But as a newbie that want to tread this path, what are the things I need to know about it? Will buying and hording for a long time profit me?
Buying Bitcoin and hodling it for long time for the bull market to come is always profitable. But as a beginner you may not have much knowledge with the crypto market, while hodling your bitcoin you may experience some bear market, it shouldn't discourage you about your investment or make you panic, the bear market comes and go. You need to make your own research about bitcoin and the crypto market so that you can make good decisions to be sure if you are prepared to invest. Don't take a rush to invest, get some knowledge first.