How can I start investing in Bitcoin? - page 6.

Nerdy doctor

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Why wait till January of 2024 and not now? Just curious. Perhaps that’s when you’ll get enough money saved up to invest. I don’t know if you’ve noticed but the price of bitcoin is steadily on the increase. Yes, the price still fluctuates and drops but despite that, it’s bound to increase.

The price over the months climbed and it’s over $41k now. Despite fluctuations, I don’t think it could go below $40k. By January of 2024, one bitcoin could possibly be over $45k and then, you would have to spend more to invest in bitcoin. If you’ve got the money, better today than next year.
Good to see you’re going with bitcoin instead of any of the several alt coin out there.

PrivacyG

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If you ask me or any Bitcoiner here. What do you expect? Do you expect any of us to say it is a bad idea to invest in Bitcoin?

My personal opinion. It is ALWAYS a good time to start investing or to Dollar Cost Average Bitcoin. You can never go wrong. But it means you first need to believe in Bitcoin. And you need to understand the risk it takes.

I would not care if Bitcoin drops to 10 thousand. Or even 2. Many others do however. If you do not believe in what you are doing, go and do something you believe in. Otherwise you end up purchasing Bitcoin before price tops out and then you sell on a loss and cry.

Invested money is money you should consider nonexistent anyway. If you consider that money, you will suffer every time the Market is not all rainbows and sun.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

This is a wonderful question, Bitcoin is unlimited in times of taken in new investor, so for you to invest in bitcoin is never too late, but know that the investment is all about risk which means invest what you can afford to lose, invest in bitcoin doesn’t mean you will have huge amount of money before you can do it, you can be buying it with little amount you can afford and continuously gradually it will accumulate to huge one, know that the more you invest the more you gain and also know the lesser you invest the lesser you lose, and again know that the investment is a long term investment so don't include your daily expenses in the investment separate them to avoid problems.

Bureau

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Investing in Bitcoin requires a long-term commitment to achieve the goal of financial independence. If you are ready then start investing from today with an amount that you can afford to lose or leave. I said lose because every investment comes with a risk and so is Bitcoin investment. You can have a situation when the price of Bitcoin can go down, which happened in 2021. Prepare yourself to take the risk and do not be afraid of short-term fall as investing in Bitcoin take a lot of patience and a vision of making big in the long run.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

It is better to invest in bitcoins, but do it with your outside savings and not with your home money or borrowed money. As the year 2024 is still few days left so if you are taking initiative to invest then your initiative may be good or bad. For this you have to maintain everything and then invest. If you invest, you must accept that you will face losses many times. It will be better for you if you plan long term for investment because short term investment will never make your profit, but you will face loss more. So if you are thinking of long term investment, then I would say 2024 is not the year you can buy and hold bitcoins from anywhere that will give you maximum profit.

sulendra12

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

You can pretty much invest anytime you want, but even though I say it like that it doesn't mean you can just go there randomly without any some sort of preparation. Do it with the money you can afford to lose, because it's an investment then you have to do anything to make sure that you are not just jumping in without doing anything.

The most common and popular one is DCA and it works for most of the people, you can try to search that on your web browser and see if it fits your current style.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

The best time to invest is before the bull run. It can be assumed that we have not yet entered the bull run but the anticipation of that event is already making the market bullish. But is not too late to start because the price of Bitcoin will keep rising in the future. The advice I will give to you will be based on your financial status currently and how long you intend to keep your investment.

If you have small funds, I suggest you adopt DCA which is investing small and equal amounts consistently. DCA strategy will be the best option for a newbie because you will be able to learn with little funds. Investing lump some will be okay if you have a large some, but it will be more convenient if you know about securing your funds. The bottom is that you don't have to rely on the information you get from anywhere, do your research to verify them before you make your decision.

rodskee

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Answer this first ..

1. Do you have money to Invest now? if does then why need to wait for January
when it is still cheap buying now.

2. Are you ready to face the consequences ? if yes then Invest now mate , to
see what comes to you in the next Bullrun.

3. Do you Understand Crypto/Bitcoin that good? if Not then forget your plans
and study first

CODE200

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Quote from: _act_ on December 12, 2023, 04:51:27 AM

If you can begin to invest in bitcoin now, before 2024, it would be good. If you want to wait until the beginning of 2024 to start investing in bitcoin, it is not still too late.

Next year will be full of the bulls. Bitcoin will get to all-time-high. Bitcoin may reach six digits.

Starting to invest in the new year isn't that bad of an idea, January is a bad month for cryptocurrency market as a whole so OP might be onto something here. Now we don't know when will that all-time-high will happen and I don't think it's even going to happen real soon because the halving hasn't happened yet and we haven't seen any significant sign that the peak is going to happen, so it's still a good time to buy at the early months of the New Year but you're right too, just start investing now but we can't blame OP because he/she might have no money yet so they can't do it yet.

If you want to start investing next year OP, you better start learning the some stuff about crypto and find the exchange and wallet that fits you. I recommend learning about Metamask, Binance, KuCoin, TrustWallet and BlueWallet. One thing about exchanges though is that if you choose to store your bitcoins there, you have to remember that it's not your bitcoin anymore because they're custodial wallets, basically you trust the exchange to store your bitcoins and crypto in their exchange.

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Knowledge about bitcoin today is not too difficult to find, I think you can find the forum and register an account here, so you can also find documents about bitcoin easily. Why don't you figure things out yourself before asking for help? I mean, I think it's better for us to do things ourselves than to expect someone to help us.

Investing in bitcoin is a long-term journey, not a place to make quick or short-term money. You should take the time to learn, research and have a long-term plan instead of intending to invest before January 2024. What does that mean?

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Because market price movements are difficult for us to predict. So it's also difficult to say whether it's too late or not. So it's better to do your own research. But for me personally, maybe if you look at the long-term potential, buying now is not too late. But I don't know at the beginning of 2024. Whether the price will be very high or not at that time. But if it turns out that there is a correction in early 2024 then it might be the right time to enter and start accumulation. But I think a deep correction will be quite difficult to happen. Because there are many big agendas for 2024. Especially regarding the Bitcoin ETF which has been hotly discussed for a long time. And at the beginning of 2024 there is a schedule for this which can usually make prices rise further. But I'm also not a person who is good at analyzing. But regarding bitcoin I just accumulate and hold it for the long term.

So I think it would still be good if he started by doing his own research.

2Pizza410000BTC

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

You can invest Bitcoin from any time it is completely your personal matter. But if you are thinking to invest in bitcoin from now then it will be good for you because in early 2024 fake bitcoin ETF approved bitcoin price will go up a lot. Moreover, Bitcoin will be halved in 2024, so it is definitely said that Bitcoin will increase in price in 2024. So it will be better for you to start from now if you have enough money to invest.

MusaMohamed

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

You can start your investment anytime but some reminders to remember.

Use your own money for investment because it will help you having better psychology in this volatile and uncertain market.
Don't invest if you can not afford losing your money.
Don't use any leverage for investment because with leverage, you will have risk of liquidation.
Invest in Bitcoin, forget about altcoins that will cause loss for your portfolio.

Invest with DCA strategy and with Bitcoin.
https://dcabtc.com/

vitya1982

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It's never too late, but you should do your own research and be prepared for a long-term holding, for all big pumps and dumps that will come at some point.

leonair

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Quote from: hazelkeane on December 12, 2023, 04:47:48 AM

Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Investing in cryptocurrencies is very risky, but you can invite good morning to bitcoins with much less risk. The first thing you need to accept when investing in Bitcoin is that you must have a long-term investment mindset and you must have enough patience. On the other hand you can follow DCA to further reduce your risk as you will buy bitcoins at different prices as you will not invest at one time and your chances of losing will be reduced. I think these are enough to invest in Bitcoin

_act_

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If you can begin to invest in bitcoin now, before 2024, it would be good. If you want to wait until the beginning of 2024 to start investing in bitcoin, it is not still too late.

Next year will be full of the bulls. Bitcoin will get to all-time-high. Bitcoin may reach six digits.

hazelkeane

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Can someone please guide is it a good practice to start investing in Bitcoin in this upcoming January-2024?

Topic: How can I start investing in Bitcoin? - page 6. (Read 801 times)