Quote from: Arenga pinnata on June 21, 2023, 03:30:20 AM

Quote from: Rx009 on January 25, 2023, 06:00:49 AM

I don't know much about bitcoin, and I also want to invest in bitcoin, but I want to ask whether bitcoin has good potential for the future? and what,, many people who lose investing in bitcoin.? and I want to know why people experience losses investing in bitcoin?

Most people who experience losses in bitcoin investments are because they don't have enough insight before starting to invest. And another thing is due to a weak mentality that is easily affected when seeing price volatility in the market. which sometimes makes panic or sometimes makes greedy.

so the points that make someone lose in bitcoin trading are
✓ Not understanding bitcoin itself
✓ Not understanding crypto market movements which always have high volatility
✓ mentally weak
✓ easy to panic
✓ and too greedy.

Well, this is truly some of the reason behind the loss in Bitcoin. But anyway, I didn't understand what it meant by "Weak mentality". Does this mean FOMo that when an unexperienced buddy does not understand the dynamics of the market and when FOMo comes, he considers it an opportunity as a result of which he becomes a victim of loss due to FOMo.

Quote from: Rx009 on January 25, 2023, 06:00:49 AM

I don't know much about bitcoin, and I also want to invest in bitcoin, but I want to ask whether bitcoin has good potential for the future? and what,, many people who lose investing in bitcoin.? and I want to know why people experience losses investing in bitcoin?

I hope you have understood from @Arenga pinnata's replay why people face losing in Bitcoin. I really appreciate his work; he explained the reason for the loss in Bitcion, and I will also explain how to avoid it.

Do you know how you can minimize/avoid the loss in Bitcion?

- The first thing you need to learn is the basic knowledge of Bitcoin as well as risk involvement.
- Second, you should think of investment by making the golden phrase "invest what you can afford" a topic.
- Third be aware from scams, like which exchange trade to use or which wallet is best to use. Becuse today, a prominent exchange can also cheat you, i.e., FTX.
- Forth is Hodl. It means Bitcoin should be kept for the long-term like be patients, patients because in short time you will not make as much profit as you can in HODL.
- The last one is that if you are future trader so don't trade with a high margin. Means not to be greedy.