Bitcoin price prediction and newbies' thoughts

[Shussainshah]

Honestly, I understand your point so well because I was once a newbie in the crypto space. I once thought that Bitcoin was a get rich quick scheme, but I was really wrong. Although I have learned that Bitcoin allows us to secure our future, but there are still some people around the world that still doubts it.
There are still some people who literally think that if they buy Bitcoin today, within the next few days they will make some profits. Honestly, the thoughts of many newbies in the crypto space are wild, but I believe that if they do more research about Bitcoin, they will know more.

You're right, when I first entered this field I had the same idea I used to think that Bitcoin was something like a magic money box where if you put your money in today it would double tomorrow and you'd become rich, Haha. It doesn't work that way, however. Bitcoin is more similar to planting a tree , you have to wait for it to grow rather than expecting the fruit the next morning. Some beginners still think Bitcoin is a way to get rich overnight, but that's not true; you have to grow the tree and only then can you enjoy the fruit it produces.

[boyptc]

Can't stop people who have been buying thinking that the price of Bitcoin will continue to rise in the future.

That's the main reason of many investors why they're buying it. Because of the past history of its ATHs, it has convinced a lot of people who haven't bought during the its lowest that there's a certain future by holding.

But in the sense of understanding that there's more to it, I agree and that's also learned later when a holder starts to get to know more about it due to volatility and other characteristics it has.

[alastantiger]

They will profit in the right time if they follow the guidelines and not just follow others suggestion. They also need to learns about hodling Bitcoin tight in the bear market and knowing how to buy at that time. The profit will comes when the bull market comes so they will have patient to buy and hodl while waiting for the time comes.

If only newbies will be willing to listen to your advice then they will not have a problem but majority of them will decide to ignore all this advice and do what they believe is the right thing to do but they will regret making that decision since they do not have any experience yet. It is only the newbies that listen to the advice from the experience investors that are going to make profit in the market for those that refuse to listen are going to make losses. Instead of FOMO it is better newbies buy Bitcoin and hold like you said but still many newbies will think that the best way to invest in Bitcoin is to buy when the market is high but what they refuse to understand is that that is when people are selling instead of buying.

[JiiBs]

Those who only picture it as an asset to turn their financial situation around in a quick way are viewing it wrongly. Bitcoin is an asset, a store of value, etc.

I do not think they are wrong too but if they think bitcoin can do it within few months is when they are wrong. If bitcoin is around $63000 now, do you not think bitcoin can not go to $500000 in few years from now? If bitcoin increase like that, I will be very happy because that is more than 7.9 times of the money that I invested on it today. I know bitcoin can not just get there easily, but it is going there.

Taking on this narrative alone is in itself dangerous, Bitcoin as it is wouldn’t make you rich if you aren’t already rich. Know that, you would earn as much as you invest, it’s in multiple and plays in the roles of, he who has more stands to get more value of it when Bitcoin pumps.

Bitcoin price at the time is around $63k and that’s a steep price for most forks, many don’t have that money and the few that do, you can consider yourself rich. To have invested that much in Bitcoin, you would be expecting at least 2x or 3X in a cycle and on the day it dumps, so does your holding value.

What’s wealth if you can’t spend it?
Mind you, the more you spend, the less value you have. That’s why, the getting rich narrative is dangerous for Bitcoin investors.

[justdimin]

If only newbies will be willing to listen to your advice then they will not have a problem but majority of them will decide to ignore all this advice and do what they believe is the right thing to do but they will regret making that decision since they do not have any experience yet. It is only the newbies that listen to the advice from the experience investors that are going to make profit in the market for those that refuse to listen are going to make losses. Instead of FOMO it is better newbies buy Bitcoin and hold like you said but still many newbies will think that the best way to invest in Bitcoin is to buy when the market is high but what they refuse to understand is that that is when people are selling instead of buying.

It's not about newbies or experts, nor is it about buying at higher prices, but it's all about patience and holding on to the assets you have already bought if the market isn't favourable at the moment. The ones who lose are the ones who sell at a loss, that's what we all know about this market or any financial market in general.

You might buy at a higher price, because someone has to buy for another to sell, so it's not like no one would buy Bitcoin when it reaches $200k, but it's just that those who enter the market that late, will have to wait for the market to get their investments into profit, and meanwhile, all they need to do is stay patient and keep holding, or even better, keep adding more when the price is low.

The reason why newbies mostly lose money is because they easily become impatient and think that they are losing money when they see their portfolio losing value, which is not true, because unrealized loss is not loss until it becomes realized loss, and an investment in Bitcoin will only get you realized loss if you sell it lower than where you had bought it. If you stay patient and keep holding, those unrealized losses will turn into unrealized profits in the future, but at the end of the day, as I said, it's all a game of patience and self-control.