It's about the fundamentals. It's what keeps you safe in the downturns and strong in the wealthy times.
If you understand them, you know how to decide. And they are pretty simple. The problem is some of us figure we are oracles and can take certain smart risks and get more than the boring old way that has been proven to work. When we ask, "What is the best way to make money?", we are typically asking, "How do I make more money?".
You have no goal. You have no method. You have only will.
Fix the first 2. Start with... What is your goal? What is your final net worth? Or even your final net monthly cash flow? More is not an answer. More is always more and never ends. It gets you in trouble, it doesn't allow to make changes appropriate changes to your portfolio to actually make more. Get that figured out.
Lastly... what is your method? This is where many are seeking the secret fastest way, but even if you find it, it will probably only last as long as it is secret. So anyone telling you they figured it out is probably using it against you. So that leaves something that is transparent, something we can all do and doesn't hurt everyone. Investing in something that helps people and needs us all to participate is a good start. There is so much to investing, that it would require a book to explain it.
BTC is an incredible opportunity with a global purpose unlike we've seen before. And what makes it stand out from all other cryptos is it has all, not just some of the following:
(Quotes from article linked below)
"one of the most important aspects of bitcoin as sound money is its unique monetary policy". It has a deterministic set policy. Predictable. Unchangeable. You know exactly what and how it will do it. This is unlike anything you've ever experienced. That means buying and leaving it alone, knowing it will follow that path. Investing in BTC is investing in it's code. And you have an incredible team of developers behind it. "...best indicator of the short-term price development of bitcoin and cryptocurrencies, in general, is developer activity around it... active developer activity around bitcoin which provides the network security value ultimately drive the bitcoin price upwards and provides it with fundamental value... It’s developers, it’s the people that are actually checking the code or watching the network figuring out low probability scenarios and how to immunize against those. That’s what gives it value. That’s what gives us security. That’s what makes it a great store of value".
"Bitcoin is sound money because there is a fixed supply limit and demand is always increasing". This is vital. Because you don't need risk using BTC anywhere to make more with it. It will on it's own. Would you lend your seeds to someone else in promise of carrots, when knowingly, you can plant them yourself (holding on to btc) and harvest the carrots yourself? The days where you have to trust your money to someone else to make more of it because of inflation are done. You don't need to do this anymore. If you do, it's to speculate to make more short term. And the gambler's dilemma is knowing when they do not know enough and stopping when enough is enough. So even if you guessed a crypto right today, you may not tomorrow. And worse, with no plan, you will lose it all. Once you realize that you are using old strategies with the future, you may stop. The code itself protects itself from inflation. You can buy and hold like with gold. It is your net worth reserve. Every time you spend it, you are spending money from the future without its growth. Spend backwards. Invest in BTC and spend your depreciating fiat today. One day, you'll just have btc left. Imagine being like Scrooge McDuck. He only dealt in gold. And he always was worth more the next day because his total gold was worth more than the amount he spent. The psychology and global impact on this matter alone is for another article, but by the time you have converted slowly fully your money, btc will have stabilized way more. Besides, I don't think you'll be worried about you spending btc that has gone down 2% one day if you started out with $200K total and you are now worth $20M. Because there is greater upside potential than not. But you don't want to invest everything in today...
"the most stable, secure, and smart method of trading bitcoin is trade less, hold longer, and do not overreact to short-term volatility. I would change "trade less" and say -> Invest in what you believe in. Invest only what you are willing to lose. Invest in it systematically (because you believe in it, right?), meaning, same amount, same day, same frequency and make sure you are the only one in control of it. If you believe in what you invest, you will invest in it when it is going down, because you know it is going on sale from those who don't believe in it. And when it goes up, well... :)
"Many respected financial analysts including RT’s Max Keiser and Wall Street analyst Tom Lee believe bitcoin could evolve into a multi-trillion dollar financial network in the upcoming years, given that conditions are met and developer activity around it remains vibrant." No doubt. But I could be wrong. There are no guarantees in life other than the laws of the universe.
So dollar cost average your investment with BTC: Buy same amount, same frequency, and don't sell until you have converted all your non-physical wealth.