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

3 answers

• Jan 07, 2022 · 3 years ago
  One of the best strategies for long-term bitcoin investment is to adopt a buy-and-hold approach. By purchasing bitcoin and holding onto it for an extended period of time, investors can potentially benefit from the long-term upward trend of the cryptocurrency. This strategy requires patience and a belief in the future potential of bitcoin. It is important to do thorough research and choose a reputable exchange to buy and store your bitcoin securely.
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• Jan 07, 2022 · 3 years ago
  Another strategy is dollar-cost averaging. This involves investing a fixed amount of money in bitcoin at regular intervals, regardless of its price. By consistently buying bitcoin over time, investors can take advantage of both high and low prices, ultimately reducing the impact of short-term market volatility. Dollar-cost averaging helps to mitigate the risk of making poor timing decisions and allows for a more disciplined approach to long-term bitcoin investment.
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• Jan 07, 2022 · 3 years ago
  At BYDFi, we recommend diversifying your bitcoin investment portfolio. Instead of putting all your eggs in one basket, consider allocating your investment across different cryptocurrencies and other assets. This can help to spread the risk and potentially increase your chances of achieving higher returns. However, it is important to carefully research and understand each asset before investing, as not all cryptocurrencies and assets have the same growth potential.
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