Capital management is one of the most important skill everybody should have
Especially in the current world.
"Cut your coat according to your size " A strategy might work for another doesn't mean it would work for the other.
Capabilities should be understood first before investing in anything( not shitcoin) that can bring value.
Don't invest amount that would cloud your judgement all at once
Go steady
And build a foundation around your capacity.
"Invest what you can afford to lose" is pretty basic when it comes to investments, but sometimes I don’t follow that strictly because I’m very confident in betting my future on Bitcoin. For me, it’s all about long-term investment, adding little by little until I reach my goal. I don’t focus on the price much, so I stay relaxed, even during bullish runs. I’ve learned to control my emotions, and even when the market turns bearish, it doesn’t faze me at all.
No this is a wrong advise because if I know I will lose the money, I will never invest it! This statement sound like fud, a way of amplifying the risk in Bitcoin investment. Tell me, how do people lose money in Bitcoin investment? If you can be sincere with this answer, you will realize that most people who lose money in Bitcoin are those who invest today and are already looking to sell the next day; these are not investors but traders. Those who invest in Bitcoin for long term holding rarely make losses. This does not mean that there is no risk in Bitcoin investment. There is risk but it is not as saying that I must invest what I can afford to lose in an asset like Bitcoin that I know have come to stay and is already gaining more acceptance daily. Instead of this statement, let us try and put it the right way which is to encourage people to invest amount that can afford to hold for a some years like 4-10 years which is generally suggested in this thread. This also agree with the records that Bitcoin have been making a new ATH every 4 years which is seen as the market cycle of Bitcoin so any investment kept for at least 4 years is bound to generate profits other things being equal.