Quote from: Grace333 on Today at 08:48:20 AM

Quote from: Finebone on Today at 08:36:05 AM

As a bitcoin investor, your don't need to understand any market strategies before you start your Bitcoin investment, those are for traders, not investors like us.
What you just need is the basic knowledge on Bitcoin and how to go about your accumulation, and once you have your discretionary income in place, you are good to start, while investing you can seek further knowledge on Bitcoin and how to develop a strong holding hands, like having an emergency and reserve funds, but analyzing or understanding market strategies are not for investors like us.

But I feel like having a bit of market understanding still plays a role even for investors. Yeah, we might not need deep trading strategies or complex chart analysis like traders do, but knowing basic market cycles or how Bitcoin reacts during certain periods helps a lot when accumulating and DCA.

It’s not as if having these knowledge is bad or that the knowledge isn’t important for an investor, sure it could be important to an Investor to aid their journey but the mistake that most newbie investors make is that they often think that they need those knowledge to get started in their accumulation journey. For them, they may feel they need the preparedness, like mastering market trends and other complex skills so when they get started, they’ll know exactly the perfect time to buy. But the truth is that it’s only those with trader’s mindsets that are too concerned with timing the market. Newbie investors, especially those who haven’t undergone a single market cycle should be more concerned about sticking to consistent accumulation and hodling through a few market cycles, because that’s the best way to get actually build your confidence, gain the knowledge you actually need and maybe along the line you can decide to reevaluate your position and then make any necessary adjustments if the need be. But for a start, the most important thing is the basic understanding about Bitcoin and making sure you’ve got discretionary income, and then you can start immediately without further delays.