Every day, hundreds of thousands of new Bitcoin addresses are being created.

If you've been paying attention, you've likely noticed we're at the start of a new Bitcoin bull run. A period driven by excitement, increased adoption, and a flood of money entering the market.

This surge in excitement and adoption is no coincidence: it follows Bitcoin's most recent halving, a programmed event that cuts the supply of newly minted Bitcoin in half every four years. It reduces Bitcoin's inflation rate, making the asset even scarcer.

The increased scarcity drives up the price, which leads to more headlines and more people rushing to get involved.

Here's the truth: while bull runs bring huge opportunities, they also bring risks—especially for newcomers.

When prices rise, it’s easy to let FOMO (fear of missing out) take over. This can lead to impulsive decisions and diving in without understanding Bitcoin’s fundamentals.

Here's what we're going to cover:

• The emotional rollercoaster called Bitcoin

• Why you should invest 10 hours before investing $1000

• A new perspective on Bitcoin as an asset

• A breakdown of common mistakes and threats

• Your next steps with Bitcoin

From Excitement to Regret

Picture this: you finally decide to buy Bitcoin.

Maybe it’s after hearing a friend rave about their gains, or maybe you’ve read an article about how it’s “the future of money.”

You download an app, buy some Bitcoin, and for the first time, you feel like you’re part of something big.

But then, the price takes a sudden dive.

Your excitement shifts to anxiety. You check the charts obsessively. The number keeps going down.

"What if I lose it all?"

"Should I sell now and buy back at a lower price?"

"Maybe Bitcoin is not for me."

Getting into Bitcoin for the first time can be an emotional rollercoaster.

Here’s the problem: selling out of fear locks in your losses. What started as a decision to “invest in the future” ends up feeling like a gamble gone wrong.

Bitcoin is very volatile—it’s part of its nature.

Without understanding why these swings happen or having the confidence to stay calm, many people end up panic-selling at the worst possible time.

This is exactly what happened as I’m writing these lines. The chart below shows a huge sell-off, occurring just before Bitcoin reached $100k.

This sell-off is driven by short-term holders panicking and selling at a loss—newcomers to Bitcoin who let fear take over.

Here’s what most beginners don’t realize:

• 20%, 30%, even 50% corrections are completely normal in this asset class. We’ll explore the cause of this later. Historically, the price has always recovered stronger.

• Selling during these dips often means you’re handing over your Bitcoin to someone else at a discount.

• Over time, Bitcoin rewards patience, not panic.

When you treat Bitcoin like a speculative gamble instead of a long-term store of value, you don't understand the game you're playing.

The difference between those who thrive and those who leave disappointed?

Fundamental understanding.

This is why you should invest your time in studying Bitcoin first, before investing significant amounts of money.

Building Confidence in Bitcoin

Jumping into Bitcoin without understanding it leads to costly mistakes:

• Selling at a loss

• Chasing hype

• Falling victim to scams

It doesn’t have to be this way.

The most important investment you can make when starting out with Bitcoin isn’t measured in dollars—it’s measured in hours.

Spend time studying Bitcoin before committing significant funds.

Why?

Because knowledge builds confidence.

When you understand the asset, you’re less likely to make impulsive decisions driven by fear or greed, and you’ll avoid mistakes and scams along the way.

Start here

Once you have commited to studying Bitcoin's fundamentals, start small and keep these things in mind:

1. Understand Bitcoin And Its Purpose:

Learn why it’s not just a speculative gamble but a revolutionary store of value.

Explore these to get started:

• The Bitcoin Standard by Saifedean Ammous

• The Internet Of Money by Andreas M. Antonopoulos 

• Any podcast featuring Michael Saylor 

2. Never Let FOMO Control You

The fear of missing out (FOMO) often drives people to buy at the peak of a market.

Stay grounded and make rational decisions by stacking Bitcoin in alignment with your long-term plan.

A great way to do this:

Buy small amounts of Bitcoin daily or weekly. This strategy is known as Dollar-Cost Averaging (DCA).

Just be sure to check the fee structure of your exchange to avoid paying excessive fees.

For example, it’s better to buy $70 weekly at a 0.5% fee than to make seven $10 purchases every day at a 1% fee. These fees add up over time.

3. Have a Long Investing Time Horizon

Your minimal investment time horizon should be at least 4 years. Bitcoin has historically followed a 4-year cycle.

Significant corrections are completely normal in Bitcoin. It operates in a free market with a fixed supply.

Unlike traditional assets, a higher price doesn’t lead to increased supply. Bitcoin’s scarcity remains constant.

When a correction happens, resist the urge to panic.

Zoom out.

Focus on your long-term time horizon and stick to a Dollar-Cost Averaging (DCA) strategy.

View dips as opportunities to accumulate more Bitcoin at discounted prices. This strengthens your position for the future.

When you invest time upfront to study it, you equip yourself with the confidence to:

• Make better decisions

• Avoid costly mistakes

Threats to Your Holdings

Once you’re confident investing small amounts in Bitcoin, it’s time to understand the threats to your holdings and how to avoid them.

1. Chasing Altcoins

It’s tempting to "diversify" into altcoins that promise massive returns, especially when Bitcoin feels “too expensive.”

Most altcoins are speculative projects with no real value, and many will go to zero over time.

If you choose to ride the altcoin wave, keep in mind that it’s driven by hype. Even the largest and most popular projects often become massively overvalued, leading to significant crashes by the end of the bull run.

If you're just starting out, focus on Bitcoin. It's the only truly scarce, decentralized asset.

Don't get distracted.

2. Scams

Bitcoin’s popularity attracts scammers looking to exploit newbies.

Common scams include fake wallets, phishing websites, and promises of guaranteed returns.

Scammers exploit FOMO and inexperience to trick you into handing over your Bitcoin.

Here’s what to keep in mind:

• Only use wallets and platforms from trusted, reputable sources.

• Double-check URLs to avoid phishing sites.

• Beware of “guaranteed returns” or offers that seem too good to be true.

• Legitimate companies will never ask for sensitive information.

• Never share your login information or private keys with anyone.

By addressing these threats early, you’ll secure your Bitcoin and gain the peace of mind to build your position confidently.

3. Exchanges & Yield

Leaving your Bitcoin on an exchange might seem convenient, but it’s one of the riskiest mistakes you can make.

Exchanges are prime targets for hackers, and even large, reputable platforms can freeze withdrawals or go bankrupt without warning.

If you don’t control the private keys to your Bitcoin, you don’t truly own your funds.

Some cryptocurrency platforms promise “risk-free” yields to attract users, offering to pay interest on your Bitcoin.

Here’s the reality: these platforms often operate on fractional reserves. They lend out your Bitcoin while giving you the illusion that your coins are still available.

To avoid platforms gambling with your funds, you should keep your Bitcoin in self-custody. This is the only way to completely control your Bitcoin.

If you’re new to self-custody, be sure to check out my 7-Step Checklist for Beginners.

Your Next Steps in Bitcoin

If you’ve made it this far, you’re already ahead of most new Bitcoiners.

You understand that the biggest threat to your success isn’t volatility—it’s a lack of knowledge.

The good news is, it's within your control.

Here’s the path forward:

1. Invest in Understanding First: Commit time to studying Bitcoin before committing significant money. This will give you the confidence to navigate volatility and make informed decisions.

2. Start Small and Build Gradually: Focus on strategies like Dollar-Cost Averaging (DCA) and take a long-term approach. View corrections as opportunities, not threats.

3. Focus on Bitcoin: Don’t get distracted by the noise of altcoins and hype. There is no second best Bitcoin.

4. Recognize and Avoid Threats: From scams to exchanges, know the risks and take proactive steps to protect your Bitcoin.

Take Control of Your Bitcoin

Once you're confident investing small amounts, self-custody is the critical next step. It’s the only way to completely own your Bitcoin.

When you hold the keys, you control your Bitcoin.

This is one of the most fundamental things you need to grasp.

Once you see it, you can’t unsee it.

Again, refer to my free checklist linked above to get started.

The Ladder Of Bitcoin

Most people enter Bitcoin with the goal of getting rich quickly.

As they dive deeper, they discover something far greater: the path to self-sovereignty.

Getting into Bitcoin is like climbing a ladder. Each step takes you closer to true financial independence.

From understanding its fundamentals to securing your holdings with self-custody, every step matters.

Your biggest threat is skipping steps in this process, as it leads to gaps in understanding.

Taking the time to study it ensures you build a strong foundation.

Take it one step at a time, and stay focused.

— Robin