I have resolved into buying more and caring less - page 2.

wxa7115

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Quote from: tjtonmoy on February 01, 2023, 01:46:47 PM

So you are basically talking about DCA right? It's a great way to keep your assets at the same value despite the market condition. I like it, but instead of also buying in the uptrend, you can wait for the market to go down again and buy at low price. And HODLing is a great way of investment for future. But if you are willing to make profit in the present, you have to take the right decision of not always buying. Sell at high, buy at low. I think this should be the strategy.

The idea behind DCA is to buy bitcoin at regular intervals regardless of the price at the time, if an investor begins to worry about it and prefers to wait until there is a downtrend to buy it then it is better for them to become traders instead.

As a matter of fact this is what makes DCA difficult to implement, this is a strategy that would be very easy for a bot to implement, but for a human this is difficult as there is always a natural desire for things to go our way, and this makes buying during an uptrend difficult as we cannot stop thinking about the recent past when we could buy bitcoin for a lower price and wish we could buy even more bitcoin at that price.

odunybiz

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Quote from: JoyMarsha on January 29, 2023, 07:18:09 PM

Regardless of whether the price is high or low, starting small investments in bitcoin is a sensible move because the idea is to hodl and avoid missing out on the bitcoin ATH. Nevertheless, we anticipate seeing an all-time high for bitcoin around the time of the halving season in 2024. But it's a good idea to begin thinking in terms of planning ahead. Your small bitcoin investment from now might end up being worth a lot more in the future. Just take your time and be patient.

It's high time one should start accumulate Bitcoin towards the next bullrun. Waiting till the lowest low may make you miss out as no one can predict the lowest low of any coin/token. It's better one keep buying gradually and hodl for good profit in future.

erep

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Quote from: tjtonmoy on February 01, 2023, 01:46:47 PM

So you are basically talking about DCA right? It's a great way to keep your assets at the same value despite the market condition. I like it, but instead of also buying in the uptrend, you can wait for the market to go down again and buy at low price. And HODLing is a great way of investment for future. But if you are willing to make profit in the present, you have to take the right decision of not always buying. Sell at high, buy at low. I think this should be the strategy.

Exactly, we must prioritize the DCA strategy in investing and not be affected by market movements from the recent recovery, make sure we keep buying at low prices even if we have to wait for the market to fall, so we must focus on the decision to buy low to increase portfolio assets for the long term Also, don't involve investing in bad altcoins because there is no guarantee that the altcoin price will recover and keep increasing the BTC assets in the portfolio.

tjtonmoy

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So you are basically talking about DCA right? It's a great way to keep your assets at the same value despite the market condition. I like it, but instead of also buying in the uptrend, you can wait for the market to go down again and buy at low price. And HODLing is a great way of investment for future. But if you are willing to make profit in the present, you have to take the right decision of not always buying. Sell at high, buy at low. I think this should be the strategy.

Wong Gendheng

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Quote from: Zilon on January 29, 2023, 10:48:35 AM

Everyone has drawn their resolution for the year as regard Bitcoin investment and more. Bitcoin is bound to do what it wants to do. And no matter where the direction of the market has chosen to point to, i will just buy until when i feel it has gone too high to keep buying.

I am longer paying attention to all the noise that comes with short term investment anymore. It is better to be in red on a short term than to lose out on big opportunities on a long term. If the market is selling at a low price i will buy, If it is buying at an uptrend i will still buy. The only difference is i will try not to buy too high because in all the buying profit is the target. The goal is not to get rich but to catch up with the next trend and ATH.

The fact is on a long run the market will do what it wants to do and not even the best analysis can change it from making its desired moves. Bitcoin long term prediction is becoming even more harder to make as external forces keep playing out in the market more often. Staying positive for long term goal has given so many good profit in time past and it won't be out of place if similar occurrence happens again on the long run

What do you think!!!

I think this is a good thing and worth we imitate, I also plan to continue to buy before the price skyrocketed, in January the price of bitcoin rose more than 35% and made me surprised and regret for selling cheap when the FTX case occurred at the end of 2022, now I'm sure That the future of Bitcoin will be even brilliant.

Pejoh Asu

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As investors we must have a sense of optimism, bitcoin has a unique trend that is when the previous year dropped then the best thing is to keep buying, if we are patient and hold bitcoin for at least 2 years then I'm sure we can profit more than 100%, or 50% per year, even many investors are patient to hold long term and I often hear their success story when in 2016 buy for under $400 and can sell for $16k in 2017 or earn more than 4000% profit within 2 years.

Kakmakr

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OP, you should actually just make a small shift in your strategy.... because compulsive buying might not be the best approach. In the beginning I also did that... buying whenever I receive new disposable Fiat income... but I realized that "timing" is everything, when it comes to trading and making good profits.

Now, I gather Fiat income and I hoard it, until I see a large drop in the price.... then I buy a lot more coins for a much lower price. I also have a secondary strategy, where I buy bitcoins for my every day expenses... so that I pay with Bitcoin and not with Fiat ..for the things that can be paid with Bitcoin. (Example : Some local food stalls accept Bitcoin payment, so I convert my food budget to Bitcoin and I pay with Bitcoin for that) Wink

Cryptomultiplier

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I have always been in support of a courageous move, mostly when it concern ones financial decisions. This is you deciding on the best course of action of investment. Perhaps you tried short-term investment and didn't like the outcome, now you intend to go long term, if I am correct.
I would advise you go all in and give it your best shot. It is not going to be as easy as it sounds because you'll be sacrificing alot; a percentage of your income to buy these Bitcoins, your lifestyle will have to be adjusted to meetup with this investment, and from my perspective I don't think you have a family, but incase you do, your partner has to consent to this idea.
It really doesn't matter if Bitcoin is $23k right now, a good DCA strategy would require a constant percentage of purchase on regular basis for the duration you choose. Luck might be on your side if at a certain point the price drops and you still buy with the percentage you have stucked with so far.
Patience pays and discipline in the run.

bitgolden

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Quote from: michellee on January 31, 2023, 09:59:24 AM

Quote from: 19Nov16 on January 31, 2023, 03:52:36 AM

The trend of bitcoin in the future will be difficult to predict and the estimate of many experts is that it will be more expensive, the right decision to buy more bitcoins rather than just waiting or hoping for a lower price to buy, if our focus is long term I'm sure it will be profitable, most people buy and losers are hoping for instant profits so it's easy to panic when prices drop.

That's what people who have money are already doing and believe that bitcoin will become more expensive. And it's like they don't want to miss the train to buy more bitcoins because once the price goes up and they can even create new ATH, they will get huge profits that they may never have imagined. If those people knew that someone was still holding their bitcoins and didn't sell them at ATH yesterday because they did not see the price reach their target price, they would be amazed because it would never be easy for them.

I think the whales buying more is definitely something that will benefit us in the long term. It's not something guaranteed because we do not know if they will end up buying more, but we know that there are whales out there waiting to buy billions of dollars worth of bitcoin and that's a great thing. I know people will not be very happy about the fact that it hasn't happened so far, and they want to see it happen quicker, but that's the situation we are in right now.

I am quite happy about the fact that it's at least possible and should continue to be possible for a while longer. The only greater thing would be happening right now, and that's what people want, but it's fine if it doesn't come right away.

kryptqnick

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If you can afford to buy, and you have a goal of what to do with the profits you'll make, as well as a sense of how much will be enough, then I see no reason not to go for it. It's true that one can miss out a bit from short-term perspective (for example, by buying now at $23k and then feeling sad if the price is back to $17k), but as long as one believes that Bitcoin will fully recover and reach a new ATH in the future, it's still a good price to invest. After all, it's still 3x profit return on investment if Bitcoin reaches the previous ATH, and more if it, as always before, goes even higher.

dezoel

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I guarantee you that this will end up having a better life. At this current stage of the world, unless you are getting into a business where you could make millions, people with regular careers will not be able to buy a house, or at least not in my nation.

There is basically ZERO chance a kid in his twenties could buy a house, or even a car at this point but maybe that could be possible if they work really hard. Which means, why even work towards saving and trying to be rich? Makes no sense to me. So instead, just do whatever you want to do, buy whatever you want to buy and try to have a happy life. If you rob yourself from living just to make sure your future is better, if that future is not better, there is no reversal.

Coin Gorilla

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Quote from: Zilon on January 29, 2023, 10:48:35 AM

I am longer paying attention to all the noise that comes with short term investment anymore. It is better to be in red on a short term than to lose out on big opportunities on a long term. If the market is selling at a low price i will buy, If it is buying at an uptrend i will still buy. The only difference is i will try not to buy too high because in all the buying profit is the target. The goal is not to get rich but to catch up with the next trend and ATH.

Good for you! Eventually, we all go through something like this, and the end result is, well, this. Taking it easy and getting overwhelmed by it. If you're not making a living out of it (e.g. short terms), you don't need overstress it.

AbuBhakar

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🇵🇭

Quote from: cydrix on January 31, 2023, 11:51:59 AM

Yes, investing in Bitcoin or any other asset should be done with caution and with a long-term perspective. It's important to have a diversified portfolio and to not put all your eggs in one basket. Having an emergency fund separate from your investment portfolio is advisable, so that you don't have to sell your assets during market downturns or when you face unexpected financial obligations. Additionally, it's important to educate yourself about the market and to keep an eye on the economic and political developments that may impact the value of your investments.

When it comes in crypto we need to monitor it throughly especially in altcoins, but if its bitcoin then its fine to just hold it. I have learn to buy more when it comes in stock market during pandemic since there is really a chance that they will recover, but about some altcoins that loses value during pandemic it seems to have no update up to this time and some already considered as scam project. We can buy more as long as we know where we put our money and we studied it. And as long as we still have emergency funds that we can use so there is no need to withdraw our investment when the market is not doing well.

Doan9269

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I will have to say this that you must consider the two in place, buying of digital asset and care about securing it for your profitability, those that buys and makes profits aren't just buying by dumping, they read to study the way and patterns needed before they take a step at a time, because every potential buyer has the intention of making profits and therefore gives more attention to the current ongoings from the market price to know when to continue to hodl or sell.

cydrix

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Yes, investing in Bitcoin or any other asset should be done with caution and with a long-term perspective. It's important to have a diversified portfolio and to not put all your eggs in one basket. Having an emergency fund separate from your investment portfolio is advisable, so that you don't have to sell your assets during market downturns or when you face unexpected financial obligations. Additionally, it's important to educate yourself about the market and to keep an eye on the economic and political developments that may impact the value of your investments.

Davian144

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Quote from: 19Nov16 on January 31, 2023, 03:52:36 AM

The trend of bitcoin in the future will be difficult to predict and the estimate of many experts is that it will be more expensive, the right decision to buy more bitcoins rather than just waiting or hoping for a lower price to buy, if our focus is long term I'm sure it will be profitable, most people buy and losers are hoping for instant profits so it's easy to panic when prices drop.

Some experts only tell to make a long term investment in Bitcoin after buying it at the low price it is now. Indeed, this is absolutely not wrong because until now I still firmly believe that the future of Bitcoin still has very good potential because more and more people are liking Bitcoin and also the crypto space. So it will be a very appropriate step if there are more people who want to buy Bitcoin at this time and invest for the long term through Bitcoin.

Ucy

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Well, if your aim is profit, your method will be less profitable and riskier than someone who buys & sell at the right time. Combine that with the ability to properly predict the market and move it to any direction you want, profit will be unbelievably high. I will choose the method that gives me better profit with risk that is next to nothing.
Your method not sustainable by the way

michellee

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Quote from: 19Nov16 on January 31, 2023, 03:52:36 AM

The trend of bitcoin in the future will be difficult to predict and the estimate of many experts is that it will be more expensive, the right decision to buy more bitcoins rather than just waiting or hoping for a lower price to buy, if our focus is long term I'm sure it will be profitable, most people buy and losers are hoping for instant profits so it's easy to panic when prices drop.

That's what people who have money are already doing and believe that bitcoin will become more expensive. And it's like they don't want to miss the train to buy more bitcoins because once the price goes up and they can even create new ATH, they will get huge profits that they may never have imagined. If those people knew that someone was still holding their bitcoins and didn't sell them at ATH yesterday because they did not see the price reach their target price, they would be amazed because it would never be easy for them.

TheUltraElite

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As long as you manage to buy at every down trend you are the one who will be in profit in every up trend. But you also need to sell at the top to get the fiat back and then use that to buy back and thus cycle the money. Make sure you dont end up in that herd who only buys at every low and then runs out of cash to buy more. Moreover if you show your family members that you are doing this cycling and thus making money, they will get enthusiastic about bitcoin and might support you more during the dull/bear times which is an important mental cushion.

It is a good thing to care less about the news and treat these as just some numbers. But keep track of news because they might have more info about what trends can come in but dont let them guide your investment.

Joshapat

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Quote from: Zilon on January 29, 2023, 10:48:35 AM

Everyone has drawn their resolution for the year as regard Bitcoin investment and more. Bitcoin is bound to do what it wants to do. And no matter where the direction of the market has chosen to point to, i will just buy until when i feel it has gone too high to keep buying.

I am longer paying attention to all the noise that comes with short term investment anymore. It is better to be in red on a short term than to lose out on big opportunities on a long term. If the market is selling at a low price i will buy, If it is buying at an uptrend i will still buy. The only difference is i will try not to buy too high because in all the buying profit is the target. The goal is not to get rich but to catch up with the next trend and ATH.

The fact is on a long run the market will do what it wants to do and not even the best analysis can change it from making its desired moves. Bitcoin long term prediction is becoming even more harder to make as external forces keep playing out in the market more often. Staying positive for long term goal has given so many good profit in time past and it won't be out of place if similar occurrence happens again on the long run

What do you think!!!

I believe this is the best decision to make our money grow, don't look at the price too often every day, if we focus on long-term hold or at least 3 years then we have the opportunity to get big profits, the 4 year trend is that the price will skyrocket to at least 200 %, and this is a very large increase compared to other types of investment.

Topic: I have resolved into buying more and caring less - page 2. (Read 661 times)