Quote from: Wind_FURY on January 08, 2024, 02:10:33 PM

Quote from: michellee on January 08, 2024, 01:58:33 PM

Quote from: Justbillywitt on January 08, 2024, 08:45:24 AM

Wether investment is for the short term or long time, Bitcoin investment should be the goal and not any compromise. No investor invest with the sole purpose of losing money, sometimes it could be that they lack the right knowledge and understanding about Bitcoin and possible consequences that their actions will result to. It could be that those who do this are people who were recently introduced into crypto currency trading and investment without proper guidance or adequate knowledge. Some people just want to dive into something because they heard that it's profitable without knowing the underlying risks.

Before people start investing in Bitcoin, they should learn about it first. They don't need to immediately decide to invest in Bitcoin, especially if they don't know how. Most people rush into investing in Bitcoin, so many of them panic when things don't go according to their wishes.

In my personal opinion, newbies could buy now - as long as they're entering into a favorable price-point if buying the DIP, OR any price-point if the intend to DCA, THEN learn more deeply about it later.

If a newbie waits to learn more about it first, he/she might end up buying much later because there's simply so much more to learn once you have learned about Bitcoin. Truly learning about it is a long term journey and discovery.

It's okay if he decides to learn it first before buying Bitcoin because one person's understanding will be different. A person who wants to learn the ropes wants to make sure that what he is about to do is correct to start buying Bitcoin. He can buy now when there is a correction and use DCA to buy Bitcoin regularly.

People give many reasons before they start investing in Bitcoin, one of which is their readiness to buy Bitcoin. And it's normal for someone not to buy Bitcoin immediately because it is new to them.

Quote from: Wind_FURY on January 08, 2024, 02:10:33 PM

Quote from: michellee on January 08, 2024, 01:58:33 PM

Although investing in Bitcoin can be used for the short term, many people realize they can make huge profits if they hold for a long time. The profits will be greater than in the short term and they can also use their time to accumulate more Bitcoin.

For plebs like us who don't have millions upon millions in capital, long term/low time preference/HODL is the only way to invest in Bitcoin.

Choosing to invest in Bitcoin for the long term is a good decision for them. It will give them the opportunity to collect more Bitcoins and be a good way of having investments in Bitcoins. We always recommend that to our friends who haven't started investing in Bitcoin.