Topic: Buy the DIP, and HODL! - page 88. (Read 129837 times)

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.

The reason why investment can be stressful to some people is because they go for investment that is more than their income . It is easy when we know what comes in as income, then go for investment that one is capable of even after every expenses, then their won't be anything like stress.

I guess it comes down to the tradeoff of lifestyle and future security that makes investors feel pressure along the line. When people hear about Bitcoin investment they though one can succeed in it effortlessly. There must be factors that will want to shake us during the path to feel pressured and that is why I say that the way we our lifestyle determines how we treat our investment too. If we live lavishly and spend money on expensive items when we know the income is not up to that standard. It will cause one to tamper with investment when the money isn't enough at a certain point in time.

As for future security. Emergency funds, savings, and other necessities serve as a security net for us. Any investor who praticalise keeping funds for these reasons will not be in a position where tampering or hindering his investment will be the solution to his problems.

The right time is starting with the funds/ available and by doing it regularly and consistently. You can invest with a strategy that aligns to what you can afford, of which DCA profers such rather than thinking of when to invest. With a DCA strategy you can invest right away and at any moment regardless of what the market conditions may be.

Those that think of bitcoin failing or falling are still dreaming they are not in reality, bitcoin is a shift from other traditional assets/ investment,  its an assets  of its kind. It possess  a lot of potentials and growing popular and being adoption globally so while some think of bitcoin falling. Bitcoin is deep rooted in the market no matter the conditions,  bitcoin will still flourish

Yeah is good to have a certain knowledge of bitcoin before going into it. Because no one will encourage any one to go into anything they don't have idea about. But the thing is that you guys might be mistaken it when some folk kept saying that some knowledge about is not necessary before going into it . They literally meant that one don't need to possess complex knowledge about bitcoin before going into bitcoin investment, rather one just need the basics knowledge you just mentioned, ( which are how , where to buy bitcoin and where to keep bitcoin etc. ) , one is good to go with just having the basic knowledge first maybe as time goes they can focus on learning more about bitcoin as they are accumulating. Because in this space one thing that play a vital role is knowledge, with that you will be able to secure a bettet investment in a long run. And we have alot Of good folks here that doing great jobs impacting on us still.

You are wrong; smart investors will never use their bitcoin as collateral to take a loan to solve their emergency problems because they know how risky it is to keep bitcoin in the hands of third parties, which is one of the problems bitcoin has solved. Smart investors will invest in bitcoin with the money they will not need for a long time and also keep their emergency funds, reserve funds, and float, so if there's any emergency, they will depend on their emergency funds to solve it, and they will not depend on their bitcoin investment to solve the emergency. Since bitcoin total supply is only 21 million bitcoins, that makes it easier for you to lose your bitcoin when you use it as collateral to take a loan. What will be your fate if you fail to meet your loan repayment time? You will lose your precious bitcoin cheaply, which is a bad practice for any smart investor. No matter how shitty your income source could be, always make available emergency funds, reserve funds, and float so that anytime you find yourself in difficult situations, you can easily use one of the funds you kept to sort out your life and continue accumulating bitcoin.

Exactly mate, every investment needs an understanding about it before even doing it, the impression that one mustn't have good knowledge about Bitcoin before investing on it is wrong cause if the investor doesn't know much about Bitcoin, how would they know how or where to buy Bitcoin from, how would the investor know where to save and which is the best place to save Bitcoin, how would the investor even know which strategy is best for accumulating Bitcoin? All those questions are what the person who made that statement should've put into consideration before saying that. Infact before you go into anything that involves money or finance you must have a good knowledge about it so you'll be able to do it properly, for instance if JayJuanGee didn't have good knowledge about Bitcoin investment, how would he have been able to teach people about it and how to go about it the right way but from his post, you'll understand that he's an experienced investor and someone with a deep knowledge about Bitcoin and how to invest and accumulate it over time, that's why you won't see him advising people to go into trading or other risky ways of accumulating Bitcoin, therefore an investor must be very knowledgeable about Bitcoin before investing on it. Saying it a waste of time is misleading cause the investor would be wasting their time when they invest wrongly and end up losing what they're trying to accumulate.

Don't you as well think having that basic knowledge about Bitcoin before involvement is quite a good start up for a beginner? I once might have saw from this perspective but in a more relatable sense it is better off knowing as little as the basic aspect of Bitcoin which involves the process of purchasing and holding Bitcoin in a more safer space. Up till now some people are still being attacked and scammed off their portfolio on the sense of maybe starting up their investment process before learning about Bitcoin.

We might come to an agreement that it is likely more better learning about Bitcoin and avoiding further attacks instead of kicking on investing then get to experience something tragic, either by hack or whatever way possible, for someone who does not know how to protect their holdings will likely hold their investment in an exchange which is an easy option for scammers, also the exchange can as well be hacked and customers assets be stolen.

Skills as mentioned by @Litzki1990 is what is not necessarily required, Bitcoin involvement does not require those advanced knowledge before start up, anyone joining should just stick their very interest into the basic aspect and focus on accumulating, whatever skill in need of can be acquired in the long run.

In every investment start-up you need to have some good knowledge about it before starting including bitcoin too so that you don't invest in the wrong way, it's the lack of the required knowledge that makes new investors take loan to invest in bitcoin thinking that they are doing it right. Bitcoin investment may not be same with other investments and that's the more reason a newbie investor should abreast himself with the knowledge about what differentiates it from other form of investments.
How we start is very important for a long term investment, consistency and patience is very key also but some newbie investors lack the knowledge of this very principle thereby investing all they have to their name putting themselves in pressure because from the very beginning they never knew the importance of having an emergency funds available against the uncertainty of the future. So it's really no waste of time acquiring bitcoin investment knowledge before going in because it helps you have a right investment attitude in planning ahead of time.

Beautiful! This sounds like a good investment plan, though it's more savings inclined but it's worth it especially if one cannot afford big money for the investment at once. You are also one of the few who didn't call out DCA like most people do here, it's not the only investment plan as they make it look and there are factors to choosing it which doesn't include this one because the money is randomly saved into Bitcoin unlike those who already have a certain plan for it. Still, I like you to consider the price at which you save the little money in Bitcoin, prices could be disadvantageous at times, which is why it's good you wait till the price is favourable even if you'd invested some part earlier. Investing at peak levels will never be a good strike.

The right time to invest in bitcoin is now because bitcoin price waits for no one likewise time. Waiting is the dumbest thing any new investor will think of, reading and making a lot of research about when to buy bitcoin is a waste of time and a sign that you are not prepared or ready to start your bitcoin investment.

This is a wrong practice and a way to demolish your bitcoin investment by selling it when it if not of your own will because you neglect the important and necessity of emergency funds at all time when you are investing in bitcoin.

Emergency funds is not funds that you can use to buy bitcoin when the price dips because it shows that you are gambling and over buying aggressively which will later burn you. This is because you don't know when an emergency will arise and if you use your emergency funds to buy bitcoin at the dip because it's cheap and the next day a real emergency arises like the roof of your house gets pulled of by storm or you lost your job, what will you fall back to. You will sell your bitcoin investment and go back to square one.

Emergency funds should never be tampered and that is why it is good to have a reserve funds available and an emergency funds. So that when there's a dip, you can use your reserve funds to buy at the dip because you are prepared for it. If your DCA is ongoing and you don't have a reserve funds, there's no need to worry about buying more bitcoin because your ongoing DCA will still make you benefit from the dip.

No, you cannot and it is a wrong mindset.

Bitcoin investment is not like other investment that you need to have a good knowledge on before you can start investing because you will be wasting the time that you are suppose use to be accumulating bitcoin and building your bitcoin portfolio. A new investor who wants to start his bitcoin investment only needs to know about the basic knowledge of bitcoin and after that he is to figure out how much from his discretionary income that he will use to buy bitcoin without stressing himself so that he can keep his regular DCA ongoing for 4-10 years and above.

The new investor can be investing and learning more about bitcoin at the same time whike he keeps on growing and building his bitcoin investment. If you want to have good knowledge it is when you are investing that you are learning more because there are some aspect of bitcoin that you can only learn through experience and not theory. Like hodli in a long-term because that messes up with your emotions and you will learn how to control your emotions only when you are investing and have bitcoin in your possession.

Discipline and consistent mindset to be your bitcoin investment ongoing is through practice.


There is no need for a new investor to observe the market for somedays or weeks before getting started because he might miss out the opportunity in the market for delaying to buy bitcoin right away. What if during the time that you are observing the market the price of bitcoin keeps increasing, and you think that is how the price will keep increasing and you bought. You have missed out buying at a cheaper price immediately. What if after you bought and the price started dipping, and went below your expectations.

There is no need for all of time because it is impossible for anyone to know the exact direction with bitcoin price will move to and observing the market cannot give you any idea of the price movement of bitcoin and that's why you should start buying bitcoin immediately you have the money since you are on a long term ride and you know that bitcoin is volatile so the price shouldn't be your concern but your concern should be to keep your bitcoin accumulation journey ongoing persistently overtime and learn whatever you want to learn because bitcoin investment is all about buying which does not take up to 20 minutes.

Essentially we can set aside floating cash and bitcoin deposits from discretionary income to make long-term bitcoin investment decisions and we should always focus on our strengths. Some investors make impulsive investment decisions but they need to strategize themselves by following a sustainable holding pattern on their long-term basis. Although low-income investors need to burn more time to get a decent portfolio, if they have patience and accumulate bitcoins at regular intervals, it is a Time can be greatly improved even if it requires more than two cycles. Build a backup fund to save yourself from unwanted stress while running Bitcoin deposits and keep cash floating around to make every decision smooth in meeting your family's daily needs. As you accumulate a holding over time your financial strength will continue to grow as well as peace of mind.

You should have made your point more clear to the novice investors who may not have a lot of money in hand when it comes to investing in Bitcoin but they want to get Bitcoin and tend to hold it for the long term. I think investors should continue to deposit a portion of their discretionary income weekly or monthly in case they may not have enough money and should create a backup fund to protect the investment in case of future long term DCA. It is important to keep yourself stress free while depositing bitcoins regularly and tend to focus on alternative income in real life while also combining the necessary ingredients to deposit bitcoins for the long term. If an investor expects higher profits from Bitcoin in the short term, he should change his expectations and try to hold long term holdings.

Actually long term investors can also utilise the dip buying strategy. But what is important is for them to back it up by continuous buying in the form of DCA either weekly or monthly while waiting for their maturity date. It will be more beneficial to the investor that he is making use of both DCA and dip strategies rather than just sticking to buying the dip alone

By portfolio diversification are you suggesting that the investor should invest in landed properties? Or shit coins? Well for me the best advice I will give is that if an investor gotten enough Bitcoin in his portfolio and is confident that the Bitcoin he has accumulated over the years will be enough for him and his future generations then he can diversify by storing up cash reserves. I won't encourage such an investor to go and invest in any shit coins in the name of diversification. It is better to have Bitcoin and enough cash reserves than investing in any thing that will cause you troubles and sleepless nights. After all Bitcoin has been the most performing asset over the last decade. I rather keep my investment in Bitcoin where I will have rest of mind than investing in several stuffs I don't really understand.

 

I'm not asking you whether Bitcoin will DIP or not. I'm asking if it's a mistake to look buy Bitcoin during DIP periods. Because it's obviously not a mistake to take advantage of opportunities for discounts and buy more units of Bitcoin for the same amount of investment.

But I agree to the fact that the current market is mainly for DCA. The Golden Opportunity to buy the DIP for the current cycle was when Bitcoin went below the 200-Weekly SMA. We were encouraging everyone who read this topic to take the opportunity and buy.

Yes of course, having a reserve fund is very important for investment consistency.

What are the uses of having reserve fund?

Firstly Having an emergency fund allows us to continue investing risk-free, Because we can handle any emergency situation with that cash stashed fund.

Secondly when the market goes down too much. At that moment we should buy as much as possible. so we can temporarily invest the emergency money in bitcoins so that we can buy more at low prices while buying bitcoins (Not every time, it only when the price of Bitcoin will dumping a lot.) and then put the emergency money back again as soon as possible.

That means we can use that emergency fund both for investing when the price of Bitcoin is low and also for emergencies.

As a result we were able to buy a good amount of bitcoins when the price of bitcoins was low and Later, by re-depositing that emergency money, you can continue to DCA again on a regular basis. As a result, our profit margins will also be higher, and we can safely continue holding DCA for a longer period without risk.

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

Actually it is difficult for us to decide the right time to invest in Bitcoin, but we have to read and research a lot about it. Many people think about Bitcoin or navigate that it might crash to the bottom of the ocean never to rise again. But a review of Bitcoin's various histories reveals that since its inception, Bitcoin prices have acted like a cycle in the world of cryptocurrencies, which is currently a tumultuous chapter. Choose the right time and start buying and increase the stock in long term and worry less about short term price.

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

As the price field can be said to be skyrocketing as time goes by, take a closer look to see where the price is now. I therefore buy within my means and those who do not yet buy will only criticize and regret.

When it comes to investing in Bitcoin, it is very important to maintain regular investment consistency. Investing small portions regularly over long term eventually turns into a big asset, besides increasing our investment portfolio in long-term holdings due to Bitcoin's high potential, it gives us a lot of profit.

But this requires long-term planning, and financial stability is essential because we have to maintain it regularly. A certain amount should be kept invested in DCA on a regular weekly or monthly basis. In this way, it will become a habit of ours to invest regularly, as a result, the investment pressure will be reduced and you will be able to continue investing for a long time, and continue holding.

So a new investor must make a proper long term investment plan before investing. And by continuing to invest in Bitcoin and continue to hold for a long time by running DCA, an investor will definitely benefit in the long term.

We should invest in such a way that we never feel pressured to invest. This cannot be done when we want to stay away from investing when it feels pressured to us. Before investing we can plan long term but there is no problem if we invest consistently with less amount of money. If we keep depositing money little by little, then the amount of money will be much more at one time, similarly if we continue to invest little by little then the amount of investment will be much more at one time. Basically our objective is to invest and maintain investment continuity as well as hold investment for long term. It is difficult for many but the simpler we take it the easier it is for us to do it. Since investment is our personal matter, no one outside will interfere with the amount of money we have invested here, so we can make long-term investment plans if we want.

From investment experience, it is very important to set goals and plan properly before investing. You have money you can invest anytime but if you don't have good knowledge about investment or if you don't have skill in this matter but you can't be very successful in investing. No matter which workplace we go to, I am not allowed to do that work, but I have to take training for that work first.  
After training, when the organization or certain organization feels that they can do this work by me, they allow us to do that work. Who should we take investment so seriously? I learned about investment, I should do regular market observation for a few days before investing.  

After regular observation of the market one should try to invest with some amount of money but it is a very small amount of money this is practical application.  
If the investor feels that he can invest properly and can accept all the temporary loss or risk then he can step to the next step of investment later he can start the main investment.

Buying bitcoins on credit has never seemed acceptable to me as employing bitcoins. So far I have always told the people I have advised on investing that there is no problem in investing but be careful not to let it become a problem for you. Set aside an amount of money that if you don't have, it won't affect your life too badly. No matter how close you take the loan, since money is involved, you can definitely face a lot of problems in paying back this money in the future. It may also happen that after you invest your investment is at a temporary loss at that time you are pressured for money but you are forced to sell your investment and then repay the loan. So everything should be planned well in advance, if you start investing 6 months or a year late then no one will stop you but if a due date of loan repayment is delayed then the person who gave you the loan will not talk to you.