Although many people say that this hope is highly unlikely what is clear is that as long as we are working to increase our confidence over time that Bitcoin will be a crucial asset for our future there's no need to listen to what others say. When we become people who understand and comprehend the promise Bitcoin offers investors our confidence will continue to improve. This becomes our guideline for what we will have for our future. Having assets in the form of the amount of Bitcoin we have held over several years will certainly make it a highly speculative asset.
Many people still comment and think that Bitcoin is risky, speculative, uncertain, and will even lose its value in the future. These cannot be dismissed in a word. Because nothing is guaranteed. But Bitcoin has things like scarcity, decentralization, security, and playing a big role against inflation. we will gradually build trust, but distrust will not disappear completely. For this reason, we should keep a balance mindset when investing in Bitcoin. We have to accept that it is risky and move forward. And it is very important to have discretionary income, back up fund, and long term mindset when investing. Keep one thing in mind, if you lose after investing in Bitcoin, you will lose a maximum of 100%. All your funds can be lost. But if you think about profit, Bitcoin has the ability and possibility to give you 2x, 3x, 5x, 7x, and even 10x+ profit.
There's no need to know what will happen for example in the next few years. What's clear is that we continue to strive to implement our activities based on our understanding. Predicting prices is not our responsibility. However we must have our own knowledge of every market event to avoid making mistakes in our future decisions. Another reason is that we have the assets we hold so when we understand market conditions we won't be left behind. Essentially we hope to maintain our confidence and be able to experience the benefits of having a certain amount of assets. We can sell it at a price that may be in accordance with our expectations.
It is not possible to predict what the price of Bitcoin will be in the future. Therefore, it is best not to depend on price predictions in our investment. Our investment should depend on our income and financial situation. Where as if we invest systematically according to proper planning, there will be no need for price prediction and market timing. And we should not create a mindset by mixing Bitcoin with all types of assets. Bitcoin is an asset whose price is very volatile, but has the potential for good profit in the long term. Therefore, it is important to focus on long term DCA without relying on price predictions in the beginning and not focusing too much on hold and sell.
