Topic: How to HODL for long. (Read 864 times)
Holding Bitcoin for a longer time is very easy if the investor is readily prepare to do so. Holding for long also required been patient and for an investor to succeed in holding Bitcoin for long he are she must be discipline he must set aside a discretionary income which will enable he hodl for long incase there is unexpected challenges that came you won't go and sell out your Bitcoin hodling. Also with the DCA strategy am investor can buy Bitcoin weekly or monthly inrespective of the price level.
As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings
Holding Bitcoin for a long period of time is really important in bitcoin investment because that is what can determine your profits. Let's look at the story of Bitcoin and see from time it came into existence. Only those who are able to hold onto their Bitcoin investments are those in great profit nowadays, so if we really want reasonable profits from our Bitcoin investment, we should be ready to hold for a long period of time. At least try to experience two more halving before thinking of taking a period.
As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings
Holding Bitcoin for a long period of time is really important in bitcoin investment because that is what can determine your profits. Let's look at the story of Bitcoin and see from time it came into existence. Only those who are able to hold onto their Bitcoin investments are those in great profit nowadays, so if we really want reasonable profits from our Bitcoin investment, we should be ready to hold for a long period of time. At least try to experience two more halving before thinking of taking a period.
As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings
Holding Bitcoin for a long period of time is really important in bitcoin investment because that is what can determine your profits. Let's look at the story of Bitcoin and see from time it came into existence. Only those who are able to hold onto their Bitcoin investments are those in great profit nowadays, so if we really want reasonable profits from our Bitcoin investment, we should be ready to hold for a long period of time. At least try to experience two more halving before thinking of taking a period.
And one important thing is that someone should set a selling price for itself, and once you have that, try to hold onto that price so that if the price of Bitcoin does not reach that selling price someone should sell it, so that it will encourage someone for holding it Bitcoin investment. I have a friend who just set the Bitcoin selling price at $500k. Since the Bitcoin price did not reach $500k, he is not ready to sell his bitcoin investment. I can't actually predict the price of Bitcoin, but with the Bitcoin price target of selling, it needs to be hold for a long period of time with Bitcoin current price now.
As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings
For an investor of Bitcoin that is willing to HODL for a certain period of time there are things you consider before buying; You have to set goals for yourself your entering and your projected exiting price should be stated after your research about the investment and you have to adhere to that.
Is it gonna be a long term or short term investment for you?
You don't use your emergency funds for this it a very highly volatile market.
Know the gain and risk involved in Bitcoin investment. And most importantly be informative.
Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I had no income because I was still struggling with finance in the university so I decided to save little by little and i saved for a year plus and then started, it was challenging sometimes especially when I had nothing to eat I will remember I have Bitcoin and that I could sell it off.
Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.
Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.
Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.
Relatively speaking Bitcoin investment is an unlikely good plan, yes if you can take the right approach. Holding DAC and long-term holding is the main source of income with proper planning, which can play a special role and play a key role in making your Bitcoin investment sustainable. But on your income, suppose the monthly income is $120, and you spend $90, the remaining $30 you can invest in Bitcoin. However, Bitcoin investment should be a long-term plan, an expression of thought, urgent need or to face something challenging, why not think about the investment in Bitcoin at all, and I think that Bitcoin investment should be continued in the long term. Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.
Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.
Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.
Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I had no income because I was still struggling with finance in the university so I decided to save little by little and i saved for a year plus and then started, it was challenging sometimes especially when I had nothing to eat I will remember I have Bitcoin and that I could sell it off.
Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.
Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.
Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.
Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.
Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.
Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.
Bitcoin also serves as a store of value as it fight against inflation, however, having a stable source of income can be good for anyone venturing into Bitcoin investment so that you will not looking up to your Bitcoin investment to solve you other needs, having a stable income flow will also help in ensuring a healthy investment as you will be increasing your the size of your Bitcoin investment by making purchase on different occasions as it takes fewer and fewer of Bitcoin to realize it up to a reasonable amount, a provisional emergency funds are very important as we are prone and vulnerable of encountering an unforseen circumstances such that having an emergency fund will definitely help by not selling your Bitcoin to solve your emergency issues or problems.
Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I had no income because I was still struggling with finance in the university so I decided to save little by little and i saved for a year plus and then started, it was challenging sometimes especially when I had nothing to eat I will remember I have Bitcoin and that I could sell it off.
Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.
Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.
Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.
Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.
Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.
Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.
Bitcoin also serves as a store of value as it fight against inflation, however, having a stable source of income can be good for anyone venturing into Bitcoin investment so that you will not looking up to your Bitcoin investment to solve you other needs, having a stable income flow will also help in ensuring a healthy investment as you will be increasing your the size of your Bitcoin investment by making purchase on different occasions as it takes fewer and fewer of Bitcoin to realize it up to a reasonable amount, a provisional emergency funds are very important as we are prone and vulnerable of encountering an unforseen circumstances such that having an emergency fund will definitely help by not selling your Bitcoin to solve your emergency issues or problems.
Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last.
Setting your goal is crucial in Bitcoin investments and it is a way you know whether you are opting for the longest-term investment plan which is popularly called HODLing or a short-term investment plan where you invest and divest in a matter of weeks, months or a few years. This will help you have that determination and show you know what you are doing.Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last.
Some people actually claim they are investing in Bitcoin for long-term goals but due to the lack of goal and the determination to achieve the goal, they divest before the time. Though some will not divest totally but just a fraction of the investment, if this is being removed from the invest over and over again, what will remain? That is why one must know what his motive of the invest is from the onset so that a viable plan can follow.
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Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
Lol...I don't subscribe to this. There is nothing like saving for emergencies for a long-term investment, what if you exhausted the saved money? It is all about whether or not you are ready for it. If you want to HODL Bitcoin, just ensure you have a source of income that will make you independent of the invested money, period! Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
For you to have a smooth investment to hodl for a long term, it is very important to have a steady source of income flow that will be able to supply you all your needed resources for your investment without affecting your responsibilities towards your family or otherwise aside from your Bitcoin source of income that you get from campaign , that is outside the crypto world ,like setting up a business or having a monthly in come job for support.
To have a constant income of fund, you need to set aside reserve fund and emergency fund so that one can be able to augment the other, Incase of excess expenditure coming from your responsibility in a particular month in period of time, these will enable you to hodl for a long term using the DCA Strategy makes it a lot more easier and better to invest in cryptocurrency .
To have a constant income of fund, you need to set aside reserve fund and emergency fund so that one can be able to augment the other, Incase of excess expenditure coming from your responsibility in a particular month in period of time, these will enable you to hodl for a long term using the DCA Strategy makes it a lot more easier and better to invest in cryptocurrency .
For me, I for like to say if we want to hold bitcoin for long na just to get another means of income, make we no just put our eggs for one basket, that is to say make we no depend on crypto for everything.
You are right. Bitcoin can be held for a long time only when we have another source of income. Because we can’t invest in bitcoin and be starving, we will sell even if it is lost, so it will be better to get what we earn before going into crypto investments or trading whatever we are in crypto to make money. There is no certainty, and it will help us if we have another problem or when the market crashes.
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Some investors don't have a plan about their investment, they chose to buy anytime they like and sell anything they like, but they do t know that Bitcoin is not a fiat currency. It's said that most people that are new into Bitcoin lack Bitcoin knowledge which is true, some of them don't make research that's why they don't know when to buy and how to hold.
We call them newbies for a reason because they don't know anything about the industry that they're joining, only those that take it upon themselves to do their research na dem wey no go fall mugu. As a newbie e no get how you go dey just rush say you wan invest for wetin you no sabi how e dey be. If you be that type of investors, you no go last because this industry na one place wey anything wey you dey find to invest inside you go see. If you need ponzi scheme e dey. If you need Bitcoin doublers e dey, everything dey here so na for you to find the better coin na where you go need the help of community members for Bitcointalk. People here no go advice you wrongly because them been dey like you before and them dey speak from their own experience.
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Although even if a crypto newbie doesn't have good knowledge of Bitcoin, if he chooses to accumulate Bitcoin with DCA method it will not be a bad idea because DCA method gives him the opportunity to buy. But even with DCA method an investor also need to be patient about making profits because Bitcoin is not a get rich quick scheme.
NCA (Naira cost average) na him sure pass say you wan invest for Bitcoin and without asking you no go know and you fit dey put all your money one time into the market but e go come dip. If you still buy like this, e no bad if you continue to dey hodl and not sell. NCA sha go increase the quantity of Bitcoin wey you for fit buy but if you no get plans of accumulation, you no get problem. The thing be say different ways dey to invest but DCA wey be NCA for Naira na him sure pass because e go give you money quantity of Bitcoin wey go mean say na more profit for you when you wan sell.
As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings
We invest in the considerable variety which become favorable for everyone of us. The space is filled with risks but they're worth taking because we're investors who solely wants the best for ourselves. It's advisable to invest in bitcoin and this have become a regular investment in the space. Everyone have a uprising plan and it this have become a regarding aspect for everyone to acknowledge. Personally, i don't think HODL of Crypto Currency is for newbie or someone without other source of income, It's similar to buying stock which you're supposed to keep for a long time regardless the short-term market fluctuations, Although cryptocurrency market adds an extra layer of risk and complexity. There's no advice someone will give about that, Get a skill that'll help pump money which you can then split and make the necessary plan for investing.
Well, volatile assets have high risk but investing in historical stock market can put your margin at higher risk. Inflation is rampant in almost every country in the world and the value of your worldly wealth is decreasing day by day along with wealth invested in the stock market. Even if you invest in the stock market for a long time, there is no guarantee that its value will always increase. But if you want to take profit from crypto, you need to keep accumulating bitcoin for a long time. DCA method allows you to deposit bitcoin against disposable income every month which may increase in value over time. In the last 14 years, the value of Bitcoin has increased by almost 40 thousand times, which you must take into account. Whereas other cryptos are comparatively much weaker and more risky for investment. So you should decide and increase your Bitcoin holding.
Personally, i don't think HODL of Crypto Currency is for newbie or someone without other source of income, It's similar to buying stock which you're supposed to keep for a long time regardless the short-term market fluctuations, Although cryptocurrency market adds an extra layer of risk and complexity. There's no advice someone will give about that, Get a skill that'll help pump money which you can then split and make the necessary plan for investing.
As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings
what I have thought of mong many conditions that affect people's investment to be harvested prematurely is that they rush to invest at a stage of their life when they are supposed to be making savings. You can't jump the steps and think that it won't affect you ahead. Some investors are investing without having any savings anywhere. What would happen when challenges burst up in the absence of any available savings? It's the investment that will be the next stop, making the investment serving as both investment and savings, which ought not to be that way. So it's important that people make some savings before taking to investment plans especially for a long term investment. 
It is always better you have a plan over your Bitcoin investment before you invested in it and always try to stick to the plans. Many people get confused because they don't initially have plans for their Bitcoin investment and that is what normally course their panicking whether they should sell or not. Always try to know where you always want to be taking your profit. Asking people to tell you when to sell is not a better idea because nobody is expert in that way, everybody is just saying is own base on their technical analysis views.(knowledge)
Your decision on whether to sell or wait until the price rises even further depends on you. But make an effort to take a seat, reflect, and conduct additional research. No one controls the market price, so it is difficult for anyone to advise whether to sell or not,although it not bull run era but nobody can 90% assure you maybe it will continue maintain the rang of $20k till bull run time or still fall beyond $15k.many people are only speaking about their own experiences.
This is the best have read here so far, is good for one to know that no one control the market, anything can happen, even when we pray for the best,be prepared for the worst. Holding is one challenge investors in bitcoin are facing, its hard to determine when to sell, because they're so many experts with their own experiences, that will discourage you not to sell, as if they control the market price. I think you made it clear that one should know when to withdraw his profits. Don't reply on any experts ideas to avoid lost.Your decision on whether to sell or wait until the price rises even further depends on you. But make an effort to take a seat, reflect, and conduct additional research. No one controls the market price, so it is difficult for anyone to advise whether to sell or not,although it not bull run era but nobody can 90% assure you maybe it will continue maintain the rang of $20k till bull run time or still fall beyond $15k.many people are only speaking about their own experiences.
Investing is buying with some level of funds and leaving it until maturity which you can choose to continue investing without tampering with your funds, or take out your gains, reinvest your total capital, some part of the capital, or even increase your investment portfolio as the spirit leads. Every investment has guidelines which you must adhere to if you want your investment to be worthwhile. Bitcoin investment prides in allowing your investment stay for a long period of time. Periodic gain collection and altering of your investment is not part of bitcoin proper investment guideline.
If you are not leaving your portfolio for a long time, let's say 4-10 years before altering it, then you are not investing rightly as short-term investment activity is a wrong approach to proper bitcoin investment.
Setting out goals and saving emergency funds is very important but when it comes to investment the two mentioned above is not enough perhaps one have to be discipline, determined, patient and above all understand how investment works. Bitcoin is a very nice investment and it doesn't require much technical analysis before investing in it and the best way to go about Bitcoin is to invest for long term. Again I don't think having source of funds or having emergency funds can make one not to touch their investment because some people touch their investment even when they have source of fund but rather discipline will help one not to touch...
Before starting a journey to Hold bitcoin for long, first we should have a source we earn from. If there's a source of income, then lay out a plan that gives direction or guide in your holding journey in other to achieve your goals. Beginning with a strategy like DCA is very recommendable because this strategy helps in accumulating Bitcoin with a regular fixed amount in your own comfort and it make easy, going through the volatile market (ups and down trends). Through our earnings setting aside Emergency and reserved funds is an important aspects to help us hold bitcoin for a long period of time, Emergency are back bone to our investments these funds helps in not touching or selling your coins prematurely, while Reserved funds serves as a booster to our bitcoin's investments. Additionally, HODL for a long time requires patience and discipline in sticking to your investment and be knowledgeable not to be persuaded by the investment outcomes of others rather learn and stick to aims for the long run.
It is always better you have a plan over your Bitcoin investment before you invested in it and always try to stick to the plans. Many people get confused because they don't initially have plans for their Bitcoin investment and that is what normally course their panicking whether they should sell or not. Always try to know where you always want to be taking your profit. Asking people to tell you when to sell is not a better idea because nobody is expert in that way, everybody is just saying is own base on their technical analysis views.(knowledge)
Your decision on whether to sell or wait until the price rises even further depends on you. But make an effort to take a seat, reflect, and conduct additional research. No one controls the market price, so it is difficult for anyone to advise whether to sell or not,although it not bull run era but nobody can 90% assure you maybe it will continue maintain the rang of $20k till bull run time or still fall beyond $15k.many people are only speaking about their own experiences.
This is the best have read here so far, is good for one to know that no one control the market, anything can happen, even when we pray for the best,be prepared for the worst. Holding is one challenge investors in bitcoin are facing, its hard to determine when to sell, because they're so many experts with their own experiences, that will discourage you not to sell, as if they control the market price. I think you made it clear that one should know when to withdraw his profits. Don't reply on any experts ideas to avoid lost. Your decision on whether to sell or wait until the price rises even further depends on you. But make an effort to take a seat, reflect, and conduct additional research. No one controls the market price, so it is difficult for anyone to advise whether to sell or not,although it not bull run era but nobody can 90% assure you maybe it will continue maintain the rang of $20k till bull run time or still fall beyond $15k.many people are only speaking about their own experiences.
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