what is the key to your success investing in bitcoin.. - page 4.

Newlifebtc

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Quote from: Obari on January 16, 2023, 03:30:08 PM

First of all I will advice that you get a job and since you're still very new to Bitcoin, I would also advise that you don't go full time into it and just as it might seem with any other business, it is also advisable that you get an alternate source of income to help back you up on your crypto journey.
Just as you stated about buying low and selling high, that is the only secret to being successful in crypto and most times, people get it twisted with the idea of holding bitcoin and treat it like something that is never meant to be sold.
I always tell people to buy at a certain price and when there is a profit they feel contented with, then they should feel free to sell if they want to and when the price rises to it's peak and begins falling, the need to use a stop losses shouldn't be overlooked.

Actually whoever that is into Bitcoin must still have another job that will suspend him or her because if you don't have any other girl that will sustain you at least you will end up in waiting for profit in Bitcoin it is advisable and encouraging from my own understanding to buy Bitcoin and also have a job that will sustain you in time coming or in future

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Quote from: MinoRaiola on January 16, 2023, 03:31:02 PM

First of all, you should trust the system and know what you are doing. There are many scams and many have lost coins, so security is important. I think that is the basis to invest in bitcoin and altcoins. While investing you should be active to help other people understand bitcoin. If you follow old posts here from the forum, then often hodln is the easiest way and I think it's good too. Buy some coins and don't panic, more fiat… no thanks.

When you're investing/buying from specific platform it is a must to verify whether you're into the right place. These days people are well targeted and funds were easily taken control by group of users. Getting caught into such kind of traps easily make the person have a negative thought over the market. In reality the market needs to be well analysed. Simple mistakes might keep people away from lifelong usage of cryptocurrencies.

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Quote from: Viscore on January 16, 2023, 02:39:41 PM

Quote from: Maus0728 on January 11, 2023, 06:28:13 AM

Get a job, at the very least, or add another source of income. If you don't have extra cash to risk on a highly volatile asset, you can't just buy bitcoin. In addition, exercise discipline in all financial decisions, just as you would in any other area of the market for investments. And more importantly, improve your security and privacy to protect your hard earned money.

That is how you stay in the long run.

You can't just rely on bitcoin alone because its a highly volatile investment, so have your own main source of income and make bitcoin as a side hustle. That way, even if bitcoin drops its price most of the time, you will not be bothered and triggered to sell. So you can hold it for long term and make significant profits in time.

People who can't hold for long periods of time must be really in a hurry for money, so they have no alternative besides selling their Bitcoins at loss. But if they really need the money, we can't blame them for doing this, because it can be worse if they keep the holdings, but neglect a financial demand they face, especially if it's something related to their health and safety.

Patience is the key for success in Bitcoin investment, although without spare money, solely patience won't open any doors...

panganib999

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The key to success in investing with bitcoins, or investing in anything really, is not playing with money you don't own yet. Say for example, bitcoin is in a good trend, and you find yourself already thinking of ways to spend or invest the money. That is fine, but if it comes to a point that you are already depending on the existence of such cashflow despite it not even materializing yet, then that's gonna cause problems for you. You have to make do of what you have right now, or find means to increase your capabilities, but never ever play with money that is yet to come, especially with investing, because things may go south at a moment's glance and you wouldn't be able to do anything to prevent it.

MinoRaiola

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First of all, you should trust the system and know what you are doing. There are many scams and many have lost coins, so security is important. I think that is the basis to invest in bitcoin and altcoins. While investing you should be active to help other people understand bitcoin. If you follow old posts here from the forum, then often hodln is the easiest way and I think it's good too. Buy some coins and don't panic, more fiat… no thanks.

freedomgo

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Quote from: Solokan on January 11, 2023, 05:34:19 AM

everyone definitely wants to be successful in investing, especially in bitcoin. and of course it is not easy to achieve success in investing, even though it sounds easy to invest in bitcoin, for example as follows:

: buy at a low price sell at a high price.

: must hold strong, and do not sell it when the price drops.

but in reality there are so many people who sell when the price drops, even though they have to take the risk of loss.

I, who don't have much experience in bitcoin, want to ask what is the key to your successful investment in bitcoin?
and I want to ask if you have ever experienced investment losses in bitcoin?

I hope my post is useful for me and all in this forum.

You will only be successful investing in bitcoin if you have the experiences needed to make a successful investor. Because if you are still a beginner in investing, perhaps you will still experience more losses than significant gains, but that is a part of molding your experiences that will be helpful in the long run. And successful investing comes with patience and a high sense of determination. If you are just here for money and would always want quick profits, you will never be successful with bitcoin.

Obari

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First of all I will advice that you get a job and since you're still very new to Bitcoin, I would also advise that you don't go full time into it and just as it might seem with any other business, it is also advisable that you get an alternate source of income to help back you up on your crypto journey.
Just as you stated about buying low and selling high, that is the only secret to being successful in crypto and most times, people get it twisted with the idea of holding bitcoin and treat it like something that is never meant to be sold.
I always tell people to buy at a certain price and when there is a profit they feel contented with, then they should feel free to sell if they want to and when the price rises to it's peak and begins falling, the need to use a stop losses shouldn't be overlooked.

Viscore

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Quote from: Maus0728 on January 11, 2023, 06:28:13 AM

Get a job, at the very least, or add another source of income. If you don't have extra cash to risk on a highly volatile asset, you can't just buy bitcoin. In addition, exercise discipline in all financial decisions, just as you would in any other area of the market for investments. And more importantly, improve your security and privacy to protect your hard earned money.

That is how you stay in the long run.

You can't just rely on bitcoin alone because its a highly volatile investment, so have your own main source of income and make bitcoin as a side hustle. That way, even if bitcoin drops its price most of the time, you will not be bothered and triggered to sell. So you can hold it for long term and make significant profits in time.

danadc

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Quote from: Mate2237 on January 16, 2023, 06:24:18 AM

At I first I confused of the language or should I say the grammatical blunder. It was when I finished reading the OP, I understand the message passed in the content. Well
, If I may, it is not only bitcoin one can invest and becomes successful in life there are other businesses that one can invest and becomes successful. Real Estate can also fetch you a lot of money. The risk you see in other businesses or Investment can also be found in the Bitcoin Investment. So when investing in bitcoin, take caution very well.

I don't have 1 bitcoin, but I have fractions of bitcoin that I would like to gather to form 1 one day, because I know that having 1 bitcoin would give me to live a great life, at this time I could not say that it is something that will fill me up that I will assure my life, but I know that in about 10-15 years yes, because bitcoin is not going to stay at the price it is at now, the price will be very high in the future, and I know that it will be very high with respect to fiduciary money This is enough for the most intelligent to react and do not hesitate to acquire the bitconi at all costs, it is the best savings if you want to have a full life.

Mate2237

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At I first I confused of the language or should I say the grammatical blunder. It was when I finished reading the OP, I understand the message passed in the content. Well
, If I may, it is not only bitcoin one can invest and becomes successful in life there are other businesses that one can invest and becomes successful. Real Estate can also fetch you a lot of money. The risk you see in other businesses or Investment can also be found in the Bitcoin Investment. So when investing in bitcoin, take caution very well.

Ziskinberg

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What we need OP is to think what is the reason why we invest in Bitcoin. I'm sure we don't want losses but certainly a profit and success. That is why there is no reason to think negatively and acted opposite to what we wanted to happen but for sure of working hard in order to achieve no matter what will happen. Success can't be easy and it takes time, and if we are in a hurry, it is impossible we go there and reach our goal.

- patience and positivity

hyudien

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Quote from: Solokan on January 11, 2023, 05:34:19 AM

I, who don't have much experience in bitcoin, want to ask what is the key to your successful investment in bitcoin?
and I want to ask if you have ever experienced investment losses in bitcoin?

Idealism in investing in Bitcoin is of course the key to being consistent and having an affordable intake of funds. In cases that we often encounter where people are forced to sell at reduced prices due to insufficient needs. My point is Bitcoin is suitable for the long term not just looking at it from a short profit taking range and hoping to wait in a long bear market. I think stable finances determine consistency in investing. Therefore, before investing, we must ensure that all basic needs are met and get more to invest. Because if not, cases of forced sales will continue to repeat and so on until the investment program in Bitcoin always fails.

nurilham

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Quote from: Solokan on January 11, 2023, 05:34:19 AM

: buy at a low price sell at a high price.

This is not the key to success, it is the basic thing to do in both investment and trading.
If you don't buy at a lower price, you will never earn profits. Everyone knows about this basic thing.

Quote from: Solokan on January 11, 2023, 05:34:19 AM

: must hold strong, and do not sell it when the price drops.

Yep. This is a must to do, to have a chance of selling at a higher price. Sure, there will be no profits if we easily do panic selling whenever seeing a dump. But to do this, the key is to have a patience and strong belief. Everyone who has no patience and belief/trust, is likely to be affected on the huge dump and much bad news. They will panic and decide to sell directly because they think to have no future of the investment.

Quote from: Solokan on January 11, 2023, 05:34:19 AM

but in reality there are so many people who sell when the price drops, even though they have to take the risk of loss.

It is because they have no trust/belief in the future of Bitcoin. It may be caused by a lack of knowledge and experience about Bitcoin investment.

_BlackStar

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Quote from: crwth on January 15, 2023, 09:11:11 AM

I think the key to successful investing in bitcoin is knowing that bitcoin is worth more than you think it is. Imagine believing it is worth $100,000 and you selling it for $20,000 is a huge setback. You would feel dumb and sad and probably regret that you have sold it in the first place, so it’s better that you see it as more valuable than it is now so you wouldn’t have to sell it. It’s just like how some collectors profit as well.

The key to success for anything is patience and discipline. It takes time to generate a worth the profit or return on any investment and that is an absolute must, so patience and discipline are key. Indeed, not everyone will be able to do it, but at least they will get it if they are more patient even if they are not experts. The character that every investor has will be different, so it will also determine how likely it is for them to be successful in their investments.

It's true that everything will correlate, but discipline and patience is something that is needed because we never know when we can produce higher amount of x than now.

Cryptmuster

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Quote from: Mauser on January 15, 2023, 01:08:35 PM

The best recommendation I can give anybody who is new to crypto investing is not sell valuable and profitable projects for a short term gain or to avoid a short term loss. As long as you are not selling any coins you are not realising losses. If you don't need the money then there is no real pressure to sell. Crypto currencies as most other asset classes like stocks move in cycles, after a bear market we have right now there will come a bull market eventually. And if we are not invested in the market we might miss out on the next bull market. My biggest investing mistake was to sell all my bitcoins on 2016/2017 and miss out on the big rally 2 years ago. I am not going to repeat that mistake again. HODL has been one of most successful strategies for all the people wo jumped into the bitcoin market very early. Don't worry too much about short term price movements and focus on the long term trends instead.

You can divide your portfolio, leave the main part on a cold wallet for hold, this will guarantee you a profit with the onset of a bull run and save you from prematurely selling coins. And you can allocate a small part for trailing, if necessary, you can try to sell and buy in order to increase your quantity of bitcoins, but in the end, most likely what you left on hold will bring you a big profit...

qwertyup23

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One of my keys to success is always the price history index of BTC. The fact that it started from nothing and it slowly gained traction in the coming years is one solid basis for me to HODL my coins long-term. In addition, there has been a trend that every fork/halving, the price of BTC increases. I guess those are enough proof and basis for me to rely on to keep continue in HODLing my coins.

Lastly, the price of BTC at the last quarter of 2022 was around $6500. Currently, the price sits comfortably around +$7000 which guaranteed a profit to most BTC HODLers who bought BTC during that time.

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Quote from: xSkylarx on January 15, 2023, 07:01:12 AM

Buy and set aside your emotion! It would be easy to say but difficult to do as we all have these kinds of emotions, we tend to panic sell and we are greedy. Most of our decision when it comes to holding is that our emotions, we hold but later a few weeks we saw that the bitcoin keeps dropping we tend to sell it in loss but if we set aside our emotion if we hold it whether the price drops keep it for a couple of years then for sure there is a profit that is why other holder controls their emotions, others are not checking the price and other forget it so that they won't trigger their emotions

Whether or not the decision to invest in bitcoin is wise depends on the timing and investment strategy of each, until now I still believe in bitcoin, especially for serving transactions between countries which have enormous value and we can make them assets on digital, investors who buy bitcoin on In 2011, you can be sure that you are rich now, but those who bought it at the beginning of this year must be frustrated now, from a fundamental point of view, bitcoin technology has enormous potential compared to investing in other assets, if we have a strong mentality, we can definitely get success in investing bitcoin.

tjtonmoy

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Quote from: Solokan on January 11, 2023, 05:34:19 AM

but in reality there are so many people who sell when the price drops, even though they have to take the risk of loss.

I got your point. You need to see at other people who are still holding their assets and not selling them. You will find that those people has been in this industry for a long time. And they know very well when to buy and when to sell. Those who sell their assets while the price is going low, maybe they are newbie or weak hearted people, taking decision based on their emotions. It's not a bad thing for those holders because it helps the market to get rid of those weak hearted newbies. Thus creating a proper balance in the market.
And on the other hand, you may see other professional traders selling their assets in the time of down market. They are selling them because they know that when the market will go down further, they will be able to buy more with the same price which will grow when the market goes up again. This is called DCA or dollar cost average. It's a common practice among pro traders to grow their holdings.
Hope that answers your question.

Mauser

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Quote from: Solokan on January 11, 2023, 05:34:19 AM

I, who don't have much experience in bitcoin, want to ask what is the key to your successful investment in bitcoin?
and I want to ask if you have ever experienced investment losses in bitcoin?

The best recommendation I can give anybody who is new to crypto investing is not sell valuable and profitable projects for a short term gain or to avoid a short term loss. As long as you are not selling any coins you are not realising losses. If you don't need the money then there is no real pressure to sell. Crypto currencies as most other asset classes like stocks move in cycles, after a bear market we have right now there will come a bull market eventually. And if we are not invested in the market we might miss out on the next bull market. My biggest investing mistake was to sell all my bitcoins on 2016/2017 and miss out on the big rally 2 years ago. I am not going to repeat that mistake again. HODL has been one of most successful strategies for all the people wo jumped into the bitcoin market very early. Don't worry too much about short term price movements and focus on the long term trends instead.

spectre71

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Live and die by the spreadsheet. Make a plan down on paper and stick to it leaving emotion "beliefs" out of it. When I reach a predetermined profit (33%) of my base investment I take the profit and diversify while still maintaining DCA.

This recent bump I took ALL my profit down to my base securing it. It will go down and my DCA will still be ticking away.

My base investment is my hodl and not afraid to take a profit off of it. I don't lose sleep this way.

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