Bitcoin dipping recently took a toll on my mental health. I thought with all the negative news about it might finally be hard to recover but how wrong was I. I am a idiot for doubting my investment and I will make it a part of my daily routine to come here on this topic as I know you guys are always more optimistic than the rest of the internet and I need that in my life!
In the end, you gotta figure out your own situation beatleap, and if you have already arrived at the conclusion that bitcoin is a good investment for the long term, such as 4-10 years or longer, then don't overdo your investment, but invest regularly and consistently.,. and sure, hopefully you are not getting distracted by shitcoins either.. I did take a quick glance at your post history... so it does look like you may have gotten distracted from time to time.. but hey.. live and learn, I hope.
Anyhow, make sure you attempt to get your cashflow in order and then just start to invest a reasonable amount on a regular basis that works for you and verify that you will not be over-extending yourself, and you are not going to feel any compelling need to dip into your bitcoin investment because you got the rest of your cashflow (and emergency funds) together, so if you end up investing $10 per week or $1,000 per week will depend on your cashflow and other aspects of your personal situation and how much extra money that you have that you are not going to miss if bitcoin were to go to zero, for example.. which seems doubtful, but still is an aspect that you have to prepare for in terms of both psychology and finances in order that you do not panic were the BTC price to go down and you therefore have some reasonable plans, if such a thing were to occur.
No one can really figure out the exact amounts of regular and ongoing amounts for you, even though we might be able to help you to figure out for yourself some ballpark ideas of what might work for you and your circumstances, and maybe you can describe what you have been doing, so far in terms of your bitcoin investment strategy in the past 7 years or so?
When I looked at your profile, I noticed that you have been registered almost as long as me, so just consider that if you had merely invested $10 per week into bitcoin for the past 7 years, you would be in a fairly decent position right now in terms of about a $3,660 investment amount and with about 4 BTC accumulated from your ongoing investment of a small amount on a regular basis.
Of course, you cannot be overly kicking yourself if you had screwed up in the past and you had not been able to accumulate a sufficient amount of BTC to make you feel like you have advantaged from bitcoin's price appreciation through the past cycle or two, yet dollar cost averaging does seem to be amongst the best of base BTC accumulation strategies, and of course, you can supplement such BTC accumulation strategy with front loading, lump sum investing and buying on dips, but sometimes supplementing can get you into trouble too, if you were to end up NOT figuring out your finances and personal situation sufficiently and then overextending yourself, your psychology or your budget then as a result and you may end up with cashflow issues/problems and even psychological problems in the future that could have been better prepared for.
