Sometimes our approach towards investments could be our greatest fall because when you have a predetermined negative mindset about a certain investment, you definitely will approach it wrongly and may possibly make mistakes you may have to learn from the hard way.
Talking about approach 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. Bitcoin still remains the OG of the crypto space so it's never a bad option to invest in it.
Someone suggested that, when it comes to investment in Bitcoin, using the word "invest what you can afford to lose" is not too suitable and makes it look like Bitcoin is gambling or some sort of unserious business. According to him, the phrase should be "invest such amount you can hold for long, at least five to ten years". I tend to agree with him because if we maintain the phrase of what people can afford to lose, it means low income earners are not supposed to invest in Bitcoin because I doubt that they have some money they can through away even though they can afford to keep small fraction of their money in Bitcoin while expecting it will become something worthwhile in the future... this can be some sort of motivation. The various methods of Bitcoin accumulation being discussed so far are all aimed at encouraging people to invest some fraction of their money to save for the future (HODL).