The ultimate goal of buying or selling bitcoin or any other cryptocurrency is to make profit. But the question remains how long should i hold bitcoin and other cryptocurrency?
Despite the unpredictable pattern of bitcoin and other cryptocurrency,
it is a notable form of investment. Hence the volatility shouldn’t deter
anyone from investing in crypto currency. The duration of holding can
not be ascertain as the holding of cryptocurrency should be based on
Investing in cryptocurrency should not be treated like other forms of
investments that the return on investment is calculated based on the
tenure of investment as this principle does not hold with crypto
How long should i withhold bitcoin and other cryptocurrency then?
Though most experts will advice to treat crypto like a marathon and hold for the long term, but the duration of withholding is completely based on your level of profit and as such the decision to buy or sell is made from different factors ranging from the average price, the current market price and analyses of the futuristic price.
Nevertheless, withholding crypto for the long term could be highly profitable, assuming you bought bitcoin as at October 2010 when it was about 10 cents and you invested a $100, you would have been able to buy about 1,000 bitcoins.
How profitable would it be presently?
Withholding the bitcoin until bitcoin hit it’s all time high in Feb. 2021 it would be worth more than $48 million. On the other hand holding bitcoin for a short time might not just be as profitable but it all depend on your level of profit as at that point.
Hence the question of how long to hold on to bitcoin can not be out rightly answered as no one can certainly predict what the value of bitcoin would be in the future.
With the current trend of bitcoin more people indicate interest to buy bitcoin through reliable exchange platforms like Nairadirect and Exchangeindeed, thanks to their instant funding and swift response to customer queries.