Topic: Lesson to Bitcoiniers (Read 162 times)

Wetin I understand from dis guy story be say di guy na Bitcoin believer, but him be bad holder and bad planner. Him be believer in di sense dat him get basic knowledge about bitcoin and him believe say Bitcoin go bullish one day na him make him dey buy and hold. Even when dey market crash, him dey very happy and him see am as an opportunity to acquire more Bitcoin.

As a bad holder be say as him dey buy and hold, him no set a particular target price to sell to make things easy for am or di price wey him set to sell dey unrealistic and wen Bitcoin get to 70k, e come crash back to 35k.

As a bad planner, him no do a proper estimation of di cost to buy and renovate him house. Even when him decide to sell him Bitcoin at 35k for the house project, him still dey touch di remaining Bitcoin small small because e no calculate well, then di divorce saga come follow make am spend him remaining Bitcoin.

Forget the gains and all that, to hodl bitcoin for long term no d easy to do. If you hear the stories of all the early adopters of bitcoin, all of them dey point out how they sell their bitcoin at a low price compared with today's price of bitcoin. To them, when they sold their bitcoin at that time, they felt that the price bitcoin d that time d at high price not knowing that bitcoin go kukuma skyrocket more than they can imagine.

The same thing is happening as of now. Majority of people the convert our bitcoin to USD to solve personal issue, with the idea bitcoin go grow more in price soon but due to financial burdens wey d for dia way, no d kukuma allow them to accumulate more bitcoin as dem supposed to.

This time around, for peso to comfortably hodl em Bitcoin without selling it before the bull run happens, go be unless  sae the peso get job wey d pay am, or em dey invest for bitcoin with spare money. Any other thing apart from that, there is 100% chances sae, the peso go sell em bitcoin before the bull run start for personal needs of money. Naso d thing dey so.

Don't allow those who don't have knowledge about BTC to advise you because, they will never encourage you to make progress in your crypto investment because you sound like someone that is afraid about BTC or crypto already. Those that loss their BTC because of their careless will never speak good about BTC because, they keep telling us to keep our seeds phrase in a secure please so that hackers will not have their way into our wallets. Well, if you don't have the knowledge of BTC or crypto investment ask questions here because professional are here to guide you from their experience, and you will not regret when you work with their advise because they have be into this field some years and they have experienced many things that will help people like us to grow financially and mentally in the community.

Alright! Make I talk something first before I continue. You can't hold bitcoin forever unless u plan to pass it onto your heir. Any investment you do, at one point in your life, you will need the profit and the money that was set as capital.

I don't think there is nothing to feel bad about this if he made profit from those bitcoin that was bought, I see clearly he even pointed out that he made good profit in shorting on bitmex which was quite great. The only mistake I think he made was really selling everything when he was supposed to keep small for the future but nevertheless, nothing spoil because the past is gone but the future can be plan while he still alive, all he has to do is to buy the amount he can afford now.

There is more halving to come but don't make it as if it's a guarantee that bitcoin price will continue to grow up, we all want that but with the way he is terrified and regretting, he may put all his life saving back to bitcoin and if it doesn't boom like the past experience, he will be devastated. Not good to give people high hope about investment, instead tell them to buy the one they can afford to risk.

For this bitcoin mata me I see am as something wey we suppose dey patient I mean those traders or investors. If the market no too dey favorable I believe say e dy push some people to sell and ones them sell something big go just come out and you go hear cry like oh how I wish, so these things na about decision oh, to make the right decision at the right time. So I no too blame people wey sell at the wrong time or wey hold at the wrong time, like you talk OP nobody know when the whole thing I mean the price go skyrocket.


Na the problem be that oh, if say we fit predict when the price go skyrocket you go see how people go just feel relaxed becos them know the next time the price go dy in their favor, like this now Bitcoin con be like gambling wey them no dy fit predict correct and e get one thread wey dey Should we rely on prediction?
Some people dey always follow prediction well well when e com to Bitcoin mata, for me I no think say e make sense.



Why e no be say nah all the 32 halving go come out as expected? Me I just see am as something wey una think say go happen and people too dy put hope for wetin no fit happen anytime soon bcos the way BTC price dey shake up and down I no see am to happen bcos me I believe say if something big wan come concerning Bitcoin if e no happen now ma say I no sure say I fit say e go happen.

My brother this bitcoin of a thing no be easy thing o...person no go hold bitcoin come dey roast for poverty. From that guy story you go know say no be poor background that guy from. The guy Don dey see money tey tey and him still dey see money.
If you get bitcoin come get emergency as Op talk, if you no get money another place to help yourself, just use your btc o..
If you die leave your bitcoin, other people go still enjoy am.

My advice na to use DCA dey invest as you can weekly. Be it $5, $10, $15, $20 as your strength carry.

We all don talk a lot about how we holds bitcoins in a short while and quickly jump to sell it.

My question about this na...
*How are you prepared to invest on bitcoins?
*What is your goal to invest on bitcoins?
*When is the right time to sell ur bitcoins?
*What would prompt you to sell your bitcoins?.

Dear Bitcoinaires, specifying on this concept in the selling of bitcoins as many has expressed it's experiences contrarily to their wills on how they ought to hold their coins for a longer time is  extremely a call to order of no regrets.

The goals of trading on Bitcoins is of no difference from a stocked investments. They all serves as means to provide you incomes.

I want to ask the category of BTC investors this.... Do you think BTC is a trading firm expected to have a periodic maximum fixed elasticity?
Of course not. BTC is a revolving crypto currency exchange that has no determined margin of assurance on what value it would within a tickle of an eye.

Though Bitcoin requires patient and mostly, it requires you to have a job aside that is if you are a beginner or a low income Investor otherwise, there should not be a panic if you sold your coins quicker that later as long it yield you income as a goal of investors.

If you don't make a withdrawal or get to sell your BTC somedays either now, later or then and you keep multiplying with millions stucked on your BTC wallet time after time without selling out and no withdrawal then it is equal as you don't have a productive investment.

You don't go hungry when you have food stuffs stocked in your kitchen though you should eat and remember there is tomorrow and also work ahead to restock.
Meanwhile... Bitcoin is of a denominations with the possibilities of inflations and deflations.

Maybe for further conciousness in decision making, you should consider these that Bitcoin price is mainly affected as follows...
*Investors sentimentality
* Availability suppliers
*Competitiveness in the crypto values and
*By the market demands.

To hold bitcoin for a long period of time is not easy, especially for people that don't have a means of income, or people that used 90% of their income to invest forgetting that an emergency can occur at anytime. This is why all investment needs preparation and having a goal to achieve. If you go buy bitcoin like that man wey dey regret say him get 20BTC but only get one due to the calamity wey befall am, you will end up in regrets.

If you have a means of income and you have invested into bitcoin, because bit coin price is pumping and you have seen a good amount of profit based on the size of your investment, this doesn't mean that you should quit your job but rather continue with you job and ignore your bitcoin investment, because most times, you will feel that you don't need that job anymore. Forgetting that you need fiat to survive. If you totally depend on only your investment for survival without earning, this means that you will end up selling at the time that you didn't plan for and that will lead to loss and regrets because you think that having a bitcoin investment is having a job. An investment is not a job because it needs time to grow and flourish before you can start getting profit from it.

Only use the money that you can avoid to lose to invest in bitcoin and not money for an emergency or money that you borrowed, so that you can have a rest of mind and hodli without regrets. With this no matter how an emergency occur that is beyond your fiat expenses, you will only be forced to sell a little fraction and buy back later when a unexpected funds comes in.

Well, before you start any investment, I believe you already have good plans for the investment (like you have imagined how much you can profit before you either build a house, buy a car or start up another business and then still invest in Bitcoin with your profits from the business you are doing), and I believe if any person already has a plan for his investment, nothing will make that person to sell his coins unless he has gotten what he wants.

Although it is not every investor that can discipline themselves like that, some investors, mostly new ones, rush and sell when prices begin to drop and it is not good. People who don't have a portfolio always end up losing their money because, as they don't have a portfolio, they also don't have a strategy to accumulate.
Anyway, what I understand is that, as an investor, you should never be too happy while profiting, so you will not end up making the wrong decisions.

Nothing like phrase wey dey Bitcoin investment sha but if you ask me I go say we fit categories dem into four stages;

• Learning about Bitcoin
• Buying Bitcoin
• Hodling
• and Selling

Before you invest you suppose sabi wetin you'dey invest inside and to increase the knowledge more you continue learning after you dun invest like to dey stay upto date. After you dun buy d bitcoin na the Hodling stage next and this stage you need hold the amount of Bitcoin wey you know say you fit hodl and ignore anything wey market dey do. The Hodling go be for your personal non custodial wallet. And doing dis will help you not to get temptation say you wan sell because if e dey exchange, e no go hard you to go click the sell button. When you dey invest in Bitcoin, try make the investment amount no go be money wey go make you dey get double mind everytime wey market shake small.. this na the main reason why people dey go rush sell their Bitcoin (na because dey invested more than they can afford to lose).


One advice I dey give people na say, no go invest money make hunger go kill you oh. As you dey invest, keep the one wey you go chop and if things no work out as you plan am no hesitate to sell but for only important things that need monetary attention. The market no dey stay up forever opportunity to buy again go come. Apart from emergency, sell when you dun reach the target wey u been set from the very beginning of your investment to avoid regrets. Shey e get reason why you Invest in Bitcoin (fit be to get money to pay for school fees or house rent etc) when you each that target just sell and take profits so you no go dey regret tomorrow if the bear market come. When you sell you fit buy again and our mind go strong because funds dey account to use hold body.

My brothers I carry this tory come make all of us learn from am oo, the ability of person to buy bitcoin, no be there e end oo, na just the first phase be that and I don see professionals dey advise say make e be say trading bitcoin to fiat or any other thing no too enter our head, because if we nor fit control our self even after we don get one kind gain from the holding of bitcoin, before you go know we don go sell our coin loss very big opportunity. Make we nor forget say time lost can never be recovered, opportunity wey we miss don go(otilor).

Although I no say we nor fit predict the future 100% every time, so some kind things fit happen wey dey against our will and we fit no get any other option than to sell, but if no be so abeg those wey dey into holding no give up easily. E get one baba wey share en experience of how e take loose guard with en coin, I believe say after we read am finish e go open our eye to see how this crypto life be like.



NOTE: out of 32 halving we still get 29 more wey go fit skyrocket the price of Bitcoin, so e never dey late for bitcoin holding and accumulating more coins.

I get question to ask my superior dem for this forum:
Abeg apart from emergencies, when be the right time wey person fit sell en bitcoin?