Bitcoin investment is not try your luck

[Gaza13]

I think bitcoin investment has nothing to do with trying of luck, but I think there are people that still do it. I think people that do it are those we refer to as gamblers. They purchase bitcoin with the hope for it to rise in a very short time, and most times end up losing their money. They can be lucky for sometime, but most times they end up losing everything.  I think if you want to invest on bitcoin you have to be patient and set a long term target for yourself. You just have to accumulate and hold for a long term,  which definitely reduces the risk  of losing your money. This is just my opinion I am open to learn what other people think too.

If there are still people who think that way, I assume it’s likely because they don’t truly understand the investment or asset they intend to purchase, nor do they grasp its purpose. Given that level of understanding, it is only fitting that they end up losing their money. For those who are knowledgeable, investment can be described as the process of getting to know or studying an asset along with gaining other relevant insights in greater depth. From the perspective of sound reason, achieving wealth cannot happen in a short amount of time, and we really need time, consistency, and discipline for a long time to build all of that, In this life, there is no such thing as an instant way to achieve all of that.

[Adiljutt156]

One of the challenge that disrupt a new investor from being a long term investor is the fact that they are quick in concluding false information they read on the internet about bitcoin,before concluding on bitcoin future because of a false news you read on the internet about it,it would be wise if you sit back and trace the history of bitcoin.After tracing the history of bitcoin you’ll get to know that you’re supposed to continue holding your bitcoin regardless the false narrative you read about it on the internet,come to think of it how did those early adopters managed to hold onto their bitcoin regardless the hate and criticism it faced when it was newly created.That should be a challenge to those newbies that are easily tossed by every negative feedback they encounter on the internet about bitcoin.

From early days, things like these are attached to Bitcoin because there was enough negativity, which is always chasing, and people are still having enough theories, which are not helping to increase investments. Even few developments are doing good work because many platforms are helping out for bringing better things regarding Bitcoin.
Having current price range is impressive because just because of this, now people are taking interest, while understanding is also helping out people's decentralization and control of keys, which are always one of best options. Bitcoin is getting good intention from hype and other arguments because now talk is going to new levels about how to keep this as strategic reserves of governments and big institutions.

[Bright0515]

I completely agree with this. Bitcoin investment should not be treated like gambling. I am new here from Philippines and I learned this the hard way when my first posts were deleted because I rushed. Now I understand that investing in Bitcoin needs research, understanding of private keys, and risk management. It is not about luck, it is about patience and learning the fundamentals. As a beginner saving for my family, I only invest what I can afford to lose and I focus on learning first.

I like the fact that you applied the lessons you learnt about rushing to make a post on the forum to make an investment in Bitcoin even though they are completely different. The important lesson you learn here is that you should not treat Bitcoin investment as something you can rush into and then make profit from it as though you are gambling, it doesn't actually work that way. The same way you take out time to constructively create a thread on the forum should be the same effort you put into acquiring knowledge to invest in Bitcoin.

[Abelly]

If you are buying, just make use of DCA strategy, just keep on accumulating bitcoin, you don’t have to monitor bitcoin price when investing, just have a particular amount which you will invest within a specific time frame. You don’t have to do any analysis about bitcoin price movement when investing.

The DCA method is effective for every person, whether new or old investor, if every person invests in Bitcoin according to this DCA method, he will definitely achieve success. Therefore, those who invest in Bitcoin with patience in this volatility are the only ones who can create the greatest opportunity to achieve success.

In volatile markets like Bitcoin, following DCA can reduce the stress of buying at the right time. It even gives investors the opportunity to buy regularly in small amounts according to their ability. However, it is not the case that following the DCA method will guarantee success. The biggest advantage of DCA is to maintain discipline in investment decisions and reduce the impact of emotions on market fluctuations. However, if the market is down for a long time, you can still face losses after following DCA.

Especially if you do DCA with money that you will need in the next few weeks, you will be forced to sell Bitcoin at a loss when the price is low at that time. In that case, just because you did DCA, your investment will not be considered successful.

[Pandorak]

In volatile markets like Bitcoin, following DCA can reduce the stress of buying at the right time. It even gives investors the opportunity to buy regularly in small amounts according to their ability. However, it is not the case that following the DCA method will guarantee success. The biggest advantage of DCA is to maintain discipline in investment decisions and reduce the impact of emotions on market fluctuations. However, if the market is down for a long time, you can still face losses after following DCA.

In practice, DCA is always used by investors who want to accumulate Bitcoin over the long term, because by buying gradually, you acquire Bitcoin at different prices, not just at a single price, as you would with a one time purchase. When prices drop, this can be a good opportunity to buy more, even with the same purchase amount, you can end up with more Bitcoin.

One thing you must understand is that using DCA does not automatically mean you avoid losses. When a price drop occurs, the value of your Bitcoin will inevitably decrease, this is something every investor experiences. Therefore, DCA is better suited for people who want to focus on the long term. As we know and as can be seen from Bitcoin historical price data, every price cycle tends to eventually rise and that’s what we hope will happen in the next cycle.

Especially if you do DCA with money that you will need in the next few weeks, you will be forced to sell Bitcoin at a loss when the price is low at that time. In that case, just because you did DCA, your investment will not be considered successful.

This is called trading, not investing. DCA is strongly discouraged in trading, you only end up accumulating more losses. Even though Bitcoin is highly volatile, it’s highly unlikely there will be a significant price increase in just a few weeks, especially during a bear market or a sideways trend on higher time frames. On the other hand, if that were to actually happen, say an emergency arises that forces you to sell your Bitcoin holdings, it means there’s something wrong with your money management. You need to reevaluate it, because it’s important to be mindful of the funds you’re using for investing.

[Franklyn-wood]

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.

People are going through a lot and wish they have the funds to really invest in Bitcoin and much as they wanted to, but the economic situation around the world limits people from taken advantage of Bitcoin as supposed. Holding for a long time might be impossible due to the facts that expenses are more than income. No matter how small we can still save up little to partake in the Bitcoin investment. There is future in Bitcoin with long term investment when the funds can wait till maturity.

[Hazink]

Ask yourself why are you here in the crypto space, to look for short term profit (weak hands) which will end up putting you in losses in the long run or you are here to build a future for yourself through your long term bitcoin investment.

The question is no longer necessary for me, the short term and long term profit-chasing thing is not new to me, and I'm also very aware that it will be very disappointing to try and put my future on it that I can raise wealth by just holding. Profit can be made in the long run which could be regarded as preserving wealth, but it's not same thing with building a future.

[lampukoe lumo]

I want Please give me some good adviceto ask, for now which allcoin is good to buy?

[BABY SHOES]

I still need luck, I am going to use all I can to keep buying Bitcoin every month and I plan to hold for as long as I can, the problem is mistakes and bad lucks.

I need good luck not to pick the likes of ColdCard and my self custody wallet.
I am not going to buy Bitcoin on any Centralised exchange and at that moment is when the exchange got hacked.
........

Don't get victimized like Coldcard and Ledger for choosing them wrong, it's not another matter of luck but bad luck to over-trust a cold wallet that doesn't have a reputation.

The Platform has been a lot of data breaches, we are more at a disadvantage... damn it they're not that safe, you didn't pick the stock I'm backing her up.

We can't leave the stock market... never keep it there anyway.