Post
Topic
Board Bitcoin Discussion
Re: obsolete bitcoin investment advices [change needed]
by
SOKO-DEKE
on 28/05/2023, 09:37:55 UTC
2mins 20s read.


1. Invest in Bitcoin with your spare money:
I can say that this advice is not necessary in today's bitcoin world.

If nobody can actually predict what will happen to Bitcoin market price in future but can only assume about the price, why should someone go ahead and invested all his /her money in bitcoin? For anyone that understand that Bitcoin is volatile in nature  that should be clear to everyone that we should not invested  huge amounts of money that may affect us in bitcoin, so the best is to invest small amounts  of money that will not affect us even anything happens in cryptocurrency industry.

2mins 20s read.

 Invest what you will not be needing in the next few years. It will not be advisable to use the money meant for your childrens school fees for bitcoin. Just have an investment budget from your income that will not negative alter your living state. Then, when you invest for 3yrs to 5yrs duration, there's no how bitcoin will fail you.

Yes, it is confirmed by early investors and it is also demonstrated by the history of Bitcoin that long-term investors always profit from their Bitcoin investments significantly due to the bull run period that long-term investors to experience. Therefore, holding Bitcoin for a long period of time, at least 5 years, hardly makes us to lose in our Bitcoin investment but likely to give us profits, and that is why we need to invest only money we may not have the uses in the nearest future.

2mins 20s read.

3. DYOR (Do your own research):
This advice should be for altcoin investors. If I may ask, what kind of research is one, especially a newbie expected to make in bitcoin. Are they researching the road map of bitcoin or are they researching the developers behind it? The right thing is to know when to buy. Simply buy low and sell high.

Even in terms of Bitcoin, not just with regard to alternative coins, our personal research is crucial because it can provide us with sufficient proof of Bitcoin and help us determine how much trust to place in our Bitcoin investment. In fact, personal research can help us determine how much will be sweet to invest in Bitcoin.