Most newbies don’t always have proper knowledge about bitcoin investment before they go into it. When bitcoin price is dropping, there is no way you can stop newbies from panicking, they will definitely be scared, even if you explain to them that they should keep on holding, and bitcoin price is going to bounce back, most of them won’t listen, some of them will end up selling, but with time they will understand how things work. Similar thing happened to me when I started investing in bitcoin, but with time I got to know how things work.
The issue of newbies always being in a rush to invest without having the basic knowldge of Bitcoin seems to happen over and over again because they get into Bitcoin with the mentality of getting rich quick rather than giving trust to what they are buying into. They are curious to see result not curious to learn and what to do to see positive result. What they fail to understand is that, investing in bitcoin is just about putting your money and watching the price on a daily basis, whether it increases or decreases. Its more about understand the fundamentals and principle to what makes it different from other asset worth investing.
Basic knowledge is important for newbies that wants to get into Bitcoin investment, it's essential to understand that it is a volatile asset that can dump and pump without any notice. Bitcoin is not a shitcoin so it's safe for a newbie to get into the investment without learning everything there is to know because they're in the right place. They can be buying and hodl then gradually increase their knowledge about how Bitcoin works, most importantly they should know that it has the potentials to rally after every dip and always reach ATH.
It's not necessary to always check where current price stands at everyday, it can be a distraction since you're not planning to sell on the short term. It's best to adopt DCA method and buy from your discretionary funds when the percentage of your income drops into it every week or month.