I also think anyone starting his Bitcoin accumulation journey should know that Bitcoin is not a quick get-rich-soon scheme, and also be aware of the volatility part of Bitcoin so that it will enable the person to hold his Bitcoin for the long term, even though there is a drop in Bitcoin price because he/she already knows that is one of the characteristics of Bitcoin.
The presence of a Bitcoin ETF certainly shows that Bitcoin is increasingly being considered as a class asset for investment. Despite all the risks inherent with Bitcoin, its price has experienced a rapid increase with the total market capitalization skyrocketing.
For knowledge and the sake of those who are relatively new to Bitcoin, can you tell us some of the risks that are inherent in Bitcoin with respect to the caption of this thread? This will help us juxtapose the risks of Bitcoin and long term investment to be able to factor same into our decision making in the Bitcoin accumulation journey. Such answers will also help especially the new investors know if it is buying Bitcoin for long term is worth the risk that you are expected to tell us.
I have personally analyzed historic data of Bitcoin as a way of checking the risk factor of Bitcoin investment and possibly comparing same to other investment portfolios. All my findings shows that Bitcoin becomes mainly risky for day traders or short term traders who can be whipped out of the market with a single spike that can gap even their stop loss for those put one. These are the people plagued by the volatility of Bitcoin and all manner of risk that can be envisaged in Bitcoin. Apart from these short term investors, I think Bitcoin is not as risky as people say.
Following the mainstream media, it will be really challenging for new and small investors to join Bitcoin with relax minds because the risk of Bitcoin is what they sell to the public even more than the technology and the job Bitcoin was created to do. So, I understand when some people who might want to conform to the media.
Like I said before, I do not see much risk associated with Bitcoin for long term investors, even though we know that nothing is 100% guaranteed.