But I don notice say many newbies wey I know for Bitcoin matter no get knowledge about how e de work, dem de buy Bitcoin with money wey dem wan use on the short term because dem hear say e de profitable. I believe say na only wen we enter bull run proper wey Bitcoin price go de surge steadily na im investors fit to take chances to invest money for short term profits.
Nobody know exactly wetin Bitcoin price go be in di next 24 hours, weda e go pump or dump, na only speculations and predictions we fit to do. Dat na why newbies need to understand say e no de advisable to invest in Bitcoin on a short timeframe because di price fit to dip wen dem wan use di money. Invest di amount wey you fit to put aside, preferably do DCA method and no plan to sale am on the short term. Na my advice to newbie investors.
I think a lot of people are confident in the market and buying more despite when it's obvious there is a double top as stated by some traders but because some people think we have not experience real bull run yet but it will be down on our eyes that this will be the last all time high we will see in this circle or I maybe wrong, people that actually think the bull run is yet over will benefit later if the market rebound but the risk is higher, it's better to wait for it to go down more.
I wouldn't even advice DCA yet, not because it's not a good strategy but because Bitcoin price is way to high from the supports we have, there is major support around $38, it would be a good but if we put some orders around that range and any further decline DCA will be good from that moment whether we later go up or down, it's going to be a win-win but it should never be with the emergency funds.