Topic: help me not to leave btc (Read 900 times)

Well investing in Bitcoin for the long term is a viable strategy given its history and potential for growth. While guaranteed profits are not assured, Bitcoin's track record suggests it could be a reliable investment over time and embracing DCA would help too. It's just important to conduct thorough research and consider diversification in the cryptocurrency but avoid shitcoins.

Simple people must have an understanding of making a profit from any coin and if they are the type of person who doesn't like being at risk then Bitcoin is the right place.
Even though there are risks in investing in bitcoin, the profits have the power to recover and that is why people view bitcoin as a promising investment.
Other coins have big risks, especially if someone does not have the ability to analyze the coin's journey and this is the problem because people think they are looking for quick profits by getting involved in other coins.

For this reason avoiding shitcoins is a step to maximize losses because not everyone has the knowledge to analyze the journey of certain coins. If you think shitcoins can generate big profits then people need to learn more about getting involved in them.

You know, dude, this is just a friend's advice. No matter what belief you have in Bitcoin, whether you are deep or shallow in it, you must be convinced by yourself, not because of what others have told you to stay here.

Ours is like a second opinion, which is where you should first believe your belief in Bitcoin and why you want to hold it long-term. You should already know the answer to this question, and you should know what stance you have on Bitcoin. I hope you get my point, dude.

Bitcoin price will surely rise to the highest price again so it is not bad to invest in it for long term.  You won't get guaranteed profit from other coins and you won't get guaranteed profit from Bitcoin either, but with the history we have seen of Bitcoin in the past, it is expected that Bitcoin will not disappoint you in long term investment.  So stick to the fact that you avoid other sheetcoins and invest only in Bitcoin.  And of course DCA is a good strategy because it saves you at least one big loss

Don't focus so much on the moment, FOMO is always going to be an issue if we focus only on the small picture. It's better to take a step back and look at the whole story. We should remind ourselves where the bitcoin journey started and that it's not going to end any time soon. The bitcoin price had such a good last few months and seems to be holding his gains quite well. After the jump above 40,000 USD I was a bit afraid that many investors would take profits and dumb most of their coins. Luckily this wasn't the case and investors believe in higher prices in the future. There will always be a few people that need money quickly and will sell there coins when there is a good opportunity. For me, I would try to look at the bigger picture. We are still far away from the ATH, there is a lot of upside potential left in the market. Also, the halving is coming up next year putting more pressure on bitcoin to rise. On top of that is the economic outlook for 2024 not that great, if there are issues with economy or another crisis, people will have to put their money someone. Selling stocks seems like the instant reaction, but cash is not attractive with the high inflation and gold is at it's ATH. Crypto currencies and especially bitcoin seem like the only real alternative.

I think it's easy for you to stay on the main path to continue using BTC as an investment option. and when you use DCA as a strategy, consider it periodically with allocation of funds that are truly free, meaning it is connected to other needs and continues to be updated, where spikes in BTC prices in the market can always occur.
     

after 10 days now  , have you decided what to do or what is your stand now? because you seemed to be overreacting to how those Memecoins acted and even calling them Skyrocketed , do you even understand the word Skyrocket in crypto?
and also I wonder why having second thoughts in bitcoin , how long have you been holding your bitcoin and from how much have you bought them?
because Bitcoin even have its own High Jump from 20k level and now to 40k and growing so how much are we talking here?
that you are being bored in bitcoin to be in altcoins?
that is the problem with people who does have trust in what he seems to believe , sad but reality .

Since you know that bitcoin is superior than every other coin you have to stick to this mindset , I think this is evidence for you to know that it is best to invest in bitcoin than other coin. If you make your research and check bitcoin market history it is a proof to see bitcoin is most preferable coin to think about to invest. Invest in bitcoin and you won't get dissapointed if you hodl for the bull market which will yield profit for your investment.

I'm not aware yet that those coins you mentioned are now sky rocketing. I guess I'm too much focused on Bitcoin, and then it only happened earlier, so not many people in the forum are posting it yet. The reason on why it happened were maybe because of BTC's performance nowadays. It's also rising consistently and reached this far (its current value which is at $40k something).

If you think a FOMO is coming, then don't join it, because it's not good. But what you think about BTC right.  There is nothing wrong with your mindset. Just continue that mate, and I'm sure you will be successful soon on this venture you are having now. And yes, you can do a DCA if you haven't yet.

I think each risk just needs to be understood without being afraid of it so that it makes other people feel reluctant to invest in Bitcoin. Because Bitcoin is a very good currency and is able to provide quite a lot of profits to those who have invested in any trend to date, so there is no need to be afraid of risks because in all jobs in terms of seeking profits there are always risks. So we just need to understand it so we can take steps to avoid it when the market trend starts to change for the worse, but if you are still very patient with that risk, I don't think there is a need to avoid it like people who panic.

op I agree with you. Because the best way to invest is to invest in Bitcoin. But you have to keep in mind that Bitcoin is risky. When it comes to Bitcoin investing, you must have a long-term plan. Long-term planning with patience is very positive for Bitcoin Binos. Best of luck to you of course

Bitcoins aren’t for beginners to be honest. You are easily getting lured by other coin’s mini price jumps. Just do a little analysis and you yourself will see what Bitcoins are capable of. I know Bitcoins haven’t given sudden returns like the other alts are doing but still the ROI is great if someone has invested in 2018 or so. You need to also understand that the amount of returns with less days also come with high risk of getting into losses. Hence staying loyal to Bitcoins will be fruitful. These coins are limited in numbers, so buy and hold it for long term to yield the maximum profit.

Investing in Bitcoin requires nothing more than the mindset you currently have. However, whether you choose to use the DCA method to invest in Bitcoin is entirely up to you. But in case of DCA if you earn weekly then invest weekly using DCA and if you earn monthly you can invest monthly. DCA Investment depends on your income amount weekly or monthly.

Cold storage is a good solution for a long term storage, so for someone who is patient and not constantly looking at price charts. OP is showing a mindset closer to a day-trader, someone who is chasing quick profits. He should probably sit himself and have a think on what is he trying to achieve by holding crypto and how much risk is he comfortable with. Otherwise he'll be in almost constant distress of not knowing if and what to buy and when to sell.

I can personally relate and I can tell you for sure that it's usually not easy to look away from those shiny altcoin specially when they seen to be doing more Xs than bitcoin.
And personally, I wouldnt say that it's completely bad to invest in them, but for a newbie who is just getting started in this space, investing in altcoins is usually a risk do not want to take, since Bitcoin is always a safe heaven and it's very hard to lose money in bitcoin.

So, what I did say is that, you just look away and give all your attention to bitcoin and bitcoin alone, you don't need any special kind or type of mindset to ignore altcoins and focus on bitcoin, it's a matter of decision, that is, what exactly you have decide to do and you are determine to stick to it.

And speaking of DCA, this, I believe should depend solely on how much you earn and how you earn, for example, if you have your own business and earning every day, then you could set out a percentage of your profit and use it to buy bitcoin every day, but if you are working and earning every week, or monthly, each time you get your salary, decide how much you wanna take out and buy bitcoin, and also remember to set your target at what price range you should be comfortable buying from, until bitcoin leave or grows above that price range completely, then you can decide whether to stop and hold what you have, or find a new price range and continue buying.

If you Invested in bitcoin then you're safe as long as you're not risking your financial asset on altcoins you're not sure about, bitcoin will always exist and appreciate by rising up to a new level, the additional advise i must give you is to allow yourself be in control of your financial asset by not keeping your money on centralized exchanges, move them to a cold storage like Electrum wallet, blue wallet or get an affordable hardware wallet, not your keys not your coins.

Aslong is Btc don't bother yourself that much. You already holding right? So there's no issue just keep holding it don't let FOMO affect your investment. Yeah is better to just invest all your funds you have for investing in Btc alone that will ensure you more profit with lesser risk comparing to other coins.

Btc halving already at corner so just exercise more patient because this investment is surely a long-term investment almost after all Btc halving Btc always experienced a great bullish momentum.

I totally agree. I would say to that young boy to use wallet of satoshi when he decides to buy bitcoin using lightning network.

This kind of mindset:

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If you think BTC is going to hit a new ATH, DCA isn't the perfect strategy, because it will take a long time until you invest a considerable sum of money in BTC. If you have larger amounts of funds right now to invest, don't wait too long to purchase BTC and don't invest in low dosages, rather buy and accumulate the maximum you can in a safe wallet you have total control over your coins.

But remember: I'm saying this in the scenario you mentioned, that is Bitcoin close of a new ATH soon. However, if your budget to invest is limited, do DCA as usual. It's better than nothing and the best you can in your currently conditions. Just take it easy with your investment not asking too much from yourself, as you had the world over your shoulders. Do your part and expect for the best.

The solution is easy. You just have to compare the advantages that Bitcoin has with the advantages that Altcoins have. From here you must have understood that Bitcoin is definitely superior. For example, bitcoin is decentralized, has a small supply and has a very high market capitalization. So if you understand just these points, I am sure you will definitely stick with Bitcoin and will not switch to Altcoins. Apart from that, don't doubt your own confidence in Bitcoin. Because even though you understand the points I wrote, if you still don't have total confidence in Bitcoin, you could be influenced by Altcoins.