Quote from: Pablo-wood on February 08, 2025, 10:41:04 AM

Quote from: SOKO-DEKE on February 08, 2025, 09:46:52 AM

Quote from: sotelorene on February 07, 2025, 10:43:14 PM

That is exactly how it is suppose to be, holding for a long period of time before having a thought of selling but it appears that some people have made up their mind to buy and sell whenever there is a little profit and hoping to buy back when the price drop although it may look like a strategy for them but trust me it is not the best approach to Bitcoin investment and most of these people don't use what they can afford to let go that is why when they buy at a certain price they will have a target where they want the price to reach before they will sell and whenever this doesn't go as planned and they used what they can not afford to let, they will sell even in loss and this means that you are going backward instead of forward.

Those set of people that always have a mindset of selling their Bitcoin anytime when they see some little profits in Bitcoin I always consider that type of people as traders. To my understanding, they are not investors. If someone can't hold Bitcoin for certain years before thinking of selling, they are traders pretending to be investors, and this kind of people hardly make it from Bitcoin.

Having a mindset to sell when the price of Bitcoin rises and buying back when it falls this method has made some people lose more opportunities because the price of Bitcoin may not fall to the target they set.

As you said, the best approach to Bitcoin is investing in it, not trading it. In fact, trading exhausts much of people’s time, time which could be used for other hustles that could bring in more money to continue accumulating Bitcoin.

One can still be a trader and investor at the same time. Now imagine someone who has a certain amount and decided to split it into two maybe of equal ratio or maybe of different proportion such that a certain fraction goes for investment and the next for trading.

Accumulating Bitcoin with a single strategy might not work out fine all the time because as humans we are bound to have problems and challenges and no one can predict the future. In the cause of investment a problem might arise that will want to clear up the investment we have been trying to build. But if an investor trades as well they can take quick profit reinvest in other side businesses and this might help discipline them not to consider their investments as immediately problem solving approach because they have built portfolio across two different businesses approaches.

Don't take it because you want to solve your unexpected problems that may arise during your bitcoin accumulation journey and get distracted into trading bitcoin for short-term profit because it might have a negative impact on you, which will likely lead you to sell your bitcoin prematurely. There is what is called an emergency fund in bitcoin investment, and it is the money that is set aside before or after you start accumulating bitcoin so that if an unexpected problem occurs, you will depend on the emergency fund to solve the problem, which gives you the advantage to hold your bitcoin for a long time. If you have a steady income and you choose to accumulate bitcoin only with the DCA strategy, it will perfectly work out for you as long as you don't use the money that is meant to solve your daily expenses and invest in bitcoin, and I want you to understand that using one strategy to accumulate bitcoin has nothing to do with your life problems.