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Investing or Trading Bitcoin in 2023?
I’ve been buying and selling Bitcoin using USDT and regular money for a while. I haven’t made a lot of money, to be honest. But my friends who just bought Bitcoin earned $15,000 in a short time.
I’m thinking about changing my approach.
Which method do you think is best? Why? And how much have you earned?
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3 Replies
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I can’t believe some people have access to a really strong and reliable form of money like Bitcoin, which is simple to invest in, but they choose to stick with regular money instead.
Maybe before you traded with 1 Bitcoin, now it’s 0.1 Bitcoin, and later it might be just 0.01 Bitcoin. You might never be able to own a full Bitcoin again.
Learn about Bitcoin. Think about its future in 10 years.
When its value reaches $500,000, you’ll wish you had more of it, instead of the small amount of regular money you earned.
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Both strategies have their pros and cons
Active Trading: This involves buying and selling frequently, trying to take advantage of short-term market fluctuations. It requires a good understanding of market trends, a lot of attention, and the right timing. However, it comes with increased risks and costs (e.g., transaction fees).
Passive Investment: This is when you buy and hold an asset, like Bitcoin, for a longer period, believing in its long-term growth. It’s generally less stressful and doesn’t require daily monitoring. But, it does require patience and a belief in the long-term value of the asset.
Your friends success seems to indicate that the passive approach worked better in the recent past. But past performance isn’t always indicative of future results. You might want to consider your risk tolerance, investment goals, and the time you can dedicate to trading when deciding on an approach.
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if you didn’t make money last week you should definitely just buy and hold