Quote from: Miles2006 on May 23, 2024, 05:37:57 PM

Quote from: lalabotax on May 22, 2024, 09:47:11 PM

Quote from: Promocodeudo on May 22, 2024, 08:17:02 PM

There are people that like fast profit, It is not only the newbies even old folks fall to this category too, yea Bitcoin investment is not meant for shorterm purposes because shorterm does not come with the benefits thats accompanied with bitcoin investment, there are old investors that utilizes every opportunity, once they notice any dump they buy, any little appreciation in the price they sell immediately, no doubt buying when Bitcoin price dips is good but that shouold not discourage anyone from buying whenever he or she is ready, investing in Bitcoin is continuous process thats has no limitations whatsoever.

People who like fast profits, they must choose trading. If they invest in Bicoin, it is mostly for a long term holding. However, if people hold Bitcoin for a short term, it can get profits as well. But the profits must be not very significant. If you bought Bitcoin when the price dropped to $60k few weeks ago, you must take profits now. The current price is around $69k - $70k, there should be some profits to take.

So it actually depends on the goal. If the goal is for small profits, holding for a short term is no problem. But if to earn huge profits, you are right that investing in Bitcoin should be for a long term.

Trading is not guarantee, trading is not just done without a proper knowledge but rather before venturing into trading the person should be prepared to face loss cause trading is not guarantee 100%. I don’t know why I keep seeing profit attach to short term investment plan because there’s no profit at the end rather the investment will no longer stand, if anyone should follow the step you mentioned then the person is gambling with their investment and gambling with bitcoin is not guarantee as sometimes the market will not go as plan and everything turns to be a mess and loss. All this still depends on an investor planning and knowledge as one should take time and plan gradually with the mindset of a long term planning and be guided not to fall into false teaching and predictions.

The moment an investor decides to trade his coins, the mentality of long term investment is far as gone so because the unsettling urge to continue with the process when he by got profit would always be on his head but the sad truth is that it's actually going to end sideways because there must be a time when you hit a loss and that can result in you chasing that amount of funds lost just like gambling and with this mentality everything would simply be different. So it's better to probably to stay off and have an ideal plan that's gonna help you gather profit and then maybe sell off portion of your Bitcoin after the bull and refill again by simply buying at a very low price when the bear market comes