Some helpful tips for newcomers to navigate the Bitcoin bull run:
1. **Research and Educate Yourself**: Understand the fundamentals of Bitcoin and how it works.
Understand the fundamentals of money.
Podcast tip: Saylor series from Robert Breedlove
2. **Start Small**: Invest only what you can afford to lose. Bitcoin's price can be volatile. DCA on a monthly basis.
3. **Long-Term Perspective**: Avoid the temptation of short-term gains. Bitcoin's price can fluctuate wildly, but historically, it has shown long-term growth potential.
5. **Stay Informed**: Keep up with the latest news and developments in the Bitcoin space. Follow reputable sources and stay cautious of misinformation.
Some good sources/podcasts:
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6. **Use Secure Wallets**: Store your Bitcoin in secure wallets, preferably hardware wallets or reputable software wallets with strong security features. Avoid keeping Bitcoin on exchanges.
7. **Be Prepared for Volatility**: Bitcoin's price can experience rapid fluctuations. Be mentally prepared for ups and downs in the market.
8. **Avoid FOMO (Fear of Missing Out)**: Don't make impulsive decisions based on FOMO. Make informed decisions based on thorough research and analysis.
9. **Set Realistic Goals and Expectations**: Set realistic goals for your investments and be patient. Don't expect overnight riches, and be prepared for the long haul.
10. **Seek Professional Advice**: Consider consulting with financial advisors or experts in the bitcoin space before making massive investment decisions.
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By following these tips, newcomers can navigate the Bitcoin bull run with more confidence and reduce the risk of getting "rekt."