Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
Bitcoin is very volatile; you can buy Bitcoin today, and the price can drop in the next few minutes. This doesn't mean you have lost the value of your Bitcoin or that the price will continue to fall and won't rise again. You have to understand volatility before investing in Bitcoin. If you don't understand it, you will always have problems with when to buy Bitcoin and when to sell. There is no perfect time to buy Bitcoin; you can always buy Bitcoin at any time, and if you do, you need to hold it for the long term. If you have made a good profit while holding, it is up to you to decide when to sell.
When an investor understands these volatility issues, he will definitely be able to hold Bitcoin for the long term. To achieve success from Bitcoin investment, one must first change one's mindset, since it is a volatile asset, so to hold the investment effectively here, one must prepare a mindset to avoid volatility. Bitcoin never dumps permanently, it dumps for a short period of time due to volatility, so it is not a matter of panic, but if someone does not understand this, then he can easily panic at such times and put Bitcoin investment at risk by making wrong decisions. Therefore, it is definitely necessary to gain general knowledge about Bitcoin so that at least one can understand this volatility and never make the wrong decision to sell the investment.
Is a simple logic when bitcoin deep in value your bitcoin will also decrease in value but not in number. So when bitcoin decrease there is no need for one to be scared or panic aslong is bitcoin, because your stash will remain there no matter how the value the dip your stash will remain same as long you don't sell from it .
And you can even gain more if you buy when the price is down , which will increase your stash more because you are buying at lower price rate . Which may increase your return in a long run but to hold for long one had to be well disciplined.