it will live only as long as the internet lives. That is why Bitcoin can be trusted freely and any amount can be invested here and that too for a long period of time.  If op is holding his bitcoins strongly then he must have been very profitable so far as the price of bitcoin has crossed $72k today.
   Since bitcoin is getting popularity due to inflation crisis all over the world, any day and any time of the day is best time to buy bitcoin. For a long-term investment, a particular hour does not matter since in the long run price will increase. For a short-term investment, keep in mind that bitcoin price hourly fluctuation has no regular pattern. If you believe in value prop of Bitcoin then it's always time to buy, put some money aside every 2 weeks and buy it which will average your cost, you can't guess ups and downs. If you want to make quick money by buying and selling at the right time, then no one can guess, and everyone who claims they do, they are lying. The problem now when we are in a bull market is not to FOMO as there will definitely be corrections on the way up. And when you see a such correction then it may be a favorable time to buy Bitcoin. Keep in mind that Bitcoin may go for a prolonged time without experiencing corrections especially in strong bull markets like the one we are now.
  If you believe in the long-term potential of Bitcoin and can afford to hold through market fluctuations, buying now could be a sound decision. Remember, Bitcoin has shown resilience and continuous growth over the years, often rewarding patient investors. However, if you prefer a more cautious approach or if you anticipate a potential short-term dip in price, waiting for a favorable entry point might be wise. Conduct thorough research, keep an eye on market trends, and consider consulting with financial experts before making any investment decisions. Ultimately, the decision to buy Bitcoin should align with your financial objectives and risk appetite. Whether you buy now or wait, remember to invest only what you can afford to lose and stay informed about the dynamic cryptocurrency market.