People who are eager for quick and fast money are usually the ones who do this, they are short sighted and are not in the long game cos they lack patience. They are traders and it’s in their nature to want to make gains quickly, so I don’t want to say it’s all wrong move, so long as they’re making profits and their buybacks is always on a price lower than they sell. The problem is the risk is higher with this practice and you have to be looking at the price chart always (hourly, daily).
This practice is bad and should not be supported especially in a thread like here where there are many newbies and potential investors who are seeking information on how to go about Bitcoin investment the right way and not make mistakes. If we support people to sell at the sight of profits with the hope of buying them back, a lot of them will run into problems which will eventually cost them pain at the end of the day. Why should we support short term buy and sell when holding for long is the right way for better profits and more peace of mind. If we encourage more people to adopt the DCA method of accumulating Bitcoin and holding for long term like a decade and above, we will see more successful, rich and happy Bitcoin investors in the future. I think we should focus more on this than anything.
Talks and insights like this is why we regard the forum as a place of highly educative ground where people are grinded with the right knowledge on how to pursue their Bitcoin investment or accumulation process in a cool and calculated risk manner that will eventually yield maximum profit at a long run.
Sincerely, just as u stated earlier, I think setting in for the DCA strategy of Bitcoin accumulation and planning to hold for long is the real deal. With this plan already in your mind as a new investor or an already existing bitcoiner, Bitcoin depreciation will not really bother you that much because your initial mindset with which you entered the investment is to hold for long. This gives you a relaxed mindset to go about other means of livelihood while you keep pushing your investment with total assurance that though it my fluctuate due to its volatile nature, it will surely pay off positively as the year runs. Truly, Bitcoin is an asset