Lookin4Value You're 11YO!? Amazing! Since you plan on hodling for a long time, the sooner you get started the better!
For people who might sell sooner, there areeeeee specific times which are better to get started. For example, I predict we'll set a new all time high later this year which may remain the all time high for the next few years. If you sell within 365 days of buying, that would trigger short term capital gains tax which is the highest tax imaginable. I can't believe I'm giving tax advice to an 11 year old, but it's important 😉
I definitely recommend a Dollar Cost Averaging (DCA) strategy for you. This means buying little by little every day, week or month to grow your stack over time. Stack sats!
It's called averaging because, if you buy 1 BTC at $10k and 1BTC at $20k your average price is $15k. This would be exactly the same as buying 2BTC one time at $15k. A DCA strategy ensures you get the best price possible over time because even the best traders in the world don't know what the lowest price will be.
Every day that passes, the Bitcoin network grows stronger. Not only because more miners come online, but because the longer bitcoin continues producing blocks without interruption the more confidence people have in the stability of the network. There areeee some people who have concerns about how the network will remain secure once all 21m bitcoins are mined, but I think things will be fine.
FUN FACT: There will never actually be 21 Million BTC! The maximum number will actually be 20999999.9769 BTC, slightllllllyyy less than 21m.
JP Morgan may be right, but I wouldn't trust anything they say. In fact, I don't trust anything anyone says! Instead, I recommend researching FACTS yourself and listening closely to multiple OPINIONS from as many smart people as you can find. Then take all those facts and opinions and mash them together to form your own opinion based on everything you learn. That way no matter what happens, you can take full responsibility for your actions.
I'm so excited for you! I wish I had discovered bitcoin when I was your age. Remember, the money piece of bitcoin is awesome, but what's more important is the freedom bitcoin brings, and freedom is what everyone really wants.
To the moon dude 🚀
-GΞR฿Z