Recommendation in bullish times

[soxcryp 17]

I received these recommendation that I found it good to share with the community about the bullish times we are experiencing today:

 

Bitcoin as a deleveraged haven

The price of Bitcoin is not associated with the productive capacity of a country, company or person, unlike stocks or interest rates, whose price is indexed to the performance of the agent they represent, company or country.

 

In this sense bitcoin is more like gold, albeit on steroids. It is 100% digital, easy to transfer and perfectly divisible. In essence they are only 1s and 0s in a database, but secured by the laws of thermodynamics.

 

But it is very volatile! Yes, although as a reference, since Bitcoin was born more than 10 years ago, there have only been 60 days where its price has been higher than the current one, that is, something like 2% of the time. Another way of looking at the same thing is that in the last 5 years the price of 1 bitcoin increased 3900% (almost 40 times), and the fact that it still does not represent even 5% of gold, makes me think that it still has a lot left to grow. It is true that the past does not have to reflect the future, but in this case it is not unreasonable to use it as a reference. And it is true that it is volatile, but on the upside.

 

But as savings. If you decide to buy bitcoins because you think their price will continue to rise, buy and forget for a couple of years. It is better to see it as savings than as a casino where it is convenient to try to guess what will happen in the short term. I say this because bitcoin is volatile, and even when the trend is - brutally - bullish in the long term, in the short term you could still go wrong. Be responsible and save with peace of mind.

 

If your wish, you may take the liberty of commenting. Greetings.

 

Credits for Guillermo de buda.com

[BitcryptoHan 2557]

On 8/13/2020 at 5:30 PM, soxcryp said:

But as savings. If you decide to buy bitcoins because you think their price will continue to rise, buy and forget for a couple of years

It depends on your analyses. There are time not to buy coins, what about people that bought bitcoin and many altcoins in 2017, they are all still losing now if they have not sold the coin till now. 

[Raqeebzy 6456]

According to your logic, you are saying 'Buy bitcoin and hold for a long time because if you buy for short term, you will lose because it is volatile'? 

It doesn't matter what type of trading you prefers or works for you (short or long-term), the other shouldn't be seen a lesser opinion or alternative. A lot prefer short term trading rather than holding long term for quick profits and it works well enough.

I don't see anything in this seriously. 

[malik6314193 5449]

These are good recommendations and we should follow it. According to my experience i think we should buy that currency and stop trading and hold it when price is at peak and then sale it. 

[BitcryptoHan 2557]

On 8/19/2020 at 12:46 PM, BTC Future said:

I wouldn't care about speculators. If they bought at 20k they should have done research first. Buying an asset that is already 20x up since a year ago is irresponsible. If they have done research they would knot better. Anyway it seems that even these guys will have a chance to profit, perhaps next year.

But not next year already, and nobody can say, it is getting hard for price to increase. But I get your point, it is very certain bitcoin price will still increase more than $20000. And possibly could be this year or next year. 

[Moaz 7239]

This is correct, bitcoin can be considered as savings like gold in the long term, because the price of bitcoin is fluctuating in the short term and its price may rise and fall within a short period, so it is better to buy bitcoin and keep it for a long time and thus you will achieve profits without any risk.

[magd 5231]

This matter is very important for people who own large amounts of cryptocurrencies, which imposes on them to pay attention to the times of ups and downs in order not to lose, but for people who buy and sell continuously, they do not study these recommendations well.

[Zaino34 0]

You must always choose the right time when buying and selling and when the price rises, I prefer to keep a little bit before selling and when the price starts to decrease I sell and I rely on studying and analyzing market data and prices. One of the ways to profit from cryptography is to store currencies for long periods until the price rises

[rekter 8129]

On 8/13/2020 at 7:30 PM, soxcryp said:

....and the fact that it still does not represent even 5% of gold, makes me think that it still has a lot left to grow. ...

Oh it does. There's a twitter account that summarises past profitability every day pretty well : 

This is pretty good argument to throw at anyone who is saying that bitcoin is too volatile and people are losing money with it.

[percare 3192]

Bitcoin was recommended to me in May and I invested late May and beginning of June. I bought some XRP too and LINK and didn't regret it. I will hold for a while and expect price to rise more. It is the best investment I could make currently.

[Yomose 3704]

On 8/20/2020 at 3:02 PM, malik6314193 said:

These are good recommendations and we should follow it. According to my experience i think we should buy that currency and stop trading and hold it when price is at peak and then sale it. 

Your recommendation is not accurate, the reason is that there are many trades making it, profiting from trading. You may not know how to trade, but do not because of that also be recommending people not to trade. Trading is although very risky but if known wellwith experience, it is profitable. 

[Guru2050 8284]

Bitcoin in few years coming will become so competitive, the demand for the coin will rise beyond reasonable doubt and thus cause  the value to hits a very crucial price. This period is still a good moment for holding BTC for a very long terms, you will be surprise of your achievements when the time comes.

[1qDan 478]

Personally, I do not see Bitcoin as a sustainable refuge, since for that to work, the investment must be at least thousands of dollars, however there is another way to use it as a stop as a path to earn money, and that option is to take advantage of the bullish movements, to buy btc and sell in small cuts and thus earn more than in the long term.

[Rosarvx 965]

good recommendations and we should follow it, and it's also for people who own large amounts of cryptocurrencies

[AlfFusco 664]

Of course, bitcoin can be considered as an object in the long term, but sometimes there are times when it is more profitable to sell it , it is undesirable to keep it, so if you invest in bitcoin, it is desirable to analyze the market and see how it will behave

[JanBomCrypto 494]

People should not fomo, they should learn very well, I notice it is hard to buy crypto during red market when the price I falling but very easy to buy when the market is green and increasing price when more people do lose. 

[mzk7736 1592]

The main problem is that it is very difficult to predict when bull run is going to start and when it's going to end. If someone predicts this accurately he can make a very good profit.

[yonkii 3205]

On 8/13/2020 at 7:30 PM, soxcryp said:

If you decide to buy bitcoins because you think their price will continue to rise, buy and forget for a couple of years.

Thanks for the advice kind sir. It is what I am doing and I am saving money to keep investing and increasing what Bitcoin I own and look for the distant future when prices of Bitcoin will have reached a lot higher from todays levels. It is a long term investment for me too.

[Sykkuno 2887]

Bitcoin is a great trade, buy low sell very higher. Don't sell too soon but wait for it, when the top will be in there will be many signs. It is a good time to hold as prices are expected to keep rising for a long time. I can't give predictions but I can tell this is not different from previous times.

[Whited35 15285]

When I see the market is bullish for my chosen currencies, I first analyze the market's scenarios and after that I use stop loss feature and I left some orders at the higher bids if I have no time to track the market actively. Otherwise, I check the direction and sell my holdings at the highest  possible  price in the cryptocurrency markets.