Akin to the saying that excess of everything is bad,
Too much of everything is indeed bad and we must be able to maintain a boundary or let let me put it this way that a limit to everything we are doing, if we don't want to risk losing our investment fund for nothing, we must be careful of the steps we take, the way we trade or invest, the time management as well as the risk factors all inclusive on whatever decision we are taking regarding bitcoin investment, it does not end up in making the first step, but taking the right path in doing so.
The Bitcoin market is very volatile. You can never tell whether the price of Bitcoin will increase or decrease in 10 minutes. There is a big difference between investing and trading. Investing is long-term, such as for your future, and trading is short-term. The risk in short-term investing is much higher than in long-term investing. In long-term investing, you do not have to worry about small ups and downs in the market. In terms of investing, you must have the right song about your wallet. You must have the right knowledge of financial management. Along with investing, you must have an emergency fund. An emergency fund is needed to protect your investment from unexpected financial disasters.
And with that those fast change of phase could those traders a loser especially if they don't know how to handle the situation. That's why I really don't like to deal with trading especially if we talk about Bitcoin since the volatility of market cause us an head ache especially if we can spot those possible best position to sell our Bitcoins. This is the reason that choosing long term is the best option to take since we don't need to worry about anything that might happen on the market and what we need to pay attention is to buy Bitcoin consistently.
Also for saying that they must have a right knowledge might confuse people and they dive into something that unnecessary. For that I can say that having a basic knowledge about Bitcoin is fine already since they could start buying Bitcoin since accumulating is actually easy to do. It became hard if you pay attention on any unimportant matters.