Bitcoin price action is unpredictable, I learn that even those who are very good at reading charts are some times wrong, instead of trying to see the future I just prefer to DCA into Bitcoin when I have the money, there will be no worries of what will happen to your money, unless you are in for short term only.
DCA will give you a good advantage instead of investing all the money you ever had or all the money you can afford at once unto Bitcoin, gradual investment will give you a better advantage over price action, especially when the price is dumping.
If 3,000$ is all you can afford for a whole year, start investing 250$ every month, Bitcoin might be 26,000$ and in a month time it can be at 17,500$, the truth is no one will know, so DCA makes it better, Another thing is you get more Bitcoin when the price is lower.
Topic: Wrong way to accumulate. (Read 812 times)
In addition to what you mentioned, there are wrong ways to deposit bitcoins, there are many people who make the same mistake. For example, if an investor wants to invest in bitcoins by taking a loan from a bank or someone else, who will make the biggest mistake? Again, there are many people who sell their assets like gold or land and think of depositing bitcoins with this money. So I would advise those people that instead of having such negative thoughts, it is best to think positively and invest bitcoins with your savings. Because we always have to think about the fact that there is volatility in the Bitcoin market which can put an investor at risk if he invests with debt. In that case, a bitcoiner should be fully aware of this and it would be better for him to use some of his earnings to accumulate bitcoins.
If history has taught us anything, it is that the quickest way to financial destruction is through leverage and rash decisions in volatile markets like Bitcoin! Selling actual assets for something as unpredictable as Bitcoin or taking out a loan? It's insane, not just foolish! Listen, throughout history, people have consistently made terrible decisions that were frequently motivated by greed and ignorance. Use your money at least if you're so anxious to join the Bitcoin craze. But always keep in mind that in a market as erratic as Bitcoin, you can end up ruling the hill or being laughed at by everyone 
What are your own thoughts on wrong ways you think people follow in bitcoin accumulation.
One of the wrong ways to accumulate Bitcoin is to invest in altcoins and when you get the profit convert it to Bitcoin so that the Bitcoin increases.Altcoins can indeed sometimes provide bigger and faster profits but it is balanced with the risk of loss that we can accept because it turns out that the Altcoin we choose is the wrong coin, because until any time we will not be able to correctly choose which altcoin can provide profit, because many altcoins are created only for short-term purposes to take, and the market could not realize it until it finally became a coin that has no value at all because it has been abandoned by its developers who have made a profit, so buying altcoins for profit in order to continue accumulating bitcoins is like gambling
In addition to what you mentioned, there are wrong ways to deposit bitcoins, there are many people who make the same mistake. For example, if an investor wants to invest in bitcoins by taking a loan from a bank or someone else, who will make the biggest mistake? Again, there are many people who sell their assets like gold or land and think of depositing bitcoins with this money. So I would advise those people that instead of having such negative thoughts, it is best to think positively and invest bitcoins with your savings. Because we always have to think about the fact that there is volatility in the Bitcoin market which can put an investor at risk if he invests with debt. In that case, a bitcoiner should be fully aware of this and it would be better for him to use some of his earnings to accumulate bitcoins.
There’s no wrong way to accumulate bitcoin as long as you don’t panic sell at a loss. If you buy & hold for a number of years you are historically, at least, always guaranteed to turn great profit. Due to the deflationary design of bitcoin it is very likely this will continue for the foreseeable future. So essentially, DCA or smash buy, whatever, patience & holding long term is the main thing to guarantee profits.
I'd never see any problem with the way we accumulate Bitcoin but what I notice is that we usually get it wrong in the time of selling because when we hear negative news and price decline, we then think about selling as we are worried about what comes next. Yes, panic or emotion is the most common reason why we lose and this is very often happens to newcomers. This is why it was been encouraged that we know how to be patient and we must know how to trust Bitcoin as this would help us to keep strong and become optimistic despite the market challenges that we experience. There’s no wrong way to accumulate bitcoin as long as you don’t panic sell at a loss. If you buy & hold for a number of years you are historically, at least, always guaranteed to turn great profit. Due to the deflationary design of bitcoin it is very likely this will continue for the foreseeable future. So essentially, DCA or smash buy, whatever, patience & holding long term is the main thing to guarantee profits.
I'd never see any problem with the way we accumulate Bitcoin but what I notice is that we usually get it wrong in the time of selling because when we hear negative news and price decline, we then think about selling as we are worried about what comes next. Yes, panic or emotion is the most common reason why we lose and this is very often happens to newcomers. This is why it was been encouraged that we know how to be patient and we must know how to trust Bitcoin as this would help us to keep strong and become optimistic despite the market challenges that we experience. 
What are your own thoughts on wrong ways you think people follow in bitcoin accumulation.
Lack of patience.They think that as people tell that they should DCA and they obliged, they'll already going to become rich. That's not it, even if you DCA and follow suggestion of experienced people, patience will still bring you far.
As said that it shouldn't be pressuring and stressing, many of the investors are not patient. They think that at all times the market is hyper, no it's not.
Basically almost every bitcoiner is in for accumulation committing certain amount of investment with a timeline to it. It could be for short term or long term plan.
Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.
You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.
What are your own thoughts on wrong ways you think people follow in bitcoin accumulation.
Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.
You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.
What are your own thoughts on wrong ways you think people follow in bitcoin accumulation.
For a moment I understand your speech in the third person, then it seems that it is your experience but it does not fully materialize that this is your experience, I say this because one can read and refer to others, but that does not imply that it is your experience on the subject.
For example, which investors? You... because you say that investors commit, mainly bitcoiners, that is a mention of a sensation or possibly you read it, because personal experience as you relate is not.
Then, as everyone follows his plans, they can only be a reference, and from there take the best ideas, if there are any, since what you see badly does not necessarily mean that it does not work.
I don't think there is a wrong way to accumulate... just because if you are smart enough, and of course will have always the cash/FIAT needed for some "essential services".
it's not really hard make such "aggressive" accumulation mentioned by OP with the proper pianification.
Nowadays it's plenty of services that allow btc storage (hot and cold wallet solutions) and easy way to spend the coins....
I know personally people that allocate not less than 30% of monthly wage in bitcoin.
Other ones (like me) that made purchase only on certain situation (I want to buy a service/price is convenient).
it's not really hard make such "aggressive" accumulation mentioned by OP with the proper pianification.
Nowadays it's plenty of services that allow btc storage (hot and cold wallet solutions) and easy way to spend the coins....
I know personally people that allocate not less than 30% of monthly wage in bitcoin.
Other ones (like me) that made purchase only on certain situation (I want to buy a service/price is convenient).
One strategy that I came across some time ago, which I mentioned previously, is the concept of "Dual Investment." It's important to address why individuals often accumulate BTC incorrectly. This tends to happen when people jump into the market too late, during a period when Bitcoin is already experiencing a surge in value. Which all know that this behavior is often referred to as "fudding." Another reason is that many people attempt to time the market perfectly, but this can be challenging due to our human nature. At times, we might inadvertently miss out on opportunities.
I think you confused multiple terms here. Not sure why you mentioned Dual Investment, do you mean investment product offered by e.g. Binance?
When people use the term "accumulate" they usually mean to purchase gradually to slowly build up the desired holding. Buying at the top is not really accumulating.
And fudding stems from FUD (Fear, Uncertainty, Doubt), meaning spreading (usually fake) news and rumours to scare investors and drive the price down.
One strategy that I came across some time ago, which I mentioned previously, is the concept of "Dual Investment." It's important to address why individuals often accumulate BTC incorrectly. This tends to happen when people jump into the market too late, during a period when Bitcoin is already experiencing a surge in value. Which all know that this behavior is often referred to as "fudding." Another reason is that many people attempt to time the market perfectly, but this can be challenging due to our human nature. At times, we might inadvertently miss out on opportunities.
By starting to invest at a larger capital believing that it could also gain bigger amount of profits. But in reality, it’s not actually the case. Your profits will depend how good and reliable you are as an investor, not on the amount of capital you start to invest. Also, by starting to accumulate when the market is in bullish, just to ensure oneself that the prices will even continue to surge high and reach higher prices. But in reality, as long as the market remains volatile, the price will never follow a one way direction but will always move both in the same direction. At some point, the price is up, while at another point, the price drops and reaches a lower price.
People should simply utilize the DCA (dollar cost averaging) system and stick with that, otherwise you're simply trying to play market timing. The biggest mistake I see people making is buying bitcoin when it starts to really take off. This of course means you're chasing highs that may end quickly, and then you just bought at the top. This of course is exactly what NOT to do.
Although some do try as best to follow the DCA strategy but on the long run of their investment plan they fall out to other means to either feel that they are smart enough to gather much BTC in few minutes or go into trading to gather more in lesser time which is very risky and this can even end up eating your whole investment if you are not an expert and for me I feel their is actually no expert when it's come to trading because I have termed both trading qnd gambling to be one because of the risk of uncertainty. 
People should simply utilize the DCA (dollar cost averaging) system and stick with that, otherwise you're simply trying to play market timing. The biggest mistake I see people making is buying bitcoin when it starts to really take off. This of course means you're chasing highs that may end quickly, and then you just bought at the top. This of course is exactly what NOT to do.
All strategies are of course very feasible because at the end of the day whether it is DCA or buying on dips all depends on ourselves who run especially strategies like this are also not wrong to do.The most important thing right now is how we try to maintain because buying and selling is a very easy matter but holding back not everyone can do it.
There are so many people who sometimes even have narrow thinking where they feel deceived by bitcoin and sell even though they experience losses because they do not have basic knowledge about bitcoin and investment because they only follow buying and selling without calculation but do not realise that what they do is actually making them more miserable.
People should simply utilize the DCA (dollar cost averaging) system and stick with that, otherwise you're simply trying to play market timing. The biggest mistake I see people making is buying bitcoin when it starts to really take off. This of course means you're chasing highs that may end quickly, and then you just bought at the top. This of course is exactly what NOT to do.
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There’s no wrong way to accumulate bitcoin as long as you don’t panic sell at a loss. If you buy & hold for a number of years you are historically, at least, always guaranteed to turn great profit. Due to the deflationary design of bitcoin it is very likely this will continue for the foreseeable future. So essentially, DCA or smash buy, whatever, patience & holding long term is the main thing to guarantee profits.
There are always ways to accumulate and avoid unnecessary losses in bitcoin, it is power and knowledge alone that will make anyone decide not to get involved in a panic. Buying and holding has historically been bound to turn a profit due in as to bitcoin's deflationary design as we've seen so far, but also not the least of expectations beyond the mismatch between buying and expected gains in the short term. Finally patience in acting will actually give birth to losses when selling sells beyond the desired achievement limit. Holding and buying will always give birth to profits and the concept is patience as you convey and if someone can do this properly it is very unlikely that the investment undertaken will suffer losses. That's why sometimes investments in the short term must be adjusted according to the budget to generate profits and it is different when someone expects the long term as an investment in his life.
Until a person find himself to be wrong or right, there is nothing to correct. The person does it based on his understanding about the market. Every people try to have their own technique and strategy while accumulating bitcoin. The best being buy when the price is at the bottom. It is really tough and the same could make us miss opportunity to buy at the lowest price. For this reason it is good to spend specific amount regularly on buying bitcoin. Along with the same DCA is really good against buying as a whole.
True indeed. That’s where he’s comfortable of doing and that’s how he gained understanding from the market, so if he is doing it wrongly, he will later recognize his mistake after a lesson learned. And when that happens, if he’s mature and capable enough, he will never repeat the same mistake again to avoid repeated losses as well. It’s always good to accumulate bitcoin as early as now especially that bitcoin halving is fast approaching, but what makes it wrong is when you spend your money more than you can afford to lose. Remember that bitcoin is still risky and cannot assure guaranteed profits, but if you know how to do the math, you will never invest more than your means, otherwise you’ll end up regretting your decision.
There’s no wrong way to accumulate bitcoin as long as you don’t panic sell at a loss. If you buy & hold for a number of years you are historically, at least, always guaranteed to turn great profit. Due to the deflationary design of bitcoin it is very likely this will continue for the foreseeable future. So essentially, DCA or smash buy, whatever, patience & holding long term is the main thing to guarantee profits.
I have noticed that for many, getting rich quick is associated with buying altcoins, but I think this is a false path, because these are big risks and I am not sure that it is worth risking your investments at the very beginning.
The logic behind it is people think that since Bitcoin is already high (compared to its first years) and therefore the only way to get super-high returns is to gamble on low-market cap altcoins. And since they only have small capital, they feel like they have no other choice.
There's some truth to it, but that's not a wise approach. In the longer run, it's way better to be patient and invest small amounts the same (or similar) way you'd invest large capital, than to just to piss money away on a short-lived pump and dump schemes.
The problem is that those who invest in altcoins think 300% is low profit. They aim exaggerated goals such as 1000% and even more, which are promised to be reachable by altcoins developers and shillers. That is when investors lose money, because those goals aren't realistic in most cases.
I agree that many newbies are making the mistake of thinking that bitcoin is saturated and cannot give them big returns, and they look to altcoins with the expectation of making bigger returns. And I also agree that investing in altcoin is very risky but the return will be huge if we choose the right project. But what's wrong with them investing in altcoins? I mean not all altcoins are useless and scams. Such as ETH or BNB, they are also altcoins, but their potential is undeniable, and their returns are even more substantial than bitcoin these days. So why not invest in them?
We are always critical of people who invest in altcoins, which makes us no different from old-fashioned real estate and gold investors. They also criticized us for choosing to invest in bitcoin because it was too risky, and we called them stupid for not investing in bitcoin. So are we stupid to criticize those who invest in altcoins when they have a chance to get huge rewards?
Short-term thinking is one of the wrong ways of accumulation to get rich quickly within the market has many new investors only thinking short term. And while the possibility of earning massive on a crypto investment, there is also the possibility of losing all funds to a bad investment move. Having a long-term investment plan/ mindset would help you choose your crypto investment more carefully and concentrate on picking high-quality projects with a long track record. Trying to get rich in just 90 days is a fast way of going broke but thinking about crypto investing as a multiyear process will help you build a more thoughtful crypto portfolio.
What's basically wrong is the mindset of getting rich quickly with cryptocurrencies, I know that it happens with some but that is purely out of luck, and general cryptocurrency investments can only provide you profit but won't magically make you rich overnight. So one needs to rectify their approach first and take this opportunity just as an opportunity to earn money, maybe even earn a living if done properly but shouldn't think of it as a get-rich-quick scheme.People who enter the market with this approach will most likely waste their money investing in shitcoins hoping for huge gains and eventually losing their investments and then blaming cryptocurrencies for making them go broke which is actually the result of them becoming greedy and wanting a lot of money in a very short period of time.
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