Topic: Keep your bitcoins for at least five years - page 2. (Read 640 times)
We have to hold our coins for years (if not trading with them) as bear market can last for years. We had that situation from from 2013-2017 and now we have it for 8 months. So, we have to be prepared for long run and be patient.
Recently, San Francisco hosted a financial conference MoneyShow, where the speaker was the well-known analyst Charlie Schrem. He believes that those who invest in cryptocurrencies need to keep their investments for at least five years.
"Choose something from the top 10 or top 20, choose carefully, study and then invest. Any cryptocurrency that you buy, keep at least five years. Just fix your portfolio for this period. There is a high probability that its value will grow during this period, as bearish and bullish trends in the market usually last about 2 years.”
Cryptocurrencies are the most volatile asset of all known. Daily growth or fall of 10% has become the norm, and similar movements of 90% for the year are still possible, at least so showed the current and previous bear markets.
And although bears sometimes take precedence over the crypto market, but every two or three years there is still a rally that takes bitcoin and other cryptocurrencies to new heights. Thus, if investors follow the advice of Shrem, they are likely to earn.
Schrem was one of the first crypto-enthusiasts. He started investing in bitcoin back in 2011 and is a co-founder of the Bitcoin Foundation. In addition, he founded BitInstant crypto-exchange, which held 30% of all trading volumes in 2013. It even invested Roger Ver and the Winklevoss Brothers, but later she was forced to pay a fine of $1 million for the fact that someone used bitcoin to buy illegal psychoactive substances on Silk Road. Because of this, he also spent a year in prison.
But despite all this, he remains an ardent supporter of bitcoin and is now the head of crypto.iq-a company that gives investment advice and provides the necessary resources. He believes that the emergence of more than a thousand new cryptocurrencies is undoubtedly a good thing, but bitcoin will always be the king of the crypto market.
"These 1600 koin are "guerrilla marketing". They all appeared on everything ready, built by bitcoin in the first days of its existence. They entice people, they care about them, but bitcoin will always be a "daddy": the gold, in which most of the crypto-investors keep most of their portfolio. After some time, you will see that the total number of bitcoin transactions will fall, as people will use it more to store savings, because it is known that if it fails, then all cryptocurrencies will fail.”
"Choose something from the top 10 or top 20, choose carefully, study and then invest. Any cryptocurrency that you buy, keep at least five years. Just fix your portfolio for this period. There is a high probability that its value will grow during this period, as bearish and bullish trends in the market usually last about 2 years.”
Cryptocurrencies are the most volatile asset of all known. Daily growth or fall of 10% has become the norm, and similar movements of 90% for the year are still possible, at least so showed the current and previous bear markets.
And although bears sometimes take precedence over the crypto market, but every two or three years there is still a rally that takes bitcoin and other cryptocurrencies to new heights. Thus, if investors follow the advice of Shrem, they are likely to earn.
Schrem was one of the first crypto-enthusiasts. He started investing in bitcoin back in 2011 and is a co-founder of the Bitcoin Foundation. In addition, he founded BitInstant crypto-exchange, which held 30% of all trading volumes in 2013. It even invested Roger Ver and the Winklevoss Brothers, but later she was forced to pay a fine of $1 million for the fact that someone used bitcoin to buy illegal psychoactive substances on Silk Road. Because of this, he also spent a year in prison.
But despite all this, he remains an ardent supporter of bitcoin and is now the head of crypto.iq-a company that gives investment advice and provides the necessary resources. He believes that the emergence of more than a thousand new cryptocurrencies is undoubtedly a good thing, but bitcoin will always be the king of the crypto market.
"These 1600 koin are "guerrilla marketing". They all appeared on everything ready, built by bitcoin in the first days of its existence. They entice people, they care about them, but bitcoin will always be a "daddy": the gold, in which most of the crypto-investors keep most of their portfolio. After some time, you will see that the total number of bitcoin transactions will fall, as people will use it more to store savings, because it is known that if it fails, then all cryptocurrencies will fail.”
The point of view of the speaker is very well explained and because of this I may also keep my altcoins for about five years from now, but those are only chosen altcoins like what the speaker said, only top 10-20 or maybe lets make it top 30, Im gonna choose altcoins from that top 30 that I believed has the potential to grow after five years. We'll try it, anyways cryptocurrencies were a risky thing and Im gonna gamble for it.
I fully support that idea. I am set up to hold cryptocurrency in the long term. Especially bitcoin. There are also some good altcoins that I think will be much more expensive in the future.
Bitcoin is a coin that will always go up. Maybe slowly but steadily it has able to maintain its top position in the market and the price which was facing down fall from the beginning of this year it has recovered well. So no one should sell bitcoins right now.
I for myself found out one, it is better to sell at peak and to increase the bags, than just to sit and watch!
How can you predict something for 5 years ahead? For 5 years, the top 20 coins can pass positions to new projects, with the exception of bitcoin, of course. Of course, projects from the top 20 have made a revolution in their industry, but this does not prevent someone from making a revolution again.
This could be a great step to becoming a millionaire without doing any business. Ten thousand worth BTC holding for five years will turn anyone a millionaire, but who dare to do that when most people fall in altcoin trap of huge profits commitments? Well, if 10k is huge, maybe you can hodl 5k worth BTC for five years, good luck.
Yes, I agree, now the market will grow for a long time, since there are a lot of altcoins, and there are not enough investors in the market.
At this time the emergence of more than a thousand new cryptocurrencies is undoubtedly a good thing, and bitcoin will always be the king of the crypto market.They remains an ardent supporter of bitcoin and is now the head of crypto.iq-a company that gives investment advice and provides the necessary resources. so u can easily Keep your bitcoins for long trum .
Awesome article and advice. IF you pick the correct coins and hold long term you will make immense gains. The beauty of this horrible market is if your looking ot build long term positions and you are able to pick quality, long term you will only win with this strategy.
I don't think anyone need to be told to hold or sell or give out his or her bitcoin for free again the decision is for individual to make
It is not a bad policy but how many people have held their coins for five years? I consider myself a long term holder and I am planning to hold for that long or even longer if necessary and yet I only began to hold my coins two years ago, so how many people in the forum qualify as long term holders of five years? Especially when this market is only 10 years old.
I believe that it is correct to keep your cryptonyms for a long time. But not everyone can stand such a long time, for this one needs strong patience. Also, a big plus of what you can earn is also a large sum.
The "buy and hold" strategy has always ensured good profits in the long term, as the big investors say. If you are sure that in five years bitcoin will not disappear anywhere, then 100% it will cost more than today.
That’s right because you never know how the market will work in next year. For the users who have bought last year with high price now they are getting low price. If they sell coins now it will be a big loss for them. So they need to be patient and wait for the price to rise.
I very much support the above mentioned as long-term investment is the heart of the crypto currency. With the help of this you can get up pretty well. Just need to have patience for a long time to hold the coin.
This is for long term invest. Yes! i agree and support your plan. Holds it for at least five tears and earn a huge profit from your investment.This is good only in long term invest.
Personally, i think this should be a personal decision although I see sense in what he is saying, if bitcoin is this price now, it would definitely explode in 5yrs.
There are two types of trading, short time and long time. as your query, keeping Bitcoin for five year is a process of long term invest.Now in current time, the price of Bitcoin is slightly low but prediction say it will rise before the ends of the year. So Buy and Holds for a long time to be profited.
No doubt bitcoin is gonna be very precious and expensive asset in next five years, i cannot wait to see one satoshi equal to one dollar, i know it will be huge milestone but it is realistic especially if we see more bulls like we seen at the last part of 2017.
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