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Basic Questions about Cryptos / Re: How often do you check on your Crytpo/Bitcoin?
« Last post by MrSpasybo on Today at 08:35:54 PM »Always checking to see the status of the market if you'll buy or sell could be understandable if you're investing in altcoins and not Bitcoin. Bitcoin is more of a long-term investment and should considered as such.Well, I don't think so. I invest in both BTC and ALTS using DCA strategy, and I track my portfolio daily on TradingView + CoinGecko to practice my technical analysis skills. There is no pressure to take profits or cut losses because I still believe that BTC can reach $150K-170K in this cycle and that is when I will first take profits on crypto. I have no intention of holding my BTC from this ATH to the next ATH, from this cycle to the next, I want to buy at the bottom and sell at the top to make good profit.
When you see Bitcoin that way, then there'll really be no need to check if it's time to buy or sell. Timing the market isn't really a healthy approach for bitcoin investment because the market is highly volatile and unpredictable, you may never know what turn it'll take in the next minute, so the best option is just to buy ( at any time) and HODL .
As long as investors are not under too much pressure, have negative emotions and make unwise decisions, it is necessary to follow market movements, especially for full-time traders. For new investors, I hope they understand that constantly opening and viewing the value of tokens or the entire portfolio does not help them increase, investors should spend that time learning technical - fundamental - onchain analysis to improve their own investment capacity.