Everyone makes this investment as a sign of long-term holding of their Bitcoin investment before investing. But many of them are not able to keep their investment for long mainly due to their lack of proper investment plan and source of income. Suppose you invest in early stages and even swear from the beginning that I will continue for a long time. After you start investing in bitcoins, you find yourself in a financial crisis and sell your investment. Such is the case with many people that they try to keep their investment for a long time but they cannot continue their investment for a long time due to lack of sufficient opportunity i.e. lack of sufficient money.
So before investing in Bitcoin make a decision in such a way that you never have to sell your investment. Set a specific goal and keep investing until you reach that goal.
I completely agree many people invest in Bitcoin with intention of holding onto it for long term but mostly they are forced to sell due to financial constraints or lack of proper planning. It is really important to have a solid investment plan and stable source of income before investing in Bitcoin. Setting specific goal and sticking to it is very important so we do not end up selling our investment prematurely. It is important to be realistic about our financial situation and only invest what we can afford to hold onto for long term. By doing this we can avoid pressure of selling during market fluctuations and achieve our investment goals.
I agree with you here. Most people would say Bitcoin investment is not for everyone, which I'm afraid I have to disagree with. They say that because in as much as most people struggle to invest in Bitcoin, some investors tend to have low financial literacy. Is this a problem with our investment? A big yes. Financial illiteracy is a huge problem for Bitcoin investment. It ranges from poor financial management, inconsistent portfolio accumulation, misunderstanding risk, and using emotions to invest. One or the other an investors will fall in this categories if he is not guilty to all.
The solution is to figure out the part we are lacking behind and start working on it immediately. This is the fastest way to have a successful investment. Although Bitcoin has proven that long term is more profitable and it is a roller costa, yet it requires knowledge (financial literacy). Without it, we risk crashing and losing our money from time to time making us not to reach our goal.