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...... Anyone can actually hold their emergency funds for years not minding the time because at any slight mistake it will take time to build another better emergency funds meanwhile without a stable emergency funds an investment can’t stand firm.
Topic: Buy the DIP, and HODL! - page 70. (Read 121870 times)
Yesterday I made a big investment decision, I am thinking of setting up a separate fund for my investments to ensure continuity of my investment and to make the investment long term.
Basically the main purpose of setting up this separate fund is to use that fund at critical times. People can face danger and need money any time, if I have a big financial need and if I have a big problem, that's why I decided to set up a separate fund so that my investment doesn't get irregular. Basically I will use this fund for a very limited period of time, when I find that I can't spend money on investments, I will spend money from that emergency fund and continue investing. When I have money again and things are back to normal, I will put the money I took from my emergency fund back into that separate fund. I don't know how you see it, but I think it might be acceptable and right for me.
We all have personal decision and opinion in terms of our investment, the one fact about emergency funds is our funds should not stay empty or it’s either you replace back the funds. Whenever an investor face challenges investing the reserve funds can serve as an alternative but, our emergency funds should be accessible not because it’s available for use. Anyone can actually hold their emergency funds for years not minding the time because at any slight mistake it will take time to build another better emergency funds meanwhile without a stable emergency funds an investment can’t stand firm. Basically the main purpose of setting up this separate fund is to use that fund at critical times. People can face danger and need money any time, if I have a big financial need and if I have a big problem, that's why I decided to set up a separate fund so that my investment doesn't get irregular. Basically I will use this fund for a very limited period of time, when I find that I can't spend money on investments, I will spend money from that emergency fund and continue investing. When I have money again and things are back to normal, I will put the money I took from my emergency fund back into that separate fund. I don't know how you see it, but I think it might be acceptable and right for me.
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You would be surprised about how many old people prefer to die with a lot of money in the bank and under their pillow instead of buying watches, cars or go on a cruise. Many of them own a house or two because they prefer to be independent. But the main reason is what once you reached a target you worked towards for many years because you always thought you want pure luxury all day long, there is something going on with many people that keeps them from sending their money without thorough consideration. I believe that bitcoin is such an asset. Sure if you are a whale and you are sitting on a bag of 30,000 BTC like Tim Draper, selling some wouldn't hurt you, but often times even these people keep this asset. Draper bought at just over $600 and still holds 29,600 BTC. Why? Why wouldn't someone who bought for a little less $18 million not sell for $18 billion? It's a question someone should ask themselves before they consider getting rid of their holdings because they feel like buying a new car.
Wow. You don't need to use any such extreme examples of someone who might well be set for life with bitcoin and potentially leading a relatively modest life, and even someone who is sitting on 100 BTC and with hardly any other assets may well have put himself into a position of being somewhere close to a whale in terms of potentially being able to live off the bitcoin with anywhere between $5k and $10k per month worth of spending (withdrawing that much from the bitcoin holdings every month - or the equivalent monthly amounts on a quarterly or yearly basis), and also it would quite likely be the case that the bitcoin value in terms of dollars would be growing in value faster than his withdrawal of the BTC and also faster than the rate of the debasement of the dollar, so even if he is living off of his bitcoin at such rate of between $5k to $10k per month, he could reassess where he is at every few years to decide whether he might be at liberty to increase his income and still have a BTC stash that is sufficiently sustaining its value. So sure, there could be lifestyle considerations and also considerations if he is ONLY supporting himself or if he is also submitting an family, and of course, where he is at in the world will likely affect his expenses, too.
If someone who have huge amount of Bitcoins decides to sell part of their holdings and invest in more valuable asset it is considerable instead of selling to acquire luxury things that are not bringing anything to you
I doubt that there is any better (or more valuable asset) than bitcoin, yet a person might choose to withdraw bitcoin to either consume or to even diversify his assets, including potentially getting some enjoyment out of something like a house, even if a house would not have very high likelihood of being a better investment than bitcoin, but still people do get value and senses of satisfaction and even comfort by various kinds of property ownership, whether considered as investmennt properties, or consumption properties or some combination of property characteristics..
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It may be true that if you are in that situation you will make two decisions, the first is to get luxury goods/houses or everything that you have dreamed of for years, and the second decision is that you will think wisely about the bitcoin investment that has been built from a long time ago. Yes, my answer is maybe if we have achieved the desire to have a luxury home and at that time all your wealth that you have in BTC. If it happened to me, maybe I would only sell some BTC and the others I would keep for years to come. The reality is someone who has fallen in love with Bitcoin of course will not leave BTC in the investment that he will make. So at this point we can rebuild our BTC portfolio by accumulating every week because we only sell some BTC just to satisfy ourselves with our dream of having a luxury home.
This often happens to the wider community where they change their lifestyle when they have reached the level of wealth that they have built from the investments they have made. I remember one word, fulfill your dream when you are able to achieve it. Yes, that is a common thing and we remain in our position to have BTC and also have a luxury home. Just sell some of it and buy it back through DCA, of course, slowly you will have the BTC back like before you sold it.
You would be surprised about how many old people prefer to die with a lot of money in the bank and under their pillow instead of buying watches, cars or go on a cruise. Many of them own a house or two because they prefer to be independent. But the main reason is what once you reached a target you worked towards for many years because you always thought you want pure luxury all day long, there is something going on with many people that keeps them from sending their money without thorough consideration.
I believe that bitcoin is such an asset. Sure if you are a whale and you are sitting on a bag of 30,000 BTC like Tim Draper, selling some wouldn't hurt you, but often times even these people keep this asset. Draper bought at just over $600 and still holds 29,600 BTC. Why? Why wouldn't someone who bought for a little less $18 million not sell for $18 billion? It's a question someone should ask themselves before they consider getting rid of their holdings because they feel like buying a new car.
There is different between the whales and the ordinary investors because while the lower investors are still struggling to build their portfolio, the whales already has huge stash which even if they decide to sell it won't still affect their holdings. However it will be unwise if someone decides to sell part of their Bitcoin holdings just to acquire a liability in form of assets just because you want to feel luxury or you want to live a larvish lifestyle. If someone who have huge amount of Bitcoins decides to sell part of their holdings and invest in more valuable asset it is considerable instead of selling to acquire luxury things that are not bringing anything to you
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It may be true that if you are in that situation you will make two decisions, the first is to get luxury goods/houses or everything that you have dreamed of for years, and the second decision is that you will think wisely about the bitcoin investment that has been built from a long time ago. Yes, my answer is maybe if we have achieved the desire to have a luxury home and at that time all your wealth that you have in BTC. If it happened to me, maybe I would only sell some BTC and the others I would keep for years to come. The reality is someone who has fallen in love with Bitcoin of course will not leave BTC in the investment that he will make. So at this point we can rebuild our BTC portfolio by accumulating every week because we only sell some BTC just to satisfy ourselves with our dream of having a luxury home.
This often happens to the wider community where they change their lifestyle when they have reached the level of wealth that they have built from the investments they have made. I remember one word, fulfill your dream when you are able to achieve it. Yes, that is a common thing and we remain in our position to have BTC and also have a luxury home. Just sell some of it and buy it back through DCA, of course, slowly you will have the BTC back like before you sold it.
You would be surprised about how many old people prefer to die with a lot of money in the bank and under their pillow instead of buying watches, cars or go on a cruise. Many of them own a house or two because they prefer to be independent. But the main reason is what once you reached a target you worked towards for many years because you always thought you want pure luxury all day long, there is something going on with many people that keeps them from sending their money without thorough consideration.
I believe that bitcoin is such an asset. Sure if you are a whale and you are sitting on a bag of 30,000 BTC like Tim Draper, selling some wouldn't hurt you, but often times even these people keep this asset. Draper bought at just over $600 and still holds 29,600 BTC. Why? Why wouldn't someone who bought for a little less $18 million not sell for $18 billion? It's a question someone should ask themselves before they consider getting rid of their holdings because they feel like buying a new car.
If they can buy in bulk then maybe its good for them but if they do DCA maybe they should start as early as they can since this is I think more better decision to do compare of waiting for unnecessary dumps.
You could do both.¯\_(ツ)_/¯
Of course, you can do both.
Yet, the mere fact that you can do both does not mean that you need to do both or that it would be preferable to do both.
Each person has to decide regarding the extent to which one approach might be better than another in the context of his own circumstances.
Purposefully holding off for dips seems to be way more logically justifiable after a BTC accumulator had already accumulated a decent amount of BTC, and even then, they may mis-assess how much is a decent amount of BTC, so likely it remains way better for a BTC accumulator to largely focus on regular DCA buying through a whole BTC cycle before starting to try to strategize buying dips, unless they have abilities to front load their BTC investment, which would have had put them into a different position from someone who is ONLY able to invest 10-15% or less of his disposable income into bitcoin.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP. There is nothing wrong with thinking about a formula for yourself, even though some newbies may end up better reversing those numbers or to have all or almost all dedicated to DCA buying and little to none dedicated to buying dips, especially as some members already mentioned that they are going to be buying dips and non-dips through DCA,and also that there is no real way to know whether more dip is coming or not, yet surely any person could have some kind of a regular buying of $100 per week and then after becoming concerned that there might be more dip, convert over to buying $70 each week and holding the remaining $30 to buy on dips and perhaps set some kind of dip parameters, and if the dip parameters are somewhat restrictive (or at least not getting triggered), then perhaps after 10 weeks, $300 might end up building up, so even the amount of money building up (for the purpose of buying the dip), could end up contributing to some needs to reconsider how to allocate the money... and yes, individual choices.. including that the person might also receive some kind of an unexpected bonus (let's say $1,000), so then might need to consider how to allocate that money in terms of buying the dip money, DCA allocating or perhaps buying right away with some or all of it, and so sometimes receiving some kind of unexpected amount of extra cash (or discretionary income) can provide a lot of relief due to providing additional options regarding how to treat such extra cash that came into the picture.
I merely use the 200-Weekly SMA as a guide to ascertain a "Golden Opportunity DIP". It's currently $38,670, if the price crashes near that or under, that's high probability a good purchase.
If you have money available to buy at that price, sure.. no problem, yet it can be problematic to hold very much value out of anticipation of such potential dip prices that might not end up playing out.
By the way, I surely don't know if I am very likely to be correct or not, yet for several months, maybe half a year or more, I have been suggesting that I would be willing to bet that the BTC spot price does not go any lower than 20% above the 200-WMA until the end of 2025, so that means that I have been anticipating that the odds are less than 50/50, and that is why I am willing to make such bet - yet at the same time, having bets with something in the ballpark of 50/50 odds is not really expressing a whole hell of a lot of confidence, yet maybe at least enough confidence to enter in the bet with an expectation that the odds of winning are greater than the odds of losing... so yeah, in recent times, the 200-WMA has been moving up between around $30 to $45 per day, and currently in the lower end of that range, yet surely as the BTC price goes up then the amount that the 200-WMA moves up per day will likely also move up.. and right now, BTC spot price is right around 52% higher than the 200-WMA. https://bitcoindata.science/withdrawal-strategy.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
Using 10% of monthly salary by salary earners is not a bad idea, I consider this one of the best approach when it comes to DCA, cause one would still have reserve funds as a leverage to take advantage of the market when their's a massive dip for instance about weeks ago when Bitcoin fell below $50k. This is the more reason why it's advised that people shouldn't loan money to go into Cryptocurrency, imagine if someone made entry with a loaned money at $60k plus and the market declined below $50k they'll end up being in a big mess cause I wonder how they'll pay off the debt, investing on Bitcoin especially when someone is using the DCA method is meant for those who got a stable income and not some jobless person trying to alleviate themselves with the little funds they got through Bitcoin.I don't have any problem with folks trying to figure out some kind of a target amount that they are going to invest and/or save, and I recall that even when I was young, I would try to target something like 10% or more of my gross income to invest and/or save.
Of course, as you mentioned, there is a bit of devil in the details, and we should attempt to use the correct language, which is that no one should be investing more than their discretionary income, which truly some people have higher levels of discretionary income than others, yet sometimes we can also increase our discretionary income by increasing our income and/or cutting our expenses. So we an assess how much of our discretionary income is part of our gross income, yet we can also assess how aggressive we are going to be in terms of our use of our discretionary income for investing/savings rather than for consumption. There is no one correct formula, yet those who are more aggressive in regards to the amount of their discretionary income they invest into bitcoin are likely going to progress more greatly in their bitcoin investment, yet they might end up sacrificing other areas of their personal life, so they likely need to find some kind of a reasonable balance... that also allows them to feel that they are making reasonable progress in their bitcoin accumulation journey.
It could be the case that some people think about their investment as something that they build up and then when they reach their target they exit, but that does not seem like a good way of thinking about bitcoin, especially if you might be able to wrap your mind around the reaching of your target just means that you change your strategy and maybe you are not so much focused on accumulating bitcoin any more, but the mere fact that you are not focusing on accumulating, does not necessarily mean that you should want to or need to sell (at least not to sell in large proportions).
Just because a person does not have a plan to sell his BTC does not necessarily mean that he does not have a target, even though some folks might have somewhat vague ballpark ideas of their target in the beginning, so they might not be sure about when they might be getting close to their target, yet, if every year (or whatever basis) they are reassessing the value of their BTC in light of their goals and wants in life, they might start to consider ways to hone or to specify their target in such a way that they would be able to define what they want more clearly based on the quantity of BTC they had accumulated up to that point, which might cause them to transition into some other stage, such as maintenance stage or even some kind of a sustainable withdrawal stage, which I would also not characterize sustainable withdrawal as a way to get out of bitcoin, but instead a way to just withdraw from it on a regular basis, whether making price-based withdrawals and/or making time based withdrawals.
Just because a person does not have a plan to sell his BTC does not necessarily mean that he does not have a target, even though some folks might have somewhat vague ballpark ideas of their target in the beginning, so they might not be sure about when they might be getting close to their target, yet, if every year (or whatever basis) they are reassessing the value of their BTC in light of their goals and wants in life, they might start to consider ways to hone or to specify their target in such a way that they would be able to define what they want more clearly based on the quantity of BTC they had accumulated up to that point, which might cause them to transition into some other stage, such as maintenance stage or even some kind of a sustainable withdrawal stage, which I would also not characterize sustainable withdrawal as a way to get out of bitcoin, but instead a way to just withdraw from it on a regular basis, whether making price-based withdrawals and/or making time based withdrawals.
I think you couldn't be more accurate here. I would add though that it might a question of needs and opportunities. If you reached the accumulation target for BTC and the price is amazing (whatever that means) and in the neighborhood out of a sudden there is this once in a lifetime opportunity to buy that house that you ever dreamt of, then maybe it is also a question of satisfaction that can become decisive. Now if that means I am forced to sell off everything in BTC and then top of that take a mortgage to get it financed, I should probably think twice (unless I have some deadly disease and want to live in a dream place for a short time...).
It's true that people can have a target without actually intending to sell by then. Regarding the price, the truth is that we are still so early days that I think nobody can reasonably estimate where BTC will end up or peak for a long time. I will be honest and say it could be anything. If governments start racing for accumulation because they once and for all understood that bitcoin has geopolitical relevance, well, how much does there even remain for us normal human beings? And this is not an unrealistic scenario. It's probably already happening for sure apart from El Salvador.
I just remember people saying that BTC will never reach 1,000 USD, then they said it will never reach 10,000 USD, then they doubled that number, then institutions started to announce that bitcoin could change the world, then governments were involved in various ways like selling seized BTC, which actually legitimates it because governments can't prohibit something that they sell themselves.
So many details to consider here. I am curious to see where this is heading in the next 5 - 10 years. It doesn't mean we won't see crashes. For sure there will be crashes as with any asset that is subject to herd behavior, but bitcoin is very often fought back in the recent past when some experts announced that there will be a black swan event.
The reality is someone who has fallen in love with Bitcoin of course will not leave BTC in the investment that he will make. So at this point we can rebuild our BTC portfolio by accumulating every week because we only sell some BTC just to satisfy ourselves with our dream of having a luxury home.
This often happens to the wider community where they change their lifestyle when they have reached the level of wealth that they have built from the investments they have made. I remember one word, fulfill your dream when you are able to achieve it. Yes, that is a common thing and we remain in our position to have BTC and also have a luxury home. Just sell some of it and buy it back through DCA, of course, slowly you will have the BTC back like before you sold it.
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It could be the case that some people think about their investment as something that they build up and then when they reach their target they exit, but that does not seem like a good way of thinking about bitcoin, especially if you might be able to wrap your mind around the reaching of your target just means that you change your strategy and maybe you are not so much focused on accumulating bitcoin any more, but the mere fact that you are not focusing on accumulating, does not necessarily mean that you should want to or need to sell (at least not to sell in large proportions).
Just because a person does not have a plan to sell his BTC does not necessarily mean that he does not have a target, even though some folks might have somewhat vague ballpark ideas of their target in the beginning, so they might not be sure about when they might be getting close to their target, yet, if every year (or whatever basis) they are reassessing the value of their BTC in light of their goals and wants in life, they might start to consider ways to hone or to specify their target in such a way that they would be able to define what they want more clearly based on the quantity of BTC they had accumulated up to that point, which might cause them to transition into some other stage, such as maintenance stage or even some kind of a sustainable withdrawal stage, which I would also not characterize sustainable withdrawal as a way to get out of bitcoin, but instead a way to just withdraw from it on a regular basis, whether making price-based withdrawals and/or making time based withdrawals.
I think you couldn't be more accurate here. I would add though that it might a question of needs and opportunities. If you reached the accumulation target for BTC and the price is amazing (whatever that means) and in the neighborhood out of a sudden there is this once in a lifetime opportunity to buy that house that you ever dreamt of, then maybe it is also a question of satisfaction that can become decisive. Now if that means I am forced to sell off everything in BTC and then top of that take a mortgage to get it financed, I should probably think twice (unless I have some deadly disease and want to live in a dream place for a short time...).
It's true that people can have a target without actually intending to sell by then. Regarding the price, the truth is that we are still so early days that I think nobody can reasonably estimate where BTC will end up or peak for a long time. I will be honest and say it could be anything. If governments start racing for accumulation because they once and for all understood that bitcoin has geopolitical relevance, well, how much does there even remain for us normal human beings? And this is not an unrealistic scenario. It's probably already happening for sure apart from El Salvador.
I just remember people saying that BTC will never reach 1,000 USD, then they said it will never reach 10,000 USD, then they doubled that number, then institutions started to announce that bitcoin could change the world, then governments were involved in various ways like selling seized BTC, which actually legitimates it because governments can't prohibit something that they sell themselves.
So many details to consider here. I am curious to see where this is heading in the next 5 - 10 years. It doesn't mean we won't see crashes. For sure there will be crashes as with any asset that is subject to herd behavior, but bitcoin is very often fought back in the recent past when some experts announced that there will be a black swan event.
Basically I will use this fund for a very limited period of time, when I find that I can't spend money on investments, I will spend money from that emergency fund and continue investing. When I have money again and things are back to normal, I will put the money I took from my emergency fund back into that separate fund. I don't know how you see it, but I think it might be acceptable and right for me.
Because of how unpredictable emergency situations are, it's best to keep our emergency funds and never use it for your investment purpose. I know that the issue you're likely considering is that when you keep that emergency funds for a long period of time without using it, it might appear as though you're wasting it for nothing but that's not the case. It's better to have an emergency funds you're not spending but that's lying dormant and ready for the time you would want to utilize it than using your emergency fund to buy Bitcoin and when you are faced with an unplanned event, you're forced to sell your Bitcoin to sort out your emergency.If you do the required planning and allocate a certain portion of your earning for your DCA and then another for your upkeep and then the third portion for your emergency funds, it's going to help you have a balanced investment routine. Maybe at this start you might not be all that strong financially to set all these in place but you just have to set a structure that you're going to follow when things falls well in place and start investing and implementing them In a little way.
I think none of us missed buying on dips today. Yes Btc touched $57860 today, an opportunity for us to increase Btc holdings when the price drops. Basically, fund allocation should be prioritized because at times like this we can increase purchases to be more aggressive. As OP said buy dips and hold them, so when the price drops we have to make the most of it.
If there are no reserve funds, it is quite regrettable if we have to miss the opportunity to buy during a decline like today. For that, arrange the distribution of funds as well as possible to be able to take advantage of the reversal when it happens suddenly. DCA certainly works as it should and purchases when the price drops can also be done if we are good at setting strategies in long-term investment planning.
There is no need to regret if we don't have extra funds during this period the price dipped then it is not something to be worried about. There will be a next time to buy the dip. it could even be below the amount we consider as the dip currently. We don't have to push ourselves too hard to buy the dip, and many people make such a mistake. It makes them tamper with other money that was supposed to be for something else other than Bitcoin investment which may affect our economic and needy aspect of life. Many people go as far as using meant for tuition fees, upkeep, health and to mention a few to buy the dip without considering the effect of doing so. If there are no reserve funds, it is quite regrettable if we have to miss the opportunity to buy during a decline like today. For that, arrange the distribution of funds as well as possible to be able to take advantage of the reversal when it happens suddenly. DCA certainly works as it should and purchases when the price drops can also be done if we are good at setting strategies in long-term investment planning.
I believe there will even be a better opportunity to buy the dip soon. $57860 isn't the last dip.
Missing the dip because of too much loads just to survive is not a problem as far as one doesn't always wait for the dip to take place to buy bitcoin but also use the DCA method to buy bitcoin whenever money is available to buy bitcoin. As far as one understands that their is no perfect time to buy bitcoin, even if the person is not able to buy bitcoin during the dip because of financial challenge I don't think the person is really missing out because there is always a chance to buy bitcoin whenever one can afford it.
Yes, almost everyone wants to get Bitcoin at a dip, but the question is: do we know when the dip will happen again? The answer is no, because nobody can accurately predict Bitcoin's price. So, why should anyone who really wants to invest in Bitcoin wait for a dip that they don’t know when it’s going to happen? Some people have been waiting for Bitcoin to dip again so they can accumulate more, but I think this approach is wrong. Someone could be waiting for something they have no assurance of. Instead of waiting for a dip that is uncertain, why not adopt the DCA (Dollar Cost Averaging) strategy? This approach allows you to buy Bitcoin at different prices as you invest regularly, whether weekly or monthly.This method has enabled many people to accumulate Bitcoin, and as they continue to do so, they also see the advantage of it. By buying at different prices, whether during a dip or at a higher price, their wallet value hardly decreases anyhow.
Purposefully holding off for dips seems to be way more logically justifiable after a BTC accumulator had already accumulated a decent amount of BTC, and even then, they may mis-assess how much is a decent amount of BTC, so likely it remains way better for a BTC accumulator to largely focus on regular DCA buying through a whole BTC cycle before starting to try to strategize buying dips, unless they have abilities to front load their BTC investment, which would have had put them into a different position from someone who is ONLY able to invest 10-15% or less of his disposable income into bitcoin.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
I merely use the 200-Weekly SMA as a guide to ascertain a "Golden Opportunity DIP". It's currently $38,670, if the price crashes near that or under, that's high probability a good purchase.
If his salary or income increases, he can also increase his DCA amount. However, if a brand new investor who does not understand much about bitcoin and wants to invest immediately, he can start with 5% of his salary for one - two years and when his confidence and trust increases, he can increase the amount to 10% or more since he c an afford it and that will not affect his monthly expenses, since he only wanted to start with a little amount in the beginning. The size of your emergency funds will also determine how aggressive you will be when increasing the amount that you will use for your regular DCA.
Purposefully holding off for dips seems to be way more logically justifiable after a BTC accumulator had already accumulated a decent amount of BTC, and even then, they may mis-assess how much is a decent amount of BTC, so likely it remains way better for a BTC accumulator to largely focus on regular DCA buying through a whole BTC cycle before starting to try to strategize buying dips, unless they have abilities to front load their BTC investment, which would have had put them into a different position from someone who is ONLY able to invest 10-15% or less of his disposable income into bitcoin.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
I merely use the 200-Weekly SMA as a guide to ascertain a "Golden Opportunity DIP". It's currently $38,670, if the price crashes near that or under, that's high probability a good purchase.
Yesterday I made a big investment decision, I am thinking of setting up a separate fund for my investments to ensure continuity of my investment and to make the investment long term.
Basically the main purpose of setting up this separate fund is to use that fund at critical times. People can face danger and need money any time, if I have a big financial need and if I have a big problem, that's why I decided to set up a separate fund so that my investment doesn't get irregular. Basically I will use this fund for a very limited period of time, when I find that I can't spend money on investments, I will spend money from that emergency fund and continue investing. When I have money again and things are back to normal, I will put the money I took from my emergency fund back into that separate fund. I don't know how you see it, but I think it might be acceptable and right for me.
Basically the main purpose of setting up this separate fund is to use that fund at critical times. People can face danger and need money any time, if I have a big financial need and if I have a big problem, that's why I decided to set up a separate fund so that my investment doesn't get irregular. Basically I will use this fund for a very limited period of time, when I find that I can't spend money on investments, I will spend money from that emergency fund and continue investing. When I have money again and things are back to normal, I will put the money I took from my emergency fund back into that separate fund. I don't know how you see it, but I think it might be acceptable and right for me.
Quote from: sotelorene
Quote from: MainIbem
Quote from: Wind_FURY
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
Investing with 10% of our weekly or monthly salary is a bit small and a bit high depending on what is been received weekly or monthly, that is to say there are investors who's salary is very small to the extent that they barely sustain themselves till next salary and there are also investors who receive handsome salary that even if the salary is been divided into 3 parts, 1 part of it can be enough till the other month so this kind of investor 10% will be like a child's play. In summary the percentage to use for investment is dependent of the weekly or monthly salary.
Dude, lets be specific what we are talking or discussing here is not cryptocurrency rather what we are talking about is Bitcoin investment and going to loan money to do crypto is very risky and then again you are sounding like a trader because even you invest or made an entry when the price of Bitcoin was/is $60k plus and then the market declined to $50k that doesn't make investor to be in a mess unless you are trading I mean that's volatility it is band to happen and sooner or later it will take an uptrend.
This is BTC investment we are talking about here not cryptocurrency or fiat investment, but don't forget that some people use loan to make profits from BTC investment, but I will not encourage anyone to use loan to invest in BTC to make profits because is a big risk in BTC when the price remain low through out the year and it will make you not to live comfortable in your environment.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
Investing with 10% of our weekly or monthly salary is a bit small and a bit high depending on what is been received weekly or monthly, that is to say there are investors who's salary is very small to the extent that they barely sustain themselves till next salary and there are also investors who receive handsome salary that even if the salary is been divided into 3 parts, 1 part of it can be enough till the other month so this kind of investor 10% will be like a child's play. In summary the percentage to use for investment is dependent of the weekly or monthly salary.
Dude, lets be specific what we are talking or discussing here is not cryptocurrency rather what we are talking about is Bitcoin investment and going to loan money to do crypto is very risky and then again you are sounding like a trader because even you invest or made an entry when the price of Bitcoin was/is $60k plus and then the market declined to $50k that doesn't make investor to be in a mess unless you are trading I mean that's volatility it is band to happen and sooner or later it will take an uptrend.
I think none of us missed buying on dips today. Yes Btc touched $57860 today, an opportunity for us to increase Btc holdings when the price drops. Basically, fund allocation should be prioritized because at times like this we can increase purchases to be more aggressive. As OP said buy dips and hold them, so when the price drops we have to make the most of it.
If there are no reserve funds, it is quite regrettable if we have to miss the opportunity to buy during a decline like today. For that, arrange the distribution of funds as well as possible to be able to take advantage of the reversal when it happens suddenly. DCA certainly works as it should and purchases when the price drops can also be done if we are good at setting strategies in long-term investment planning.
There is no need to regret if we don't have extra funds during this period the price dipped then it is not something to be worried about. There will be a next time to buy the dip. it could even be below the amount we consider as the dip currently. We don't have to push ourselves too hard to buy the dip, and many people make such a mistake. It makes them tamper with other money that was supposed to be for something else other than Bitcoin investment which may affect our economic and needy aspect of life. Many people go as far as using meant for tuition fees, upkeep, health and to mention a few to buy the dip without considering the effect of doing so. If there are no reserve funds, it is quite regrettable if we have to miss the opportunity to buy during a decline like today. For that, arrange the distribution of funds as well as possible to be able to take advantage of the reversal when it happens suddenly. DCA certainly works as it should and purchases when the price drops can also be done if we are good at setting strategies in long-term investment planning.
I believe there will even be a better opportunity to buy the dip soon. $57860 isn't the last dip.
Missing the dip because of too much loads just to survive is not a problem as far as one doesn't always wait for the dip to take place to buy bitcoin but also use the DCA method to buy bitcoin whenever money is available to buy bitcoin. As far as one understands that their is no perfect time to buy bitcoin, even if the person is not able to buy bitcoin during the dip because of financial challenge I don't think the person is really missing out because there is always a chance to buy bitcoin whenever one can afford it.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
Purposefully holding off for dips seems to be way more logically justifiable after a BTC accumulator had already accumulated a decent amount of BTC, and even then, they may mis-assess how much is a decent amount of BTC, so likely it remains way better for a BTC accumulator to largely focus on regular DCA buying through a whole BTC cycle before starting to try to strategize buying dips, unless they have abilities to front load their BTC investment, which would have had put them into a different position from someone who is ONLY able to invest 10-15% or less of his disposable income into bitcoin.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
I merely use the 200-Weekly SMA as a guide to ascertain a "Golden Opportunity DIP". It's currently $38,670, if the price crashes near that or under, that's high probability a good purchase.
It really never be a bad idea to use 10% of our monthly salary to buy bitcoin if this is what we can afford. If they think other people that this is small amount then let them think about that. Maybe they are rich that's why they say about that. What's important is they are accumulating and for sure that numbers will not remain like that since for sure that there are times we earn extra money then used it to buy bitcoin.
For sure we still have good balance to have especially if they decide to hold it for long years. Its really challenging to separate some funds for investment if we have personal obligations from our family. But if the person is really eager to make their life became more better for sure there's always a way to make everything they want to happen. Also we should never invest all our money since for sure that we will have or encounter an issue if we do this.
Purposefully holding off for dips seems to be way more logically justifiable after a BTC accumulator had already accumulated a decent amount of BTC, and even then, they may mis-assess how much is a decent amount of BTC, so likely it remains way better for a BTC accumulator to largely focus on regular DCA buying through a whole BTC cycle before starting to try to strategize buying dips, unless they have abilities to front load their BTC investment, which would have had put them into a different position from someone who is ONLY able to invest 10-15% or less of his disposable income into bitcoin.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
I merely use the 200-Weekly SMA as a guide to ascertain a "Golden Opportunity DIP". It's currently $38,670, if the price crashes near that or under, that's high probability a good purchase.
If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.
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