Basically many inexperienced investors lose confidence in themselves by constantly watching charts. By constantly monitoring the charts, they constantly observe the rise and fall in the price of Bitcoin. As a result, they doubt that the price of Bitcoin could fall further. But those who have properly reviewed the history of Bitcoin's price rise will not lose confidence in themselves or even be motivated to sell the investment. Investors should keep in mind that investing in Bitcoin is the safest and it will eventually grow to a much larger amount.
Recently the President of El Salvador, Nayib Bukele, said that,
🇸🇻 NAYIB BUKELE: "Stop looking at the chart and enjoy life. If you invested in Bitcoin your investment is safe and its value will grow a lot" 💯
https://x.com/TheBitcoinConf/status/1861782130860204116?t=-CgtY5ioDVc8gGBihvh7Dw&s=19For an investor, being immersed in the charts creates fear and anxiety about investing. For a long-term investor, volatile market conditions can lead to panic if he cannot control himself or is a new investor. There is nothing wrong with showing the charts if you can control yourself and trust in Bitcoin even after seeing the volatile conditions. Being immersed in the market after investing can be a hindrance to enjoying life and this is a fact.
Although I trust Bitcoin and I am a new investor. Sometimes the volatile market conditions scare me and ruin some enjoyable moments. That is why I try my best to stay away from the charts because I cannot control myself, as much as I say here that I have full confidence in Bitcoin but being a new investor, it is not easy for me to handle all the market conditions. But I am not so uncontrolled as to sell the investment, which is why I am staying in Bitcoin. Nowadays I rarely look at the charts and try to stay busy enjoying life.
You could say that looking at the charts makes you more experienced and smart about the markets, but it doesn't work for everyone. So I don't think it would be right advice to advise a newbie to focus on the charts.