Re: Buy the DIP, and HODL!

especially since Trump supports Bitcoin, which is the first step for us to see Bitcoin reach $100k.

Hahaha, do you think Trump has the power or influence?

Trump-supporting Bitcoin is not an assurance or the first step for Bitcoin to achieve the 100k price. One characteristic of Bitcoin is that it doesn't need political support to be successful. As an investor, I believe that I have come to know the factors that can influence the price which are mass adoption (demand and supply), advancement in technological development, regulatory enforcement, and other economic conditions but political promises/fallacies are not for me. Instead of focusing on political promises, investors should be more concerned about informed decisions, research, risk assessment, and engaging in Bitcoin discussions to improve their knowledge of Bitcoin which will help them with their investment.

Quote from: Promocodeudo on July 21, 2024, 10:06:45 PM

When you say don't bag your egg in one bag, are you trying to advice individuals to be short-term investors which are traders or people should invest in altcoin?

What he meant is diversification into other assets. But in my own opinion, I will only advise an investor to diversify when he/she has a good Bitcoin portfolio because it doesn't make sense for one to have a small Bitcoin portfolio and choose to diversify into another more risky asset. I have never seen anyone get rich after diversifying by allocating a small amount into several asset. It is not about the volume of assets we have but the liquidity of that asset. Once we have attained a good level of Bitcoin in our profile we can shift to other assets we loved to and invest in them. Now our main focus is on Bitcoin as we have built a good standard entirely but we are diversifying to other assets to protect our investment so that we won't tap into our Bitcoin investment no matter what.

I agree with you that he was actually referring to diversification but we can only talk about diversification when your investment n Bitcoin has not yield any profit in the long-term, in such situation an investors may decide to try new things to know if they will be better than the existing one, although people can still diversify their investment when they have achieved a bulky portfolio or when they have attain a certain level of wealth but thats not always the case, investors are always looking at investments that add values with good potentials, am not against diversification but i somuch believe in Bitcoin and i think we shouldn't be skeptical about this digital wealth, for me am not diversifying anytime soon because I have not gotten a sufficient portfolio yet, for now my major concern is to keep accuamulating the little i can contimously without allowing any form of discouragement in my way.

We are saying the same thing here only that you feel it is better to diversify when you have already gotten profits from your first investment (Bitcoin). You don't have to wait for you to receive your profits from your Bitcoin investment before diversifying buddy. Imagine you invested in Bitcoin for 5 years and made good profits and then you chose to diversify into other assets because you are looking for a better investment, what if you ended up investing in some other assets that will make you lose all you have gained from your Bitcoin investment? Like I said before you can diversify when you have gotten a lot of Bitcoin in your portfolio (at least you have met your target). And if you are diversifying out of your disposal income, perhaps 70% of your entire income. You can choose to allocate 15% or 20% into other assets and these percentages can be split into several assets.

In case you don't know there are several reasons why investors diversify, the most popular one is to mitigate risk. But what would be a better reason to diversify if not to protect your Bitcoin investment? It is a matter of choice but anything you are doing don't do something that ill harm your Bitcoin investment and don't use your profits from your Bitcoin investment to invest in other assets you do not know about. Instead keeping it for longer terms is better.