I believe the phrase "HODL WHAT YOU CAN AFFORD TO LOSE" should be a guide when investing in Bitcoin. As it would go a long way in preventing trauma which may be caused by possible fatal losses especially when investing in shit coins.
Although the phrase "HODL what you can afford to lose" has become a cliche in the world of Bitcoin investment and other types of crypto investment, an average person doesn't agree with this. The major reason why an average person makes any investment is because they want to make profit out of it either in the long or short run and so, most people don't even want to listen to the hard reality that loss is a serious variable to be put into consideration while making investment of
any kind. And you find some persons investing all their earnings and within a few months, they start expecting their investment to yield returns and if there is a bit of fluctuation in price at that moment, they become troubled and may sell out their investment due to poor investment strategy and plan.
As simple as this sounds and as frequently as it is being reiterated on this platform, people still make unguided and miscalculated investment that makes them very uncomfortable within few months into the investment and will be panicking and looking for news and thread suggesting that the bitcoin price has skyrocketed overnight. Maybe the term
HODL should be written in full with it explanation attached to it always. It means
hold on to dear life I had to emphasise the
dear life so people will know that they shouldn't just expect a return overnight.