The secret power of successful HODLers is — giving time and overcoming fear. One of the biggest mistakes in investing is losing patience and looking for quick profits. Many people when they buy Bitcoin, want to make a profit within 1-2 months. But in reality, big profits come when they give time.
You have to give time to understand the market cycle,
Bitcoin or any major asset does not grow continuously, it has its own cycle of ups and downs. A full bull-run can come in 1-4 years. They understand why they invested in Bitcoin not only for the price, but also because of its technical, financial and philosophical importance. This confidence helps them overcome fear, have a positive outlook even on the negative, and be firm in their decisions.
If you buy a dip and wait for the price to rise after a few days, then it is not HODLing, it is trading. These two qualities together make it the secret power of successful HODLers. Over time, price fluctuations combine to create an average price, which is safer than buying everything at the wrong time. DCA is a very effective strategy for those who want to reduce risk and build wealth safely on a long-term basis.
With patience, planning, and market knowledge, they have made huge profits by buying Dips. Buying Dips without a plan is like riding a train without knowing the destination — sometimes you will reach the right place, sometimes you will get lost in the dark.