- Why is Bitcoin called digital gold?
- Does Bitcoin automatically go up and down or is it managed
by any company or person?
- If I buy Bitcoin, will it be more profitable to hold it for a long
time or for a short time?
- As a beginner, what should I do here? Should I slowly start
learning from here or should I try to invest along with learning?
Bitcoin is sometimes referred to as digital gold, as -just like gold- it is limited and can preserve value throughout time. Which makes it limited; there are only ever going to be 21 million Bitcoins much like gold.
It is not controlled by any company or individual in terms of price It varies up and down depending on supply and demand, investor sentiment, news and world events. People cannot manage it fully, which makes it attractive.
Contrary to the popular opinion that claims that short-term trading is risky and long-term holding is profitable, both are risky and rewarding. Short-term trading is also possible, and it can be a profitable strategy in case you have a good idea of what is going on in the market and you are cautious.
Learning to make a living with Dad and Lefty is best as a first-timer. Do some research, follow reputable sources, and the dangers of investing real money are known before investing. As you become more comfortable, then it is possible to start small and test it out slowly, in the same manner, you are able to keep learning. Cryptocurrency Knowledge is the best form of protection.