Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
wxa7115
on 10/07/2024, 07:32:12 UTC
⭐ Merited by JayJuanGee (1)
First of all you sound like a trader from your statement. Bitcoin is not to be bought a hodli for few years because you are not going to make any good profit and you will regret your actions in future. The least year that bitcoin should be held is 4 years which is a whole circle and a newbie or a new investor will not just buy and hodli but will continue with his gradual bitcoin of his bitcoin stash by buying weekly or monthly using DCA method all the time for 4-10 years and above while he continues hodli his bitcoin.

The best way to invest in bitcoin is to invest in a very long period of time because that is only when you can make profit due to the compounding effect of your bitcoin portfolio overtime. A new investor like you might not be able to acquire enough Bitcoin or reach your bitcoin target within 10 years because as time passes by the price of bitcoin increases so reaching the fuck you status might take up to 20 years. It is only if you are after short-term profits that you will think 3 years is a long time.

edited
"Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years." Warren Buffett.

And that in a nutshell is what investing is about.

A great deal of all of those that consider themselves investors fail to meet its most minimum standards, with most of them being traders, aspiring traders or people that like to burn their money away, but whatever the case, it would be for the better if they stopped calling themselves investors, since many newbies read those kind of claims and mistakenly believe investing requires holding their bitcoin for a very short amount of time.