Re: Buy Buy Buy or Sell Sell Sell?

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

The phenomenon you want to discuss here is actually a normal phenomenon, just because you sell doesn't mean the price of the Bitcoin or altcoin you bought has changed, these are all normal conditions in the market and getting the best time to buy is actually very difficult, you have to use a strategy in buying or selling, the point is to prevent you from doing stupid things like selling at a loss or buying under FOMO conditions, the DCA strategy is a good one imo.

Quote from: Hallroom on April 27, 2024, 05:27:43 PM

If you hold Bitcoin intensively, you can buy Bitcoin anytime, anywhere. Many people make many types of investments, short-term placements and long-term investments, long-term investments are made by many for 10 to 15 years. So I think Bitcoin is only suitable for long term holding, and other coins are not suitable.

Bitcoin is also very good to use for short terms, it's just that you have to have good timing when trading, the slightest mistake will only make you lose, again as i said above, the DCA method and buy the dip is a good strategy for long term investment in bitcoin.

And then there is need timing the market[8b/] that's why is good to use the best strategy to accumulate more Bitcoin by using the DCA strategy which helps you purchase Bitcoin at different interval at a fix time probably weekly or monthly so you won't have a high blood pressure by timing the market.

I actually don't get you clearly, but if am correct, you meant that their is a need in timing the market, before you make a purchase of Bitcoin, but to me, I actually think otherwise, to me it's a waste of time, because that's what traders do, not investors like us, that is only thinking long term, because as long as it's Bitcoin investment, in other to be successful, you need to be long term holder.

I know that the temptations of cashing out your profit during the bull run will be very tempting no doubt, but a good hold will keep on holding till his or her investment goal is met, but our major focus right now should be how much quantity of Bitcoin can we have in our possession, that's why we should be more committed in the DCAing, so as not to be left behind in building generational wealth.

Actually the part I highlighted was a misprint or typographical error what I meant there was that there is no need timing the market though I have edited it in my post thanks for making me notice the error.