Topic: Do you still advised more buy and store? - page 5. (Read 2197 times)

DCA is one of the best decisions I've ever made despite that I'm a little too late last year. I should have started DCA when BTC was still around $12k to $16k sometime in mid-2020. I've made a mistake of letting BTC go that time due to having lack of patience and faith.

Karma hit me hard when BTC flew past $20k days after I sold my BTC. So I make sure of not making that mistake again by doing DCA with my extra "not beer" money last mid-2022. However, I started DCA around $30k to $31k price before it dipped and hang on somewhere around $19k to $23k price.

As of this time, I am at a profit and decided to keep holding and anticipate for the halving next year and also speculating about pending ETFs like Blackrock to be approved that would be a possible big catalyst to a potential bull run.

I agree with your opinion, if we collect crypto by purchasing a fixed amount when we get the income we have, of course this will be very good and we will also be able to get results from the investments we make. Managing our spending budget well so that we can invest regularly will certainly make us get additional income from the investments we make, you are right, if we don't have too many expenses that we don't need, it would be better for us to invest at least wait for the ATH to arrive can benefit from the investments we make.

I still stand in my word to buy the dip and pray for the halving to favour you.
Accumulation of BTC is a surety mostly when one knows how stable and more reliable it is for the long run. DCA is still the best proven strategy to get rich slowly, because it would be more profitable after years of accumulated BTC has been liquidated.

I hope you followed your new plan for the last few months and didn't sell your coins early. Buying fixed amounts of crypto currencies each month is the best approach in my opinion to build a big portfolio over time. Many other users here on the forum also recommend the so called DCA method. When you take your investment money directly at the start of the month away you don't face the risk or overspending. I can understand that you want to help our your family financially, but just make a monthly budget for it and if it's not enough post pone some expenses for the next month. When building a portfolio it's all about the longterm, which is why I wouldn't sell too early. As long as you don't need the money I would recommend storing it and wait at least for a new ATH. With the halving coming up next year there will be more positive impulses for the crypto world.

Do the best way that you can use it and other needs can also be met, there are a number of ways you can do it, but the nature of this is not to force your entire salary to buy. DCA is a good strategy for you to implement and make regular purchases every time you get a salary from work, so that you can carry out investments and other needs as family responsibilities can also be met properly.

You have a good understanding of bitcoin and should give careful consideration to the decision. Bitcoin is one way to maintain the value of the currency you own, placing money in bitcoin is an effort to maintain the value of the currency you own to be more productive by buying bitcoin and storing it in the long term. Technically holding and trading are two good things but it depends on how you are able to carry it out, I prefer holding large percentages and trading only for small percentages to fulfill my desire to learn trading to make small profits.

In my opinion, OP's plan is good, and I also think that while doing it, OP's also a long-term holder, from what I see in him. Actually, what he will do is really good, because the implementation of DCA in the upcoming halving next year is a big factor for him to quickly accumulate assets that he really wants to have because he believes that it is possible to increase the value in the market in the future.

Although there is still a risk, he doesn't care because he has high expectations for Bitcoin and it is his choice after all.

Op, Bitcoin price is always unstable, that is why the word volatility is introduced to it, you don't wait when the market balance, do you even know when the market will be stable, the right to invest in Bitcoin is when your mind is convinced that you are ready, if you are a daily, weekly or monthly earner, just make your budget for the month, if you have savings already and you know that you are much more ready to embark on this journey you can divide your savings and use part of it to invest, there is no harm in trying but make sure you got the knowledge needed so that you won't go astray, I don't like telling people about altcoin for a reason, that reason is, from the day I find out that the price of bitcoin is higher than altcoin and also the when there is price upward for bitcoin alternative coin follow gradually, in see bitcoin as the best among all.

These services depend on your fiat currency, invest in crypto with the amount of money you can afford to lose. Also, if you want to earn, then you must continue investing and trading. If you are planning to invest for a long time, then you should definitely hold on to the investment from any location. And if you constantly want to earn money in your daily life, then definitely trade according to the special strategy. Moreover, you should always use DCA in the case of trading. If you keep this method always on, you will surely make a profit and not suffer a loss. Because there are many times when the market starts to be volatile which is the reason for which the chances of facing losses are high, if you use the DCA method you will save a lot and your money will be safe. As bitcoin is not a stable currency you can invest and hold this currency from anywhere it will give you high returns but plan for long term. You must always plan positively, only then you can profit from Bitcoin and you must use DCA methods in trading.

honestly its such improtant thing to solve the basic problem first, otherwise it'd mess up the investment in the long run. but investing in stablecoin nowaday could also be said to be waste of time, because APY promised aren't as high as the other, its just enough to overcome inflation but nothing more. even bitcoin which supposed to be really effective for investment only when capital is huge is having more APY than stablecoin.
personally i'd go with bank deposits instead, no risk of contract breach or something.
therefore in my opinion its better to invest into other form of investment like altcoin, or even better with bitcoin because the yearly returns significantly higher in my opinion.

  Even in the short term, it can still bring profit, as long as you have knowledge about this matter. The only people who often do this are those investors who are willing to wait for a long time or years until the value of Bitcoin increases and who want to hold it even if they don't know or study it yet.

  That's why not all are long-term investors, because there are capitalists who want to grow their capital immediately in a short period of time, so they enter the short-term. That's why high risk also comes in, of course, because there is no You know a lot about this; the others are just basing it on their instincts, or others just say it, or because they were just carried away by the hype of the trend, so that's it, which I think is not good anyway.

Many people in this group already mentioned this, but still, I am telling you that, first, deal with your family issues, and then, at the end of the day, if you get any money to invest, then invest. But remember, if you don't have time for daily trading, don't invest in any memes or shitcoins. Just invest in stable coins. That's up to you, but it only benefits you in the long term, not the short term. Don't worry about price fluctuations because that's what crypto currencies are made for, so think carefully, take your time, and make a decision. Remember, all this advice is not financial aid, just friendly advice.

We do know that not all does have the patience for them to wait up for long or couple of years before they would really be able to see their profits on which this is why they've been deciding that they
would really be doing such short term trading or investment so that they could be able to see those profits without needing on waiting up for long term. Even myself would really be that considering
to be that too impatient on things on which i do only make some partition on which i do have a moon bag and i have an active bag which i would really be that supposedly to deal up with prices on active manner. Yes, its risky but for you to be in order to make out some money then you should really be that making such step for you to have that kind of opportunity.
We do know that not all would really be that risk takers and they would really be that preferring holding instead on making those active trades.

We can always make profits from holding whatsoever coin till the bull market will come to us and we can earn profits from our holdings. Buying and accumulated more is not compulsory for us only if we have the capacity and the mind to take risks from cryptocurrency projects we are holdings. Crypto investment can be very profitable if we can be patient and invested our money in a good project that have good team and community to support the project liquidity and momentum. There are investment that would need our patience so we don't have to complain too much.

Actually, op dude's plans are good. Maybe the other communities who want to have or save Bitcoin but they can't do it simply because of the situation or difficulty they can't prioritize it. But if we look at it, it seems to be easy on his part because obviously the state of his source of income is also good or good.

And I just don't understand. It's true that there's nothing funny about what's being discussed here because it's about investment. And since this is the point of the subject, DCA is really the best method.

Actually buying and hodling has a lot of advantages than just trading alone. I’ve been hodling some assets on Bitget exchange for some periods now and at the same time I’m using the same asset for flexible savings on Bitget’s shark fin product in order to make interest of up to 7% on my savings every month. The recent upsurge in price came and my asset also increase while I still earn my monthly interest, for these reasons I prefer to hodl than just to trade alone.

Yes, maybe you mean that investment is only allowed for those who have the ability from various sides, especially those who have enough financial support, but on the other hand we will not always be able to force someone, especially those who have good financial capabilities to get involved in this investment, because obviously everyone has their own sense of interest in anything, some are interested in investing even though they don't have good financial capabilities and some are not at all interested in getting involved in investment even though they have financial capabilities, of course it depends on themselves.

You have given one of the best approaches for those who want to get involved in investment especially for those who are not very capable in terms of finance, allocating budgets with different time periods as you said like for example once a week or once a month with consistency and that is a good approach. DCA does provide convenience for anyone who wants to get involved in terms of investment accumulation, it is not complicated at all and you only need to set the allocation of money that you want to put in the investment that you trust, this method is very suitable especially for those beginners, do not need to spend a lot of time to pay attention to the chart of the market, and all you need to do is stay consistent with the same amount in each period of your allocation.

Investment is not compulsory for everyone but those who can afford it must invest. We who discuss investment here but we have no interest but whoever invests will enjoy the results of investment. Since investment is not compulsory for anyone, a person can invest at any moment from his own capacity. Many have discussed that if unable to invest at all, an investor can invest a certain amount of money monthly or weekly. I think this is a very good aspect. If you can invest in this way every week or every month, you will save a certain amount of money along with your investment and your expenses will come down. Maintaining investment consistency is important for everyone.

Just imagine that the money you spend on Bitcoin is savings money, not money for daily needs that should always be spent. Investing is a complicated language than saving, and if you've ever saved, it should get easier.

Always calculate your salary and the most important thing is to allocate it for your daily needs. If it takes up 50% of the entire salary you get, then you can allocate investment or savings of 30%, you can use the rest for an emergency fund if there are sudden needs that cannot be avoided.

To get a percentage formula for allocating your salary, you can use your own theory or ask for help from a financial advisor. If possible, you can regularly buy Bitcoin every week or maybe every month. It will accumulate your wealth in Bitcoin.

It is not funny. Why would you think people find it funny or laugh at you when you focus on accumulating your salary? good that you can actually do that when you have salary and you can take a pay cut so that you can invest on Bitcoin. There's no other way if you're going to do that, as long as you are happily investing in bitcoin and it is not cutting your monthly budget.

Luckily for people like you that's able to invest in Bitcoin using their monthly salary. There is no need for you to get stressed and show to the others that you can do that because you'll never know if they're jealous of how flexible you are and how can you do that. While many struggles and find it hard to invest, you're there freely doing it so keep up the good work.

Because it is you that will see the results of it in the end and the benefit that will give you shall be seen whenever we come back to the bull run. And it is not going to take a longer time until we see that finally happen again. It's just a matter of time then.

Before you begin to implement any plan, it must be drawn up and thought out completely, from beginning to end, when you will buy, for what amount, or percentage of income and when you finish buying, at what price. Obviously, buying Bitcoin when it becomes too expensive and is close to reaching ATH is not worth it, this will make your average purchase price not very attractive. I stopped buying Bitcoin when the price rose to 30k, for now I am accumulating savings, if the price drops below my level again, I will start buying again.