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Started by Sallyna, Mar 21, 2024, 04:23 AM

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Sallyna

I'm assuming that you're buying Bitcoin for the first time so with that, it's a good first step already.
I think many already said these to you, but I will share 2 tips that will help you in your investing journey.

1. Keep going - Dollar Cost Averaging. It's proven to be the best long term strategy though I still don't want to use the word "safe" from it because there are still risks to it. Just continue buying Bitcoin, and when you know that the price of it went down, take the opportunities and buy it. Don't be like other investors where they are panicking when they see Bitcoin going down even just a little bit.

2. Don't fall in love with your assets - What do I mean by this? You said that you will hold your Bitcoins for a long time right? There's nothing wrong with it, but set a specific selling time where whatever happens, you need to sell at that time. Don't fall in love with your holdings, and hold it for a very long time. That's my mistake already. I have a mindset where I will hold Bitcoins for a long time, then the bull run came in 2021. I didn't do anything at all, and I just watched the market. The following year is the bear market. I regret not selling a huge portion of all of my assets because I missed the potential profits at that time, and I can just buy more during the bear market