Right now, there's a ton of buzz around Bitcoin. This digital currency is evolving thanks to blockchain tech, becoming more transparent and refined. If you’re willing to face some ups and downs and invest wisely, it could seriously change your financial life for the better. Bitcoin is making transactions way easier across the globe right now. I believe we’re seeing it being used everywhere, from banks to online shops, and eventually it’ll be part of everything. From everyday transactions in every country to international trade, Bitcoin is gaining traction on all fronts.
The economic framework is super vital for Bitcoin’s growth and can help push it forward. It looks like Bitcoin is heading towards creating an alternative economic system, making significant changes in many areas like large company transactions, banking systems, and even communication frameworks in various nations, paving the way for better economic opportunities.
I think to really see Bitcoin as a solid investment, you need to hold onto it for a while. A good timeframe is about 7 to 10 years to really see returns. But hey, there are some steps needed to make Bitcoin even better, like reducing government meddling and improving blockchain technology.
You don't need to hodl bitcoin for 7/10 years, that is two halving season and more. You make bitcoin an asset after which you sell and buy cheap. At least that works for more investors who are DCA.
You don't need to call public seminar or meeting of people to accept bitcoin use or private sector collaboration, none of such will be far reaching.
Take for instance if you want to pay government bills like school fees, flight tickets, import and export duties, inter bank investment etc and you see bitcoin as payment option... What do you think will happen?
It's possible to do to hold Bitcoin for 7 or more years, but for sure there will be a lot of pressures or temptation, so the OP should need a lot of toughness specially in your mind if you will able to survived that kind of run.
As far as the impact of Bitcoin to all sectors, well the only thing is that if they make or accept it as a payment system, then maybe it will grow. But we all know that there are a lot of challenges as well, like the transaction fees and it's high volatility.
The day goes as the spread of bit coin is going. Many people didnt know about Bitcoin five to six years ago but today, because of the improvement of technology, everyone knows about Bitcoin. If you are not afraid of different market contacts and continue to invest properly, you can expect to be financially able to be able to be financially able to accomplish the process of transaction as this digital currency has been expanding and is growing rapidly in almost every case, including banking transactions online and offline transactions, its you mentioned. Yes, I admit that too. Economic infrastructure sensitivity can play an important role in bitcoins progress being popular in the amount of bitcoin being popular all over the world, I believe that all transactions can be purchased with bitcoin one day because they have already started. So I think if investing bitcoins in future profit will have the possibility of getting a profit.
Some investors don't wait until 7 years, they get tired and want to sell. It is normal to have such urges but everyone has a future when they begin to invest. Don't try to be interested in others, lay your foundation and set raise, you can earn profits from Bitcoin while holding for just 2 years, it depends on what you want, more years of holding measures an increase in return of profits you get from investing and holding longer than others.
Since BTC skyrocketed, I doubt that people will start paying anything with it. Instead, they will either trade it for a better/ bigger accumulation of it (so isn't actually a sale) or they will keep it stored as long as they can. Other coins/ tokens will start being more preferable as a mainstream payment method but not BTC.
You can choose to hold bitcoin for that long until you take profit it that it the way you want to do it.
You can also choose to take profit during every bull run while you are holding. You can trade and take the profit(risky but very doable). Another viable way to make money from bitcoin. There are others- crypto lending too.
The bitcoin from years ago is as real as the bitcoin from today. And it will remain so as the bitcoin in the future no matter whether you hold for 3 year or 7 years.
Transaction fee aside the high volatility is whats keeping most business away from accepting bitcoin as payment for their goods, unless they are to use a payment processor where they will have to convert instantly after payment is being received because for small business it will disturb them in time of restocking their store and if price is not on their favour the business is going to record some loss, unless its in the case of considering all sales payment that comes in crypto to be consider as reserve fund for the business.
Satoshi might have intended bitcoin as a payment but its impossible now to use bitcoin for day to day transactions. Bitcoin has became a rare asset that is limited in supply and there's always a demand of it. It's like gold but more than that, gold don't have a exact volume and we don't know how much can we mine but for bitcoin, it's fixed how much we could mine and how much would be available to us and to add to that, lost gold can be found and used but lost bitcoin goes into void and decreases the overall supply forever. Bitcoin is a speculative asset and should be treated as such.
And it just shows that Bitcoin has also evolved, others might think it's for the worst, specially those about the technology and those who are in the early days like the cyberpunks who is against the government. Nevertheless, as time pass by, it has evolved to one of the best assets right now.
Satoshi might not envisioned this as his invention is for payment scheme, nevertheless, that's how it has been. Many see as a opportunity and so that's what happen in the last 7 years or so. So with that, to really make profit here, the longer you HODL the better, as every 4 years, the supply dwindle while the demand goes up.
setting a seven-year investment plan right from the start of one's investment journey can just be like a bigger picture to aim at while dividing that long term goal into smaller goals one will plan to get to that will serve as a motivation to aspire getting to even greater goal. everyone that decides to invest for seven years and even upwards might not necessarily achieve that goal without giving up along the way, but it is better to have a big plan than not even have a big plan.
even though i am hoping that a will stay patient enough with my investment for that period of time, i have chosen to take it a step at a time, DCA what i can do at this point and continue building my bitcoin stack year after year which keeps me abreast with market trend till i am able to reach my goal or get somewhere that is close to my goal. setting an investment goal does not mean that by all means you must attain that goal, it helps you stay discipline and makes you stretch yourself above limit so achieving your goal becomes possible.
I think it would have been okay even if you just take out some of the profit for yourself during that entire 7 year period but never losing bitcoin to hold. The important thing is you keep holding and do not drain your holdings.
For people who are not that rich, 7 years without touching a huge amount of money will be difficult especially if there has been some emergency. Kudos to anyone if they were successful in holding bitcoin for as long as this without doing anything to it. Maybe I should just forget I am holding bitcoin so that it lasts this much lol.
You say you can see profit in bitcoin if you hold for two years? What happens when you buy at the peak of the bullrun and suddenly the bear season sets in? In this scenario you won't be in profit, rather you will be in loss of you sell two years later, when the bear season is still hitting hard. To be on the safer side it's advisable to hold your bitcoin for at least one circle. And bitcoin full circle is measured in every 4 years. That's to say 4 years makes up one circle in bitcoin market. This will enable you to benefit from both seasons that are observed in bitcoin investment. If you bought at the previous ATH and held, you will then have the opportunity to sell part or whole of your bitcoin at the new high that will be recorded. Giving you the chance of making profit.
But it is not always advisable to sell all your bitcoin you got from the previous circle, when the new circle comes. There is always a big price difference. If you sell all at once, you may not see it in the price of the previous circle again.
Yeah sure you can hodl bitcoin for 7 or more years but what I actually mean is you can also sell along the line at least after every circle of 4 years that the halving and bull season is gone before the bear, by then you would have sold to wait and buy at the bottom. This is the strategy of the whale, even between the bull they can manipulate the market by selling heavily to cause panic in the system especially where there is a little negative news so that they can push price down and buy more. But basically, nothing is wrong hodling for 7/10 years but I don't have to do that because it is not maximizing profit.
what I like about bitcoin investing is that it's relatively new asset which arguably still in price discovery and people are bullish about its prospect, no better asset than bitcoin considering such factors and the fact that every day bitcoin is getting scarcer is such a good combination and add that with all the advantage that you already mentioned making bitcoin sounds like it's the way to go for people who want to create generational wealth imho and people who hoarded bitcoin since long ago are already having generational wealth.
but as for your statement you don't even need to hold for that long, see the profit that people have generated from just buying at bearish up until now alone, you're already outperforming most of the so called "bonafide" asset by miles.
Yes, you can sell along the line during the bull market and take profits, however, if you don't need the money then why sell. Just hold until the next cycle to make your profits double, although as mentioned, there are a lot of things that can happen along the line specially things that we don't have control.
But in any case, if I have the chance and will power, I will continue to accumulate as long as I can, doing DCA and just forget about your investment. And then later just how it grow and maximize your profits.
It is possible that in one year you can feel the benefits of price returns. People can also make a profit in a shorter period of time by trading Bitcoin. Buy at $81,000, sell at $85,000.
Investments in a period of more than 4 years are realistic for investors to choose so that their money can be safe from depreciation or as a hedge, although it is not wrong if some expect big profits behind the amount of Bitcoin they work on in that period.
Seven to ten years is such a long time for certain investors especially those who are looking forward to seeing their ROI in the shortest time possible, an actual Bitcoin cycle lasts for about four years and then a new cycle commence, so if one is to wait an average of seven to ten years that's some two to three cycles which i believe will be a very long time, it may be very beneficial as the price at as that time may have gone so high and far beyond the price at which the investment was initiated but then most persons may not have this level of patience to wait for the ROI so it may appear like one which isn't applicable to them as they will not be willing to wait that long to get a ROI even if it promises to be significant but institutions maybe they could work with that as your concern here is about the transformative impact of Bitcoin on the economy which mostly will have a whole lot to do with the institutional impacts on the economy as the have a good level of impact upon which they can affect the economy with at most points in time.
If you do such a trade, the problem is the capital that will be used. If the capital is not big enough, then the profit from the trade will not be much. Unless you trade 1BTC you can calculate the short-term profit that can be obtained properly.
If someone is thinking about Bitcoin, I would rather suggest for long-term investment. Those who want to trade Bitcoin for short-term profit must be patient enough to increase the profit.
No problem if you want to keep Bitcoin for 7 to 10 years. And now, you can take profit after you hold Bitcoin for some years. But if you think you don't want to sell all of your Bitcoin, you can hold for some amount and only take enough profit for your life and family. Yes that will be a dream come true for you.
But if that is average Bitcoin investors, they will sell their Bitcoin when they see the new ATH because that is the time they can get the maximal profit. They will not wait for more because they can buy back Bitcoin when the bear market come so they can guess that they can have more Bitcoin than before.