Are these your ideas Moskalfa Goodboy ? or did you get them from somewhere?
Do you apply these concepts to your own investing? What's your investing experience?
Do you know the difference between bitcoin and crypto and/or other traditional investments?
My advice concerns not just BTC but crypto investing in general.
Your framing the matter like that causes me to consider that you might not know the differences... There are difference, and different ways that you might invest.. to the extent that crypto is even a category because investing in "crypto" depends on what kind of piece of shit project that you are investing into and what might be your investment thesis for such largely likely piece of shit scam.
Bitcoin is a different story as compared to both crypto and as compared with various traditional investment asset classes, too.
It consists of tiny things but they are more helpful than may seem at first:
- Stop obsessively checking charts every 5 minutes
How would you know if people are obsessed? And what is the reason to NOT check the price/charts every 5 minutes? Would it matter on what the person might be doing?
- Zoom out the charts (any time period several years ago is always much lower than today)
Not necessarily true. It depends on what you are talking about.. You cannot just expect that all investments are going to go up in the long term whether we are talking about bitcoin, something like crypto.. whatever the fuck that means.. maybe something like shitcoins, shitcoin related projects?) or traditional investments. There's some need to have some understandings regarding what your investment thesis might be in regards to various investments, but then also it likely would help to figure out what stage of investment portfolio building a person might be too.
- Be tolerant of losses (in psychology, loss aversion is when the response to losses is stronger than the response to the respective wins)
Sure that's a general principle that applies when a person is engaging in investing based on expectations that the fundamentals of whatever they are investing into are generally strong on a long term basis... does not apply to all assets.. but it may apply to bitcoin, but I would not assume it to apply to shitcoins, and it may or may not apply to other traditional investments either.. just depending on which one we might be talking about.
- Study your macropsychology (ultimately, it's never about cryptocurrency. It’s about your psychology that is the cornerstone of everything)
Yes.. I would become a psycho if were to be investing into shitcoins. Now if you are referring to bitcoin, then that might be a different story, and it is best to attempt to set up your investment strategies in ways in order that you do not become emotional about it, or you figure ways to lessen the likelihood that you would become emotional.. but in any asset that has potentially high volatility, including bitcoin, then it is best to both account for the possible volatility and to set up your investment strategy in ways that attempt to account for possible extremes in volatility.. maybe easier said than done, but as a general principle, there are techniques to be able to attempt to lessen becoming overly emotional about investments, such as bitcoin, but it likely cannot be completely eliminated unless we were to transform from being human toward becoming robots.
- Do not quit the game - go deeper (the outstanding projects of the next bull cycle will be launched in the depths of this bear cycle)
Why? Why is there a need to explore projects? We have bitcoin? what other projects do we need to explore?
Are you thinking about researching a whole bunch of crap projects, hoping to find a gem and then getting in on the ground floor of some shitcoin pump and dump that might launch?
Does anybody got time for that nonsense?
Why not just focus on bitcoin.. Bitcoin seems to be amongst the best of asymmetric bets that have ever been broadly available, and it is likely ongoingly involved in the largest wealth transfer that has eve happened.. So why go beyond bitcoin? Are you suggesting that there might be a need (or wisdom) in terms of going beyond bitcoin? That's the kind of nonsense that shitcoin pumpers like to talk about on a fairly persistent basis.
Also, please do not borrow money to invest in Bitcoin, and only invest what you can afford to lose.
This thing should be bare up on your mind always on which you should really be accepting the risk and dont ever consider on taking up some loan or borrowing money just for you to invest on bitcoin or other altcoins
You cant really be that having an assurance that you would be ending up on positive plus there's no way that you could really able to know on when you would be making profits which means you cant determine
on when you would be needing up to pay those loans.
If you do have some money set aside then its better to make investment out of it.If not then you dont have any options but to take loan but you should really make
yourself responsible on paying on those due date.
If you are able to set up the terms of the loan, then you are able to know everything about it, and you can attempt to figure out if it is a good idea to enter into a loan or not.
For example, if you are able to get a loan that is a few percentage per year (APY), and you pay off the interest only or interest and some of the principle over 7 years or longer and you have a balloon payment in the end, then that would be a pretty good loan to take if you know how to invest it and if you know that you have income to pay off the loan and/or other sources besides the thing that you are investing into. With something like bitcoin, it may even be o.k. to presume that you would be able to pay it off after 7 years with bitcoin proceeds. People should be able to weigh all of these factors, so it depends on what kind of loan, and what is the persons cashflow to be able to service the loan during its terms. My main point is it is not automatically a bad idea to use debt to invest into something like bitcoin or any other investment, as long as you are able to weigh the various factors and to figure out that it is better to take the loan than to not take the loan. I will agree that some loans are oppressive and they should not be taken out, so the devil is in the details whether it would be a good idea to take a loan that you believe has good terms relative to your overall financial situation.