Bitcoin na one of di best investments wey anybody fit to enter but many newbies no know say e de better to hodl am for long term. Unto say Bitcoin de volatile dat na why e de advisable to hodl am for long term because na store of value wey de take long term to reach new ATH price and give better ROI.
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.
My brother, you don talk well, almost all newbies investors believe say once them invest in Bitcoin, them go just grow rich overnight, them no know say Bitcoin investment no dy easy like that, you need to hold for a very long period of time to reap the full dividend of your investment, and as such e no dy encouraging to invest money wey you wan use in a week or monthly time, because due to the volatile nature of Bitcoin, when you wan sell and use the money, the price of Bitcoin fit don drop wetin no nice, and your money go also drop, so at that point, you will be forced to sell at a loss because you definitely need the money badly, so na very nice update be this wey the op of this thread share with us.
And lastly, the way Bitcoin is structured, if you really want to benefit from it, the best way to go about it is to think of holding for a very long period of time, because short term thinking na for traders and e no go give you better results as long as na Bitcoin investment.