Bitcoin investment is not try your luck

[Queen uloma]

You’re very correct, investment isn’t something you need to go in with the mindset of trying your luck, that mindset will make you not to be serious and it will also affect your decision which will automatically lead to losses. Investment has to do with patience because it requires building for the future that’s the need for investment. Long term outcome is the best because it gives you enough time to learn, study and know the challenges involve to prevent you from encountering unexpected losses. Bitcoin investment and gambling  Are two different things.

 Gambling is based on  luck, while bitcoin investment has to do with patience, consistency and determination.  For me, there’s nothing like short term trading is for smart people since risk is still involve. The best thing is to focus more on long term.

[Pandorak]

A common problem is that people don't have enough funds available other than Bitcoin. They might be in the position to believe in a holding for years, but if they have money they need to spend on rent. Medical expenses or emergencies. Then a new expense can make it essential for them to sell at a loss. Even a smart long term investment strategy will be tough to stick to in that scenario. Before they invest. It's logical to have an emergency fund and invest only out of money that they can afford to leave set aside. Financial preparation is key and without financial preparation patience is just wishful thinking.

The funds you use for investing must indeed be your top priority. I’ve noticed that people often focus too much on the mindset or long term goals of investing in Bitcoin, without realizing that without proper money management rules, all of that will ultimately be in vain.

In this regard, after receiving funds, whether from your job or your own business, you should immediately calculate and allocate them, prioritizing setting aside funds for living expenses (food, bills, transportation, etc) first. After that, you’re free to allocate the remaining funds to a reserve fund, an emergency fund and funds to be used for investing. This is important to keep your investments safe and untouched, because when an emergency actually arises, you still have your emergency fund and if that isn’t enough, you still have another line of defense, your reserve fund. This way, your chances of success with your Bitcoin investment will be even higher.

[Marvelockg]

A common problem is that people don't have enough funds available other than Bitcoin. They might be in the position to believe in a holding for years, but if they have money they need to spend on rent. Medical expenses or emergencies. Then a new expense can make it essential for them to sell at a loss. Even a smart long term investment strategy will be tough to stick to in that scenario. Before they invest. It's logical to have an emergency fund and invest only out of money that they can afford to leave set aside. Financial preparation is key and without financial preparation patience is just wishful thinking.

The funds you use for investing must indeed be your top priority. I’ve noticed that people often focus too much on the mindset or long term goals of investing in Bitcoin, without realizing that without proper money management rules, all of that will ultimately be in vain.

How can you invest for the long term if you are not intentional about your investment? it is just that people have fallen victims of Ponzi scheme so much that they think that anything that is of this form must be related to a Ponzi scheme. maybe some of us use to have that kind of mindset due to ignorant but what you eventually come to know bitcoin for what it truly is, you will appreciate what being intentional with your investment is about and will never be casual with your investment plan and strategy.

There are other options that you can use the funds you are putting into bitcoin for and the fact that you have chosen bitcoin out of the other option is enough reason why you should be intentional about it.

[Matteotaylorr]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

[Josefjix]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

You are right, every new investor suffers this sickness of not staying calm during stormy times, it's normal. But what's abnormal is not learning from it and becoming emotionally strong when storms no longer weigh.

Personally, I've been in the space for over a decade, I have learnt a lot and then overcame the fear when market goes sideways, I've experienced many ATH and ATL and so it doesn't freak the hell out of me again.

At this point, investment becomes automatically and decision are taken out of calculation and not desperation.

[Zackz5000]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

This is because they aren't familiar with the market, most newbies always panic when their is some drop in price of Bitcoin but at some time they will know the Dip is part of Bitcoin.
Bitcoin is a volatile asset so there will be always upward trend and downward trend, when a new investor is use to this, that those who plan is to invest for a long time they will no longer panic knowing that there will also be an increase in price of Bitcoin despite the Dip, long time investor will accumulate more Bitcoin when their Dip since they can accumulate more Bitcoin at low price.

[Tmoonz]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

This is because they aren't familiar with the market, most newbies always panic when their is some drop in price of Bitcoin but at some time they will know the Dip is part of Bitcoin.
Bitcoin is a volatile asset so there will be always upward trend and downward trend, when a new investor is use to this, that those who plan is to invest for a long time they will no longer panic knowing that there will also be an increase in price of Bitcoin despite the Dip, long time investor will accumulate more Bitcoin when their Dip since they can accumulate more Bitcoin at low price.

Most newbies don't only panic when there is some drop in price of Bitcoin, they also panic when there is some increase in the price of Bitcoin, panicking when there is an increase in the sense that they are vulnerable to sell because they are seeing a little profits from the market increase. Just as you have clearly stated, the up and down movement is normal market experience that every newbies should understand and become emotionally strong enough not to make decisions that will regret later instead they should focus on their motive of long term plan, staying long in the market is what will make them gain experience so there is no need of a hasty decision, by learning how to stay calm when the market drops and increases.

[ruykeri]

You’re very correct, investment isn’t something you need to go in with the mindset of trying your luck, that mindset will make you not to be serious and it will also affect your decision which will automatically lead to losses. Investment has to do with patience because it requires building for the future that’s the need for investment. Long term outcome is the best because it gives you enough time to learn, study and know the challenges involve to prevent you from encountering unexpected losses. Bitcoin investment and gambling  Are two different things.

 Gambling is based on  luck, while bitcoin investment has to do with patience, consistency and determination.  For me, there’s nothing like short term trading is for smart people since risk is still involve. The best thing is to focus more on long term.

You are right. There is a big difference between making decisions based on luck and following a long-term plan when investing in bitcoin. There is not much to maintain when using bitcoin as gambling. Just make a short term price prediction and buy bitcoin accordingly. But in long term investment, there is a lot to maintain. A person cannot become a successful investor just by having patience, consistency and determination. Also, one must have proper fund management according to the right mindset and must also have the ability to accumulate and hold bitcoin for a long time. And the ability to invest in bitcoin is having discretionary income. And to hold it for a long time, one must give importance to creating a backup fund without any hassle. And long term investors tend to get a lot of benefits. Especially, they do not need to constantly guess the next direction of the market. So there is no need to do short term bitcoin trading based on luck. Rather it is more reasonable to invest with a long term mindset.

[AYOBA]

Some people will try their luck with trading, thinking it is a professional way to earn more money but many of the traders that tried it are losing. Instead to earn money and use it to invest in bitcoin, they earn money and use it for crypto trading and lose.

Another one are those that are fooled by altcoins. They will see the coins have fallen significantly, thinking it will get back up because they are volatile than bitcoin. The coins will not get to all time high after they have lost money significantly.

The problem with most of people is that they’re only looking for a way to earn quick money and there’s something’s that people never understand about trading, once they see one or two people have trying their luck in trades and luckily they where able to succeed in their first time. They will be thinking that that’s how it will continue forgetting about the risks that is involved, till after they take a big amounts of money and lose it significantly they will realize that their mistakes.

With the bad move that altcoins took place throughout this year people suppose knows that altcoins is not a right places to invest anymore. Because if we observed the all altcoins market this year is not encouraging at all, so anyone who chooses to invest in altcoins just want to waste their money.

[ZAINmalik75]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

It is also not always about funds not being discretionary, because some people panic even when they have invested extra funds, but as soon as they see the market declining, they start to feel that they are losing their money and if they don't make this stop quickly, they will lose everything. This mostly happens due to a lack of knowledge and understanding about the market and Bitcoin itself, because someone with enough knowledge about how things work in this market would never panic unless they are generally impatient.

Those who are naturally emotional and impatient, they might panic even when they know everything, they might have knowledge about Bitcoin and the cycles of this market, but still if they see their portfolio losing value, they may start getting worried and they will keep looking at the value of their assets every now and then to see if it is going up or down, if it is going down more, their condition will start to get worse, and at that time, no one can make such a person calm down.

[Christopher336]

In whatever one does in life, requires luck. Bitcoin investment is not risk free. We all know Bitcoin have been going up since 2009, but you can't tell me that everyone who have invested in Bitcoin always turns out successful.

[Yorubek]

Some people will try their luck with trading, thinking it is a professional way to earn more money but many of the traders that tried it are losing. Instead to earn money and use it to invest in bitcoin, they earn money and use it for crypto trading and lose.

Another one are those that are fooled by altcoins. They will see the coins have fallen significantly, thinking it will get back up because they are volatile than bitcoin. The coins will not get to all time high after they have lost money significantly.

The problem with most of people is that they’re only looking for a way to earn quick money and there’s something’s that people never understand about trading, once they see one or two people have trying their luck in trades and luckily they where able to succeed in their first time. They will be thinking that that’s how it will continue forgetting about the risks that is involved, till after they take a big amounts of money and lose it significantly they will realize that their mistakes.

People are greedy and lazy. They want to get rich quickly without working hard, but in reality it is never possible. When they see some people making money through trading, they think that this is a very easy task that will help them make money quickly. They start trading in the hope of making money quickly without knowing anything about the risks. As a result, they suffer financially. It is not right to choose trading only in the hope of making money quickly. Of course, you have to be aware of every risk. You have to understand the volatility of the market and control your greed or emotions.

With the bad move that altcoins took place throughout this year people suppose knows that altcoins is not a right places to invest anymore. Because if we observed the all altcoins market this year is not encouraging at all, so anyone who chooses to invest in altcoins just want to waste their money.

Investing in altcoins is very risky, so it is better to invest knowingly. If you invest without knowing anything and hoping for quick profits, losses will inevitably occur at the end of the day, so avoid emotions, do research, and then make a rational decision.

[Awaklara]

So there is no need to do short term bitcoin trading based on luck. Rather it is more reasonable to invest with a long term mindset.

If we invest, of course we need a plan. Whether in terms of time frame or price target. But if we buy Bitcoin relying on luck and not knowing anything that should be planned, it means we are gambling.

Sometimes we might hear people who make a profit from their investments and say, it's just a little luck. But investing is not something that simple.

[Bigjoe33]

So there is no need to do short term bitcoin trading based on luck. Rather it is more reasonable to invest with a long term mindset.

If we invest, of course we need a plan. Whether in terms of time frame or price target. But if we buy Bitcoin relying on luck and not knowing anything that should be planned, it means we are gambling.

Sometimes we might hear people who make a profit from their investments and say, it's just a little luck. But investing is not something that simple.

Sure, investments needs to be followed with wisdom and total planning. Anyone who just comes into investment anyhow will umprepardly pull out because, for an investment like Bitcoin which is highly volatile, one needs to get things on the mark and plan properly.

First, with your discretionary income, you don't invest anything and anyhow. It's compulsory to settle your basic needs before even thinking of investing, because if you don't, you would be so stressed and might sell unplanned. So we don't have to go into Bitcoin with the mindset of trying your luck. It doesn't ever work that way.

[PVequalNRT]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

This challenge is not Bitcoin newbies alone, it's generally everywhere. When a newbie makes an investment for the first time, if they make a significant profit they get overwhelmed by it, their emotions shows how happy they are but if you flip that investment quickly and it turn to mild loss, they change emotions to sad. However, the real ones knows that it's normal thing when you make investment, as long as you don't sell them, you are going to get back the value of your patience.

Bitcoin is one of the best thing that anyone would like to have, but the question is do you have the mind to hold it. If you don't have the mind to hold Bitcoin, I don't think you are ever going to see the profit. It's a place for magicians, even during the bull run that people rush to enter, the way volatility will give you profits is same you can make loss.

[Tmoonz]

So there is no need to do short term bitcoin trading based on luck. Rather it is more reasonable to invest with a long term mindset.

If we invest, of course we need a plan. Whether in terms of time frame or price target. But if we buy Bitcoin relying on luck and not knowing anything that should be planned, it means we are gambling.

Sometimes we might hear people who make a profit from their investments and say, it's just a little luck. But investing is not something that simple.

Sure, investments needs to be followed with wisdom and total planning. Anyone who just comes into investment anyhow will umprepardly pull out because, for an investment like Bitcoin which is highly volatile, one needs to get things on the mark and plan properly.

First, with your discretionary income, you don't invest anything and anyhow. It's compulsory to settle your basic needs before even thinking of investing, because if you don't, you would be so stressed and might sell unplanned. So we don't have to go into Bitcoin with the mindset of trying your luck. It doesn't ever work that way.

The emphasis is more on doing the right things first as a person and towards your investment, because relying on the goal of try your luck and neglecting what you should have rightly done will make all your efforts a disaster, bitcoin investment is beyond something of try your luck, as all the necessary efforts in terms of your management skills are needed in other to execute your investment plans since you don't just have to plan and failed to work towards it only to think that it is all about luck.

[cocadalcan]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

This is because they aren't familiar with the market, most newbies always panic when their is some drop in price of Bitcoin but at some time they will know the Dip is part of Bitcoin.
Bitcoin is a volatile asset so there will be always upward trend and downward trend, when a new investor is use to this, that those who plan is to invest for a long time they will no longer panic knowing that there will also be an increase in price of Bitcoin despite the Dip, long time investor will accumulate more Bitcoin when their Dip since they can accumulate more Bitcoin at low price.

Most newbies don't only panic when there is some drop in price of Bitcoin, they also panic when there is some increase in the price of Bitcoin, panicking when there is an increase in the sense that they are vulnerable to sell because they are seeing a little profits from the market increase. Just as you have clearly stated, the up and down movement is normal market experience that every newbies should understand and become emotionally strong enough not to make decisions that will regret later instead they should focus on their motive of long term plan, staying long in the market is what will make them gain experience so there is no need of a hasty decision, by learning how to stay calm when the market drops and increases.

The global market will continue to experience continuous price fluctuations, and as you gain investment experience, you will be able to accumulate more Bitcoin holdings. It is common for a new investor to panic in the early stages of investing. To progress from the early stages to the secondary stages, experience is needed and this experience will come through regular Bitcoin accumulation and market analysis. If an investor can accumulate Bitcoin regularly from the beginning through discretionary income, it may be easier for him to continue this process in the long term because he is not using his required available funds but using discretionary income that is left after the fund is meet weekly or monthly. If you can use this discretionary income regularly, the market fluctuations will not have much negative impact on you because you are accumulation Bitcoin through extra funds.

[Jostern]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

I think If you have a good knowledge about bitcoin and how to manage your bitcoin for a long term, you’ll not have to panic when their is a downturn in the market, before going into investing in bitcoin you should understand that their is volatility with bitcoin, and volatility also presents different opportunities for investors who are investing in bitcoin, when you can buy and accumulate during a downturn and when their is a bull run you end up having profits when you’re accumulating regularly, so having a basic understanding about bitcoin is very important and essential before going into bitcoin so you don’t panic and sell when their is a downturn.

[uchegod-21]

I think one of the biggest challenges for new investors is staying calm when the market drops. Many people understand the idea of long-term investing, but panic when they see their portfolio losing value. Having a clear plan, investing only what you can afford to lose and avoiding emotional decisions can make a big difference.

I think If you have a good knowledge about bitcoin and how to manage your bitcoin for a long term, you’ll not have to panic when their is a downturn in the market, before going into investing in bitcoin you should understand that their is volatility with bitcoin, and volatility also presents different opportunities for investors who are investing in bitcoin, when you can buy and accumulate during a downturn and when their is a bull run you end up having profits when you’re accumulating regularly, so having a basic understanding about bitcoin is very important and essential before going into bitcoin so you don’t panic and sell when their is a downturn.

No one who has truly researched Bitcoin, studied it and understood it will ever see bitcoin as something he should gamble with. Even with the volatility, there are many other very convenient ways people can invest in bitcoin without panicking, except only if they don't understand how bitcoin works and just think that they can get-rich-quick with bitcoin.

People who view investing in bitcoin this way are those people who easily fall into the trap set by scammers that promise them some good offers with bitcoin.

A real bitcoiner knows how to earn with bitcoin; they know the right strategies to adopt inorder to defeat volatility and earn massively. Those who are looking for where to gamble with their money should look elsewhere or study to understand Bitcoin and invest properly.

[Li Yuan Fangs]

Investment isn't what you should think of trying your luck because if you have such thought in mind, it will make you not take your bitcoin investment serious and that will lead to losses due to wrong decisions. Investment is about building and growing that business for the future. You are not after the short term out but a long term outcome and that will make you give yourself enough time to learn, study and know the challenges in the business to prevent you from unexpected losses.

Binance Founder CZ says every time people declared Bitcoin "dead" in the past, it was the best time to buy. history kinda backs him tbhBinance Founder CZ says every time people declared Bitcoin "dead" in the past, it was the best time to buy. history kinda backs him tbh