Why Not Just Buy BTC? - page 3. | Bitcointalksearch.org

adzino

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Stop reading those articles where they make price prediction and tries to convince you that the price will skyrocket. See how many past predictions came true. Crazy predictions were made the year before, but we ended up having the opposite. Just do your own research and you decide how much you want to invest and how long you are willing to hold.

The holding strategy isn't bad as long as you are willing to hold your bitcoin until you make profit. Don't use a centralized wallet like Coinbase to hold your coins. Use your own wallet where only you have access to the keys!

Bitcoin_people

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Most investors in crypto believe in bitcoin investing in bitcoin is a wise move. And these strategies have been followed by people for years and have been investing in Bitcoin. People adopt the strategy of investing in Bitcoin and holding it when its price drops and selling when its price skyrockets. And the more savvy investors buy Bitcoin and hold it for the long term. They know Bitcoin will reach a point at some point where people will be very interested in buying Bitcoins but the majority will have very few Bitcoins. Because Bitcoin is a limited number of currency, when people hold large amounts invested in it, the impact of Bitcoin will be seen. So investing in Bitcoin is always trying to hold on to it and leave a huge asset as Bitcoin for the future.

rozak

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Quote from: nur rochid on July 07, 2023, 09:06:31 PM

but also usually with an increase in bitcoin it will be followed by an increase in altcoins, therefore we must be good at managing finances to get bigger profits. However, you have to be careful when choosing an altcoin to invest in, of course there are some decent altcoins to invest in, even though investing in bitcoin alone is a good choice. and of course shitcoin will move wildly, but we have to be more observant in analyzing and observant in managing finances, because it has a very big risk

it's up to you to play with your altcoin or shitcoin. the clear best choice is Bitcoin. and buy and store in your wallet. never leave it on the exchange. beginners have different thoughts when they buy Bitcoin or any coin then they leave it on the exchange and feel it is quite safe. not only is it a matter of privacy because of KYC, but assets are not really in your control when you leave your assets in the hands of an exchange.

nur rochid

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Quote from: Gallar on July 07, 2023, 07:18:54 AM

Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

The strategy you are thinking of is not bad, in fact, in my opinion, it is a very good and simple plan to implement. Because basically, we as investors in bitcoin or investors in crypto, buy when the price is cheap/down and sell it at an expensive/increasing price. Basically it is like that. So if you buy bitcoin or USD and save it, it will be very potential and very good for your future. Especially to be more precise about storing bitcoin assets. because the potential for bitcoin in the future will be very large.

And it is true that according to the cycle that always occurs in bitcoin, next year there will indeed be a bitcoin halving, which usually occurs once every four years. With this halving, the price of bitcoin usually always experiences a fairly high increase. So buying bitcoins now and saving them for the upcoming halving is definitely a very good idea or strategy to implement.

but also usually with an increase in bitcoin it will be followed by an increase in altcoins, therefore we must be good at managing finances to get bigger profits. However, you have to be careful when choosing an altcoin to invest in, of course there are some decent altcoins to invest in, even though investing in bitcoin alone is a good choice. and of course shitcoin will move wildly, but we have to be more observant in analyzing and observant in managing finances, because it has a very big risk

Gallar

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

The strategy you are thinking of is not bad, in fact, in my opinion, it is a very good and simple plan to implement. Because basically, we as investors in bitcoin or investors in crypto, buy when the price is cheap/down and sell it at an expensive/increasing price. Basically it is like that. So if you buy bitcoin or USD and save it, it will be very potential and very good for your future. Especially to be more precise about storing bitcoin assets. because the potential for bitcoin in the future will be very large.

And it is true that according to the cycle that always occurs in bitcoin, next year there will indeed be a bitcoin halving, which usually occurs once every four years. With this halving, the price of bitcoin usually always experiences a fairly high increase. So buying bitcoins now and saving them for the upcoming halving is definitely a very good idea or strategy to implement.

AicecreaME

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It's gonna skyrocket for sure but not always.

Buying Bitcoin and hodl it for long term is not bad after all, rather than pushing yourself to do futures trading even though you know you're bad at it. Just make sure to still monitor your Bitcoin from time to time because it might hit a price where you wanted to sell a certain amount or to make sure all of your Bitcoin is still there in your wallet.

Also, secure your private key, don't leave it unattended.

Fivestar4everMVP

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Quote from: |MINER| on July 07, 2023, 05:56:15 AM

Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Good decision you take . Bitcoin is the best way to make some good profit with a safe and secure investment. But this the best decentralized eco system in Crypto industries. But one think always remind that the investment will safe and secure till it's on decentralized system but it will not be guaranteed when you use a centralized exchanger for holding it specially for long term. So your investment choice and strategy all are good but kindly change the platform from centralized to decentralized system for holding it

With what I've experienced, that is the kind of losses I've experienced from holding coins, not just bitcoin alone, on centralized exchanges, if it was possible to buy bitcoin from a decentralized exchange, I would have also recommended that as well,..

But then operating a decentralized exchange is kind difficult for most crypto newbies, it is very easy for most to get around the complexity of centralized exchange, than decentralized exchanges, so best is as you have advised, buy the coins from a centralized exchange and immediately withdraw them to your non-custodial or self custodian wallet, hardwallet is always the best choice by the way.

|MINER|

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Good decision you take . Bitcoin is the best way to make some good profit with a safe and secure investment. But this the best decentralized eco system in Crypto industries. But one think always remind that the investment will safe and secure till it's on decentralized system but it will not be guaranteed when you use a centralized exchanger for holding it specially for long term. So your investment choice and strategy all are good but kindly change the platform from centralized to decentralized system for holding it

$crypto$

legendary

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Quote from: Eternad on July 02, 2023, 12:50:14 PM

Buying Bitcoin and just hold it is really a good strategy but holding it on a centralized exchange after you purchased without moving it on a non-custodial wallet is a bad strategy because centralized exchange can close their service anytime while your balance is trap inside the exchange. You are lucky if you can recover part of your assets but most cases user lost their holdings once the exchange assets is not sufficient anymore to distribute to users.

Purchase Bitcoin and Hodl it on hardware wallet for long term is the best strategy for everyone in Bitcoin.

There is nothing better than storing assets on an exchange, of course we don't know the worst case scenario where an exchange can go bankrupt at any time just like the case of FTX which is a large exchange that ended up being a scam, while customer assets cannot be withdrawn for a reason they cannot liquidate their ownership.

Buying bitcoin and then moving it to a non-custodial wallet is the best way to store long term, we will not worry about our assets being held because we ourselves hold the private keys, I think with a hot wallet or other hardware it is the best way to store assets.

SaveOurSea

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Quote from: jeraldskie11 on July 06, 2023, 04:57:34 PM

Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

There's nothing wrong if you buy Bitcoin today because I believe in the future you are going to be profitable. Some people just waited for a right time to invest Bitcoin because they think that the best time to buy is year 2024. Well for me, since I relying on my analysis in Bitcoin technically, this is the best time to invest in Bitcoin because it's very cheap. Base on my analysis, market was already bullish but there's just no enough investors to result an impulsive movements in the upside and that's why people thinking it's still bearish.

It's true that it's better to take advantage of this time to buy, especially since the price of Bitcoin is currently relatively cheap,
if we have to wait again it's not impossible we lose the moment and in the end regret it,
regardless of your analysis is correct or not I think bullish has not come.

Obari

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Do you need any thought in this when your tittle already says it all? Stop think and start buying mate, everyone and since you're already thinking about buying bitcoin, it shows that you also believe that the price will skyrocket but the issue and challenge is that nobody knows when and that's why you need to stop thinking and start acting and go buy your bitcoin and since you mentioned coinbase, it is a nice platform and you can still try trustwallet if you can keep your seedprase or pass key safe.
Before you think or consider buying bitcoin, I will advice that you get yourself equipped with the basic knowledge about bitcoin.

jossiel

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

It's not good to leave what you've bought there.

You need to withdraw it and then find a good wallet to store it. If you don't own any wallet yet like a hardware wallet, you can put that bitcoin in Electrum.

But if your intention is to day trade then that settles it and you really have to leave it there. You only need to remember that only keep what you can afford to lose there.

DoublerHunter

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Quote from: jeraldskie11 on July 06, 2023, 04:57:34 PM

Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

There's nothing wrong if you buy Bitcoin today because I believe in the future you are going to be profitable. Some people just waited for a right time to invest Bitcoin because they think that the best time to buy is year 2024. Well for me, since I relying on my analysis in Bitcoin technically, this is the best time to invest in Bitcoin because it's very cheap. Base on my analysis, market was already bullish but there's just no enough investors to result an impulsive movements in the upside and that's why people thinking it's still bearish.

^There should be faith before investing in BTC and if you believe that BTC price will increase because for me, anytime is the perfect time to buy BTC, and as long as you did not sell it under the price from your purchase, considering that is the best for you. Because BTC has been proven that there will be a bullish trend and we are lucky if the ATH will come because it will surely have a reward.
Look at the BTC, it has seen increased adoption over the years, with more businesses accepting it as a form of payment and financial institutions offering BTC-related services. The development of infrastructure around BTC, such as cryptocurrency exchanges and custodial services, has also improved, making it easier for individuals to buy, sell, and store BTC.

jeraldskie11

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

There's nothing wrong if you buy Bitcoin today because I believe in the future you are going to be profitable. Some people just waited for a right time to invest Bitcoin because they think that the best time to buy is year 2024. Well for me, since I relying on my analysis in Bitcoin technically, this is the best time to invest in Bitcoin because it's very cheap. Base on my analysis, market was already bullish but there's just no enough investors to result an impulsive movements in the upside and that's why people thinking it's still bearish.

Slow death

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From what I can see OP you are saying you want to buy bitcoin and keep it in coinbase. if this is really your intention then without a doubt it would not be a good idea to leave bitcoin stored for a long time on an exchange even if we are talking about a reliable exchange with a good reputation, the problem with that is that one day the exchange may ask you for a lot of documents for kyc and you don't have such documents and with that your bitcoins will be stuck on the exchange forever, you can avoid this by doing what most people recommend

which is the following, buy and send your bitcoins to a secure wallet and that you have your private keys well kept and with that you are safer that your coins are well kept, but if you want to day trade then you will have to use another strategy that consists of leaving only the value for day trade, it has to be money that you can afford to lose that you won't miss. I hope that with this you understand both things and that you see that in both cases you shouldn't trust exchanges

jrrsparkles

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

1 BTC = $1M for sure but we don't know when it will happen so if your strategy is to hold until that price comes up then it's a known strategy called HODLing which is more of an investor has nothing to do with trading. But keep in mind that once you bought it fron coinbase move the Bitcoin to Electrum or any open source non custodial wallet which will gives you the seeds and private keys so you can access your funds anywhere with no restrictions

o48o

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

That's most profitable way for most people. As not everyone can or should trade and trading bitcoin is hard even for experienced people. Only few people can make a living out of it, others are just playing and trying. To most people it's similar to gambling. You might get it right but if you trade with a leverage you also might lose it all.

Not to mention you have (at least in here) mark every trade for your taxes and that's a hassle i wouldn't want.

KingsDen

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Quote from: Fuso.hp on July 06, 2023, 09:38:09 AM

Everyone has been talking about Bitcoin since a long time ago, there is a possibility that the price of Bitcoin will increase a lot between mid-2023 and early 2024. Now I have a real match with their ideas. For quite some time now, I have seen the price of Bitcoin only increase. At the moment, the price of Bitcoin exceeds 31 thousand dollars. If the price of Bitcoin continues to increase like this then the price of Bitcoin will be close to $50K very soon. Now it remains to be seen how long the market will continue in this upward trend. If the market can create a good support at $31K, there is a good chance of the market going higher. Looking at the market movements, it looks like Bitcoin will move to a better position later this year.

There is no doubt that bitcoin has made some good movements since this year. In as much as we do not count bitcoin movement from 15k to 30k as a major bull run, I feel that bitcoin has counted it so.
It therefore means that we should expect bitcoin at the zone of 20k again in order to gather the momentum to pump during the halving pump.
It is fine to wait if you want to buy at once, but if you are disciplined enough, you can continue buying with the DCA method.

lixer

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

You are thinking of doing a good thing, one suggestion from he would be that make sure you do DCA (Dollar Cost Average) which means that you buy in portions and not all at once, for example, you have $2k as your capital, you buy $100 worth of Bitcoin today, and then you wait until the price drops a bit more and then you do the same thing again, and you continue doing that for every single interval of Bitcoin's price drops until it reaches the bottom or you invest everything.

This way, you will have a good buying price and you won't miss any spot even if the price starts going up after some point. Also, make sure that you keep your Bitcoins somewhere out of the exchange you are using for the purchases if you are planning to hold them for long so that they stay safe.

Inwestour

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Quote from: Huppercase on July 06, 2023, 07:52:25 AM

The answer is simple as this, BTC is not as profitable the way altcoins are, when you invest in BTC, the highest profit you can get that will no exceed 1x, but altcoins that have low market cap can do 10x, 20x, 30x and this is why you see lot of people still buy altcoin and when it comes to trading too, altcoins-USD is more profitable than BTC-USD but altcoins have high risk, if anything goes wrong with altcoins, you will regret buying them. My little advice for you is that if you buy BTC on coinbase, withdraw it to an external wallet, don't leave your coin in coinbase exchange because if anything goes wrong, you will lose acess to your BTC.

Bitcoin will not exceed x1? Did you mean x10?
But in any case, it will be a reliable investment, for which you will have to worry much less than for altcoins, because of which you can lose your investment. Also, you can't be sure if an altcoin will give you x10 or x20, it can also only do x2, or not grow at all, if it were that easy, everyone could buy altcoins now and become rich in the future, but it doesn't work like that.

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