Re: Buy the DIP, and HODL!

Quote

I have a friend who is into Long term Bitcoin investment when ever he holds his Bitcoin and Bitcoin hit a certain price he was always tempted to sell little and he will, that was how it was for him until he decided to have a price target which he wants to reach with Bitcoin and that was how the temptation to sell when ever there was an increase in Bitcoin price stopped.
So I think having a price target with Bitcoin will help you hold your Bitcoin very well without the feeling of selling, it will increase your patience level.

Your friend was a scalper and not a long term investor of bitcoin as you called him.

I disagree on this, though you are right that his friend is not a long-term investor but he's also certainly not a scalper. If you read the definition of scalping, you will understand this well, and I've never heard of scalping in investing but in trading.

What the guy engages in is not totally condemnable, as the practice, if used well will deliver massive success into his account. I don't buy the idea of keeping my Bitcoin for so long again, I invest and divest at the right time to maximize my profits. I've two portions of Bitcoin investment, I HODL some since 2022 and I started investing and divesting the other part regularly since last year. I tell you, the one I regularly invest and divest has grown so much more than the one I HODL.

Why spreading bad energy in a thread that’s dedicated to buying and holding bitcoin for long. If you don’t believe in buying and holding bitcoin for long, then what the hell are you doing here my friend. I Think it will be best you stay clear off the thread and go to other threads where people like you are. I find your statement problematic and misleading to the audience of this thread and newbies who believes in holding bitcoin for long. I don’t fucking care about the few bucks you think you might be making at present that’s making you think you are doing the right thing and discrediting holding bitcoin for long. But don’t come here and say things of this nature in a major thread like this, that’s mostly dedicated to long term hold.

I bet you didn't read his statement with an open mind rather than trying to paint him as a bad egg for pointing out the approach he has used that has worked well for him. Mind you that while we've always emphasis the need to HODL for a longer period of time it is because of the effect it will have on how much Bitcoin we would have stacked if we DCA for the said period of time. It's not as though every investor must follow that pattern. And note that it's not just about how long you invest but more of how much you invest. We are all different and can choose to make use of whatever approach we dim comfortable with and if it's working well for us, thier isn't a single negative energy with sharing such information so we get to learn from it.

He's rightly pointed out the importance of holding Bitcoin for the long run and maybe by reason of his financial capabilities, he's able to combine building a portfolio by the use of the DCA methord and was able to afford selling at certain instances which might have worked well for him. For the rest of us that don't have the financial means of trying a multiple of those kind of strategy out, that's obviously not working out well for us but You can't dispute the fact that we are not dealing with an ideal case here where Everything we've planned on doing will go out as smoothly as we expect. There are individuals that plans HODling straight up for the long run but ended up selling part of thier holding at certain point in time. It's good to talk as people that aren't robots but that are actually doing what we are saying on this thread. I believe that Newbies that joins the thread will even enjoy reading people's experience which will guide them to make a better decision.