Would it be enough to buy 100 dollars worth of Bitcoin every month? - page 8.

CryptoHeadlineNews

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Quote from: arjunmujay on December 07, 2023, 07:37:31 PM

take a look at the price chart I took from coinmarketcap

year 2021 $32,129.41
year 2022 $46,311.74
year 2023 $16,952.12
and almost at the end of 2023 the price of bitcoin continues to increase to $43,38x.xx for now

But what do this price figures highlighted bold above actually means? Because I tried figuring out, but seems not to comprehend, and I will be very glad if you can elaborate more on it for me. Because at first I thought could it be the price of Bitcoin by the time many years ago, but the very moment I saw "year 2023 $16,952.12", I knew it can't be the price of BTC, because we are currently in December, and the price of Bitcoin is $43k.

So can you please elaborate more on it?

Yamane_Keto

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If you intend to invest for a long time and leave this money for ten or twenty years, it may be sufficient according to your country, but since you deal with Bitcoin as an investment, it is easy to predict prices compared to keeping this $100, and you will inevitably find that the value of your investment will increase, and it may increase faster if you decide Invest a large amount, such as $1,000, from one of your friends, and return it to him with $100 in the coming months.

Darker45

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And who will pay for the credit card bills? Your father I suppose? So that's like your father is spending double for your monthly allowance. I bet he also doesn't know about this. Otherwise, he probably won't allow you to do that.

I don't think you're doing it right. This is literally an example of FOMO. You fear that you miss out big on Bitcoin that's why you're using even your monthly allowance to buy some. Although this might prove to be profitable in the end, is your family having regular excess savings that you don't care about what you're doing?

If not, I advise you to stop it. You're a college student. It isn't your business investing in whatever. You don't have an income yet. If you badly want to invest in Bitcoin, try looking for a part-time job or a side hustle.

Bartello

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Look at your incomings and outgoings and invest what you can afford to lose, but make sure your basic needs are met first. It's good that you're choosing to invest and use your money wisely, but If that $100 is all you have, then maybe it's wise to keep some of it back just in case anything unforeseen arises.. Good Luck.

Kaliandra

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$100 for now you can get btc 0.002300 in my opinion this is a decent amount as long as you routinely do dca every month but of course the money you are ready to lose is right to put in bitcoin, but in this case of course you have to think carefully because You need to know that BTC has a fluctuating nature, so basically you can buy Bitcoin and use the DCA system every month, but of course you also have to think about unexpected costs such as unexpected costs at your school, college and so on. and you need to know that investing in BTC is not a quick way to get rich, the point is that it takes a very long time, and you need to remember that Bitcoin can get as high as it is now, of course it takes a long time.

but op I think investing in BTC with whatever amount I think is enough as long as you are prepared for the risk, and of course you with $100 to buy BTC every month is certainly enough of course because if you invest in the next 1 year or 2 years of course your Bitcoin amount will increase, I think This is a good idea because in 2025 we will potentially see the bull run that bitcoin investors have been waiting for.

Richbased

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You had rather buy bitcoins than none but to me since you are sure that the money must surely come to you on monthly basis I would have suggested you take a loan that will expire after the halving and use all the money to buy and hodl Bitcoin till after the halving because from speculations Bitcoin price will continue to surge higher till the bull market begins, my reasons for advising you to take a loan is because you are sure to pay back when the agreed date approaches and moreover your daily needs doesn't come from the money as you've already said you use your dad's credit card to buy some personal items for your self meaning at every month your pocket money is intact then due to the increase in the price of Bitcoin on daily basis now waiting till you receive your pocket money on monthly basis will mean that you won't be buying Bitcoin in same amount every month so if it was me taking a loan, then buy bitcoins in huge amount and hodl it will be preferable.

tranthidung

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month.

What is your father's allowance for?

Quote

I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes.

Please use money properly and don't exploit your father's credit card.

Quote

I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough?

Don't feel you are behind anyone else. We all have different entry points and different income resource so that you must feel satisfied with best you can do for your portfolio.

Make sure you have a safe risk management for both your life expense, emergency and investment portfolio. Basically with human instinct, we never feel enough so your question is wrong.

The good news is if you already did research and had belief in Bitcoin, you can start your investment and can maintain it a long time. One of good investment strategies is Dollar Cost Averaging. Because you are only at beginning, you can use two DCA websites to imagine how this strategy will help your investment after like 1 or 2 years.

The first website is more useful because it has information for profit, loss of each DCA round.

If you are still vague about DCA effect, see how it helps both MicroStragegy and Nayib Bukele (on behalf of El Salvador) to get profit with their Bitcoin investments.

GreatArkansas

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The amount on how much we can invest always differs from ours, like how much we make or how much we are willing to risk.
The question must be answered by you, OP. Is it enough? If that $100 will be lost, it's fine to you? Because in investment, no guaranteed.
Additional thing is make sure you have some emergency fund because maybe you already investing your all money in Bitcoin like it is already too much to you.

Assface16678

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Yes, that's enough. Every amount is enough. You are doing DCA, so any amount will do as long as you know what you are doing and you know the risk. You see, you can't just buy and buy bitcoin anytime you want; there is a right timing, position, and price because if, for example, you bring satoshi at this price but it goes down, then it's a down trade. You will see red in your portfolio even if you can recover it by waiting for it to go up again. It's still scary because, for the inexperienced, you will have anxiety waiting and waiting, so it's also advisable to not look at your holdings so you will not make decisions based on emotions. If you don't want to just hold your assets, you can try trading, but yeah, it's a lot risky and dangerous. Anyway goodluck on your investment journey anytime you could ask here on forum.

arjunmujay

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take a look at the price chart I took from coinmarketcap

year 2021 $32,129.41
year 2022 $46,311.74
year 2023 $16,952.12
and almost at the end of 2023 the price of bitcoin continues to increase to $43,38x.xx for now.

looking at the annual chart, it can be analyzed that the price movement of bitcoin continues to increase from year to year. it can certainly answer your question

Quote from: puradak on December 07, 2023, 06:45:03 PM

~snip~
I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

I think it's enough if you invest $100 every month. with a note that it is for long-term investment, it can be more than 2 years and you never sell because of a momentary bulish. because it is human nature, if you see bulish and feel that you have made a profit, there will definitely be a sense of selling at that time, and never think that it is a momentary bulish that will make the price soar even higher.

Amphenomenon

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

There is nothing here to worry about, you are not missing out, bitcoin will continue to raise even after halving next year. You are about to get into college and you are already fortunate enough to be having $100 per month to invest in bitcoin, just imagine how much you would have save up to till you graduate. For me you should be Thankful to God about it because there are alot of college student and graduate who are unable get monthly $100 for investing in bitcoin.

btc78

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there’s no ‘enough amount of btc’ just invest whatever you can

to me as someone I consider middle class, 100 usd every month is A LOT especially considering that your experience are not covered by the 100 usd as long as you have invested in bitcoin during when it was still low in price, the amount doesn’t really matter much because either way you’re always gonna get profit

hatshepsut93

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

Enough for what? To get rich quick? Buy a house? Most likely not. The previous bull run had around x10 growth between the bear market and peak of the bull run, and around x6 growth if you take averages, And there's a strong decreasing trend of this relative growth with each bull run. So this next bull run might have only x5 or x3 growth, and your $100 will turn into $300. That's a great result if you compare it with bank deposits or some stocks, but this isn't the crazy profits that the early Bitcoin investors saw. But this doesn't mean that you should look for altcoins, because altcoins lack fundamentals and are just pump and dump schemes that crash to the ground without any chance of recovery.

CryptoHeadlineNews

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

Wait. Did I just hear you ask would investing $100 monthly be enough for someone is not yet working? Then the simple answer is "Yes" it will definitely be enough, because investing in Bitcoin is not a competition, whereby you drag who its gonna take first or not, but it is an investment you start with the mindset it's gonna be kept for future use, hence it's not something that you rush into it because it's not a get rich quick scheme

alani123

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It all depends on your income. If 100$ is something you can comfortably spend, go for it. It is enough only if you can afford it.
It can be too much also. Don't spend what you can't afford to lose in buying Bitcoin, because it can spend extensive amounts of time below your entry price. And maybe one day you will need some emergency funds.

Ask yourself, it you as a college student spend 100$ each month on investing will you be able to also spend on an emergency fund separately? Will you live comfortably even then? If so, ok. But I fear that it would be be so comfortable. For now maybe focus in the studies?

oktana

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I just replied to your other post if I am not mistaken. Like I said, buying $100 every month is very okay. You must not buy with thousands or millions. What matters is that you buy, you’re consistent at it (you don’t miss any month), and you do not ever touch the Bitcoin for any reason. Do the math for a couple of years and you’d see that it’s a lot of money. Selling your computer may not be necessary because like you said, it’s like $600. But I think a computer is something the average person needs.

puradak

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I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

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