Topic: Newbies take bitcoin as long term Choice to get the best out of bitcoin (Read 661 times)

Just to add to your story, I remember back in 2017 when the halving happened, the price of BTC jumped from $4,000 to around $19,000 at that time and people started discovering BTC due to various news being spread across all social media platforms. Due to the halving, lot of people invested into BTC without even knowing what it is in the first place. Basically, their FOMO made them invest onto something that they barely new.

Long story short, majority of these people who invested lost their money since the price came down to around $15,000 at that time. The unfortunate thing is, these people who lost their money due to FOMO are the very same people who started spreading fake news on social media platforms saying that BTC is a scam, etc.


The moral of the story- learn the basics first and understand on what you are investing in. If you invest into something without fully understanding what you are buying in the first place, you will most likely cash out your investment sooner resulting to a loss on your part.

Learn and enjoy the process of investing into BTC. Again, investment does not guarantee positive results but if you do your part as a diligent person would do, then expect great things to happen in the near future.

Funny enough, many newbies have misconceptions of bitcoin, they think that investing in bitcoin brings financial breakthrough on their side, forgetting to note that bitcoin doesn't provide much for someone who's in a haste to make riches out of their bitcoin investment, not ready to wait for so long and above all be patient to hodl through the bearish market without feeling naive of being at the loss side.

Many, have sold their bitcoin at a loss price because nobody breaks down the basics of bitcoin to them. Thanks to this forum, that got many of us enlightened about the concept of bitcoin. Like what should be done and expected in the journey of hodling bitcoin, other than buying at a discount price and sell at high price. At least many of us are using every market situation(bearish or bull run) to our advantage.

Knowledge is Power for Newbie Investors in understanding the true meaning of investment. Newbies need to improve their mindset when looking for information on this forum after making their first investment, they should look for information first before investing. The thought of wanting to achieve financial freedom through Bitcoin investment in the short term needs to be dispelled because there is no guarantee at all of getting maximum results. They need to set realistic goals with a focus on a long-term mindset, if their interest in investing in Bitcoin is only for short-term financial freedom it will potentially damage their finances more quickly due to not being able to make the right decisions.

The truth is that a lot of us started our Bitcoin investment from the premise of quick profits, the hype and what have you. This comes with great deal of mistakes and learning on the process and those who are able to persevere will usually become smarter and better prepared for any eventuality in the course of the investment. I'm not saying it is the best way to go about Bitcoin because getting the right mindset from the beginning which is understanding that Bitcoin is a long time asset will eliminate some kinds of mistakes that we made as newbies such as selling so soon, FOMO, listening to fud and what have you.

Sometimes newbies need to experience to invest for short term and long term since by this they can determine on how they can handle well their investment. Especially if they face certain issues that need to look forward or learn from. Because if they do short cut and just hold maybe they would installed some wrong information in mind that holding is all about positive and 100% sure that they can 100% earn some profit. Since in reality we need to deal with multiple risk especially the volatility if they didn't experience that for sure this new investors will be in bad situation since for sure that they provably don't know what to do and afraid that there money will melt more in value.

For sure long term investment is really good if we base it on statistics, but they need to be a knowledgeable long term investors so that they can make all their plans succeed and all their efforts will be paid off especially if the price of bitcoin would reach for another new all time high or 6 digits in figures which a lot of investors want this to happen.

One thing about bitcoin if you see volatility of the dip as a threat, as something you don't deserve or shouldn't happen then it impossible for you to invest and hodl bitcoin. As far as bitcoin is concerned the price will always drop and go up, this is why bitcoin is good when it is longterm investment,  so that when the price falls you just need to wait for it to increase again.  Investing in Bitcoin is about good patience and understanding.  The fall of price is an opportunity to buy more bitcoin,  when it happens like this it means one have to wait for the price to come up.

Investors needs to understand this very well and never to be panic when the price of bitcoin falls because this is the nature of bitcoin. You just need some patience and understanding the fall of price bitcoin don't last forever.

It is common knowledge that people want wealth from the investment process carried out in bitcoin, but sometimes they ignore the process. The case of borrowing money and then pursuing investment in bitcoin is bad behavior because it talks about price fluctuations and loans have a series that needs to be carried out in accordance with applicable regulations. In fact, if they try to invest responsibly in small amounts, applied consistently it will also provide assets that increase every time.

If the case involved in bitcoin uses their own money and they have a large level of income then the disappointment will be covered by the knowledge of getting to know bitcoin properly. Bitcoin has strength in the long run and all one has to do is hold on and be patient. Building an investment is not easy because we will be faced with risks, but once again if people are able to control these risks will not cause problems, especially investing in bitcoin.

This is a valid point that no one is talking about, Crypto YouTubers are giving  people false hopes, saying how to become a millionaire in 2024 by investing in crypto, which isn't always so true, this is one of the reasons why many beginners are in haste, and once they failed to get the expected result they lose confidence and sell their bitcoin.

Too much misleading in this space if you ask me, and beginners also have their problems too, they lack patience in everything, they can't do research right, and some of them will want to invest in Bitcoin but they want quick returns, and some of them sees altcoins as the better option, no matter how you try to confuse them that Bitcoin is better they won't listen.

They somehow believe that alts are still cheaper and they can also make more money from altcoins, they aren't completely wrong, but the problem is they will do all mistakes available with altcoins investment because its note easier to lose money in altcoin than anything else. 

Thanks you very much, yes it is an obvious fact considering history of Bitcoin from when it was created till now, it has shown a lots of increase in value such that those that bought for about 5 ago and has a lot of of Bitcoin size  and has held  till now will surely be in good profits, it is very good to build Bitcoin investment for long term and that is when you will know the true value of Bitcoin.

I choose Bitcoin for long-term and short-term, and I sell them without hesitation if ever the price hits my goal. To ask when to sell? There is no perfect answer when it depends on your target price. What is important is that we are certain of our goal and that is to make money, not to lose. If we follow this simple rule "Buy low and Sell high", the market can assure us that we can make money from it. But if we are too impatient, this is impossible, the results will only just hurt if we push through.

That is why a good market understanding is hereby required in the sense that this will guide us in good decision-making and strategies.
As we choose Bitcoin, therefore, we also help ourselves to become responsible and accept the fact that this is not a quick-rich scheme.

Most newbies are interested in investing in Bitcoin because of FOMO and wanting to get rich quickly. The profits obtained by other investors are their motivation to invest in Bitcoin even though they don't have the right knowledge on how to invest. The mistake that newbies often make when investing in Bitcoin is jumping straight into making decisions before having basic knowledge about crypto, this type of newbie is very easily carried away by the hype. Bitcoin investing is all about opportunity, you have to educate yourself to make a rational decision about what to do before jumping in headfirst.

Another thing that will make newbies not to get what they desire from bitcoin investment is when they invest all their money in bitcoin with the hope of getting rich soon and without making provision for an emergency fund. When an emergency arises, there will be no funds to use to solve it; they will have no choice but to depend on their bitcoin investment to solve the emergency. Secondly, when newbies fail to get what they desire from their bitcoin investment and the price of bitcoin dips, they will be forced to sell their bitcoin even though they are at a loss. 

The problem with newbies right now is that they don't have enough patience to wait for years in order for them to get profit.
This is also the reason why whenever I introduce Bitcoin to other people, I always say at first that "If you want to maximize the profits that you can get in investing into Bitcoin, you need at least wait for 2-3 years at least. If you want to earn profits a bit faster, go trade."

Whenever I say the bolded text to newbies around me that are interested into Bitcoin, they just simply back out because they can't wait for years to get the profit. I also say to them that in 2-3 years' time, you can double or triple your money depending on the time when you are buying it which is true, right? You bought in the bear market, 2-3 years from now your initial capital already tripled. Not certain though.

At the end of the day, I don't want to generalize newbies, but most of them doesn't have the patience to wait hence, they don't want to invest into it. They want quick bucks, but they don't know the risks. They want easy money, but they don't want to learn. They want profits as fast as possible, but they aren't willing to spend a little bit of their time researching.

Yeah, no kidding.  The new people in crypto seem to think it is some fast cash grab fueled by those FOMO moments when prices spike up quick.  Then suddenly the bear market hits and all those dreams crash hard, and  dollar cost averaging can definitely help, but trying to perfectly time when prices peak is pretty hopeless.  Bottom line is crypto should not be anyone's only income stream, point blank.  You really gotta learn the landscape before you start betting money you need for real bills.  Professional traders are a different story, but those guys built their knowledge and experience the right way, not with YOLO bets.

Certainly yes. Long term hodling is quite a struggle for those who are here to make quick profits. That’s the reason why majority of newbies end up investing in altcoins because they can make short term profits which is not possible with bitcoin, as long as they come to invest with the potential altcoins.

However, it also depends on how far your knowledge acquisition with bitcoin. Because if you know bitcoin well, you would not mind investing in it for long term because there are also high chances that you will end up reaping massive profits. But for those who invest without knowing, expect that they are more quick profits driven, and with this type of mindset, it will be hard for them to make decent profits in bitcoin.

This is great and nice to hear that from you and your first paragraph was dope I must say, but then just a few confusion in the last paragraph which is the part I quoted above.


The main question is, when is the best price for the newbies to cash out as you mentioned top of the price.


Which price is actually top?

First of all, there is no fixed time to when the price might go up and again their is no assurance to know if the price will go up in the time frame you took the loan so the option of collecting loan is a definitely a NO NO. Bitcoin is the best crypto out there and it has proven this time without number so what anyone needs to do to get some good vibes off their investment is to actually go for a long term investment rather than taking huge risk of collecting loan when you know the price is always volatile.

I mean it's a basic thing that most of the newbies have as a problem having the wrong mindset thinking that cryptocurrency and Bitcoin is just a easy investment, where you could just put your money on it, wait a little bit, and cash it out, most of the newbies get this mindset most of the time when they enter the market in a Bullrun because of FOMO, since at Bullrun most of the cryptocurrency are just having a long rally of increasing its market price, newbie traders thinking that it is just how the market works, and it's going to be easy money for them, then when they experience the bear market everything came down to realization and now they lose a huge amount of money in the end.

My advice here is always go for dollar cost averaging since it's going to minimize the risk of your investment, it was just like you saving money every week but you are just putting it on Bitcoin, as long as you are going to sell it on the top of the market you're always going to make a profit out of it, one thing that I've realize as well the hard way is to not make cryptocurrency investment as a main source of your income, because your just gonna end up losing money, if your going to do that in case of emergency if you doesn't have other income your going to sell your investment at a wrong timing.

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Whether they choose to trade or just hold till the price appreciates, they still need to be patient and committed to see results. What difference will it make if an unserious newbie goes into trading just to make quick money and at the end he runs away because he has no discipline in him. Not everyone will trade, if they are comfortable with just investing alone, then it's totally fine, provided they truly understand what they are really investing in and what it takes to get good returns on their investments.
In whatever way one intends to earn from Bitcoin, it requires time to really see results and there is no specific means of earning that is specifically reserved for newbies.  They can earn anywhere as long as they are prepared for it.

Edit: @DubemIfedigbo001 thanks, I noticed it immediately after dropping the post but due to poor internet connection,  there's delay.