Quote from: Roseline492 on Today at 09:57:46 AM

Quote from: livingfree on September 15, 2024, 11:51:22 PM

Quote from: Tauja on September 15, 2024, 11:27:06 PM

Practice investing in the early stages, strengthen the budget first for your living needs, set aside a few percent because investment is not for one week but one year, five years, ten years and can even last a lifetime. So little by little it will become a hill. Just buy routinely like most people have done.

Exactly.

Investments aren't mostly for short term although if you're in a jackpot and your investment pumped a lot in a short period, that's for you to decide.

But in the case of Bitcoin, this is better for long term holds.

Is there anything like jackpot on Bitcoin investment? Because I have not actually heard of it before, do you mind explaining it? Or is it when the Bitcoin price moves very higher as you are holding it that's why is considered to be jackpot? Well is the investors decision on what they intend for there investment because anybody who has made up there mind to invest on Bitcoin is not supposed to get too much attached with getting or wining a jackpot because there is a huge difference from a short term profit and long term profit because is obvious Long term will always supersede the short term.

What @ livingfree actually meant by jackpot is, when Bitcoin happens to experience a good price increase within the period an investor buys a certain amount. It's just like purchasing Bitcoin today at a price of $57K, and it went up to $67K the following week. To my best understanding, that's what I think he was trying to say.

And to add to what @ livingfree had said. I think it takes discipline to stick with the objectives and goals of Bitcoin investment. Because from a natural human perspective, if an investor gets/sees the price of Bitcoin rising to a very good level within a short period of making some purchases, there must surely be some element of thought that compels the investor to selling. I won't really call it greed. It's just the natural human nature to change with certain things around them. This is what makes us different from robots, that are designed to follow simple instructions.

So even if an investor has the objective of accumulating a certain amount on a weekly basis over a number of years and aim to meet a specific target by the end of that period, it will definitely require discipline to achieve these goals, because Bitcoin price increase can be very tempting. So I will continue to encourage all investors to have objectives and goals, and most especially have other sources of income that won't get us too attached to our investment because we already have something we can survive on.