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.
First of all the realmess of Bitcoin is not measured by the high price, however your notion about Bitcoin having a very high risk is totally wrong, I no that volatility is actually the reason why you think that Bitcoin is the most risky investment, so I want to let you no that volatility of Bitcoin doesn't make it to be risky because there is a high demand and supply so the market will always be moving back and front but doesn't mean that is risky to invest, however if you see Bitcoin to be highly risky what then would you say about altcoins Because if there are investment that's very risky altcoins should be regarded as such. 
Topic: Buy the DIP, and HODL! - page 53. (Read 121814 times)
~snip
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.I think with the current position of Bitcoin, that hypothesis doesn't hold. Here is my reason.
Far back as at 2010/2011/2012, when Bitcoin was still new to the world. Remember that technology wasn't advanced as at then compare to now. So many people where so sceptical, as they had doubted the future of Bitcoin. Bitcoin as at that time was like a technology that doesn't seem real, and might not even live past 5-6 years before crashing to zero. The people where so static and used to the federal financial system, which made it very difficult for them to believe a random strange technology that didn't come from the government. But over the years, we all have seen Bitcoin grow from $0 to $73K(ATH) in less than 2 decades. Now my question is, is this not enough guarantee that Bitcoin is 100% profitable?.
You see, one thing we need to understand is that Bitcoin investment works with time(long term) and our financial capabilities. The reason why so many people didn't invest in Bitcoin as at that time is that there wasn't enough proof that Bitcoin will have a place in the future. Those people who took the risk to buying Bitcoin at an early phase(2010/11/12/13/14/15) where actually the risk takers who invested without a 100% guarantee of making profits. But as it stands today, I can tell you that a newbie/new investor can start Bitcoin investment today, with a 100% guarantee of making profits in the future(as long as he/she can accumulate well, and hodl for long). Bitcoin has already secured that assurance over the years. So, as long as adoption continues, and the Bitcoin network remains intact, then it's already a sure Investment option for anyone.
Quote
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.
The stock market is not Bitcoin. I haven't seen anyone that made a long term Bitcoin investment and ended up making losses. Except you're referring to traders, which I don't think this thread discussion much about. But if there is anyone that has lost any amount to Bitcoin change in price without getting it back after Bitcoin went back up, please let me know.
Quote
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.
It is ideal for a new investor to be a little skeptical and cautious with the amount to invest, but if the newbie learn how far Bitcoin has come, I don't think that fear will be there.
Personally, I don't see Bitcoin as a risk anymore. As it stands, and as I strongly believe, I will definitely get more than I have invested in years to come. Like I said earlier, Bitcoin has lived more than a decade, so I will be waiting patiently to witness the next decade.
Quote
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.
By investing in this way, basically the investor will not fall into financial disaster.
Maybe we should also start advising every newbie to take their time to learn about how far Bitcoin has come in terms of price growth. I think they will be challenged to join the race as quick as possible.
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.
You are absolutely correct and not only newbie get scared when there's a dip even some investors usually get scared too and the reason why these investors get scared is not because they don't understand how Bitcoin works but because they don't believe in Bitcoin that much, they believe it will definitely messed up one day just like you said and this mindset can cause or make an investor not to have a good investment or achieve a desired goal. Even if we are not sure about Bitcoin future but at least it potential I mean how long it has stayed and it initial value to the current value should be enough for us to embrace and keep (accumulate). 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.
Investors who understands everything about Bitcoin volatility will not have to be worried, the dip is part of the market, most investors likely appreciates the dip more than they do for the bullish part of the market, all because they are opportune to buy Bitcoin at a much lower price compared to when the market becomes bullish. Most especially those who choose to DCA or rather buy the dip are more confident when the price begins to go below and they even become less worried, knowing fully well that it is just a phase of the market and sooner will get to experience another phase which is the bullish season.
I did some dip buying along with my dca during this period. How did you all do dca and/or dip?
for each entry then in the last 3 previous weeks your DCA should have been a form of buying dip as the market was at 49k>x<60k [taking x as the price of BTC over that period]. Thus we can even agree that we were always in a Dip right below 70k so every entry really matters either its DCA or Buying the Dip along, though buying the Dip could be very important to take opportunity of lower entry just like you did in your statement.
The thing I'm trying to emphasis on is that every entry really counts in buying Bitcoin but we can still say buying Dip along with your DCA strategy gives you more opportunity of increasing your portfolio
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.
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.
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.
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.
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.
You are absolutely correct and not only newbie get scared when there's a dip even some investors usually get scared too and the reason why these investors get scared is not because they don't understand how Bitcoin works but because they don't believe in Bitcoin that much, they believe it will definitely messed up one day just like you said and this mindset can cause or make an investor not to have a good investment or achieve a desired goal. Even if we are not sure about Bitcoin future but at least it potential I mean how long it has stayed and it initial value to the current value should be enough for us to embrace and keep (accumulate).
[edited out]
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.
There may be needs to rush bitcoin investment, yet each of us needs to be careful to not engage in behaviors that may well end up putting too much of our bitcoin o portfolio building at risk based on our own sloppiness in our cashflow management, so if we are engaging in risky techniques by investing beyond our discretionary income (such as using leverage), the we may well be devolving into gambling rather than investing, which may end up in scenarios in which we lose some or all or our BTC or otherwise unnecessarily cause traumas upon our financial and/or psychological well being... so even we have personal tendencies and desires to gamble, we have to be careful that we temper the amount of our chosen risk-taking and at least recognize the extent to which we are taking extra kinds of risks. if that is what we end up choosing to do.
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.
You are stating this weirdly, because it is true that the most that we should be investing into bitcoin would be up to the level (and quantity) of our discretionary income, which means that if we were to max out our investment of bitcoin and go beyond our discretionary income, then we end up needing some of that invested money to pay for expenses that we might have not realized that we had or that we should have had known that we had or that we should have purposefully kept some kind of float or reserves in our monthly cashflow in order to account for such possible unknown or unexpected expenses. NO one is going to save us if we fuck up and even worse if we have not left reserves for ourselves so that we have options instead of being forced to sell some or all of our bitcoin at a time that is other than our completely own choosing. It is one thing to have options and to choose to sell some bitcoin versus being forced into such situation based on our own poor planning and/or over the top actions that are completely within our own calculations including that we are responsible to protect ourselves, our finances and our psychology even from unknowns and things that are beyond our control that might end up affecting our finances and psychology. We have to figure out some level of protection that is within our balance and of course, we may well still want to attempt to invest as aggressively as we are able to invest into bitcoin without crossing overboard into territories that we end up recking ourselves due to our own sloppiness.
Regarding your reference to fuck you status... I think that it is frequently better to think about fuck you status as a stage that many of us would like to be able to reach, and of course there can be several variations or levels of fuck you status depending on what someone might be trying to achieve, so one of the most common goals might be for a guy to want to have the option to have a large enough bitcoin portfolio investment that he is able to live off the proceeds of his investment, so then he has the choice about whether to work or not since his bitcoin holdings would be large enough to sustainably support himself. We do not necessarily need to reach fuck you status in order to still be empowered by building our bitcoin holdings, since it seems quite likely that the more that we build our bitcoin holdings (and presumptively its value goes up), then the more options that we are going to end up having, even if we might not quite end up reaching fuck you status in a timeline that we would prefer to reach such status... which then brings us back to the idea of likely wanting to continue to build our bitcoin holdings in order that we can make progress towards reaching fuck you status and not putting ourselves into financial/psychological situations in which we are going to be forced to sell any or all of our bitcoin at a time that is other than our complete choosing.
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. 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.
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.
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.
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.
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.
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.
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. 
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.
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.
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.
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.
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.
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.
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. 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.
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.
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.
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.
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.
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. 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 $57,033
I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?
(Bitstamp USD$ 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?
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.
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.
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.
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.
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.
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.
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. 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.
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.
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.
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.
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.
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.
Jump to: