Topic: Invest in bitcoin and forget the investment - page 7. (Read 1064 times)

While that is a welcome prediction, I don’t think the next bullrun will push us to 100k heights. First off, there’s no good reason to. Bitcoin in the past were able to increase in value thanks to hype that it created or it rode in. ICOs, DeFi, etc. these are what drove bitcoin to new ATH valuations in the past, not just cause it’s “hip”or whatever.

Plus it’s not a good investment advice to forget that you have assets in holding lol. That only works when you’re ina Drama series, in real life that would always equate to you getting liquidated and your whole investment portfolio getting burned down without you even knowing.

Many have suggested not to forget about the investment on different cryptocurrencies. To my understanding it is always good to invest with bitcoin, as it have got good growth record. Further you should remember the credentials, and you shouldn't have the tendency to keep on watching the price when your plan is long term holding.

To all my friends who ask for suggestions on cryptocurrency investment, I suggest what one can afford to loss. When one follow this, people enjoy profit and if things didn't go well as predicted the same doesn't affect their living.

Halving is going to happen in 2024, next year, what is likely to trigger a new bullish run in crypto market from that moment on, although there are chances the effect may happen only a while after the halving event, so you are right when you predict BTC to rise in 2025 and 2026, because some delays are also expected by many specialists and speculators in general. The important is to be ready when the moment comes by storing your coins in a safe wallet under your total control. This way you prevent negative surprises when the market starts getting bullish again, as in times like that it's possible many platforms get greedy and attempt to steal users' funds deposited on them...

I mean for sure it is probably an effective strategy if you're just going to forget about your Bitcoin because probably the market price is just going to increase when it already Bullrun and the easiest way to hold your Bitcoin is just to forget about it so that the price is going to increase over time. But I guess it is just easy to say, if you can actually do that it's going to be a good strategy but it wasn't really easy since when the market drop there are always fear, and most of the investors are getting FUD, and ended up selling their Bitcoin at a wrong market price.

Still the best thing I guess is just to DCA since if you can really buy Bitcoin at big volume since it's going to be expensive, Bitcoin is still a very risky kind of investment even though we said and believed this kind of things that probably it is going to happen or we are going to make a good profit when the Bullrun comes as long as we hold our Bitcoin. It is still not a guaranteed investment because the market price is just determined by a lot of factors and one of it is just supply and demand, and there was really no proof or anything since it's a digital currency it doesnt have any tangible assets like gold. So in the end all of it are just speculation it wasn't guaranteed that it is going to happened, we dont really know if Bullrun is still going to happened.

Investing in altcoins could be really good for the short term. However, if you're looking to invest for the long term with the potential for higher profits, the right thing to do is to invest in Bitcoin and just wait. I believe that Bitcoin's price will increase a lot in the future and reach a new ATH in the next few years, probably 1-2 years after the halving. I do recommend investing in both, for the long term when it comes to Bitcoin and for the short term when it comes to investing in altcoins.

That doesn't mean investing and forgetting about it, but investing and saving and doing other things so that we don't panic when checking the price of bitcoin, which keeps changing every minute.
That's what I've been trying to do so that I'm not affected by the rise and fall of Bitcoin prices and can be calm when investing.
But there are times when I can't control my feelings when I see the price dropping too far and when that happens, I choose to calm myself down and leave my phone at home so I don't check the price too often.
But if someone chooses to invest and forget about it, they must really be able to store bitcoins.
Otherwise, they will lose their bitcoins, especially if they cannot properly store everything related to their wallet.

Makes sense. Of course, this is very dangerous if we completely forget about our investment without following the information and Bitcoin price movements while waiting for the bull run market. It would be fatal if at any time Bitcoin or altcoin encountered problems that caused the price to drop to nothing, I don't mean to do FUD but rationally this could happen, I put my money in Bitcoin and I'm also wary of that, that's why I carry out hodl by continuing to follow Bitcoin information and developments. At least we are ready to take the first step in securing investment.

That's right, using the DCA strategy doesn't mean you will continue to buy it whatever the price, especially when the price has risen too high. Carrying out DCA there should be a target where you should stop buying, and only take advantage of significant dips to make purchases when the price is too high and stop buying periodically.
In my opinion, the DCA I do is buying periodically when the Bitcoin price is still below 50% of the previous ATH, and increasing purchases when there is a significant decline. And normalized periodic purchases when the price of Bitcoin was going up, and continued like that until I stopped doing it which I thought was the right time. And only buy at top prices when there is a significant dip as this will inevitably happen which will eventually come back up, and Hodl in the long run.

Investing in Bitcoin and forgetting about it is just a cliche in my opinion, because we are not in a time where there are doubts about Bitcoin at that time. And currently Bitcoin is so popular that I think we will hear or see news or reports about the development of Bitcoin that will tempt us to see and be tempted by the increasing profits.

If I tell my personal story, when I invest in Bitcoin, I see several times a day how much it goes down or up. I immediately panicked because of this. However, it may be a good idea to invest and forget, but it is doubtful for whom it will be feasible. Because I can't control myself for it. I have reported it several times. But if someone is able to do this then it will be a great experience for him because when the price of Bitcoin goes $100-200k he will get a big surprise and a huge profit.

I believe the idea here is to avoid early and have a target take profit on a certain period of time. I understand the your logic since I experienced this miss profit when Bitcoin initially reach during 2017 but I still hold on until I manage to take profit on 2021 profit which is x3 of the ATH of 2017 that gives me more profit compared if I take profit during 2016 since there’s no guarantee that I will still buy back using my profit.

The problem on trading is fear of missing out or afraid to buy at all thinking that price will dip more. I believe holding on long term is really the best strategy but not to the point of forgetting it just to not touch it. Maybe once a month or yearly check is good just to make sure asset is still safe on wallet.

It's true and not wrong, many people lose funds if they invest other than BTC, especially if the price goes down. What is generally seen is that if we are in the uncomfortable position of having to sell during a decline, the potential for losing money is quite obvious. If we are patient, perhaps another option is to hold on and hope the price rises again while risking higher losses if the price continues to fall.

It cannot be denied, anything can happen in the market and this digital financial system has served us well, but I think the time is not yet for BTC. Regarding the consideration of a crash, caution must be taken but, if we look now the bigger economic behavior is currently in Bitcoin and many large trading companies are coming to the table with their money to invest in BTC. I personally think BTC is still very promising.

I would not recommend to forget any kind of investment.  This is one of the reason why many people missed out on profit in altcoin.  Although Bitcoin is believed to be ever rallying even with dips, it still ends up breaking its ATH, forgetting our Bitcoin investment may make us not to remember it.  Instead, we should be firm with our beliefs and keep on holding while we keep ourselves updated on current events.  We never know what the future of Bitcoin is, so the possibility of the Bitcoin market crashing and never recovering may happen.  If this happens we will end up missing the opportunity to sell at a profit.

Will continue to make purchases before reaching the previous ATH price, Yes this is a commitment using the DCA method, to make a profit I will sell some to gain a profit and not sell everything straight away.

Why isn't it a good idea to buy at $50K? I think it's still a good idea as long as the price hasn't touched ATH, even if you get a small profit, for example 2x, then that's good enough, right? Here I refer to DCA so the price of $50K is not the full purchase at one point but rather the average price ($20K - $50K).
We'll never know if that was the $100K high? What if the price exceeds that, of course the profit will not be 2x or even above it.

Having done it long ago with bitcoin purchases, here I am looking forward to $100K in the future.

And what is the high price, when will you stop buying Bitcoin? This is a fairly important question that can ultimately determine the profit you can make.

You say that you can buy even up to a price of 50k, but I don’t think that this is a good idea, since this can greatly affect your price and in the end it will give you the opportunity to make a small profit, if for example you sell at a price of 100k and it will give you only x2, or a little more, then this will not be the best result that can be obtained from an investment in Bitcoin.

You need to try to buy as much as possible now if you haven’t bought before, because from the current price to 100k, you will make a much larger profit.

I really like the valuable comments Op made about Bitcoin that really put it into perspective. Currently the demand of Bitcoin is increasing day by day and its popularity has also increased manifold so my personal opinion is that if we can hold Bitcoin for a long time it is possible for us. So in that case we can get high profit through Bitcoin at one time. So for those who can afford it, I would say hold on to Bitcoin and see if you can sell it at a higher price next time. This will improve our financial condition.

Cryptocurrencies offer an impressive value proposition where you can invest small amounts and make big profits. However, this doesn't mean there are no risks. So minimize risk by diversifying your portfolios when investing in cryptocurrencies and Bitcoin. Just as there are no guarantees, there are no guarantees when investing only in Bitcoin.

Bitcoin is the most important cryptocurrency and the least risky in terms of investment because of the value environment it creates and its value protection against inflation, as well as being an asset that is becoming increasingly difficult to extract. For the long term, i always prefer Bitcoin but i don't always put eggs in the one basket.

There is nothing wrong with this suggestion, it is good enough to motivate them, but I would like to ask if everyone can afford to buy bitcoin at once at $27K now? If they use the DCA strategy then it will be done along the way and not buy at $27K even up to $50K when it must be bought because of DCA, what about their journey will it be smooth? Not that easy even though I also always advise them to HODL bitcoin until the bullrun.

$100K is a realistic prediction, sometimes many investors sell midway because they have made a profit even though they are not at the $100K target, that is their choice but again it requires a lot of mentality and strong understanding, I myself feel strong enough even though I will continue to do DCA until the price is high.

Bitcoin proved that it is an asset that can help newbies who don't understand the market well, some individuals says that if you don't have knowledge then you are unable to hold bitcoin but I will say that only little understanding is enough to hold bitcoin and the rest of the knowledge is easy to obtain once you become a part of crypto community.

Now there is not a big pump but very soon bitcoin will be pump to return our hold money. At least four years you will keep your bitcoin because it is not matter of seconds and neither you can get knowledge in a second nor you will earn in a second but its like a job that once you initiate job you will give time to it and will not leave until you reach to the age of 60.

There is no specific age for bitcoin investment but if you start investing now then after years it will give you huge money that it will be enough for your whole life.

The aspect of hacked that particular statement is been depends on the way you keep your seed phrase, and it's also advisable for someone who is into bitcoin to know that either you use a wallet that have high security or not you don't need to expose your wallet to air, and secondly you have to follow things in way that can protect your bitcoin.

It is good advise to invest in Bitcoin and just forget about it till you actually want to remember, but the issue is how to endure the process of achieving this feat.
 If DCA strategy is what's employed for this, the duration for the DCA will be added to the duration of forgetting because you can't actually claim to forget your investment and still DCA .
Also, the fact of buying the Bitcoin at once is good but can you really afford it?
Remember also that not your keys, not your coins, incase during the forgetting period, hackers get their way into your wallet or you don't know your phrases anymore.