Quote from: wxa7115 on Today at 08:27:17 AM

Quote from: Bananington on August 04, 2024, 03:40:59 PM

There's no profits that you can get in investing without waiting. For those who don't want to wait they can learn to start trading and get profits when they get their trades right but if you want to become an investor, you must learn to have patience. The price of Bitcoin might have taken a blow as the price is now below $60k but we shouldn't lose hope because when it starts to rise back, there'll be no stopping of Bitcoin. We have to think of long term before investing in Bitcoin or we shouldn't invest because thinking short term will make us losers in the long run.

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Despite trading and investing being the two only ways to profit from the markets, they are diametrically opposite on their approach, with trading rewarding a reactive approach, in which a price movement that is considered to be large enough by the strategy used by a trader, means the trader will open a position in favor or against that movement, hoping their prediction about the future movements of that asset are correct.

However an investor is encouraged to take an active approach, in which regardless of the short term fluctuations their portfolio may experiment, their analysis regarding the asset in which they are interested takes precedence over everything else, so they keep buying more of it, now whether they do this by buying constantly regardless of the price, DCA, or they wait for the price to go down and take advantage of it, buying the dip, is irrelevant for the most part.

It is because of this I believe people should take a decision early on about what particular path they want to take, since a person that was unsuccessful as a trader and now wants to try to become an investor to see if they can get the results they want, will have a great deal of issues adjusting themselves to the new demands investing will ask out of them, since every time the price of bitcoin moves like it did recently, losing 12% in just 24 hours, it will cause in them severe doubts about what they are doing and it is likely they will sell all their holdings in a year or two, and soon enough they will go back to trading.

I just love everything you've pened down here because what really differentiate an Investor from a trader is there reaction to Bitcoin price movement. While one easily gets moved by sudden event and selling becomes his immediate response, the other doesn't become bothered about the market conditions as such but rather ceases such opportunity to built up a better portfolio. A lot of persons with the mentality of getting quick profit from Bitcoin would become worried at thus dump and it's already reflecting with the kinds of post that's flooding on the forum. It's good to establish your position as regards if your fully ready to invest in Bitcoin for the long term or just trying to gather a few profit within a short span of time. If you're ready for being involved in Bitcoin for the long term, then the mentality has to change to a position where you accept that along your investment journey, you're going to see a whole lots of ups and down and that regardless of how low it gets at some point, selling a particular holding you've acquired is totally out of the plan.

Apart from the additional feature Bitcoin has grown to possess which makes it a viable asset, owning Bitcoin is too precious to let go of just because of a market condition. The dump Bitcoin has witnessed has affected every asset in the decentralized system and it's not even as though the worlds economy is currently doing too well. We've chosen the part of holding our Bitcoin throughout these phase and throughout whatever will happen in next couple of years because we're investors. we don't sell untill it's necessary to.