Topic: Now buy and hold the bitcoin is profitable (Read 273 times)

It is encouraging to see that you are serious about profiting from bitcoin investment as the bull run season approaches. Simply buy from a reputable exchange in your country and store in a non-custodial wallet. When you save in a non-custodial wallet, your private key is the password to your funds, so don't lose or expose it to the public to keep your funds safe. Also, prepare yourself to withstand market volatility and avoid exiting the market too soon, just as the bull run is about to begin. I wish you the best of luck with your first bitcoin purchase and the profitable journey you’re about to embark on.

First of all, learn about Bitcoin so that you really understand it. it's not just about buying Bitcoin because the price is rising. Because, the importance of insight and knowledge can make us much better prepared to invest in Bitcoin. When you want to buy it, make sure you choose a platform that is reputable and continuously maintained. because we will probably have or encounter so many platforms on the site. And not all platforms are trusted. So, find an exchange that is reputable and large enough for you to buy Bitcoin on that exchange and hold it in your own wallet, this will be much better. Make sure you are ready for the various risks and don't panic when the market changes direction quickly. So, in this case, holding is a very good way to invest in Bitcoin for long term.

Basically, Bitcoin prices will continue to change. Drastic increases and decreases in prices and standards can occur at any time. Especially if there is news or issues that encourage it more, both positive and negative issues. Both will have the same effect on the price of Bitcoin. However, regarding purchasing Bitcoin, when the price is still low and still falling, we will be happier because we can get the price below. However, why be so afraid to buy it? The reason is none other than our concern that the price of Bitcoin will continue to fall and will no longer be able to rise.

Although in fact, it's just a matter of time. We cannot predict the market. but that doesn't mean we don't believe in Bitcoin. Many people here have proven how worth it Bitcoin is. So, there won't be any problems at whatever rate we buy it. What is clear is that we must be able to manage our finances in investing and the risks involved. This includes managing our emotions which may often be unstable.

Buying and holding bitcoin has always been profitable regardless of the season you put your price in. The thing about these newbies is that they fail to consider the fact that as long as you don't cash your bitcoins out during times of trouble (especially if you're caught up in the crossfire of crashes and price declines), you're literally set in a position where you can hold your cryptocurrencies for dear life and keep them in your wallet until such a time exists where things would get better for you and you can sell these coins for net profit.

It's all a matter of timing and being more smart with your investment money. Gone are the "buy high sell low" days of the cryptocurrency industry, from this point onwards, newbies should know that they can also hold coins during bear market, not only during bull seasons or whatever they thought.

If you want to buy Bitcoin now, it's not a bad idea because, considering the previous ATH of Bitcoin and the recent speculation about Bitcoin in the next bull market, I believe that Bitcoin might actually get to $80k and above that, which means that even if you buy Bitcoin now at the current price, you will still make a profit in the bull season. According to speculations, the price of Bitcoin might fall below $33k before it can finally go into the bull market, but there's no one that can actually predict the accurate price of Bitcoin, so if you want to invest now, you can use the DCA strategy and start accumulating gradually.

You have been here since 2017 and I think you are not a beginner anymore to ask questions like this because your experience is actually quite a lot should be and referring to the title you gave actually not only now even from the beginning of buying and holding bitcoin is one of the profitable actions.
As for some strategies, in this case surely everyone will have their own views on this but I think everyone's emphasis will definitely remain the same, namely investing by buying and holding the bitcoin you have until your goal of releasing the bitcoin is there.
In addition, some schemes can also be done such as doing it with DCA or maybe another thing by buying dip when there is good momentum.

I really wonder, why do most people think that when the price of Bitcoin starts to rise and increases drastically is the best time to buy? Isn't it actually much more worth it to start buying when the price is low, right? Maybe this is what many embers mean here, if many people still buy Bitcoin because of the hype when it rises, not because they understand what Bitcoin investment is like. Yes, even though buying Bitcoin now is still very worth it. But the words that Bitcoin has started to rise and this is the right time to buy, that's a bit strange. So it seems that when prices were still dropping drastically, it wasn't the right time to buy Bitcoin. Is it possible that many people are still afraid of volatility and also the drop in Bitcoin prices?

Buying bitcoin on the exchanges is the most popular means of buying bitcoin and I can also say that it is one of the safest way to acquire bitcoin. A smart person cannot be scammed through exchange p2p. It is also the easiest way to for newbies to buy bitcoin but it is advised that exchanges should function as wallets to newbies.

Very simple advice but the reverse is what the newbies do. When there is red they will think bitcoin will end today but when it's green they will be fine to buy.

You've been told that the places to buy bitcoin, are from exchanges and p2p, so you decide on the option you want. Although you need a trusted person to transact p2p with, but in exchanges you don't need any familiarity, just to follow the terms and conditions of your preferred exchange and guard your self against scam merchants in exchanges p2p.

Buying bitcoin, anything before halving is OK by me, because scarcity then will trigger price increase. Although it's better to buy in bearish seasons, because price would dipp and it'd be cheaper.

Price is increasing now, but it's still not too late to start buying and hold, since we've not reached proper ATH and bull run. All the best as you make your important bitcoin investment decision.

You already concluded that now is the right time to invest in bitcoin, so which solution do you need? Which ideas do you need about bitcoin? I think it will be better if you are specific about what you want to learn, you haven't said anything you want to learn about. From your post, I can say you are new to bitcoin. Make sure you take your time to learn the basics of bitcoin, learn about wallet security, learn how to properly secure your private key, and keep in mind that you are holding bitcoin in your wallet for a long period of time.

If you want to purchase your bitcoin, you can easily buy it from an exchange, but don't make the mistake of storing your bitcoin in exchange. A lot of people have lost their bitcoin because they decided to leave it on exchange after buying it, and the exchange got compromised, and they lost their bitcoin. Make sure you transfer your bitcoin to a non-custodial wallet after buying your bitcoin from exchange, and make sure you properly store your private key. The only time I do recommend you leave your bitcoin on exchange is when you are trading, and if you know you won't be trading for some time, then withdraw your bitcoin from exchange.

There’s no perfect time to buy but if this assumption is due to current market price action then better be mindful of it ‘coz there’s no assurance bullrun has already started. This could still be a bulltrap and the market could still undergo price correction on one of these days. Why? Simply because there’s no strong reason for a continuous pump yet. But as I’ve said, there’s no perfect timing; if you have bought at this point and perhaps a correction occur, then be sure to just hold and avoid selling ‘til the market again recover. Bullrun is expected to happen next year after Bitcoin halving. So if you could hold that long and firm, then it would be fine buying at the present time and just ignore sudden price dumps.

It may seem like the Bitcoin market is slowly going down. Bitcoin ETF issue was not accepted nor rejected but delayed. We wouldn't be surprised if the Bitcoin ETF is slated to be approved by January. Now if the ETF is approved it is not the case that the price of Bitcoin will go up in the next day. At such a time we are in a dilemma whether the price of bitcoin will increase or decrease should I enter bitcoin or not. The main thing is to do your research and learn about the market, the market will always go up from here, the market will always go down from here. I will take an entry in Bitcoin from there when the market goes to the bottom, you can't. No one can say where the Bitcoin market will come back from. I think keeping these things in mind will make you a good investor in Bitcoin.

If the price of Bitcoin is increasing, you have to wait until the price gets a correction. After that, you can buy it again. But if you use the DCA method, you only need to pay attention to the time you have set to buy Bitcoin.

You can use the DCA method as people do. They use weekly or monthly time to buy Bitcoin regularly. That's all you need to do to be able to accumulate Bitcoin. By following the DCA method, you can buy Bitcoin regularly without paying attention to what the Bitcoin price is at that time.

You can also use the method of buying Bitcoin when the price reaches a low price during a correction. But you may have difficulty finding how low it is because the price of Bitcoin can move anywhere. So you should first determine when you want to start investing in Bitcoin. But if it's about the right time, you're late because if you've seen the Bitcoin price of $ 15k- $ 17k, that's the lowest price. Many people have bought Bitcoin at that price, especially people who have a lot of money.

Are you trying to buy for investment purposes or are you trying to buy to make a quick profit based on the price increase and drop that have been occurring recently and you would like to take advantage of the price? If that's the case, I will say you should be careful, for the price can't be predicted and you might end up running into losses instead of taking home profit.
 
If you have considered your choice very well and still want to take the risk, then the best way to buy bitcoin now and make a profit is to day trade it (which is not all that safe). You can fund your trading account and start monitoring the market. If you enter with good money and have the best entry, you can make the least amount possible.
 
If you want to buy for accumulation purposes, I will advise you to use DCA, as it will save you the stress of thinking about what the price will be in the coming days, but as you continuously keep on buying, you will accumulate enough to give you profit in the bull run. But you should also consider the place where you buy, as the fee right now is relatively high and you might not want to be withdrawing bitcoin from centralised exchanges. Dex will be your best place to buy from, both for privacy and fee reasons.

Why do you need the idea to buy Bitcoin when in the first place you said that now is the right time to buy it? just like your statement, this is a great time to buy and you don't actually need some solution for that. If you are sure of your statement, just do it, no need to delay, but if you are still in doubt, it's best not to buy. It's simple, all the decisions are yours.

Obviously, Bitcoin is gaining roots unlike the previous years. Many countries in Africa are now beginning to embrace this technology especially Nigeria and Kenya. I believe that within the next decade, the mass adoption we've anticipated for years will be revolutionized in Africa and the rest of the world.

Seems like you are just starting to invest in Bitcoin but you are also already a member of this forum which is good, cause there's already a lot of existing thread here that is actually helpful for the newbies. But before you invest, it would be better to invest in yourself first cause looks like you don't know when to start as you lack knowledge. You mentioned that Bitcoin has risen its value and it would be a good time to invest, which is still good cause Bitcoin would be better and much more profitable in long-term investment, still the best time to accumulate Bitcoin when it is in a bear market, cause you would profit from lowest when Bitcoin increase it will be a huge profit. There's no such late comers in Bitcoin and you don't need to put huge amount, you can use methods like DCA.

Besides that most exchange has huge bitcoin withdrawal fees transferring to wallet so storing bitcoin to exchange is a no-no not unless your active daily trader.

P2p dex exchange such as bisq is most recommended for those who are privacy(private) users. But mostly does want to use the centralize one which i suggest binance, there are lots of options to buy there if your country is not restricted, and KYC is required so having ID such as natl id, driver's license is a must.

Correct time to buy Bitcoin?

Seriously it's hard to say what is correct time to buy Bitcoin. Because if it relates to your financial status at the time and it also relates to when and what price you will exit.

A good investment is only when you buy and exit with a profit. Anytime you can buy then exit with a profit is good time.

You can buy Bitcoin at $20,000 but it is not a good time if you exit it at $16,000.

Fortunately if you can hold long time enough, you will have many good time to buy bitcoin because most of days are profitable ones.
https://www.lookintobitcoin.com/charts/bitcoin-profitable-days/

So you're looking to get into Bitcoin? Awesome! Here's my two cents on it: Keep tabs on the market and price fluctuations, figure out how much you can reasonably invest to start, and find a solid platform to actually buy from.  I know it can seem daunting at first but Bitcoin is an exciting opportunity if you go about it carefully. Good luck with your crypto adventure!

buy bitcoin on the exchange if you are unsure about p2p transactions then import it to a non-custodial wallet and keep the private key safe
storing assets on the exchange is not very safe because hacking can happen at any time as has happened before
and remember never to trust 100% someone you know to help you make a purchase

Oh yaa, don't buy bitcoin when the market is green, wait until the market is red first so you can feel the profits if the market turns green again