Quote from: michellee on Today at 11:19:25 AM

Quote from: Dewi Aries on October 08, 2024, 05:48:16 PM

Yes, basically it is a basic technique in executing the market which is simply buying when the price goes down and selling when the price goes up in the future, by looking at the prospects of Bitcoin's journey so far I think we will no longer doubt the asset because every four years we see Bitcoin reach its latest ATH which is usually the highest price achievement that has never been achieved and when we are involved by always leaving some money to buy Bitcoin before Bitcoin reaches that scenario then of course the maximum profit is likely to be obtained. At first glance this is a very tempting way and place to multiply money but of course we should not ignore risk management, simply try to always use some money that will not be used for important things in your life, because after all Bitcoin always has a risk side.

If people do that, they will have a chance to make a profit from the up and down. But unfortunately, people are too greedy expecting a big profit at once but they don't take a look closer to the market and makes them difficult to get it.

If they know how to analyzes the market better, they will see when they should takes profit and when to hold. Bitcoin price seems will be like this for some time because I see the price can go up and up then down or go up and down and down for more. But the price can go to any price without we notice.

The only chance for us to make a profit will be follows where the market go. If the price is down, we can buy it and holds and waits for the price increase so we can sell it. We must be careful of changing of the Bitcoin price because in this month, I guess that can happen very often.

Basically I say that Bitcoin is not the right place for you to treat the asset like other assets such as forex, you can indeed benefit from the up and down scenarios but it is very unlikely to get a big profit (unless your balance is equivalent to one Bitcoin), because we can see that in the short term the up and down of Bitcoin is only a few percent such as 5% - 15%, meaning this is an asset that is not right for scalping, and that is why many people say that if you want to get a big profit then you have to hold the amount you accumulate in the long term.

On the other hand, as a good investor, of course, you must have the right knowledge regarding how to execute the market at the right time and place, simply by knowing when is the right time to buy and when is the right time to sell, but if we talk about Bitcoin as the object, there will be a fairly long gap between the time to buy and the time to sell if you really want to get big profits, but on the other hand, of course, I will also advise anyone to always dedicate themselves to learning various correct market analysis strategies, but for Bitcoin, I think fundamental analysis is the most suitable.