Emergencies funds are not that easy to prepare, because you must be making a lot of money to be able to put some funds aside for emergencies and still be able to take responsibility at home, this can be very demanding, so the best advice I can give anyone about Bitcoin accumulation is to get a good job, and make sure you cut your clothes to your size.
Just because your friend can buy or DCA with $100 every week into Bitcoin doesn't mean you must do the same thing, your friend's job might be paying a lot more than yours, and also the responsibility of your friend might be lower than yours, do not chase anyone when DCAing into Bitcoin.
Buy and Hold based on how much you are earning, if you are earning less, then invest less in Bitcoin, you need to remember that surviving throughout the bearish market is tasking on its own and that's why you need to invest what you can only afford to lose, it's going to be a tough ride but if all you invest is money you won't be needing for the next few years, you will make it through peacefully.
Topic: DCA vs Zone Specific Strategies While Accumulation of Bitcoins - page 2. (Read 585 times)
October 08, 2023, 06:19:17 AM
October 08, 2023, 01:11:54 AM
Simply stack Bitcoin if you have the means to do so.
I mean, paying yourself first, which includes setting aside a fixed amount of money to buy Bitcoin, works like a charm for me regardless of the market conditions. In my case, every time I win an art contest, receive my signature campaign payout, receive my monthly salary, or get paid for some freelance commissioned artworks, I make sure that every penny that fills my wallet automatically increases my Bitcoin stash.
No chart or any sort of noise. Just following a strict budgeting religiously.
The OP did good research and presentation on the various plans to accumulate Bitcoin as well as how to handle situations that might make one lose focus. But I like to keep it simple to avoid complications. For me, bitcoin accumulation is automatically embedded in my income. What that means is that when my income increases, it will affect my bitcoin holding but a reduction of my income will make me buy less. This is just my simple method because I don't have much idea about market analysis or the use of bots. Looking at the market condition can also lead to FUD, this is why I don't pay much attention to it and just focus on my accumulation plans. My profit margin is not too high to avoid missing out. I will sell some part of my coins when it gets to my target and keep others for the next phase of my plans. I mean, paying yourself first, which includes setting aside a fixed amount of money to buy Bitcoin, works like a charm for me regardless of the market conditions. In my case, every time I win an art contest, receive my signature campaign payout, receive my monthly salary, or get paid for some freelance commissioned artworks, I make sure that every penny that fills my wallet automatically increases my Bitcoin stash.
No chart or any sort of noise. Just following a strict budgeting religiously.
October 08, 2023, 12:59:40 AM
Every other thing with Bitcoin accumulation comes after a good source of income, if you are not financially stable, your Bitcoin accumulation will not be that effective, you will be sluggish about it because you are to also survive financially while buying Bitcoin, the best advice I can share with people is to find a good source of income first, how and when you will start buying Bitcoin comes after.
Some people get tired of accumulation after a while, maybe because it looks like the bull market isn't coming soon, a close friend is presently behaving in such a manner right now and I am the only one cheering him up to be strong, it seems most people are like this, they get tired along the way too quick.
Honestly, it's best to prepare yourself for the bear market before it even get started, make your money in the bull market and wait for the bear market, divide your money into three for three long years of possible bear market, and use those funds to DCA monthly as we gradually go through the bear season, things don't just get easy, you prepare for it.
Some people get tired of accumulation after a while, maybe because it looks like the bull market isn't coming soon, a close friend is presently behaving in such a manner right now and I am the only one cheering him up to be strong, it seems most people are like this, they get tired along the way too quick.
Honestly, it's best to prepare yourself for the bear market before it even get started, make your money in the bull market and wait for the bear market, divide your money into three for three long years of possible bear market, and use those funds to DCA monthly as we gradually go through the bear season, things don't just get easy, you prepare for it.
October 08, 2023, 12:50:27 AM
Strict DCA is the best. Just keep buying in any market condition. You shouldn’t modify your original investment plan though. For example, you decided to buy $200 worth of btc every week. You should do this no matter what the markets do. You shouldn’t buy more when the markets are down or buy less when the markets are up because that would be “timing the markets”. Remember, DCA isn’t about timing the markets. It is about being the market. If you do this for a long time, you will minimize your risk of losing money.
You may make more money if you go with the other route. (Timing the markets) But that requires financial education. You need to make the right guesses. DCA’ing is way easier and anybody can do it.
You may make more money if you go with the other route. (Timing the markets) But that requires financial education. You need to make the right guesses. DCA’ing is way easier and anybody can do it.
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October 08, 2023, 12:38:48 AM
Simply stack Bitcoin if you have the means to do so.
I mean, paying yourself first, which includes setting aside a fixed amount of money to buy Bitcoin, works like a charm for me regardless of the market conditions. In my case, every time I win an art contest, receive my signature campaign payout, receive my monthly salary, or get paid for some freelance commissioned artworks, I make sure that every penny that fills my wallet automatically increases my Bitcoin stash.
No chart or any sort of noise. Just following a strict budgeting religiously.
I mean, paying yourself first, which includes setting aside a fixed amount of money to buy Bitcoin, works like a charm for me regardless of the market conditions. In my case, every time I win an art contest, receive my signature campaign payout, receive my monthly salary, or get paid for some freelance commissioned artworks, I make sure that every penny that fills my wallet automatically increases my Bitcoin stash.
No chart or any sort of noise. Just following a strict budgeting religiously.
I fully agree with this. Although the OP's advice is not bad and he talks about DCA, what happens is that in a sophisticated way he also recommends accumulating more in the low phases of the market, which is fine but it also means to time the market.
As a summary, for those who don't have much of an idea and don't want too much trouble, just do strict DCA. For people with more experience and knowledge, the advice of the OP can be useful.
October 07, 2023, 05:48:59 PM
Also, anyone who invest in BTC as a passive income is sure to have another job that pays the bills and afford some necessities, otherwise as a single source of income, it might be difficult to save up or DCA when the market starts having its volatile moments.
An investment in Bitcoin is very good and lucrative but if it isn't well planed it will well lead to economic frustration and confusion because you actually can't save money and will not be willing to touch or use it when you are in need to handle the issue.
October 07, 2023, 04:13:24 PM
With your careful analysis, what I deduse is that, anyone who has taken out time to understand market trends and movements will be able to instinctively accumulate BTC with the determination and discipline to know the right percentage to invest and the percentage to keep aside.
A trader who knows when to set aside a portion of their gains from trading, will always have more to reinvest, paybills and save.
Also, anyone who invest in BTC as a passive income is sure to have another job that pays the bills and afford some necessities, otherwise as a single source of income, it might be difficult to save up or DCA when the market starts having its volatile moments.
A trader who knows when to set aside a portion of their gains from trading, will always have more to reinvest, paybills and save.
Also, anyone who invest in BTC as a passive income is sure to have another job that pays the bills and afford some necessities, otherwise as a single source of income, it might be difficult to save up or DCA when the market starts having its volatile moments.
October 07, 2023, 03:05:40 PM
Regarding with good finance and have many passive income way seems not problem for accumulating bitcoin despite on market green or red, but difficult to manage with having trouble finance spend our salary for accumulating bitcoin exactly when higher price. Need stable of financial condition to get comfortable accumulate or invest in bitcoin what ever condition or market seems not problem when have much saving use for investing in bitcoin.
But your ideas is good and adopted well not only for investor with stable financial condition but also for every one still not get dependent with their financial condition and should manage well for accumulating bitcoin from their salary payment.
But your ideas is good and adopted well not only for investor with stable financial condition but also for every one still not get dependent with their financial condition and should manage well for accumulating bitcoin from their salary payment.
October 07, 2023, 02:56:56 PM
The distribution zone in the Bitcoin's market cycle is the profit booking zone for the short-term investors who accumulated Bitcoins earlier in the Bear market & accumulation zone.
First i thought accumulation is done for the long term holding. For example if i am accumulating btc then i will or shall have a plan to when i will book the profit. Generally I will say, I would hold btc for ath that comes after halving and that time depends and is not specified. Now i need some clarifications from you that, you said, distribution zone is for booking profit from the accumulation that you had did but for the short term investors. But i would say anyone who have accumulated the BTC and are trying to book the profit in ath then they might not be considered as short term investors. Because they are at least holding the funds for 1 year and must be consider as holder (long term) I might be wrong here that's why i am asking you to please simplify it for me.
And do you know something about A/D indicator because if you are talking about accumulation and distribution then a little talk will worth it but otherwise. I also not know about A/D indicator that much just trying to get some more idea from you.
PS: BTW a nice compilation, i really like your post and keep coming with such topics.
October 07, 2023, 02:29:07 PM
now from here the markup entry will start and many will lose patience and in FOMO they will hit their badly.
I still believe we won't see the FOMO before the approval of the bitcoin ETF in the next year. If this prediction becomes true then we have a few months of accumulation zone and we might now see this level ever again in the future.
well personally I do agree that DCA is an all-rounder but in the Distribution and Markup zone hybrid DCA type of strategy with lupms and sums can be more efficient.
You can call it by a fancy name but all of them follow the basic DCA strategy which is buying bitcoin at regular intervals. Being consistent in your intervals is important because you need to make a habit of it. You can include a few more steps to make your investment efficient but the difference won't be too much.
October 07, 2023, 02:25:14 PM
Bitcoin Accumulation is dead simple if the simple dollar cost averaging strategy is employed. In the early days, the phrase "Buy low, sell high" resonated with the community. I don't see it being used much today but the key takeaway is to simply be patience and whenever the market presents an opportunity and there's a sell-off, the goal is to buy as much as your current budget allows. It's that simple in my opinion.
For users that want a more systematic approach that could lead to a slightly better result, then OP's content about market zones will come in handy. Personally, I've made my mistakes in the past but right now, I try to live a very simple life.
For users that want a more systematic approach that could lead to a slightly better result, then OP's content about market zones will come in handy. Personally, I've made my mistakes in the past but right now, I try to live a very simple life.
Quote
Bitcoin goes down, I press buy button.
October 07, 2023, 02:18:41 PM
The simple solution we have in this scenario is DCA as OP mentioned already. Another thing to keep in mind is that we need to have basic knowledge about finance and money management. Your monthly expenses and how much money you are going to save in bitcoin need to be adjusted correctly. Because in case of any emergency you might need some extra money...You need to have a plan for how you will face this situation. Investing in bitcoin with monthly savings and selling it in an emergency can be a bad habit if you want to hold bitcoin for the long term.
Investment without a proper plan & strategy execution is worthless and inefficient. The time we spent a couple of months from April to October was the best accumulation zone entry, now from here the markup entry will start and many will lose patience and in FOMO they will hit their badly.
As OP mentioned in any zone patience is the key, well personally I do agree that DCA is an all-rounder but in the Distribution and Markup zone hybrid DCA type of strategy with lupms and sums can be more efficient. OP made a very good start in covering most of the strategies with their best fitting but due to the lack of experience, I think a couple of more things left over way a decent work done by OP I would like to call over a topic where I had discussed the accumulation.
☑ Things to keep in mind before accumulation of Bitcoin
Besides that multi-cycle accumulation requires very detailed analysis before jumping into the accumulation, a couple of things must be taken into account if you are going in multi-cycle it is a multicycle for others for you consider it a single cycle of longer duration, where you'll get more back to back accumulation zones and never miss out this particular zone for a good accumulation. It can be even more efficient in buying compared to the Bear market.
October 07, 2023, 02:08:12 PM
The simple solution we have in this scenario is DCA as OP mentioned already. Another thing to keep in mind is that we need to have basic knowledge about finance and money management. Your monthly expenses and how much money you are going to save in bitcoin need to be adjusted correctly. Because in case of any emergency you might need some extra money...You need to have a plan for how you will face this situation. Investing in bitcoin with monthly savings and selling it in an emergency can be a bad habit if you want to hold bitcoin for the long term.
October 07, 2023, 01:57:31 PM
Nothing beats a perfect trading when it comes to most effective Bitcoin accumulation, but the problem is the timing. People never know when will be the next dip to buy Bitcoin and when will be the next surge to sell BTC and not get burn due to miscalculation
Instead, more people go for hodl in order to save themselves from the troubles of daily volatility of Bitcoin market. Aside from that long term holding also save investors from rigorous calculation an chart reading which at the end the prediction created is still not 100% to happen.
Instead, more people go for hodl in order to save themselves from the troubles of daily volatility of Bitcoin market. Aside from that long term holding also save investors from rigorous calculation an chart reading which at the end the prediction created is still not 100% to happen.
Security is very important, and how much or how to accumulate should not be complicated, always use yourself as the main subject you know what you can sustain a living with and what you can save up, so work with your income and as time goes you should grow.
This is actually the core point before one should go into bitcoin accumulation, the security of ones funds and this is done by the way you treat your wallet seeds phrases or keys. The key thing is setting this wallet up by yourself and not trusting third parties to do it for you even if it is some you trust. For someone going into a long term hodling the best thing should be the user of offline wallets like hardware wallets. Although it is a bit complicated but a multi sig wallet is one of the most secured with at least two co-signers, but this should be done on different to avoid a single point of failure associated with the use of master seed.
While considering the amount to invest, one should set out just an amount considerably you can lose. My take of at least 20% of your income is wise but one can go higher if they have the funds
First to accumulating Bitcoin you have to look at the benefits and the rewards, it's not profitable to accumulate Bitcoin and then lose it to scammers or hackers so you ought to protect your funds no matter the amount of Bitcoin you can afford.
Firstly you can buy Bitcoin from centralized and decentralized exchange but personally I choose to buy from decentralized exchange because it protects my anonymity and other benefits.
But below is a list if decentralized exchange and centralized exchanges
https://bitcointalksearch.org/topic/m.29885570
Also never leave your funds in an exchange that's why you need to have a personal wallet, I use cold storage wallet to save my Bitcoin because it's offline and more secured.
You can use this for educational tool about cool wallet setup.
https://electrum.readthedocs.io/en/latest/coldstorage.html
Security is very important, and how much or how to accumulate should not be complicated, always use yourself as the main subject you know what you can sustain a living with and what you can save up, so work with your income and as time goes you should grow.
Firstly you can buy Bitcoin from centralized and decentralized exchange but personally I choose to buy from decentralized exchange because it protects my anonymity and other benefits.
But below is a list if decentralized exchange and centralized exchanges
https://bitcointalksearch.org/topic/m.29885570
Also never leave your funds in an exchange that's why you need to have a personal wallet, I use cold storage wallet to save my Bitcoin because it's offline and more secured.
You can use this for educational tool about cool wallet setup.
https://electrum.readthedocs.io/en/latest/coldstorage.html
Security is very important, and how much or how to accumulate should not be complicated, always use yourself as the main subject you know what you can sustain a living with and what you can save up, so work with your income and as time goes you should grow.
We can always invest in bitcoin for any reason as far as we have the endurance to wait patiently to see the harvest of what we have invested come to pass, this now have to be under our own personal discretion to see if we are going for a particular aspect that warrant for such or not, some are short time traders and we know while others are long time investors who don't mind leaving their bitcoin for a longer period of time, they don't mind buying at any time since they know that it will take them time before they will be able to release.
To accumulate Bitcoin better, you must have good finance and good personal financial management for yourself, your family and your investment. Your investment should come to like your last priority because you and your family must survive, live well first.
If you have good job(s), good income, you can have more source of capital for investment after using part of your income for necessary expense and surely have money for emergency.
After you have fund, best strategy is Dollar Cost Averaging (DCA) with which you will make accumulation without emotion and you will be less affected by psychology cycle of market.
If you have good job(s), good income, you can have more source of capital for investment after using part of your income for necessary expense and surely have money for emergency.
After you have fund, best strategy is Dollar Cost Averaging (DCA) with which you will make accumulation without emotion and you will be less affected by psychology cycle of market.
You just said it all because most of the people who go Into DCA'ing doesn't really know they needs additional source of income to be able to withstand their family pressure and even though one must invest, it should be a moving business is there to take absolute care of the family and family needs to relief oneself from financial stress. Most times DCA'ing mostly good when there is a reserved funds which one can used for as backup funds to cover up every expenses without dipping hands into the investment during the DCA period.
To accumulate Bitcoin better, you must have good finance and good personal financial management for yourself, your family and your investment. Your investment should come to like your last priority because you and your family must survive, live well first.
If you have good job(s), good income, you can have more source of capital for investment after using part of your income for necessary expense and surely have money for emergency.
After you have fund, best strategy is Dollar Cost Averaging (DCA) with which you will make accumulation without emotion and you will be less affected by psychology cycle of market.
If you have good job(s), good income, you can have more source of capital for investment after using part of your income for necessary expense and surely have money for emergency.
After you have fund, best strategy is Dollar Cost Averaging (DCA) with which you will make accumulation without emotion and you will be less affected by psychology cycle of market.
Exactly right on point. It is my mindset when I started doing the DCA (dollar-cost averaging) mid-last year regardless of the market condition, cycle, etc. I honestly have less belief in “cycles” in which anything can change unexpectedly without warning.
This is why even if BTC went downhill last time, I was not concerned that much and I just kept on doing DCA. I always make sure that the money I’ve saved for family and emergency is my top priority and investments are at the very least in the priority list.
It is important about educating ourselves with the right mindset and approach when it comes to money management and financial situations regardless if we’re single or having our own families.
Simply stack Bitcoin if you have the means to do so.
I mean, paying yourself first, which includes setting aside a fixed amount of money to buy Bitcoin, works like a charm for me regardless of the market conditions. In my case, every time I win an art contest, receive my signature campaign payout, receive my monthly salary, or get paid for some freelance commissioned artworks, I make sure that every penny that fills my wallet automatically increases my Bitcoin stash.
No chart or any sort of noise. Just following a strict budgeting religiously.
I mean, paying yourself first, which includes setting aside a fixed amount of money to buy Bitcoin, works like a charm for me regardless of the market conditions. In my case, every time I win an art contest, receive my signature campaign payout, receive my monthly salary, or get paid for some freelance commissioned artworks, I make sure that every penny that fills my wallet automatically increases my Bitcoin stash.
No chart or any sort of noise. Just following a strict budgeting religiously.
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