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?
That is why it’s always advisable to buy and hold for long period ,
you can only get the value of Bitcoin when u buy and it could be for a long term or a short period.
It's only traders that think and act this way, when dealing with Bitcoin, you must be thinking long term, anything other than that is trading, and trading your Bitcoin investment for minimal gains wouldn't take you anywhere. In my own opinion, the best way to go about your Bitcoin investment is to buy regularly through the DCA accumulating strategy, and try to accumulate a very good stash of Bitcoin for like 10 years or more, because your stash of Bitcoin is what's going to determine how profitable and successful you might be in your investment, so try to think long term when investing in Bitcoin because that's the best way to get the best possible result out of your Bitcoin holdings.
everyone is certainly different, some trade btc for the short term and some don't, but of course the decision is in the hands of each. but it is true that short-term investment or short-term trading will certainly produce small profits except for those who have very large capital, the profits will certainly be large.
but yes, it is true that if we invest for the long term, for example 10 years or more, then with a little money we will definitely get big profits, especially if a lot of money is put into btc, it will definitely be even bigger. as long as the money used to buy btc is money that is ready to be lost and of course we must have an emergency fund so that when investing it feels comfortable and will not interfere with our real world life and of course the btc we hold will potentially not be sold because we have emergency funds.
yes I agree with you and indeed the dca strategy is one good way to accumulate btc and of course we will not look at the price when buying because the most important thing is to focus on collecting btc.