1. Fear and Greed: Bitcoin investors are susceptible to bouts of fear and greed. Fear can lead to panic selling during price dips, while greed might result in FOMO (Fear of Missing Out) buying at peak prices.
That's why you can't get involved in investment for reasons of large returns and you must have the right knowledge if you want to get involved in it. Greed and fear are two things that will lead a person to a stage of unwanted loss, but when you have the right knowledge this can passed by itself.
4. Patience and Discipline: Successful Bitcoin investors often exhibit patience and discipline. They stick to their investment strategy despite market swings and avoid impulsive actions.
Learning patience and discipline is not only when investing and trading in crypto, but wherever we are, patience and discipline are the way to achieve success. The difference is, we have to try to minimize the risk of loss while doing it and if we don't have the right knowledge in investing then we will make bad decisions and the power of knowledge is the key to reducing everything.
5. Risk Tolerance: Understanding your risk tolerance is crucial. Some are comfortable with Bitcoin's volatility, while others may find it too nerve-wracking.
If you don't dare to take risks then investing or trading is not a suitable job to choose, but that doesn't mean the risk can be minimized if someone doesn't have good understanding. The greater the risk we take, the greater the opportunity to make a profit on investment. Because bitcoin's volatility can have two real impacts on anyone, both in terms of profits and losses.