Topic: Why you don't need to HODL or trade Bitcoin (Read 1176 times)

Bitcoin then we do regard that however doesn't imply that those expressions of yours would truly be ordinarily ready to persuade out individuals who had been supporting and having positive perspectives about bitcoin potential in longer viewpoint. Telling that bitcoin is only an air pocket is by all accounts a misrepresentation of the truth and nobody would have faith in it any longer except if it comes from a specialist in financial matters that truly don't care for bitcoin.

Trading cryto is worth the attempt. No investment guarantees you 100% profit so is cryto trading but once you understand your personal strategy and develop on it you keep your profit on a constant flow. Metals and indices also have high volatility and people still trade them how much more cryto. Between holding and trading I feel it's the choice of every individual and what such thinks about crypto generally.

No, not at all, I don't own Dogecoin yet I am observing it because it is surely a phenomenon. We can say that with certainty. But saying Bitcoin tops it all and is the most profitable is just not true at this point anymore. It has nothing to do with Bitcoin's status and its qualities, it is just an assertion of how the situation right now is.

No, not at all, I don't own Dogecoin yet I am observing it because it is surely a phenomenon. We can say that with certainty. But saying Bitcoin tops it all and is the most profitable is just not true at this point anymore. It has nothing to do with Bitcoin's status and its qualities, it is just an assertion of how the situation right now is.

Maybe we can say that Bitcoin is not profitable compared to some altcoins at this time, Bitcoin doesn't pump by x100, unlike altcoins but to know which one is more sustaining, no altcoins can do it.

Thanks for pointing out Dogecoin...are these people are profiting? It looks like you got fooled by Elon Musk and keep following him. I suggest to you that you better sold your Doge if you still have, never waits that it become dead just like before. Doge could be in great now but wondering if it will able to sustain for a couple of months.

for those who work and are busy, I think there is no need to trade, only hold crypto currencies that you really like,
with a saving system you can also do it, yes when you pay, set aside 10% or 50% to buy crypto currency,
and buy it enough Just waiting for the price to dump, don't be greedy, take this opportunity or opportunity as a foothold for your investment

Holding is one of the good decisions and if we have the right strategy of course it will make a profit,
bitcoin is unquestionably the future and as you said we can see the price till now bitcoin is the king of crypto,
what is clear in holding bitcoin we have to be patient

I agree on that it is really smart to hold than nothing. We can really gain in holding, if we are going to look at the bitcoin price we can see that bitcoin is really a good coin to hold based on its price from 2018 till present , big profit comes when we have patience and hold, the only reason why some people get loss is the lack of patience and trust, however we cannot really blame them for crypto is not stable.

Bitcoin then we do regard that however doesn't imply that those expressions of yours would truly be regularly ready to persuade out individuals who had been supporting and having positive perspectives about bitcoin potential in longer angle. That is the reason it is smarter to hold anyway the sum that we can stand to lose. What's more, I am certain that Bitcoin will get another opportunity to better constantly cost again later on.

I am not sure I get what you are saying? Bitcoin tops all currencies in the market, but in what sense? It is more profitable? Those times are long over. Congratulations to DOGE holders right?

Yes bitcoin is the best currency to hold depending on the price of bitcoin the price of ethereum and other altcoins increases. Ethereum is the best of all cryptocurrencies but bitcoin tops all currencies in the crypto market. Bitcoin is more profitable for long term investments why not trade in that currency and move forward with faith.

Bitcoin and Ethereum are both good assets and if you keep on saying that ethereum is better than bitcoin then why would ethereum cant take over the value of bitcoin, Bitcoin is more decentralized than ethereum so what you are talking about? You also said that it is better to hold ethereum than holding bitcoin, I don't know why you keep trusting Ethereum over bitcoin, bitcoin already prove itself to a lot of people, bitcoin is now used as a means of payment in many companies.

Well, that's pretty stupid calling bitcoin a relic of the past even though the price says so otherwise and to everyone who sees this, do not be deceived with the title, you can still hodl bitcoin and it will be much better because the prices that it can go up is really high compared to altcoins that you might be risking your investment and ending up with nothing.

I want to share some thoughts about the reasons why HODLing Bitcoin is risky, and why you don't need to build any TA strategies for trading Bitcoin.

First: why not to HODL Bitcoin?
HODLing require from you to hold long position for years. You assume that the price will go up long-term. But why it should go up? General reason for that assumption is that many and many people, enthusiasts, developers, investors, organizations of the whole world get to recognize Bitcoin more. This results to encreasing money flow and price. But in essence, what Bitcoin exactly can give? Of course, decentralizaton, self emission, a bit privacy. But Bitcoin lack some features, that other cryptocurrencies have. Bitcoin can't give people enough transaction speed and convinience. Bitcoin can't give developers convinient methods to build applications. Bitcoin can't help organizations and investors get rid of the fear that this is all just a bubble.
Bitcoin is important step to revolution of the whole financial system, but not the last. It exists now, because not many people understand that Bitcoin is relic of the past. Ethereum is much more promising than Bitcoin with it's smart-contracts. HODL Ethereum not Bitcoin, when the disaster comes, Bitcoin won't survive.

Second: why not to trade Bitcoin?
How are you predict price of Bitcoin? TA indicators?
Ranges? Support/Resistance? Price action? Candle patterns?
We all know about bad statistic of these tools. Almost anyone can't say why they using RSI, MACD, MA, CCI, Bollinger bands and other indicators. Why tringle pattern should end in desired direction? How these tools can help you predict, statistically unpredictible price? Price doesn't owe you something.
Price drives by big speculators, sharks, whales, market makers and other monsters of crypto ocean. They are trying to eat each other. Doesn't you noticed that Bitcoin pumps when new antminer ASICs are sold? You think that Elon Musk that smart to buy Bitcoin? He's smarter! Hype of Bitcoin is rising, why not to sell Tesla cars for Bitcoin?
But just a quick and realistic glance at the Bitcoin price chart of last several months gives clear vision of situation:PUMP!. And what happens after pump? Have someone an answer? Sit down, take A+, of course a DUMP!
You need to have insider info. With that, you'll get more chances. Or be the shark, while this almost impossible.
You can keep trading TA of course, scalping works in every market. But how many succeded traders do you know? Those youtubers? They get money from traffic, adverticement and affiliate programs, not from your success.
If you don't beleave in the future of cryptocurrencies, just want to earn some paper money, then HODL Ethereum or speculate with top altcoins with high liquidity and volatility.

Tell me your opinion.

Edit;
For better understanding of topic, you need to read all replies, cause there are some clarifications regarding this topic.