Quote from: justinlamode on Today at 03:36:27 PM

Quote from: Kelward on Today at 03:01:34 PM

Quote from: Cossyblack on Today at 01:08:49 PM

You will always find people who are timing the market,waiting patiently for the price of Bitcoin to go up for them to sell for quick profits. I believe the sole reason people invest in bitcoin is to make realistic profits from holding bitcoin as a store of value but selling too early isn't the right way to get some huge profits out of the system. bitcoin was built in a way that work best only by investing for the long term,that's why traders that tries to outsmart the market for quick profits often run in losses because they are gambling instead of investing for the long term.

It takes discipline to be a long term investor, it's not everybody that can be diligent enough to be taking money off there discretionary funds to be buying Bitcoin for many years. There will always be distractions along the way like when price hits a new ATH. They'll be tempted to sell forgetting that Bitcoin has the potentials to always reach new ATH.

If you know what you are aiming for, a target you set from the beginning or early enough, you will not even be bothered by price reaching a new all time high. The problem most people have is looking at the dollar value of their Bitcoin every now and them instead of setting their target on the quantity of Bitcoin they want to accumulate. If you set a target of having 2 Bitcoin probably before you reach 40 years, why will you be bothered about selling when the price rises? The price will never matter to you because you have a target of 2BTC in the next 10 to 20 years assuming you are 30yr or 20yr old now respectively. I thought about this and I realized that setting my target on Bitcoin and not the price will help shield me from the temptation of selling too quick when I see high prices. I think you should consider that and see how everything will become easy for me.

You are right , A good plan or discipline brings long term mindset not everyone can be think of long term they always focus on short term orientation, as a new investor you should diligently think of setting your goal on long term. discretionary funds can be use to purchase Bitcoin for long term. sure distractions might be there , if you look forward the way the price of Bitcoin is , it has hits a new ATH.not knowing Bitcoin has the ability to leave for long term.