Topic: Invest in bitcoin and forget the investment (Read 1064 times)

My current investment in Bitcoin is like this only. I invest a lot these days because price of Bitcoin currently is half of the peak price. It is obvious that we will be back at previous price in less than 6 months. So if I have a large capital invested, I will double it in six months. There are lot of positive movements coming in near future also which will move Bitcoin prices up more.

Bitcoin is a potent investment and has the potential to bring significant profits if we can hold it for the long term, everyone knows this. But the important thing is, can someone invest and forget about his investment for a while? It seems easy to say but I believe that not too many people will be able to do it because we all look forward to it and look forward to it, can we forget it for a long time? As I see it, even 1% or 2% movements in bitcoin are noticed and discussed by people, so how can people not think about their investments? It is not possible.

This only applies when you started bitcoin at its earlier price or in 2017, before bitcoin skyrocketed in price. Right now the price of bitcoin is too high, so you will never know when it will decrease or increase, so it's not just that you will buy and sell and stock a lot of bitcoin. It's not that easy; you will need to consider a lot before investing in it. Like its price, what if you brought bitcoin to its peak price and suddenly dropped it? I get it. Bitcoin is long-term, but of course you have equity to consider. If your equity runs out, then your asset will be gone. Don't talk like bitcoin investment is easy because it is not. There is no certainty in bitcoin as its price is volatile. Don't give false hope and false ideas without stating the things to be considered before entering something new.

Yes, obviously, no one wants to use Bitcoin to earn a daily living. This means that one should not depend on the earning of an investment in Bitcoin to live his daily life, but in parallel with it, keep another source of income because cryptocurrency also gives loss along with profit. Spare money should be invested; even if it is lost, your life will not be considered a risk.

You are absolutely right that you should invest money that you can afford to lose. Not the one with which you are fulfilling your daily basis of living. And in the field of cryptocurrency, the wise man is the one who invests with the money that he cannot risk losing his life.

Bitcoin users are often in a hurry to take a decision, and they fear that if we don't hurry, the opportunity will be missed, while sometimes a little cool-minded decision is better because, in the high volatility of cryptocurrency, we should stay calm and monitor everything. And I want to grab the rightful opportunity by observing. Then you will be able to succeed in taking a better dissection; otherwise, the majority of haste would have been based on wrong decisions. And anyway, haste is the devil's habit. Human nature has patience and contentment, because being hasty is often the hallmark of wrong decisions.

It is possible to become a millionaire by investing in Bitcoin but it requires high investment and long term hold. But how do you control yourself to hold Bitcoin long term? A person can forget about making a big investment only when he has a huge amount of extra money to cover his regular expenses and for some of his alternative investments. Otherwise it is impossible to forget that investment. and a person who can't forget about his bitcoin investment will never stop himself from selling those bitcoins when he sees a big dump of bitcoin price in the market. And that's why it's not possible for everyone to invest in Bitcoin or other cryptocurrencies for a long term hold.

I don't think that when someone has one source of income, it may be a tangible reason why it cannot hold their Bitcoin investment for a long period of time, but the reason I think it is behind that is when someone invested what they cannot afford to lose in bitcoin. Many people in the crypto space nowadays are just investing the money they have planned for the near future, which I believe is what created panic and why they can't hold it for a long period of time. The reason why people invest what they can't afford to lose in bitcoin is because of their greed for making a big profit from their bitcoin investment, and with this reason, they can hardly have rest of mind in their bitcoin investment.
 
Holding Bitcoin for a long period of time is not really easy, even if someone has more than one source of income, unless the person is properly oriented about Bitcoin investment and invests what they can afford to lose. Let's say I am receiving 100 dollars every month in three different places, and I decided to invest 50 dollars as what I can afford to lose every month. By using the DCA method, I was able to put $1k in my wallet. Do you know that this $1k will become what I can't afford to lose again because I don't have much on the ground but assume I have much, like $30k? Losing $1k may not be my problem. The only thing that can make someone hold Bitcoin for a long time again is when they have a proper understanding of it and have faith that it will all be positive in the future.

Bitcoin is a very profitable investment, based on experience in recent years, the price of Bitcoin traded today is much more expensive than before. Bitcoin is an investment for the future, everyone who dares to invest in Bitcoin and then forgets about investing for the next few years will benefit greatly from it.

There is no need to be afraid of risk or loss of assets, as long as you are able to maintain asset security properly, Bitcoin will continue to have a high selling value in the future. Bitcoin selling point today is an experience that leads to regret for those who doubted Bitcoin's potential in the past. It's not too late, there is still time for investors to benefit from Bitcoin, as long as demand and supply still occur in the market, Bitcoin will continue to have value.

Money above a certain amount brings with it needs. Your expectations from life change and the way you spend it changes. That's why there are those who catch a cycle of Bitcoin and make a profit, but the continuity of this profit is also important. Because even increasing the amount of investment in the time between this cycle requires economic power. So getting rich is not as easy as you say.

Every possibility and risk of the investment must be taken into account. At the same time, one must have the patience to wait for a certain period of time. Wealth is a very comprehensive concept. For some, it is something that can be achieved by applying your method, and for others, continuity is wealth.

The title of the topic says it all, there is nothing more to add or take away from it, if a person wants to be a millionaire, they do not have to do tradign or go looking for which is the easiest casino, or which is the easiest game, or shortcuts to Being rich, it's simple, you have money, you invest it in bitcoin, you wait a few years and you are already rich, the more you put money in bitcoin, the more a millionaire you will be, that is the trend of bitcoin behavior, there is no other way to be able to reach be the best and richest in the world, but now bitcoin is at a good price to buy, when it increases to more than $100k, who will buy? the most millionaires.

Exactly, there are some people who only invest in bitcoin for the short term, if the price rises slightly they will sell it many people cannot invest in bitcoin for the long term let say 5 to 6 years, unless they have another source of income that they won't depend on the investment they made in their wellet and no one can predict bitcoin volatility because the price can change at any time, let say in the next 5 to 6 years now, Everyone believes that the price of bitcoin should rise very well if you invest now and want it to reach the year and the price decrease in the next 5 to 6 years that will be very sad that is why is difficult for someone to leave is coin for very long term, but he can leave it for 2 to 3 years and still make a profit because it is volatile, Many people seek quick money so they do not invest for a long time, which is why you see many rookies focusing on trading since they believe they will become wealthy when they lean about it very well.

That's right! considering you have enough patience and perseverance whenever the crypto market is not looking well, you can easily survive the FUD and whatever negative news from mainstream media because you already have a strong belief that it will gonna passed like a storm someday. That's a fact considering the history of its price for the past years and Bitcoin is not like the altcoins because it won't rely on them rather they all rely on bitcoins. They are just waiting for it to increase its price and suddenly the crypto market will become all green. That's why when you invest in bitcoins with the money you can afford to lose, you don't need to worry about it and just set up the alarm whenever the price increases up to +20% and you can decide whether you gonna sell it or not.

You're right, and I concur. No one should live off Bitcoin or any other cryptocurrency. "Invest only what you can afford to lose." Indeed, wise words. Bitcoin investors can get caught up in the rush, excitement, and thrill. Volatility in the market might cause bad decisions. People occasionally let their interests obscure their judgment.

You've mastered staying calm in market fluctuations. Well done! You must have enough "rope," as you say, to survive until your investments bear fruit. Not day trading, but strategic, long-term thinking. Speculation in the market might mislead. Be wise, knowledgeable, and prioritize your health.

This is why Bitcoin investment should not be used as daily living method because you will end up hungry for a month , have not we keep telling people to "Invest What we only afford losing" ?

that has been said for many years as I have mastered that, so I can confirm that keeping your eyes close towards market movement for a while will not hurt us mate.

when you invest in crypto specially about bitcoin , make sure that your rope is long that you can eat while waiting or else never consider this for day trading , speculative and volatile market are the one whose making people fail with their wrong interest.

                                  - Buy Low Sell High -

That is what mostly wanted to say and do but do you really knows when to check the lowest? or when it is at low and ready to buy? this attitude makes many investors have wrong decisions , or have their regrets .

Buying when they believe its Lower but the next day it drops more again trapping them inside .

or selling when they believe its High but the next day prices continues to increase that even make it double from their selling price.

Why not instead of looking for low? just buy when you have funds? isn't the perfect decision that will send you less regrets?

What will always make one's mind to be in bitcoin investment is when one is so much expecting profit from Bitcoin and when it is like this is very difficult for people to take their mind off from it.  It is very important to have source of income when investing in Bitcoin to be able to forget about the investment . The get rich quick mindset is a bad thought that deprive investors from achieving what they are supposed to have from their investment. Having a mindset that bitcoin investment is a long-time investment will help people nor to depend on bitcoin to gain profit quick.

Always monitoring market conditions is not the right thing for brands that invest long term, in fact it is a bad thing in my opinion because it allows undesirable things to happen when market conditions are in a downward trend.
Each of us has a different strategy, for long-term investments the most difficult thing to control is emotion and panic, so we must be able to restrain this as much as possible so as not to change strategy in the middle of the journey and I really do not recommend it for those who often monitor conditions market.

Forgetting the investment we made does not mean we completely don't remember it, who will take the results later if we don't remember it. lol
However, this means that we don't care about whatever happens, so we have to focus on the goals we have set from the start for long-term investment.

Those who invest for the long term will of course continue to monitor market conditions and they will not disturb the investment they are making because they already understand the strategy they are using.

Yes, it is true that because it is easy to find various information on various social platforms, it is very unlikely that we can forget about the investments we have made. Having a specific buying and selling plan will certainly be able to maintain the investments we have made.

Bitcoin broke above $30k, which is a good kick, but probably it's not yet the start of the bull market. We might even see the price going to $40k, but not to worry; that's not going to be the ATH for the season of the Bitcoin bull market. In essence, what I am saying is that whoever is planning on investing in Bitcoin now is not on the wrong track. Some people were waiting to buy at $22k, but now we have gone far past it, and I wonder what price they would be praying for the price to drop to before they could buy. If you invest in Bitcoin now and the prediction of the ATH for the bull season becomes reality, then it's going to be a huge profit archived, but whoever is not buying now might keep on procrastinating until the bull market finally settles in.

Long-term investors can do that because they have other means of getting money when they badly need it.
But if you are an investor who solely relies on your potential profit from this investment, for sure, you will check the market more often.
And you may possibly sell at a loss if you need the money and it is not yet right time for you to sell.
So as much as possible, if you will invest on this volatile market, make sure you are using your extra extra funds where you are no worried about its immediate return to your vault.

    Isn't that how a long-term investor should think? That's why they are the capitalists who are not affected by what is happening in cryptocurrency; even if the news we hear is purely negative, they are just at ease and don't care.

    It's just that when they reach their target price value after a few years and plan to sell it, they will just go back to where they hid the bitcoin they bought and hold it. There is less pressure to be honest in this holdings strategy.