Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Samlucky O
on 08/09/2024, 00:23:05 UTC
⭐ Merited by JayJuanGee (1)
Newbies or new investors don't necessarily need to gain any bitcoin knowledge before they can start investing their money into bitcoin.
I disagree with you here. Finance is a general need for both new and old investors and no one would want to start an investment if he does not have capital. What is the essence of starting an investment when you don't have a fund? What a new investor needs which is important at that entry level is a basic knowledge of Bitcoin investment without that they are bound to lose their investment at that early age.

Let me tell you something before you go ahead and make mistakes in life even if I do not have the right to advise you financially. But understand this fact, don't start any investment whether Bitcoin investment or not without figuring out how to go about the investment. For a better understanding, you need to know the nature of the investment after your capital has been realized.
Investing without knowledge is like an empty barrel, it's useless.
Still, when we want to start investing, we must know the basic knowledge about bitcoin, how good the future of bitcoin is, and how bitcoin works, if it feels suitable and understands then you can invest because you already understand bitcoin.

Except about bitcoin technicalities, then you don't need to understand this is usually used by developers.

Before starting, of course we must prepare ourselves, such as stable finances, long-term planning, always ready for emergency funds, prepare mentally, and make sure you can be consistent with bitcoin investment because there are so many ways to start including the DCA strategy.

Theirs no one that invested in Bitcoin without acquiring the knowledge or experiencing the method other people apply for the investment, for you to make profit for investment of Bitcoin you have already know the difference between long-term investment of Bitcoin and short-term investment of Bitcoin, so if you don't know these two things I believe that you will not make profit from bitcoin investment,
You should also learn strategy to mitigate your spendings to be Able to accumulate a sizable amount within the time frame or the time horizon of your investment without fucking up down the road. Because most folks who thinks that investment is all about long time or short term without also learning how to manage their fund properly may end up over spending or mismanage their fund and later sell off their starshes due to wrong information. I think the major thing to Focus in bitcoin investment is to have a sizable upfront amount to be able to keep the accumulation process continuously till a reasonable amount is achieved without deviation or panic of selling withing a short period of time when their is down trend. Because surely one factor of an investor is also patient, an investor who is not patient may not be able to make profit in the lung run, because surely he will be tempted to sell off without meeting up their goals.

so what I notice that make people to lose in bitcoin investment is miscalculation and greedy, this is the things that makes people to lose their investment.
Like I said lack of patient, Lack of planing, lack of Focus is also a factor in addition to your sudjestion.