Bitcoin na one of di best investments wey anybody fit to enter but many newbies no know say e de better to hodl am for long term. Unto say Bitcoin de volatile dat na why e de advisable to hodl am for long term because na store of value wey de take long term to reach new ATH price and give better ROI.
But I don notice say many newbies wey I know for Bitcoin matter no get knowledge about how e de work, dem de buy Bitcoin with money wey dem wan use on the short term because dem hear say e de profitable. I believe say na only wen we enter bull run proper wey Bitcoin price go de surge steadily na im investors fit to take chances to invest money for short term profits.
Nobody know exactly wetin Bitcoin price go be in di next 24 hours, weda e go pump or dump, na only speculations and predictions we fit to do. Dat na why newbies need to understand say e no de advisable to invest in Bitcoin on a short timeframe because di price fit to dip wen dem wan use di money. Invest di amount wey you fit to put aside, preferably do DCA method and no plan to sale am on the short term. Na my advice to newbie investors.
Let me just relate this your message to the short dip that is happens recently, just imagine that you bought Bitcoin now for some kind of short term hold thinking that since Bitcoin was already $62k that it would be maybe go up abit to $70k or $72k then you probably sell off and get the profit and then you wake up with the price shifting down more to even $57k, I believe if you are not strong enough you would probably sell off with the fear that it won't pump or maybe the time frame in which you had for the investment might have elapse and sold at that $57k which indicates a big loss for you. That's why going with the short term investment mentality in Bitcoin is really never the best option as it is always better to HODL for long to atleast get a tangible profits to your investment in the future.
