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

[lalabotax]

In fact, it is legal for anyone to do it. There is also no prohibition on following other people's behavior in investing in Bitcoin. it's just that everything has to be prepared first. including knowing and being ready to accept the risks.
the most important thing is that his understanding of Bitcoin and investment is formed first, and everything will be fine.
because often when you are hanging out you will talk about whatever you are doing and if you tell a story related to Bitcoin and it interests your friends, don't hesitate to tell them.

Yes, this is not completely wrong and in fact it is perfectly acceptable to follow people in ebrinesvatsi on Bitcoin. However, there must be some notes to pay attention to so that you don't just follow along. In this case, each person's readiness will definitely be different, and this is quite dependent on how they decide and do things. Investing in Bitcoin, for someone, is really worth it and can bring success. However, it does not guarantee to provide exactly the same results for other people who follow it.

The main factor is that the preparedness of these people is quite different. This readiness is not only related to material readiness for investment, but also knowledge and mental readiness for investment. At least it is true, we must first have knowledge regarding Bitcoin, at least know what the benefits are, the risks, how to invest, tips from various sources, and also some other information that can have a positive impact on initial knowledge capital. This can be obtained from various sources which are quite easy to obtain, especially from various sharing that can be obtained, which is quite helpful.

It's just that, indeed, people are often so impatient to do it and want to be quickly successful and make lots of profits like the people they follow. So he didn't need a lot of efforts, he just invested directly in Bitcoin without considering some basic things, because he thought he had the money. This is what you have to be careful of as a follower of other people investing in Bitcoin. Because, behind success in investing, there are various risks and risks that must be endured and faced.

[Dr.Osh]

I don't think I fall into your category because I invested because someone else did it first so I followed them

I don't think it matters whether we invest in bitcoin just because we see other people or are persuaded by other people because in the end what I feel is when I have been in bitcoin and that becomes important because in the end not everyone who is in bitcoin because of other people follows everything that other people say because if they are serious they will definitely study it seriously which in the end will lead to confidence that our choice is not wrong.

Indeed, the ideal is that we have to learn first before actually starting but on the other hand if indeed we know from others and the person has done it first then I think it doesn't matter that we follow while continuing to do research and learning about what we are doing.

In fact, following other people and then going deeper into it is a good thing. However, many people follow others just because of the hype, and don't do any research first. They think that bitcoin investment is a short-term investment, because they only enter when the price of bitcoin is high. In the end, they are disappointed when the price of bitcoin falls, and their investment is stuck so they sell at a lower price than the price they bought. In fact, if they look into this, they will see that this is a normal thing in this kind of investment. However, knowledge is also needed in investing, even when we have invested because we follow someone.

[rodskee]

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.

It is really sad to see because if you ask how most of the people got to know about Bitcoin and what Bitcoin can do, they’ll be focused on telling you how it could go from under a cent to a lot of money (which isn’t bad to say), but this isn’t the first impression that Bitcoin would want. Some people don’t even know it’s a currency. It’s an investment to them because that’s what they learnt.

actually if we are about bitcoin then I believe this is safe to follow what others may
comment or advise you because of its safety and assurance to increase each 4 year cycle.
though you are correct in that because relying our investments from others will
make us blame ourselves from believing in others.
also correct that some people does not know about this currency instead they
though this is something like to make money but not to use as currency.

[khalidkhan82118]

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

what specific factors do you consider when conducting your research?

[DubemIfedigbo001]

Its only a careless person that invests in what he doesn't understand, that mistake always proves costly and has a bitter and regrettable ending. The first accurate move to investing is your research on the subject of interest, in-depth research that leaves no stone unturned to fully understand the nature of the investment and whether its a good fit for you. Researches shouldn't be conducted in a hurry, take your time and do your findings well because any mistake will lead to a big financial loss.

Bitcoin investment is one that has some considerations to make before even starting.

• You should only invest with your spare funds that you wouldn't be needing anytime soon because bitcoin investment is for a long term
• Never borrow money for bitcoin investment, bitcoin price is volatile
• Invest The amount you can afford to lose
• You do not need a lot of money to start investing, there's DCA method for slow and steady investments
• Purchase coins and store in a decentralized wallet, self custody is the best
• Have a side hustle so you don't tamper with your investments in a short period

Generally, bitcoin investment is good and you need to approach it with the correct discipline for profitable investment. Understanding it is the first and most important step in your investments journey.

[Jaycoinz]

Its only a careless person that invests in what he doesn't understand, that mistake always proves costly and has a bitter and regrettable ending. The first accurate move to investing is your research on the subject of interest, in-depth research that leaves no stone unturned to fully understand the nature of the investment and whether its a good fit for you. Researches shouldn't be conducted in a hurry, take your time and do your findings well because any mistake will lead to a big financial loss

Well you would be surprised at the rate of careless people there is, sometimes these no research investor get triggered maybe through some fancy praise to a particular project by some big time influencers or celebrity online, sometimes it can even be from arguments or discussion by maybe peer groups and without doing research they rush into investing in that particular project thinking it would give them same profits at which they have heard people discussing or showering praises on.

[eightdots]

Its only a careless person that invests in what he doesn't understand, that mistake always proves costly and has a bitter and regrettable ending. The first accurate move to investing is your research on the subject of interest, in-depth research that leaves no stone unturned to fully understand the nature of the investment and whether its a good fit for you. Researches shouldn't be conducted in a hurry, take your time and do your findings well because any mistake will lead to a big financial loss

Well you would be surprised at the rate of careless people there is, sometimes these no research investor get triggered maybe through some fancy praise to a particular project by some big time influencers or celebrity online, sometimes it can even be from arguments or discussion by maybe peer groups and without doing research they rush into investing in that particular project thinking it would give them same profits at which they have heard people discussing or showering praises on.

There are many people who invest based on what they hear from others. These people immediately trust what they hear and want to make a quick profit. They should know that investing involves risks and that investing based on what they hear from others is a mistake.

The investor should research himself and learn how the market works. Everyone wants to win quickly, but the market is not a 90-minute match and it has a way of working. It is the right thing to learn this process and make the investment after gaining knowledge.

[albon]

There are many people who invest based on what they hear from others. These people immediately trust what they hear and want to make a quick profit. They should know that investing involves risks and that investing based on what they hear from others is a mistake.

The investor should research himself and learn how the market works. Everyone wants to win quickly, but the market is not a 90-minute match and it has a way of working. It is the right thing to learn this process and make the investment after gaining knowledge.

Most newly involved in Bitcoin investing may only be aware of the potential for substantial returns from their investments, regardless of the risks, necessary experience, knowledge, and guidelines and recommendations that enable them to achieve their goals. Of course, the cryptocurrency market has no guarantees or quick profits and may suffer during times of sharp declines. Whoever invests in Bitcoin must be sufficiently educated, follow a long-term mindset, and invest money that does not impose financial or psychological burdens if its value drops one day. Also, they are committed to managing their capital and potential risks, capable of securing their wallets and seed phrases, and knowledgeable about the necessary security measures to protect their investments from common fraud methods they might encounter. Therefore, no investor can invest based on the fact that a particular group has invested and succeeded in doing so because each investor's experience, ability, and risk tolerance vary from person to person.

[Lantind]

Well you would be surprised at the rate of careless people there is, sometimes these no research investor get triggered maybe through some fancy praise to a particular project by some big time influencers or celebrity online, sometimes it can even be from arguments or discussion by maybe peer groups and without doing research they rush into investing in that particular project thinking it would give them same profits at which they have heard people discussing or showering praises on.

Those who decide to invest in Bitcoin and don't do research first, of course this is very wrong because they use the income they have, of course they must first do in-depth research so that they don't make mistakes that cause them to lose the money they used to invest.
If we are influenced by what other people say about investment and we are interested in trying to invest then we must first do in-depth research before deciding to invest, because what they talk about is certainly the result of what they do and not necessarily what they tell us. the process they must go through so they can achieve success from the investment they make.

[Nothingtodo]

There is no rule that I don't have to act on Bitcoin if others are investing on Bitcoin, but anyone can invest on Bitcoin at any time. When the market conditions are good and there are enough opportunities for the investor, anyone can invest in Bitcoins with due diligence. When my friends invested in Bitcoin, I became interested enough to invest in Bitcoin myself. Moreover, before investing in Bitcoin, there is no opportunity to think about what others have done or invested, but I invest based on what I know or understand.

[Cryptoprincess101]

I think we have knowledgeable individuals in this forum and since I joined this forum I have never seen anyone ask questions in this forum without getting answers so the best research a user here can do about bitcoin is here on the forum because there is no knowledge that you need that you won't be able to get here. Everything is complete in the forum just develop time to read and learn you will get the right knowledge about Bitcoin and there are even threads that focuses more on Bitcoin discussions you can go through those threads and you will get the right knowledge you wish to know.

[Velemir Sava]

I think we have knowledgeable individuals in this forum and since I joined this forum I have never seen anyone ask questions in this forum without getting answers so the best research a user here can do about bitcoin is here on the forum because there is no knowledge that you need that you won't be able to get here. Everything is complete in the forum just develop time to read and learn you will get the right knowledge about Bitcoin and there are even threads that focuses more on Bitcoin discussions you can go through those threads and you will get the right knowledge you wish to know.

OP's idea is also good..

Where it will be seen how we act and react to BTC, is there anyone who wants to reverse the facts by pretending to say that BTC is bad for us to invest in and has no value for some of us in this forum.

Just a social experiment, I think.

[Zanab247]

I think we have knowledgeable individuals in this forum and since I joined this forum I have never seen anyone ask questions in this forum without getting answers so the best research a user here can do about bitcoin is here on the forum because there is no knowledge that you need that you won't be able to get here. Everything is complete in the forum just develop time to read and learn you will get the right knowledge about Bitcoin and there are even threads that focuses more on Bitcoin discussions you can go through those threads and you will get the right knowledge you wish to know.

I disagree with you, by saying it's only this forum you can get answer about BTC because there are some answers you will get in this forum, it will lead you to losses and you have nobody to blame about your losses, because you failed to carry out your research before investing in BTC.

If you have the knowledge of BTC, you don't need to ask plenty questions about the current situation in the market before you will know what to do, because you know that bear season is to buy and hodl which is the reason we are right now, and you need to buy BTC and hodl for another ATH to occur.

Whenever you see people rushing to invest in BTC, take time to research to know if the price will still dump more or the price will continue pumping before you can make your choice that will going to favor you in the future.

[uneng]

I prefer taking my time to make a research before I invest on Bitcoin

That is a good idea. Before starting an investment you have to know exactly what you are going to do and how you should do it in order to protect your money from potential unecessary risks and mistakes you can commit during the process. Most newbies don't know how to acquire Bitcoin and how to store their coins safely after acquiring it. So they get vulnerable to scammers and third party platforms which can disappear at anytime with their money when they decide to store it there, instead of a hardware wallet.

Moreover, you also have to do your research on how this market works. It's not a traditional market. Things here are much more volatile and there aren't central authorities controlling prices, so it's possible to see your investment rising 50% in a single day, but also falling on the same proportion. Newbies get desperated when it happens to them, and end selling their holdings before the right time, because there weren't prepared for this scenario.

All these informations are important to be absorbed by every investors before they start their Bitcoin investments.

[Ale88]

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

That advise should be valid for everything is life: never do something just because someone else is doing it, it's not a smart move. And even of the advise is good, maybe it's not good for you because we are all different. Some people understand how bitcoin works and why it has a value, for others is just a scam or a Ponzi. Doing researches will help you understand that bitcoin is not for everyone.

[Issa56]

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

I know everyone is now talking about bitcoin investment. Whenever you open your social media, you are going to see lots of posts about bitcoin and other altcoins. Don’t just start investing in bitcoin because you see it on social media or because your friend asks you to invest without doing your own research first. If you do that, you might end up losing all your investment. If you are investing in bitcoin, then first take your time to learn about it. Learn about things you are supposed to do and things you are not supposed to do. Just make sure you have basic knowledge about bitcoin before putting your money in it.

[Yukyzu]

I know everyone is now talking about bitcoin investment. Whenever you open your social media, you are going to see lots of posts about bitcoin and other altcoins. Don’t just start investing in bitcoin because you see it on social media or because your friend asks you to invest without doing your own research first. If you do that, you might end up losing all your investment. If you are investing in bitcoin, then first take your time to learn about it. Learn about things you are supposed to do and things you are not supposed to do. Just make sure you have basic knowledge about bitcoin before putting your money in it.

When someone has the desire to invest in Bitcoin because they have read the news on social media and their friends, of course this is not enough of a reason for those who want to invest and it would be better for them to learn about Bitcoin first, because investing has risks. If we start by not having sufficient understanding, of course they will experience losses in the investments they make and I agree with you that it would be better for us to first have basic knowledge about Bitcoin so that we can know what is worth doing in investing so we can achieve our investment targets.

[BALIK]

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

That advise should be valid for everything is life: never do something just because someone else is doing it, it's not a smart move. And even of the advise is good, maybe it's not good for you because we are all different. Some people understand how bitcoin works and why it has a value, for others is just a scam or a Ponzi. Doing researches will help you understand that bitcoin is not for everyone.

This advice doesn't just apply to investing in bitcoin, it can be applied to every area of our lives. When we see someone succeeding in a certain job or field, it doesn't mean we rush to imitate them and hope to achieve the same results as them. Each of us is different, sometimes they will be successful with that formula but not necessarily that formula will be suitable for us. Therefore, before doing anything or participating in any field, we should take the time to research and learn everything before making the final decision.

OP's advice is really helpful and I am witnessing this right in my locality, many people don't even know what bitcoin is, many people don't even know how to create a bitcoin wallet but they are investing in bitcoin through advice from people around them. It would be too risky for them if the market fluctuates suddenly, but what's sadder is that they even ignored my warning and only believed in those who always gave them advice about huge profits.

[wiss19]

I do not see anything wrong when someone checks the news first before investing. This is only called as fundamental analysis. What is only wrong is when they invest because they see a shilled post in the social media. However if it is only about bitcoin, I think it is not totally wrong as well. Because, even if you buy at the top but as long as you continue holding, the dips will just past and you will see a new light again.

There are only few things that it is beneficial to follow a crowd like protesting to increase the salary of a job or lower the price of the goods but there are still insane people who do not join it. Luckily a crowd can still win over them.

[boyptc]

I do not see anything wrong when someone checks the news first before investing. This is only called as fundamental analysis. What is only wrong is when they invest because they see a shilled post in the social media. However if it is only about bitcoin, I think it is not totally wrong as well. Because, even if you buy at the top but as long as you continue holding, the dips will just past and you will see a new light again.

Yeah, they're being shilled to buy the best crypto asset ever and I don't also think that's a problem. But everyone has to practice doing some research before buying.

Not just because someone told them to, they should buy it asap. No, it doesn't have to be like that because all they have to do is to make themselves comfortable before buying it.

And that's why we always tell everybody to DYOR.