Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Road to 100k?
by
Tungbulu
on 08/09/2024, 00:18:25 UTC
⭐ Merited by JayJuanGee (1)
In any event, I otherwise stand by whatever points that I made in regards to your suggesting that either BTC trading is a good idea or that selling BTC is a good strategy to accumulate more BTC.. especially for bitcoin newbies or perhaps even anyone in their first bitcoin cycle.  One of the best strategies in BTC is to largely focus on accumulating it for a decent amount of time, and frequently it takes a long time to accumulate BTC, except for some folks who are able to front-load their BTC investment because they have other assets or otherwise available cash to use for buying BTC.  An overwhelming majority of people are not so liquid (including rich people),  so an overwhelming majority of normal people take time to actually establish a meaningful position, frequently 1-4 years at minimum, yet it is probably even more common that they are going to need more than 4 years to establish a meaningful position if they might be wanting their BTC investment to help them to reach something like fuck you status or something close to that.
I totally agree with your points on trading and accumulation of BTC for beginners or first-time investors.

The best strategy is generally to acquire Bitcoin in the long term in the absence of large amounts of cash, and stock. This method enable one to develop a relevant position step by step usually over a longer period of about 1 to 4 years, or even more in some cases. (As you've rightly stated)

It's very crucial to note that front-loading a BTC investment is virtually impossible for nearly anyone, even those with a great deal of capital, because of lack of liquidity. What's more realistic is the process of accumulating Bitcoin and gradually building up your portfolio over a period of time so as to avoid the risks of the market and timing.

To achieve a desired “fuck you status” or some significant financial status through BTC investment, one must be willing to be patient, remain disciplined, and devise a proper plan.
It's always crucial to:

1. State objectives and level of risk: Most people are aware of what they want and the risks they are willing to undertake in the process to get it, this should infact be the case for every investor.
2. Invest a fixed amount of money on regular bases (DCA)
3. Diversify your portfolio (if necessary, but this isn't always necessary)
4. Always stay updated on event occurrences, but remember not to act on impulse.
5. Understand and be ready for the change and instabilities in the market.

if the strategies of long-term accumulation and restraint are followed in the Bitcoin market, people may be more successful and achieve their financial objectives.