The fact that Bitcoin is $103, I feel that is a brainer for people who are struggling to invest, there are some investors who will see it as a great opportunity to sell and make profits: But instead of deciding to sell now, I think it’s a grate opportunity to keep investing and accumulating consistently because we never can tell what the future holds for Bitcoin, The volatile nature of Bitcoin has made it a successful asset to invest and hold for a long term purpose. I don’t think there is any reason to sell now, but instead right now is to continue accumulating until we have over accumulated. Now is definitely an opportunity to keep stashing and accumulating consistently and aggressively.
Everyone has a plan in making investments and generally buying bitcoin will be long-term rather than engaging in short-term, although some people also engage in short-term to make a profit. Now the recovery momentum is starting to show a good direction and in conditions like this I am more inclined to hold than sell. I have a small question in these market conditions and maybe you can explain a little about the accumulation strategy in the current market conditions.
This is important as a step to know the pattern you are using because if someone does not have a large capital, buying in an increasing condition like this is not very appropriate unless you are one of the long-term holders whose focus is only on consistent accumulation.
Many people are into bitcoin to make quick money, that is why at this point many people we resolve on selling their bitcoin which I think is really not a good idea considering someone that is interested in long term investment, at this point for someone who probably doesn’t have enough capital like you mentioned it’s best to use DCA method to accumulate on weekly and monthly basis considering your expenses and having a discretionary funds you can accumulate not withstanding being aggressive. And should ensure to be consistent because the market is unpredictable, and focus more on long term accumulation, in as much as everyone have there plans of making investments, building a portfolio for a longterm investment is more vital.
I think you're missing the points, a long term investor in Bitcoin wouldn't want to sell his Bitcoin at an early stage for minimal gains. Long term investors are not after quick money in bitcoin. They're long term holders in Bitcoin with a long term commitment to steadily accumulate Bitcoin and Hodl for a long time. In rare cases, when a long term investor sells parts of his Bitcoin portfolio at an early stage,is when he has emergency situation that requires money and his bitcoin investments was the only option he had at the moment,he will definitely wants to sell parts of it even at loss because,he wants to solve the emergency situation he had at hand. This why as a long term investor,while starting your accumulation journey using discretional income,you must have it at heart, that you must setup an emergency funds to take care of any of emergency cases in the future. It's not necessary you must setup your emergency funds immediately you start your Bitcoin investment,but at least 3 months is an enough time to do it because it's very important.
In addition, people that always venture into bitcoin for quick money are traders. Traders don't have that long term patient to Hodl,they are simply interested in every little profits they can get from trading Bitcoin, you will see them stressing themselves mentally when monitoring and trying to predict the markets. In most cases,they end up loosing all their funds on the process.