Binance Do you consider BTC being best for long term trade or short term?

[sincerem]

Do you consider BTC being better for long term investment or short term investment?

To me, I'll simply say BTC is best for long term investment than short term investment. I see risk in trading BTC at the short term basis. Look at what happened just today, as BTC fell from $50,000 to $43,000 within an hour after El-salvador's BTC formal grant to use BTC as a means of legal tender currency for both local and international transactions.

Such decision took the price of the coin down swiftly which is surprising to investors who hoped it will continue moving up beyond $52,000 and even up to $60,000 within September to October.

My honest opinion is best to holdl BTC for longer time interval.

 

[btaliat]

I don't knw how to trade but if I do. I won't even trade with bitcoin. I prefer trading in some other pairs to trading in bitcoin. The price of bitcoin is sharply reacting to any event that happens in the crypto market hereby making its too volatile to trade with.

 

[Alexandoy]

I have read a lot about Bitcoin and one thing that stays in my mind are the posts about holding the Bitcoin for years. There's even a thread about holding the Bitcoin for 10 years which is kind of absurd. Anyway, with the trend this year that Bitcoin value dropped to $29k and now it is up to more than $50k holding Bitcoin for a long period is profitable.

 

[Putta Vince]

I reckon holding Bitcoin for long run I'd more profitable than short term trading. That's because unless you are a professional or expert Bitcoin trader , you won't get much time to daily analyse the bitcoin price and make profit from it. But it is evident that bitcoin price is always increasing in overall , so buying bitcoin at low price and holding it for 3-4 years can give you profit for sure.

 

[btaliat]

If I want to trade, I will prefer coins with low volatility. Bitcoins is top volatile for trading in my own opinion. I prefer having it as long term coin because I know that it always rises at some years intervals. I prefer trading with usdt and some other coins

 

[Iqra]

Yes, bitcoin is best for the short term yielding profit.

 

[sincerem]

Bitcoin will always remain a profitable coin long term. Even if I do trade it short term, it doesn't mean that the coin isn't rich for long term, just that I don't have the right funds to go for it's long term investment. Maybe in the future when I have much more reasonable funds I can go for 4-5 years Bitcoin holding investment, to see what it will bring for me overall. It has always been a coin full of surprises, which increases do high without our imagination reading through it that it will grow that way. And whenever it wants to make us feel pain too, it falls freely and takes some time to build up. Some users especially the newbies or the impatient ones will always cash out, resulting in a loss for them since they bought at last and not selling higher.

 

[Shaf]

Bitcoin has potential both in the long and short term. A lot of traders prefer to trade Bitcoin especially if they are low risk and have a lot of capital. That's because market movement is mainly dictated by Bitcoin and once you understand it's movements and trade it successfully, it gets easier to understand altcoins too.

In the long run, Bitcoin has a lot of potential in the next 5 to 10 years, Bitcoin can give a lot of refunds of bought now. That's why some people do regular dollar cost average over the years and they are now in profits.