Good news for those who were little bit worried about the drop in the price of Bitcoin - today the price of Bitcoin has increased by about 5.8% and the current price is $93614.00, which is a 7.1% increase compared to the last seven days. Those who have idle money or have some extra money left after paying all the expenses for living or have any source of income from which you regularly get some extra money that you can invest in Bitcoin in the DCA (Dollar Cost Averaging) strategy, whenever you want, you can buy Bitcoin - this way your investment will gradually build up. Which will be a big investment in the future.
Hitting $94,000 is what we could be proud of seeing happening this time, because i must confess of not expecting it this faster, when there is lots of buzz on the internet already that the reason behind the fall is Trump and am still wondering if the same reason could be on why it pumps to this stage, but to be honest, i must wish all the loyal holders a hearty cheers on making some profits from this recent pump, they can still do more better by reinvesting when the market dips and then they continue in this pattern seizing every opportunity to invest and hold till they break even and make profits on their investments.
Hopefully guys are not trading their bitcoin, but instead accumulating bitcoin for a whole cycle or maybe two cycles, unless maybe they had been able to frontload their bitcoin investment and/or perhaps reach a state of overaccumulation early in their bitcoin investment journey.
It tends to take a long time to build up a bitcoin portfolio, and trading bitcoin (or anything else) is not necessarily going to help to build the bitcoin investment portfolio faster, but instead both put the bitcoin quantity of holdings at risk and also end up inspiring waiting rather than ongoing, persistent, consistent, regular and perhaps even aggressive buying practices, and so with bitcoin it has historically been better to just keep buying it without fucking around with selling and building the investment rather than to be employing waiting strategies, and selling is also problematic for anyone trying to build up a bitcoin portfolio because the point of selling may be to buy back more cheaper, but if the price does not end up going down, you end up with less bitcoin than if you had just kept buying, and then you also become a waiter rather than an ongoing buyer.
Accumulating BTC overtime could indeed be seen as a solid strategy, especially when you plan is to build a solid portfolio within the long term.
Trading/gambling can indeed also be tempting, but it comes with lots of risks, the uncertainty in trading is just too high, it’s not as if investing or accumulating Bitcoin doesn’t have its own risks but it’s a lot more manageable than that of trading/gambling because traders can easily get caught in trying to time the market, which of course we know has its own risks too.
For those who’s plan is to build a solid Bitcoin portfolio, then the best option and approach remains consistent BUYing and HODLing. If we tend to look at the history of Bitcoin, we’d notice and understand that Bitcoin’s price has always moved in an upward trend over the years/previous cycles. So surely, there’s every tendency that it may likely continue in that direction/trend, which means that the potential for significant gains via consistent BUYing and HODLing is pretty much high.
And it’s pretty interesting and commendable that you mention the importance of engaging in consistent buying practices. When it comes to investing in an asset with long term potentials like Bitcoin, it’s of utmost importance to have a disciplined approach to investing, as this is a great way to remain focused on their long term goals.