Topic: How to HODL for long. (Read 840 times)

You need to prepare yourself more for long-term holding such as not being aggressive in the first place and keeping yourself a large amount of floating cash. Unexpected events may occur at various times while your investment is ongoing, such as physical illness or loss of job or business downturn. The problem should be resolved without withdrawing your holding to address that situation. Hence it is recommended to keep at least 6 months or more in cash to meet your family's daily needs. The more cash you have floating around the more aggressive you can be in buying bitcoins during price dips which will keep your stack growing faster and your portfolio looking decent.

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

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

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.




 

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.

 

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.

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.

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.

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.

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.

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.

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

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.

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.