What are the best strategies for holding bitcoin long-term?

3 answers

• Nov 26, 2021 · 3 years ago
  One of the best strategies for holding bitcoin long-term is to adopt a dollar-cost averaging approach. This means investing a fixed amount of money in bitcoin at regular intervals, regardless of its price. By doing so, you can mitigate the risk of buying at the peak and benefit from the average price over time. It's a long-term investment strategy that helps to smooth out the volatility of bitcoin.
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• Nov 26, 2021 · 3 years ago
  Another effective strategy is to diversify your bitcoin holdings. Instead of putting all your eggs in one basket, consider spreading your investments across different cryptocurrencies or even other assets like stocks and bonds. Diversification can help reduce the risk of loss and potentially increase your overall returns.
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• Nov 26, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, recommends a strategy called 'HODL' (Hold On for Dear Life). This strategy involves buying bitcoin and holding onto it for the long term, regardless of short-term price fluctuations. The idea is to have a strong belief in the future potential of bitcoin and not get swayed by market volatility. It requires patience and a long-term perspective.
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