Long-Term Holding Beats Market Timing, Says Veteran Crypto Investor
Crypto investor Murad believes that holding onto cryptocurrencies for the long term is a more sustainable way to build wealth than constantly trading or switching between coins. He says that traders are unlikely to consistently make money by trying to predict market movements, switching between assets, or profiting from short-term price fluctuations.
Murad argues that having a strong and loyal community is also crucial for a cryptocurrency's success. He cites Bitcoin, XRP, Dogecoin, Chainlink, Cardano, Solana, and Zcash as examples of cryptocurrencies with dedicated supporters who hold and buy them for years.
Holding onto XRP through different market cycles instead of selling whenever the price rises is a better strategy than trying to time short-term moves. According to Murad, 'You won't make money trading, rotating or market timing.'