1
Cryptocurrency discussions / What makes it possible to hold tight to your portfolio without selling.
« on: February 10, 2024, 10:20:31 PM »
Well, the thought just came to my head: to discuss the things that make it possible for someone to hold tight to their portfolio without selling so quickly when there is yet a little or no profit on their investment.
A few things that make some investors quickly sell off their bitcoin are:
1: lack of proper knowledge about Bitcoin technology and also lack of Bitcoin investment knowledge.
There are some unofficial investment rules of Bitcoin, that state, "buy the dip and hold, keep holding until you become rich, never invest the amount you can't afford to loses, never invest the amount you cannot hold for a long time, not your key, not your coin, if you don't sell cheap, you have not lost anything, etc. If an investor studies and understands those rules, they will hold onto their portfolio for a long time. If also a Bitcoiner understands the technology, knowing that it is not a pump and dump coin like other altcoin, then they will have the courage to hold tight to their portfolio.
2: Depending on Bitcoin investment as the only source of income. If an individual decides to quit their job and invest all their life savings and the entire salary into Bitcoin, how then can they get the money to spend on their financial needs? It therefore becomes very important for an individual to have other streams of income so that when any need arises, they will not have to sell their Bitcoin but would rather spend from their salary or from the earnings they make in their business.
3: Borrowing to invest in Bitcoin. Although interest-free loans from relatives can be preferable, taking high-interest loans from banks or private companies to invest in Bitcoin is quite risky because the loan can be due when the investment has not really generated any good profit for you.
If there are more, you can add them in the comments to enable others to learn and be guided.
A few things that make some investors quickly sell off their bitcoin are:
1: lack of proper knowledge about Bitcoin technology and also lack of Bitcoin investment knowledge.
There are some unofficial investment rules of Bitcoin, that state, "buy the dip and hold, keep holding until you become rich, never invest the amount you can't afford to loses, never invest the amount you cannot hold for a long time, not your key, not your coin, if you don't sell cheap, you have not lost anything, etc. If an investor studies and understands those rules, they will hold onto their portfolio for a long time. If also a Bitcoiner understands the technology, knowing that it is not a pump and dump coin like other altcoin, then they will have the courage to hold tight to their portfolio.
2: Depending on Bitcoin investment as the only source of income. If an individual decides to quit their job and invest all their life savings and the entire salary into Bitcoin, how then can they get the money to spend on their financial needs? It therefore becomes very important for an individual to have other streams of income so that when any need arises, they will not have to sell their Bitcoin but would rather spend from their salary or from the earnings they make in their business.
3: Borrowing to invest in Bitcoin. Although interest-free loans from relatives can be preferable, taking high-interest loans from banks or private companies to invest in Bitcoin is quite risky because the loan can be due when the investment has not really generated any good profit for you.
If there are more, you can add them in the comments to enable others to learn and be guided.