Do you still advised more buy and store? - page 9.

YOSHIE

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Those who act in crypto trading and investment, need courage and a good understanding of the current market situation, where we know the crypto market is currently unstable, I want to say the bear market is not brave, on the contrary, I want to say the bull market is also not brave, the belief is to do everything the best method at the moment, if you want to do it.

Many Bitcoin experts say now is the right time to buy and not a few say now is the time to stop buying, these two understandings make many Bitcoin users in general hesitate, buy it or not, that's the main factor that makes what else confusing for small users.

However, if you ask me personally, I can only say buy and store, but you need additional information for that from a reputable Bitcoin expert, so you don't get caught in a big loss.

Latviand

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It's a fine line between selling and keeping. The market is quite dynamic, and this line needs to be felt. Otherwise, it is quite difficult to get a result.

You need to also consider the fact that some people are recklessly investing their hard earned money in bitcoin without regards to their other daily expenses, remember that the pump won't happen anytime soon so take the time to accumulate your bitcoins.

Gladitorcomeback

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy Bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Everyone invests according to their financial position, if you have half of it, there is nothing wrong with it. If you have already invested in Bitcoin and you can put some of your salary every month to invest more in Bitcoin then it will prove to be a very good idea for you, because you must have heard this proverb that a river is made from a drop. So keep trying to get Bitcoin bit by bit. You will also find people who have less than you but they are satisfied with investment and you should also follow the same.

As far as selling Bitcoin, in my opinion you should hold Bitcoin. The price is low right now. This is not right time to sell Bitcoin, but rather to try and buy more Bitcoin if you can afford them. There are chances of the price going down further if you find Bitcoin at a lower price then you must take Bitcoin and store it for future.

RewFrew

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

After maintaining your basic need and maintain your family you can save money and that you can buy Bitcoin every month. Now Bitcoin price is very low you can But Bitcoin and store it for long time. I think it will give you best return from others investment. I also buy some bitcoin every month from my earning. And i am doind DCA. I think within this year Bitcoin price will hit New ATH.
So sitll i advice you for Buy Bitcoin every month and store it. It will give you big profit in future there has no doubt.

Obari

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Well I want to correct the impression that no one actually has enough of bitcoin to even think your post is funny more over there is a saying that, money never satisfies human desire.
Well I don't know how much you earn or how much of responsibilities are on you but I will advice that no matter how difficult it might seem, you sboukd atkeast try as much as possible to invest as much often as you can especially since you intend hodling for long term and if in to be specific, I will advise that you try to buy upto 10% of your monthly salary as there are greater possibilities of making profit and than loss since you intend hodling but I should also remind you that nothing is guaranteed in cryptocurrency due to its volatile nature which bitcoin isn't exempted.

If 10% of your monthly income isn't so much for you and you can afford those it, then investing in buying and hodling of bitcoin monthly wouldn't be a bad idea and you might recoup sooner than you ever expected.

RockBell

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Quote from: Distinctin on May 07, 2023, 04:39:48 PM

Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

snip

Never stop buying as long as the price is a good buy, and through DCA you can maximize your purchase with bitcoin without forcing yourself to buy them all in. However, the final decision is still up to you, if you think bitcoin will be more valuable in the future and will be more capable to make you profitable, then always take advantage of buying it today but only buy whenever you have spare money from your salary.

I love the part where you said don't force yourself to buy because some people feel they must invest in Bitcoin by force even if they are not financially stable. Instead of them focusing on how to feed themselves, they are thinking of investing in Bitcoin, which is not appropriate. That's the amazing aspect of it all once the price is down, is one good opportunity to buy as you said, and if you have already, you can top up the storage. Furthermore, I won't advise you to invest in Bitcoin if you have any obligations. before investing you should consider financial stability before buying and end up rushing to sell.

|MINER|

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

No problem of course you can invest, by managing a DCA in your profile you can upload as much as you can from salary and hold it regularly for long term. If you continue investing for the long term without stressing about the fluctuations in the price of Bitcoin, when Bitcoin touches its all-time high during a bull run or halving, you can convert profits according to your strategy. And at the end of the day these small investments will come out with big scope.

Awaklara

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Quote from: Patrol69 on May 08, 2023, 04:37:58 AM

You can divide your salary amount into several parts. One part you will spend on your family one part you will spend on other expenses and one part you will keep in your savings account and another part you will invest in bitcoins. I don't know your salary amount but if you can plan like this it will be good for you.

Investing in Bitcoin for the Long Term If you ever need money, you will spend that money from your savings account but never sell your Bitcoin investment. Holding this investment for a long period of time and increasing the investment amount every month will at some point see you reaping good returns on your investment.

there are still many who run investments the way you do. especially those who consistently aim to increase the number of assets consistently. and of course it has limitations from capital that is not large or even tends to be small. but those with large capital usually buy Bitcoin when they see an opportunity to buy with more.
many people are successful in Bitcoin investment, and they have their extraordinary way. but of course all investments and trades require good self-discipline in their management. otherwise they will never get the expected success.

Nrcewker

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If you are buying a worthy coin which has strong value, then definitely yes. If you are focusing on buying a coin which is limited amount in supply, suppose let’s say Bitcoins, then definitely you should accumulate as many coins as you can, as these coins will be very rare. A time will come, when the price will just sky rocket, all due to the increase in demand among the people to acquire more Bitcoins. Hence yes, it’s better to buy these coins whenever possible you can. The quantity doesn’t matter, just buy the quantity that fits in your budget.

irhact

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Quote from: inthelongrun on May 07, 2023, 04:21:52 PM

At this current bitcoin price of only $30k, there is no reason why I would stop my monthly DCA. My next plan is on the 11th, hopefully, the price will be down a little by then. The price of bitcoin is not even half of its previous ATH. I doubt bitcoin reaches $60k this year and so I guess my DCA will continue throughout the year or maybe even until next year.

DCA is the best strategy to use now since the market is very unstable, if you buy everything now you might regret when the opportunity to buy at a very lower price comes. If Bitcoin can't hold through this corrections then we might be going lower and my prediction will be Bitcoin could fall as low as $28k if the correction is worse, as I believe that's where the support is very strong.

We can't see $60k this year since we're still in the bear market. Maybe we can see that price during the halving year which is 2024 or in the bull market that'll be happening in 2025 if we're looking at history. We shouldn't be expecting a new all time high soon or we'll be disappointed as it won't be this year.

Patrol69

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You can divide your salary amount into several parts. One part you will spend on your family one part you will spend on other expenses and one part you will keep in your savings account and another part you will invest in bitcoins. I don't know your salary amount but if you can plan like this it will be good for you.

Investing in Bitcoin for the Long Term If you ever need money, you will spend that money from your savings account but never sell your Bitcoin investment. Holding this investment for a long period of time and increasing the investment amount every month will at some point see you reaping good returns on your investment.

yudi09

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

... -snip-
So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Don't force yourself to make an investment if your financial capacity is insufficient. Other responsibilities such as family is a top priority that must be met.
Forcing to invest beyond one's means is an act that does not need to be done and does not exist in the concept of investors.

Basically people who invest in Bitcoin in the long term are not all in a good situation. They only carry out the management of financial management that has been made.

In my opinion, people who invest in Bitcoin only do it on the basis of ability by implementing strategies such as the DCA method.
If you are able to set aside a small amount of your monthly salary to buy, think of it as future savings, then you will be the same as most other investors that you consider them to be in sufficient financial condition.

Inwestour

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Quote from: Dr.Bitcoin_Strange on May 07, 2023, 05:58:37 PM

It's not really a bad decision to buy Bitcoin now and store it, depending on the duration you choose to hold it for. Since you are working and want to invest in Bitcoin monthly, you can make a budget from your monthly earnings, and once you have some money left, you can invest in Bitcoin. But also don't forget that it's always necessary to keep some fiat so that, during some emergencies, you don't need to sell off your bitcoin so quickly. Sometimes emergencies do arise, and if selling your Bitcoin is the only option left, you might not really be in a good position to sell, and sometimes you may be selling at a loss.

Let's say you receive $400 every month for your salary, you can decide to invest $20–$50 into Bitcoin investment. Just do it in such a way that it doesn't affect you.

In this case, you should not rush to invest, if you can save only $ 50 per month, then the best solution is to accumulate a reserve in fiat so that it becomes your support in case of need and you would not have to think about what you have to sell bitcoin at a loss if you need money.

When there is enough money only for the most necessary things, then it is worth thinking not about investments, but about creating comfort and trying to increase your income, otherwise nothing will change. And when finances allow you to create a reserve, then you can think about further investments.

bitterguy28

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

That part, you must not find if funny but a chance in earning , let those Stupid people call you that because they will regret this soon.
and also , buying monthly is for me is a perfect strategy to forget about the specific price of buying instead just close your eyes and buy.
as long as you are willing to keep them holding for longer term?
go with it mate.

Sebas.tian

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I don't think, is advisable for traders to buy and store coins in this season because many coins are showing some signs of bullish in the market which before the end of this month bullish season will start for both long term traders and short term traders to start releasing their coins for sale. Since the price of Bitcoin has maintain the $29,000 in this month of may, I believe this is the time to hold strong and watch the market very well because bullish season is very close to those that invested in the past. And if the price of Bitcoin hit $30,000 any moment from now, many traders will start selling because that is the lowest the price will reach before potential traders will start trading their coins to make a good profits.

Mr.right85

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Quote from: inthelongrun on May 07, 2023, 04:21:52 PM

At this current bitcoin price of only $30k, there is no reason why I would stop my monthly DCA. My next plan is on the 11th, hopefully, the price will be down a little by then. The price of bitcoin is not even half of its previous ATH. I doubt bitcoin reaches $60k this year and so I guess my DCA will continue throughout the year or maybe even until next year.

One word I did pick though was the word 'hopefully'. That's the closest we could get to a prediction on the bitcoin market. The volatile nature of it is something you just can't get any close to predicting and as such, waiting on a time to buy would be an idea not to patronise if you ask me.

Using DCA to guide your investment would be a better option as, it pays less attention to the prevailing market condition but instead, you get to define your intent in respect to the duration behind all your buys.

What remains of the more importance is that, your portfolio keeps increasing and at the time, the ATH is not even half way through.

Dr.Bitcoin_Strange

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction.

It's not really a bad decision to buy Bitcoin now and store it, depending on the duration you choose to hold it for. Since you are working and want to invest in Bitcoin monthly, you can make a budget from your monthly earnings, and once you have some money left, you can invest in Bitcoin. But also don't forget that it's always necessary to keep some fiat so that, during some emergencies, you don't need to sell off your bitcoin so quickly. Sometimes emergencies do arise, and if selling your Bitcoin is the only option left, you might not really be in a good position to sell, and sometimes you may be selling at a loss.

Let's say you receive $400 every month for your salary, you can decide to invest $20–$50 into Bitcoin investment. Just do it in such a way that it doesn't affect you.

LUCKMCFLY

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When it comes to bitcoin and a peona who asks me for her advice, my respect will always be to tell her to buy bitcoin and save as much as you can, that every time you have it, do it so that you can keep saving, and why is this? because it is much easier to do it this way Because when the price of bitcoin grows you can obtain great benefits, that is what you are looking for, in fact I like when people do well, and they can have profits, and if I can do something for them to do well I don't Doubt it, whoever it is, that's why whoever can buy bitcoin and save who always does it.

Fivestar4everMVP

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Quote from: kawetsriyanto on May 07, 2023, 04:59:27 PM

Quote from: Lorence.xD on May 06, 2023, 08:39:07 PM

This is only a good method if you're aiming for long term, if you put your money that you'll be needing soon then it's not a good choice to buy BTC. Cause if you want to a quick flip that you could profit instant then buy and store is not recommendable.

You are right. Keep buying Bitcoin any time and never caring about the price are okay for long-term investment, but it is not an effective way for a shot term investment or trading. Not each person buys Bitcoin for a long-term holding, some people just buy Bitcoin for short holding or even trade Bitcoin weekly or monthly. Also, if we can analyze the right time to buy Bitcoin, why we must buy at any time? Not every time is a good time to buy, just buy whenever the Bitcoin price goes to the dip (low price). We must optimize the chance to earn higher profits, don't buy carelessly.

You are right, but then, how exactly does one know when the price of bitcoin is at its deepest deep?, this is an important question that I believe have no definite answer, simply because, the only time we can be sure that the price of bitcoin or any other crypto coin is at their deepest deep is when the price is at $0, which is realistically not possible for bitcoin, and any other major coin that is already being traded in the open market.

What I would say here is, just buy when ever you feel the price is OK for your, cus price of bitcoin is most of the time not stable, the price could be going down, and you wait for it to go down the more, only for it to start pumping up in the next minute, this has happened to me on several occasions I wanted to buy bitcoin but was looking for the bottom price.

kawetsriyanto

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Quote from: Lorence.xD on May 06, 2023, 08:39:07 PM

This is only a good method if you're aiming for long term, if you put your money that you'll be needing soon then it's not a good choice to buy BTC. Cause if you want to a quick flip that you could profit instant then buy and store is not recommendable.

You are right. Keep buying Bitcoin any time and never caring about the price are okay for long-term investment, but it is not an effective way for a shot term investment or trading. Not each person buys Bitcoin for a long-term holding, some people just buy Bitcoin for short holding or even trade Bitcoin weekly or monthly. Also, if we can analyze the right time to buy Bitcoin, why we must buy at any time? Not every time is a good time to buy, just buy whenever the Bitcoin price goes to the dip (low price). We must optimize the chance to earn higher profits, don't buy carelessly.

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