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.
You’re right. Selling off bitcoin at the sight of profits is extremely a bad practice because I could remember early this year when Bitcoin hit $100k, so many who don’t understand the fundamentals in holding bitcoin sold off there bitcoins. They couldn’t keep up with buying now that it’s high and has caused so many pains to them. So short term buying and selling shouldn’t be supported in as much as we know that Bitcoin is the future. Anyone who wants to be a successful Bitcoin investor should always embrace holding Bitcoin for a longer term, and not selling off when little profit is being made and DCA method will help in accumulating bitcoins at any point of of once life. Bitcoin is the future and long term investment is the goal.
It is not bad for an investor to invest in Bitcoin in the hope of making a profit
, but you have to remember that you have to reach a point and then thinking for sell it, Still
, you shouldn't plan to sell this valuable asset of yours halfway. Set a period of four to ten years. You should continue to save regularly throughout your working life.During this period you will continue to accumulate Bitcoin regularly using the DCA method. The fundamentals of Bitcoin is that you will continue to accumulate regularly from your financial stability as well as discretionary income. This will not only help you to avoid financial problems as a family also to have a large stack of Bitcoin for the future. What is especially recommended in long-term investments is to invest the amount of money that you are able to afford to lose. The DCA method is a strategy through which you can continuously deposit Bitcoin from the discretionary income that is left over from your family expenses every week or every month.