Quote from: Justinapeter on Today at 04:49:58 PM

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Quote from: Briankimp1 on June 06, 2024, 11:07:58 AM

I believe this is why we’re here to raise concerning conversations and talk about ways to simplify investments and derive the best possible outcome, most new comers getting into crypto and buying Bitcoin come bearing the same thing in mind which is investing for a short period of time.

This only emphasizes the usefulness of this platform and threads like this aimed at educating investors on how to buy and hold which is the anthem of all crypto enthusiasts hoping to become mighty whales some day.

The discussion about bitcoin and put together with other cryptos can be confusing so when we discuss bitcoin then indeed the focus remains there because after all even though crypto is the initial discussion but in the end we are currently referring to one part in crypto, namely bitcoin and that's it so I think it would be better if it was only bitcoin that we discussed because it doesn't mean we put aside crypto but indeed the discussion will widen to other assets such as altcoins so instead of that happening it would be better if it only focuses on bitcoin.

In addition, I also disagree if this is only used as a short period because after all for some people who are in this discussion now they believe that the period is longer than that and some are even up to 10 years more although at this time I still set for myself is 5 years or more in the investment period that I want to do but in the end there are a lot of people who will invest in a duration of 10 years or even more and that you can see from some of the previous discussions so I disagree if you say being in bitcoin is only for the short term because in my opinion it is not an investment but trading if it is for the short term like that.

You are right and I will like to add by saying Everything that has advantages also has disadvantages, and the truth about anything someone wants to do And that is why we need knowledge to know more about their advantages and disadvantages. As for me, after my research, I think that holding Bitcoin for a long period of time is more advantageous than disadvantageous, and when they talk of holding Bitcoin for a long period of time, I don't think they are suggesting just hodling it for less than four years before halving, which always occurs every four years. I believe when they suggest holding for a long period of time, they are suggesting holding for more than four years so you can witness one more bull run.

Assuming you have been holding Bitcoin for over 12 years now, will you be making a good profit or not? Surely you will make a good profit. So when you hear people say hold for a long time, it does not mean years short, like two or three or less. You need to do your research and know the reason why they are saying that. The bull run is among the reasons why people are suggesting that holding Bitcoin for a long period is the best because that is when the price always moves higher.The bitcoin market is unpredictable, and the timing market sometimes will never pay because of the price fluctuating. Are you telling me that when the price is going up, we should buy, and when it comes down, we should always sell? That can even make you continue losing your money. What makes some people think of converting their Bitcoin into USDT is when they are panicking because they invested what they couldn't afford to lose but when you invested what you can afford to lose I don't you be that panicking.

If you are a small size of portfolio or you just started your bitcoin journey, there is no need to thinking of selling, and there is no specific time to buy. You are to buy constantly whether the price of bitcoin is dipping or pumping, in order for you to keep growing your bitcoin portfolio. DCA gives you that chances to buy bitcoin at different price level and that is why a new beginner should use DCA to stack up his bag.

It is when you have reached your bitcoin target and you feel that you have enough Bitcoin, you can sell a little part that will not affect your portfolio size. The best time to sell by then is in the bull run, but from what I have understand, if an investor was able to accumulate bitcoin for 16yrs, if he sells at the dip, he will still be in profit. This is because his average bitcoin price of his portfolio will still be in profit, because the dip price of bitcoin when he wants to sell will be higher than what he bought way back and also the compounding value will make him not to be in loss.