Does knowing Bitcoin Chart makes you less of an investor

[Biggeno]

lately i've come across folks replies on here that says, it is not really necessary to get to know about how bitcoin moves before one can start to invest in bitcoin as long as you want to take bitcoin as an investment, others replies i have come across where saying, knowing how the market actually move will make you want to start predicting the pmarket and you eventually start trading or gambling your money, which i know that no one actually knows the market next move, what most of the bitcoin analysers do is speculation and some says, all you have to is to be able get a source of income so you can determine your cashflow and know how much will be left for discretionary, and how to allocate these amount to your investment, savings, emergency and maybe discretionary expenditures.

At least for someone who wants to go into bitcoin investment, getting a source of income and being able to sort out your investment fund is valid, so folk will be able to accumulate bitcoin at their own financial pace. I don't know about other opinion but from my point of view, i don't think getting to the market charts and knowing how to react to each market chart make you less of an investor, an investor who is conversant with bitcoin chart buys bitcoin with understanding, while an ignorant investor buy bitcoin with hope on it potentials, knowing the chart doesn't necessarily makes one a trader and/or gambler, but if you read the chart to buy bitcoin tomorrow and sell that same day or in a more shorter period, you're a gambler, but if folk is able to read the chart and buy bitcoin cheap today and hold for longer period of maybe 5 years and above and/or depending on folk definition of their long terim goal, i guess that still keeps you within the framework of an investor.
I don't know much, still learning from y'all on here, if you've got any other idea contrary to what i think I will appreciate to know about it.

[Wiwo]

lately i've come across folks replies on here that says, it is not really necessary to get to know about how bitcoin moves before one can start to invest in bitcoin as long as you want to take bitcoin as an investment, others replies i have come across where saying, knowing how the market actually move will make you want to start predicting the pmarket and you eventually start trading or gambling your money, which i know that no one actually knows the market next move, what most of the bitcoin analysers do is speculation and some says, all you have to is to be able get a source of income so you can determine your cashflow and know how much will be left for discretionary, and how to allocate these amount to your investment, savings, emergency and maybe discretionary expenditures.

At least for someone who wants to go into bitcoin investment, getting a source of income and being able to sort out your investment fund is valid, so folk will be able to accumulate bitcoin at their own financial pace. I don't know about other opinion but from my point of view, i don't think getting to the market charts and knowing how to react to each market chart make you less of an investor, an investor who is conversant with bitcoin chart buys bitcoin with understanding, while an ignorant investor buy bitcoin with hope on it potentials, knowing the chart doesn't necessarily makes one a trader and/or gambler, but if you read the chart to buy bitcoin tomorrow and sell that same day or in a more shorter period, you're a gambler, but if folk can read the chart and buy bitcoin cheap today and hold for longer period of maybe 5 years and above and/or depending on folk definition of their long terim goal, i guess that still keeps you within the framework of an investor.
I don't know much; still learning from y'all on here. If you've got any other idea contrary to what I think, I would appreciate knowing about it.

Instead calling those that buy bitcoin with time Frame of not beyond 24 hours to sell as gambler, we should call them day trader's instead is more professional that way because this are the key factors one need to know to make a better day trade position instead taking risks that keep them at loses.

Instead of buying Bitcoin on the Spot market for a short-term period of 24 hours, isn't it better if I put that fund into leveraged trades where I have chances of increasing my total holdings by X and opening up the risks that come with it?

[Amphenomenon]

-Snip-

Instead calling those that buy bitcoin with time Frame of not beyond 24 hours to sell as gambler, we should call them day trader's instead is more professional that way because this are the key factors one need to know to make a better day trade position instead taking risks that keep them at loses.

Calling this trading is fair but some trading can goes for months like swing trading. Speaking of gambling in trading, Op is missing some points while trading has an higher level of gambling than HODLing there are knowledge that will help reduced the risks when applied properly.

Instead of buying Bitcoin on the Spot market for a short-term period of 24 hours, isn't it better if I put that fund into leveraged trades where I have chances of increasing my total holdings by X and opening up the risks that come with it?

You realize that this poise a greater risks for anyone who opt for it and ironic as it seems this is among the major reasons for bankruptcy or acquiring a great lost in the crypto space, and why many advise against trading.

[Gozie51]

....knowing the chart doesn't necessarily makes one a trader and/or gambler, but if you read the chart to buy bitcoin tomorrow and sell that same day or in a more shorter period, you're a gambler, but if folk is able to read the chart and buy bitcoin cheap today and hold for longer period of maybe 5 years and above and/or depending on folk definition of their long terim goal, i guess that still keeps you within the framework of an investor.

There is this misconception about trading being same as gambling but it is not true. You might be looking at the risk of increasing your appetite for higher profit to be gambling and greed but the real chart analysis of trading if followed properly, it is not gambling. Again, staying in the market for a shorter period should also not be seen as gambling because you can be in a short sell and make your target for the day.

I don't know much, still learning from y'all on here, if you've got any other idea contrary to what i think I will appreciate to know about it.

I don't believe trading is gambling if you follow the ropes of trading which are, patient, emotional control, follow your strategy and chart, take reasonable risk, don't trade against your winning strategy etc .

[Barikui1]

. I don't know about other opinion but from my point of view, i don't think getting to the market charts and knowing how to react to each market chart make you less of an investor, an investor who is conversant with bitcoin chart buys bitcoin with understanding, while an ignorant investor buy bitcoin with hope on it potentials, knowing the chart doesn't necessarily makes one a trader and/or gambler, but if you read the chart to buy bitcoin tomorrow and sell that same day or in a more shorter period, you're a gambler,

These are just the temptations of knowing how to read the chart, because when you knows how to read the price chart, you will see a reason why now or later is not the best time to buy, but those that are totally ignorant on how the price chart moves, they will easily buy without adding any logic to it, which is the main reason people feels like those that knows how to read the chart will hardly be a good investor, because it's only few of those that are very good at reading the chart that will not try to outsmart the market by waiting for it before buying.

[BluebloodCXVI]

There’s nothing bad in studying the bitcoin market chart as long as you don’t allow it to make you obsessed about predicting every market move and push you into unnecessary trading or make you abandon your original investment strategy
There needs to be some sort of balance between understanding the market and maintaining a disciplined investment approach, this balance is what determines wether you can be classified as an investor or a trader

[PostQuantumBTC]

You do not really need to study the chart could be what the people are saying but it is important you know bitcoin all time high and the price it ass fallen to before you start investing.

Some people are not really encouraging much technical analysis knowledge before investing especially if they are advising you to use DCA.

[Marvelockg]

I don't know much, still learning from y'all on here, if you've got any other idea contrary to what i think I will appreciate to know about it.

if you are not into trading, you have little to no business whatsoever studying charts because it has no practical application as far as you are only interested in your long term investment plan.

As a newbie investor, your key goal is to ensure that your finances are well structured and that no form of loopholes can come in the way while your investment journey continues.  if you get it right in terms of allocation the right amount for your investment and ensuring that your emergency fund is also well chartered for, regardless the direction of the chart, your asset will continue growing.

[Abbatty]

There’s nothing bad in studying the bitcoin market chart as long as you don’t allow it to make you obsessed about predicting every market move and push you into unnecessary trading or make you abandon your original investment strategy
There needs to be some sort of balance between understanding the market and maintaining a disciplined investment approach, this balance is what determines wether you can be classified as an investor or a trader

For an investor I don’t really think there is need in checking the chart, especially when you are accumulating with the DCA strategy. We all know when you are accumulating with DCA, your worry should be about how to get enough discretionary income to accumulate more. Well you still right, there is nothing wrong with checking the chat so long you don’t allow it to affect the decision you make.

The main reason why it is not advisable to be constantly Checking the chat is because we are humans and we can easily get emotional when we see our holdings dropping, so to avoid all these emotional stuffs it best you entirely stay off the chats.

[Sticky Bomb]

an investor who is conversant with bitcoin chart buys bitcoin with understanding, while an ignorant investor buy bitcoin with hope on it potentials, knowing the chart doesn't necessarily makes one a trader and/or gambler

Knowing the chart and making investment decisions based on the charts are two different things.
Another thing of importance is the strategy you're using to buy and hold.
If you're unto NCA(Naira cost average) which is ideal for newbies, then you should buy consistently whenever you've discretionary income available, the goal of it is to buy periodically, irrespective of market movement, buy the highs and lows and arrive at a smoother average buy price and a good stash of bitcoin.

If you're buying the dip, then you can make your investment purchases based on market movement. You should beware that waiting unnecessarily can make your investment journey delay and you can end up with fewer coins.

Knowing the charts is more like expanding your knowledge base about bitcoin, it does not necessarily affect your investment journey unless you use it as a basics for your investment decision and maybe, you'll be gambling on the price.

[EarnOnVictor]

I believe this is coming from you due to how some people paint those who use the chart as traders, right?

Well, believe what you want to believe, but I would advise everyone to do what works for them. If something has helped me mostly in my Bitcoin investment, that would be my trading chart. This has distinguished me from a casual investors who's brains are filled with what they see online, but to be seen as an investors who understand himself, Bitcoin, and knows what he wants and how to go about it.

This is smartness, and it helps me know about the time to invest in Bitcoin and divest appropriately. This has saved me from the loss of initially made profits, and more reason why holding my Bitcoin forever is no more my things because, if you are smart, you would have ended the trade at the top, and when it falls again, you would reenter at the low to make more. That's smartness to me.

[Itz-prisigold]

I have said this before, I don’t see any reason why someone whose main intention is to hold for long term should be constantly studying the chart. If your original plan is to accumulate Bitcoin for long term, I don't see any good reason why reading charts should be a major part of your strategy. All you have to do is just follow DCA strategy, and purchase regularly based on your financial means without worrying yourself too much about the perfect entry.

And another effect about constantly studying the price movement, sometimes it can put you in an uncomfortable situation when the market begins to move against you.  It might get to a point where you’ll doubt your approach,  or make decisions that are driven by fear instead of following your original plan.

[Davidloki]

~snip

You must not be well grounded in your knowledge with bitcoin before investing. It is mostly for traders that focus on studying the market and analyzing sentiments for trading, long term investors do not need to know about all of this before investing in bitcoin.

An investor and a trader are two different people, thwre should always be an awareness and a plan before investing, you do mot go blindly into an investment without a plan. There should be a duration for the investment, mostly long term and also a plan for short term trading too.

[Humblevirus]

lately i've come across folks replies on here that says, it is not really necessary to get to know about how bitcoin moves before one can start to invest in bitcoin as long as you want to take bitcoin as an investment, others replies i have come across where saying, knowing how the market actually move will make you want to start predicting the pmarket and you eventually start trading or gambling your money, which i know that no one actually knows the market next move, what most of the bitcoin analysers do is speculation and some says, all you have to is to be able get a source of income so you can determine your cashflow and know how much will be left for discretionary, and how to allocate these amount to your investment, savings, emergency and maybe discretionary expenditures.

At least for someone who wants to go into bitcoin investment, getting a source of income and being able to sort out your investment fund is valid, so folk will be able to accumulate bitcoin at their own financial pace. I don't know about other opinion but from my point of view, i don't think getting to the market charts and knowing how to react to each market chart make you less of an investor, an investor who is conversant with bitcoin chart buys bitcoin with understanding, while an ignorant investor buy bitcoin with hope on it potentials, knowing the chart doesn't necessarily makes one a trader and/or gambler, but if you read the chart to buy bitcoin tomorrow and sell that same day or in a more shorter period, you're a gambler, but if folk is able to read the chart and buy bitcoin cheap today and hold for longer period of maybe 5 years and above and/or depending on folk definition of their long terim goal, i guess that still keeps you within the framework of an investor.
I don't know much, still learning from y'all on here, if you've got any other idea contrary to what i think I will appreciate to know about it.

Most of the posts that I come across about chart knowledge are just trying to explain why people should avoid constantly checking charts after investing. This is because it can make some investors start trying to predict the market and change their decisions about long-term holding, eventually leading them to start practising trading, which we all know is very risky and requires deep knowledge before someone can get involved. Otherwise, they are likely to lose their money.

Another reason most people advise newbies to focus less on chart knowledge is that it may delay some investors because they will keep trying to time the market as  they have the knowledge which can make them miss opportunity, because Bitcoin price is unpredictable. So, it is not that having chart knowledge is bad, but what many investors are trying to explain is that it is not really necessary if your goal is to invest for the long term

[ruykeri]

The volatility of the bitcoin market can never be understood by analyzing the chart and it is not possible to predict it. And who will trade or invest in bitcoin depends on the decision of the person who is investing. Now if someone wants to get rich in a short time then that person can never be a long-term investor. Those who are investing in the long term are also regularly aware of the price of bitcoin. But they do not change their decisions. They give more importance to regular accumulation which makes their long term holding even stronger. Now if your intention is to invest in the long term then you should create your discretionary income stick to the decision of regular accumulation and give importance to creating a backup fund. You can look at the chart, but be careful that your mindset does not change as a result of looking at the chart. If you do not have this control then you should not invest at all.

[Moreno233]

Buying and selling Bitcoin within a shot period of time called trading and those who do that are called traders and not investors. Investors are those who buy and hold Bitcoin for a long time, they are not looking for fast profits and not perturbed by the fluctuations that characterise the market. There is nothing being either or both of them, some people do that perfectly well by knowing how to manage the funds properly so that the investment money will not be wasted in trading.

[ZeroVinsonN]

OP as far as I'm concerned the more you know the better and investor you will become but you actually need to be buying and holding to be an investor because no matter how much bitcoin knowledge you gather, if you are not actually holding bitcoin then you are not a bitcoin investor, you are just an enthusiast who can't make up their mind on investing. This is why you will see people pushing more for you to actually start buying bitcoin then for you to just spend you time gathering knowledge on how to buy and on how bitcoin works without really being.

Also checking the charts regularly is different from gathering knowledge because if you are not trying to buy at that time then what's the point in checking to know what the price is? You investment should be long term so price changes over a few hours shouldn't be your concern unless you are afraid that the price will go below what you bought (which is very likely to happen) anf that will can make you sell it you see the price move in the negative direction.

[Johncarter14us]

Reading this was quite challenging but what you're trying to say is if you buy bitcoin and sell within a short period that makes you a gambler, that's a No. Buying bitcoin through chart speculation is trading not gambling.

You can be an investor in bitcoin without having all the knowledge in the world. Simply buying bitcoin and holding for the purpose investment makes you an investor in bitcoin.

You must not have all the knowledge to become an investor, simply having a goal to invest and actualising it makes you an investor so it's safe to say trading, investing and gambling are not same thing.

[Nathrixxx]

Any Bitcoin investor who understands the market chart to a reasonable extent shows that they can be a good fit to be a trader, and if you have already developed interest in this area, I don't see it as something bad to engage in trading and make some profit from it.

But if yours does not apply in the same way like this, why not learn and build up yourself with the competence to know how to make an entry into the market and invest, then hold until the market is rising before you could sell in profit, which is an alternative to trading when we choose to be a long-term investor.
.

[Hatchy]

but if folk is able to read the chart and buy bitcoin cheap today and hold for longer period of maybe 5 years and above and/or depending on folk definition of their long terim goal, i guess that still keeps you within the framework of an investor.
I don't know much, still learning from y'all on here, if you've got any other idea contrary to what i think I will appreciate to know about it.

I don't know how much information you've told about this, but it's not accurate. Being able to read charts gives you an extra advantage over other investors. It doesn't make you superior, but it helps you study price movements and understand when to make your moves. It doesn't make you a gambler unless you choose to take risks without a good reason. One thing I'm very sure of is that long-term investors don't necessarily need this skill. Understanding the market, knowing how to invest and learning how to store your coins safely are enough to keep you on track. The main goal is to protect your funds, especially since we have full control over our coins in the crypto space.