Rightly said, every investor (Both Bitcoin as well as other assets) needs both knowledge and patience. It's not enough to just buy Bitcoin and hope for the best, you need to understand the market and the technology behind it because if you're not fully equipped with the knowledge you need to make certain decisions, you'll be exposed to lots of dangers that is capable of negatively impacting your investment and you might end up making wrong decisions and putting your investment in jeopardy.
And you're also right that the key to success is often HODLing for the long term, rather than trying to time the market or make quick profits and it takes a great deal of patience to HODL. This is a lesson that many new Bitcoin investors learn the hard way.
These are some of the pivotal aspects of Bitcoin that I want a lot of people to understand. The kind of perception we had about Bitcoin earlier was that it was a get-rich-quick money platform where you just put in some funds and tomorrow you expect it to grow bigger than normal. But that was not the case.
The truth is that Bitcoin is just like any other asset out there. It grows over time as the market is being patronized. The only difference that Bitcoin has over centralized currencies online is that it is a decentralized platform or asset where people jointly contribute to the growth and development of each, and also to the uptrend of the market, rather than just a government or a few sort of people deciding the fate of the currency.
This is, in fact, the reason why Bitcoin would continue to be an outstanding advancement in the financial technologies sector. Because the world is moving towards a world of freedom where individuals can have financial freedom and breakthrough through their own means, not influenced by a few people in the government or so. But many of us, like myself, thought Bitcoin was a get-rich-quick money platform where you just sink in some funds and expect magic to happen tomorrow.
And as we were studying the processes over time, we came to realize that that was not the case. Because this kind of situation creates fear in your mind and there are just misconceptions that were probably propaganda flagged by the government so that people would be discouraged from the use of Bitcoin and other cryptocurrencies.
But because of the consistency of Bitcoin and how it has grown over time, which the decentralization has really helped in the longevity of the currency and how it has been able to stand the test of time, now the government cannot fully lay out campaigns that would negate the use of Bitcoin because people have become more knowledgeable and gaining more understanding of what Bitcoin stands for. And it has grown over time. For those that have believed in the process, at those very critical moments that Bitcoin needed people to believe in it, they are the users that have benefited immensely today. Indeed, everything in life needs consistency.