Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
Maybe that's our problem when we invest in any coin and constantly check the price of what we buy and can't hold our emotions. There are many of us investors who invest for the long term and many who invest for the short term. Yesterday I also invested in bitcoin for a short period of time by selling when bitcoin was touching $69k and buying when it hit $63k.
Moreover, if one is a long-term investor, he can buy bitcoins at any time and wait until the bull market begins to earn his profits.
You are right Bitcoin is also an investor you can invest your money on coin , we are not into buying and selling some people are greedy because because some buys their coin in a lower rate for them to sell it and have at least a little as they could but they want it to be high before it says it some in that case they lose their money because it will be going lower not higher so it's better to sell it and have your money and that point that.
As a newbie investor, you may naturally have some doubts about Bitcoin. If you are tempted to learn more about Bitcoin, you should study more about how it actually works as an investment. Bitcoin should not be compared to other currencies because the important feature of Bitcoin is the possibility of you profiting financially by increasing your holdings over time.
You should literally assume that your efforts to save Bitcoin are from discretionary income. Short-term traders plan their investments according to the season and take a lot of risk with market conditions. A newbie investor can keep the pace of savings at any time without considering the time or price of buying Bitcoin from an alternative income stream.
You said that some people lose money, so it is better to sell and keep the money. The answer to your question is that as a new investor, you should start investing in Bitcoin according to your means by allocating discretionary income/extra money that you don't mind losing for the next 4-10 years. In fact, the most suitable method for saving Bitcoin is the DCA method. You can easily use this method as a long-term accumulation strategy
without any financial risk.You don't need to say that, their is always a risk attached to anything you are doing in this life due to uncertainty around the world today and Bitcoin is not an exception, though it has already been proven that since it's an asset that appreciate in value overtime, if it can be held longer, the risk factor will be shrinked to the bearest minimum which is obviously true, but regardless of anything, investing with an amount you can do away with for a very long period of time is the idea thing, so that when a dip like this comes, you wouldn't be bothered and your emotions wouldn't get the better of you, because since Bitcoin can always recovered and rally back to even better height, you wouldn't be worried because you know that you are holding it for the future not for short term gains, so even though the value remain down for an extended period of time, you wouldn't panic, because Bitcoin will always behaves like Bitcoin because it will always recover even if it doesn't recover as fast as expected.