Good day to all members of this great community! I previously asked questions and received helpful answers and advice from our elders to focus and engage with different boards to learn and grow. As a newbie, I'm eager to continue learning and have another question.
Which is I came across a news article stating that October is approaching and is a highly potential period for Bitcoin, suggesting it might be the right time to invest. My question is, is it advisable for a newbie who has never invested in Bitcoin before to take advantage of October too Are there any limitations or considerations I should be aware of as a newbie?
The source
https://azc.news/3-reasons-why-you-should-buy-bitcoin-in-october-id29080/For a newbie who has never heard of Bitcoin before and has no Bitcoin investment experience, it can be very risky to invest in Bitcoin be it October or any other month. Not just investment, there are different investment strategies, you have to follow that strategy.
A newbie will never understand how to invest so it is better to invest after gaining experience in that investment strategy. It is very difficult to predict when Bitcoin will rise and many may say Bitcoin can be easy to predict. Many have seen positive prospects for the month of October but we currently see that the market is filled with a lot of volatility in the month of October. It is very difficult to predict which direction the market will go from here. Perfect for any time investment but the most important thing is that the wallet must be very secure to keep the investment safe or else your investment can be stolen by anyone.
At first, I think the funds that would be used for the investment purpose matters as well because that would determine how the reaction of the investor would be towards their investment be it a newbie or a knowledgeable fellow. Using spare funds and investing for a long term would not be an issue if an investor decides to look towards crypto direction. However, this would allow for time the investor to learn more about the market trend and also there would be a calm and patience from the newbie investor as a result of the long term investment plans and also avail them the opportunity to learn more about crypto and its opportunities in the long run.