I have come to understand that most investors, especially newbies investors believe that once they invest in Bitcoin, their financial status will change forever, they don't know that they must hold for a very long time if they want to get something good out of it.
The key things that mostly determine how profitable and successful you might be are;
The stash of Bitcoin you have and
How long you can hold.
* The stash of Bitcoin you have: All Bitcoin investors needs to understand that your stash of Bitcoin determine how profitable you might be in the future, because you cannot invest only $20 into Bitcoin now and be expecting to be a multi millionaire in the future, it's true that it might improve your financial situation quite alright but it can't change your financial status forever unless you have a very good and a huge stash of Bitcoin in your possession.
* How long can you hold: as easy as it seems, it's very difficult to hold for a very long time because the temptations of cashing out when you are already in a huge profit can be very difficult to resist, even when you have a source of income and an emergency funds to carry on holding, because when it comes to Bitcoin, the way it is wired, the longer you hold, the higher the possibility of you making more money from your Bitcoin investment.
It's so funny but he truth. Many investors especially the newbies when they just hear the current value of Bitcoin they become optimistic to become a millionaire overnight without know what the system entails. Most investors don't know that the magnitude of the stash of Bitcoin you have in stock and the time you hold the Bitcoin is directly proportional to the profitable of the investment.The key things that mostly determine how profitable and successful you might be are;
The stash of Bitcoin you have and
How long you can hold.
* The stash of Bitcoin you have: All Bitcoin investors needs to understand that your stash of Bitcoin determine how profitable you might be in the future, because you cannot invest only $20 into Bitcoin now and be expecting to be a multi millionaire in the future, it's true that it might improve your financial situation quite alright but it can't change your financial status forever unless you have a very good and a huge stash of Bitcoin in your possession.
* How long can you hold: as easy as it seems, it's very difficult to hold for a very long time because the temptations of cashing out when you are already in a huge profit can be very difficult to resist, even when you have a source of income and an emergency funds to carry on holding, because when it comes to Bitcoin, the way it is wired, the longer you hold, the higher the possibility of you making more money from your Bitcoin investment.
To be successful in Bitcoin there must be a sgnificant investment and also the perseverance to hold the Bitcoin for a very long time regardless of any occuring financial needs of the investor within the life cycle of the investment.