Does knowing Bitcoin Chart makes you less of an investor

[Sammye3]

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.

Financial management is very important, both as a trader and as an investor. I would aways wonder why people would panic when the price of bitcoin drops. Is it because of the small amount they invest, and they fear liquidation? Or they are not emotionally contained enough to handle the volatility of the market?

It is advised to always have a plan before starting an investment, even though there is no strong  knowledge about what bitcoin is all about but a strategy would give a sense of direction on what type of investment one is going into.

[Biggeno]

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.

I later found out there was a lot of typo error on the original post which I fail to edit, sorry about the difficulty you experience while trying to assimilate what is on the original post.

I never said it is a compulsory prerequisite to know all about Bitcoin before folk can start investing in Bitcoin, the most important thing is to be able to get your discretionary fund available for investment and how to buy and safely secure your bitcoin. I said getting these knowledge afterward, maybe after you’ve already started investment isn’t a bad idea, it makes one a better investor, that buys bitcoin with understanding and makes precise decision, not just relying on Bitcoin potential

[EjiukaSpecial]

It's one thing to have a very good understanding of the market and a very different thing to trade every movement of the market. One can be very good in technical analysis and still choose to be a long-term investor, it doesn't take away anything from him, instead, it gives him an insight of the market chart even when there are no intentions of becoming a short-term trader.

Where it becomes an issue is if the focus changes from long-term to every little movement of the market and allowing your decisions to be based on emotions because you you understand short-term trading movements. Being aware of why you bought Bitcoin in the first place as an investor and sticking to it will save you from a lot making fragile and unnecessary unnecessary decisions.

[Cryptomultiplier]

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.

Financial management is very important, both as a trader and as an investor. I would aways wonder why people would panic when the price of bitcoin drops. Is it because of the small amount they invest, and they fear liquidation? Or they are not emotionally contained enough to handle the volatility of the market?

It is advised to always have a plan before starting an investment, even though there is no strong  knowledge about what bitcoin is all about but a strategy would give a sense of direction on what type of investment one is going into.

A strategy is the first step that comes after learning risk management practices involved in Bitcoin investment. The strategy here could be DCA strategy of investment which makes an investor not bothered about the price movement but more about their commitment in fractions to meet their quota over a long term duration. This assures better returns than trying to day trade or swing trade or leverage trade as the case may be.

While even talking about investing in Bitcoin comes the most fundamental part of holding it in a secure self custody wallet that should be safe from hacks and immune to scammers and invisible to wrench attacks that may want to steal the investment so much laboured for.

[Makus]

The reason why a lot of investors avoid learning how to read the charts is because they don't want to overthink or stress themselves whenever they is a change in the market, they just want to simply invest for a long term and grow their investment. Knowing how to study the charts doesn't really make you less of an investor it makes you more learned but I don't think it's mandatory for an investor to learn how to read the charts, you could learn this but it's not really of much importance, only traders take this seriously.

[Creeper0]

It is not that looking at charts will make you an unqualified investor. If you have read such comments somewhere, then you have read it wrong. Even if you look at charts, you will not become a trader or a short-term investor.

Yes, it is true that a new investor is advised not to focus on looking at charts. The reasons for this are -

• It is unnecessary and a waste of time for a long-term investor.
• Possibility of being affected by market volatility.
• Possibility of wasting time in buying.
• Possibility of FOMO during market decline.
• Possibility of losing control in market fluctuations and creating temptations, etc.

You can tell how looking at charts affects you. Suppose the market is going to fall, at this time you can be influenced and wait for more declines. This wastes time and can ruin buying opportunities. When the market is bullish, the temptation to make profits can be created in your mind. This creates the possibility of losing your funds before reaching your goal and you could become a failed investor.

[Myleschetty]

Make una hear this.
Possessing accurate and comprehensive information is essential if you aim to succeed in any environment.
Knowledge of charts does not inherently disqualify you as an investor.
What's crucial is how you utilize the information and your understanding of chart analysis.
You might choose to look at the chart for Bitcoin's lowest price in this year's Q4 market, buy some, and hold for several years; you're still investing. Alternatively, you might decide to buy now and sell tomorrow or next week for a quick profit; through trading (or gambling, depending on your skill and risk management). Therefore, the statement made by the people you mentioned is true because once you start watching charts regularly, it's easy to fall into the category of short-term investing through FOMO, panic selling, or trying to time every price dip.
This mindset gradually transforms long-term investors into active traders, and most end up losing money that way. However, the knowledge of chart reading itself is not the actual problem. The issue is how you understand trading, BTC market cycle, and whether you are mature enough to make the discussion of using it to your advantage, using DCA for investment, smart money concepts for trading, etc.

[Brizi5000]

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.

Knowing bitcoin chart’s doesn’t make you less of an investor but you’re more of a trader. Knowing about market chart doesn’t mean that you can predict correctly what the price of bitcoin will be, everything is just speculation based on previous events which do not guarantee or determine future or present price. Most investors don’t want to bother themselves about studying the market which still do not determine the future because bitcoin behaves in such an unpredictable way and that’s why they focus on buying bitcoin whenever they have a discretionary income irrespective of the price.

[Pi-network314159]

Knowing Bitcoin movement or charts doesn't makes your more or less of an investor, rather it prepares you ahead of the possible outcome in the future, that is if you are wise and not the other way round. becoming a trader or gambler is by choice. Knowing Bitcoin dynamic it's important, that will make you understand what you are doing and not following the crowd with zero knowledge. Many knew about Bitcoin and decided to gamble with it and some knew about it and took advantage over it by investing without looking at it's movement. So there will always be an individual difference among people regardless of their knowledge about a particular thing.