Gaining a better understanding of when to buy Bitcoin can help you take your investment strategy to the next level. It has been an interesting year for Bitcoin and the entire cryptocurrency market. The crypto market shed the majority of its 2017 gains this year as market corrections kicked in. These losses left many investors with difficult decisions to make, such as when to sell Bitcoins, and should I buy Bitcoin now? The important thing to remember is that there isn’t one particular style of investing that fits everybody.
Choose Your Strategy
When it comes to investing in Bitcoin, there are a couple of popular strategies to follow. In the end, you may find that a combination works best for you. This is normal and finding the right balance increases your return on investment (ROI) and reduces your stress levels in times of market corrections. Let’s explore two popular Bitcoin trading strategies.
Long-Term: HODL
The Bitcoin HODL (hold on for dear life) community is strong and why wouldn’t it be? Bitcoin is the world’s first successful cryptocurrency. Aside from the fact that it introduced the world to blockchain technology, there is also a social and economic freedom associated with this cryptocurrency.
HODLers believe in Bitcoin’s underlying quest to free the world from a corrupt and nefarious financial system. Additionally, they believe that Bitcoin will always see a rise in value in the long term. Considering that there is fewer than four million Bitcoin left to be mined, the scarcity of this digital asset is undeniable.
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