Quote from: Mayor of ogba on Today at 02:19:06 PM

Quote from: Onyeeze on August 10, 2024, 09:13:30 PM

Quote from: Woodie on August 10, 2024, 06:17:33 PM

The fact that am always reading about missed opportunities to invest in Bitcoin or crypto in general, I think the best advice will always be a Buy Buy Buy (crypto blind follower Tongue

)!!!
And already price had in the last couple of weeks experienced a bloodbath and crypto enthusiasts expected price to continue on this path...and if you were that kind of investor that went the DCA it would given you some short time profits in no time proving the "buy buy buy" strategy works as I see it to be some kind of hedging!!!

the essence of us buying Bitcoin when the price decreases if because we really want to make a profit for the investment but I know quite well not many people that invest in Bitcoin always think of making a profit.

I know a lot of investors will say they aren't holding bitcoin for profit, but I want you to know that almost all the bitcoin holders are holding bitcoin for profit when they have accumulated the quantity of bitcoin they want. Bitcoin investment is like any other investment that will yield a good profit in the long run if you get it right, and everyone who is holding bitcoin will like to experience this at the end of their investment. The reason why it seems that so many people are not holding bitcoin for profit is because a lot of investors are holding bitcoin for the long term. They don't like talking about profit because they know how long it will take them to sell their bitcoin.

Profit should not be the main focus of investing in bitcoin as a new investor so that you don't kill the zeal in you to invest in bitcoin in a long-term. A new investor should invest in bitcoin because bitcoin is worth using as a store of value. Inflation eats up our funds when it is kept in a bank and depreciates the value, for long and for that reason it is better put the money that you are keeping in the bank for long into bitcoin to keep the value of that funds for long period of time.

Before or till now a lot of people keep funds that they don't need in the bank for long because they believe that the bank is a save place to keep their money but they didn't consider inflation and these banks use your money for business without your concert and take 97% of profit and give you just 3% which means that they are using you to make profit. But bitcoin gives you that opportunity to be your own bank and keep your value yourself without anyone knowing it. You will have a reward for keeping your money in bitcoin just like you have those 3% of profit from the bank, but bitcoin is different from the bank because as the price of bitcoin increases overtime, that amount of bitcoin in your wallet will also appreciate because you are hodling it and at the same time balances up with the ongoing inflation overtime.

This is why a new investor needs to continue buying bitcoin with DCA consistently and persistently for long so that he can keep throwing his cash into bitcoin to preserve the value of his cash for a long period of time with benefits from the increasing value of bitcoin overtime. If you keep money over a long period of time, it is either the value will depreciate or appreciate and that will determine how you kept the money. If you keep it in cash, certainly it will depreciate but if you keep it in good investment, it will appreciate and bitcoin is one of the best investments that is worth putting value into for a very long time.

People or institutions will give out loans understand that the longer the loan stays in your hand, the lower the value and that is why the interest rate is always high based on the time duration of the loan. So why will a new investor not invest in bitcoin for the future to keep the value of his money and not because of profit. If you start thinking of profit, you will not be able to hodli for long because when you see a little profit you will be tempted to sell and become a trader.