Re: Can you consider yourself as a risk taker if you buy bitcoin?
If you already bought an asset, you are considered as a risk taker already because you are taking the risk of a potential loss.
It all comes down to how risky an investment or an asset maybe. Bonds is an asset with the lowest risk. Stocks has more risks than Bonds, but lesser than crypto, and speaking of crypto, it is for me the most riskiest investment currently. As long as you invested into something that can't give you guaranteed returns then I guess it is considered a risky investment. Whether it will be precious metals, or things you got from an auction, or an NFT whatever, as long as it's an asset, you are already taking risk because you don't know if you will get profit or loss from it. I forgot that business is also added because you are risking your capital into building one.
Well, I already bought Bitcoin years ago, so I guess I can consider myself as a risk taker already.
Taking a risk means you should be thinking in probabilities. You shouldn't be just talking how much you can make or when you are going to buy your lambo. Don't be a lambo guy. Consider the other side of the coin. What you invest you should be willing to lose without leaving any mental or big fund damage to you. Since we're speaking risk, you should not only have a plan for price analysis but for how much you manage your funds and your risk. When will you take profit, take partials, cut losses, when to engage, when to add position. Only the brave wins, because those who take big risks wins big. The reward is as massive as much as the future of BTC.
Wether you agree to it or not, it is what it is. BTC is the best investment at the time. Once you see the potential, you cannot unsee it.
When we enter bullishness, hope you're of those riding it.
Investment is really a probability game, there is no sure win or sure lose in the investing world. If you manage your risk very well, there is a high chance that you can go to the TOP. People thinks that they can become rich by just investing, they even do not know on how many portions should they allocate in order to say that his/her decisions are good. For me to not a lot of opportunities, I usually divide my capital in 4 parts so in percentage it will be 25% each. If I have $1,000 and I want to buy bitcoin, I will just allocate $250 because it is the 25% of the $1,000 and this example is one of the risks management that investors should do. They shouldn't just putting 100% of the capital in specific asset because the risks are high and the probability of winning is low. Better to diversify it in order to catch different opportunities that the market is offering.
You can also increase your probability of winning if you know what you are doing, if you are a trader then get some courses that can help you to become a skill trader. If you are a NFT hunter then apply some course regarding it or make a network in order to not miss our the current NFTs. Just be sure that you allocate some of your time on your niche because it can help not only growing your capital but also becoming a better person with good attitude and mindset.