percentage of your income you dollar cost average in bitcoin - page 3.

Inwestour

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Quote from: _act_ on September 14, 2023, 02:29:10 PM

Bitcoin resistance has been around $30000. I will not expect more price increase for now after that price has been reached again. I prefer to DCA but not all on DCA because I am waiting for a day bitcoin may get to $20000. For people that are short term holders, buying around $30000 is not advisable, it is only advisable for long term holders to buy around that price or below.

Of course, you can expect the price to drop to 20k, but if this does not happen and after a small correction the price of Bitcoin begins to rise again, then you may never buy Bitcoin at 20k again.

Everyone must develop a strategy for themselves that will work for them, but in any case, you must have an action plan for all possible scenarios, so that you know what you will do if the price falls, or if it continues to rise right now, when everything is thought out all - remains is to act, in which case there will be much less room for mistakes than when we need to make a decision in a stressful situation.

xSkylarx

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Quote from: Sim_card on September 15, 2023, 06:48:04 AM

I use only 10% of my income to DCA monthly. This is because that is the amount that I can afford to lose, and with this amount, I wouldn't feel like spending anything out from my income and it will make me be consistent with my DCA strategy. If the market goes up and down, this wouldn't be my concern since I intend holding for a long period before selling. I could remember, earlier when I used 30% to DCA regularly, this was making me not balanced with my emergency expenses and I even went back to sell part of my bitcoin. This was why I had to reduce it to 10%.

Others strategy is to have an investment first then the needs but this is only applicable if the remaining money is enough for us. If we are only earning the minimum it is difficult to go up until 30%. Even I do below 10% because there are times that I really need that money and I struggle to budget my money for our needs. It is better to prioritize our needs first before spending on investment because we will struggle like you have experience.

All of us have different percentages, but as long as we can afford it and it does not affect our budget for needs then it is good. Just remember don't compare the percentage that you can only invest because all of us are in different salary ranges. For sure in the future if you earn more you can invest more.

Sim_card

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I use only 10% of my income to DCA monthly. This is because that is the amount that I can afford to lose, and with this amount, I wouldn't feel like spending anything out from my income and it will make me be consistent with my DCA strategy. If the market goes up and down, this wouldn't be my concern since I intend holding for a long period before selling. I could remember, earlier when I used 30% to DCA regularly, this was making me not balanced with my emergency expenses and I even went back to sell part of my bitcoin. This was why I had to reduce it to 10%.

Zlantann

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Quote from: cafter on September 13, 2023, 07:33:26 AM

Quote from: Jawhead999 on September 13, 2023, 07:24:29 AM

snip

i also now living with my parents, and have no interest in buying luxury things, going to trips, partying with friends, etc. so i can save my 100%(which is not huge in india the salary is like $150/month) of the income, thinking to invest all of it in bitcoin by DCA strategy.
my strategy is to invest 100% of the income in 30days which is buying 1 time in 5 days.
is it a good strategy? buying more frequently gives us more average entry point.

You are fortunate that you got the knowledge of investing your money at an early age. Sometimes I regret the kind of life I lived when I was younger. The money I spent on unnecessary things would have been useful if it had been invested. Currently, it will be difficult to spare 20% of our income to invest in Bitcoin because of responsibilities. Investing in Bitcoin should be as your financial strength can carry, it's great that you are investing your entire earnings. Nevertheless, I am hodling 15% of my income using the DCA strategy and it is done every week. I also have plans to buy in lump sum anytime I have extra money from other businesses.

_act_

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Quote from: Inwestour on September 14, 2023, 08:39:33 AM

I don’t have one exact amount that I save to buy Bitcoin every week, it depends on the market. For example, in 2022 I was much more active in this because I assumed that such a low price might not last so long, now I am more prudent and the closer the price approaches the 30k level, the less I buy. I have defined this level for myself as the limit for buying, after it rises, I will stop buying and will only wait for my goals.

Bitcoin resistance has been around $30000. I will not expect more price increase for now after that price has been reached again. I prefer to DCA but not all on DCA because I am waiting for a day bitcoin may get to $20000. For people that are short term holders, buying around $30000 is not advisable, it is only advisable for long term holders to buy around that price or below.

Quote from: Mr.right85 on September 14, 2023, 09:46:36 AM

I wouldn’t be entirely truthful to myself if I say, I have particular amount or range of my income in which, I use in buying bitcoin. I just don’t! Can’t say it’s a good or my best practice but, it gives me peace and am cool with it.

What I can only see is that you are cool with something that you know may become something good for you. People that has been patient like you and buying bitcoin in the past have good testimonies about it, let us see what would happen in some months after halving, people will have good testimonies again. Better to hold.

Mr.right85

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I wouldn’t be entirely truthful to myself if I say, I have particular amount or range of my income in which, I use in buying bitcoin. I just don’t! Can’t say it’s a good or my best practice but, it gives me peace and am cool with it.

I just buy based on what funds I have at any particular time or feel I have less need or use for. There are times in weeks or months when I have or make little expenses and to not be too excited with how much cash I have left and going about making unnecessary expenses out of nowhere, I end up just buying just about enough.
The idea for me always remains that, I buy and don’t take so much time to make that buy happen if it could.

Rruchi man

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Quote from: cafter on September 13, 2023, 06:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

If you receive a fixed amount of money as income and at regular intervals, you can be disciplined about reserving a percentage of it to DCA with.

If you do not work for someone, do not receive a fixed income and you are focused on your own business that brings you money, you may not not always have a fixed amount to DCA with all the time, but it is still important that you find a way to do it.

To some forum members who have the opportunity of this forum and are into business or even working outside the forum but are involved in signature campaigns, they DCA their weekly stipend from campaigns without tampering with it. That is also a strategy you can use to increase the bitcoins you have.

Eternad

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Quote from: cafter on September 13, 2023, 06:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

Since the Bitcoin hits 15K bottom, I start to allocate 100$ every month which is around 20% of my salary monthly salary aside from my salary here in the forum which I stake on on Binance Dual Investment to get additional profit.

I don’t have much responsibility that will involves serious amount of money and most of my salary goes to savings and insurance so I would say that my Bitcoin investment is just a free money that I can afford to lose. I don’t think much about its value since I start buying on low price while the current price is still above my average buy price. I will keep doing this until ATH or if I need money in emergency that my insurance can’t cover.

cafter

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Quote from: mv1986 on September 13, 2023, 08:14:56 AM

Quote from: cafter on September 13, 2023, 06:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

This is once again one of those questions that are doomed to fail in providing you with helpful information, if that was your goal.

It depends on a countless number of things, the type of responsibilities someone has and above all, how much someone is making on a regular basis.

If we stick with "what portion of your overall income" idea, there is so much variation to still be considered before sticking to a plan that someone else might suggest. If someone is making $100,000 a month and is investing 50% of that into Bitcoin because it feels right and the lifestyle allows to do it and take the risk, maybe no kids or family is involved and no mortgages have to be paid back, then I guess there is no issue with that. But if someone has to feed 2 kids and pay a mortgage for house, I would say that 50% is too much even when the person is making $10,000 a month.

I think it's just not really helpful to hear from someone how much is invested in Bitcoin. Whether it is 5%, 20% or 50%, without any background info those numbers lack meaning for anyone else.

I guess in relative terms the more someone is making, the higher the percentage can be because that person could cut down on many things if necessary.

yes, doomed to fail information for you because you already know that it is variable to every individuals to how much percent can they invest in bitcoin, because everyone have their own responsibility, variable income, maybe they can handle their all expenses which their 1% salary of the month.
but this question is not a failed question because i learned from your reply and maybe someone other newbie who don't thinked in this way also will learn.

Inwestour

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I don’t have one exact amount that I save to buy Bitcoin every week, it depends on the market. For example, in 2022 I was much more active in this because I assumed that such a low price might not last so long, now I am more prudent and the closer the price approaches the 30k level, the less I buy. I have defined this level for myself as the limit for buying, after it rises, I will stop buying and will only wait for my goals.

Ultegra134

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Approximately 60% of my total money is in Bitcoin; however, I'm not actively purchasing because I don't have any income at the moment. My only revenue is deriving from signature campaigns, which remain my only method to acquire Bitcoin, as I don't currently have the budget and prefer not to spend my own savings in fiat. My DCA is at approximately $28.000, which isn't too bad, and my investment can easily double in a potential bull market within the next two years. I'm hoping to return to the job market soon and start investing a small portion of my salary in Bitcoin; something minor like 5% to 10%, along with the signature campaign, is more than enough.

bangjoe

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Quote from: SOKO-DEKE on September 14, 2023, 07:08:24 AM

Quote from: cafter on September 13, 2023, 06:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

As for me, I don't believe I am using the DCA method because I don't buy Bitcoin frequently because my sources of income are unstable, but I do buy any amount that I think I can afford to lose at moment whenever money comes into my hands. As a result, it may sometimes take me more than two months to be able to top up my wallet, and it maybe lucky also happen on a weekly basis, depending on how much money comes in. It is true that the best way to accumulate Bitcoin is through dca because is way to minimize the risk in other to make reasonable profits but honestly, this should only be done if you have reliable sources of income. Even then, only invest what you can only afford to lose.

In other words, you budgeted the purchase of Bitcoin tentatively depending on, it does not become a shortage for you, because the most important thing is that you accumulate Bitcoin for your life's purpose better in investing, even if you do not make a purchase with a DCA strategy.

If you record the budget of your needs and your income, at least if your income is uncertain, but you can accumulate it in a matter of months and you will see how much your income every month, it will help you explore finances well, and you can budget Finance for needs and investment, so I think you can determine how much percentage of your money to invest after seeing your budget.

sunsilk

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Quote from: Blitzboy on September 14, 2023, 06:23:16 AM

About 10% of my monthly income goes to Bitcoin. Why 10%? I dont go wild or hurt my daily budget with this slice. Always invest moderately, especially with Bitcoin, which is uncertain. I set a preset amount to avoid touching my disaster fund or other savings. For my criterion, I follow geopolitical events, scientific developments, and Bitcoin news that may indicate market movement. I keep to my 10% rule regardless of short-term changes.

Honestly, 10% is already a decent portion of someone's income and if you're able to do that consistently it's also you that will benefit from it.

If this is the amount that you don't have to think of and not problematic with your other expenses because you can afford, this is a good allocation for your investment in Bitcoin.

Quote from: Blitzboy on September 14, 2023, 06:23:16 AM

This plan must meet my financial goals. I should never prioritize bitcoin investments over financial responsibilities. Remember that Bitcoin is only one part of the financial game.

That is for sure that you'll meet your financial goals. Whether you're hard core or all in person invested in Bitcoin or not, as long as you know your thing and doing it consistently.

The fruit will be certain in the coming year/s.

SOKO-DEKE

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Quote from: cafter on September 13, 2023, 06:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

As for me, I don't believe I am using the DCA method because I don't buy Bitcoin frequently because my sources of income are unstable, but I do buy any amount that I think I can afford to lose at moment whenever money comes into my hands. As a result, it may sometimes take me more than two months to be able to top up my wallet, and it maybe lucky also happen on a weekly basis, depending on how much money comes in. It is true that the best way to accumulate Bitcoin is through dca because is way to minimize the risk in other to make reasonable profits but honestly, this should only be done if you have reliable sources of income. Even then, only invest what you can only afford to lose.

_act_

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Quote from: Kruw on September 13, 2023, 09:39:27 PM

None. Blindly purchasing without paying attention to the price or market conditions is a terrible way to invest.

You should read the OP again. He is not asking if you should invest in bitcoin or not. He is only asking the percent of income that people will prefer to invest in bitcoin. Using dollar cost average is not a blind way to invest in bitcoin, especially in time like now when the price of bitcoin has reduced.

Quote from: Kruw on September 13, 2023, 09:39:27 PM

And no, I don't need to hear your "but if you bought $XX worth of Bitcoin every day for the past 10 years you would have!..." calculations, the previous 80%+ drawdowns in price are actionable events that were, frankly, easy to see coming ahead of time.

This is not what the OP is asking. You can wait duritng a significant bull run untill after a significant bear market before you start to DCA. And you are wrong because if you have been DCAing in the last 10 years you will be in profit by now if it is bitcoin that you are buying.

Blitzboy

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About 10% of my monthly income goes to Bitcoin. Why 10%? I dont go wild or hurt my daily budget with this slice. Always invest moderately, especially with Bitcoin, which is uncertain. I set a preset amount to avoid touching my disaster fund or other savings. For my criterion, I follow geopolitical events, scientific developments, and Bitcoin news that may indicate market movement. I keep to my 10% rule regardless of short-term changes.

This plan must meet my financial goals. I should never prioritize bitcoin investments over financial responsibilities. Remember that Bitcoin is only one part of the financial game.

posi

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I have a steady job and income but I can't exactly deduct what percentage from my income to buy bitcoin. Every time I get my salary, I calculate all the expenses incurred during the month, and then with the remaining money I buy bitcoins. Because I have a family and monthly expenses vary, I cannot give a fixed number. But I buy bitcoin almost every month when I get my salary, sometimes a little, sometimes a lot. But according to my mental calculations, they make up 10-15% of my income.

GreatArkansas

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For me, what I tried is 20% - 30% because I have a lot of expenses in real life so what money I am investing in Bitcoin is like some leftover because I know if you want to be profitable in Bitcoin, you really need to sacrifice for long time because no one knows the future of Bitcoin, no one knows when to pump or dump.

famososMuertos

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I have read that several can manage a fairly high percentage, in some cases more than 50%, well how lucky they are to live with their parents, or not have responsibilities, etc.

I think that allocating a percentage is something "normal" but it is not the way to make your ability to increase your bitcoin better orprofitable. In any case, I don't know how it is beneficial to know the individual percentage, it doesn't say much, someone who allocates 1% does not It means that it is little, in fact it could be more than what someone I read out there allocates 90%,(someone posts above).

So, amount gives strength to that percentage, that really defines your ability to have an appreciated amount over time, but However a strategy within that holding helps increase bitcoin, in fact you can increase your amount of bitcoin with a trading strategy. This strategy can help you even without the need to allocate a fixed monthly savings.

yhiaali3

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For me, I use 50% of my income on a weekly basis for the DCA strategy.

As for the criteria you use to determine this allocation, it depends on the amount of your weekly or monthly income and how much of it you need to cover your personal expenses and your family’s expenses if you have a family.

This percentage and strategy differ from one person to another because this is related to many factors such as the amount of monthly income and the costs of living in the country in which you live, as well as the presence of a family or not. All of these matters affect the DCA strategy, so each person sets standards that suit his circumstances.

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