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?
Seriously, it is not easy to hold Bitcoin for a long period of time, as different things will always cross our minds especially when the price of Bitcoin has increased well and someone has made some profit from it. As a volatile asset bitcoin is,sometimes makes us think that if we don't sell now, the price may drop soon Or we might think we should sell at that particular and buy back later when the price drops. But before we know it, we start spending the money.
However, I will say the reason why many of us always want to sell even before the time we planned to sell our bitcoin is because for a lack of trust that many people have for Bitcoin, despite their investment in it. Another point again is that when we use money we may want to use in near future and invest it in Bitcoin, we always want to sell once we see small profits from our Bitcoin investment.But with a good mindset, we can hold our Bitcoin investment for a long period especially when we invest from our discretionary funds.