Topic: Buy or hold beginner - not only Bitcoin (Read 97 times)
You can't buy and sell at the same time at point B, trading requires proper planning alongside patience, it is not a good idea to buy a coin when the price has skyrocketed so high, it might incur a loss at the end of the day. It is good to invest in a coin when the price seems relatively low or has dropped down, then you can enjoy the value of investing into it, you hold on for a while depending on how long it takes and then you take your gain when it increases in price. Currently, the price of Bitcoin has gone up so high that it is not advisable to buy now, it is wrong to guess that a coin would continue increasing, when nobody knows probably maybe it might start decreasing in price. In order words, the coin prices are unpredictable at times because we never can tell what would happen in the next minute.
Don't look for small gains,if you hold it for a long time it may will give a huge profit.
If you have invested your money in top quality coins then you don't have to worry for that...
It will take corrections but in a long run you will be in good profit if you hold it...
If you have invested your money in top quality coins then you don't have to worry for that...
It will take corrections but in a long run you will be in good profit if you hold it...
The most important thing about holding or trading is to know when to enter and exit the market. Sometimes you shouldn't let greed get into you or else you could lose even the small profits you made.
The most perfect time to buy an asset if you are planning to hold long term is when the price has dipped, not when the price is soaring like ETH and BTC prices are doing right now due to FOMO. Anytime, a price correction can happen, and you may find yourself in an immediate lose.
Let me use my example.
I bought ETH back them when the price had dropped to around $120 because I was confident that it would rise to around $1,000 again at one point and yesterday it did. I have been holding for 9 months now without thinking of selling and buying in between the small rises and drops. If I want to cash out, now could be the perfect time for me, I don't have to be greedy and wait for $2,000 or $3,000 because $1,000 was my target. All I have to do once I have cashed out is wait for the next dip, buy and hold.
The most perfect time to buy an asset if you are planning to hold long term is when the price has dipped, not when the price is soaring like ETH and BTC prices are doing right now due to FOMO. Anytime, a price correction can happen, and you may find yourself in an immediate lose.
Let me use my example.
I bought ETH back them when the price had dropped to around $120 because I was confident that it would rise to around $1,000 again at one point and yesterday it did. I have been holding for 9 months now without thinking of selling and buying in between the small rises and drops. If I want to cash out, now could be the perfect time for me, I don't have to be greedy and wait for $2,000 or $3,000 because $1,000 was my target. All I have to do once I have cashed out is wait for the next dip, buy and hold.
is it better to hold and sell at point C, or sell at B, buy at B and sell at C?
Why would you sell at point B only to purchase back at point B again?The best thing you can do is sell at a higher price and then purchase at a smaller one. If you sell $300 worth of Bitcoin (0.01BTC) at $30k, with $300 you'd purchase exactly 0.01BTC back at the same price so what's the point really?
The worst part is waiting for point C, because you never have a solid answer about the way markets are about to move. Nobody can really give you a proper answer to the "hodl vs sell and wait for the dip" question, but the thing is.. Hodling BTC has always proven to be worth it over the long term.
Try not to follow your emotions. Emotionally-driven decisions have been the worst for me every time.
Thanks a lot for your replies. I will hold and add some sums regularly because I have studied ethereum and I think it has a future. I appreciate your responses a lot! Have a nice day.
My recommendation is that you buy and hold for the long term and don't try to time the market in the short term. You can mark a few milestones to sell partially, though.
You talk about Ethereum. Have you studied it? Do you think it will be more valuable in 5, 10 years? If the answer is yes, Hold.
With such a small sum, I would, as I said, hold, and I would try to add moremoney regularly. Trying to buy and sell with that small capital and the lack of knowledge you show, it will lead you in 99% of the cases to lose money.
I understand that you are maybe from a poor country or don't have much money, but if you've invested $160 that should be because you don't need them. Try to invest some more money you don't need until you gather a decent stash.
Buying and holding is more boring that trading short-term but it is more profitable in the vast majority of cases. Especially in your case.
You talk about Ethereum. Have you studied it? Do you think it will be more valuable in 5, 10 years? If the answer is yes, Hold.
Yesterday I bought ETH worth of 160$ when it was worth 800$. Now it is over 1000$ and I know it's going to rise even more by the end of the month. Is it better to sell it now for 1000$ and buy back as much as or hold it by the end of the month? Which will make more profit? Thanks a lot!
With such a small sum, I would, as I said, hold, and I would try to add moremoney regularly. Trying to buy and sell with that small capital and the lack of knowledge you show, it will lead you in 99% of the cases to lose money.
I understand that you are maybe from a poor country or don't have much money, but if you've invested $160 that should be because you don't need them. Try to invest some more money you don't need until you gather a decent stash.
Buying and holding is more boring that trading short-term but it is more profitable in the vast majority of cases. Especially in your case.
Yesterday I bought ETH worth of 160$ when it was worth 800$. Now it is over 1000$ and I know it's going to rise even more by the end of the month. Is it better to sell it now for 1000$ and buy back as much as or hold it by the end of the month? Which will make more profit? Thanks a lot!
I boldened the part which I thought to be a bit contradictory. If you are confident it is going to rise more by the end of the month, how do you plan on selling now and buying at that time? It won't be profitable. Shorting an asset means you predict it would fall in value and you'll get more of it for the same fiat equivalent. If it is on the rise, the best strategy would be to hold.
Hello, I'm new to trading and I started recently in cryptocurrency. I have a question. If I invested a sum of S in a cryptocurrency when it was worth A dollars, the cryptocurrency rises to B dollars and will eventually rise to C dollars, is it better to hold and sell at point C, or sell at B, buy at B and sell at C? If you would want an example for better understanding let's see the case of ETH. Yesterday I bought ETH worth of 160$ when it was worth 800$. Now it is over 1000$ and I know it's going to rise even more by the end of the month. Is it better to sell it now for 1000$ and buy back as much as or hold it by the end of the month? Which will make more profit? Thanks a lot!
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