Bitcoin Forum

When you spend more time in Bitcoin market, you will read more news about this market and Bitcoin. You will read many criticism or just hilarious and jealous comment that Bitcoin investors got profit because they were lucky.

In this thread, I simply give you two charts of Bitcoin and Gold.

Let me emphasize, it is not a comparison about Bitcoin and Gold, but my intention is to share a fact that intelligent investors got profit by their intelligent knowledge and decisions for investments, then good capital management. They did not get profit simply because of luckiness. Their profit did not come to them like airdrops without any knowledge and their own serious efforts with time.

See two charts and discover a fact that intelligent investors bravely buy in bear markets, when most serious tests on their belief and mentality. Price did not hold if there are not strong believers and investors. It's not luckiness for Bitcoin, Gold and their investors to hold price in bear markets and tested in many bear markets in history. Their cycles can be longer or shorter but you can see how psychology of market cycle works.

People say Bitcoin is too volatile but see the chart, and discover that Gold gets a correction about 40% and it needs about 10 years to have another bull run.

Each market has its own cycle and discover powerful effects of holding your bitcoins as you can see there.

• Bitcoin market is like other markets, has its cycle. Focus on its cycle! (https://bitcointalk.org/index.php?topic=5478408.0)
• HODL bitcoins, you can do it! Look at HODL camp map to build up strong hands (https://bitcointalk.org/index.php?topic=5479211.0)

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• Choose All to zoom out these charts
• Coindesk Bitcoin Price Index (https://www.marketwatch.com/investing/cryptocurrency/btcusd/charts?mod=mw_quote_advanced)
• Gold continuous contract (https://www.marketwatch.com/investing/future/gc00/charts?mod=mw_quote_advanced)

We know who .. :D

Well, Kudos to Bitcoin Maxis like Natalie Brunell ..

https://www.youtube.com/watch?v=PViqK_N2qIM (https://www.youtube.com/watch?v=PViqK_N2qIM)

Gemini Summarization:

“This video is a debate between Natalie Brunell, a Bitcoin enthusiast, and Peter Schiff, an economist who argues for gold. The debate is about whether Bitcoin or gold is a better investment.

Brunell argues that Bitcoin is a superior investment to gold because it is:

Not controlled by any one entity: Bitcoin is a decentralized currency, not controlled by any government or bank. This makes it immune to manipulation and seizure.
A hedge against inflation: Bitcoin's supply is capped, which means that inflation cannot erode its value over time.
Easier to store and transport: Bitcoin can be easily stored in a digital wallet and transported anywhere in the world.
Schiff argues that Bitcoin is a worse investment than gold because it is:

Volatile: The price of Bitcoin has fluctuated wildly in recent years.
Not backed by any intrinsic value: Bitcoin is a digital currency that is not backed by any physical asset.
A bubble: Schiff believes that the price of Bitcoin is currently in a bubble and that it is likely to crash in the future.
The video also discusses the recent rally in the price of gold. Schiff believes that gold is a good investment because it is a safe haven asset that tends to perform well during times of economic uncertainty. Brunell acknowledges that gold has a long history of being a valuable asset, but she believes that Bitcoin is a better long-term investment.

Overall, the video is a good overview of the debate between Bitcoin and gold as investment vehicles.”

BTC>

I argue with people who use the word lucky for early bitcoin investors or any bitcoin investor at all who has accumulated a lot of bitcoin over the years. If anyone is being very honest we would see that these bitcoin investors were in the public telling us to buy bitcoin when it was less than a dollar. For example, Davinci Jeremie, a YouTuber made a video in those early days telling the public to buy bitcoin when it was just a dollar. They have done their due diligence and had seen that in comparison to gold which is always a great asset to have, bitcoin beats it on some many factors. First being that while gold is very easily manipulated by the government and many institutions, bitcoin is resistant to such manipulation. And that while gold has been inexistence, bitcoin which is still in its adoption phase has a better performance than it. The belief, conviction of these investors, their advocacy and willingness to take a chance on bitcoin even when it was in still its growing phase is responsible for their success and not luck.

In my early days, I read several documentaries and news about the volatility of Bitcoin; what I learnt was how skeptical most people were... ain't gonna lie, this Somehow made me retract - until the worst happened when I decided to HODL for the first time...
First of all, I made a wrong choice of wallet...Imagine HODLing some coins - out of doubtfulness and DES-peration - in a centralized exchange!
I enjoyed the last few weeks of the bull market and boooomm, everything reduced in half! What a terrible way to start..and yes, I bought and HODLed during the bull market.
Edit: I've learnt alot ever since I joined the forum, honestly  :)
Edit 2: I can say, that's the ugliest decisions I made way back.

Without proper knowledge and marker research, we shouldn't make any kind of investment decisions, either on Bitcoin or in real life. We all just know we can make money from the crypto market, but we don't know how to react according to the market. Without proper knowledge and research, we can't realise the scope of bitcoin investment. A wrong decision would lead to losing. We have to learn a lot about Bitcoin and how it works. Otherwise, we just have to gamble. I know many lucky investors got good profits from bitcoin investments, though they don't have the proper knowledge. But we need to keep in mind that we won't be lucky like them. We would need to understand everything and struggle a lot to gain from a bitcoin investment. 

I am sure many of those people deep down understand that early adopters and even people that bought their bitcoin before the price got so high did not got lucky, however they cannot really admit that we are smarter than they are, even if it is just on this aspect alone, because that will mean that they are not as smart as they think they are, so their way to cope with this is by disregarding the success of others and attribute it to just being on the right place at the right time.

The most important thing is to have fate on whatever investment they are making, what most investors does is that they won't care to exercise patient and then read positive news about their holding assets. Anyone who has been in Bitcoin space should be able to know that bitcoin is not a short time investment rather it will take years to get stronger and waxed greatly. So those investors who has foresight about bitcoin still have the strong belief that the price isn't gonna end in the current price level therefore they always looks for a way to keep accumulating as the year comes and passes bye wherefore, as they are giving their testimonies you would feels so jealous and jumped into investment without making adequate research.

But by volatile, what people mean is that it is unpredictable. And actually, it is (to some extent). For example we can see how Bitcoin went down to $60k in a very short time, that’s what they’re pointing at. However with Gold, the volatility isn’t that much so you can’t just see such sudden decrease (or increase) in value. Both of them are unique in their own ways. People who don’t want to take the risk with Bitcoin may want to settle with Gold.

Our own success will definitely come if we are not to eager to see it coming at the inappropriate time, but before that, we need to build confidence in ourself, this has to do with what we already knows, achieved, and are interested in learning more from, after having this believing kind of mindset, while the next bold step expected of us is to choose an investment plan we desire to make us of, and after all this were meant, then followed success.

You're right but that's also true for gold and other investments out there, you don't know if they're going to make you the money or not because it's difficult to predict anything anyway, I think what they mean by bitcoin being volatile is that it can't be controlled by other people and that they've got a difficult time on how they do it.

I don't get the people that are being jealous about bitcoin making profit for those that are investing on it, what did bitcoin do to you to generate or cultivate this animosity that you've got against those who invest them? It's really weird that people are like this, I guess those are the people that never got in too early in bitcoin and they think that it's too late for them and so they try their best to pull down people with them to the pit of despair that they're into. At this point, I don't think it's not worth our time to compare gold and bitcoin in terms of value because it's just so different and the freedom that we've got in bitcoin compared to gold is just too much that it's a disrespectful imho that we still compare it to gold.

But understand the actual point. I don’t think they say it because of jealously, it’s just the truth. Gold is also volatile, but you can’t compare it to Bitcoin in such context. Imagine how much Bitcoin flew this year, meanwhile Gold is taking it slow and steady. There are people who don’t like Bitcoin because of spontaneous price movements. Because in actual sense, if it can go up so fast, it CAN come down even faster. And certain people who don’t like the thought of that rather prefer to invest in assets like Gold.

There are many who started their Bitcoin experience with doubts. Even a number of strong Bitcoin advocates today didn't love Bitcoin at first sight. First impression doesn't last. They not only doubted Bitcoin, they thought or even concluded that Bitcoin is a scam, a Ponzi, just another internet creation, just one of those short-lived innovations, and so on.

Only after sitting down, spending long hours understanding it, would a person start to take Bitcoin a bit more seriously. And then you go down lower and lower down into the rabbit hole and that's when you invest and hodl. And you would be less bothered by the temporary rise and fall of the price believing that it has a bright future ahead.

Yes, I believe that each market has its own cycle. Each market also has its own conditions and features, each of which differs from the other, and the investor must understand any market in depth before investing, whether in Bitcoin, gold, or any other investment.

As for luck, it may be a game of luck with some of the few people who bought in the beginning simply because they like to buy new and strange things, but for most of those who achieved large profits in Bitcoin, this did not happen by chance or luck only, but rather as a result of deep research and study of the market and knowledge of the best times to buy and hold.

True, what is required in BTC is active participation and starting early, if you see the issue there will be a big correction before the halving and it will go up it is also normal for those who are already advanced. Indeed, if it is not familiar or familiar, there are fears of a decrease in investment value due to market volatility, but I just think simply that investing in BTC does not need to be technical once, it's just that what needs to be maintained is to store seeds well so that they are safe for time.

I highlighted the line above because I think you nailed it.
That's right, we should have this fate and of course, a deep narrow research to know what you invested.
People should learn that investing in crypto shouldn't be a quick scheme or it's not a quick fix, rather, it's a long-term commitment that requires perseverance and foresight.

All investments require knowledge and skills, even in a business, you should master that field before putting your money as an investment.
I remember one of the investment influencers said, "it's a journey that rewards those who tread wisely and diligently".

That is not the only way to invest wisely. Many people, very rich people even do DCA and yawn while buying in the bear markets. Trying to hit the lows to buy means trying to time the market, which we know is difficult to say the least and few people succeed. But I agree with the broad outlines of what you say. Long term vision, setting a plan and not getting scared of downturns are essential to a smart investment plan.

Are you sure what you're saying? How is Bitcoin resistant to manipulation? Even its capitalization is only 1/10 of gold's capitalization, if gold can also be manipulated then bitcoin is nothing. Just one fake news about war causes bitcoin to be dumped, if that's not manipulation then what is? The smaller and unregulated the financial market is, the easier it is to be manipulated, don't stubbornly deny it.

I also do not deny that many people have high professional qualifications, they have very good vision and can somewhat predict part of the future. But that doesn't mean they don't have luck on their path to success. Even Satoshi did not dare to say with 100% certainty that bitcoin will be successful, so no one is talented enough to know what the future of bitcoin will be like. Predictions are just predictions, there will be people who predict correctly and there will be people who predict wrong. If the prediction is wrong, they will be silent, but if the prediction is correct, they will scream and start showing everyone that they are good.

Do you see anyone who dares to affirm and swear that what they say will definitely happen, or do they always say it's just speculation and not investment advice? If it's not based on luck, then what is?

Knowledge is power and nobody is advised to make any investment without first actively studying the  subject of investment to get clarifications and genuine understanding. Its also worthy to note that most investments like bitcoin are timely and requires potential investors to be proactive in their study, some people have the habit of prolonging things unintentionally,  fueled by their laziness, they drag their feet in the research  process until they've missed out on the profits they should receive.

Take for example, bitcoin which is almost in the halving period, telling some investors about the profitability of bitcoin after  halving and encouraging them to buy and HODL. some investors will keep delaying with the excuse of researching on its nature until maybe many months when the prices have gone very high, which means no much profit from their investment. They can start generalizing that bitcoin investment isn't profitable, while their delayed action is the cause of their misfortune.

Ignorance is the reason why people think that Bitcoin investors are lucky. Most of them don't know the level of risk many Bitcoin investors take to see their investments grow over the years. These critics don't realize that many people have also lost money investing in the sector. In fact, I believe that there is nothing called luck in business because anyone who invests is taking a certain level of risk. How many of them will be able to wait for four to eight years for them to take profit from an investment, just a few. They assume that Bitcoin is just a money-doubling scheme where you put in money today and get rich tomorrow.

Bitcoin is for the people while Gold is for the government until you buy from them, unfortunately for them, they can't claim the owner of Bitcoin.

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A piece of land was detected by a farmer near my father's farmland and it was filled with Gold, I wish this never came out but to my surprise the rumor leaked out and just few days later the government people came and take over the land even while the farm paid fully for the land.

To me this is a day light robbery, but anyways, when a precious stone or gold is detected in a land it automatically belongs to the country, I did screamed out land saying they should try doing this same act with Bitcoin, I got angry but controlled myself later.

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Every Bitcoin dip is a blessing, if people don't see it this way they don't understand what they are investing their money on, I am used to longing for a last bear market so that I can keep buying, but it gets harder to buy when the price just keeps going up and up.

Risk is what matters the most, most people are not ready to take risk in getting what they want overtime. Instead they believe in quick profit, than to wait patiently and reap in future. Those early bitcoin investors were able to invest in bitcoin then because they took the risk to try something new.

Some people are adamant to try something new, and even till today some people still feel that bitcoin will not survive, and they don't want to invest now. In the next 10 years, these set of people will start saying that people who bought bitcoin at 65k are very lucky. Of which it is right before them now, and they are not buying bout doubting.

Besides ignorance, I think jealousy is a bigger reason why some people think investing and making money from bitcoin is luck. Many people do not want to admit that others are more successful than them, do not want to believe that they are better than themselves, so they will say that we rely on luck when investing in bitcoin.

Agree that the future is unpredictable, but if someone is willing to take risks and accept challenges, daring to step out of their comfort zone, they absolutely deserve to receive great rewards.

They tend to follow those successful guys and try to replicate their result no matter what they do. That's why obviously this people will fall into bad schemes especially if they didn't focus to build their selves to become knowledgeable on the career or activity they do. If they could just focus on their selves and try to clap on peoples achievement then focus on their personal growth for sure profit will come to them when their knowledge or skills will help them to excel to other people.

We should never rely on luck on investing on bitcoin since its unsustainable but rather we should focus to build up some great understanding on how certain things move since this could make our move strategize then possibly get more chant to have a good result.

But the importance of luck can't be denied.

"Focus on knowledge, build up belief, then investment plan, and pray for luck success will come."

All the "intelligent knowledge and decisions for investments" of a "intelligent investors" is to buy bitcoin (not necessarily at the lowest price in the last period), and "good capital management" is just to "just hodl". I'm exaggerating a little, but don't exaggerate the importance of investing in an asset that is constantly growing (in the long term), as if it were an extremely complex action. Even a schoolboy can handle this.

What kind of serious efforts are you talking about? About buying bitcoin at the first opportunity and selling it a few years later?

The only effort made is to force yourself to overcome the fear (of unsuccessful investments) and invest in bitcoin, and not continue to discuss the ups and downs from the outside, like most ordinary people.

These are not brave investors, but greedy ones. Their greed overshadows their fear.

Isn't bitcoin volatile? What's been going on in the last week, huh?

Bitcoin and gold are often compared to each other, but I would prefer to separate them into completely different asset classes. Gold is more of a “storehouse of value”, and bitcoin a “tool for increasing value” (this is still the case for now).

In fact, all markets are interconnected, because the same money from the world economy “spins” in them, which “flows” from market to market as in “communicating vessels”.

Most people afraid of Bitcoin, while I see Bitcoin as an investment with the lowest risk with high rewards.

Savings, time deposit and ETFs will never beat inflation, holding them will make you poor.
Gold, only protect your wealth.
Stock, can hedge against inflation and give you good rewards if you choose the right company, but any business can fail and make you in lost.
Bitcoin, hedging against inflation and give you high rewards.

Bitcoin holders are people who know how to believe.  
In this situation, faith is not a matter related to religion, but the ability to make good decisions in the face of uncertainty and chaos.  Buying Bitcoin when its price was $1 is much more difficult than when its price was $50,000.  When the price of Bitcoin was just $1, people had huge doubts about whether this financial asset had any future.  At that time, there were certain technical difficulties with storing Bitcoin.  These difficulties were insignificant for people from the IT field with a technical education, but for people in the humanities they could create significant problems.  
It was faith, technical knowledge and open-mindedness that helped early investors buy and hold Bitcoin at a time when the price was still very low.
Old Bitcoin holders are an example for all of us.

I agree that there are better and worse times to invest in Bitcoin, and that there seem to be some sort of cycles here. But with its long-term growth, I also think it's not necessary to get into details and time will set things right. For example, buying at $17k at the end of 2017 can be seen as a mistake, but if a person simply waited for 3.5 years, that's almost 4x profit right there. As for gold, it's growing much slower, so I think it's a good alternative to fiat for savings because fiat loses value over time, but not a very lucrative investment opportunity.

That kind of attitude is actually not good. They should not look at the existence of Bitcoin in this industry as just luck; in fact, it is a matter of choice. There are many who say that they don't know anything about bitcoin, that it is expensive, a scam, not really helpful, or that it is just for getting rich.

But that's where they make a mistake, because if you only conduct proper research, for sure you will be like others who will also see this potential in the future for you to succeed.

Yeah, I agree with you because there are people who sold it when price barely was some dollars and there are people who didn't sell it until it reached some 10 thousands. Luck plays its role, I can't deny that because there are some other good projects that never reached as big light as Bitcoin did but in overall, it really takes dedication and intelligence to hold Bitcoin for so long.

It's not 100% true. People who were holding Bitcoins, got free Bitcoin Cash airdrops and BCH was worth $1000 back then.

Bitcoin is volatile but in a good way, the price always goes UP.

This is an excellent post that contains everything you need to understand that no success happens by accident. The presence of many qualities in people who successfully own Bitcoins, such as patience, endurance, and good experience, will naturally lead to success. This can be equated to any successful business, because only step by step does a person become more competent in those areas where he is trying to develop his business. If we talk about haste, then in a hurry thousands of stupid mistakes are made, and where people do not learn from mistakes, they get very bitter experiences and conclusions that only the lucky ones are lucky with Bitcoin.

Knowledge, self-confidence, and faith are somewhat important in investing in Bitcoin.
As I remember my early days in crypto, it was really disappointing when you didn't know what to do especially in the time of market corrections. We never know exactly how to position ourselves in different market conditions which I could say is that having knowledge is more advantageous than just guessing. We can't rely on our future and our investment in luck rather than being guided with a plan, faith with our investment, and confidence. It was useless to get into the war without proper planning, much more when it talks about money and investment.

DCA is the best and most simple investment plan here in crypto

That's why patience and perseverance are a must for Bitcoin investors because it is not like any other investment in other industries because of its volatility and constant changes of its prices from higher to lower and mostly we all know, it's going low until bull runs after bitcoin halvings. other people cannot seem to understand that because they are not used to it and they just like to get profit quickly which not gonna come as easy as they think rather it takes time and some other occurrence like halvings and positive stuff in the crypto industry and to wait for that requires a great amount of patience because you only not dealing with those scenarios, you also need to deal with negativity surrounding it caused by hostile groups against Bitcoin.

They aren’t lucky unless they were given bitcoin for free lol. Even then whatever they do with that bitcoin would be result of their hard work from extensive research and possibly stressful decision making.

Bitcoin isn’t just about putting in money and then letting it grow over time which a lot of people get wrong. It is a constant process of making the right or best possible decisions

One thing I find out about the reason why some people fails in their investments is fear and lack of proper knowledge on how to apply the right concept in order to achieve a favourable result. Knowledge is power but until you get the right knowledge and apply it right, then your knowledge may not give you that power you desire. A lot of times, investors always feels that the market is all about luck, for sure luck is included but how can you be lucky when you don't apply the right investments practices that will enhance your knowledge about the right approach to manage your investments.

Most successful investors today didn't just jump out from no where and became successful but it took them time, resources, money and they developed quality time to gain the right knowledge and also applied the basic investment strategy before they were able to become genius. Success cannot be achieved on a bed of rose but your determination to succeed will acquaint you with the right knowledge to be applied in other to have successful path.

Knowledge is important if it is not based on this, our investment plan will lead to the wrong because at the end it is just a guess without doing any analysis because they themselves do not have knowledge as the basic science.

Comparing Bitcoin and Gold is quite different in terms of volatility, well now there are still many people who believe that gold is the most stable asset the majority of those who do not know the real investment will know that gold is a safe asset that will not go down significantly but takes a long time to go up so when it goes down the recovery is also long.

In contrast, bitcoin has a 4-year cycle where this is what to look forward to, the price has always reached a record for the last 4 cycles, so this is the hope of new investors to enter and invest there, of course this all requires knowledge and analysis with the skills you have.

Peter Schiff is funny with his words in the debate on television and he is one of pro-anti-Bitcoin. After many years, many chances missed, he still is very anti-Bitcoin. Does he regret anything, only he knows about it.

Luckiness has its role but is not decisive. If years ago like in 2009, 2010 or 2011, you knew about Bitcoin by any chance, it is lucky. Not all people were lucky enough to be exposed to Bitcoin in its early years.

However what you do after first exposure, is no longer luckiness but it depends on your thinking, belief in future of Bitcoin and your investment action to turn it to profit or fortune years later.

From knowing about strategy to get profit to actually apply that strategy with good discipline and harvest profit for your investment, there are many barriers a long the adventure.

With people who invested in Bitcoin, gambled in Bitcoin in early years, they need to have very strong belief to hold their bitcoins many years. They need to learn fundamentals about Bitcoin private key and are carefully enough to do good and usable backups.

Real power comes from market understanding. Bitcoin isnt lottery tickets. They've done their homework and understand economic cycles to make this strategic play. Those charts you show? Real investors see beyond red. Bear markets offer opportunity for the prepared. Like in business, winners in this game detect trendlines and act when others pause. This is economic intelligence, not luck.

Bitcoin, like gold, tests faith. However, its hardiness distinguishes it. History shows it recovers stronger. Its a fresh approach to money and investment, not just an asset. This is about knowing and controlling the traditional system's shortcomings. Those that get it are creating a future on a new currency, not just a fast cash.

That is why knowledge is always powerful,  knowledge we give you what even your money can't give you. You can have money and decides to trade or invest cryptocurrency but if their is no good knowledge all the money that is is invested can just go as waste. Knowledge is everything one needs to stay relevant in the market, this is what every trader and investors needs to consider as the first thing. Planning to get knowledge first by learning will bring more profit  but when it is neglected and people think of making money quickly,  it won't bring any good instead just waste of money.

Luck is always important for anything, not only for Bitcoin.

Buy and sell within a range of price, you will invest well by buying around bottom range and taking profit around peak range.

If you approach the market like this for your investment, you will feel less stress and headache. You will not feel regret by missing a bottom price or an all time high because what you aim at is a range for entry and take profit.

If you spend money to invest, to get profit, you are greedy. It's clear but being greedy must co-exist with safety for your capital. If you can not keep your capital safe, reduce risk to lose it, you will end with empty hands and nothing to do after that.

Did you read carefully?

I did not say Bitcoin is not volatile but I only wanted to say that even gold is volatile, 40% correction is not small but gold price changes slowly and people did not realize it. Crash in Covid-19 announcement is another example on volatility of gold. Stocks are volatile too but if people say Bitcoin is volatile but don't say the same for gold or stocks, they want to mislead newbies.

Luck will also play a role however investment is different from gambling wherein one's decision making determines profit or success. Decision making on the other hand can be improved through learning or having knowledge of what investment you will be engaging yourself with. In Bitcoin, volatility is obviously present. If you won't be knowldgeable of how prices work,  how events affect the market price, and how market prices move, you'd just panic and make things worse. Gaining knowledge is improving your foundation to make things better in longer perspective or point of view. There is a reason why patience will be always needed, reason why there are issues at this date still, and misconceptions. The only way to deal with is to enrich your knowledge which should be a must especially if you value your money.

“only invest what you can lose”, I think you are very familiar with this, and I think there is no asset that is both safe and can bring high returns, including bitcoin.

Just because we are investing in bitcoin and on the bitcoin forum, it does not mean we make unfair judgments. To me everything is proportional, the higher the profit, the higher the risk. If bitcoin really has lower risk than gold or real estate, stocks and brings higher profits. So why shouldn't you or I, everyone, sell all your assets to invest in bitcoin? To put it more interestingly, sell your 1 house and invest in bitcoin, and you will definitely get 10 houses if bitcoin gives you x10 profit, LOL. Bitcoin may be safer than altcoins but still cannot compare to gold or real estate.

People who invest in altcoins with their lack of utility and reliance on hype, may depend on luck, i believe to make money from altcoins you have to be lucky, especially luck in buying at the right time.

However, you don't have to rely on luck when buying BTC, it is useful so you know the price can only correct or dump, but it is going to pump again. Now all you have to do is get your investment strategy correctly, stick to it and be willing to be patient, so many people who make mistakes after buying BTC are the short term investors, they want profit fast, so they make the wrong choices.

Learning to gain knowledge, practice to gain experience. Together they will help an investor to have better understanding about the market, price cycle, psychology cycle and fud cycle so that they will become stronger with time. When they have these factors better, they will be less likely vulnerable to fud and will feel more comfortable with investment in Bitcoin.

Important to note that they must have good financial and capital management for their investment and their life beyond investment too.

Volatility is what traders and investors need. Without volatility, we have a dead market.

I can't believe and understand what people see bitcoin as...Since they find it difficult to invest and trust bitcoin because they lack knowledge.That's why they say knowledge is power.
You know its disappointing to see and hear the shits been said about bitcoin,they just wake and assimilate whatever information they receive from other people that despises bitcoin so much and the Internet.

Instead they research about the positive impacts,they'll continue to feed themselves with illegal feedback.Investing in Bitcoin cryptocurrency has its pros and cons and like every other currency,there's advantage and disadvantages.Meanwhile,bitcoin still remains a fast growing assets and its going to be hard to eliminate the currency.

The reason why some people believe more in Gold than Bitcoin is because they see less volatility in it and there is no doubt about that. If Gold witnesses a bull run once in a decade then it also gets a 40% correction in a long time and doesn't have steep drops like Bitcoin or other cryptocurrencies and even if it does, its investors stay confident because they know it's not going anywhere as it has an existence and has been around for centuries while for Bitcoin, some people don't think this way because of it being only digitally available.

However, you are right that people who invest in them when they are in the bear market do it with a lot of courage and belief because it's not easy to keep holding onto your assets if you see your investment losing value every now and then but if you still keep holding, you deserve what you get at the end.

It is not even easy to be lucky when dealing with altcoins,  most times you would want to try to invest in some altcoins but the truth is that it won't give you what you really want. The way people rate altcoins when it comes to profit is not even what it is. Investing in altcoins is just waste of time and I think people are just being deceive of its low value thinking profit can be earned in a short time.  Investing in altcoins is not worth it at all, if you are not you may even end up with a scam coin.

Bitcoin is a good coin to invest in but people found it difficult because they lack the patience to hodl bitcoin,  instead they prefer altcoins because serious desperation of making money so quick.

The decentralized nature of bitcoin works against it in this case, since governments can always pay the media to exalt fiat as much as they can, while at the same time they throw mud at bitcoin and its reputation, so many people simply believe what they are told and think about bitcoin not only as a poor investment, even if the evidence shows it is the opposite, but they also think about it as a dangerous technology, however I recommend to you to not care too much about it, as at the end the ones that are missing the chance of a lifetime are them and not us.

Patience is one of the most important things in investing. In order to be patient, the money remaining from the amount you invested must be sufficient for you to continue your life. Sometimes, even if there is patience, investments can be cashed out before reaching their goal because the necessary resources are not available.

We cannot ignore the luck factor in altcoins, but it is also important to analyze the movements of the market. Many altcoin investors invest wherever the hype is. This causes the team or path of the altcoins to be invisible. So, as you said, we cannot say that there is no relationship between the luck factor and making a profit.

Both gold and BTC require knowledge, and for you to achiev what you want in your investment, you need to acquire the knowledge so that it will be easy for you to achieve your goal, and through your knowledge you can believe in your investment because you know that if you sell your coins in the bull run, you will surely make a good profits.

Many people know that bull season use to come some time, for people to earn profits from their investment and to gather a huge amount of money  that will help them to buy BTC when bear season occur, which is the hand work of knowledge, it will help you to last long in your investment .

The knowledge will not allow you to ignore BTC and embrace altcoin in the market because BTC is the king among other cryptocurrencies in the market, and whenever the price of BTC is rising in the market other cryptocurrencies will be struggling to rise in the market.

Knowledge is a powerful tool that someone can use when it comes to deciding what investment is worth to venture into. Without it, would be hard to convince yourself in buying in any of these assets. This is why whether you want to hold some btc or gold, you need to do your own assessment also before keeping one of them or both in your vault.

Just take a very good example in btc - how can someone buy some satoshis if he has no knowledge in buying it? Or how to safely store it? This is why a lot of people are hesitant on this market because mainly of ignorance, not because they don't want it.

Some people are way too easy to influence and they often do not have any kind of independent thinking. They just follow anyone they think they should. Worse they follow someone who also has not much knowledge of investing. Being unprepared and not having enough knowledge about bitcoin or any cryptocurrency before diving in will surely leave you with losses.

Like they say “By failing to prepare, you are preparing to fail.”

Yup that is why I think the ability of investing does not come to everyone. Even if people say that if you really want it then there must be a way however we know that not everyone is on the same level of freedom when it comes to financial things.

Investment can make you wealthy but you should not sacrifice everything you have because there are still risks of losing you can not ignore.

While gaining profits from luck is the same as gambling, in investment this is not the case because capital, strategy and moments are very decisive.
Investment does not rely on luck but rather on knowledge applied in strategy. Bitcoin is indeed good for investment and it really depends on how we start and without investment capital it cannot be carried out.
Bitcoin's fluctuations are comparable and if people understand its journey then the risk can be minimized because bitcoin always has a repeating cycle, both when the price experiences a decline and in the process of improvement.

Not every investment can make you rich, so it's the wrong mindset to have when you are investing. Someone should think that they are going to get some profit from their investment but they shouldn't think that their investments are going to make them rich.

A lot of people enter the market with this mindset and this is why they invest their money in high-risk cryptocurrencies such as meme-coins and shitcoins because they believe they have the potential to provide them with a lot of profit in a short period but they ignore the fact that there are more chances of them losing the money.

So it's important to be vary of these facts when making investments.