Waking up this morning and I was asking myself what really motivates me about Bitcoin?
Having knowing this i still get motivated daily .
*Knowing Bitcoin and its risks involved is a key phrase to note.
Let's call it as private keys, or wallet seed phrase or wallet mnemonic seed that contains private keys too. Private keys are the ones meaningful for you to actually control your bitcoin and move it by yourself in transactions you broadcast.
There is custom words or extended passphrase that is a second layer security for your wallet, but you must take care of it, back it up in a same careful way like how you do with your private keys seed phrases.
*It's necessary to trade with what you can afford to lose to avoid regrets.
Trading is not a first priority because it is risky, while investment is safer, more easily to get profit, and even brings better profit for you.
*Working on a long-term strategy rather than chasing short-term price movements.
That's related to investments, gradual and patient accumulation as well as long-term holding.
*Neglecting promises of guaranteed returns.
*Understanding that Bitcoin is volatile.
Bitcoin market is volatile and unpredictable so you must understand it together with psychological cycle of market to be well-prepared in this dangerous market.
Psychological pitfalls of market cycle.