Quote from: CryptopreneurBrainboss on December 15, 2023, 08:30:00 PM

Quote from: Lidger on December 11, 2023, 06:07:59 PM

Happy to think that dad will sell 10 cows of his farm's choice to pay for my investment and on the other hand a little scared but I am ready to take the risk. Maybe tomorrow I will get the money from selling the cow and tomorrow or the day after tomorrow I will invest the whole money in Bitcoin. Although it is a big risk for me at first, I believe that I will get a good return on this investment.

The first rule of investment is to never invest more than you can afford to lose. I believe that the money that will be given to you by your dad is all the money you'll have on you and investing everything is wrong and extremely risky. We're not praying bad things for Bitcoin but anything can happen at any moment thereby keeping the price of Bitcoin down for a number of week or several months and when all your money is in Bitcoin you'll be under a state of panicking which is the number one reason for people panic selling (they have over invested or borrowed money to invest and now can't stand the market correcting or crashing).

Better still If you want to invest everything, don't go all in at once, DCA by buying Bitcoin weekly, monthly or whenever the price dips by a specific percentage. Don't throw all your money into the market even though it's Bitcoin you're investing into. People don't understand that Bitcoin doesn't give you cashflow but capital gains so you don't have to invest everything you have in Bitcoin. Those with stories like that and were successful are very lucky and it's in a rare situations that another users will see same result if he follows the same path.

Investing in Bitcoin can be very exciting but it's good we manage the excitement so we don't find ourselves regretting the decision we made out of excitement when the market was bullish but can't stand the market been bearish.

Your advise aligns with strong investing ideas. Your story reinforces the age-old advice to avoid placing all your eggs in one basket, especially with Bitcoin. Your advice to use DCS is wise and shows a grasp of Bitcoin. This digital asset is volatile yet can yield large capital rewards. Your warning is crucial. Many investors get caught up in a bullish market and panic when it turns down. Panic often causes impulsive judgments like selling at a loss. Your strategy encourages a gradual entry into the Bitcoin market, appreciating its promise but accepting its uncertainty. By supporting Bitcoin's potential with a logical investment approach, you avoid over-excitement and reckless investing.