Topic: Bitcoin is not a quick rich and get poorer investment. - page 3. (Read 1746 times)

People who think that way about cryptocurrencies and the investments made in this industry are the ones who are misguided and have a misconception about the whole market. They see news and stuff about how some people have managed to become millionaires after making small investments in cryptocurrencies, but they don't have any idea about how that happens, it is stories of some of the meme coins that have managed to provide great profit to their initial investors which then becomes a motivation for a lot of people to become cryptocurrency investors.
Someone who learns a little bit about the industry will come to know that trading is not a get-rich-quick scheme and it is just that some people get lucky and manage to earn significant returns in a short period while others have to work hard to earn money in this industry.

That's when the price can reach an all-time high and then become a correction then the mentality that is needed now, this is not a bad goal because of the decline because such is common in the bitcoin market with high volatility then patience will determine your future when investing in bitcoin.

Never assume your investment in bitcoin will be rich in 1 or 2 years, it's impossible.
Make sure you always survive in any condition because we believe bitcoin will always reach a record again.
Set your target when it reaches a long time, then this is at least the way you can take a pretty good profit opportunity.

People just need to know that trading and investment depends on how they manage their funds.
If they couldn't manage it properly or doesn't know what they are doing then the outcome is almost certain that they would only lose in this field.
Investment and trading couldn't make you rich in just a short spam of time it takes time to learn and surely it would take some time and experience to earn from it.

There are still many people who do not understand or know about Bitcoin, but for businessmen who understand Bitcoin, there is no doubt that they will really invest in it and hold it for a few years, depending on how much Bitcoin they will sell it for.

Maybe when they meet their main profit target, they will sell, but there are also some who, even though they have seen many people buy it, it is still not proof for them to believe. Well, it's their choice, not our loss, that's all.

In general, investing is not a get-rich-quick scheme, it takes time, patience and a strong mentality to achieve the target of the initial goal when investing. So far, Bitcoin has proven that it is able to overcome all the negative issues that have befallen it by printing the latest ATH in early 2024. As long as you still believe in the potential generated from Bitcoin and are an investor who is able to refrain from all aspects that could damage your initial plans, you will be able to add to your list of wealth from the profits generated in the future.

For quite some time the price of Bitcoin has only been rising and increasing regularly it crossed the ATH and for the first time Bitcoin crossed $73.7. Now bitcoin needs correction so bitcoin price is correcting. Bitcoin price has dumped a lot today dropping to $63k. It is likely to go back below $60k again very soon and then the price of Bitcoin may stagnate for a bit and then pump again. And maybe break the $100k record. So you should not panic after seeing the correction.  Anyone with bitcoin holdings should hold tighter

If you do not dare to take risks and like safety, you should only choose bitcoin and bitcoin is the only choice. If you like the thrill of riding a roller coaster to earn bigger profits then altcoins are the choice. To me, altcoins are almost the same, they are all used for speculation, no project brings real utility to us and has a clear purpose like bitcoin.

I am also investing in altcoins but I have never looked at them long term and trusted them enough to invest long term with them. To put it bluntly, investing in altcoins is like gambling.

While this correction is still happening and it is confusing to see that many people are still buying coins other than BTC, especially those that do not have full fundamentals, the bad effect is that the more they buy it the more the price drops. Of course. At that time, it was a dilemma to make decisions amidst unclear market trends. But, what is important is that we do not choose projects, especially projects that have no utility or utility in the ecosystem and are not worth investing in.

In the long term, Bitcoin is an asset that requires patience to reach high prices. If you hope that the price will rise overnight and you can get rich by investing in the short term, that doesn't happen. You have to be good at reading and understanding the market. You have to look for the latest information. If you are sure, invest in Bitcoin immediately. and always monitor prices in the market to make a profit.

You're right nothing will makes someone just richer over night without not just Bitcoin investment Bitcoin can be a risky investment, so it's important to think carefully about your goals and your strategy it can falls over night and you will lose a lot If you're investing it's good to think about what kind of investor you want to be a risky investment strategy that involves frequent buying and selling

Earlier, people had the misunderstanding that bitcoin was a quick-rich scheme. During those days, there was not much awareness, and people were easily scammed. In the past, there were people who got lucky enough to invest at the right time and enjoy a good profit. Looking at them, many people expect the same to happen for them. This is completely out of reality, and many lost their funds. During those days, multiplier schemes were also common, but very few realized those schemes were traps. Bitcoin is a make-you-rich scheme when one has the ability to hold and stand with what is available.

Trying to get rich overnight by investing in Bitcoin is like throwing a rock in the dark. You should have a target of at least 4-10 years. Just you will be think that it's not only a investments but also Like sowing the seeds of a dream. It will be best for you if you can buy bitcoin on DCA on weekly or monthly basis.

We have two type of investor, to shot term investors and those long term investors, shot term investors are those who only target when bull run is coming and they try to take advantage of that market they buy after two to 3 weeks or months they sell off and take home little profit.

Those who have plans to get more profit from bitcoin don’t even put their mind in it, what they focus on is how they can be able to gather more bitcoin over time before particular period of time, the price before then is not really their concern but the volum they can be able to gather is what they really care about, and that’s how investors make big plans, most of them rate their profit base on the number of bitcoin they hold and future the price in 5-10 years from then.

Reading from the first page to the 5th page, everyone here is absolutely correct in there contributions it shows that we all have almost the same perception about Bitcoin.

Bitcoin is not a get rich quick scheme and can never be, most of the people who thought it was have learnt their lessons in a very hard way, like every other good investment one shouldn't be expecting his or her returns in a very short time. most of the people who thought Bitcoin was a get rich quick scheme in recent time was a result of hearing stories of how Bitcoin have been giving of people money and have turned them millionaires over night and hence they rush to try out their lucks and it falls them.

If anyone must know every too good to be true project, or Investment always lead to scams, Bitcoin have lasted over a decade plus and yet it has been proving it's self which means fr one to achieve from something that has over 10 years experience then that person must take his or her time to learn the Bitcoin how it works to achieve from it. even in real estate investment you have to wait for years to Begin to enjoy your profit here in Bitcoin if you purchase in the dips, after like 4 years you could get a nice return that could make a whole meaning in ones life.

The most important thing when you do make an investment whether in crypto or in traditional methods is that you should really be that making that basic research or information about it on which it would really be just that a common approach. It is really just that there are people who arent really that mindful about taking up those steps and would really be carelessly making out those kind of decisions without having those risks consideration until they would really be able to experience those hardships then this is where it would usually be kicking in.This is why it would really be that on important consideration before you would really be making that further step.
Invest on what you can afford to lose and dont bet or make use of your life savings or emergency funds through it so that whenever the prices or condition turns out to be negative then you wont really be that making yourself that too stressful or becoming that too worried with your investment. It would really be just that an basic approach but honestly not everybody could be able to follow it.

 Recently I had the opportunity to communicate with different people and I will say that not everyone strives for mega profits, there are quite a lot of people who will prefer more conservative investments to risky ones, and it does not matter that other more conservative assets will grow more slowly, it is important for them to sleep peacefully when they won’t worry about the high volatility of their investments and won’t worry that tomorrow there will be a bear market and they will need to do something to maintain their profit.

Let's not deceive ourselves that Bitcoin Is not an investment. Even though The original Purpose Of introducing Bitcoin Is to serve as a means of payment, but how many persons today are honestly using Bitcoin as a means of payment? You cannot deny the fact that Bitcoin has helped many as an investment rather than just a means of payment. People Are beginning to see an extra value attached to bitcoin, hence the need to earn from it.

What we should rather be talking about now is that we should not see Bitcoin as a get rich quick scheme. This is the reason many investors lose their money.You cannot say You want to earn from Bitcoin and invest today  then  expect that investment to mature The next day. For you to earn You must be willing to hold for a very long time. Bitcoin can only be profitable if you are ready to hold. Aside just being willing to hold for a very long time, you must also be disciplined and never tempted to withdraw Your investment prematurely.

Bitcoin is a currency, at the same time it can be consider to also be an investment by holding bitcoin for a longterm. The reason  why bitcoin is different from fiat is because it has many features, like it can be use in exchange for goods and services,  it can also be used in trading , it can also be used as investment. The mistake people do make concerning is that they think bitcoin can make them rich just like that without having any source of income.

As an investor you have to be optimistic, you need to have the gift of foresight, to be able to see what others don’t. Investing ain’t all about the money, though the Capital is one of a major factor for an investor, but then not every deal is worth striking.  Some deals are better off not to be struck. It not that the money isn’t there but then having considered all the necessary loose ends it best you just let it slide, same thing implies with bitcoin. Investors look for an opportunity to strike, some follow their instincts while some after proper evaluation seek for nice entry. As we all know there are no guarantees while investing, it’s either you win or you lose. Some lose while some win, it all part of the process. It can be as an opportunity for others and a disappointment for another.  
 However one need to be optimistic about what the future brings and be realistic to know that you may not be there to see the light at the end of the  tunnel. Bitcoin investment needs the effort one need to put proper work into knowing how the market goes and the news affecting the market. Ignorant buys will cost a lot and it might be start of  your downfall. Information is key, and it never fails unless it being manipulated by someone. But once your do your research on something, anything you have the upper hand and likely to succeed in that thing. So yeah ! It is important to do your assignment first before making any moves on anything.

I do see bitcoin as an investment to become a millionaire , and it's a shame that I don't have a lot of money to have invested before, but it is a reality that things are different every time bitcoin rises in price because everyone wants to have bitcoin and they don't I blame them, it is one of the most understandable wishes that can happen, but when Bitcoin is low in price, the majority don't even approve it, the price keeps going down and what they do is support eel fud and they say that they don't trust bitcoin much. You have to have trust , and have a lot of intelligence to buy when it is cheap, at this point you have to be enjoying the benefits it can bring, but if there is money I think it is not too late, $73k is the closest ATH, but this is a price that is going to rise much more.

It is presumed that it could reach About $80k this week, but all of these are Possibilities  , you Cannot rule out that great possibility that is so beautiful.