However, the prerequisite for investing in Bitcoin is that you must have sufficient patience as an investor and trust the market.
What do you need patience for as an investor and how does it become a prerequisite? You mean patience for the market to come down so you can buy low and sell high just like traders do? The last time I heard those words were when discussing trading which is patient for the market to get to your entry point or reach your selling point. Well, in long term investing, there are more important things than patient because you already know that you are in a long term game.
The prerequisite for long term investing in Bitcoin is having basic knowledge and setting up emergency fuds after meeting basic needs are the requirements for investing in Bitcoin for long term holding. If you go about Bitcoin investment the right way by fulfilling the basic necessary ingredients, you may not even need to mention patience in the sentence because the investment is for long term.
Patience is needed in investing so that after investing, the investor does not feel that he should sell his investment immediately. A new investor invests in Bitcoin and before he starts investing in Bitcoin, he starts investing with the idea that he will hold his investment for a long time. In this case, to hold his investment for a long time, he definitely needs enough patience as well as a trust in Bitcoin. But if the investor loses patience due to temporary changes in the market and if he gets excited and sells his investment, then the long-term investment plan will not be implemented. But only when I can accept all the market conditions and be patient, then it will be possible to hold my investment for a long time, but it is not possible and that is why patience is very important in investing.
Yes, you are right, I have said it before, if investment is a car, psychological knowledge is its brake. If there is only speed, accidents happen, and if there is only brakes, you cannot reach the destination. So it is important to master both together.
If your psychological knowledge is low, if you lose confidence at the slightest, then you will never be able to reach the final goal by investing.
You should always keep in mind that the more profit you want, the more risk you have to take.
If the price of your invested Bitcoin decreases after the investment, you should never be disappointed. I think then investing in Bitcoin brings a little more opportunity for investors. So you have to think in a way that this is not a matter of sadness for me, it is a good opportunity for me that now I can buy more Bitcoin.