Topic: No save money inside Bitcoin for short term use because of price dip - page 2. (Read 664 times)

Normally, bitcoin is not for a short period of time if anybody has money that can be used in a short period of time. They shouldn’t invest in bitcoin; if not, there is a high possibility that they will lose that money. So for the newcomers who invest and expect a return in a short period of time, I think it is knowledge that they don’t have. They don’t have the knowledge of how the how the bitcoin market works. They thought because they heard people saying bitcoin is a profitable investment and they can invest and cash out at anytime, which is not true. 


DCA is the best method for bitcoin investment, especially for people earning monthly or daily or people who invest often in bitcoin. It makes the calculation of how much you have invested very simple to do, and you won’t get confused. Also, while investing, you will quickly know how much you have in bitcoin, but regardless, invest the amount you can afford to lose.

If anybody get money wey him go use within a short period of time, then e better make d person no even put am for bitcoin because e fit no end well. E just better make we leave money wey we wan use for naira inside our bank, or make we leave am for stable coin, but no put am for bitcoin. E fit be say na when you go wan commot d money na him bitcoin go dump, the price wey you go sell d bitcoin go don dump by then, so you will be selling at loss. If you are not investing for long term, then you have to be very careful when investing.

Na orientation most newbies Dey lack, most of them Dey reason say bitcoin na get rich quick scheme, dem believe say if dem put money, within a short period of time, their money go don grow well and things don’t really work like that, and na y e Dey easy to scam newbies.

For this recent dip, my niggas laugh me wetin no good as them see the way the price dey go down with full speed, them even dey pressure me make I sell  because according to them, say I don enter one chance, but me I no reason am as I know before say na so em dey be. I even try explain give them say all these things suppose come before bull run go start, but the more I dey straighten them, the more them dey reason am say my head no correct, so I just comot mind for them as I dey sure say them go praise me in the nearest future when the bull run start.

Na very bad orientation be that, them no suppose buy bitcoin with money wey them go need anytime soon as no one know exactly when bullrun go come, so them fit even sell in loss when needs hook them for neck.

Na this advice legit pass. DCA method go save you pressure as you dey buy am for slow and steady means. You just need get your target, so you go dey purchase small small until you reach am.

Na true you they talk because people they always think say na newbies way they always go for Short term holding forgetting say majority of people way they into short term na people way done tay well well for Bitcoin investment, so make we no they always think say na newbies be the only people way they always venture that kind of investment, so true true I like waiting you they yan because the only thing way we supposed to they do, na to they advise people way no sabi the risk way they for short term or rather trading so that them go no how them go fit make better decision for there investment because plenty people done come for Bitcoin thinking say them fit make am overnight if them enter the investment

Waiting you talk na true op as a newbie that I'm I don come to notice that this bitcoin investment no be waiting fit profit person for Short term rather na waiting go profit us in the future, most of my follow newbies they always mistake bitcoin for altcoin and memecoin way fit profit you within a short term.however  most newbie self dey see bitcoin investment as get rich quick scheme, reason is because dey no wan settle down to learn how bitcoin investment works before Dem go think of making investment.  you know if you go involve yourself in waiting you know nothing about definitely you go dey see am in different ways that is why I wan just settle down to learn how bitcoin investment works before I go start to they think of making any investment plan, As long as say money dey involved person no need to Rush make we no go experience lose in the market.

some newbies on the Forum know about trading and bitcoin and other cryptocurrencies,  been a newbies of bitcointalk no mean say they be newbies for bitcoin,  some just learn about the forum new. Some are good traders wey just wan add to their knowledge about Bitcoin. So when we dey talk about hodling na for everyone here be you newbies or legend.we all need to hold some bitcoin even if you be Dailly trader. If you wan really wan get plenty profit na through holding so this thread no be for only newbies but for everyone interested in bitcoin Investment.

E no de advisable for newbies to seek for fast profit inside Bitcoin investment, make dem just de hodl am and then begin to de learn about trading if na quick profit dem need. E de better to comot mind for quick profit inside Bitcoin investment because e de volatile and price fit to pump and dump at anytime wey fit no favor di holder. Di answer to quick profit na for inside trading but e carry im own bag of risks, as you de find quick profit quick lose fit to happen. Crypto trading na for experienced traders wey don get practical experience over a long period of time, if newbies rush enter am based on the shill for social media say na fast way to make money, most likely dem go lose all dem money inside.

Omor the thing they clear, if we no get any source of income make we no think of to invest for Bitcoin and no be just source of income o, e suppose be sustainable source of income so that e no go worry us. No be say small problem come out we done run go touch our investment because no money they to use solve am. The pattern wey ah done keep na him still de make me fit invest inside Bitcoin small small.

For inside that year 2021 some wey invest no still touch their investment too. While some fear con sell. And na only those people wey sell that time na him come later regret. The people wey keep their own by now they rejoice say they no sell. My own be say no be to invest o, we get patience?

No be only newbies dey invest in bitcoin for short term, plenty experienced people na trader when dey buy bitcoin to sell and make fast profit. Although e good to advise newbies to put attention for long term hodl rather than looking for quick profit because na this one go help them more. The experience people don already learn trading and plenty other ways of earning profit from bitcoin wey the newbies them never learn so them fit dey make mistake untop am come lose their money.

Many of us wey don trade before know as we lose that time and if to say person give us the orientation of holding from that time till now, we for get better bag of bitcoin now. Even if person wan trade or buy for short time, e good make the person make another arrangement to take hodl. The two fit dey go on at the same time.

That is why they need to understand bitcoin well first before investing in bitcoin so that them no go confused themselves again. As you talk am na so many newbies dey do once people tell dem say bitcoin dey make money, na so dem go rush invest thinking that dem go get better profit within 24 hours. But dem no know say na something of volatile wey be say dey go up and down. And di best time to invest in short term na di time of bull run and not in the bear market. And now dat di price dey $55k sef e no good to invest for short term but na long term.
And anyone wey dey invest for bitcoin now na to invest foe long term and not foe short term. And according to Brainboss na because of the gambling gains and di Ponzi schemes wey dem dey get sharp sharp money dey make dem to think say bitcoin say e dey like that. And w no good to use money wey one want use to invest in bitcoin because you no go reap am within few days. Investing in bitcoin means you must be patient, and must endure the long term investment period and have a specific time to sell them.

True true, no be today this general misconception don dey, especially for most of these newbies wey just dey lap the crypto space, them go just hear or see where them talk say Bitcoin investment na e sure pass because you go just put your money inside, then wait small, Bitcoin go rise, gbagam, you cash out big time, lol.
Although na true say na like that e supposed be, but them fail to realize say for every business e get things and things wey dey involved, people wey dey enjoy for the Bitcoin matter today no be clear eye, wetin I mean be say their eyes don see many many things and as e be like that, them don Sabi how to take dey manage dey navigate the market make them no for go loose guard, so e no possible for newbie to enter today (without doing the due diligence) burst everywhere tomorrow, na only for film those ones dey happen.
Make we for dey try use our head dey reason well.

Wetin you talk na true talk walahi...
Ever since I learnt about Bitcoin matter, and the potential wey e carry, na so I tell myself say na here I suppose dey, salary work no be for me, although my holding never reach where e supposed reach due to say my income level no really high like that, but with the small small DCA I dey do every week, iffa look my portfolio i dey smile because assuming say i been dey wait make the money for plenty make i lump-sum or I been dey reason my small income flow, i for no fit do anything, but like my teacher talk when i dey secondary school, say na small small them dey catch monkey, and with DCA i dey catch the BTC small small.

For me, a prepared newbie should be aware of the market before considering investing in Bitcoin, some newbies came into bitcoin as result of what they heard from their friends not knowing that it might not be easy as it is been heard, I'm an advocate of individual decision in bitcoin investment but i still believe that an intending investor needs to preapre themself for a longterm investment, every beneficiary in Bitcoin, has been in the market for a long-term, although it is not as if a shortterm investor cant benefit, it is just that your expectations as short term might be unrealistic because the  expected events that triggers profit may not take place during your shorterm holding and you may end up being disappointed, so op your advice is in line with the concepts of Bitcoin, I think with this kind of orientation every newbie that really want to be a beneficiary would have understood the best term to hold for in other to get the positive effect of Bitcoin investment.

Let me just relate this your message to the short dip that is happens recently, just imagine that you bought Bitcoin now for some kind of short term hold thinking that since Bitcoin was already $62k that it would be maybe go up abit to $70k or $72k  then you probably sell off and get the profit and then you wake up with the price shifting down more to even $57k, I believe if you are not strong enough you would probably sell off with the fear that it won't pump or maybe the time frame in which you had for the investment might have elapse and sold at that $57k which indicates a big loss for you. That's why going with the short term investment mentality in Bitcoin is really never the best option as it is always better to HODL for long to atleast get a tangible profits to your investment in the future.

Misconception say wetin dey happen here na only gambling and ponzi scheme na wetin make people dey believe say dem fit invest money today and become dangote tomorrow. We dey believe everything wey we dey see for internet say this person make like this amount and like that and we go just think say na so e be. Sometimes self I no dey blame the newbies  again because na the lies wey dem tell them to make dem use their referral code register for some of this exchange na wetin make them dey believe say the industry na where to not take am serious and just behave like say dem dey play bet9ja.


You no fit dey wrong with this method, e sweet pass when you get work and you dey get salary. Even though you no get salary work self but if you dey receive money and you fit plan yourself well on how you go dey run the monthly investment, before you know you dun put better money for the market than to they wait make you get better block to use buy one time. DCA makes investing in Bitcoin simple and more profiting, just know that one and sha only dey invest money wey no go too much for you if you lose am.

Most people always like to dey swing trade with their bitcoin , because anything way be short-term, are mostly identify as trading because trading nah mostly deal with short-term profit. While investment nah the main main that's when one is talking about long-term holding of Bitcoin is mostly years . And for one to gain better profits from that long-term investment one need to think of ways he or can sash enough bitcoin for their portfolio.

Because if you no hold better quantity of bitcoin your profits might not reach anything. For instance imagine say person dey hold just $10 worth of bitcoin this time around wey bitcoin price big like this ( and more increase in price coming very soon). So that $10 go give like 0.000172 of bitcoin base on the recent price , so that person con manage hold am reach when bitcoin price hit $100k , the person go only endup with $17.2, so you can see that the profit nor too nice because of the low quantity of bitcoin stash so if you fit better stash of bitcoin and bitcoin hit such price range ($100k) you go endup with nice ROI.

On a serious one, bitcoin no be cryptocurrency way person gat buy for a short period holding, you go only the wound yourself and time wasted too say na small money you take the hold for bitcoin the find better profit. Na for long time hodling na there you go fit make better profit with bitcoin onto say you go still gat to use better money invest am.
Na altcoins na dey go well for short term holding and nah there the quick  profit dey even with small money but nah no go area for any newbie or person wey no get money wey him go fit afford to lose cause the risk for altcoins it too high. You fit even go jam coin wey go just dump no rise again or rug pull, nah make people the avoid altcoins but na there the RBS dey for people wey no get shishi to use buy beta amount of bitcoin except say you wan dey do DCA.

Then the title of the thread for just be "Long term investment for newbies". I think  you done try by passing out the necessary information. Though I done see similar discussion for other threads, but I think by making this thread, you dey help me and others remember watin we done learn, which I will commend you for that.

And as for this part wey u specify say :

I think e go dey quite complex, since no be every newbie go fit dey consistent on such approach, because no be everybody go get continuous stream of income to take do regular DCA. Or e get any other method wey u fit suggest to Newbies wey no get better source of income?, but dey see money once-once?.

I think a lot of people are confident in the market and buying more despite when it's obvious there is a double top as stated by some traders but because some people think we have not experience real bull run yet but it will be down on our eyes that this will be the last all time high we will see in this circle or I maybe wrong, people that actually think the bull run is yet over will benefit later if the market rebound but the risk is higher, it's better to wait for it to go down more.

I wouldn't even advice DCA yet, not because it's not a good strategy but because Bitcoin price is way to high from the supports we have, there is major support around $38, it would be a good but if we put some orders around that range and any further decline DCA will be good from that moment whether we later go up or down, it's going to be a win-win but it should never be with the emergency funds.

I agree that bitcoin is one of the best investment platform but disagreeing with you that anybody can cope with it while emphasized on the volatiled potentialities where it drives emotional investors crazy when the market gues Dip.
It's also not abominable for an investor to indguge on short term aside long term. We're Just in this same industry with the same goals but different strategies on how we can meet those goals.
I specifically agree with you that the strategy to venture at the safer side in the crypto markets can be unknown to the newbies which may have them those excitements that once you invests on bitcoin you automatically becomes rich without.
Literally fails to adhere that the bitcoin industry is most favourable on long term holding and accumulating at when is best affordable for various investors.

DCA na term wey we de use for Bitcoin investment and di meaning na Dollar Cost Averaging. Na method wey investors dem de take buy Bitcoin periodically, e fit to be weekly or monthly, as e go take de convenient for you to de comot money on a particular dates or time to de buy Bitcoin. A Bitcoin investor wey wan do DCA method suppose to get atleast one regular source of income to de get money to buy Bitcoin.

One of the advantages of DCA method be say Bitcoin na long term investment, so you no go worry or panic to sale your Bitcoin wen di price de dip. You no go worry about short term price speculations because on di long run price go always increase and reach new ATH (All Time High) and plenty ROI ( Returns On Investment) wey be plenty profit go add to your investment capital.