The goodness of long-term investing in cryptocurrency

pantek talacuik

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Quote from: mdzahed134 on February 04, 2023, 01:31:50 PM

Quote from: Hypnosis00 on February 02, 2023, 04:35:13 PM

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

That's absolutely true, as like i hold a few altcoins for the long term approximately 3-4months but when i have seen the values dropped almost 5x-7x from buy price then i was panic and sold everything with very low price, so it’s really difficult to hold for the long term investment sometimes.

It's been guessed that you can't control your emotions to hold it in and that's what everyone is looking for to continue to endure and be patient in facing all of this. So you better learn from what you have done this.

mdzahed134

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Quote from: Hypnosis00 on February 02, 2023, 04:35:13 PM

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

That's absolutely true, as like i hold a few altcoins for the long term approximately 3-4months but when i have seen the values dropped almost 5x-7x from buy price then i was panic and sold everything with very low price, so it’s really difficult to hold for the long term investment sometimes.

Jackl87

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Quote from: Mr. Magkaisa on December 04, 2022, 02:53:47 AM

Good day to all the community here in this forum, Do you want to know why cryptocurrencies are good for long-term investment? Why is it okay to invest in the long-term and what are the strategies and criteria to choose cryptos that we can invest in?

I am also the type of guy that is investing into projects and then holding it for at least one year before i think about selling them again. The main reason for that is the fact, that i would have to pay taxes on my profits if i would have sold the tokens or coins before i had them in my wallet for at least 1 year. After i have them 1 year the profits are completely free of taxes.
Still i would have made a good amount of profit, if i would have sold a few tokens even though i did not have them for a full year yet. Even with the taxes, i would have way more money now if i had sold back in may of 2021, but of course it is always obvious now in hindsight but it was not clear that we would go down so much back then.

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Quote from: Mr. Magkaisa on December 04, 2022, 02:53:47 AM

Good day to all the community here in this forum, Do you want to know why cryptocurrencies are good for long-term investment? Why is it okay to invest in the long-term and what are the strategies and criteria to choose cryptos that we can invest in?

It is hardly possible to agree with the statement that long-term investment in cryptocurrency is very profitable. This may only be true for Bitcoin and a few top altcoins, but not for the rest of the altcoins. Probably more than 98 percent of the altcoins that I have had since 2017 now are dead and this trend, with minor deviations, continues. In addition, the frequent replacement of tokens, the transition from one platform to another, is very annoying. This means that if certain actions are not taken in time, then the cryptocurrency in our wallet will be absolutely useless.

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Ease of mind is one of the other things. I do not need to worry about the ups and downs, that's good. I have plenty of things in my life, work and real life problems are already taking up 7/24 of my life, sometimes I can't even sleep, my life is not doing so great right now and I am having psychological issues because of that anyway. So, that means if I add the stress of trading altcoins or doing anything about them, that would be even worse and I would feel terrible, I would basically be over the edge at that point.

Hence, having a long term investment where I don't even check the prices is great, I have zero clue how much my portfolio worths today, I literally have no clue what bitcoin worths today, haven't checked in days, that's the great thing about long term investment, it gives me freedom to ignore it.

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Quote from: FanEagle on February 02, 2023, 10:06:59 AM

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

I am not saying it is going to be easy or anything like that, but at the very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

It is not easy to invest for a long time (min 3 years) according to Op. For you to invest in long term purposes means you will fulfill some conditions as;
1. You should be somewhat financially stable such that you will not have to tamper your investment when it's not ripe.
2. You should be holding the right coin, else your investment can disappear into tin air.
3. You should have a good means to save your coins so that you won't be hacked in the end.
4. You need also be patient with your investment.
If you don't fulfill some of theses criteria, you may not be successful in long term investment.

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Quote from: Hypnosis00 on February 02, 2023, 04:35:13 PM

Quote from: FanEagle on February 02, 2023, 10:06:59 AM

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

This is the type of holders who regrets in the end. Holding long term is easier than said, It requires a decent decipline to hold for a long time what may ever happens to the original plan. Imagine for those who don't have plan who are trying to hold, These are the type of people who are gotten shaken up by the market when it suddenly dumps big time.

Quote from: Hypnosis00 on February 02, 2023, 04:35:13 PM

I am not saying it is going to be easy or anything like that, but at the very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

Quote from: FanEagle on February 02, 2023, 10:06:59 AM

It was pretty easy if we have multiple sources of income as it certainly doesn't have any reason to touch our crypto investment and sell them not in perfect time. But based on your cited example, I have to sell my Bitcoin as well. Waiting for more is somewhat called it greediness because having a $19k increase is already huge money and profit that we can't just ignore.

This is why we should rely purely on cryptocurrency given that it is mostly a volatile asset and we don't have an assurance that the income we get can feed us everyday or the means of living. Relying on it will most likely put you on many dilemma on selling it on a loss just to sustain yourself. Always stick to your plan if you are confident with it and believing on it. I've been there regretting my past moves by selling and not following my plan.

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Quote from: FanEagle on February 02, 2023, 10:06:59 AM

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

Long-term holding is really difficult for a person who has no plan to do it. Because it was not just all about saying "I will hold" but also, it really matters how we respond to the market changes, some got influenced by FUDs and sell their coins.

Quote

I am not saying it is going to be easy or anything like that, but at the very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

It was pretty easy if we have multiple sources of income as it certainly doesn't have any reason to touch our crypto investment and sell them not in perfect time. But based on your cited example, I have to sell my Bitcoin as well. Waiting for more is somewhat called it greediness because having a $19k increase is already huge money and profit that we can't just ignore.

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Quote from: FanEagle on February 02, 2023, 10:06:59 AM

If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

I am not saying it is going to be easy or anything like that, but at the very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

I think what you are saying there is that investors will always think about their assets? Well, why not? It happens especially if someone invest in a highly volatile asset like crypto. We can't help it but worry sometimes. Much more if you risk the money that's not within your capacity but if it's only a small amount then this can be prevented.

In the example that you have given, I don't even think that someone can reach that high ($20k) if they start with $1k only but I believe many of us have sold early before we ever saw that price. That's not wrong than completely missing the selling opportunity. It only becomes wrong if you sell early and then incur a loss.

FanEagle

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If you could invest long term with whatever you have, that is going to be pretty much something that you could always have a feeling about and I think it would be something quite difficult to handle.

I am not saying it is going to be easy or anything like that, but at the very least we are talking about something that would be impossible to get away from if you make money once. Think about it this way, lets say you bought bitcoin at 1k and somehow managed to hold it until it is 20k, would you sell at that point? You made so much already, why not wait some more? It's harder when you first start, but eventually it gets easier and easier, and I think will be done.

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Quote from: tvplus006 on January 31, 2023, 08:04:38 AM

Quote from: CryptocurrencyJunction on January 31, 2023, 01:25:13 AM

When investing in cryptocurrency for the long term, it usually implies that even if you bought at the worst possible time and held for a very long time, you still made a profit each year. By simply holding long-term investments.

If you're talking about cryptocurrency in general, then I can say for sure that it doesn't work that way. Most altcoins, even if you hold them for a long time, will not increase their value, but on the contrary may decrease even more in price. For this reason, you should invest in time-tested coins and, first of all, in bitcoin.

Not all altcoins will be suitable for long term investment because sometimes it can make loss,
apart from Bitcoin investing in top coins like Ethereum and BNB being an alternative choice,
The most important thing is to always do your research first.

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Not all cryptocurrencies are suitable for long-term investment. Cryptocurrencies are volatile and carry certain risks. Long-term investment is more suitable for Bitcoin. It will increase in value over time, and holding it for the long term can reduce risk and add higher returns.

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Quote from: CryptocurrencyJunction on January 31, 2023, 01:25:13 AM

When investing in cryptocurrency for the long term, it usually implies that even if you bought at the worst possible time and held for a very long time, you still made a profit each year. By simply holding long-term investments.

If you're talking about cryptocurrency in general, then I can say for sure that it doesn't work that way. Most altcoins, even if you hold them for a long time, will not increase their value, but on the contrary may decrease even more in price. For this reason, you should invest in time-tested coins and, first of all, in bitcoin.

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Quote from: Silberman on December 10, 2022, 06:13:03 PM

Quote from: Sayeds56 on December 09, 2022, 11:11:00 AM

Quote from: tvplus006 on December 09, 2022, 04:23:32 AM

Quote from: Vlad1977 on December 09, 2022, 04:15:54 AM

Long-term investment: An investment held for more than 5 years. Although few people say that they are short-term investors, there are actually many such people! In the context of long-term investment, entrepreneurs may invest in strategies, research, or some projects that have high personal returns, but shareholders expect relatively low monetary returns.

Long-term investments should coincide with the cycles that are caused by bear and bull markets. Thus, it is necessary to make investments at the end of the bear market and the beginning of the bull market, and after reaching high, it is necessary to sell your coins and wait for the start of a new cycle.

I think it is not easy to identify the end of bear or bull cycle with 100% accuracy but what we have learnt from our experience that Bitcoin usually falls 80-85% from its all time high before it starts recovering, Hence we should start accumulation around that level and continue buying on every dip. This is what I think is right strategy based on historical trend of Bitcoin but it is not necessary that history always repeats itself.

It is not easy but it is also irrelevant to try to identify the bottom of market, when you look at the charts it is very easy to think that if you bought at the bottom then not only you could maximize your profits, you will also be able to hold your coins and never face a day in which you will be losing money, but not only this is unrealistic it is also something impossible to do, so we need to create a strategy that allow us to profit from the markets without the need for such a precise prediction.

It's true that it may be difficult to determine the exact market bottom, and that expecting to constantly purchase at the bottom and avoid losses is unreasonable. I do believe that we can still develop a plan that will enable us to benefit from the markets without placing an undue emphasis on timing the bottom.

For instance, we may develop a plan to purchase progressively over time rather than aiming to buy precisely at the bottom. Setting up a regular program to buy lesser quantities of coins on a weekly or monthly basis might accomplish this. In this method, we may benefit from price changes and market swings while still average out our purchase price. This method may also assist us in creating a portfolio of currencies that we feel secure owning for an extended period of time.

In the end, a smart investing strategy is building a diversified portfolio, doing independent research, and having the self-control to adhere to your course of action despite brief market changes. We can all make wise judgments and be successful investors with a well-thought-out plan and the correct mindset.

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The premise of long-term investing in altcoins is investing in valuable coins. If you invest in a coin with low value now, and after a period of time, your price does not rise, then your investment is equivalent to worthless, and it is better not to invest. Portfolios can be used for investment, so the risk is relatively small. I'm used to investing in Bitcoin for the long term because I know the value of Bitcoin will go up. I have relatively few long-term investment projects in altcoins.

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Quote from: CryptocurrencyJunction on January 31, 2023, 01:25:13 AM

When investing in cryptocurrency for the long term, it usually implies that even if you bought at the worst possible time and held for a very long time, you still made a profit each year. By simply holding long-term investments.

it depends on what cryptoqurrency you invest, i believe if you hold bitcoin in long term it will not make you lose. but if you invest in the top altcoins at least you can get profit in a certain term, it is important you need to monitor too so you don't miss the opportunity to sell.

CryptocurrencyJunction

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When investing in cryptocurrency for the long term, it usually implies that even if you bought at the worst possible time and held for a very long time, you still made a profit each year. By simply holding long-term investments.

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Quote from: taufik123 on December 11, 2022, 10:40:45 PM

Quote from: Sayeds56 on December 10, 2022, 07:48:38 PM

-snip- but it is equally important to make buying only on major dips (I think 20% dip is good opportunity) because if we continue buying on every small dip, then obviously we will run out of funds quickly and miss out big buying opportunities. Hence, DCA strategy should be used wisely and with patience in bear market because we never know where the bottom is.

Buying on large dips is also recommended, but that also requires analysis to determine how deep the price will fall. If DCA is combined with good analysis, it will result in the right buy on any dips. But if a beginner doesn't really understand analysis, buying continuously for a certain time is also not wrong.

The most important thing is the main target price to be achieved, hold and stick to the main goal, and it will be more profitable.

Probably the biggest problem newbies have with DCA is that it is a strategy that requires a long term commitment before you see any profits, and patience is not something that is cultivated and promoted on the young people anymore, since everyone wants everything now and if they do not get it they get mad about it, however for the few which can execute the DCA strategy then the profits will be huge once the bull market comes, and the best part is that as you practice this strategy and the months pass then the easier it becomes, so if you can maintain this for years and we pair this with the natural growth of bitcoin over the years the results you will get will be far better than any profits you can get in other markets.

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Quote from: Mr. Magkaisa on December 12, 2022, 12:42:14 AM

- You are right mate, the real beauty of DCA is that you have extra money that you don't need, just use it to buy bitcoin, as if there is no difference in saving money little by little, the only difference is that with Bitcoin the chances are high n that the value has increased and can also decrease.

It can also be used in another cryptocurrency that you are sure has the potential to provide good income in the future such as Ethereum, Bnb, and others like it.

But keep in mind, the risk of high volatility will still occur. Doing financial management and risk management is highly recommended. For those who are still beginners, it is only recommended to buy bitcoins and for long-term investments.
For some of the altcoins, you say like ETH and BNB are the top altcoins that have the potential to improve, but it doesn't rule out that these altcoins will also crash when bitcoin crashes and will be bullish when given the opportunity to recover when the altcoin season arrives.
do everything with the right strategy and take everything into account.

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Quote from: taufik123 on December 10, 2022, 04:25:00 AM

Quote from: Mr. Magkaisa on December 04, 2022, 02:53:47 AM

-snip-
And another thing that can be done if you do long-term investment here is that if you have extra money, you can also do the DCA (Dollar Cost Averaging) style method, this is investing in crypto every week every two weeks depending on you because the purpose is only This means that your cryptocurrency investment should be consistent so that you can increase your holdings of crypto and at the same time you can avoid the volatility of the market. Many well-known investors do this.
-snip-

To do DCA requires sufficient capital strength, so financial management is needed. within the specified time, buy the crypto regularly that you want to invest. Whatever the price, I will continue to buy regularly. In general, it's like saving and investing in crypto. As long as finances are still safe, DCA will continue to be implemented until the main price target is achieved. Bitcoin is a recommended investment for the long term using the DCA strategy.

- You are right mate, the real beauty of DCA is that you have extra money that you don't need, just use it to buy bitcoin, as if there is no difference in saving money little by little, the only difference is that with Bitcoin the chances are high n that the value has increased and can also decrease.

It can also be used in another cryptocurrency that you are sure has the potential to provide good income in the future such as Ethereum, Bnb, and others like it.

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