You can invest in BTC, whenever you have the money and you will be happy to hodl BTC because if you miss this season bear run base on, you don't have the money to buy BTC, you can prepare yourself against next bear season which is what make many people to value BTC hodling than other cryptocurrencies.
Why do you think we should wait until there is a bear market before we invest? Bitcoin investment shouldn’t be seasonal, you don’t have to wait until there is a bear market before you make an investment. If you have money, you can make your investment at any moment, just make use of the DCA strategy to accumulate your bitcoin. And whenever there is a dip in the market, if you have extra money with you at that particular time, you can just take advantage and increase your holding. But don’t wait until there is a dip before investing in bitcoin, because no matter how bitcoin dips, lots of people will keep on waiting for it to drop more and won’t invest.
Topic: Buy the DIP, and HODL! - page 79. (Read 121896 times)
Quote from: Issa56
Quote from: Egii Nna
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
You can invest in BTC, whenever you have the money and you will be happy to hodl BTC because if you miss this season bear run base on, you don't have the money to buy BTC, you can prepare yourself against next bear season which is what make many people to value BTC hodling than other cryptocurrencies.
No body will invest all his salary in Bitcoin it is not done anywhere except the person is insane
Maybe you haven’t seen someone like that before, but it’s really happening. I have come across different people who are ready to invest all the money they have with them in bitcoin. Just because of what they hear about bitcoin from other people, they already think that if they invest in bitcoin, they will quickly be able to increase their money, and they don’t even know they can lose when they invest in bitcoin. Most of the people who do crazy things like this lack basic knowledge about bitcoin, most of them are new to crypto, and they just follow what they see on social media. Well said. Which brings forth the necessity for proper orientation about Bitcoin also highlighting the risk and mental tenacity involved. I believe Social Media, fake gurus have pushed illusion of success, fantasies about Crypto space which isn't true to the masses which makes some persons take wrong steps.
In essence it advisable, we manage our risks.
Quote from: Issa56
Quote from: Egii Nna
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
You can invest in BTC, whenever you have the money and you will be happy to hodl BTC because if you miss this season bear run base on, you don't have the money to buy BTC, you can prepare yourself against next bear season which is what make many people to value BTC hodling than other cryptocurrencies.
This thread is actually focused on long term holders as can be seen from the caption. So all the suggestions and recommendations are directed towards long term holding. To better enjoy Bitcoin investment, we should endeavour to think long term. This way we would have ample time to build a Bitcoin portfolio that will grow into something significant and the risk is very minimal compare to those engaged in short term investment and trading that do incur losses when they can no longer wait, hence decide to sell when price refuses to move.
Quote from: Issa56
Quote from: Egii Nna
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
You can invest in BTC, whenever you have the money and you will be happy to hodl BTC because if you miss this season bear run base on, you don't have the money to buy BTC, you can prepare yourself against next bear season which is what make many people to value BTC hodling than other cryptocurrencies.
It is better not to come up with ideas that will delay or deprive you from accumulating bitcoin right away as a no coiner so that you don't end up being a low coiner after 10 years and above and start regretting how dumb you were when you hand the opportunity to buy and increase your bitcoin investment overtime. The earlier the better for no coiners to start their bitcoin investment because bitcoin price and time waits for no one since you are investing for your future.
Quote from: Issa56
Quote from: Egii Nna
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
You can invest in BTC, whenever you have the money and you will be happy to hodl BTC because if you miss this season bear run base on, you don't have the money to buy BTC, you can prepare yourself against next bear season which is what make many people to value BTC hodling than other cryptocurrencies.
Yes it won't change your life within weeks or only a few months, but if you have spare cash then you have the choice between bunkering it under your pillow or comparing assets that you would like to potentially hold because you think they will increase in value. The thing is that you can own satoshis in bitcoin, but you can't really own a tiny fraction of real estate. I think there are some possibilities out there, but nothing grants you as much self control as bitcoin does. It is a young innovative technology and it is far more inclusive and accessible than gold is. It still seems that a lot of people are hesitant because they only want to buy tangible things that they can touch, but ever since the world went digital I think it is high time to go with the times. To not own bitcoin is probably a bigger mistake than owning at least some and learn that it was the wrong decision to buy it if it goes down in value forever. But when you see what the younger generations are willing to spend money, then it is far more likely that a digital currency will thrive. They buy gloves and swords in World of Warcraft and spend a fortune on ring tones for their mobiles. They buy digital flowers and send it to their girlfriends and most of the time the value of these digital items is zero and yet they buy it.
And last but not least the risk of bitcoin crashing to zero isn't any higher than big banks crashing to zero. I am not saying all of them, but the financial system is very fragile whereas bitcoin has proven to be remarkably robust. The interest in the bitcoin network being healthy forever is genuine, the interest of bankers for their banks to be healthy only refers to whatever terms they serve the bank. Whenever the chance comes, they will take the gamble and put tax payers and customers at risk.
And last but not least the risk of bitcoin crashing to zero isn't any higher than big banks crashing to zero. I am not saying all of them, but the financial system is very fragile whereas bitcoin has proven to be remarkably robust. The interest in the bitcoin network being healthy forever is genuine, the interest of bankers for their banks to be healthy only refers to whatever terms they serve the bank. Whenever the chance comes, they will take the gamble and put tax payers and customers at risk.
There are lots of ways to accumulate bitcoin or start from scratch. Bitcoin has big plus that you can start with as low as 1$ and there is no upper limit also. But to me the key factor in Bitcoin investment is consistency, even if you are investing 50$/100$ per week make sure you do it with consistency. There might be times when someone will have extra cash and he can invest more at that time. Such strategy will help people with low cash in getting good amount of Bitcoin (or your desired number of Satoshis/Bitcoin) over a period of time. Our first and foremost target should be to get our desired number of Satoshis/Bitcoin and then we can adjust our investment accordingly.
No body will invest all his salary in Bitcoin it is not done anywhere except the person is insane
Maybe you haven’t seen someone like that before, but it’s really happening. I have come across different people who are ready to invest all the money they have with them in bitcoin. Just because of what they hear about bitcoin from other people, they already think that if they invest in bitcoin, they will quickly be able to increase their money, and they don’t even know they can lose when they invest in bitcoin. Most of the people who do crazy things like this lack basic knowledge about bitcoin, most of them are new to crypto, and they just follow what they see on social media. 
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss.
If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
No body will invest all his salary in Bitcoin it is not done anywhere except the person is insane, the money will invest in Bitcoin is our Discretionary income and what is Discretionary income is the amount of money left for an individual to spend or use after sorting out his or her personal needs, so let's get this right and you can as well use your Discretionary income to build your backup funds along side your Bitcoin and if you are done building your backup funds you can focus on your Bitcoin accumulation and even become aggressive if you no it won't affect you.If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
One don't need to have enough money before he can go into Bitcoin investment, if you are receiving a little salary a full month and you wish to invest in Bitcoin you can, if after your monthly expenses you are lift with a Discretionary income.
We have been saying it continuously and it has happened again, now that the market is gong bearish for some investors to find it more suitable for their entry opportunity using any investment strategy or pattern like buying to hold for a long time investment or DCA at this time, the both are useful in having consideration towards, though we may also need to work more better on our strategies before investing, as sometime it also help along in achieving the best of the investment plan we have set as priority to do.
Indeed we have another opportunity to add more to out bitcoin holding because the price is very attractive now. There is no point waiting for further dips unless the play is to continue to buy all the way to anywhere the price might decide to turn from. In my observation, the most suitable way to go about buying bitcoin under the market condition is the DCA method. This is because you never can tell if the market will be willing to go lower from this point or if it will range in that zone and start moving high thereby making those waiting for further dips to miss the chance of entering. I see the market as offering free money now to those who can see the opportunity therein. This is because the retracement have been long and by now their are already a lot of people who have secured their position and others still doing so now.
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
One don't need to have enough money before he can go into Bitcoin investment, if you are receiving a little salary a full month and you wish to invest in Bitcoin you can, if after your monthly expenses you are lift with a Discretionary income.
If it is not part of your discretionary income and the right amount that will make you keep your DCA ongoing overtime, there is a high odds that you will sell part of your bitcoin when an emergency arises because you will be short of funds to take care of a real emergency when it arises. When you over invest aggressively with DCA, it is a bad practice because you will end up shooting yourself on your foot by selling what your were building faster because your were in a rush.
DCA is the best for new investors but it must be done with proper cash management and availability of emergency funds and reserve funds so that you will be able to hodli for long without any problem that will may you fall back to your bitcoin as the only option.
One can cut down his expenses in other to invest in bitcoin or look for a second means of income in which he can use the pay from the second job as his discretionary income to enable him invest in bitcoin if he is willing to invest.
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
Because indeed if the emergency fund is not prepared, the BTC will be sold partly to cover the needs, especially if it is sold at a loss, it is clear that your investment losses will not grow because it continues to be disturbed by your needs.
Investing must have a stable income, especially if there are other sources of income then it is better because it will cover all needs how many percent will be available for bitcoin investment.
If income is still small increase income opportunities first or hone skills that can make you make more money after that you are ripe in investing bitcoin with its adjustments.
We have been saying it continuously and it has happened again, now that the market is gong bearish for some investors to find it more suitable for their entry opportunity using any investment strategy or pattern like buying to hold for a long time investment or DCA at this time, the both are useful in having consideration towards, though we may also need to work more better on our strategies before investing, as sometime it also help along in achieving the best of the investment plan we have set as priority to do.
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
One don't need to have enough money before he can go into Bitcoin investment, if you are receiving a little salary a full month and you wish to invest in Bitcoin you can, if after your monthly expenses you are lift with a Discretionary income.
We have to come out of our comfort zone to get something big. I don't have enough cash to go for Lump-Sum investment so I prefer to go with 100$ per week (i.e. DCA method). If that money is available to me easily per week then it's fine otherwise I have to look for cuts to manage my investment. Don't think that investing 100$ in one or two month will take you to good financial status in future.
Do enjoy life but managing capital for investment must also be one of top priority for good future otherwise you will end up in loss. To me financial cuts mean, cutting down spending's on outdoor food (that is good for your health too), luxury items like branded clothes, wrist watches etc. There are spending's in our lives which we all can easily cut down without putting too much stress on our life styles.
Yes it won't change your life within weeks or only a few months, but if you have spare cash then you have the choice between bunkering it under your pillow or comparing assets that you would like to potentially hold because you think they will increase in value. The thing is that you can own satoshis in bitcoin, but you can't really own a tiny fraction of real estate. I think there are some possibilities out there, but nothing grants you as much self control as bitcoin does. It is a young innovative technology and it is far more inclusive and accessible than gold is. It still seems that a lot of people are hesitant because they only want to buy tangible things that they can touch, but ever since the world went digital I think it is high time to go with the times. To not own bitcoin is probably a bigger mistake than owning at least some and learn that it was the wrong decision to buy it if it goes down in value forever. But when you see what the younger generations are willing to spend money, then it is far more likely that a digital currency will thrive. They buy gloves and swords in World of Warcraft and spend a fortune on ring tones for their mobiles. They buy digital flowers and send it to their girlfriends and most of the time the value of these digital items is zero and yet they buy it.
And last but not least the risk of bitcoin crashing to zero isn't any higher than big banks crashing to zero. I am not saying all of them, but the financial system is very fragile whereas bitcoin has proven to be remarkably robust. The interest in the bitcoin network being healthy forever is genuine, the interest of bankers for their banks to be healthy only refers to whatever terms they serve the bank. Whenever the chance comes, they will take the gamble and put tax payers and customers at risk.
Especially by following the DCA method any investor can maintain his holding for a long period of time. Because it basically controls the buying price and helps in deep buying. Because you can invest in bitcoins in two ways one is when you buy in the deep market, and secondly you invest by following the regular DCA method.
Because both new and old investors can achieve success by adopting this strategy. Because this is the only method where all investors have been successful using this method since the beginning of Bitcoin, the longer the DCA method investment, the more Bitcoin you can accumulate.
There are actually more than two investment strategies some of which are Lump sum investment, DCA, Buying the dips etc. DCA is actually different from buying the dip, unlike the dip DCA is done at certain intervals which doesn’t have to be when the price is low, it frees you from the stress of having to monitor the market, it doesn’t control the buying price it just allows you to invests the little amount you can afford. DCA is actually an effective strategy used by a lot of investors nowadays but doesn’t mean other strategies are not effective. Because both new and old investors can achieve success by adopting this strategy. Because this is the only method where all investors have been successful using this method since the beginning of Bitcoin, the longer the DCA method investment, the more Bitcoin you can accumulate.
We have to come out of our comfort zone to get something big. I don't have enough cash to go for Lump-Sum investment so I prefer to go with 100$ per week (i.e. DCA method). If that money is available to me easily per week then it's fine otherwise I have to look for cuts to manage my investment. Don't think that investing 100$ in one or two month will take you to good financial status in future.
Do enjoy life but managing capital for investment must also be one of top priority for good future otherwise you will end up in loss. To me financial cuts mean, cutting down spending's on outdoor food (that is good for your health too), luxury items like branded clothes, wrist watches etc. There are spending's in our lives which we all can easily cut down without putting too much stress on our life styles.
Do enjoy life but managing capital for investment must also be one of top priority for good future otherwise you will end up in loss. To me financial cuts mean, cutting down spending's on outdoor food (that is good for your health too), luxury items like branded clothes, wrist watches etc. There are spending's in our lives which we all can easily cut down without putting too much stress on our life styles.
Bitcoin savings does not require you to do more than what you can afford in a weekly, quarterly or monthly basis. If you can still have $100 weekly after spending for all your needs for that week been it basics or no basic needs and still have some reverse funds left for emergency, then putting all the remaining $100 into your bitcoin savings is a good idea. The savings should be done in such a way that when something happens, your bitcoin savings should be your last option to touch from that’s why even after all necessary things have been catered for the week, you still need to have emergency savings in case of emergency that always come unexpected or unannounced.
Yes, besides, we are still new because I haven't reached 2 years of regularly buying bitcoin. Yes it is a challenge for me to continue doing it with regular purchases every week. Cash flow can sometimes be a problem but so far I've managed to overcome it and not miss an opportunity to continue accumulating.
I remember that the supply of bitcoin is limited and if new people join in long term investment of course they will buy and hold it so that circulation will become increasingly scarce and the price of bitcoin will rise very significantly. That's just my imagination and hope it happens in the decades to come.
I remember that the supply of bitcoin is limited and if new people join in long term investment of course they will buy and hold it so that circulation will become increasingly scarce and the price of bitcoin will rise very significantly. That's just my imagination and hope it happens in the decades to come.
Other factors can also contribute to the rise of bitcoin in terms of little circulations in the future. Even though new people come into bitcoin, don’t forget that they’re some bitcoins in some wallets stack away and no access to them forever, those bitcoins can never get into circulation again which will also contribute more to the scarcity and affect the price of bitcoin by that time. People will sell after every bull season, but those sells cannot be compared to those that will be holding for many years to come.
Yes, besides, we are still new because I haven't reached 2 years of regularly buying bitcoin. Yes it is a challenge for me to continue doing it with regular purchases every week. Cash flow can sometimes be a problem but so far I've managed to overcome it and not miss an opportunity to continue accumulating.
Could you share with us how you managed to overcome it? at least we could learn from your practical experience and be informed of yet another strategy of overcoming limited cash flow in DCA bitcoin accumulation, if I am right that is what this thread is about, learning to be a good investor and more knowledge can still be grabbed by reading about how others managed to solve their financial constraints in DCA bitcoin accumulation. We grow by learning from others.Quote
I remember that the supply of bitcoin is limited and if new people join in long term investment of course they will buy and hold it so that circulation will become increasingly scarce and the price of bitcoin will rise very significantly. That's just my imagination and hope it happens in the decades to come.
This is not only about new people joining, even old people who relentlessly continue their bitcoin accumulation journey without stop. The more bitcoin is bought and adopted by more people and also retained by current investors, the better chances of price increment. Current investors are still encouraged to keep expanding their bitcoin portfolio periodically with DCA because the more bitcoin is bought and hodl, the greater opportunity of the law of demand and supply would have its way in it and create more demand than supply and the price will keep increasing which would in turn continue appreciating the value of the bitcoin we are currently holding and better securing our financial future, so bitcoin accumulation is a collective effort of both old and new investors because our relentless purchases has a lot positive effect in bitcoin price appreciation. Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss. If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.
Of course, it is good to assign a fixed amount from our discretionary income into regular buying of bitcoin through DCA weekly or monthly but sometimes this might not be possible because it is not of our own control but based on our expenses that arises in different weeks. If you observe sometimes we might spend more than what we budget for the week due to increase in our needs for that week and sometimes we might spend less due to decrease in our weekly expenses.
In such scenarios the investor might choose to invest $50 weekly but when the expenses of his needs increases, he can cut down his DCA amount to $40 for that week and if his expenses on another week decreases, he might increase his DCA amount to $60. The most important thing is that the investor did not stop buying but continues buying no matter how small he could buy in a week.
Also an investor might have an increament in his monthly income, or has an additional means of income along the line of his bitcoin accumulation journey, he will increase the amount that he is using to DCA in order for him to buy bitcoin more aggressively as long as he did not over do it.
There can also be a case where an investor did not have any discretionary income on that week because of too much responsibility for the week and his discretionary income was exhausted, such investor don't need to worry that he did not buy bitcoin for that week and he will just hodli and buy the next week. Another scenario is if the investor loses his job at that moment, he is to pause his bitcoin accumulation until he gets a new job while he feeds with his emergency funds and reserve for the main time till he gets a new job and continue accumulating. If you have the funds to keep on buying don't stop just keep on buying.
In such scenarios the investor might choose to invest $50 weekly but when the expenses of his needs increases, he can cut down his DCA amount to $40 for that week and if his expenses on another week decreases, he might increase his DCA amount to $60. The most important thing is that the investor did not stop buying but continues buying no matter how small he could buy in a week.
Also an investor might have an increament in his monthly income, or has an additional means of income along the line of his bitcoin accumulation journey, he will increase the amount that he is using to DCA in order for him to buy bitcoin more aggressively as long as he did not over do it.
There can also be a case where an investor did not have any discretionary income on that week because of too much responsibility for the week and his discretionary income was exhausted, such investor don't need to worry that he did not buy bitcoin for that week and he will just hodli and buy the next week. Another scenario is if the investor loses his job at that moment, he is to pause his bitcoin accumulation until he gets a new job while he feeds with his emergency funds and reserve for the main time till he gets a new job and continue accumulating. If you have the funds to keep on buying don't stop just keep on buying.
There must be some income weekly or monthly dedicated for investment in Bitcoin. Once share for Bitcoin is finalised one has to cut his extra spending's if he want to regularly invest in Bitcoin. One can made cut on some dinners at restaurants or what ever he thinks is extra spending. If you never cut your spending's then you can't find cash for Bitcoin. Having said that if we do a sacrifice on our extra spending's today then there is bright chance that our future will be bright. If someone has any doubt about that then he must refer to Bitcoin historical price chart.
There is one thing that I want you to understand in bitcoin: no matter what when you are investing, that doesn’t mean that you will have nothing to you for your personal self, or that means you should not enjoy yourself. No, even though we all know that we need profit in bitcoin and we want the investment, we still have to invest the money that we can afford losing. That is the point, and if you restrict yourself from having all that you are already using just for the sake of investment, then what do you think will happen if someone happens to your investment? Even though we know that bitcoin is the number one trusted and reliable cryptocurrency to invest in without panicking about anything, that doesn’t mean you will always have a profit. Time will come that you will also lose, even though it is not much, but sometimes it tends to be much.
All I want you to understand is that when I invest in bitcoin, you should always know that you don’t have to break yourself or your bank to achieve that because you will end up selling to fix other problems, and from there, that has affected your investment for a long time, so let us know what we are doing in the crypto space.
....Besides, it worth knowing that DCA strategy could enclosed other strategies in itself .. depending on what you see as lumpsum, someone's lumpsum could be a DCA plan for another person.
Yes, JJG, maybe that will be a wise understanding for us in managing everything to be more appropriate in investing in the long term. Of course, what I can take from your explanation is of course the accuracy of the pattern that we think is set as well as possible with the capital we have in buying Bitcoin.
On the one hand, I really like to learn from the experiences of early people who got into Bitcoin, so I give the example of those who have large capital and your answer is quite good. Even though it has nothing to do with us, on the one hand we want to learn and not make mistakes.
Yes, besides, we are still new because I haven't reached 2 years of regularly buying bitcoin. Yes it is a challenge for me to continue doing it with regular purchases every week. Cash flow can sometimes be a problem but so far I've managed to overcome it and not miss an opportunity to continue accumulating.
I remember that the supply of bitcoin is limited and if new people join in long term investment of course they will buy and hold it so that circulation will become increasingly scarce and the price of bitcoin will rise very significantly. That's just my imagination and hope it happens in the decades to come.
On the one hand, I really like to learn from the experiences of early people who got into Bitcoin, so I give the example of those who have large capital and your answer is quite good. Even though it has nothing to do with us, on the one hand we want to learn and not make mistakes.
Yes, besides, we are still new because I haven't reached 2 years of regularly buying bitcoin. Yes it is a challenge for me to continue doing it with regular purchases every week. Cash flow can sometimes be a problem but so far I've managed to overcome it and not miss an opportunity to continue accumulating.
I remember that the supply of bitcoin is limited and if new people join in long term investment of course they will buy and hold it so that circulation will become increasingly scarce and the price of bitcoin will rise very significantly. That's just my imagination and hope it happens in the decades to come.
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