Quote from: JayJuanGee on November 26, 2023, 10:22:20 PM

Quote from: summonerrk on November 26, 2023, 10:17:34 AM

I understand that psychologically people are afraid to buy at lows, not understanding that this is a sale, and thinking that this is the death of Bitcoin. But he is immortal, and this is explained by the fact that he has already been buried more than 470 times.

https://crypto.news/bitcoin-has-been-buried-over-470-times-in-14-years-a-review-of-obituaries/

It can take a while to get conviction regarding buying bitcoin, buying on dips and ongoingly buying... so sure there are elements of BTC price performance (and also the performance of any markets) that attract people to buy on the way up and to sell on the way down, which is the opposite of what they should be doing... so it is not necessarily easy to get ahead of such inclinations that normal people have.

I totally agree with you, @Jayjunagee. While speculations and predictions are important qualities that can be acquired relatively quickly, what i feel is more important is conviction, a quality so many investors lack especially those new to buying Bitcoin. When I talk about conviction, I mean that a Bitcoin investor should comprehend the underlying asset to a level where they feel at ease, all the while continuing to educate themselves by considering opposing arguments. Conviction offers so many benefits to investors, including,

1. With conviction, one can listen to opposing arguments with an open mind, assessing them for possible outcomes.

2. Conviction will help empower investors to navigate economic downturns and seize opportunities to acquire more Bitcoin during bear markets. It helps to fight against blind speculation, helping majority of Bitcoin investors make informed decisions based on a deep understanding of Bitcoin.