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?
If we are talking about Bitcoins specifically, then I would say there is no perfect time to buy the coins. If you have money to invest then just invest and buy the coins irrespective of it’s price. As bitcoins are limited in numbers and we know the price is going up day by day. Regarding other coins, then always sell a buy and sell target. Buy the coin when the price reaches a certain price and sell only when the price is in your desired range.
I have seen many people who are afraid to invest but they are interested in investing. Again, there are some investors who wait for the cycle that if the price is high in this market, they will buy Bitcoin cheaply in the next cycle market and start investing. This is their wrong idea, because you are going to invest in the best currency in the market or Bitcoin. Now, the more you start your investment journey, the more you will fall behind. Because Bitcoin is limited, if you have the money to buy in this cycle, then I want to say invest in Bitcoin now. Because you may not get such an opportunity in the next cycle. Buy now and hold.
If you can buy the Bitcoin you invest now and hold it, then this investment can be a shining star for you in the next cycle. There is no best time to invest, the best time for you is when you start. You only have to invest with money that you will not need in the next 2 years. A holder's patience is the source of his strength, because he can only make use of his investment when he can be patient and hold the invested Bitcoin.