Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: One Beauty about Bitcoin investment.
by
Frankolala
on 12/08/2024, 10:27:48 UTC
⭐ Merited by JayJuanGee (1)
If you are investing for Bitcoin for long term, you don't have to check the price daily or weekly just save your seed phrase in a good secure place and delete the app from your phone. And you can check the price just once a month.
Or set alarm to receive the price of bitcoin whenever there is fall and rising. And when the price down then buy more to fill the wallet.

Did you just say delete the app? To me, that is not the best solution to keep your bitcoin for a long time. Expect if you find it hard to achieve your goals due to a lack of patience or fear of losing. There are two things to apply. Even when you find it hard to be patient about your investment or you always have the fear of losing in you, all you need to do since you are investing for a long time is just to fix a year, time, and date that you will like to withdraw, and when the time reaches then you can see if your profit is there or not. That is what I call achieving your target the negative or positive way. The most important part is don’t be afraid of losing because you know the risk and you wish to join.
 
One year investment is not a long-term investment but a short-term and that is when you might run at loss as a trader when the market goes below your entry point. Long term investment means investing for at least once bitcoin circle and above for example 4-10 years and above with your regular DCA buying to increase your bitcoin portfolio overtime. There is no one that will plan to achieve a negative target because we are all investing with positive mindset to make profit in the future.

deleting the app will make you want to withdraw your money when you see a higher loss or when you have an emergency, so to me, that is not a nice idea.
You will only sell your bitcoin because you didn't use the right amount of your discretionary income to invest in bitcoin or you don't have an emergency funds available to take care of a real emergency when it happens or because you are a trader and not because you deleted the wallet app. However, if your investing with DCA, you need your wallet. You will only run at loss when you sell your bitcoin but if you don't sell it, your bitcoin portfolio will recover.