Investing in cryptocurrencies is in itself a high-risk, high-reward endeavour and hence should be approached with enough knowledge and caution although sometimes one can be unfortunate regardless of the amount of knowledge gained due to the upturn of events in the crypto market. In purchasing crypto currency depending on your goals (short-term term or long-term), for short-term that is buying when the market is low and selling when it later rises the risk involved is that the price may not rebound and hence continue to drop or remain stagnant thereby encountering losses while for long-term goal that is buying and holding regardless of the market trend the risk involved is that if the market experiences a prolonged downturn the value of the crypto might decrease significantly. So in all there is risk in cryptocurrency investments whether long-term or short-term.
You recommend buying crypto only when prices are low. It is the religion of crypto that coin prices go up and down every day. How do you find that time and price when it's the actual time to buy that coin?
Not only us but a new crypto user can blink and say buy coins low sell high or buy low coins and hold but which is the low price ?
To understand these things you need to learn technical analysis and have a very good knowledge of the crypto market and that is why it is true that trading is not for everyone and crypto cannot bring profit to everyone. If everyone could profit from crypto then everyone would use crypto as their main source of income
Fuck crypto...Bitcoin is the only asset and unique while shitcoins are duplicate of bitcoin
Trading is wrong for a new investor especially when we cannot predict the price movement of bitcoin. It becomes gambling and when you are gambling, you will lose in the long run. Investing in bitcoin is the only way out of poverty and increase your financial strength when you accumulate bitcoin gradually and build your investment bit by bit without stress by adopting the DCA strategy which enables you to buy bitcoin irrespective of the price of bitcoin at that moment.
If you do that with all seriousness an d commitment for 4-10 years or more, you will be able to have a good size of bitcoin in the long run as long as you are using the amount from your discretionary income that will not bring burden to you and you didn't sell a dime. You don't need no technical analysis or fundamental analysis to know when to buy bitcoin weekly or monthly. You just buy whenever your discretionary income is ready for the week with rest of mind.
Traders will end up with very little bitcoin in their portfolio in the long run because they were wasting their resources buying and selling wasting their time that they should have used to build and grow their bitcoin stash. Focus and build your bitcoin stash for your old age so that you don't suffer till death by looking for various meana to increase your income so that you can also increase the amount that you are using to DCA. Keep buying dont stop, and don't sell because bitcoin is more than what you think it is today.