99% of people lose money trying to trade Bitcoin.
100% of HODLers with at least 4 years in the market are green right now.
Stop thinking you're a genius and just buy and HODL your Sats. You're dumb like 99% of people (me included).
It's not that difficult:
Pay all your monthly bills.
See how much money you have left (if you have zero... Well... I will pray for you).
Decide how much of that money will be used to buy Bitcoin. I will not say the annoying cliche "OnLy iNveSt WhaT yOu cAn afFord tO lOsE", because let's be honest.. most people can't afford to lose a single thing, they're desperate for a solution.
So the best advice I could give you is: Because of the halving cycle which happens every 4 years or so, Bitcoin tends to be higher than it was before after 4 years, but between the time you buy and that 4 year time frame, a bear market can occur. So make sure to just buy Bitcoin not with "what you can't afford to lose", but with an amount of money you can afford to leave untouched for AT LEAST 4 YEARS. That way if a bear market starts you can wait for a better opportunity to leave without selling at a loss.
And finally:
- Besides the previously advice, the ideal scenario is: NEVER SELL YOUR BITCOIN. HODL FOREVER. That's not some meme advice, there's a reason why people tell everyone that. If you sell your Bitcoin you're exchanging a valuable asset that increases its value over time, for an asset (USD, EUR, etc) that is based on being infinitely printed, decreasing its value over time. Why the hell would you do that?
If you keep your money in Bitcoin, 4 years from now you will need less Bitcoin to buy the same stuff today. On the other hand if you keep your money in Fiat, you will need more Fiat to buy the same stuff today.
The only situation you should sell your Bitcoin for Fiat is if you need to use fiat to pay for something that will save your life or the life of someone you love. Because at the end of the day that's more important than money.
But if you have another choice, always chose not to sell your Bitcoin. You have no reason to sell your Bitcoin. You can spend your Bitcoin if you want and replace it later, that's what Bitcoin was created for. But don't exchange your valuable Sats for trash Fiat without a really good reason. I can guarantee that you will regret it in the next 4 years.
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