Topic: My passion on bitcoin - page 2. (Read 578 times)

Volatility is one of the reasons why people invested in Bitcoin. They knew that the price increases and decreases so fast that they can be millionaires just over a night unlike the traditional forex or stock market. Others may say that it has huge risk but people want that risk and are risking their investment on it. That is why they love Bitcoin aside from making their transactions anonymous and also making it another form of payment method it also gives them a chance to earn extra profit on it just by holding or trading Bitcoin.

Traditional finance will continue to be competed with by modern finance because now everyone is considering easier use with quality that is not bad in the financial sector. And of the various types of investment currently available, Bitcoin has been included in everyone's best choice so it cannot be denied that the development of cryptocurrencies continues to be seen every year because this is triggered by the increasingly widespread use of Bitcoin in all levels of society.

So don't be surprised when there are some people who continue to learn and continue to like the crypto space to get Bitcoin to be able to invest long-term for themselves. And spreading investment into several aspects or certain models is not bad at the moment as long as the choice is appropriate and wise enough for each of us.

Volatility is not the problem but what people consider most important because most of us are here for profit and not to support and promote bitcoin technology. I even doubt that if bitcoin did not have such huge volatility, would we continue to support bitcoin?

Many people are like OP, they say they are passionate about bitcoin but for me, we are passionate about making money, not passionate about bitcoin. Like I said, if bitcoin were no longer volatile and profitable, would OP still be as passionate about bitcoin as he is now?

There is no emotion here in bitcoin it depends on the individual's own decision when it comes to investment. If the market is always volatile and there is a risk to be taken then bitcoin is a good investment and has the potential to earn high returns if held for the long term. After the success of bitcoin many more such virtual currencies were introduced not all have been as successful as bitcoin this hints at a future financial system based on virtual currencies. They buy when a cryptocurrency is high sell when the price drops and then miss out when the price bounces. If the price drops and you no longer think that cryptocurrency is a good investment then you should sell falling prices shouldn't be the only reason you sell.

Believe what you think is right OP. Many people have come and invested in Bitcoin, so I don't think we just ignore it while seeing a lot of people are already involved in this. As long as you can afford to take risks and understand how it works, investing in Bitcoin is a great idea. Volatility is not a problem and perhaps, it was important because this will be the reason why we become profitable as we take the opportunity of buying low and are able to sell them high. It was not just we have a passion for doing this but it is all about how we strategies our investment.

It's true, Bitcoin has disrupted the traditional financial landscape. But remember, it's a journey with its share of bumps and highs. Diversification is often a good strategy, so consider spreading your investments if you get the chance. And you're spot on about learning – it's a lifelong adventure, especially in the ever-evolving world of cryptocurrencies!

Bitcoin is a risky asset due to its fluctuating price. Investing in bitcoin is certainly different from investing in other cryptocurrencies which carry greater risks. Not because market prices are uncertain, but there are other things such as fraud after we put a lot of funds into it until finally a loss is the result that will be accepted.
Bitcoin are limited in quantity and will become scarce when the supply reaches the total. So, many people use it as an investment asset and for me it really meets the expectations of investors. Making bitcoin a transaction tool for sending and receiving is the main thing about bitcoin.

The desire to have large amounts of bitcoin in a portfolio is dreamed of by many people who already understand bitcoin. Let it be stored safely in your wallet and will sell when the new ATH is reached.

That's the easiest and simplest explanation why we're telling people to hold for long term or until the next bull run cycle comes. I beg to disagree about holding as easy thing. It's actually hard and if you're not yet decided yet, you're going to play on your mind whether it's worth it or not.

It's hard but it's worth it as per experience.

The traditional investors will argue that it's also good as an investment but the long term of it doesn't give much so as the short term.

Well, isnt that the truth?! Admiration is different from obsession, right? Bitcoin is a highly effective tool with huge potential. People shouldn't jump into Bitcoin without understanding its complexities, just like they wouldnt give someone a chainsaw without seeing one.

Yes, telling friends, "Hey, I own some Bitcoin!" is cool. Many things happen behind that digital curtain. It empowers asset control and worldwide payment systems, but its not easy. Similar to buying a showy car without driving skills. Nice in the garage, but on the road? Another story!

Always remember: Knowledge is the best protection against Bitcoin's unforeseen behaviors.

I only see it from the scarcity side of things where the number of bitcoins mined has greatly reduced.
When something becomes scarce, the price "will probably go up high" so I think bitcoin will be like that when it goes up high in the future.
Indeed, we don't know anything about the future because anything can happen, but at least we have seen what has happened to the bitcoin cycle so far. Hence, there is a possibility that history will repeat itself.
Those who bought in 2021 will experience losses and some won't and it depends on how well they hold their bitcoin and if they can hold their bitcoin through this bear season, they will start to see those profits coming.
But if those who bought bitcoin in 2021 continue to buy bitcoin throughout this year when the price is still under $30k, it will be very worth doing, especially when they bought a lot of bitcoin when the price was under $19k some time ago.
Obviously, the average price at which they buy bitcoin will also decrease a lot.

They can learn to face the risks by looking at the volatility of bitcoin prices and from there, they can find out what they need to do and when they finally decide to invest in bitcoin, they already know how to adapt themselves to face the risks.
Investing in bitcoin without knowing or seeing the course of the bitcoin price so far only creates confusion for them because they cannot yet describe what they should do.
If it is trading, you need to read and learn about indicators and trends and look for information related to trading before you try trading using a demo account.
It's better to read and study the theory before we practice because if it's together, it will create confusion but come back to each person about what he thinks can be effective to do.

How will you learn to deal with the risks and volatility of bitcoin if you don't invest in it? I always see people advising newbies to research everything before investing in bitcoin including learning the risks and volatility. But if we don't invest in it, how can we experience the volatility of the market? Just like in trading, you will never become a real trader if you only learn theory and use a demo account. Because when you use a real account and real money to trade, everything will be very different from what you learn from theory. Theory and practice must always go together to be effective.

Everyone puts in "the passion" they want but don't forget about the brain, bitcoin is not a hobby, much less something that you can simply ignore if you use your savings, bitcoin has made it possible not only to create empowerments with people in simple things like power having safekeeping of your assets, accessing a payment system, in short those premises that you surely know beyond its simple price based on its volatility, something that apparently is what some only see, and it activates their passion.

That is, bitcoin allows anyone to immediately become an "investor", theoretically, but in reality 90% of people only buy and have no idea what it is like to manage a volatile investment like bitcoin. Be careful and carefully review the amount of money you are investing and know your investment return times well.

By holding bitcoin for one cycle means that a person will face the whole characteristics of bitcoin like that are ups and downs as well as special events such as halving because halving occurs after every four years.

So if you keep hold your bitcoin for four years and halving arises in this duration of holding then you can easily take benefit out of it. Holding is not a difficult work but if your money is not needed for other activities.

Gold is better for short term because in previous week the price was not so good but now again it reaches the value more than the actual price so if someone put money for a month he can get the benefit easily from gold.

They are used for different things. Gold isnt very dynamic, but Bitcoin is, with its roughly four-year cycle. But, you know, humans are creatures of habit and sometimes, old habits die hard.

After hearing stories of quick wealth and prices going through the roof, a lot of people get into Bitcoin. But they are sailing without a guide because they dont understand the four-year cycle. This is most likely why people fall into the two-year trap: they see things in shorter time frames. Getting standards in line with reality is what it takes. For those who understand Bitcoin's cycle better, they might get more out of their capital.

History has shown us that bitcoin always makes new ATHs, but that doesn't mean history will definitely repeat itself. I also hope history repeats itself, but we should not speak with such certainty and certainty, when talking about the future, anything can happen.

Furthermore, those who buy high in 2021 may not suffer losses but will take a lot of time to break even before thinking about making a profit.  Meanwhile, bear season buyers made huge profits as bitcoin returned to its old ATH. It's a waste of time and I also call it an investment failure, because while everyone else is making big profits, you're just breaking even or making a small profit.

I have also seen a reality that is very consistent with the facts in life where gold is still better to own for short-term hedging purposes. Because holding gold for any period of time is not suitable for expecting a lot of profit from it, as for Bitcoin I also really agree with the fact that you stated that in every cycle for four years Bitcoin always increases sharply so that everyone actually needs to hunt for Bitcoin when a downward cycle occurs and holds onto it until it meets a four-year upward cycle once again in order to take advantage before the next decline begins.

Because it is very clear that holding Bitcoin for a period of just one or two years with the aim of hedging and making profits is still less effective. This is because the cycle that occurs in Bitcoin is not every two years, but every four years as you said, but I just wonder why there are still many people who don't understand this. And even still blame Bitcoin when its goals don't get where they want it to after they held it for two years.

Those who bought bitcoin in 2021 did experience losses but if they still hold their bitcoin and don't panic about everything happening, they still have the opportunity to make a profit.
They can even buy more bitcoin when the price of bitcoin is still at a low level so if they buy it now, it will be a profit for them later.
A bitcoin investor will not panic even if the value of their investment decreases because they believe the price of bitcoin can exceed the previous highest price, which has been proven.
And when there are people who still want to buy bitcoin at this time, it means they are thinking far ahead and will calmly go through each day.
For this reason, many bitcoin investors are long-term holders of bitcoin because they see the potential for the price of bitcoin to increase very high in the future so they continue to buy bitcoin at low prices.

It depends on how long they hold the bitcoins. I see people constantly saying that bitcoin is a good hedge against inflation but for those who bought bitcoin in 2021, the value of their assets is even worse than being eaten away by inflation. Bitcoin has dropped more than 60% from its ATH. To me, bitcoin is a good inflation hedge if one holds it long term for at least 1 market cycle (4 years). For those who hold bitcoin for 1 or 2 years and especially during bear season, it will not be effective against inflation as it can lose 50% of its value in a year. Gold is still a better bet than bitcoin in the short term.

Preparing yourself by equipping yourself with research and gaining knowledge first before investing in Bitcoin is a very good start. Usually, it's rare for people or newbies to do this. But if you do it seriously, this will have a good impact in the future. Not only that, investing in Bitcoin is also considered high risk. but with a good understanding beforehand, we can consider and ensure that we understand how Bitcoin cycles and how Bitcoin will be valuable especially to ourselves first. There will be no regrets as long as we understand what we are investing in and we really know how to prepare it well. This is a Bitcoin investment that should be done as prepared, consciously, wisely and smartly as possible.

Actually BTC is a good financial tool, if the investment strategy is long-term hodling. However, in general, it's better not to invest all you have, since BTC is vulnerable to official policy towards exchange hubs, this can bring some instability of is price even if the market price is stable: most exchange hubs have rights to set fees at any level they want, so if there is local fiat inflation, most probably btc would be also affected (not in global market, but in local market, due to exchange hubs).