Topic: People makes a financial mistakes in cryptocurrency mostly in Bitcoin investment (Read 31 times)

You can make many mistakes in your life, in your investment career even you picked a good one for your investment, Bitcoin.

Reason is you can not perfectionize you entries and exits even, as said, you already picked a perfect asset for your investment, Bitcoin. So what can you do?

Take it easy, and do Dollar Cost Averaging for your Bitcoin investment portfolio, and forget about any perfect entries or exits.
DCA is your magic method for Bitcoin investment because Bitcoin moves up with time.
https://dcabtc.com/
https://charts.bitbo.io/yearly-candles/

As  an investor in Bitcoin, most times it is advisable to always start with residual income, finances that you know that will not disturb you at the moment or at the long run, you don't test the depth of a River with both feet's, a proper investor invest with a percentage of his capital, not the entirety. I really don't usually find a soft spot for those set of persons whenever stories like these come up, because I feel they threw caution to the wind. Besides whoever that must have introduced a newbie to Bitcoin, must have also taught him the rudiments of what Bitcoin involves.

Yeah emergency funds is important, you need money in order to pay your monthly needs or urgent needs instead of selling your investment. There's nothing wrong to sell some part of your investment, but the volatility in Bitcoin is high, you might need money when the market in bear season.

Even you've separate money for emergency funds, but not everyone have the same risk taker, they might not able to invest the rest of the money in Bitcoin.

I believe everyone who is venturing into Bitcoin investment always have a guider someone who has been discussing with them about Bitcoin, and of course they wouldn't want to understand how everything works they would hastefully went to make investment without them studying how the market behaves or reacts over some periods of time before moving whatever funds into Bitcoin investment. As they knows, Bitcoin is the right investments but if they don't have spare cash or a reserved funds and emergency funds it's very difficult for such investments to yield something very productive.

Theirs some investment in bitcoin that are financial mistakes...some persons makes a wrong decision when it comes to bitcoin investment, mostly newbies in bitcoin, [for instance] when you have a five thousand dollars [5k] left in your savings account and you were told of bitcoin investment or any other cryptocurrencies investment, I will advice you to invest at least three thousand dollars instead of investing all the five thousand dollars in bitcoin so that you will have reserved to sustain and also you will not be curious to withdraw your investment when it's not yet time to withdraw

So a financial mistakes is when you invest wrongly without thinking of side effects of the investment you're venturing into before you invest, or when you invest on what you don't know the rudiments, and also invest on what you can't manage

So the essence of these, is that, anonymous person who were told of cryptocurrency investment and she choose to invest in bitcoin, and what is left in her account is five thousand dollars [5k] as I mentioned above, and she invested all her five thousand dollars without having a reserved, and after two weeks of investment she started withdrawing her bitcoin to feed, and she continues to withdraw her bitcoin until she withdrew all and left with nothing, for me I would not like any beginner to invest in such method.

From my perspective I think what she did is a financial mistakes by investing wrongly without a proper calculation, so what's your take on her investment in bitcoin?