Buy the DIP, and HODL! - page 143. | Bitcointalksearch.org

Litzki1990

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Quote from: SuperBitMan on September 20, 2024, 11:52:45 AM

Some newbies without proper knowledge of Bitcoin always have this fear when there's a dip in Bitcoin but going through the history of Bitcoin growth will help them Break free from such fear, some people also fear when there's a dip in Bitcoin because they have already inculcated this we are in them that Bitcoin will one day fall and never rise again so when ever there's a dip they fear of it not rising again.
No one knows what the future holds for Bitcoin and that is why it is advised to always use ones Discretionary income in Bitcoin investment if any negative thing happens in the future in Bitcoin people that will be more affected are those who are not using there discretionary income to invest no one is praying for anything negative but let's all be guarded.

Not only investing in Bitcoin but in my opinion every trader has to take risks in starting a physical business like any other physical business. No investor ever invests with a 100% guarantee of winning. Many people invest money in the stock market and as much as they earn profit from it, they also lose a good amount of money from it. None of us know what the future holds for Bitcoin. We can only get some idea of what Bitcoin can reach by looking at past statistics and current Bitcoin movement. But it is not possible to improve in life without taking risks.

Investors should assume before investing in Bitcoin that they are risking the maximum amount of money and the amount of money they can lose. If the investors can invest with that much risk in the beginning and they can maintain the consistency of investment over time then I think they will definitely succeed at some point.

No one knows the future of investment that is why every new investor is advised to invest in Bitcoin with the amount of money you can afford to lose.
By investing in this way, basically the investor will not fall into financial disaster.

SuperBitMan

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Quote from: Ruttoshi on September 21, 2024, 05:39:23 AM

Quote from: Princess Leah on September 21, 2024, 05:23:54 AM

Quote from: SuperBitMan on September 21, 2024, 02:06:49 AM

Quote from: Stablexcoin on September 20, 2024, 10:36:32 PM

Quote from: laijsica on September 19, 2024, 10:39:45 PM

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

If the reason to diversify into other assets is to reduce risk and help sustain our long-term plan in our Bitcoin investment then it is a good idea. Meanwhile, there is nothing wrong with focusing on accumulating Bitcoin for a while. While we go in search of other assets to maintain balance we ought to focus on accumulating enough Bitcoin that when held for a long term the profit will be reasonable. An investor who has not acquired enough Bitcoin should not think of diversifying in the initial stage.

For new investors they shouldn't be in a haste to go into diversification. Growing their portfolio at that early stage should be there ultimate criterion. At some point when they feel they are comfortable with what they have so far then they can start thinking of diversification. Those who are rich and can afford to accumulate faster can diversify when they feel like it because they have the resources to do so.

One thing about long term Bitcoin investment is that one should not see it as source of income, when you remove your mind from seeing it as a source of income then you can grow more bigger.
If you are into Long term Bitcoin investment you can do other business if you wish one must not wait to accumulate enough Bitcoin before going into a business or investment that will give you income.
Bitcoin is very volatile and one can't predict what will happen in the future and that is why I'm saying one should not look at Bitcoin as a source of income because you may plan to sell of your Bitcoin in the next 3 to 4 years and that time a dip happens it will live you frustrated so since the income you are using to invest into Bitcoin is your Discretionary Income one can still invest in a business that will be giving him or her income weekly or monthly that way it will even help your Bitcoin investment to grow since income is now coming from different angles.

That aside, Bitcoin still remains the best Cryptocurrency for investment, moreover when investing on it, I've learnt that the investor should have an emergency fund already in place therefore a good and experienced Bitcoin investor should understand that already, maybe it's newbies that would just jump into Bitcoin to get rich quick through it without an emergency fund.

It is not compulsory for a new investor to already have his emergency funds before he venture into investing in bitcoin. The new investor can start investing in bitcoin and at and the same time build up his emergency funds.

The most important thing that a newbie needs to figure out is how much is his discretionary income and how much from his discretionary income that he will use to buy bitcoin that will make him continue buying weekly or monthly overtime. He can use the other part of his discretionary income to start building his emergency funds for 3-6 months.

If he has built his emergency funds, he can channel that funds that he was using to build his emergency funds to build his reserve funds. After that the new investor can DCA aggressively to cover up all the time that he was using to build those back up funds.

Well said Ruttoshi, no need to wait till after building your emergency funds because of can still be accumulating and building it little by little.
Some people borrow money in other to accumulate enough Bitcoin but is not necessary no need to rush in building up your Bitcoin investment there's still time to build or grow one's Bitcoin investment because Bitcoin has not reached half of it's growth so no need to rush little by little and before you know it you have accumulated enough Bitcoin for yourself.
one's Bitcoin accumulation weekly or monthly should be in confine to one's discretionary income, using money that is outside your discretion income may lead you to a fuck you stage where you will be forced to dip hands into your Bitcoin investment so to avoid that only use your Discretionary income to invest in Bitcoin.

Mayor of ogba

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Quote from: asarfiar on September 16, 2024, 06:37:49 AM

BUY DIP AND HOLD by properly researching when bitcoin price is going down and when the price is going up.

As a newbie, you should be more focused on your learning process and not teaching about bitcoin for people to know you can contribute to this thread. As time goes on, if you dedicate your time to learning bitcoin, you will understand bitcoin easily, and when you see someone passing a wrong idea about bitcoin, you will always correct the person because you know what the person is saying is wrong. Always waiting to buy bitcoin in a dip is wrong; this approach will slow your bitcoin accumulation plan because you will be less active in accumulating bitcoin, and if bitcoin fails to drop to your expected price, you will keep waiting for the price to come, which can cause you to miss out on bitcoin. If you are so concerned about buying bitcoin in a dip, you can divide your investment money into two equal parts; you can use one part to consistently accumulate bitcoin with the DCA strategy either on a weekly or monthly basis, and you will keep the second part and use it to accumulate bitcoin whenever there's a bitcoin dip.

Ruttoshi

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Quote from: Princess Leah on September 21, 2024, 05:23:54 AM

Quote from: SuperBitMan on September 21, 2024, 02:06:49 AM

Quote from: Stablexcoin on September 20, 2024, 10:36:32 PM

Quote from: laijsica on September 19, 2024, 10:39:45 PM

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

If the reason to diversify into other assets is to reduce risk and help sustain our long-term plan in our Bitcoin investment then it is a good idea. Meanwhile, there is nothing wrong with focusing on accumulating Bitcoin for a while. While we go in search of other assets to maintain balance we ought to focus on accumulating enough Bitcoin that when held for a long term the profit will be reasonable. An investor who has not acquired enough Bitcoin should not think of diversifying in the initial stage.

For new investors they shouldn't be in a haste to go into diversification. Growing their portfolio at that early stage should be there ultimate criterion. At some point when they feel they are comfortable with what they have so far then they can start thinking of diversification. Those who are rich and can afford to accumulate faster can diversify when they feel like it because they have the resources to do so.

One thing about long term Bitcoin investment is that one should not see it as source of income, when you remove your mind from seeing it as a source of income then you can grow more bigger.
If you are into Long term Bitcoin investment you can do other business if you wish one must not wait to accumulate enough Bitcoin before going into a business or investment that will give you income.
Bitcoin is very volatile and one can't predict what will happen in the future and that is why I'm saying one should not look at Bitcoin as a source of income because you may plan to sell of your Bitcoin in the next 3 to 4 years and that time a dip happens it will live you frustrated so since the income you are using to invest into Bitcoin is your Discretionary Income one can still invest in a business that will be giving him or her income weekly or monthly that way it will even help your Bitcoin investment to grow since income is now coming from different angles.

That aside, Bitcoin still remains the best Cryptocurrency for investment, moreover when investing on it, I've learnt that the investor should have an emergency fund already in place therefore a good and experienced Bitcoin investor should understand that already, maybe it's newbies that would just jump into Bitcoin to get rich quick through it without an emergency fund.

It is not compulsory for a new investor to already have his emergency funds before he venture into investing in bitcoin. The new investor can start investing in bitcoin and at and the same time build up his emergency funds.

The most important thing that a newbie needs to figure out is how much is his discretionary income and how much from his discretionary income that he will use to buy bitcoin that will make him continue buying weekly or monthly overtime. He can use the other part of his discretionary income to start building his emergency funds for 3-6 months.

If he has built his emergency funds, he can channel that funds that he was using to build his emergency funds to build his reserve funds. After that the new investor can DCA aggressively to cover up all the time that he was using to build those back up funds.

Princess Leah

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Quote from: SuperBitMan on September 21, 2024, 02:06:49 AM

Quote from: Stablexcoin on September 20, 2024, 10:36:32 PM

Quote from: laijsica on September 19, 2024, 10:39:45 PM

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

If the reason to diversify into other assets is to reduce risk and help sustain our long-term plan in our Bitcoin investment then it is a good idea. Meanwhile, there is nothing wrong with focusing on accumulating Bitcoin for a while. While we go in search of other assets to maintain balance we ought to focus on accumulating enough Bitcoin that when held for a long term the profit will be reasonable. An investor who has not acquired enough Bitcoin should not think of diversifying in the initial stage.

For new investors they shouldn't be in a haste to go into diversification. Growing their portfolio at that early stage should be there ultimate criterion. At some point when they feel they are comfortable with what they have so far then they can start thinking of diversification. Those who are rich and can afford to accumulate faster can diversify when they feel like it because they have the resources to do so.

One thing about long term Bitcoin investment is that one should not see it as source of income, when you remove your mind from seeing it as a source of income then you can grow more bigger.
If you are into Long term Bitcoin investment you can do other business if you wish one must not wait to accumulate enough Bitcoin before going into a business or investment that will give you income.
Bitcoin is very volatile and one can't predict what will happen in the future and that is why I'm saying one should not look at Bitcoin as a source of income because you may plan to sell of your Bitcoin in the next 3 to 4 years and that time a dip happens it will live you frustrated so since the income you are using to invest into Bitcoin is your Discretionary Income one can still invest in a business that will be giving him or her income weekly or monthly that way it will even help your Bitcoin investment to grow since income is now coming from different angles.

That aside, Bitcoin still remains the best Cryptocurrency for investment, moreover when investing on it, I've learnt that the investor should have an emergency fund already in place therefore a good and experienced Bitcoin investor should understand that already, maybe it's newbies that would just jump into Bitcoin to get rich quick through it without an emergency fund.

Many people got their choices of investment when it comes to Cryptocurrency but I won't advise anyone to investment on any other cryptocurrency asides BTC, Bitcoin has proven to be the best investment overtime and those who's been holding since the previous circle can testify that. One thing that discourages many people from investing in Bitcoin is volatility but a good investor could take advantage of it instead of seeing it as a disadvantage to their investment plan

If you notice, Microstrategy is still accumulating more Bitcoin whether the price dips or not, they're not not bothered about volatility and their goal is to accumulate as much as possible so cause they're aware of what they stand to gain in future, the things is that if you're thinking about Bitcoin investment for focus should be in long-term and accumulating overtime regardless of your income.

Rustam Meraj

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Quote from: SuperBitMan on September 21, 2024, 02:06:49 AM

One thing about long term Bitcoin investment is that one should not see it as source of income, when you remove your mind from seeing it as a source of income then you can grow more bigger.
If you are into Long term Bitcoin investment you can do other business if you wish one must not wait to accumulate enough Bitcoin before going into a business or investment that will give you income.
Bitcoin is very volatile and one can't predict what will happen in the future and that is why I'm saying one should not look at Bitcoin as a source of income because you may plan to sell of your Bitcoin in the next 3 to 4 years and that time a dip happens it will live you frustrated so since the income you are using to invest into Bitcoin is your Discretionary Income one can still invest in a business that will be giving him or her income weekly or monthly that way it will even help your Bitcoin investment to grow since income is now coming from different angles.

To succeed with long term Bitcoin investing think carefully. We Do not rely on Bitcoin for regular income. Its value goes up and down too much. Invest in other things that bring in money weekly or monthly. This will reduce money worries and help your Bitcoin investment grow. Separating your money goals will save you from stress when Bitcoin value changes. And if we will think that we can get regular income from Bitcoin so keep in mind we can lose our money too. So the best option for Bitcoin is to think only long term. Otherwise it can give us losses.

SuperBitMan

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Quote from: Stablexcoin on September 20, 2024, 10:36:32 PM

Quote from: laijsica on September 19, 2024, 10:39:45 PM

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

If the reason to diversify into other assets is to reduce risk and help sustain our long-term plan in our Bitcoin investment then it is a good idea. Meanwhile, there is nothing wrong with focusing on accumulating Bitcoin for a while. While we go in search of other assets to maintain balance we ought to focus on accumulating enough Bitcoin that when held for a long term the profit will be reasonable. An investor who has not acquired enough Bitcoin should not think of diversifying in the initial stage.

For new investors they shouldn't be in a haste to go into diversification. Growing their portfolio at that early stage should be there ultimate criterion. At some point when they feel they are comfortable with what they have so far then they can start thinking of diversification. Those who are rich and can afford to accumulate faster can diversify when they feel like it because they have the resources to do so.

One thing about long term Bitcoin investment is that one should not see it as source of income, when you remove your mind from seeing it as a source of income then you can grow more bigger.
If you are into Long term Bitcoin investment you can do other business if you wish one must not wait to accumulate enough Bitcoin before going into a business or investment that will give you income.
Bitcoin is very volatile and one can't predict what will happen in the future and that is why I'm saying one should not look at Bitcoin as a source of income because you may plan to sell of your Bitcoin in the next 3 to 4 years and that time a dip happens it will live you frustrated so since the income you are using to invest into Bitcoin is your Discretionary Income one can still invest in a business that will be giving him or her income weekly or monthly that way it will even help your Bitcoin investment to grow since income is now coming from different angles.

Stablexcoin

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Quote from: laijsica on September 19, 2024, 10:39:45 PM

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

If the reason to diversify into other assets is to reduce risk and help sustain our long-term plan in our Bitcoin investment then it is a good idea. Meanwhile, there is nothing wrong with focusing on accumulating Bitcoin for a while. While we go in search of other assets to maintain balance we ought to focus on accumulating enough Bitcoin that when held for a long term the profit will be reasonable. An investor who has not acquired enough Bitcoin should not think of diversifying in the initial stage.

For new investors they shouldn't be in a haste to go into diversification. Growing their portfolio at that early stage should be there ultimate criterion. At some point when they feel they are comfortable with what they have so far then they can start thinking of diversification. Those who are rich and can afford to accumulate faster can diversify when they feel like it because they have the resources to do so.

Nheer

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Quote from: mamesso on September 20, 2024, 02:41:30 AM

So that investment plans are not disrupted, there needs to be a Passive Income to maintain effectiveness so that investments can continue to run consistently and are not easily stressed due to falling prices. In this way, investors can achieve financial goals according to their plans. The main goal of investing is to increase wealth through passive income in the long term, the longer you invest, the greater the amount of assets collected, so the opportunity to get a return is very large. Investing an amount that you can afford to risk can eliminate emotional factors that can cause loss of concentration in investing.

DCA has been an effective method and widely used strategy by a lot of people nowadays and it has made it easy for everyone to be able to invest in bitcoin. Investing is not the only thing one needs to figure out but also being able to hold no matter the circumstances is important and also setting a target goal to hold for a long period is the best investment plan in order to make a reasonable profit. Some will tell you they prefer other strategies but i don’t think any strategy beats DCA in any way.
Investors should always be disciplined enough to invest within their capacity an amount that they can afford to risk so they don’t get emotionally worried when things are not going right.

Quote from: laijsica on September 19, 2024, 10:39:45 PM

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

The possibility of long term bitcoin investment failing is very low and almost impossible to happen and in my opinion bitcoin investment is the best investment for new investors and it is the safest for them so i don’t think overemphasizing on accumulating bitcoin is bad if well planned and if they only invest an amount they can afford to risk.

Greyhats

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Quote from: Greyhats on June 04, 2024, 12:31:32 PM

Today we see Bitcoin going over 70k, we have been on a sideway run from the start of March to now. We saw a new ATH $73794 on 14 Mar, and have also seen some dips along the way. Anyone care to state how close they got to the dips over this period?

(Bitstamp USD$ prices on the daily chart)

20 Mar $60,760
17 Apr $59,629
01 May $56,500

From my own DCA data, looking at the lowest cost price around/near/on those dates I got corn at these prices:

March $62,000
April $62,050
May $57,033

I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?

Couple of weeks late for my 3 month update but here goes. For this 3 month period we crabbed sideways, with ups and downs along the way.

Market lowest Dip prices (Bitstamp USD$ prices on the daily chart)

24 Jun $58,456
05 Jul $53,550
05 Aug $49,557

From my own DCA & purchase data, looking at the lowest cost price around/near/on those dates I got corn at these prices:

Jun $59,338 (DCA)
Jul $55,553 (DCA)
Aug $49,752 (DIP)

I did some dip buying along with my dca during this period. How did you all do dca and/or dip?

topbitcoin

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Quote from: laijsica on September 19, 2024, 10:39:45 PM

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

No need to go too far buddy when the choice has been determined then we just need to realize what we have planned.
Believing in bitcoin and emphasizing for actual purchase is a very good thing and it will not be a failure for the long term when the way we do it is right especially when the characteristics of novice investors who are in bitcoin they will not think too far the most important thing is how they get bitcoin. I say this because that's what I felt when I was first in bitcoin because indeed when I was in the spirit of collecting bitcoin regardless of whether it was said to be aggressive or too reckless but I made a purchase without thinking much and I don't think something like this happened only to me when I made my first bitcoin purchase (as a beginner investor) the result is that until now I am still quite comfortable with the purchases I made without feeling too worried about affecting the long term considering that I realize what I am doing has risks but confidence in bitcoin clearly dispels worries so as not to panic too much in the end.

SuperBitMan

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Quote from: fredericktaylor on September 20, 2024, 10:41:47 AM

Quote from: jossiel on July 25, 2024, 06:06:38 PM

Quote from: chigo on July 25, 2024, 02:04:09 AM

Quote from: jossiel on July 24, 2024, 05:04:56 PM

The best time to do it was always in the past and not in the present. However, we cannot go back in time and so we have to deal with the present and before another regret comes, do it presently so that not another opportunity will be missed.

The key to investing is to start early, so if someone has the opportunity to invest now, then he should invest now. There is no need to buy in large amounts, with accumulation or DCA one can build their investment portfolio slowly while setting goals for how long they hold it.

Because if someone delays investing now, then they might miss the opportunity to get bitcoin at a cheaper price and the opportunity to get potential profits more quickly. If you are still in doubt, do accumulation or DCA, because it is the most appropriate method for people who want to start but are still learning.

You're right.

Those that sees the buying time while they can has to act on it now. Because if they don't, they're wasting the opportunity and soon they'd see how the price for Bitcoin will be more than it is compared to the time that they're seeing it quite lower.

Quote from: JayJuanGee on July 25, 2024, 02:05:21 AM

Each of us has the ability to set up strong cashflow management practices that allow us to strengthen our emotional reactions, so the better kinds of cashflow management practices that we have that are balanced with our bitcoin investment strategy, whether DCA, buying dips and/or lump sum, then the more likely that we will keep our emotions in check.. and yeah, it might take a while to build the skills, practices and application, so the newbies might have more tendencies to want to panic while they are still building, so they should be attempting to build and buttress their systems to lessen the likelihood that they will panic because either they are continuing to buy or they are holding or they are doing some kind of a practice that helps them to couple some of their actions in with their beliefs in bitcoin being a good place to put some of their extra money and if they don't have extra money, they might have to hold from time to time until they are able to generate some extra money to buy more... especially if they are in their accumulation stages, then the main thing is just buying regularly but also having some reserve funds so there is not any kind of sense of panic that sets in merely because the BTC price moves a lot in one direction or another.

I agree, the importance of having a reserve fund while continually buying Bitcoin should be considered not just by the newbies but all of us.

As we invest in Bitcoin, it should play the purpose of why we've bought it and we don't have to pull it asap when we're in need. That's the reason why we need to have extra funds or just invest extra to Bitcoin.

So, in unexpected times that we need to have some money, we're not going to spend our holdings for it and at the same time when dip comes, no one will panic.

I agree,Bitcoin is number one in coin table for its high speed price.All of us who are involved with cryptocurrencies know that there are many other coins in the market besides Bitcoin,all of which are much cheaper than the price of Bitcoin.We know that while Bitcoin is popular for soaring prices,the amount of risk in Bitcoin is high.

Even though there are thousands of coins in the market, we invest in Bitcoin, despite the risk because we know that Bitcoin will grow more in the future than its current price.

An investor must understand why I am investing in Bitcoin, what is my purpose,if I understand all these things well, an investor will never be disappointed when the price of Bitcoin falls in the market,and will show interest in investing more in Bitcoin and should encourage others to invest.

Some newbies without proper knowledge of Bitcoin always have this fear when there's a dip in Bitcoin but going through the history of Bitcoin growth will help them Break free from such fear, some people also fear when there's a dip in Bitcoin because they have already inculcated this we are in them that Bitcoin will one day fall and never rise again so when ever there's a dip they fear of it not rising again.
No one knows what the future holds for Bitcoin and that is why it is advised to always use ones Discretionary income in Bitcoin investment if any negative thing happens in the future in Bitcoin people that will be more affected are those who are not using there discretionary income to invest no one is praying for anything negative but let's all be guarded.

Sim_card

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Quote from: obuoma on September 20, 2024, 10:37:19 AM

Quote from: Ryu_Ar1 on September 20, 2024, 04:34:58 AM

Quote from: Rockstarguy on September 18, 2024, 01:02:39 PM

It is not necessary that one must have enough funds before investments must take place. The most important thing for one to have to start up investments is a steady source of income, then make plans how much amount of money will go in for investment and how mich will be for reserves and how much to be spend. Having a source of income, then make good plans and invest according to the amount you can afford to spend. Investments can only be stressful when there is no steady source of income and when there are no good plans on how to manage the money.

Right buddy, because in the end when talking about sufficiency of funds I think this is a slightly more difficult condition because regardless of our attitude in assessing the truth there will never be enough for financial matters because it will always be considered less so that when waiting for it to be enough then we will never invest because of our assumption that always feels less and wants more. But in contrast to those of us who can have a fairly maintained income every month and we can manage it well, it is certain that we will try as much as possible to set aside the income we have for investment if we have a good outlook for the future.

The advantage we have is that we are now aware that you don't have to be supper rich to invest in Bitcoin neither do you need to buy 1BTC at a go before you can start. Rather, you can start small even with as low as $10 or $20 per week which is doable for someone who have the passion and zeal to take his future finances seriously. I have read through the threads to see many fine suggestions that can enable the investor achieve this, one of them being the DCA method that I have seen to resonant with many people and is already yielding good results for those who apply it. So the question of financial sufficiency before investing does not come in because human wants are insatiable meaning that if we want to satisfy all we could ever desire before we invest, then such investment will never happen.

I am planning on separating my wants into the basic and optional so that I can balance how I allocate my income to accommodate my plan to invest in Bitcoin in a little but regular fashion. I have gotten the main information I need to get started so I have to implement what I have learnt and see how it feels to hold Bitcoin.

Make sure that when you want to start your bitcoin investment, you should use part of your discretionary income to buy bitcoin that will not affect you so that you can continue buying regularly weekly or monthly using DCA method for 4-10 years and above to increase and grow your bitcoin portfolio till you reach your bitcoin target. If you have extra cash from bonus at work or money that you are not expecting and will not need for long, you can lump sum right away to increase your bitcoin stash fast.

Lastly, you need to have an emergency funds to back up your bitcoin investment so that when real emergency happens, you don't fall back to your bitcoin to care of your emergency. If you don't have any money available that can serve as your emergency funds in the beginning of your bitcoin investment, you can use one part of your discretionary to to be buying your bitcoin gradually and also using the other part of your discretionary income to build your emergency funds simultaneously for 3-6 months.

With your emergency funds, when a real emergency arises you can use your emergency funds to take care of it without touching to your bitcoin investment and refill your emergency funds ASAP.

fredericktaylor

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Quote from: jossiel on July 25, 2024, 06:06:38 PM

Quote from: chigo on July 25, 2024, 02:04:09 AM

Quote from: jossiel on July 24, 2024, 05:04:56 PM

The best time to do it was always in the past and not in the present. However, we cannot go back in time and so we have to deal with the present and before another regret comes, do it presently so that not another opportunity will be missed.

The key to investing is to start early, so if someone has the opportunity to invest now, then he should invest now. There is no need to buy in large amounts, with accumulation or DCA one can build their investment portfolio slowly while setting goals for how long they hold it.

Because if someone delays investing now, then they might miss the opportunity to get bitcoin at a cheaper price and the opportunity to get potential profits more quickly. If you are still in doubt, do accumulation or DCA, because it is the most appropriate method for people who want to start but are still learning.

You're right.

Those that sees the buying time while they can has to act on it now. Because if they don't, they're wasting the opportunity and soon they'd see how the price for Bitcoin will be more than it is compared to the time that they're seeing it quite lower.

Quote from: JayJuanGee on July 25, 2024, 02:05:21 AM

Each of us has the ability to set up strong cashflow management practices that allow us to strengthen our emotional reactions, so the better kinds of cashflow management practices that we have that are balanced with our bitcoin investment strategy, whether DCA, buying dips and/or lump sum, then the more likely that we will keep our emotions in check.. and yeah, it might take a while to build the skills, practices and application, so the newbies might have more tendencies to want to panic while they are still building, so they should be attempting to build and buttress their systems to lessen the likelihood that they will panic because either they are continuing to buy or they are holding or they are doing some kind of a practice that helps them to couple some of their actions in with their beliefs in bitcoin being a good place to put some of their extra money and if they don't have extra money, they might have to hold from time to time until they are able to generate some extra money to buy more... especially if they are in their accumulation stages, then the main thing is just buying regularly but also having some reserve funds so there is not any kind of sense of panic that sets in merely because the BTC price moves a lot in one direction or another.

I agree, the importance of having a reserve fund while continually buying Bitcoin should be considered not just by the newbies but all of us.

As we invest in Bitcoin, it should play the purpose of why we've bought it and we don't have to pull it asap when we're in need. That's the reason why we need to have extra funds or just invest extra to Bitcoin.

So, in unexpected times that we need to have some money, we're not going to spend our holdings for it and at the same time when dip comes, no one will panic.

I agree,Bitcoin is number one in coin table for its high speed price.All of us who are involved with cryptocurrencies know that there are many other coins in the market besides Bitcoin,all of which are much cheaper than the price of Bitcoin.We know that while Bitcoin is popular for soaring prices,the amount of risk in Bitcoin is high.

Even though there are thousands of coins in the market, we invest in Bitcoin, despite the risk because we know that Bitcoin will grow more in the future than its current price.

An investor must understand why I am investing in Bitcoin, what is my purpose,if I understand all these things well, an investor will never be disappointed when the price of Bitcoin falls in the market,and will show interest in investing more in Bitcoin and should encourage others to invest.

obuoma

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Quote from: Ryu_Ar1 on September 20, 2024, 04:34:58 AM

Quote from: Rockstarguy on September 18, 2024, 01:02:39 PM

It is not necessary that one must have enough funds before investments must take place. The most important thing for one to have to start up investments is a steady source of income, then make plans how much amount of money will go in for investment and how mich will be for reserves and how much to be spend. Having a source of income, then make good plans and invest according to the amount you can afford to spend. Investments can only be stressful when there is no steady source of income and when there are no good plans on how to manage the money.

Right buddy, because in the end when talking about sufficiency of funds I think this is a slightly more difficult condition because regardless of our attitude in assessing the truth there will never be enough for financial matters because it will always be considered less so that when waiting for it to be enough then we will never invest because of our assumption that always feels less and wants more. But in contrast to those of us who can have a fairly maintained income every month and we can manage it well, it is certain that we will try as much as possible to set aside the income we have for investment if we have a good outlook for the future.

The advantage we have is that we are now aware that you don't have to be supper rich to invest in Bitcoin neither do you need to buy 1BTC at a go before you can start. Rather, you can start small even with as low as $10 or $20 per week which is doable for someone who have the passion and zeal to take his future finances seriously. I have read through the threads to see many fine suggestions that can enable the investor achieve this, one of them being the DCA method that I have seen to resonant with many people and is already yielding good results for those who apply it. So the question of financial sufficiency before investing does not come in because human wants are insatiable meaning that if we want to satisfy all we could ever desire before we invest, then such investment will never happen.

I am planning on separating my wants into the basic and optional so that I can balance how I allocate my income to accommodate my plan to invest in Bitcoin in a little but regular fashion. I have gotten the main information I need to get started so I have to implement what I have learnt and see how it feels to hold Bitcoin.

MainIbem

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Quote from: Ryu_Ar1 on September 20, 2024, 04:34:58 AM

Quote from: Rockstarguy on September 18, 2024, 01:02:39 PM

It is not necessary that one must have enough funds before investments must take place. The most important thing for one to have to start up investments is a steady source of income, then make plans how much amount of money will go in for investment and how mich will be for reserves and how much to be spend. Having a source of income, then make good plans and invest according to the amount you can afford to spend. Investments can only be stressful when there is no steady source of income and when there are no good plans on how to manage the money.

Right buddy, because in the end when talking about sufficiency of funds I think this is a slightly more difficult condition because regardless of our attitude in assessing the truth there will never be enough for financial matters because it will always be considered less so that when waiting for it to be enough then we will never invest because of our assumption that always feels less and wants more. But in contrast to those of us who can have a fairly maintained income every month and we can manage it well, it is certain that we will try as much as possible to set aside the income we have for investment if we have a good outlook for the future.

Yeah, that's why there's the DCA method of accumulating Bitcoin which enables investors that doesn't have enough funds to buy and accumulate gradually over time and if an investor could atleast start by investing some percentage of their income that they can comfortably invest overtime without affecting their emergency funds or money meant for other bills, they would be shocked at the amount of Bitcoin they would've accumulated in their portfolio in about a year time but when an investor keeps waiting to have enough money to by bulk at once they could miss the opportunity of accumulating and gaining profit in their portfolio especially if it took them a long interval to gather enough money. Their are many people that are aware of Bitcoin's potential they know it's beneficial but are yet to start building their portfolio because they feel the current price of Bitcoin is above their budget and are probably waiting for the dip or to have enough funds to start up. Well I hope they come across discussions like this to help them understand that investors mustn't necessarily have enough funds to start-up, they can start small and accumulate over time using the DCA.

Ryu_Ar1

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Quote from: Rockstarguy on September 18, 2024, 01:02:39 PM

It is not necessary that one must have enough funds before investments must take place. The most important thing for one to have to start up investments is a steady source of income, then make plans how much amount of money will go in for investment and how mich will be for reserves and how much to be spend. Having a source of income, then make good plans and invest according to the amount you can afford to spend. Investments can only be stressful when there is no steady source of income and when there are no good plans on how to manage the money.

Right buddy, because in the end when talking about sufficiency of funds I think this is a slightly more difficult condition because regardless of our attitude in assessing the truth there will never be enough for financial matters because it will always be considered less so that when waiting for it to be enough then we will never invest because of our assumption that always feels less and wants more. But in contrast to those of us who can have a fairly maintained income every month and we can manage it well, it is certain that we will try as much as possible to set aside the income we have for investment if we have a good outlook for the future.

mamesso

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Quote from: Rockstarguy on September 18, 2024, 01:02:39 PM

Quote from: cryptoWODL on September 18, 2024, 12:08:25 AM

The first and foremost way to be consistent in investing in Bitcoin is to have a specific investment plan and set reserve funds. Whenever investors have enough funds to invest, they will be able to continue their investments smoothly without any hindrance. If we are financially stable in terms of investment then we can buy Bitcoin whenever we want in any amount. If are talking about stress free investment then you need financial stability first because when we see bitcoin price going down in the market we get doubt and stress in our mind. So to get rid of this stress or uncertainty we need extra money so that when the market goes down we can use that money to buy bitcoins for stress free investment.

It is not necessary that one must have enough funds before investments must take place. The most important thing for one to have to start up investments is a steady source of income, then make plans how much amount of money will go in for investment and how mich will be for reserves and how much to be spend. Having a source of income, then make good plans and invest according to the amount you can afford to spend. Investments can only be stressful when there is no steady source of income and when there are no good plans on how to manage the money.

So that investment plans are not disrupted, there needs to be a Passive Income to maintain effectiveness so that investments can continue to run consistently and are not easily stressed due to falling prices. In this way, investors can achieve financial goals according to their plans. The main goal of investing is to increase wealth through passive income in the long term, the longer you invest, the greater the amount of assets collected, so the opportunity to get a return is very large. Investing an amount that you can afford to risk can eliminate emotional factors that can cause loss of concentration in investing.
Even though you don't directly mention the method used above, the direction is towards DCA. This strategy does not take much time, Investors who do DCA can minimize the potential risk of loss so that their portfolio is more optimal.

laijsica

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Quote from: JayJuanGee on September 19, 2024, 02:26:30 AM

Quote from: laijsica on September 19, 2024, 12:58:06 AM

Quote from: JayJuanGee on September 18, 2024, 05:11:06 PM

Quote from: asarfiar on September 17, 2024, 11:40:48 PM

I think deep buying is not a long-term investment strategy, it is a form of short-term market manipulation, although it can be profitable if executed correctly, but it is very important to distinguish between short-term strategic action and well-thought. -Out investment plan. Deep buying can be profitable but it also has risks, you diversify your portfolio and you allocate the ability to lose it.

If you are a brand new investor there is no need to diversify, you can start out by investing and/or saving in bitcoin and cash, and as your investment portfolio grows then you might want to consider starting to diversify some time down the road, maybe after your biitcoin holdings might have reached a certain size or maybe a certain level of your expenses.. perhaps when it gets somewhere in the range of 1 year's worth of your expenses, yet it is not absolutely necessary to diversify beyond bitcoin and cash, at least in the beginning.

New investors are often more focused on making the mistake of making more profit in the short term, which can be a misconception when it comes to Bitcoin. At least he should keep a fair holding and that may be through regular accumulate and on a weekly or monthly basis. Newbie investors should be more careful to continuously enter the market so that he/she can reduce the undesired risk. An ideal way for them is to start depositing bitcoins in DCA method and this method can be continued for a long time if they have a disposable fund.

At a later stage, if he wants to increase the deposit and his earnings tend to increase only with the increase in Bitcoin deposit, he can do so. A common mistake that a new investor makes is to decide to invest all his money in Bitcoin and its tendency to skyrocket but he must keep a logical balance of real assets invested with valuable assets and make investment decisions with the amount he can afford to lose.

I don't know what you are referring to in regard to real and/or valuable assets and that you need to have such balance in order to invest into bitcoin which you do not.

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

Stablexcoin

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Quote from: I_Anime on September 19, 2024, 05:55:19 PM

Quote from: asarfiar on September 16, 2024, 06:37:49 AM

The first thing to pay attention to when holding bitcoins is to prepare yourself mentally. BUY DIP AND HOLD by properly researching when bitcoin price is going down and when the price is going up. I think society and the environment still have a lot of skepticism about Bitcoin, which maybe puts us in a cycle when it comes to investing in Bitcoin. In fact, we are still in the early stages of discussing Bitcoin, which makes us skeptical about Holding Bitcoin. We need to gain step by step knowledge about Bitcoin and long term BTC investing strategy.

I like the word 'still early' . Most people usually take that is already too late for them to go into bitcoin investment, (which is wrong). Because we are still early and now is still the best time to hop in and start accumulating, using any method of your choice ( but one of the best and most recommend for newbies is DCAing).

The reason I mentioned this is that back then I also have , the mindset of thinking that is already late to embark in the journey of bitcoin investment. But as time goes , and after alot of researches I found out, it still early to invest in bitcoin, and after taken the decision I have been bullish ever since, I will advice one should stay away from project that promises X1000 (shitcoins) . Because same rate shitcoins can give huge profit if you are lucky, that's how it can also endup up getting one reckt.

I agree with you. There is no time that is too late to invest in Bitcoin. If it looks difficult to start because the price has increased more than the previous times, there is always an approach toward achieving it. Since they insist on procrastinating others are rushing into Bitcoin investment. I even saw a thread in the Bitcoin discussion board where someone is looking for buyers to buy his house worth $18k to $20k and yet he has not seen any buyer.

The little I have invested since when I started has become a substantial holding in my portfolio. Starting an investment now and in 5 years or a minimum of 2 years the investor will be happy why he made that choice.

Topic: Buy the DIP, and HODL! - page 143. (Read 142434 times)