Quote from: Rikafip on June 15, 2023, 02:09:11 PM

First of all, welcome to forum and I have to say that you chose a very good time to buy your first bitcoin.

Quote from: Why2why on June 15, 2023, 02:03:43 PM

Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

Regarding this "I will be in the profit very soon" part, that doesn't have to necessarily be true as it may be even years before bitcoin goes back to the levels where you bought it so you should be be prepared for that scenario as well. Having said that, since you bought your first bitcoin much cheaper than ATH price was, chances are that you won't have to wait for years to be in profit.

Great reality check. A lot of people in this industry come with the idea of quick profits which is great and true to some degree but at the same time it doesn't happen as often as these newbies think. There's definitely dry spells and periods of no movement, which we may be in right now since the price of bitcoin never moved from its 26-27k support. But at the same time this is great exercise to help people be accustomed to how things go in the bitcoin industry.

I joined bitcoin with the very same idea that was shattered when I lost significant amounts of my investment in 2018, from there I worked my way up and was able to even go beyond of what I initially thought would set me up for life. Bitcoin pays those who wait but the secret is to not expect that much.