Bitcoin is always the best currency to invest in. If you invest in Bitcoin now, you will forget about that investment for some time after the investment. And only keep an eye on bitcoin price when it crosses 100k, because we all know and believe that bitcoin price will definitely go above 100k. If you look at the Bitcoin price chart for the last few days, you can see that the price of Bitcoin has increased amazingly in the last few days. So you invest and hold without panicking. And never think to selling.
Even if one tends to sell, it depends on how much they must've accumulated and hold overtime. Though there have been some misconceptions about investing in bitcoin and some other coins but just so they know Bitcoin is the way out and moreso the price of Bitcoin will always change and at such affect the market trends.so no need to panic while buying and don't sell loss cause of some panic attacks of the price change.
You have spoken well. Self-correction in Bitcoin investment is a hot topic. The main reason why many people lose confidence in controlling market movements is because they are not able to control themselves properly. Bitcoin is a long-term investment. It is important to keep this in mind. It turns out that the price of Bitcoin suddenly reached $200K or $300K, so you cannot decide to sell. You must wait for one or two cycles to pass. If you cannot hold Bitcoin for two cycles, then you will be deprived of the real taste of Bitcoin. Do not panic, but invest regularly with patience and also arrange to hold alternative funds to solve your current problems.
The first thing an investor does is to be patient.
I think the first thing an investor should do is identify if he has discretionary income, then if he does, he sets an accumulation target and identifies how much he would allocate into buying bitcoin consistently and how much goes into building up his backup funds. Additionally determining his long-term holding period should be among the first things to be done.
And to hold the investment for at least 2 cycles from the cycle in which he is investing. If someone sells the investment after getting a small profit from it, then he has nothing to do but regret it later. The longer you hold your investment, the more profitable you will be.
Holding is good, but I think continuity in accumulating bitcoin is very much important and it can make holding more feasible. As long as you are holding, you should be enlarging your portfolio continuously until you reach your accumulation target and even get to over accumulation status
, if possible
, still within your holding period.
Doing so would motivate you to only fancy enlarging your portfolio and holding would be easier and feel naturalNo investor ever wants his money to go to waste. So they decide to sell the investment in panic due to excitement, they think that their money may be lost. But if he can immediately decide to hold his mind firmly, then he will be able to profit.
The investor actually wastes his opportunity when he sells in panic and worse still if he sells in loss, then he wasted both opportunity and money. Nothing beats long term investment into bitcoin, maybe erring investors can learn better and stop wasting this golden opportunity to secure their financial future.