Keys to be successful in Bitcoin

[Cgrexp]

To be successful in Bitcoin investment, it is very important to have risk management, patience and a long-term attitude, controlling your emotions, and being aware of security. Combining these foundations brings success in investment. Success in investment never comes by chance. Although Bitcoin is potential, it is unstable, so financial decisions should be made before investing in a way that does not affect daily life because in order to survive in the long term, you should invest with an understanding of your risk tolerance. And you should be patient during market fluctuations because those who cannot be patient panic and make wrong decisions. Therefore, the best method is to invest regularly using the DCA method, which helps to be much more stress-free than trading. And when the price drops, you do not need to think too much, which saves you from making hasty decisions based on emotions.

[purple_sparkles]

To be successful in Bitcoin investment, it is very important to have risk management, patience and a long-term attitude, controlling your emotions, and being aware of security. Combining these foundations brings success in investment. Success in investment never comes by chance. Although Bitcoin is potential, it is unstable, so financial decisions should be made before investing in a way that does not affect daily life because in order to survive in the long term, you should invest with an understanding of your risk tolerance. And you should be patient during market fluctuations because those who cannot be patient panic and make wrong decisions. Therefore, the best method is to invest regularly using the DCA method, which helps to be much more stress-free than trading. And when the price drops, you do not need to think too much, which saves you from making hasty decisions based on emotions.

I like the DCA strategy and consider it the most suitable option for me. However, when the price of bitcoin was at its peak, I would still prefer to skip regular payments under this system. My journey so far hasn’t been very long, and perhaps when I have more financial resources and experience, I will look at the situation differently.

[Olatundespo]

To be successful in Bitcoin investment, it is very important to have risk management, patience and a long-term attitude, controlling your emotions, and being aware of security. Combining these foundations brings success in investment. Success in investment never comes by chance. Although Bitcoin is potential, it is unstable, so financial decisions should be made before investing in a way that does not affect daily life because in order to survive in the long term, you should invest with an understanding of your risk tolerance. And you should be patient during market fluctuations because those who cannot be patient panic and make wrong decisions. Therefore, the best method is to invest regularly using the DCA method, which helps to be much more stress-free than trading. And when the price drops, you do not need to think too much, which saves you from making hasty decisions based on emotions.

You mentioned an important point for long-term Bitcoin that there should be no negative impact on your daily life during the Bitcoin savings. This issue should be given more priority for Bitcoin. You need some time to learn and understand about Bitcoin, do DCA at this time and maintain it through continuous discretionary income. For long term such important points as well as having a backup fund that you mentioned about risk management.

The positive impact that continuous accumulation of Bitcoin through DCA will have on your financial situation is that you can live a good daily life and hold Bitcoin for the future and it is a store of value. Accumulation Bitcoin through this method for multiple cycles to create a secure financial position.

DCA method is a very suitable method of accumulation Bitcoin through discretionary income so in this method you will be able to easily run two or three cycles regardless of the price. Just keep alive mental preparation and stable income and increase the buying volume during price declines.

[elzjmirra]

That's all true, but unfortunately you forget three things, namely strong intentions and mentality and also patience, consistency is an important part but consistency without patience will not work optimally, being consistent in allocating money will not be too difficult if you have stable finances but being patient waiting for years is not easy, many people are quickly tempted and end up selling everything even though much bigger profits are in sight.

[Silikiem]

To be successful in Bitcoin investment, it is very important to have risk management, patience and a long-term attitude, controlling your emotions, and being aware of security. Combining these foundations brings success in investment. Success in investment never comes by chance. Although Bitcoin is potential, it is unstable, so financial decisions should be made before investing in a way that does not affect daily life because in order to survive in the long term, you should invest with an understanding of your risk tolerance. And you should be patient during market fluctuations because those who cannot be patient panic and make wrong decisions. Therefore, the best method is to invest regularly using the DCA method, which helps to be much more stress-free than trading. And when the price drops, you do not need to think too much, which saves you from making hasty decisions based on emotions.

Treating bitcoin as a long term investment is the best thing every investor can do for themselves, so many people came into bitcoin investment with the hope of making huge profits instantly, and the moment you start bitcoin investment with this very mindset that’s the moment you already started failing. Knowing fully well that nothing is guaranteed in bitcoin due to its high volatility, it will be of utmost importance to invest in it with zero expectation. Even though bitcoin have the potential to make profit also know that there’s a potential of it not giving your desired profit. But in all, investing in the long term gives you more hope of better returns in the future. That’s why patience and consistency is buying and holding bitcoin for long term purpose is the key to achieving a significant level of success in bitcoin investment.

[fredericktaylor]

That's all true, but unfortunately you forget three things, namely strong intentions and mentality and also patience, consistency is an important part but consistency without patience will not work optimally, being consistent in allocating money will not be too difficult if you have stable finances but being patient waiting for years is not easy, many people are quickly tempted and end up selling everything even though much bigger profits are in sight.

Consistency is very important to succeed in investing in Bitcoin, without consistency, success is not possible. Along with having the right knowledge, discipline and consistency, Discretionary use of money and confidence and patience are very important. When we can maintain consistency along with the right knowledge in investing and can confidently buy Bitcoin despite market volatility and hold on to it for the future and wait for the right time, we can gradually move towards success.

[RockBell]

To be successful in Bitcoin investment, it is very important to have risk management, patience and a long-term attitude, controlling your emotions, and being aware of security. Combining these foundations brings success in investment. Success in investment never comes by chance. Although Bitcoin is potential, it is unstable, so financial decisions should be made before investing in a way that does not affect daily life because in order to survive in the long term, you should invest with an understanding of your risk tolerance. And you should be patient during market fluctuations because those who cannot be patient panic and make wrong decisions. Therefore, the best method is to invest regularly using the DCA method, which helps to be much more stress-free than trading. And when the price drops, you do not need to think too much, which saves you from making hasty decisions based on emotions.

You need to have a conviction to be convinced first before you start investing, and those things you know about will give you more confidence in your investment. When you are holding, you are facing a lesser risk compared to when you are trading. What matters the most is patience because most people are always selling prematurely. After all, most people are even selling below the praise i know by now that the price of bitcoin is experience dipa lot of people will be selling now just because of how the market is dropping, and this is the perfect time for them to buy.

And this is how the market has always been, and this shows that there is nothing to worry about, and most people who are always selling are always the first timers, they always allow there emotion to take over them, and that is why you must always control your emotions when you are investing in Bitcoin. And now, for those who are waiting for the dip, this is the perfect time for them to buy. Let's see if they were actually serious about buying. It is good to make use of this opportunity.

[hyudien]

You can kindly comment your view below ⬇️ to add your own key to be successful in Bitcoin .

I always say one of the key success factors is patience, not only for bitcoin, but bitcoin is more demanding, because the journey to reap the seeds you plant is not fast, one halving cycle is the minimum, even highly recommended more than that time level. And another factor is endurance, after all the fear when seeing prices drop sharply will always be there, but with endurance you can get through it. And the most important point is to buy with "cold money", or money that you can afford.

[Rabata]

I think to be successful in Bitcoin, you should be confident. If you have confidence, then it is definitely possible to profit from Bitcoin. We know that Bitcoin investment is a long-term investment plan. Only those who invest for the long term will profit more from Bitcoin. You have to develop the mentality of patience in any situation.

Sometimes Bitcoin can be bearish and sometimes bullish. But you have to have that confidence in yourself and hold Bitcoin in any situation. Those who have such determination can definitely be profitable from Bitcoin investment. Again, there are some investors who cannot handle their greed with a small profit, for them I will say that you must control your greed. Sometimes you may get profit from investment, but you have to stick to your decision until the goal is achieved.

[Jostern]

Bitcoin will be the best for you when you later emerge. But a lot of people take it for granted and they are carried away by what they should do and how they should go about it .
Kindly see the following keys to be successful in the area of Bitcoin :
1: make sure you are focused: if your attention is not on one position you will deviate and for you not to deviate you must be focused . To be focused means the area in which you are beholding is not left without fixing it .
2: consistency : every one who want to be successful in the Bitcoin space must be consistent, men and women that are consistent they don’t struggle to meet the demands of the community
3: Skillful : everything you do requires skillful and educated very well even in the aspect of theory in order to be able to give a rationale behind what you are doing in Bitcoin .
4: don’t Jealous a person success : a lot of people have a wrong motive about those who are doing well in Bitcoin their by condemning such individual which is a bad attitude . Everyone as the day is going your  luck will shine

You can kindly comment your view below ⬇️ to add your own key to be successful in Bitcoin .

Your own key ways to be successful in Bitcoin seems to be quite surprising to me and it’s very much laughable to me, most especially your number 4 is surprising how is it that jealousy is a challenge, and why should someone be jealous of an individual investing in Bitcoin what does it change for that person does it make the person having more bitcoin as well, well staying focus is very important to invest in Bitcoin, but I think that consistency is also much very important because if you’re not consistent in buying and accumulating bitcoin it would definitely be a challenge, and you will not have enough bitcoin in your portfolio, but I was expecting you to mention discretionary income because you can’t buy bitcoin when you don’t have a discretionary income, if you buy bitcoin outside your discretionary income that would be a very terrible decision from my perspective and understanding, you should’ve mentioned discretionary income.

[Japinat]

You can kindly comment your view below ⬇️ to add your own key to be successful in Bitcoin .

I always say one of the key success factors is patience, not only for bitcoin, but bitcoin is more demanding, because the journey to reap the seeds you plant is not fast, one halving cycle is the minimum, even highly recommended more than that time level. And another factor is endurance, after all the fear when seeing prices drop sharply will always be there, but with endurance you can get through it. And the most important point is to buy with "cold money", or money that you can afford.

Patience has always been a crucial factor in all investments, most particularly with bitcoin.

In addition, I think what we also need the most is having the courage and positivity to keep us going. Bitcoin can always be uncertain, and its outcome are always unpredictable, so if we can stick to our goal and remain positive throughout the process, success will be definite in the long run.

[Joy- maker]

If you want to succeed in your bitcoin investment journey there are certain measures you should follow. First of all you have to think of long term and not short term. Secondly invest only what you can afford to loose in bitcoin and use dollar cost average (DCA) to accumulate Bitcoin consistently using only your leftover money (discretionary income).

Further more you have to learn how to control your emotions if you really want to succeed in your bitcoin investment journey, secure your bitcoin investment properly and avoid scams and unrealistic promises, stay informed do your own research but don't overact. Lastly continually educate yourself because knowledge is the long term advantage.

[Stormisover]

You can kindly comment your view below ⬇️ to add your own key to be successful in Bitcoin .

I always say one of the key success factors is patience, not only for bitcoin, but bitcoin is more demanding, because the journey to reap the seeds you plant is not fast, one halving cycle is the minimum, even highly recommended more than that time level. And another factor is endurance, after all the fear when seeing prices drop sharply will always be there, but with endurance you can get through it. And the most important point is to buy with "cold money", or money that you can afford.

Exactly using cold money speaks for itself such that you don't panic when others are panicking about seeing a drop in price even though no one should be expecting that the price will keep going up all the time as the market itself deals with volatility, overcoming the storm of seeing a down trend in the market is not an easy thing for those who neglect using a cold money to buy bitcoin but how funny to see them being heart broken when the price increases later, it is advantageous to use cold money because it is hard to get a significant result in the short term but a cold money you can be patient enough to wait until you get a good result.

[Mehmet69]

If you want to succeed in your bitcoin investment journey there are certain measures you should follow. First of all you have to think of long term and not short term. Secondly invest only what you can afford to loose in bitcoin and use dollar cost average (DCA) to accumulate Bitcoin consistently using only your leftover money (discretionary income).

Further more you have to learn how to control your emotions if you really want to succeed in your bitcoin investment journey, secure your bitcoin investment properly and avoid scams and unrealistic promises, stay informed do your own research but don't overact. Lastly continually educate yourself because knowledge is the long term advantage.

Bitcoin is a digital currency. To be successful in this, you only need to pay attention to one thing, which is a long-term plan. If someone comes to invest in Bitcoin with a short-term plan, then he will never be a good investor.

And if we want to be successful in investing, one more thing we need is consistency. Without consistency, it is not possible to invest in Bitcoin for a long time. If we are afraid of Bitcoin's price and do not invest, then we will never be able to become an investor. We should continue to invest in small amounts consistently by following the DCA strategy. In this way, we will be able to own an incredible amount of coins in the long run.

[Bryangabriel]

If you want to be successful in Bitcoin investment journey they are certain measures and mindset little follow and check the first thing that will come to your mind is. - Research and understand the market
- Set clear goals and risk tolerance
- Diversify your investments
- Stay updated on market trends and news
- Don't invest more than you can afford to lose  if only you can understand the market then you can achieve whatever you want. I actually got some of those answers from AI.

[freedomgo]

I have read those posts above, and it only tell the same thing, consistency.

People can be knowledgeable or not, skillful or not, or well strategic or not, but all of these cannot guarantee real success with bitcoin if these are not done in a consistent manner. That's why we often see a lot of new investors entering the market, but those who have succeeded are just few and limited.

The reason behind, its hard to be consistent in bitcoin when the price is not even stable due to its high volatility, but some have still managed to do it because they have stable faith for bitcoin and that consistency matters the most for them.

[OcTradism]

I have read those posts above, and it only tell the same thing, consistency.

People can be knowledgeable or not, skillful or not, or well strategic or not, but all of these cannot guarantee real success with bitcoin if these are not done in a consistent manner. That's why we often see a lot of new investors entering the market, but those who have succeeded are just few and limited.

The reason behind, its hard to be consistent in bitcoin when the price is not even stable due to its high volatility, but some have still managed to do it because they have stable faith for bitcoin and that consistency matters the most for them.

People individually decide their success or failures and with same knowledge, skills, strategy, different people will manage using a same strategy in different ways that are decisive for diversifying results. In the market, results are opposite as either getting profit or getting loss, while a same good strategy can give opposite results to two people. It's not because of a strategy for example Dollar Cost Averaging DCA strategy, but by how these two people applied DCA strategy differently.

Bitcoin is just Bitcoin, and this market moves the same for everyone, it's only if a person who can apply DCA well will accumulate considerable bitcoin fund, and are able to hold it a long time for good profit. Oppositely, another person does not have enough patience and discipline for accumulation and hoding as well as sticking with investment will very possibly have loss. It's because he applied DCA strategy not rightly as recommended by textbook and succesful investors.

[Dictator69]

I think we should set a target and start selling whenever that target price is reached. There is no point in holding Bitcoin forever and also we must never sell our Bitcoin for few dollar profit because Bitcoin has the capability to give you huge profit. If you are buying in the range of $80,000 to $90,000 then an ideal target will be 200,000$ because that means you will get over double of what you have invested. I know its not an easy thing because we are not sure how long Bitcoin will take to reach 200,000$ but it will be there one day. All we need is patience and continuous investment.   

I agree with you, MusaPK. If we want to be successful in Bitcoin from a profit-wise perspective, we must set our goal first, instead of investing blindly and investing for at least a year or two and then start withdrawing whenever Bitcoin hits $200k. That's not ideal.

We should calculate our profit first, so that we want to make or a sustainable withdrawal plan that can make us profit in the long run which we can follow using the 200 WMA. Or otherwise, without such withdrawal plan, we are only trading.

[dzungmobile]

I agree with you, MusaPK. If we want to be successful in Bitcoin from a profit-wise perspective, we must set our goal first, instead of investing blindly and investing for at least a year or two and then start withdrawing whenever Bitcoin hits $200k. That's not ideal.

With investment, you need time for accumulation and get profit but time is not several weeks or months but should be in years. Targeting at profit within several weeks or months is not easy, and it's in fact very risky for your portfolio especially if you have bad financial management.

This hold camp map shows the safe holding time for your bitcoin portfolio, to avoid loss and after that you can get profit.
https://hodl.camp/

We should calculate our profit first, so that we want to make or a sustainable withdrawal plan that can make us profit in the long run which we can follow using the 200 WMA. Or otherwise, without such withdrawal plan, we are only trading.

Build up your portfolio, your finance too and follow this strategy for your Investment portfolio withdrawal.
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

[puloweh555]

That's all true, but unfortunately you forget three things, namely strong intentions and mentality and also patience, consistency is an important part but consistency without patience will not work optimally, being consistent in allocating money will not be too difficult if you have stable finances but being patient waiting for years is not easy, many people are quickly tempted and end up selling everything even though much bigger profits are in sight.

Everything you said is true. Having a target a mindset and patience are essential for investing success. However, consistently implementing these three strategies requires a strong mindset and in depth knowledge of Bitcoin. This is crucial.

Many people say investing in Bitcoin is easy you just need to own and hold it for the long term. This is not true. There are many aspects that must be mastered so that when price fluctuations occur you don't panic and make the wrong decisions. Furthermore, with Bitcoin's current significant price decline if you don't have a sound mindset about Bitcoin and lack in depth knowledge this will only lead to panic. Therefore, developing the right mindset is essential when investing in Bitcoin to maintain confidence in the asset you hold.