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Cryptocurrency discussions / Re: Long-term planning is essential in crypto space
« on: June 01, 2024, 11:59:23 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.Well, you may see it as trading because you have your own view. It is no problem as long as it can be profitable.
I don't think I'm smart, no one can predict the price with 100% accuracy. You also can ensure the profits even if it is for a long term investment. Everything we do is about speculating the price, whether it is for short or long term holding.
If you don't have strong mentality, you won't rest your emotion whether you are holding for a long term. I think it is not about how long we hold the coins. It is about how to have mature mentality, don't be easily panicked because of the price changes. Anyway, I don't understand why you become so pessimistic about the potential profits for a short term holding.