I realized you are thinking to invest all your free money. That's not exactly what I do. I invest %20-40 of that free money but it used to be higher when btc was below $10k. At some point I was going all in with my free money but not now. This shit is complicated and I don't think anybody knows what he is doing. If btc goes to zero right now, oh man that would be so big it would trigger a world war. Think about all those people and their life savings in btc. :O
It does not seem to be a bad idea to have an investment plan, even if it is investing 100% of free money, as long as the person has enough money to cover all expenses, including emergency expenses, and also be prepared for the BTC price to go down, rather than up - and expect not to access your BTC for a decent amount of time - maybe 5 years (but if the price comes up to a better price, then of course you can adjust your plan and to cash out some earlier than 5 years because the market is performing better than expected.
But the difference between guys like me, and arrogant guys like ivomm (ivommit?) is that the second lot will likely never dare to sell on time.
I have sold several times since I first bought in 2017, and what was 1 BTC originally became 1.38 BTC with time. That's what
"know-it-all" ivommit does not understand
Bitcoin price has some many ups and downs that it is quite easy to do, much easier than on the stock market.
I won't lie, sometimes I had to wait 8 months for the price to go where I wanted, but it always went there eventually. I dared to press the sell button and that will help in the future, people who never pressed the sell button may feel incredibly nervous to the point that maybe they will never sell until BTC disappeares? (let's be honest BTC dying is also a possibility).
PS: about the edit part, I was obviously sarcastic about buying 700 euros of BTC per month (my average monthly savings), that would be incredibly dumb to do. No need to explain why.
I doubt that there is any need to compete against other guys (gals) or to suggest that your plan is better than theirs.
Hopefully, each person tailors his/her plan to his/her own situation and is able to figure out what is preferable.
Just like you are willing to wait 8 months or longer for your target, there are also plenty of BTC hodlers who are willing to wait 5, 10 or 20 years while employing an accumulation and HODL strategy that does not involve selling any BTC.. just continue to buy and accumulate. Those people have historically become rich, and there is no reason to believe that the future might not have some similar patterns as the past.
There is also a gamble with any kind of HODL and accumulate strategy that involves the possibility that bitcoin can go to zero. Of course, any prudent strategy should consider that possibility and be prepared to lose everything or to have some kind of cash out plan if such situation seems to be coming.. there are also some who are more than willing to hold to zero, if that is what happens. Currently, BTC seems to have a whole hell of a lot more of them holders of last resort than any other currency, who will likely not only hold but will likely continue to buy all the way down to zero, which decreases the chances of BTC actually going to zero.