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Topic: HODL bitcoins, you can do it! Look at HODL camp map to build up strong hands - page 13. (Read 2939 times)

MusaPk

full member

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Merit: 195

Quote from: tranthidung on December 25, 2023, 05:20:03 AM

I agree.

DCA saves time and headache but more important, it is more effectively than trading and other investment methods if you take your health benefit into consideration.

I just have a small working on DCA vs LUM SUM Profit.

DCA:
If you invest 100 dollars per week into bitcoin starting from Dec 27, 2019 to Dec 27, 2023. Then your total investment is 20900$ in Bitcoin and ROI after 4 years will be +119% or your total investment goes up to 24870$

LUM SUM investment and HODL:
If you invest total 20900$ in Bitcoin on Dec 27, 2019 and HODL for 4 years then today your ROI will be +505% or investment goes up to 105690$.

https://dcacryptocalculator.com/

Likewise if you go to https://dcacryptocalculator.com/ and play with figures then you will notice that Lum sum investment also gives good result if you are willing to HODL for longer duration.

tranthidung

legendary

Activity: 2170

Merit: 3858

Farewell o_e_l_e_o

Quote from: salad daging on December 25, 2023, 05:55:43 AM

I always record every bitcoin purchase on Coinmarketcap so that I know the average price purchased and the ROI I get now, so this is not too much of a headache for me. Grin

You are doing good practice but if any newbie is still curious and wondering that DCA is good or bad for their investment, they can create an account on Coinmarketcap and do regular DCA with their demo account. They will see DCA effects that are good for investment in long term but they will miss some time and chances to do it with demo DCA.

Quote from: avikz on December 25, 2023, 06:49:47 AM

Bitcoin is like bluechip stocks. The longer it stays in your account, the better return it gives. You can use any simple portfolio apps simi6to the CMC one. Keep it simple!;

Perhaps you did not mean it, your account, I hope it means your non custodial wallet, not exchange account.

Reminder: do not keep your money in online accounts

Quote from: hugeblack on December 25, 2023, 07:52:51 AM

The HODL camp map may be a non-illustrative map or we are not used to seeing it, so it is difficult to read, but its philosophy is simple, which is that profit is achieved within more than 4 years. Losses occur if you decide to buy after 6 months of halving with the intention of selling in the short term, so it is a representation in a way Or another for the 4-year bitcoin cycles.

Bitcoin market cycle is about 4 years but the map shows us an interesting fact, if hodlers can hold their bitcoins more than 5 years, they surely get profit so far.

Because each hodler can have different entry and exit time and consequent prices so they can enter at very high price, stuck there and if they only hold their bitcoin like 4 years, they might have loss, even it is very small chance to fall into that minor cases.

If they can think bigger than only one market cycle, longer than only 4 years, they will have a safer investment strategy and also get better opportunities to gain profit.

Bitcoin Profitable Days
% profitable days holding Bitcoin: 94.1%

GbitG

sr. member

Activity: 714

Merit: 288

Hmm, OP interesting Topic
Just as Hodl words are easily discovered, so it gives profit easily. Well, as you rightly said, Hodl can give you profit easily, like your name, i.e., words. Invest in BTC for long-term investment and enjoy life by earning a profit. By the way, HODL is a unique strategy that can give you a profit. However, even if you don't know much about cryptocurrency and know some basics, HODL can organize your profit. Just simply buy the Dip and HODL will give you a profit in return.

Anywhere when I hear about HODL, I am delighted because, from the beginning till now, I have made the most profit in HODL, i.e. Bored in Buy the Dip and HODL. I had also made a profit by diversifying his portfolio under DCA for HODL. So I was a little excited after hearing about HODL. Everyone else has their own choice; some prefer holding, some prefer trading.

hugeblack

legendary

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Merit: 3612

Buy/Sell crypto at BestChange

Sim_card

sr. member

Activity: 406

Merit: 360

Quote from: Barikui1 on December 25, 2023, 05:54:18 AM

I just want to add to what you have already said, holding sometimes can be challenging due to so many factors, but as an investors as we are, we need to look for a way to navigate our way in the crypto space for us to be successful.
I suggest we take a look at this thread I created about holding https://bitcointalksearch.org/topic/m.63316374

Hodli is very simple and needs less skill, which makes it the best way to increase your bitcoin hodling. As long as you know how to save money in a bank, which is a practice that many of us have tried in different times in our lives. Id you see that the money is very important to achieve something good, you will save it so that you can achieve your goal. This is the same thing with bitcoin, the money that you are saving in the bank, just use to to buy bitcoin and keep piling them up in your self custody wallet until you have reached your bitcoin target. It is good to have a bitcoin target as this will give you a better chance to increase your bitcoin portfolio and also be patient with hodli.

Aanuoluwatofunmi

sr. member

Activity: 532

Merit: 390

One of the best means to make a profitable Investment with bitcoin is when we decided to hodl the coin for some time, this is not because we are not interested about using it to serve for its purpose as a digital currency we use for making payments or as a means of exchange, but we wanted to hodl all because we also have the opportunity of using bitcoin as an asset we could Invest on hodl for a particular time to yield profits instead of turning a liability provided we have the tenacity for doing that.

avikz

legendary

Activity: 3024

Merit: 1496

Quote from: salad daging on December 25, 2023, 05:55:43 AM

HODL has become inherent among investors, for HODL is the power to keep adding to bitcoin holdings.

I still find it difficult to understand the graph here https://hodl.camp I am more another DCA calculation calculator as mentioned above, even so, I always record every bitcoin purchase on Coinmarketcap so that I know the average price purchased and the ROI I get now, so this is not too much of a headache for me. Grin

Yeah it's better to not get into all this technical staffs unless you really want to learn it. HODL should be simple. Just keep on accumulating and forget about them unless you have an emergency and you need the money at once. Don't ever check Bitcoin price on a regular basis. That creates a FOMO and people usually fall for it.

Bitcoin is like bluechip stocks. The longer it stays in your account, the better return it gives. You can use any simple portfolio apps simi6to the CMC one. Keep it simple!;

salad daging

hero member

Activity: 1624

Merit: 791

Bitcoin To The Moon 📈📈📈

Barikui1

full member

Activity: 182

Merit: 115

tranthidung

legendary

Activity: 2170

Merit: 3858

Farewell o_e_l_e_o

Quote from: MusaPk on December 25, 2023, 04:26:13 AM

You can also add this site to DCA list of websites.

https://dcacryptocalculator.com/bitcoin

Thank you. I know there are many websites for Dollar Cost Averaging but I did not intend to list all of them here but anyway, I am thankful for the information.

Quote from: JayJuanGee on December 24, 2023, 12:49:57 PM

I think that my point is to make sure that you do your own calculations, and sure there could be some reliance that the amount invested and the amount of BTC accumulated during that period of time would be in the ballpark of being correct,,,

I agree.

DCA saves time and headache but more important, it is more effectively than trading and other investment methods if you take your health benefit into consideration.

JJG has his thread on this investment strategy. JJG's Bitcoin Investment Ideas (Sustainable Withdrawal / Portfolio Maintenance)

Kemarit

legendary

Activity: 3066

Merit: 1352

Or maybe everyone should look at this list: (https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html)

And see where your current HODLing at and maybe you can project yourself where you want to be in that chart. So you can build your strong hands thru DCA and then in conjunction with this site, align yourself so best of luck.

MusaPk

full member

Activity: 630

Merit: 195

Quote from: tranthidung on December 25, 2023, 04:07:58 AM

If you don't like this HODL map, you can use alternatives like

You can also add this site to DCA list of websites.

https://dcacryptocalculator.com/bitcoin

Results from dcacryptocalculator and costavg converge and give more detail of DCA then dcabtc. For instance if you want to calculate DCA results of investing 100 dollars into Bitcoin every week for last 3 years or from Dec 25, 2020 to Dec 25, 2023 then dcacryptocalculator shows that you have ROI of +44.10% and costavg shows that you have ROI of +42% while dcabtc says you have a loss of 20%.

It's good to use these websites to have a quick overview but if you are accumlatng Bitcoin in DCA manner then always do calculations from your own pen and paper.

Quote from: JayJuanGee on December 24, 2023, 12:49:57 PM

tranthidung

legendary

Activity: 2170

Merit: 3858

Farewell o_e_l_e_o

If you are a Bitcoin investor, and read news on social media or in Bitcointalk forum, I am sure you already know about the term 'HODL'.

What is this and what does it mean?

I always recommend newbies to Search before posting and if they practice it, they will find some resources about HODL term.

[Guide] Searching effectively

They can find results in this forum or on other sites like Coinmarketcap.

I AM HODLING is where this term was born, by @GameKyuubi, in Bitcointalk forum.
Understanding HODL (Coinmarketcap)

Quote

HODL = Hold On Dear Life.

Above is for the first question.

The second question, for Bitcoin investors, can be explained with the following chart.

https://hodl.camp/
Click on some icons at the top right corner to customize color of the chart.
As of writing, the HODL line is 5 year and 1 month. This line changes with Bitcoin prices and with time, stay updated by using the chart.

I quote the guide from HOLD camp.

Quote

Welcome to Hodl Camp.

This is an interactive graph on the profitability of hodling bitcoin. Read the whitepaper here.

Time flows diagonally, from the upper left corner to the bottom right corner.
It starts on 2010-07-18 and ends on 2023-12-20.

By moving the mouse or tapping the heat map, you will traverse all historical entry and exit dates. Pin the marker by clicking and move around with WASD keys.

Moving vertically changes the entry date. Up is earlier, down is later.
Moving horizontally changes the exit date. Left is earlier, right is later.

Where the lines cross, the color shows the profitability, green for positive and red for negative.

The green scale is log10, the red scale is linear.

One pixel is one day. Zoom in () to see more detail. Zoom out () to see the bigger picture.
Drag or scroll to move around.

Next to bitcoin denominated in U.S. dollar, it's also possible to plot the price of bitcoin denominated in troy ounces gold (XAU). This eliminates the influence of price fluctuations of U.S. dollar and instead uses a hard money: gold.

Change the color map () if green/red doesn't work for you.

Now, let's see the chart with default settings.

You can click on the Eye icon to change color settings. Below are some of color settings and how it looks. Choose one color setting you like to use.

When you hover mouse on the HODL map chart, you will see Entry date, Entry price, Exit date, Exit price and Profit/ Loss. This feature is a quick tool to check profit, loss with an assumption that you buy bitcoin at a past year, hodl it like 1, 2, 4 years and how it turns out to be Profit or Loss for you.

If you don't like this HODL map, you can use alternatives like