Quote from: Tungbulu on May 07, 2024, 05:28:49 PM

Quote from: Smilevictorobinna on May 02, 2024, 07:42:34 PM

Quote from: JayJuanGee on May 02, 2024, 05:50:52 PM

Quote from: Smilevictorobinna on May 02, 2024, 07:01:28 AM

Quote from: JayJuanGee on March 16, 2024, 02:03:50 AM

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From the instance you gave I think i agree with you.

I have been trading Bitcoin for years now and I must say I have not made my desired profit, seeing this your write up has made me think of how successful I would have been if I was only investing on Bitcoin than trading it.

Trading of Bitcoin is in two ways which are winning and losing, sometimes you win and sometimes you lose.

If I had invested on Bitcoin for this good number of years I have been trading it I would have had good percent of Bitcoin.

However I'm not saying those that trade Bitcoin are not making it big but investing on Bitcoin will help you have a future investment but trading it will not give you a future investment.

For sure, we cannot necessarily know in advance in regard to which courses of action are going to pay off better, and surely over the years, bitcoin has been a kind of asset that has been valuable to accumulate, so those who have errored on the side of mostly accumulating bitcoin have done better than those who might have been focused on either accumulating dollars are maybe not very clear in regards to the value of accumulating and holding bitcoin, which likely is going to continue to be true... even though also we know that past performance does not guarantee future performance, even though bitcoins investment thesis seems to continue to get stronger.

Yeah, so is better to accumulate as many Bitcoin as one can than to trade it.
A lot of people are regretting but is never too late you can start accumulating it now little by little before you know it you have accumulated a future investment.
I know of a man who died but before his dead he gave his family his trust wallet phrase and when they checked they saw a good amount of Bitcoin and that changed the families life till date. so the best thing to do is accumulate Bitcoin is a big future investment.

HODLing has always been the best approach to me rather than trading, timing the market or any other approach when it comes to Bitcoin investment and it's also very important to always acknowledge that Bitcoin is to be considered at all time for its long-term potential.
Many investors who have HODLed Bitcoin for the long-term have enjoyed and are still enjoying the benefits of HODLing, and it's never too late to join the moving train.

The story of the man you just shared, who left his family the passphrase to his wallet which contained a significant amount of Bitcoin before his demise is an amazing example of one of the benefits attached to HODLing Bitcoin for the long-term.

It is a common understanding that investing in bitcoin for the long term will produce profits because the strength of bitcoin will look better if it is held for the long term.
But this applies to people who already understand the conditions of bitcoin's journey because there are many people out there who still don't believe in bitcoin as a step to achieving financial freedom.
Bitcoin is a source of strength in a bad economy and even due to the impact of inflation, Bitcoin is still one of the best assets that is able to maintain its value. That's why the power of bitcoin has been so tested that it has achieved widespread adoption and this happened because people saw the best opportunity that bitcoin had.

However the dropping of price does not do harm to bitcoin. It only makes it easy to stay in the game. Bear market is an opportunity for investors to invest more and fill their bags in these bear market. Also when the price is low, many new investors will join the game. They can buy low so that they can sell at a higher price. It also clears out the market from weak holders who disrupt the market flow. Overall it's not a bad thing. And in the long run, we are going to make profits anyway. So all is left to do is DCA and hodling.