Now we can have full confidence in Bitcoin but Bitcoin is very expensive due to which it is not possible to buy a good amount of Bitcoin even if we want to.
Those investors who hold from bitcoin <$100 had confidence in it since then and that made them rich today, not all had the confidence to continue the journey , it dipped massively at some points and some investors sold all of their holding while some sold large percentage for sure but it'stheir investment, they might not have regrets since they made profits but they couldhave made more though, if they had not lose trust/confidence in it..
Hence, it can still be cheap at the moment compare to when you start seeing it @500k .. true it's still expensive to accumulate good amount as at the current price but accumulating it continously can give you a better amount over time(what matters is that you're willing to hold for long) and how can you do that?? It's simple just practice what the thread is all about along with the DCA strategy, accumulate for cycles and check your portfolio (you will see how far you've come)
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Actually confidence is a tool while many failed and some too with hood confidence overcome the force of selling off their holding, but there is one aspect I do consider while most holders sell off their Bitcoin the area of unforseen circumstances and loss of target over speculated period of time, some holder have some speculation while they hold that certain period what they are holding should be at a certain price and when the reverse become the case and their alternative failed them they are left with no option than to sell what they have. Though it's very wrong shall but to say when the need is not available the available become the need could be their situation at that point because some is not as a result of clear eye but been instigated by unknown factor beyond some emergency fund mostly life threatening issued.
This is why as a long term bitcoin investor that's just coming in to the bitcoin accumulation game, you need to set up an emergency funds to be a back up to your bitcoin investment to take care of unforeseen circumstances along your way up. Such funds is only used to take care of real emergencies when they arises so that you don't end up selling part of your bitcoin at loss, if the price of bitcoin is below your entry point.
A brand new investor without an emergency funds can set it up immediately he starts his bitcoin investment. After figuring out how much is your discretionary income, you can share it into two and use one part to start investing in bitcoin through regular DCA weekly and use the other part to be building your emergency funds simultaneously with your bitcoin investment. You build your emergency funds until it gets to at least three months of your monthly income.
However, there are various back up funds, if you have built your emergency funds, you can go ahead to build your reserve funds as back up funds.
Our investment or portfolio will really be composed of in between long term coins and to those which are good for short term.
We are not talking about short-term shitcoins that are useless to put money in because that's gambling but only bitcoin that can be invested in for a long time for the future. Don't mislead the newbies who are reading this thread.