~snip~
Also how do you suggest I handle incorrect price predictions? Anybody been here. How do you handle it?
^ Nothing, just accept the fact that BTC price is unpredictable and don't expect profit in a short period of time.
Dont focus on the price prediction but instead, hold it and have your own goal of making a profit. If you bought 1 BTC at the $30k mark price it must you will sell higher than that amount. No one can predict BTC prices correctly.
Most of the time we think that we can predict the price right neglecting how the volatility of the market affects the price and possibly changes the trend. Indeed, the best thing to do is to buy at a cheaper price and hold, the wait for the price to rise before selling. But what we usually do after buying Bitcoin, we already think about making a profit right away but if we fail, we then also think it is a scam and worthless investment. In many cases this happens to us, some people have already learned from it while some have not.
I liked what Benjamin Graham said in his book “The Intelligent Investor” about the pendulum. I will replace the word “market” with the word “bitcoin”. Bitcoin is a pendulum that swings from excessive optimism to underestimation of pessimistic sentiments. Nobody knows where this pendulum will swing. Failing to predict the price of Bitcoin is quite common. We must learn to tolerate failure in prediction as part of our development process. If we don't learn to take this lightly, sooner or later it will drive us crazy and we will lose our portfolio completely.