My Solana Journey (Beauty of long-term Investment)
Before I start writing about my Solana Journey, let me first give the definition of what long-term Investment in cryptocurrency is.
Long-Term Investment in Cryptocurrencies:
This type of investment in crypto is when you expect its price to increase over time — usually an investment that must be maintained for a minimum of 6 months to 1 year. In some cases, long-term crypto investors plan on holding their investments for multiple years. Investments can be made in parts, and dollar cost averaging is a great strategy for many investors.Source
How I made my Solana trade: some time in May this year, Solana made an ATH (All-Time-High) at $58 after few days dumped 65% back to $21.
Then i made my research about Solana, checked for the total supply and value supply.
Total supply for solana => 488,630,611 million
Available supply for solana => 291,086,543 million.
Check CoinGecko for more information on Solana.
Screenshot taken by me from: TradingView and Edited with Canva
When supply is low the demand is high, so price is likely to go up, so I decided to buy some certain amount of Solana. But note my decision was backed up by technical analysis.
My trading strategy was when price goes up to a certain amount or a resistance, I take some profit either 50% or 25% profit then wait for a little correction or pull back then I buy more, continuously till it's current price, earlier today when Solana got too $120, i sold off 25% of what I'm holding and left the remaining 75% to run.
The major point am making is that when you're holding a coin for long-term you make insane amount of profit, but at the same time still take some little profit along the way.
Any one who bought Solana at $21 in May or in June when price came back to the support at $21 and is holding till today has made +500% profit.
Posted Using LeoFinance Beta
Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
I know many of my friends who love to have the spot market but I personally don't feel that instant market is good for our return. In share market for oil market I prefer long term investment and in that way we can minimise the risk of capital loss
Long-term Investment is the best for maximum profit 😊😄.
Stable and less risky profit
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