I follow these three things for Bitcoin investment, which is a revolutionary step in Bitcoin investment.
Knowledge, patience and courage play a very important role in investing in any cryptocurrency, not just Bitcoin.
Bitcoin is a volatile market, so I guess if we review it with a little importance, we can be successful through these three steps.
Knowledge: In the cryptocurrency world or crypto market, Bitcoin is a topic that is creating a stir in the world. Recently, it is being considered as the center of discussion at all political, economic, and social levels. Therefore, we need to expand our knowledge in such a way that we know about the Bitcoin market type and its technology and invest by understanding the market fluctuations and (volatility) i.e. instability.
Patience: Bitcoin is volatile and the market can fluctuate, investors need to review these issues patiently and prudently. Short-term investments can cause loss of money, so you may have to be patient and make long-term savings decisions. This long-term savings can bring you the right results.
Courage: Investors should move forward with courage without fear of market decline or crisis and make decisions based on accurate information and invest in that light. If you invest wisely without taking excessive risks, you will achievement success with success.
I think that if you follow these steps, there will be no obstacle in preparing yourself for Bitcoin investment. Above all, it is desirable to prepare yourself completely for Bitcoin investment and have a long-term mindset.
OP I agree with your point most especially that general knowledge of bitcoin you emphasizing about but I think is not all about general knowledge or an overview regarding to bitcoin,but as a newbie who juz venture into crypto space,i think it is better to know basic knowledge about bitcoin like the ups and downs of the market,(i.e market movements), the volatility nature, and the investment plans that’s recommendable.
Yes, patience and courage is needed because of market fluctuations,atimes crypto market do misbehaving but if you were acquainted with the market movements then exercise patience,that means you’ve automatically develop a thick skin already,being certain with positivity that in the long run market must definitely move your direction,and you’ll leave the market with massive profits.
Then, courage keep you going in the market,never lose hope easily because it is not over until it is over. That’s what cryptocurrency teaches us,and as well open our understanding more.
Many new investors may confuse Bitcoin and Key Cryptocurrency when they hear the word cryptocurrency. I don't think it's right to lump Bitcoin with Cryptocurrency. Because there are many coins in the crypto market, if I just say cryptocurrency, a new investor may get confused. And Key will not be able to understand the difference between Bitcoin and Altcoin.
Bitcoin is a very volatile market. No one can ever say for sure that long-term investment will yield profit. The risk in long-term investment is much lower than in short-term investment. And in long-term investment, there is no need to worry too much about small market fluctuations.