i am aware we all have different strategies and goals for our investments but i am sure that a lot of us are planning to hold bitcoin for the long term and it got me thinking what ways could we do to prevent us from being tempted to sell our bitcoins and spend it on unnecessary things
one way is writing off your bitcoins as not yours. that money is not yours to spend. just forget about it. the more you look at it, the more you will just want to sell it especially when you see the value of bitcoin.
do you also do this and does it really work for you?
I have never used such a strategy to hold my Bitcoin and I am not sure how much such a strategy would work. In fact, holding Bitcoin requires a patience where most investors fail. Because no matter how long we invest in Bitcoin to hold it, somehow we are forced to sell our Bitcoins. Maybe because of a financial crisis or maybe to spend on emotionally unnecessary places. But if you can't convince yourself that Bitcoin is a valuable asset for the future, then you won't be able to hold Bitcoin using any strategy. Because you will always panic about the current situation and sell Bitcoin, and at that time you won't think about the future because your mind will only think about the present. And the reason for this is that you haven't understood the valuation of Bitcoin until then.