Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
RockBell
on 01/10/2024, 21:08:01 UTC
⭐ Merited by JayJuanGee (1)
I think it is ignorance that make people save in the bank rather than to invest in Bitcoin cause if someone is aware that they'll make more profits even much more than what they're investing monthly or weekly in space of 4-10 years then they'll prefer it to saving in the bank that's always affected by inflation.
Bitcoin investment is just better than leaving our money in bank, but the fact is that we can’t completely avoid banks for now because we still need them for our daily transactions, as bitcoin is not generally accepted yet, and also if the money we are planning to invest in bitcoin will be used within a short period of time, then it’s better the money is just left in bank, because after buying bitcoin with it and you decide to sell it back after a few days or weeks, you might already be at a loss, and you won’t have choice but to sell it like that. So the money that I do recommend people leave in bitcoin is money that they won’t be using for a long time.

Even though the price of Bitcoin do depreciate an investor cannot lose everything completely and would still recover when it appreciates again, so far the person continues investing periodically.
If we make a bitcoin investment, then it should be for the long term. I think that’s just the best, because no matter how bitcoin price goes down, if you just have patience and you can hold, then the price will bounce back, even if it’s going to take time, so just invest for the long term and make use of DCA strategy when investing.