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
It's not necessary to hold Bitcoin long-term. To my mind, the best approach is to focus on catching the best moments instead of holding them like a gold stone. I can tell you my personal experience. I held Bitcoins from the 2017 year till the 2020 year. Then, when the price started rising and reached a certain high level, I decided to sell my coins. Then I saw the opportunity that buying and holding of BNB would be the best bet for a high ROI, which I did. I sold and bought BNB multiple times but sold them finally when the price reached 600 USD. Then I thought that the market would crash because the price was significantly pumped up and I risked and opened a short position on futures against BNB at 600 USD. At first, I was frightened because BNB went up to 700 USD but then gladly, soon there was a huge crash because China banned Bitcoin mining and at the same time, Elon Musk made a negative announcement about Bitcoin. So, my short position gave me a great profit but soon I closed it and then invested in Matic because there was a big opportunity, this coin was rising despite the fact that Bitcoin and altcoins were falling.
Long story short, this is not the right path and is full of extreme moments, my head was exploding with excessive thoughts during those times. That's why I prefer long-term, just sit, relax and wait.