Having a knowledge about what Bitcoin is all about is very important and necessary before investing in Bitcoin, Bitcoin is an asset that has come to stay and would remain here, But in order words Bitcoin is a volatile asset in as much as we know all of this we cannot predict the price of Bitcoin and the Successful nature.
Because of the Volatile nature of Bitcoin it would be more wise to invest in Bitcoin because of the Successful nature of Bitcoin, accumulating on a regular Basis is very important for someone who has a goal of accumulating for a very long term and also to HODL, For someone who is a newbie it is advisable to invest using DCA method and try to have a plan of accumulating and hodl, or we can buy and accumulate fraction by fraction and also hodl for a long term.
Having the basic knowledge about Bitcoin is what we need to kick start investing in Bitcoin, while learning other things with passage of time. Because of the Volatile nature of Bitcoin it would be more wise to invest in Bitcoin because of the Successful nature of Bitcoin, accumulating on a regular Basis is very important for someone who has a goal of accumulating for a very long term and also to HODL, For someone who is a newbie it is advisable to invest using DCA method and try to have a plan of accumulating and hodl, or we can buy and accumulate fraction by fraction and also hodl for a long term.
But in the end of the journey, HODLing will make 90% of plebs more profit than "trading".
Cold Storage in an offline computer has saved me from panic selling. during the market crash of 2021 and 2022.
The longer that we are in bitcoin, the more likely we will end up having bitcoin that are in three forms of storage of:
1) cold storage - that we do not touch - except to add to them from time to time and maybe moving them for security purposes
2) medium storage - an intermediary between hot and cold - that we might just use for managing and keeping some coins that we might move into hot or cold storage from time to time.
3) Hot wallet - these can be exchange wallets or even other kinds of spending wallets - and yeah, if we are in our earliest of accumulation stages, we are not spending much of our bitcoin, and if we do it may be spend and replace.
As our bitcoin stack gets larger, it is most likely that our hot wallets would only be 3% to 7% of our total bitcoin holdings. Sure in the beginning when our bitcoin holdings are small, we may well have larger percentages of our holdings in hot wallets, such as exchanges, yet even after a year or two in bitcoin, we should be getting to a point that our hot wallets are either within a 3% to 7% range or moving into that direction.
With bitcoin as well rest of the altcoins every dip is an opportunity to make an investment. Very few make use of this while majority of the users just keep hold of the assets for the bull trend. To make a good profit out of bitcoin it is a must to move along with the market than just holding focusing on targeted growth.
Very true but basically trading seems tactical unlike any other making scheme because when you're not getting a verified information about the market trends, it tends to disrupt the process of you gaining profits talk more of investing in the long run. Though long term investment are sure jackpots so buying and hodling can be a very taunting decision to make. Considering how bitcoin moved from $80k to over $100k in few days or weeks, you’ll agree that, someone might buy bitcoin with hopes of making 20%, regardless of how long it will take despite’s the volatility of the market, what this very holder is focused on, is achieving a 20% return and the moment this goal is achieved, it’s at this point, not really a bad idea to take profit or set another goal and as much as holding bitcoin for long term seems safer, that should not mean that, we shouldn’t make use of good opportunities when they present themselves.
Yes.. the traders might be able to lock in their returns and get 20% or even more, but then they will go to a waiting stage in order to figure out their next entry point, and they may well have had been way better off to just keep buying bitcoin and wait it out 4-10 years or longer... and surely the data shows historically that bitcoin has provided returns that would be difficult for any trader to beat... especially the longer that a person has been investing. Of course, in the short term, there may well be periods that the bitcoin trader does better than the bitcoin investor, and so then some folks do not have enough patience to be an investor and they cannot figure out a position size that won't cause them to want to tap into their bitcoin investment at various times along the way, and so then they are likely going to end up with inferior results, and yeah, after 10 years, there is no way to turn back the clock and to go back and to redo the mistake of fucking around with trading rather than investing,
...and then perhaps some traders never learn, they continue to trade because they always think that it is too late to invest.. and yeah, investing takes time to play out. .and the investors in bitcoin have tended to be rewarded, even if there is no guarantee that they will continue to be rewarded into the future, but it also was not guaranteed that the guys investing into bitcoin 7-10 years ago were going to end up in such a great position today, as long as they errored on the side of accumulating bitcoin by ongoing buying bitcoin and holding their bitcoin rather than fucking around with selling and then ending up selling too much too soon and ending up with way fewer bitcoin as compared with the guys who were accumulating bitcoin by ongoing, persistent, consistent, regular and perhaps even aggressive buying of bitcoin..