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?
In fact, when we buy Bitcoin, we should apply this principle: buy Bitcoin with money we can afford to lose. This will prevent us from selling Bitcoin before reaching our desired target. What I mean is, rather than treating Bitcoin as if it's not yours, it's better to apply this principle from the start, when you buy it, not when you own it.
If we apply this principle, regardless of market conditions, we can refrain from selling because we haven't reached our initial target, and we've changed our mindset to buying Bitcoin with money we can afford to lose. However, ultimately, it's a matter of mindset. If we truly think long-term, we can survive any situation.