Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
Bitcoin is very volatile; you can buy Bitcoin today, and the price can drop in the next few minutes. This doesn't mean you have lost the value of your Bitcoin or that the price will continue to fall and won't rise again. You have to understand volatility before investing in Bitcoin. If you don't understand it, you will always have problems with when to buy Bitcoin and when to sell. There is no perfect time to buy Bitcoin; you can always buy Bitcoin at any time, and if you do, you need to hold it for the long term. If you have made a good profit while holding, it is up to you to decide when to sell.
One of the major reasons why some people are scared of investing in bitcoin is because it is very volatile; this has been the reason why even when you introduce bitcoin to some people, even when they understand, they will not want to invest because they don't want to lose their money when investing; some people don't want to see what they invest their money on to be reducing in price, which is why some people still find it difficult to invest in bitcoin. There is nothing wrong with how bitcoin prices increase and fall, this is the nature of bitcoin, and if they continue to think about it, they will be unable to own a single bitcoin in the future.
One of the things needed before investing in bitcoin is trust and patience, as a beginner, if you don't trust what you are doing by investing in bitcoin, you will always doubt yourself and it will affect you; patience is very important in bitcoin because when the price drops, you will consider selling your bitcoin, which will affect your bitcoin journey. The most important thing to remember is that you should never use all of your savings to buy bitcoin in order to make a quick profit, instead, invest what you can afford and retain for a long time.