Is the HODL Mindset a Wise Step in Investing in the Cryptocurrency World?
Having a way of thinking to do hodl shows that cryptocurrency investors have the intention to invest long term.
Because, for their chosen investment asset, it really has to be held firmly in their own portfolio properly.
So they have hope that the selling value of the assets they have will be more expensive as time goes by and feel satisfaction for their patience.
The term for the decentralized financial community or what is commonly referred to as "Hand of Diamonds" and as traders who are very enthusiastic about their own assets.
Hodling is one of the strategies for investing in the crypto world, although there are several strategies commonly used by the mass audience that may be more profitable for investors.
Although there are some that act as liquidity so exiting investors have a much smarter way.
If we look at the history of crypto and how many were born and just like that in the middle of the road.
This happens more often than not at all, because the HODL mindset strategy will make us poor while staying at home.
This will be very possible for cryptocurrency investors or traders, especially for investors who are just going through it.
Because, basically they do not understand and know what they are investing with the amount of money they have.
They will invest simply relying on the hype as a chard to further their intention to invest.
Is the HODling way the right way to invest bitcoin long term? Also, what about other cryptocurrency coins?
Since my many years spent in the world of crypto and decentralized finance, I have had my own eye on how the crypto market works.
My assessment of HODL only makes sense if we look at one of the functions of crypto itself and have good use.
Because, if we look at the coins or tokens that cryptocurrencies own, the HODL Strategy will be in a very tragic gloom.
However, if we look at the selling price of one of the cryptos, namely bitcoin, which has experienced a very rapid increase over time and has undergone ups and downs throughout its history.
What is certain, those who make purchases at the wrong time and store too long, will experience a loss of most of their investment profits.
And if you buy tokens or coins that don't have legality and a good reputation, it will destroy the economy because of the HODL strategy.
Due to the fact, the buying and selling cryptocurrency market experiences unstable ups and downs and can be manipulated by some financiers in the world.
The right and the best way to do the HODL strategy is to see and target the term and profit we want and make sure it is in the long and short term.
If you have confidence in the long-term viability of the system and expansion of crypto assets BTC, ETH, LTC, SOL, TRX, DOGE, etc.
So the best action you can take is to buy, hold, observe the market, and sell at high prices.
You can do this over and over again to allow you to continue to hold the assets you want and get more profit when the market fluctuates.
Traders who do this have a more mature plan and in a very, very precise way and end far better than letting everything end tragically for doing nothing.
However, if you feel like doing nothing and don't want to be active in the crypto market on a day-to-day basis can give you big profits later on, then it is a very high risk way to go.
The final way of thinking about the HOLD strategy is that, in the end, it will tell most crypto investors that, once the price of the asset you are investing in earns enough profit, then sell it all.
Because, you will be able to make purchases in large quantities at lower prices later on.
When the price of crypto decreases, sell it and when the price of crypto rises, sell it, so you will get profits that are right on target without harming you in the slightest.
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