Quote from: Odohu on September 08, 2023, 03:22:45 PM

Quote from: red4slash on September 08, 2023, 10:54:00 AM

Broadly speaking, someone who invests in bitcoin is certainly based on their belief in bitcoin itself, and I see things that don't make sense when they invest in bitcoin while they don't believe in it, I can say they depend on luck and roughly they can be said to be someone who is gambling.
I was the same, when I entered and invested in bitcoin based on my trust in bitcoin with all the benefits offered. And I believe in it.
DCA is one of the strategies that is widely recommended, and I personally apply this strategy, yes even with a small amount but it is based on my ability in finances that I have planned as well as possible to prevent and anticipate something that I don't want to feel in the future / DCA.

It will surprise you to know that many people joined Bitcoin for the hype of bull run and not because of their believe in Bitcoin. To them, they just want to make huge profits over little effort and short time and these are the people that bought at the peak and some of them end up in agony during time of dips; agony because they were not psychologically prepared to handle periods of dips and consolidations. It is usually a matter of time before they truly understand what they got into and from then forward some will take the time to study the trend, the tech behind Bitcoin and how best to approach the market while others will sell at loss and live to rue their actions. If you are active in social media, you would have seen some people narrating their ordeal with Bitcoin; how they lost money and all manner of fud.

What I find puzzling is the idea that some people get into Bitcoin because of the hype surrounding it, while others do it because they truly believe in Bitcoin. However, simply believing in Bitcoin doesn't ensure your success with it. It's a bit like how many Christians believe that Jesus will return soon, but if they don't follow His teachings and commandments, it doesn't guarantee them a place in heaven.

What I'm trying to say is that, with Bitcoin, having a strong belief or getting caught up in the excitement of a bull run doesn't guarantee profits. What truly matters is the actions you take and the strategies you follow during these times, as they will determine your success, whether it's now or in the future.