What is your plan with Bitcoin? - page 10.

mk4

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Quote from: Yatsan on September 08, 2022, 10:31:37 AM

Unfortunately, knowledge won't be enough in trading; it would be an advantage but it won't guarantee profit always. Even skilled traders suffer from losses, simply becaude the market is unstable in nature. TA's won't be a help whenever the market is going "crazy". Strategies would also help but for sure, luck will play a huge role in order to be successful in traing or even with other investments.

Really though, as with cryptocurrencies, the trick is to not TA but instead trade narratives and be early on them. e.g. Being early on "GameFi" in 2020-2021 and such. People who bought AXS very early on made a huge killing.

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

Hi all,

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

while predicting the bitcoin price or predicting the market will go up or down is impossible, i think we will have plenty of time to accumulate as many bitcoins as we can
as predicted by the majority, the next bull run will happen after the halving, which means it will happen in late 2024 early 2025, so we have plenty of time to fill our pockets with bitcoin
still the old saying, it's just a prediction and not a certainty so take advantage now as bitcoin is also falling sharply in price, continue dca as your original plan

Yatsan

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Quote from: BTC2daIzzo on September 08, 2022, 02:47:53 AM

Quote from: ?? on ??

In the future, countries where you can travel with Bitcoin without a visa will grow, that's my dream Cheesy

Man that would be the dream! If this happens by the time BC gets to $500k, ill buy a few properties and sit on the beach all day.

Hope it would be as easy at it sounds. But if this thing would happen, be sure that you have an amount parallel with your desire.

Quote from: xzy887 on September 08, 2022, 03:48:09 AM

Quote from: electronicash on September 08, 2022, 12:59:42 AM

but i would rather be trading though than keeping it on a cold wallet.

Trading is not easy, you may have a good knowledge of the market but those who do not understand this crypto currency will loss a lot when trading for the first time.

Unfortunately, knowledge won't be enough in trading; it would be an advantage but it won't guarantee profit always. Even skilled traders suffer from losses, simply becaude the market is unstable in nature. TA's won't be a help whenever the market is going "crazy". Strategies would also help but for sure, luck will play a huge role in order to be successful in traing or even with other investments.

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

You have bigger expectation by holding bitcoin until reach higher price £500k - £1m and your investing in bitcoin at February when price under $17,900. But as beginner will have bigger expectation with bitcoin will reach higher price, but I have been 5 years in cryptocurrency give opinion taking profit when bitcoin reach higher price, maybe if you invested price still under $17,900 you have opportunity taking profit last several week when bitcoin almost reach above $24,000. But keep holding exactly bitcoin drop right now to $19,000 and you have missed bigger opportunity for getting much profit. Lately you can buy back again after take profit when bitcoin almost above $24,000 because bitcoin price drop under $18,000 last several week ago.

AB de Royse777

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Quote from: ?? on ??

In the future, countries where you can travel with Bitcoin without a visa will grow, that's my dream Cheesy

It's going to require few centuries. Not something that is going to happen in the next few decades.

PS: Don't spam. Looking at your history I see you are making too many posts and most of them could be seen as spamming. If you are really looking to graduate in bitcoin then at least do not get banned from this forum. You will learn a lot if you can stick to this community.

livingfree

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

The same plan as you do. Not gonna hurt if I'll wait for that time to come since we're already here and we understand that the volatility of bitcoin is also where the opportunity is coming from. It will certainly take time and it won't be that easy because we might be tempted to sell already once we see bitcoin already reached 6 digits like $100,000, be it in euro or dollar.

Big or small amount in accumulation and continuous DCA, it doesn't matter. What matter is that you're consistent in doing it and there's always a gain on how many sats you're holding in your stack.

xzy887

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Quote from: electronicash on September 08, 2022, 12:59:42 AM

but i would rather be trading though than keeping it on a cold wallet.

Trading is not easy, you may have a good knowledge of the market but those who do not understand this crypto currency will loss a lot when trading for the first time. But if he wants to develop himself as an expert trader then he needs to acquire a good knowledge about cryptocurrencies, not only about trading.So I say don't go trading without good knowledge about crypto currency otherwise you will loss and get disappointed. Later you will have no desire to trade.

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Quote from: ?? on ??

In the future, countries where you can travel with Bitcoin without a visa will grow, that's my dream Cheesy

Man that would be the dream! If this happens by the time BC gets to $500k, ill buy a few properties and sit on the beach all day.

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it

You have made a brilliant decision to invest in bitcoin, Bitcoin will definitely reach £500k - £1m one day but you should be ready to hold for long time, am sure nobody can predict when the price will get their but if you have patience then HODL and you will be proud of yourself one day.

Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

Depending on your choice or your source of income, you can even decide to be investing daily if you are being paid daily, so everybody investment pattern is different. Like me I always invest in bitcoin whenever am having extral cash which I won't be using for that moment, I just buy bitcoin and ignore it in my wallet.
Am ready to HODL my bitcoin for as long as possible, the bitcoin am holding currently, am planning to give my unborn children and am not even married yet so I don't have plans to sell my bitcoin soon.

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Quote from: ethereumhunter on September 08, 2022, 01:52:39 AM

~snip~I also buy using DCA like you because I want to sell bitcoin at the new ATH price later. And I also know that it won't happen any time soon so I can hold it in for a while. Maybe I'll hold it for 1 or 2 years later but it depends on when the price will hit the new ATH.

if the target you set is clear, then you only need to prepare money to continue buying at the lowest bitcoin price. You should of course use money that you don't use in the future. I expect ATH to be reached in the near future maybe not more than 1 year, but it also depends on the state of the market and the state of the world economy. and there will be a lot of manipulation done by whales.

BTC2daIzzo

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I get a portion of my salary in BTC, I try not touch it if possible. Sometimes I'll exchange for ETH or another top altcoin, but mostly just HODL. I'm essentially DCA automatically with my salary.

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

Hi all,

I started investing in crypto February this year but due to the high price of Bitcoin did not start investing in it until mid June just after the crash.

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

You have a good plan to hold bitcoins for a certain period. That is the purpose of investing because we want to take profits within a certain period and not sell our assets if we are not in a situation that really needs money.

I also buy using DCA like you because I want to sell bitcoin at the new ATH price later. And I also know that it won't happen any time soon so I can hold it in for a while. Maybe I'll hold it for 1 or 2 years later but it depends on when the price will hit the new ATH.

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I bought my first bitcoins when the price was just over $300.... but I was tempted to sell some of it when the price went over $1000. This is a very common mistake that early investors are making, because they have not experienced a 800%+ increase in the price of Bitcoin...so a 200% profit in their investment...seems to be too tempting.

I have learnt from my mistakes.... so I buy low.... use some coins (20%) and I hoard (80%) for many years... until Bitcoin reach it's next all-time-high price. I then sell some coins to make a profit and I keep some for the next all-time-high. (also buying more when the price drop) Wink

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

I try to be pretty stable with it but I mostly do it every 2 weeks at least or 1 month at max depending on the current state of my funds. I plan to hold for a long time, especially with the current state we have right now, I see no plans to actually sell and I suck at trading so big no for that one. Been DCA'ing since when Bitcoin started dipping from the last ATH, afaik I'm down by quite a bit but I don't really mind. I don't (and want) to look at it since might get weak hands if I do.

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price will stay low for a long time because it won't shoot to the moon before halving. two years more so you are lucky that you can afford to DCA weekly. many users in the forum earns BTC thru campaigns. that's just what i would do as well. but i would rather be trading though than keeping it on a cold wallet.

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

Hi all,

I started investing in crypto February this year but due to the high price of Bitcoin did not start investing in it until mid June just after the crash.

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

You'd have to wait for a long time to get that price range imo. I would wait for a more realistic price if I were you, like $100k or even below. $50-$100k is a nice target I think. If you are very young then sure, wait for $500k but don't get mad if it takes multiple decades.

You were wise to start DCA'ing now when the prices are low. A lot wiser than who started DCA'ing when the price was $60k+.

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

In investment terms, we have to put something in the coin that is worth holding on to, so that at any given moment we can see a suitable return, you are doing something right in bitcoin, it just takes time, because right now may not be the right time to let go.

Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

Many people do different strategies in carrying out investments, but almost generally people make purchases when prices are low, sometimes people make long-term investments to increase their profit portfolio, but it's also not wrong to use short-term to make small profits, the most important thing is how prepared we are in carrying out investments, both using long-term and short-term

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Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

I also do DCA but in the next cycle or when the market overheats and we see that we break the highs, it is not bad to trim a little of what you have invested and take advantage to spend some bitcoin, because waiting for half a million or a million can take a long time. Having 2% of a bitcoin is not much for now but as you accumulate more and it becomes a large percentage of your net worth it is worth thinking about what I am telling you.

The fact that bitcoin is in circulation also gives it value. As popular as HODL is, if no one transacted with bitcoin, it would be worthless.

mk4

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Pretty simple — continue staking slowly but surely, and spend it as much as possible when needed (unless it's the case that I hold too much fiat).

Quote from: JamesDaniel90 on September 07, 2022, 07:28:07 PM

How often do you buy and how long do you plan to hold?

ChiBitCTy

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That’s a good way of providing yourself good/low entry points, after all no one really knows where the price is heading at any given time. Dollar cost averaging is a popular investing strategy and has been for a very long time and for a reason. By the way I personally would not share with other how much you have with anything whether that’s how much bitcoin, or investments in this stock or that, I’d keep it private. Just my 2 on that.

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