Don't invest in Bitcoin because others are investing in Bitcoin

[Essential10]

It's best to do your research before making any investment, not just Bitcoin. I didn't find this forum when I invested in Bitcoin, but I didn't do much research on the value of Bitcoin, I just invested thinking that the value of Bitcoin will increase in the future. I mean I'm not investing in alt coins or meme coins here that I have to do extensive research. Did you ever think or research that Bitcoin will reach its peak price before it halves, but I didn't think it would. However, I think if you have a good amount of cash you can use a DCA method where you can continue to make an investment weekly to monthly, this way you will have the advantage of not having to worry about investing in bitcoins. That's why you don't have to wait when the price of Bitcoin drops before you invest all your money in it.

[bettercrypto]

When you want to invest in Bitcoin don't because people is investing in Bitcoin and you invest, I prefer taking my time to make a research before I invest on Bitcoin, Bitcoin invest is good but when you don't take your time to invest in Bitcoin then you will invest wrongly, the first time I invested I did not follow anyone step rather I do follow the research I made before I invest, some persons does not control emotions before they invest they follow a side news to invest on Bitcoin and that is why some of them do experience hard luck for their invest, in summary invest when you want to invest, don't follow the crowd but follow your instinct

Yes, I agree with what you said; it really shouldn't be because there are many people investing. You should provide confirmation as to why so many investors around the world are flocking to him. But if you don't know the reason why you invest in Bitcoin, it's not good, to be honest, in my opinion.

You should really invest because you know the reason and what potential it can give investors in the field of cryptocurrency. That's why others always
say to always do your own research.

[arjunmujay]

It's best to do your research before making any investment, not just Bitcoin. I didn't find this forum when I invested in Bitcoin, but I didn't do much research on the value of Bitcoin, I just invested thinking that the value of Bitcoin will increase in the future. I mean I'm not investing in alt coins or meme coins here that I have to do extensive research. Did you ever think or research that Bitcoin will reach its peak price before it halves, but I didn't think it would. However, I think if you have a good amount of cash you can use a DCA method where you can continue to make an investment weekly to monthly, this way you will have the advantage of not having to worry about investing in bitcoins. That's why you don't have to wait when the price of Bitcoin drops before you invest all your money in it.

You also need to remember, when investing in Bitcoin using DCA, an investor must also pay attention to their actual condition. This doesn't mean that you don't need to prepare emergency funds first by using DCA.
If that happens, your investment portfolio will be in chaos. Not only Bitcoin, all investment instruments such as the stock market will be damaged if you don't have emergency funds. Because Bitcoin's future is very good, that doesn't mean you shouldn't think about the risk of a fairly drastic price drop. be a smart investor

[dezoel]

I think there is a similar saying to this and it goes like " Don't do what others can do or are doing ". It may be because what they are doing are wrong. In crypto, we also have the term FOMO, which can be the same as that and we also been told that it's bad and we must not FOMO. What you acted when you are still starting is commendable OP because typically, a newbie is very curious and excited, so they just jump in the water quickly. They will only realized eventually that the water is deep and they will now start drowning.

There are still exceptional scenarios like for example we decided to follow our own instincts, when the other is more knowledgeable than us and does not mislead people.

[Kelvinid]

When you want to invest in Bitcoin don't because people is investing in Bitcoin and you invest, I prefer taking my time to make a research before I invest on Bitcoin, Bitcoin invest is good but when you don't take your time to invest in Bitcoin then you will invest wrongly, the first time I invested I did not follow anyone step rather I do follow the research I made before I invest, some persons does not control emotions before they invest they follow a side news to invest on Bitcoin and that is why some of them do experience hard luck for their invest, in summary invest when you want to invest, don't follow the crowd but follow your instinct

Don't invest if you are not ready because this is the main reason why old investors fail and lose their money as we can't invest blindly and are reliant on others, nobody helps us. So, therefore, help ourselves first to know the market more rather than rushing because in the end, we are still the ones who suffered the most, not those who told us. We act cautiously and become a responsible investor because this is the way it helps to reach our goals and succeed. We take a look at the early investor's experience and make it a reason why we should prepare more than what they did before.

[Dr.Osh]

when someone invests because of hype, then when the price goes down, and he gets a loss, then he will view the investment negatively, and usually spread FUD that is not true about it. However, there is now overwhelming evidence that many people who invest follow others. When other people make huge profits from bitcoin, they start trying it because they feel it is easy.
However, it will be better and wiser when we know what we are going to invest in rather than following other people. This will make us more prepared for the risks, and we will also have a mature strategy and consideration in buying and selling bitcoin.

[Mr. Magkaisa]

when someone invests because of hype, then when the price goes down, and he gets a loss, then he will view the investment negatively, and usually spread FUD that is not true about it. However, there is now overwhelming evidence that many people who invest follow others. When other people make huge profits from bitcoin, they start trying it because they feel it is easy.
However, it will be better and wiser when we know what we are going to invest in rather than following other people. This will make us more prepared for the risks, and we will also have a mature strategy and consideration in buying and selling bitcoin.

          -   There are many such types of investors in this field; most of them just get carried away by the hype, and when the hype ends, there will be a rug full or a gradual fall in the price of the coin. People like that often believe in getting rich quickly.

We should really invest in bitcoin or other crypto because we know its potential and it can help each of us in the crypto space industry. This is what we as all investors should be doing in something like this.

[Victorik]

That is true. I remember my first investment in BTC many years back, a friend actually persuaded me to invest in it. He literally did everything as I had zero idea what BTC was, but I didn't want to make him feel bad, so I obliged. I can tell you that today that investment was a complete waste. I couldn't retrieve my investment because what I investment is way below their minimum withdrawal. Meaning I can't withdraw it.
If I had taken time to understand their terms, probably that wouldn't have happened, but it did happened because I lacked the right information.

[Odusko]

When you want to invest in Bitcoin don't because people is investing in Bitcoin and you invest, I prefer taking my time to make a research before I invest on Bitcoin, Bitcoin invest is good but when you don't take your time to invest in Bitcoin then you will invest wrongly, the first time I invested I did not follow anyone step rather I do follow the research I made before I invest, some persons does not control emotions before they invest they follow a side news to invest on Bitcoin and that is why some of them do experience hard luck for their invest, in summary invest when you want to invest, don't follow the crowd but follow your instinct

Following other to make such investment decisions as related to high risk asset as bitcoin is quite out of the ordinary and unusual for those who already know the the risk associated with such decisions but a novice or newbies could make such a mistake since what they are after at that stage is profits and not minding to know how such investment works and how to go about it all they are interested in is the story told by those that bitcoin investment have favoard and they are telling they own success stories.so instead getting to know what are the risk and conditions to arrive at that stage of profitability that get carried away with the end result and at the end end up in frustration when they desire fails to come.

[Assface16678]

when someone invests because of hype, then when the price goes down, and he gets a loss, then he will view the investment negatively, and usually spread FUD that is not true about it. However, there is now overwhelming evidence that many people who invest follow others. When other people make huge profits from bitcoin, they start trying it because they feel it is easy.
However, it will be better and wiser when we know what we are going to invest in rather than following other people. This will make us more prepared for the risks, and we will also have a mature strategy and consideration in buying and selling bitcoin.

          -   There are many such types of investors in this field; most of them just get carried away by the hype, and when the hype ends, there will be a rug full or a gradual fall in the price of the coin. People like that often believe in getting rich quickly.

We should really invest in bitcoin or other crypto because we know its potential and it can help each of us in the crypto space industry. This is what we as all investors should be doing in something like this.

Well its not necessary that if you follow a trend the currency or investment will fall out, that why we have what we call "hype" some hype is worth to invest because it means that more hype more people will take interest and invest in a certain project or curremcy, butnof course the investor should do its part also, I mean if you are not just an investor that is only thinking is profit then you might be the one of the investors that follow a trend but still didnt earn just because they dont analyse thw market first or the project, investing is always requires knowledge, analyse and critical thinking before you enter it, in that way you will know how can you manage your invest so that it will be favorable to you, it will be profitable for you, Inalso prefer to look at a currency or project first before entering the hype because some hype or trend will only last for a weeks and then no more.

[Hypnosis00]

That is true. I remember my first investment in BTC many years back, a friend actually persuaded me to invest in it. He literally did everything as I had zero idea what BTC was, but I didn't want to make him feel bad, so I obliged. I can tell you that today that investment was a complete waste. I couldn't retrieve my investment because what I investment is way below their minimum withdrawal. Meaning I can't withdraw it.
If I had taken time to understand their terms, probably that wouldn't have happened, but it did happened because I lacked the right information.

That's it. People who invest having zero knowledge will end up in regret. Good thing that was just our problem because some individual had lost their money due to using the wrong wallet (fake) and scam sites.

The thing we have in our mind is not to rush from investing, we just do it once fully understand how it works and we believe in ourselves that we can do it alone. Whether you agree on me or not, that person who told you and encouraged you to invest will never take responsibility if ever you lose that is why you should know first how to take care of your money. And this is impossible if we don't have any idea about this and most it happens you sell in panic.

[livingfree]

That is true. I remember my first investment in BTC many years back, a friend actually persuaded me to invest in it. He literally did everything as I had zero idea what BTC was, but I didn't want to make him feel bad, so I obliged. I can tell you that today that investment was a complete waste. I couldn't retrieve my investment because what I investment is way below their minimum withdrawal. Meaning I can't withdraw it.
If I had taken time to understand their terms, probably that wouldn't have happened, but it did happened because I lacked the right information.

What does it mean that your "investment is way below the minimum withdrawal"? You invest on a platform and not with BTC I guess.

But going on with the details about investing just because others told you to do so. It's a wrong idea of investing, you invest because you have learned about it and carefully did your research before you've made decisions to invest.

Many still does it the wrong way and thinking of it as if they're going to gain even if they go to the shortcut way of investing in BTC or with any other cryptocurrencies.

[Mate2237]

You might invest along side with other people if you are interested. And all what you have to know or do is to know what you are investing in. You have to know the price you bought the coin at the moment and plan a day, a week or a year to sell your coins and when the time comes, and the price is still low then you extend the selling date to another time to see if the price will increase.

Bitcoin is not a coin that if you follow someone to invest then you will lose, I disagree with that but a careful plan can make you an happy investor among others. Always learn from your mistakes and from others. Always ask questions.

[Ben Barubal]

You might invest along side with other people if you are interested. And all what you have to know or do is to know what you are investing in. You have to know the price you bought the coin at the moment and plan a day, a week or a year to sell your coins and when the time comes, and the price is still low then you extend the selling date to another time to see if the price will increase.

Bitcoin is not a coin that if you follow someone to invest then you will lose, I disagree with that but a careful plan can make you an happy investor among others. Always learn from your mistakes and from others. Always ask questions.

     The problem is that most of the time, they don't have time to learn about the crypto they invest in because most of the community investors are already ahead of themselves and believe in it. And this type of person who invests immediately is immediately carried away by greed, so they can no longer control themselves.

     And when the time comes when the promises about Bitcoin are released, those who were just carried away by the hype with their excitement and trust in the person who just shared with them will start to get frustrated.

[Vinaa77]

When you want to invest in Bitcoin don't because people is investing in Bitcoin and you invest, I prefer taking my time to make a research before I invest on Bitcoin, Bitcoin invest is good but when you don't take your time to invest in Bitcoin then you will invest wrongly, the first time I invested I did not follow anyone step rather I do follow the research I made before I invest, some persons does not control emotions before they invest they follow a side news to invest on Bitcoin and that is why some of them do experience hard luck for their invest, in summary invest when you want to invest, don't follow the crowd but follow your instinct

Don't invest if you are not ready because this is the main reason why old investors fail and lose their money as we can't invest blindly and are reliant on others, nobody helps us. So, therefore, help ourselves first to know the market more rather than rushing because in the end, we are still the ones who suffered the most, not those who told us. We act cautiously and become a responsible investor because this is the way it helps to reach our goals and succeed. We take a look at the early investor's experience and make it a reason why we should prepare more than what they did before.

Dependent on other people in investing of course this is very detrimental to us in this case and we will continue to invest with little understanding of course this will lose the money we invest, understanding the market first before deciding to invest is of course very good and This will give us an advantage in investing, yes we can learn from the experiences that other people have had and this will be very useful and will reduce the losses we will incur.

[oktana]

True. I’ve seen people who are willing to invest their life earnings because someone is investing a lot of money but they fail to understand that the person who they follow their footsteps may have even more money as a backup plan. Just because it’s Bitcoin and has risen so unbelievable doesn’t mean it’s 100% safe for investment. If you must invest, know the risks, and do it at your own pace.

[ancafe]

When you want to invest in Bitcoin don't because people is investing in Bitcoin and you invest, I prefer taking my time to make a research before I invest on Bitcoin, Bitcoin invest is good but when you don't take your time to invest in Bitcoin then you will invest wrongly, the first time I invested I did not follow anyone step rather I do follow the research I made before I invest, some persons does not control emotions before they invest they follow a side news to invest on Bitcoin and that is why some of them do experience hard luck for their invest, in summary invest when you want to invest, don't follow the crowd but follow your instinct

We will never achieve success if we look at other people's success and instead invest based on our ability to carry it out. There are many people who are trapped by looking at other people when investing and they never understand the investment side correctly and in the end they will experience losses resulting from not knowing how to invest correctly. Bitcoin is indeed one of the best investments currently, but it requires knowledge to operate and if someone is not able to control emotions it will have a bad impact when the price is corrected badly.

Investing must be based on complete research and must know the journey of bitcoin to understand its side. There is no chance of achieving success when we copy other people's methods, but what we need to do is learn to run investments correctly before getting involved in it.

[malah]

True. I’ve seen people who are willing to invest their life earnings because someone is investing a lot of money but they fail to understand that the person who they follow their footsteps may have even more money as a backup plan. Just because it’s Bitcoin and has risen so unbelievable doesn’t mean it’s 100% safe for investment. If you must invest, know the risks, and do it at your own pace.

This is the danger of following what is trending and not doing research first. Many of them suffer losses because they are influenced in this way. Usually those who are affected are people who are new to the world of cryptocurrency and hope to make profits quickly and want to be proud of the results they get. So in the end it will only make it easy for us to be fooled by other people and end up losing the money we use for trading.

[zaim7413]

Doing something must be based on knowledge, not just following what other people do, because something done without knowledge will lead to the risk of loss or the investment made will be in vain. It is highly not recommended for beginners to invest by following along just because other people are also investing in Bitcoin, there are many things that need to be considered and you also need to equip yourself with all the knowledge and be prepared to bear all the risks. Bitcoin investment does not guarantee instant profits because the price continues to fluctuate all the time. Research is also the basic science for choosing the right time so as not to get caught in a bearish trend which makes asset values decrease further.

[Kristiyana]

True. I’ve seen people who are willing to invest their life earnings because someone is investing a lot of money but they fail to understand that the person who they follow their footsteps may have even more money as a backup plan. Just because it’s Bitcoin and has risen so unbelievable doesn’t mean it’s 100% safe for investment. If you must invest, know the risks, and do it at your own pace.

This is the danger of following what is trending and not doing research first. Many of them suffer losses because they are influenced in this way. Usually those who are affected are people who are new to the world of cryptocurrency and hope to make profits quickly and want to be proud of the results they get. So in the end it will only make it easy for us to be fooled by other people and end up losing the money we use for trading.

Actually I think following what is trending is not bad, but making research to know more about that particular thing is what matters you can't jump into something that you don't have any knowledge about how it works, that is why most people their first appearance in the market is just to experience lose reason is because they failed to get the necessary information about crypto investment before looking out to invest.