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?
You also need to know what coin the person bought so you can give them more informed advice and so you can make more informed decisions yourself. If the coin you're talking about is a regular coin, or in other words, an altcoin, I think it's okay for them to sell immediately once they see a more substantial profit. However, if they bought Bitcoin, it's best not to sell at this current price, as Bitcoin's price will still explode this year or next, as predicted by a supercycle. So, you need to know what coin the person bought, because not all coins will have the same fate as Bitcoin and shouldn't be compared to Bitcoin.
That's just the nature of coins, they are either appreciating or depreciating in value, never stable but always fluctuating which is why those who study the market with keen interest always find it easy to predict when there may be a possible rise in value, and that why it is also important to always study market before buying any coin, I think this is one strategy that many people neglect whenever they intend to invest in Bitcoin.
To invest in Bitcoin, I don't think it's necessary to study the market extensively because market conditions are always changing over time. What investors looking to invest in Bitcoin need to know are the facts that have occurred in Bitcoin in the past. After a price correction, Bitcoin always shows a much larger price increase due to the increasing number of Bitcoin buyers and enthusiasts over time. So, there's no need to waste more time studying the market, even though everyone should know this. However, once we understand the factors that can influence the market, we should be enthusiastic enough to continue investing in Bitcoin, rather than being afraid to invest just because of short-term declines and increases.