Quote from: stadus on August 14, 2024, 11:39:13 PM

Quote from: DiMarxist on August 11, 2024, 09:36:21 PM

If you are investing for Bitcoin for long term, you don't have to check the price daily or weekly just save your seed phrase in a good secure place and delete the app from your phone. And you can check the price just once a month.
Or set alarm to receive the price of bitcoin whenever there is fall and rising. And when the price down then buy more to fill the wallet.

Bitcoin investment is indeed less risky for those who knows well how to manage this kind of investment, but for those who simply invest for greed, it certainly turns out that it’s highly risky for them. Acquiring knowledge and clear understanding on the market is the key, otherwise you will get easily panic and resort into wrong decisions which will lead into a lot of mistakes and inevitable losses.

In addition to good knowledge and understanding in investing in bitcoin as the key to success, we also need to know that investing in bitcoin will be very risky if using free money, meaning money that is not used in the near future, especially using money from debt, then investing in bitcoin will be high risk.

Because investing in bitcoin can be said to not have a high risk because if we don't sell it, we don't lose even though the price is going down. However, many beginners consider this as trivial so that they want to invest in bitcoin using money that is not free so that when the price of bitcoin goes down, there is panic or when suddenly needing money forced to sell at a low price. This often happens including to my own friend, he used all his money to invest in bitcoin but suddenly he needed money and was forced to sell some at a low price.

So in my opinion, besides needing knowledge and understanding, we also need to manage our finances in investing in bitcoin.