Topic: Hope is all I have left - page 2. (Read 950 times)

I don't know if op want to hold little amount of Bitcoin and waiting for the price to skyrocket so that a sat can cost up to a cent. I don't know when that time is going to come but It is definitely going to be possible especially when the price of Bitcoin reaches like $200k or more. There are many ways one can invest in Bitcoin that wouldn't need using big amount of money to buy Bitcoin once. The market is flexible and one can decide to be buying smaller units of Bitcoin and time goes and if this kind of investment continues, it is going to worth more than we can ever imagine.

The fact that you have plans of investing already is something to consider in the long run. We are just pressured of other investors but in reality, there's really no required amount to invest. If you have an ambition and have enough determination then you should leave 'hoping' and turn it to 'doing'. Investinf once in a while is better than just putting your money in the bank. You may engage to extra jobs and tasks which could give you additional resources to continue with what you are wanting to happen unless you'd just seek for an easy way such as to just hope for help, then expect a long period of time before such thing happens.

On the other hand, hoping for a huge dump as 1sat to 1cent won't be beneficial as well. Imagine how lonf will it take for recovery to happen. There are other options if you cannot affors what's in front of you, just look around.

DCA fit in to all level and conditions and dollar cost average is one of the easiest Bitcoin accumulation approach that have helped many investors to apply it to their individual condition by setting aside the amount at average to invest in bitcoin and having time frame for such period of FCA until their reach abilities.


This approach less the pressure on those who may not have enough liquidity founds to buy large portion of Bitcoin at a go,  I started the approach sometime ago setting a percentage pf my income on monthly basis to invest in bitcoin and so far so good it has help me a lot in discipline my financial spending by accumulating more Bitcoin instead of spending the cash in inflated items.
 

Dollar-costing bitcoin doesn't have to be very hard for you. One of the greatest things about this strategy is the fact that you can tailor-fit it to your needs and current state. If you couldn't do so much as to invest a dollar in regular intervals I'd say it's either too impossible since who doesn't got that extra dollar lying around that they can save until their next DCA interval? but that's a little harsh and not really sympathetic of what your true situation could really be, so let me just say that you might want to once again tailor-fit your DCA strat to whatever you can do. I kid you not when I say that even a dollar every month is something, since it still sets you up for success come the bull run season. It's all just about the proper mindset and the plan to pair it with. Don't lose hope and don't lose vision my friend.

How can this one make 1 satoshi to be 1 cent?  Doubling profit is easier said than done.  If you aim to double your profit then you have to trade.  Trading will make you go out of your comfort by just holding Bitcoin since you have to buy and sell Bitcoin and has risk especially when the one doing it has less experience.




So it is obvious that the person needs to engage in trading.  Why not tell it directly and say to take advantage of the volatility of the market and buy and sell to increase his holdings?

Well, many of us can yes, it's possible and all that, but the truth is that, no body really knows, most especially right now that the whole crypto space is full regulatory uncertainties.

For 1 sat of Bitcoin to worth 1 cent, which is $0.01 , 1 whole bitcoin will have to worth around $300,000 to $1,000, 000 , currently at $25,100, 1 Bitcoin sat is worth around $0.00025 cents ..

There is hope indeed for Bitcoin to worth such price, but no one knows when it will happen, might take 5 years , another 10 years , or maybe 20 years from now, are you ready to hold until that target is achieved?

I think you should rather focus on building a business that will change your financial situation to the better, instead of entirely depending on Bitcoin.

First, make sure you can double your first investment. Once you achieve that, then focus on doubling the profit you got from the previous investment with the actual amount too. I don't wanna guess the amount that you put into investment but in order to explain let me pick a number.

Let's say you put $50 into your first investment. Try to make that $50 into $100. Work till you make that happen. Then with the $100 make a target to turn that into $200. This way, even if your investment is a low amount, you can work your way through this and turn that small amount into a huge profit. As the market will turn bullish again, this could be a great opportunity to do it. Set a target and never get affected by your emotions. Such as fear or greed. Set a target in order to double your investment and then sell or HODL till it is reached.

If you follow this, you may have to take some risks but in the long run, it is really worth it.

The idea was shared by Little Mouse in our local thread. Thanks to him.

Source: $১০০ ডলারকে $১.৬ মিলিয়ন ডলারে পরিণত করার মিশন

Spread your money around and put some of it into crypto, that's a good plan! Loans to put money into something as risky as Bitcoin? That's a two-edged sword, and you're smart to stay away from it. Interest rates could cut into your income, and if the market goes bad, you're still stuck with the debt. Definitely not. By having different ways to make money, you're basically giving yourself a safety net. So, when you buy in Bitcoin, you can take on a bit more risk. And thanks for pointing out how important it is to have different sources of income if you want to be able to invest more. That needs to be said

Yeah with the existence of other sources of income this can increase the investment allocation in bitcoin if you rely on one income then it will cover its needs only while for investment it will not be able to even be able to only a small allocation.
But this advice is good, for people who invest more they have a large source of income from many professions that are done as long as they are able and the results will increase your wealth as well as in your investment.

No, loans to banks only make things worse and with the interest that must be paid, it is better to avoid any loans if you want to invest in bitcoin.

You shouldn't be ashamed of anything or anyone, the fact that you are willing to change your situation is already a first, very important, step! If you could invest each month instead of two (I mean always the same amount of money as you're doing now, so instead of doing 10 each 2 months you can do 5 each month) you could have a better average price because in 2 months many things can happen.

Regarding your question who knows, it could happen that 1 satoshi = 1 cent, but in that case I think the inflation would play a major role.

I think building a steady means of income should the first thing to even think of because investing in bitcoin is not a get rich scheme and it doesn't guarantee you to even be reach. Bitcoin I think was created by satoshi to eradicate the case of third party involvement when it comes to the finance of every individual and it was because of its volatility and ability as a store of value that made many people now choose to use it as an investment means. If you are investing in bitcoin and don't have steady income then you might probably end up tempering with your hodling just to tackle some emergency problem that you may encounter.

Indeed, everyone wants to buy low prices to have a chance to receive higher profits, but the problem is that we will not know when bitcoin will decrease and increase. Just like now, I want to ask @Kakmakr, is this the right time for you to buy bitcoin or will you wait for it to drop further to buy? And are you sure it will happen as you predicted?
DCA is still the best method to accumulate bitcoins. Depending on each person's economic conditions, we have a plan to accumulate bitcoin that suits us. Accumulate daily, weekly, monthly...everything is fine as long as it fits our budget.

Maybe OP never get to understand this that bitcoin was being introduced as a major targets on the masses, the poor in other to render them equal financial opportunities, that's why you can start with any amount no matter how small it is, exchange begin with $10 while personally you can owe something lesser than that to begin with, this alone is another hope to leverage on because bitcoin is for everyone, no matter how you appear you can still finds a place to get fit in with bitcoin adoption and have your financial economy achieved as desired.

It's really hard to predict Bitcoin's market since everyday there's people buying and selling plus at the same time the events such as economically, politically or international. DCA actually gives you the peace of mind by just having a fixed amount and schedule to buy BTC without a hassle of checking and analyzing the market. Timing when to enter the market is actually good if that's your technique and suitability cause some people doesn't have the time to check the market all time so they would just simply invest at the end of the time. I think this would only applicable to people who does have a lot of time, cause work plus crypto might be draining but investment is a must. Cause I actually do both when I have free time and spare money I would choose this but most of the time its DCAing.

I think what matters most is, are you progressing with your bitcoin investment? If yes, I don't think you have much to worry about the Bitcoin price; all you need to do is concentrate on what you want to achieve, and I believe you are already on the right track, so you're trying to continue buying ones in two months, and if you can continue with that, you will be so grateful one day with the amount of Bitcoin you may have in your wallet, even if it is not up to 1 BTC, because what I think matters is the value of Bitcoin. Just imagine, for example, that you have accumulated $500 worth of Bitcoin, and when the price of Bitcoin continues increasing in a few years, you see your wallet reading $3,000. Is what you need from Bitcoin.
 
As for me, the reason why I invested in bitcoin is because of profits, and I believe other people do too, and that is my reason. My wish for bitcoin is always seeing the price increase, not the price coming down, because I cawant hold some number of bitcoins. What always matters to me is seeing the value of bitcoin increase because if it doesn't, holding a number of bitcoins will mean nothing. Know that you are not going to be valued based on the number of Bitcoin you holding but the amount Bitcoin value.
 

For that, a whole Bitcoin has to be worth a million dollars. We are still far from a 100K but I believe we may cross the 100K milestone in the next bull run. But I cannot imagine how long it will take for Bitcoin to hit the million-dollar milestone. Is it even possible? Maybe, or maybe not. If bitcoin usage and demand increase in the next coming years, of course the price will increase. But we don't know how much it will be. Personally I don't think it will be a million dollar in the next five or eight years. If Bitcoin survives for the next one or two decades, then we might see one million dollars milestone.

Well that's exactly right, everything moves from the smallest first until then you can master or have the maximum capacity in whatever it is. as you said and rightly I think indeed the amount does not really matter in investing in bitcoim, I will not force you to spend all your money or even to sell some of your valuables to invest, remember there is no compulsion at all, it depends on your ability. It's just like "there would be no successful ending if there was no painful beginning", more or less like that. So just keep doing what you can and stick to your best plans, others will barely care about you if you don't show them anything at all like maybe bragging like you said.

Well right this makes more sense, I think it's natural for someone to want to be like someone else who has a large amount of investment, yes it doesn't matter because everyone must have their own dreams. But I see they are very inspired by people who have large amounts but they can't see the situation they are in, as you said everyone's income must be different, some are from the middle to upper class and also even very low to the cost of food alone they are still very worried about thinking about it. Yes, I understand that with a small amount, the profit is also equivalent to the capital you bring, but on the other hand you also have to know how your financial condition is.
And in my opinion the only way maybe you can be more active to work or look for additional money from various ways that you can to then be allocated to bitcoin, you can do it gradually and consistently, as you said and indeed only this is the best solution than you borrow to the bank and then get into debt.

Of course, there's an opportunity for everyone to invest in Bitcoin. It doesn't matter how much you're investing, provided you've a target you're chasing. There's nothing to be ashamed of. After all, a journey of a thousand miles begins with a step. Nobody is measuring anything and checking your investment except you're one of those who like to brag of what investment they've.

Yeah, we all know this would be a better option than DCA. However, this can only be effectively utilized by those who know how to appropriately read market moves through fundamental and technical analyses. We more often find this class of people among traders than investors. So, it's not that easy to wait for right entries.

I agree with you. As much as we all want to be the same as others when it comes to having big investments, it cannot be possible as we have different situations. Some of us have bigger source of income than others and some have multiple investments to cater to so their Bitcoin investment isn't as big. The small investment may take slow to build a profit but that doesn't mean that all OP can do is hope for the best, there is the option to find other sources of income like a side hustle to have a bigger capital for Bitcoin investment.

Market timing can be advantageous, you're right. Market timing hazards are widely highlighted in history and academic studies. The theory sounds fantastic, but can you always foresee market lows and highs? Most likely no. Experts suffer too. Transaction fees and taxes must be considered.

Two key assumptions underpin your strategy: purchase low and sell high. The Bitcoin market is affected by many factors, including global politics, legislation, and market emotion. Sorry to be a downer, but Im being skeptical.

Your method could work but also fail, costing you more than your fees. Make sure you're ready for Bitcoin's volatility. However, everyone has different risk tolerance and investment approach, so what works for you may not work for others.