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Cryptocurrency discussions / Re: Long-term planning is essential in crypto space
« Last post by Sim_card on Today at 05:36:11 PM »I don't see short term investment as an investment but I see it as trading and it is very dangerous because we cannot predict the price movement of bitcoin. You might think that you are smart and plan to buy bitcoin and sell off in 6 months, but it will shock you that you might have reached the time that you plan to sell and bitcoin price is below your entry point. What will you do, sell in a loss, that will be the worst. In fact short term hodlers are not at rest with their emotions whenever there is a fluctuation in bitcoin price, it can lead to heart attacks. I believe short term holders are using more for important things to buy bitcoin thinking to make profits within a short period of time, which may be possible or not.This is why I am always baffled to hear that someone is investing in bitcoin for short-term and when he run at loss, he will be crying. Bitcoin investment is like every other invest or business that you set up or just started. You don't expect your new business or investment to give you a big profit that you should give to you in ten years time.Nothing wrong if someone wants to invest in a short time. It can be for few months or a year, depending on the target and what the season is. In the current season, I think some people just hold for few months. If there is a huge pump, they may take profits immediately. People may not hold too long because they know there will be bearish season. In the bearish season, the price tends to drop again.