Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Road to 100k?
by
arwin100
on 25/04/2024, 09:49:15 UTC
⭐ Merited by JayJuanGee (1)
Each person should be tailoring his investment to his situation, and surely there should be less ability to aggressively invest into bitcoin if you are brand new to investing and brand new to bitcoin, and so if you don't have your shit together, including having some consideration of the 9 individual factors.

That's what we do talk about on the Forum on how newbies rush into Bitcoin just because they have a little knowledge of it and they forget that they still need to learn more about Bitcoin, no plan no strategy and they engage in it because they see others benefiting from it, they feel is easy and they too can gain more than they invest, things don't work out that way in the crypto space, seeking for mentorship and advise helps a lot.

I don't really believe there is much to know before getting started to buy bitcoin, all a newbie has to know is how to buy at first and them the next to hold, if there is any knowledge I consider compulsory is knowing how to manage his finances and know what he need to allocate to bitcoin without choking out himself and eventually selling off so early when he can't keep up any longer, and another thing is to have an emergency funds in place.

Yeah I can understand that a lot of persons actually get into bitcoin thinking it's a money making machine and tend to engage into short term investment and all that, and some even tend to get frustrated when holding in the bear market and might also sell of their bitcoin due to fear or panic, but what is most important for anyone to learn how to buy bitcoin and hold it.


Maybe at least they need to know on how to deal with their bitcoins bought also they should know the risk about how these scammers would try to attract them just to steal there money and also on how they can react or create their own game plans on what to do if there's certain manipulation happen that can affect the price of bitcoin to drop so those people who have holdings will not be scared on anything negative they see on short while.

Once they learn what needed to consider then for sure that everything they want to do with their bitcoins will go smooth and they can hold it without worrying that there's some possibilities to lose in value since they know that there's still a lot of great events will happen in future which it can help them generate more profits. Some maybe participate because they think they can easily earn money from bitcoin in short time period but once they know that there's more huge risk for dealing with it for short term for sure they would know that its better for bitcoin to invest with it for long term. $100k in price is quiet not possible to predict if someone thinking about that to happen anytime soon. But for sure there's huge chance that it will happen in next  4 maybe in 8 or on 10 years of its existence.