To be honest investing is not something you just go into at first you have to have some certain principles you have to follow so that you won’t end up messing up the investment. There’s a big different between a trader from an investor. Traders usually focus on short term goals all they care about is how to make profits from the market waves .
While investors focus more on long term and in order for one to embark on such he or she have to make proper planning that will help them build their investment as time goes . The reason why some folks usually give up too early is because, they usually go into bitcoin investment with the wrong mindset thinking all they need is to hold bitcoin for a year or two and they are good enough to go, and the truth is that it doesn’t work that way you have to first build your bitcoin stash through accumulation.
If someone thinks that I have some money now, I will build a house with it, but it will take 2-1 years to do that, so I invest that money in crypto.
I would say this is a wrong step, if you do not have enough money, you do not need to invest in crypto.
You invest it in other sectors or keep it in the bank.
You need to plan long-term when holding crypto, especially Bitcoin.
For this, the amount of money left after your spending money should be invested in Bitcoin on a weekly, monthly or annual basis.
And in this way, you should make up your mind that you can hold the stored Bitcoin in any condition until you reach the final goal.
Firstly the word use here is bitcoin and not crypto, it might be as a result of misunderstanding but investing in crypto is risky. Indeed long term plan is require when dealing with bitcoin investment, setting a goal is same as setting target and for starters it’s possible to say invest with the available funds and as time goes you’ll get the money to build your portfolio gradually alongside your back up funds although not just starters but this applies to every investor. It’s actually a set back viewing bitcoin investment as only for the wealthy meanwhile few started their bitcoin journey with a little amount. Note, other short term investment might not be as profitable compared to bitcoin, I guess some fail to understand how bitcoin investment work for example a salary earner can decide to buy weekly after receiving payment, there’s always a problem yet a good budget can solve what ever problem regarding the investment target. For clarity purpose start your bitcoin journey before it’s too late because saving money using the bank system is considered as lose whereby the value depreciate, lastly if the funds is not stable don’t pressure your investment even if it takes more than 4 or 5 years to build your desired portfolio.