Quote from: Ndabagi01 on June 21, 2024, 08:30:41 PM

Quote from: Cryptohygenic on June 19, 2024, 01:03:04 PM

As a beginner to this bitcoin market, I have understood that long term investing and holding is most beneficial to investors that short term holding.
But I being a beginner, I might not be affordable to hold too long because I have read about investors holding their coins for over 4 years.
Although I might be reprogrammed to long term investment in the future but I need to be practically convinced in reality based on what the market hold for Investors on long term and short terms.
As being speculated of all cryptocurrencies, they are all volatile so I am set to take my profits whenever I can and then the outcome potentials while I am Investing in this bitcoin industry would determine if I will have to hold for long. I don't think I will listen to all that advices of holding longer. We are only here to make profits and face our today's challenges and also prepares for future challenges. So I don't think that investors on the short term goals are at the wrong side because the Speculation of long term holding is excessively making it feel like short term Investors are on the wrong decision

Nobody is saying that short term investment cannot be profitable for you but the chances of making that huge sum of money you’re anticipating to get when you put your money into bitcoin can only be realized if you keep them for a long term. The market is volatile and moves to any direction it wishes at anytime, but it is certain that after some certain period of time, a time will come that it will be on the upward trajectory that will be beneficial for all. That period doesn’t last long and it’s the bull period.

Between the bear season and bull season, a lot of changes happen when bitcoin can go up or come down within a short period, those are the times some short time investors get their profits from the investment and due to the high risk of volatility and been in the bearish period, that is why it has been advise to stick to long term investment rather than the short time the will make your investment worthless.

And no one is saying OP is wrong in choosing short-term investments, but we need to admit that long-term investments bring more benefits. We have heard many stories about people becoming rich through bitcoin but most of them are long term investors, there are no stories about people becoming rich or making huge profits by investing short-term investment in bitcoin.
Or like in recent days, bitcoin's fluctuations have a wide range and from statistics we can see that hundreds of millions of dollars are liquidated every time bitcoin fluctuates.

I also know many traders but I don't see anyone making profits in recent days. Of course, long-term investors cannot make profits with the current market situation either, but at least they don't lose money and their money is still intact. Short-term investing sounds attractive because we can make money immediately, but things don't work like that, short-term investing is like a trap for the market to take our money faster.