We often notice rich people become rich day by day. It's no different for Bitcoin as well. Because we can see the most benefited person from Bitcoin is big investors, mean definitely they are rich. If you agree with me then why do you think most big investors are gainers and why most small investors can't gain.
For me, I think financial stability works behind our success in life. So same goes for Bitcoin investors as well. The rich person could invest for a long time. He doesn't have problems even he doesn't sell his holding even during very bear markets. A financially stable person even could hold 10 years. But like us who are small investors, we aren't stabled financially. As a result, we don't when we have to sell our holding for need. That's how we become losers even we intend to hold for a long time. I am a real example of that recently.
Do you think financial stability is mandatory to be a gainer in Bitcoin investments?
During the time that I have educated small to big groups about cryptocurrencies, I told them about the importance of being financially stable even if the crypto market goes down. Just like me of course, even though that I have lost a lot in the crypto space, I always make sure that I maintained to become financially stable.
I have lessen my spending on unnecessary expenses (it’s not good to say no because we can’t avoid it along with mandatory ones like monthly bills, essential needs, etc., but at least with control) and I usually bet my money mostly on assets such as cryptos, NFTs, etc.