Topic: what is the key to your success investing in bitcoin.. - page 6. (Read 1318 times)

This is a question that can be asked to prove many things, the first thing for bitcoin believers like us who are and believe in everything about Bitcoin and that Bitcoin will be the currency of the future, it does not cost us anything to make a good investment, but For those who do not believe much in bitcoin, it is something that will not give them their head to do things right, they prefer to invest in the stock market, in other markets that in a global fall everything will go to the ground, but they do not care fleeing before they believe in Bitcoin, these failures are always evident, it is like what claims to be dead first than bathed in blood.

Knowing when to buy and when to sell is the key to being successful in this space. Buying btc at ath and expecting the market to maintain its price is impossible, you will end up holding for another 2 to 3 years before you are able to sell with a good profit. so it is very necessary to understand the market trend and know when to get in and exit. This I have learned over time.

If you buy bitcoin for $68k, that can still be fixed. But in the time you wait to correct your mistake, many others have even made huge profits. Bitcoin is good but not buying at any price is good. After all: bitcoin is just a commodity to make a profit, and to do that, you need a strategy, a good plan, and an excellent time to start. If you buy bitcoin for $68k and it takes you another 4 years to payback, then it is a failed investment.

That is true and yet so many people do not understand the situation. If you bought bitcoin at 68k, even that could be fixed and you could get into profit for sure. I am not saying that it is a bad or good thing but it is definitely a situation you shouldn't worry about all the time.

If you bought at 68k instead of 16k, I can see what that could be considered bad, that's true, but if you sell now? That would be one of the biggest mistakes you would ever make. Hence, even if it was a bad thing in the past, it's time to find a solution and the solution is that bitcoin is something we should be recovering if we could, and that's a lot more important.

Maybe in my opinion and now what we are doing is holding it as best we can, continuing to buy during a bear market, and selling when it is already possible to predict a good result, but the main key is waiting for the bull to fully run and selling it at that time , with this method I think every Bitcoin investor will get satisfactory results, regardless of the method, I suggest that you find a job and you use half of your salary to invest in Bitcoin.

But what is not recommended is to sell it in a hurry and not see market conditions that are not good, maybe this happens to our colleagues who are beginners, but the work of holding Bitcoin is a little difficult to do, depending on how the management of the existing establishment is against oneself, maybe a strategy what is very effective to do is to keep holding it and waiting for the right time to get maximum results, this is one of the main keys in investing towards glory and success.


And this is what is meant by very powerful techniques and strategies to use in investing, all of us and also big/small investors certainly use this method, and for our colleagues who are beginners, it is highly recommended to take these actions/steps.and the most important step is to keep holding these assets from a Bear market condition so that the bull market replaces the Bear Market position

So far, excluding the current bear market (which may or may not be coming to its end now), there were no losses of investment into Bitcoin for anyone who waited long enough. No matter at which price a person bought, Bitcoin has always recovered at some point. With altcoins, you can lose and never see your coins rise up high enough. With Bitcoin, it has never happened before, even though it's true that there's no protection against for the future. So it's not a loss if you don't sell. And considering that people shouldn't invest what they can't afford to lose, not selling shouldn't be an issue.

The first time I ever heard about investing and money management was in a book from a famous stock trader in the 80s and 90s. His main rule of investing was to buy as many different stocks as possible and forget about them. Trading too often only results in high transaction costs and doesn't really lead to a high outperformance of the market over a longer period of time. This is basically what the whole HODL strategy is about, buy crypto currencies and hold them for a long period of time. With the HODL strategy we can save a lot of time trading and also don't need to worry so much short term price changes. Unfortunately I didn't follow the strategy myself when I first started out with Bitcoins, if I had kept all my coins since 2016 I would be a happy man today. Everybody is going to experience losses when they start investing, it's part of the game and still the best strategy in my opinion is to hold our coins as long as possible.

Well if you want to know how to be very successful in bitcoin investment you need a little job doing and add it up with your investment also, after you have these things set you need to be very smart and creative too.
When I first went into investing it in Drive Go trading app,it went well at first but i didn't understand stand how it was been done so I lost everything in it. This was a result of me not been so smart and cleaver too,in life you need wisdom to follow up things and you also need God too. But now that I have learn how is been done  am really ready to start it back as sooner. You need to understand what you are doing,what you are getting yourself into also,so you will be able to know how to follow it up too.

for beginners, it is natural to happen. but when they started to understand how Bitcoin moves in the market. then they will know how to store their Bitcoins. and certainly will not be affected to sell when prices decrease.

buying at a low price and selling at a higher price sounds easy. but actually, it's quite difficult to do. long-term planning related to price must be made from the beginning of the investment. and try to stay focused on your planning. practice being patient and not panicking. it is the key to success that many Bitcoin investors apply.

Yeah, it is not easy but it is going to be easy if you follow the golden rule - Invest what you can afford to lose. If you invest money that you don't need, there is no need for you to sell your coins anytime soon. If the price drops, you still keep on holding. If you follow the rule, you also don't have to worry about when to invest. It won't matter to you if the price if high or low. You can invest any moment you want. Those who sell when the price drops are the one that are risking money that they actually need.

The first thing is understanding the asset you invested in, without that it is nearly impossible to make a good profit from such an investment because your decision is solely based on what you read from others and know what you know.
Many investors who panic sell their btc (especially) when the price is down don't have the right knowledge to be able to make good decisions regarding their investment.
it is the same with understanding the market trend and knowing when to buy and when to sell. Some people take information or the right knowledge for granted but it is a necessary tool to enable them navigate the market circle and also gain from it.

You just need to know that bitcoin is a long term investment and it will always increase over time. So, as long as you buy and hold for a long time, it will make a profit for you, do not sell when the price is low and only sell when it is really profitable. It can be said that the only condition for success is patience, bitcoin investing is a game of patience.

This is my opinion but the most important thing is that you understand and really believe on the assets in which you are investing, I say this because as an investor it is impossible you will always be on profits and you will have to endure adverse market conditions for months and years, and under those circumstances your trading skills or your ability to read the markets are useless.

The one thing that will stop you from selling your bitcoin is the knowledge that bitcoin is a good investment and that you took the right decision by putting your money in it, if you do not have this conviction then holding your bitcoin will be almost impossible, so read more about bitcoin and see for yourself how useful it is, and if you are still not convinced by the evidence in front of you then it could be better for you to invest in some other asset.

My key in the bitcoin success is to keep my private keys safe and sound. 
It is way better to understand that hodl is the only way for our success in the bitcoin. If we are going to transact the bitcoin then it has to be from bitcoin to bitcoin so that we can flourish the bitcoin economy to the fullest. If we are going to sell the bitcoin for USD all the time, in the want of those tiny profits then it's not worth it. There is no way we could get the success if bitcoin is not in the circulation. This is based on the public power, bitcoin is all about unity. Tomorrowland wont guarantee it's success if at the end only two people are left our to trade in between them. 

I think there will be no secret to success in this market, other than trying to buy low and find a way to hold and stay in this market for as long as possible, we will succeed. To do that, you should not be too dependent on bitcoin, which means you must have a stable job and many different sources of income, just use your idle money to invest in bitcoin. Then your mind will be extremely at ease no matter how volatile bitcoin is. Just like that, I think success will come to us. There is no need to find any superior method.

I am not sure if I am a successful investor since my plans are mostly long term. So I can not actually share some super effective technique to bring all the money into the bag through Bitcoin trading.

I mostly just do Dollar Cost Average and hold Satoshis for a long time. I have tried to time the market in the past but I learnt I am actually not very good at it. So for people like me is better just to play "safe".

It could be also productive to accumulate a part of ones income in FIAT and try to buy the dip (assuming you can foresee it accurately enough).

Buy low sell high is easier said than done. In reality, you can even hardly determine how low is low and how high is high. Is an ATH high? There could be a new one in the next day or two. Is $20,000 low? It could fall to $16,000 in a matter of hours.

The better alternative is HODL. But you already mentioned the problem. Many are saying HODL as if it is easy. It might not be, but you only have to take a couple of steps back and see that in the bigger picture the line is diagonal in an upward direction. You still have doubts? Well, you go back to basics. What makes Bitcoin successful? And also, it only takes a little math to understand that there is certainly very limited Bitcoin for everyone.

actually the key to successful investing in bitcoin in my opinion, the point is that you have to be strong, and don't let investing in bitcoin be used as a livelihood to make a living, so basically investing in bitcoin must be made as a side job, not as a main business.
and don't invest from borrowed money. because if the investment from the loan results will make it psychologically disturbed, and uncomfortable.

The key to success in bitcoin, in my opinion, is to hold onto your investments for a very long time. If you have a job or are looking to get one, at least you won't have to worry about your investments in bitcoin, as you see many people who have them eventually sell their holdings when they run out of money because they have no other source of income. Holding is the key.

Do not just simply rely investing in bitcoin alone since it’s never a guaranteed source of income. Always get a stable job, and just consider investing in bitcoin as a side hustle. Also, never invest more than you can afford to lose, or never go all in, as it can always lead to losses if you are not responsible taking the risk. And don’t be greedy, but learn to be patient and wait for the perfect timing to reap what you sow in bitcoin investment.