Topic: Invest in bitcoin and forget the investment - page 2. (Read 1052 times)

Even people with multiple sources of income will find it difficult to forget about investing for a while. Simply because if we are truly passionate about investing in bitcoin, we cannot stop watching news about it and stop discussing bitcoin every day.

Frankly, I can't do that, although I can't expect a bull season to come quickly or for it to turn a profit for me anytime soon. Not to mention, with the popularity of bitcoin and cryptocurrency, we will easily come across it on every social platform, forgetting about it these days is impossible. I don't believe anyone would do that and it's not necessary. When investing, we need to have a specific buying and selling plan, and do not need to forget about our investment.

I could agree, yes because most of us have been reliant on a single source of income and at the moment we buy Bitcoin, we also then think about a profit and our mind is focusing on it. As we kept tracking our investment, the more we got into thinking about when it was bullish and when I sold it. The center of our mind is to make money from our investments which certainly have a huge impact on our decisions.
And this is the reality, some investors were long-term holders and patient while some were short-term holders and impatient. This will measure us how long we can keep our Bitcoin and the capability to hold.

Easy to say but difficult to actualize. I do get where this idea is coming from; previous investors who forgot about it and are now happy with how high its market value became. But since its price is already high, and since we don’t have an assurance that its price will further increase in the future, not to mention possible circumstances which might push an investor to pull his investments out,then it is just hard to think of. Previous investors made this possible only because it was amnot as promising as it is now. We just cannot disregard something with a large value. Remember instances wherein a guy paid using an amount of Bitcoin to buy a pizza? That’s how different situations are, now.

When money and investing come up, it makes total sense that people get interested.  But just jumping in without actually understanding everything involved is pretty much asking for trouble.  Whether we're talking about Bitcoin or anything else, you really need both some knowledge and some cash to put in. 

It's kind of worrying how many people seem to just toss their money at stuff like crypto, hoping itll grow without really getting that cryptocurrencies can be super volatile and risky.  Just having Bitcoin isn't only about being patient.  You also gotta understand how the whole market works, plus what's going on with cryptocurrencies in general and

I mean, I get the appeal and why people want to try getting in on the ground floor.  Who wouldn't want their investment to take off and make them a bunch of money? But you gotta be smart too.  Do some research so you know what youre getting into.  Start small so you don't lose your shirt if things go south.  And pay attention to what's happening so you can make educated choices. Patience helps with that, sure.  But knowledge has gotta be part of the equation.  Otherwise it's too much like playing the lottery - just crossing your fingers and hoping for the best.  And we all know how often that actually pays off in the long run.

Investments are basically from money you don’t need urgently, so you should be able to take off your mind off it. There are some other investments that gives you opportunity to make money even as you still hold your asset just like Shark fin product of Bitget where you can make up to 7% APR in a month.

It's worth doing so as there is no risk awaiting you anywhere like those other shitcoins in crypto space, I have swapped popular altcoins to their new smart contract this year alone and last year it was gala games, you can't keep altcoins and never look back, you will lose your money, but Bitcoin? You can look away foe over ten years and come.back later with no worries, you just have to make sure that your Bitcoin wallet stays offline, and keep your private key secured.

I have learnt some lessons between 2021 and 2023, and till today Bitcoin still feels more like a home than every other coins out there, I don't even trust the bigger ones like BnB and Ethereum like I trust Bitcoin, a family of mine who is now struggling a lot failed to listen to me in 2020 when I told him to buy one Bitcoin, he had the money and he claimed that he doesn't know what to use the money for, that's when why I brought the idea up, today he could be sitting on good amount of gains if he took his profit in 2021, even if he doesn't he will still have 1 Bitcoin today, it's now over $34,000.

Since 2020 I have made up my mind to start buying Bitcoin and hold for future sakes, I believe that Bitcoin is very identical to real Gold, it's so valuable and worth keeping for long period of time, some times I feel jealous about those people who bought Bitcoin before 2016 and sit on their bag till today, they will have a good life till the end of their time.

Bitcoin investment has come to stay in the ecosystem, where Bitcoin get more expensive as time goes on, and one to invest in Bitcoin and forgot is not easy, accept does are already wealthy in financial sector, that can hold for a period of time, without minding that has a digital assets called Bitcoin that has already forgotten as the case maybe not easy, but more profitable to applied such principle in cryptocurrency space.

IMO if we look at what you said it is not wrong but when we have studied and are sure of the bitcoin that we want to adopt as one of the assets we want to invest, and are sure to invest in a short time because this is not just a day, a week or a month considering the concept of investment should be more than that I think it takes longer than we imagine.

By looking at this condition, even if the problem of how the market works and others should not be a concern because in the end our goal is not for the short term but a longer term than that. Although it is certain that we also have to know that as a form of our anticipation but this is just a complement not as a principal that must be done because the point is how we are confident in the investments we make and withstand all forms of existing processes such as market crashes and some bad news that disrupt the development of bitcoin itself.

When money is involved, its only natural for people to go there. But jumping in without knowing the details? Theres no way that could not get burned. Putting money into investments, whether they're in Bitcoin or something else, requires both knowledge and money. Alarmingly many people just throw money in with the hope that it will grow, but they dont understand how volatile coins are.

What matters most is not how much you spend, but how much you know about it. Holding Bitcoin isnt just about being patient; its also about knowing how the market works and how cryptocurrencies work in general. Those who want to get involved should first take a step back and learn more about the situation. Only then should they decide to contribute. Like jumping out of a plane without checking your parachute, not doing that is the same thing. A smart choice is always better than a risky one.

It is important to have a good understanding of Bitcoin before we start investing because without understanding well what we are doing, of course we will not be able to last long on the investment we make and we also need a mentality to be able to survive various circumstances in the investment we make do. I agree with this, after we make an investment, don't forget about the investment we made because it could be that we have made a profit from the investment and we can enjoy the profit or continue investing.

It could be quite toxic and misleading if you lost the goal in your investment in the end. You know, it’s hard to forget such a life-changing investment even when you say temporarily. You might forget it a week or months but still, you will continue to be updated about the current price of btc and the current market position. That way, you will know your next step on your investment. Even if you say long term investment, that does not mean that you won’t be bothered anymore if ever it’s price crash suddenly, once you put your hard-earned money, you will really do the best so that your investment and your hard-earned capital will not go into waste.

How do you forget your investment and for what purpose? Do you consider investment in BItcoin a one-time investment? These are some of the important questions to ask. It is difficult to forget your investment unless the money is not important to you and I don't know if there is anyone who money is not important to. If you mean, investing in Bitcoin and holding for long without selling, I agree with you but to invest and forget, I differ with you on that.

There are people applying the DCA method to buy their Bitcoin, how can they forget their investment when it is a continuous somethingn them? One may not really need to be checking the investment regularly but it is difficult to forget about your investment.

I agree with what you said because after all when we invest regardless of whether it is small or large in terms of nominal all will definitely get a share according to their portion. If it is in bitcoin with a large amount of money then surely the profit is also large and vice versa.
The problem I think for now is not about the amount of bitcoin we invest but about how firm we are in holding. Bitcoin is currently starting to attract many people including beginners but sometimes the perception or first impression of beginners only centers on the benefits they get because the initial thinking of beginners is actually too simple in my opinion, they only follow being in bitcoin but don't know what bitcoin is and how the risk is so that when we experience a crash indirectly their thinking changes because they think of this as fraud due to ignorance and don't want to find out the risks that occur if they are in bitcoin.

Investing in Bitcoin actually does not depend on the amount of money you have but rather on your own belief in Bitcoin. I know that not everyone has an immune mentality, that when they see the bitcoin assets they own, they will be calm, but forgetting about the bitcoin we had when we bought BTC is not recommended. you have to deepen your knowledge about bitcoin, don't let your long-term investment in bitcoin fail just because you are afraid of the FUD against bitcoin that often appears.

It's easy for you to say that OP but there are some people that's living on only one income stream so it's difficult for them to invest in bitcoin and leave it there for the long-term which they can't afford to do with the inflation in prices of basic necessities and bills piling up, it's going to be hard for them to do what you're saying. Some might say that they just have to find another way to make money but that's not easy for many to do especially if their first job is already exhausting as it is then they're going to have a hard time creating a second income stream. But it could still work though, they just need to sacrifice something that they're habitually using or change their routine, you know like eating out during payday or not buying material stuff and making sure that you're on a tight budget but that's going to be an extreme scenario and not a lot have the discipline to do it.

It is advisable to invest in Bitcoin and forget but it all depends on the individual involved, you don't expect a low-income earner to do such, long-term investment is the right approach to Bitcoin investment because Bitcoin is not gambling it is all about more investors and market forces, so if one wants to be part of the process, he must be patient to benefit from it.
But the major thing is to buy as you can afford and make sure that the money you are using won't affect you whenever unexpected circumstances occur which we don't pray for but we can't control it, don't risk everything in it, You have to possess the adequate knowledge before investing, the decision is yours to take, do what thinks is good for you to avoid blame.
 

If that is the strategy I would wait for the price to get lower.

In crypto, human nature and tendencies make the emotional ride a roller coaster. Your advice about not looking at the portfolio regularly is especially useful for long-term investors. It eliminates emotional anguish, right? Historical Bitcoin and altcoin cycles show that holding through volatile periods and not making rash moves during market downturns often yielded positive results.

You did well to accumulate and remain calm during market volatility. Being able to sell during market peaks and bull runs while ignoring market emotions is a balanced approach. Those who take a disciplined, cyclic approach to investing, especially in Bitcoin, tend to stay calm throughout volatility, which often pays off.

well, starting to invest now until 2024 or 2026 is probably not that difficult. Considering that we only need to wait another 2 to 3 years to see the effects of the halving, there's no harm in starting to collect bitcoins little by little now or maybe immediately buying bitcoins in large amounts. Even though there are still risks, and it may be difficult to forget about the investment we made, the potential for an increase in the price of bitcoin due to the halving may be quite large. This can be seen from previous years.
However, investing in bitcoin is not a bad idea right now, in fact it could be an opportunity before the price of bitcoin really rises. However, I think there are still quite a lot of people who also think that popular altcoins will also be affected by the price of bitcoin and could rise also high, so I feel that some people might choose coins like ethereum, BNB, or other popular altcoins instead of bitcoin because lower price. However, if you want lower risk, then bitcoin is a good choice right now.

I think right now is the best time to invest in Bitcoin. Those who invest in Bitcoin will surely make huge profits when the price of Bitcoin is in a bull run. Investing right now and holding till the bull market is definitely possible to earn profit that is why we should invest and hold. Although prices are currently fluctuating within a range, now is a good time to invest. We must wait to see the next bull market and reap huge profits from Bitcoin. Since our next halving will be in 2024 there is not much time for this to happen and only a few months we will see the bitcoin halving. And when the bitcoin halving event happens, after that the bitcoin market will go up and the price of bitcoin will gradually increase. After that the Bitcoin market will increase and will be seen in the bull market and then I will tell you to invest now and you will get a lot of profit. It is true that we have to invest in Bitcoin and after investing in Bitcoin for a long time forget about it for a few years. When we forget about Bitcoin investment after few years we will be able to earn huge amount of money from that investment.