Know your time to HOLD - page 10. | Bitcointalksearch.org

Ojima-ojo

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Quote from: xSkylarx on May 18, 2023, 08:53:16 AM

It looks desperate, and the fact that you bought it in the same year shows that you are really after money. The fact that you said that it will start pumping and pumping means that you should not think about it; you should have a basis no matter what. For sure, you've just invested for thoughts or hype around you, which for sure makes you not last in bitcoin holding. That is really the cycle of bitcoin holding, and I hope that you'll learn from it and reflect on it. You won't get rich in just one year of holding Bitcoin; you need a few years.

The ops have lost every sense of it and there is a high possibility that he will slide into depression if his expectations failed to materialize I am sure he is not ready to invest on a long-term basis due to his high level of impatience, it baffles me how members forget the phrase that state, invest what you can afford to let go for a long time.

Most of the newbies have in recent times shown some level of inpatient and unwillingness to learn from experience rather they just want to cash in on the gains.

lalabotax

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Quote from: Call_Me_Guru on May 18, 2023, 06:56:05 AM

I have waited for the price to reach $25k for me to start pumping my money, it never reach there. I grows impatient daily, I won't wait more than 1st of July, any price I see it is what I buy.

The price of Bitcoin is always up and down significantly. We have met Bitcoin price at $30k again after so long, but the market has been dropping significantly currently and they are touching $26k again. If this is for a short holding Bitcoin, I am sure that many people are stressful of the current drop market that happens very quickly. But most people understand about the risk and make it as long term holding. So if the market is experiencing this droo, many more people will prefer to add the accumulation of the Bitcoin for holding longer time again .

serjent05

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Quote from: Kaliandra on May 19, 2023, 06:40:13 AM

looks like you are very excited to invest in btc, and this is a good start because not everyone wants to invest in btc.

Yeah, it is a good timing if @OP will buy BTC today. The market sentiment is currently bearish so the price of Bitcoin somehow plummeted to some percentage.

Quote from: KiaKia on May 19, 2023, 09:04:08 AM

You won't get anything from Bitcoin if you can't hold Bitcoin for a long period of time, if you are listening to crypto YouTubers and they are shilling their success stories online there is a important part you missed, they won't tell you how they started their journey, it's never going to be smooth, but they will make it sound so easy, like something you can get into and make a lot of money in just few months, that's not so true.

True that, holding Bitcoin fo a longer period of time is proven to give a higher profit because the person had bought Bitcoin at a cheaper price.

Quote from: Kaliandra on May 19, 2023, 06:40:13 AM

It's why many people on this forum are telling newbies to invest money they won't be needing for more than a year into crypto, it's because the reality is long term, if you are looking for crazy money in a short period of time you need to learn how to follow crypto money, and this is even the hardest part, like when memcoins suddenly became big after we all thought that Shiba inu will be the last best of it's kind, or go look for pyramid schemes.

It is better to invest in Bitcoin for more than a cycle, not just a year. This way we have a huge possibility of really seeing the profit we are looking for.

KiaKia

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You won't get anything from Bitcoin if you can't hold Bitcoin for a long period of time, if you are listening to crypto YouTubers and they are shilling their success stories online there is a important part you missed, they won't tell you how they started their journey, it's never going to be smooth, but they will make it sound so easy, like something you can get into and make a lot of money in just few months, that's not so true.

It's why many people on this forum are telling newbies to invest money they won't be needing for more than a year into crypto, it's because the reality is long term, if you are looking for crazy money in a short period of time you need to learn how to follow crypto money, and this is even the hardest part, like when memcoins suddenly became big after we all thought that Shiba inu will be the last best of it's kind, or go look for pyramid schemes.

I like taking the hardest way to success because it's the surest and safest way to make live changing money, not those memecoins that could destroy everything you've spent so much time to gather together.

Salahmu

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Knowing the time to hold is one thing and being patient is another thing, so patient is one of the main drive on holding btc, due to the fact that btc market is extremely volatile it goes up and down and if you're not patient enough you could loss your money.

Gallar

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Quote from: Call_Me_Guru on May 18, 2023, 06:56:05 AM

~

I have waited for the price to reach $25k for me to start pumping my money, it never reach there. I grows impatient daily, I won't wait more than 1st of July, any price I see it is what I buy.

I don't like to sound desperate, do I sound desperate or determine to make money?

~

In my opinion, your action or behavior is not a feeling of despair, but it is your strong desire and determination to be able to buy bitcoin at a relatively low price. buying bitcoin at a low price is indeed an advantage for investors in bitcoin. Because that's how it works, in order to get a fairly large income, when the bitcoin price rises. But what I can see is the words in your post. It looks like you look impatient and too hasty. My advice, don't be too hasty when buying bitcoins. If you are really ambitious to pursue the target of buying bitcoin at a price of 25k, then stay firm on that stance and don't be shaken. Unless your ambitions have started to wane, then you don't need to focus on that price benchmark. Because even if you buy bitcoin at the current price it's actually not too bad, because currently the price of bitcoin is still not too high, and at this moment I am writing this post, the price of bitcoin is at 26.9k. So if you invest now, don't get too far from your target, because if you keep waiting for the price to come back down, I don't think that's a good thing. And it's lucky if the price of bitcoin goes down, what if it keeps going up, your target is getting farther away.

SOKO-DEKE

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Quote from: DiMarxist on May 18, 2023, 05:47:05 PM

Bitcoin is not a get rich quick investment, you must be patient and strong to hold for long. Long term investment is the best for bitcoin. If it goes down or rise up, you still hodle and hodle till the next bull market.

Yes Bitcoin investment is what can make someone rich quickly, and that is something that a lot of people don't realize when investing in bitcoin, so they rush in and put enormous sums of money that they cannot afford to lose into it. However, as the price of bitcoin started to fall, they became frustrated and began protesting vehemently about their Bitcoin investments.If an investor needs high returns on their Bitcoin investments, they should be prepared to hold onto their Bitcoin investments for a long time so that they can see at least one or two bull run because bull run always follow Bitcoin halving periods, which typically take four years to occur, short-term investors are very unlikely to see a bull run phase.

jeraldskie11

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Quote from: Call_Me_Guru on May 18, 2023, 06:56:05 AM

Bitcoin HODLing for years can not be a lost affair.

You already know the answer, so why don't you just buy it now and hold until you can make a big profit? Don't rush to get rich.

The problem here is that he's waiting for the price to go back to $25k which has didn't happen. Which is slightly opposite to what he said in the last sentence. In my opinion, if you believe that holding Bitcoin for years was a good decision because price will be possibly reach its ATH then there's nothing wrong to invest early than $25k. It hurts to be left behind by the market that you waited for so long. So in order to avoid that scenario, I would suggest to diversify your capital and buy a portion of your capital everytime the price goes down.

aylabadia05

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Quote from: indah rezqi on May 18, 2023, 10:41:44 AM

Quote from: aylabadia05 on May 18, 2023, 09:57:20 AM

Don't rush to decide. Use the DCA pattern.
No one knows if the price will move up or down. There is potential that in May the price will find it difficult to go up and still have the potential to fall below the current price due to several factors.

Yes, DCA is a good choice if the OP has any doubts about price.
After all, he shouldn't push his way through seeing $25k happen over May if an eventual price recovery is a fact. Bitcoin has breached $27k which may can break $28k resistance in the near term. If the OP hadn't waited too long at $25k, then maybe he'd have gotten some returns when bitcoin instead bounced to $27,500.

Yes that's correct. Patience is actually more important than force.
Dollar Cost Averaging or often abbreviated as DCA is a very simple concept to invest money.
$27,493 is the most prominent price in the 7 days on the price chart. For today, in a matter of 24 hours, it still decreased to 1.8% when writing.

Quote from: indah rezqi on May 18, 2023, 10:41:44 AM

Quote from: aylabadia05 on May 18, 2023, 09:57:20 AM

If you can't wait to get into June, buying now will also be advantageous to keep in your portfolio because Bitcoin can make a surprise at any time.

The main point must be considered, yes it is DCA. Even if $27k was the highest in recent days, it was a lower price than early May. Buy now is fine if OP is planning a long term investment.

I wouldn't assume the OP decision not to want to wait for the $25k price tag is something we definitely can't predict accurately.
We probably won't see prices increasing this May even though an increase can still occur behind the possibility that we don't think will happen. But trying to apply the DCA method can simplify what the OP is thinking.

TheUltraElite

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So anyway, I applied as a merit source :)

Does the OP have a loan to pay back?
If yes, I suggest they stop this habit of taking a loan and trading on that money.
If no, I suggest them to hold for as long as needed until they break even.

Bitcoin investment is about patience. Here price movements can take months and even years of stagnancy. Recovering and a new all time high will be hit for sure but that will take time.

Maybe at this point 25k USD seems like a stable price, but we can go down or up from here, my guess would be down considering the news happening. Your motto should to accumulate at every drop and not think of profits right away.

Aikidoka

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Quote from: Cryptomultiplier on May 19, 2023, 06:22:43 AM

Investing like you are paying bills is more like using a DCA strategy for investment and it wouldn't be as burdensome compared to waiting for the right price to buy.

It's not burdensome for me personally, as I don't perceive it that way and this strategy has been working for me so far, I mean resulting in profits.

I know waiting for the right price to buy can be effective but instead of investing $10k all at once, you can split it over weeks or months. This way, even if the price of Bitcoin fluctuates the impact on your investment won't be as huge compared to investing the entire $10k at once.

Quote from: Cryptomultiplier on May 19, 2023, 06:22:43 AM

~snip~
I bet you haven't heard of the halving going to take place sometime between April and May 2024.
Many shifts and new paradigm would be set up and if you observe carefully during that time, you would take advantage with whatever investment you have too.

I know about the halving every 4 years and I witnessed 2 so far, so don't assume things please

.

No one can accurately predict Bitcoin's situation during and after the halving even with the introduction of shifts and new paradigms as you mentioned, but let's just hope for the better to bitcoin.

Kaliandra

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looks like you are very excited to invest in btc, and this is a good start because not everyone wants to invest in btc.

I don't think you sound desperate but you do look impatient to buy btc.
I think just do as you please because for now the price of BTC can still be said to be not too high in price, especially if you are investing in BTC for the long term then now is the best, but with the condition that you don't regret if there is a price drop because the price of BTC fluctuates and you have to be prepared for losses.

Cryptomultiplier

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Quote from: Aikidoka on May 19, 2023, 04:51:16 AM

Quote from: ImThour on May 19, 2023, 12:16:50 AM

The chances that you can predict where the market will move are way less than you think are. I would prefer you to stack and forget rather than try to buy/sell regularly or weekly.

I agree with the first part of what you said as it is indeed very challenging to predict the market's next moves especially in the case of Bitcoin due to its high volatility. However, when you mention that you'd prefer to stack and forget rather than actively buying or selling regularly or weekly, that statement is correct but there's nothing wrong with buying Bitcoin regularly as it allows you to invest smaller amounts over time.

I feel like by treating it as if you're paying an extra bill for your house on a weekly or monthly basis you can gradually invest in Bitcoin without feeling the burden of putting in a great amount of money all at once. That would make you a huge profit in the future for sure.

Quote from: ImThour on May 19, 2023, 12:16:50 AM

That's not how you should treat Bitcoin or any other crypto. News/Event based trading is something which should be done in minutes and provides a lot of advantage if you are early.

Correct, to be early with your trades right after hearing news or event can provide a big advantage. It allows you to place your trading orders at the right timing and would increase the potential for making more money.

Investing like you are paying bills is more like using a DCA strategy for investment and it wouldn't be as burdensome compared to waiting for the right price to buy.

This is cryptocurrency and in its world, patience in large amount has to be applied because there is no physical office where you can barge in and make complains or enquiries.
The right time to HODL should be in accordance to news your hear currently ongoing and also paying attention to the trends and events that might be upcoming.
I bet you haven't heard of the halving going to take place sometime between April and May 2024.
Many shifts and new paradigm would be set up and if you observe carefully during that time, you would take advantage with whatever investment you have too.

Flexystar

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You have answered your question itself. I mean the biggest challenge in the HODL is your patience itself which you seem to be breaking apart in very short period of time. Thats the thing actually we don’t want to let go when hodling the bitcoin. Two months is really nothing and you could end up waiting for years to hike the prices up to the classic mark. Imagine about the investors who has their bitcoin in wallet or cold storage since many years now. I am sure that is the example we need to keep in our eyes.

worle1bm

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If you have invested with the mindset that it will always pump then you were on the wrong side from the start only because this market is too volatile and when have you seen it pumping and pumping in 2023? There have been significant up and down from a long time so I don't know how you were seeing it.But buying is the good option at any time if you have long term holding approach in mind say 4+ years but in short term you have to manage the buy/sell period to make profits.

Bazzu

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I personally once was in an impatient situation because I wanted to buy BTC fast, and I put a buy price on the exchange to buy BTC at a cheaper price and didn't buy too for days.
but in the end I decided to buy at a high enough price and canceled to buy btc at a low price. finally bought it, but after buying it suddenly the btc price dropped even deeper and in the end I regretted not getting a cheap btc price.

so basically in my opinion we need patience in investing to achieve success in the field of BTC investment and others.

S A KHAIR

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Quote from: Litzki1990 on May 19, 2023, 04:25:56 AM

If you can buy bitcoins at $25K then you will try to hold bitcoins for a long time. Because if you buy at $25K there is a high probability that the market will go up and if you can hold it for a long time then you will get good profit.

What if he bought it for 27k dollars? This difference will be huge if you invest a large amount, but if you only invest a few thousand dollars, there is not much difference when buying bitcoins at $25k or $27k. In my opinion, it is best to buy now as there is no guarantee that bitcoin will drop below $25k. If your vision is long-term and will only sell during the next bull season, buying at $27k or $25k won't make much difference.

Aikidoka

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Quote from: ImThour on May 19, 2023, 12:16:50 AM

The chances that you can predict where the market will move are way less than you think are. I would prefer you to stack and forget rather than try to buy/sell regularly or weekly.

I agree with the first part of what you said as it is indeed very challenging to predict the market's next moves especially in the case of Bitcoin due to its high volatility. However, when you mention that you'd prefer to stack and forget rather than actively buying or selling regularly or weekly, that statement is correct but there's nothing wrong with buying Bitcoin regularly as it allows you to invest smaller amounts over time.

I feel like by treating it as if you're paying an extra bill for your house on a weekly or monthly basis you can gradually invest in Bitcoin without feeling the burden of putting in a great amount of money all at once. That would make you a huge profit in the future for sure.

Quote from: ImThour on May 19, 2023, 12:16:50 AM

That's not how you should treat Bitcoin or any other crypto. News/Event based trading is something which should be done in minutes and provides a lot of advantage if you are early.

Correct, to be early with your trades right after hearing news or event can provide a big advantage. It allows you to place your trading orders at the right timing and would increase the potential for making more money.

raidarksword

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Patience in crypto is the powerful tool to have especially for a newbie in the industry because crypto market has it's cycle that determines the market's sentiments for whether it's a bear or bull market. Right now we having a bear market which is the right time to buy and HODL for the next bull cycle. Never have impatient because those people can HODL will have the benefits of all and it will be a life changing opportunity for you if you practice more patience.

goldkingcoiner

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Quote from: DiMarxist on May 18, 2023, 05:47:05 PM

Bitcoin is not a get rich quick investment, you must be patient and strong to hold for long. Long term investment is the best for bitcoin. If it goes down or rise up, you still hodle and hodle till the next bull market.

Yeah I would completely agree with that. Anyone who thinks of Bitcoin as a get-rich-quick scheme is setting himself/herself up for failure by giving in to this delusion, which only serves to fuel an emotional mindset and that eventually and certainly leads to emotional trading on a loss. It is best to be smarter than that. If one cannot afford to invest money long term then they should not invest at all. Bills and life come first.

OP might be sorely disappointed but we have already passed 25k. So if he really needs to pay bills or something he can buy and still have a slight profit, seeing as Bitcoin is now heading towards 30k...

Although I think he will be even more disappointed in the future, should he decide to sell. But that is his decision. Roll Eyes

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