AdministratorNovember 1, 2023 at 9:00 am616
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.