Quote from: Sim_card on Today at 03:15:18 PM

Quote from: inearth on Today at 02:53:11 PM

Quote from: Spaceman1000$ on Today at 02:32:37 PM

That is why is always advisable to have emergency funds where you can easily access monies that you want for any urgency, not deeping your hands into your investment. however I feel some persons don't have the psychology of investment when it comes to Bitcoin especially during the early stages, as they see Bitcoin as one of those avenues they could put money after a little growth for a period of time they collect their capital and interest, not knowing that you have to be patient and see Bitcoin as an asset driven venture just like any other asset you have that grows in value over time.

I also agree, many investors look at investing in Bitcoin as a way to make short term profits, which is the first mistake a new investor makes. Bitcoin should be considered as a long-term asset, because in the short-term Bitcoin rises a lot, but it grows slowly over time, and this is something a new investor must understand, because newbies invest in Bitcoin with the intention of getting rich quickly, so they Many times losses are to be faced. Therefore, anyone who wants to invest in an asset like Bitcoin, must have a long-term perspective of 9-10 years. And keep a good eye on the financial situation, and have a good source of income, so that there is no shortage of funds in an emergency.

Is not because bitcoin price rises a lot in short term that makes it risky but because the price moves up and down without anyone knowing the direction that it would move to. It bevomed risky if you invest in a short-term because you can run at loss or sell without being able to buy back, because the price has pump above your selling price.

Long-term investment limit the risk in bitcoin volatile nature and gives you a long time to build and grow your bitcoin portfolio overtime without stressing yourself, so that you can have a good size of bitcoin in future, and make good profit from it since bitcoin is an asset that is still growing.

In fact, no one can determine which direction Bitcoin's price will move in the short term, the market situation can go in any direction at any time.

Suppose you bought Bitcoin for short-term holding when it was worth 90K, for example, you invested to hold it for 1 year. Now after 1 year, the price of Bitcoin can be 60K, that is, your purchase price is 90K, when you sell it after 1 year, the price is 60K, then the sale price is much lower than your purchase price, that is, you will suffer a big loss at that time.

But if you invest in Bitcoin using DCA for a long time, there will be no risk, but you will be able to make a better profit, just like if we calculate that if an investor has been investing only $20 per week in Bitcoin through DCA for 5 years ago, what will be his profit now:

Then his total investment would be $5,220, and by investing $5,220, his current portfolio would be $15,614, meaning he has already made a profit of 199.13%.

Usually we know long-term investment as a long period of 8-10 years or more, so those who have been investing in DCA for the past 5 years or more, think about how much profit they are going to make in the next 5 years.

So those who invest in DCA for the long term will definitely be able to make a good profit. So if you are patient and invest for the long term, you will definitely achieve life-changing success.