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Quote from: Btcdeybodi on August 01, 2024, 06:59:05 AM

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Quote from: Odusko on July 31, 2024, 11:53:18 PM

that is why we always advice that bitcoin investors should set at least a 5 years investment plans so that at least with in that time, bitcoin price should have move above a significant amount that is way ahead and above your bought price.

That is a bit confusing. You seem to be suggesting that "we" suggest at least 5 years so that there are decently good chances that we will be in profits at that time so that presumptively we are going to be able to sell... You are not necessarily wrong, but you still are coming off as being in a long term trade rather than an investment, maybe merely because you are caught upon the idea of the need to buy the dip.. so I just get the sense that you have a long term trading mentality rather than really considering bitcoin as investing... even though you are using the term "investing" into bitcoin.

I thought as much also, you know some people thinks that investing in Bitcoin is just about taking profits alone, sure we still hope to take profits from our investments but our main targets is for a long interval of time because making investments in Bitcoin is like keeping an asset that will stand for long term future growth and also to sustain our beliefs in the existence of Bitcoin that is why our focus on Bitcoin is mainly for a long term purposes. Some people feels that basically because they bought Bitcoin at a DIP price that they can eventually sell off when the price is high but that is a very wrong investment mentality. Above all, we should remove long term trading mentality while making investments in Bitcoin because it hinders our growth as Bitcoin investors. The idea of buying Bitcoin at a DIP price and selling when the price is high is far off from the purpose of owning Bitcoin as all those practices are mainly the strategies of a trader rather than an investor.

You, me and all of us invest in the hope that we will get a profit from this investment at some point. Even if you invest with the expectation of profit, everyone has a different investment strategy. Those who are true investors will take the risk of money and wait enough time and sell their investment when they get enough profit on their investment. But there is a class of investors who start investing only after seeing the profits of others, but they don't want to see how much challenge and how much patience that investor has taken in pursuit of profits. We have to invest with the expectation of profit, but the investment cannot be sold within a few days after investing.

~cut out~

Having that mentality of taking profits at some point in your investments in Bitcoin will only leave you into being emotional especially when a DIP is happening, that is why it is not good to be too focused about the profits you can get from your investments because having that mentality will only lead you to the feelings of selling when you have realized some profits that is why we should not care much about the profits we gonna get during our accumulating stages until we build a portfolio that we will be proud of and since our goal is focused on long term definitely the profits will be achieved but let's not always focus on profits because it can stand as a distraction and can even make you to consider selling even when your investments is not matured enough.

Talking about investors who tend to invest after seeing the profits of others, they are traders in my own opinion since what enticed them to invest was the idea of taking profits but a real Bitcoin investor don't think about making profits yet at the early stage of their investments all they do is buy and Hodl.

Whoever is taking profit when he is still in his accumulation stage will only wreck his bitcoin size because no one knows for how long that you need to invest with DCA and hodli for long term before you will see good profits. Imagine a new investor that decided to accumulate bitcoin with DCA at 55k price and when bitcoin price reached the new ATH which was $73k and took profit because he saw little growth in his bitcoin stash. Now that bitcoin price has dip drastically, he will be at double loss because his original amount that he invested in bitcoin will have decreased due to this dip, and the profit he took will make it decrease more than assuming he didn't take profit at $73k.

The market is unpredictable and that is why a new investor should not put profit taking in his mind at all when investing a me buying regularly with DCA to keep building his bitcoin stash because taking profit is the most risky thing to do. It is good that before thinking of profit you have over accumulated more than enough bitcoin that taking little profit from your bitcoin stash will not even affect the generated profit from your overall bitcoin portfolio.

Thinking of selling at the early stage means that you want to turn into a trader, which is not good for an assest like bitcoin with high volatility and that seems like you are gambling instead of investing. One thing that makes me to hate selling part of your investment when you see a little profit is that you will still want to sell again depriving yourself from reaching your bitcoin target quick that is why a new investor must avoid whatever that will make him think of selling during his accumulation phase.