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Merits 1 from 1 user
Re: Buy Buy Buy or Sell Sell Sell?
by
Justbillywitt
on 01/10/2024, 14:07:23 UTC
⭐ Merited by JayJuanGee (1)
Dude you are sounding like trading is a crime which is very wrong and again the way you are emphasizing on it can make someone who's into trading look stupid.
It hasn't been said that trading is a crime, I think you are just the person making that up. I think that the message he was trying to pass across to you is that a valuable asset like bitcoin shouldn't be subjected to gambling in the name of trading. It should be something that if you manage to accumulate it, you should hold it for a long time.
Quote
after all I have seen someone who's trading and at same time doing investment and trust me everything is going smoothly for him and I keep asking myself how is that possible and then realized that everything is about mindset and having the ability to make it work. not that he doesn't make loss off cause he do make loss.
Someone who is an addicted trader can hardly keep his or her bitcoin for long term. Because the moment he sees a little profit from the one he said he is holding for long, that trading mindset of quick profit will set in and make him sell it off, with the hope of replacing it later. As a trader you will find it difficult hold bitcoin for long the way a long term investor will hold it. There is no in-between it's either you are a trader or an investor. So let's stop deceiving ourselves. When we say long term we ain't just talking about one or two years here, we are looking at somewhere between 10 -20 years and above. Someone who already has the trading blood in him will struggle to hold bitcoin that long. No matter how you try to refine it, a trader is a trader.

Exactly... long term and investing is likely 10-20 years or more, yet frequently we refer to 4-10 years and above in order to include the possibility and consideration that there might be some people who might have shorter time-frames due to their age or their health or perhaps some other kind of life event that might cause them to have to sell in a shorter timeline.. So young people who are saving up bitcoin in order to take short-to-medium profits, are not thinking long term, and sure there are likely some intermediary ways to consider your bitcoin holdings, such as wanting to buy a house in 6 years or some kind of consumption good like that - even though many of us have probably realized that it is not good to sell all of your bitcoin, even if you might end up cashing out large portions of it based on some personal living goals..
Now I understand more better why 4 years is considered as long term for holding bitcoin investment. I had never considered age and health as a factor that could influence how long some investors could hold their bitcoin. And you are absolutely right, because an old investor who is already 80-90 years old wouldn't want to hold his investment for as long as 20 years, because at that age such investor could die at any time due to his age. So in essence people that fall into this category tends to hold bitcoin on a shorter duration. So you people who are fit and still have a reasonable number of years ahead of them should be the ones holding bitcoin from 10 years and above to actually see more profit from their investment.