You are absolutely right. The main principle of investing in Bitcoin is responsible investing. some people greedily invest money that can be used for their urgent needs, which is a completely wrong strategy. a few important principles should be followed for successful investing. with proper planning, patience, and knowledge, it is possible to make a profitable Bitcoin investment, but the risk of loss is high if you are greedy.
There are some people who are greedy and invest money that is useful for their urgent needs, but this is not the policy of investing in Bitcoin.
Only invest money that you can afford to take risk Never invest money that is kept for your daily or urgent needs.
Plan for the long term Invest patiently without expecting quick profits, because the true power of Bitcoin is revealed in the long term.
with regular and moderate investment (DCA) strategy, invest gradually rather than investing large sums at once, so that the amount of risk does not increase due to market fluctuations.
Do proper knowledge and research Don't invest just on hearsay or greed, do your own research and make a market wise decision.
If you want to make your Bitcoin investment successful, you must first understand the basic principles of Bitcoin. The general characteristic of Bitcoin is that it will fluctuate a lot in the short term, but it will continue to increase in the long term. And as an investor, you must know these things, and you must invest accordingly.
Since you know that Bitcoin will fluctuate a lot in the short term, then how do you invest for short-term profits? That is why you must invest in Bitcoin with a long-term perspective. You must understand the risks of Bitcoin investment well, and you must invest with money according to your ability to take that risk.
We know very well that the price of Bitcoin will increase in the long term, but even after knowing this, if an investor does not accept this and invests for short-term purposes, then that investor is a big stupid. In fact, this short-term greed is the biggest cause of loss in investment. They make hasty decisions in the hope of quick profits, and when the market falls, they panic and sell their holdings. And in both cases, they face huge losses.
Therefore, when it comes to Bitcoin investment, using the right strategy is very important. In case of using the wrong strategy, you can lose your wealth, so use the right strategy through proper research, and continue DCA responsibly, if you can maintain it in the long term, the chances of success are high.