Topic: Wrong way to accumulate. - page 5. (Read 812 times)

This is why crypto investment is not ideal for people without a consistent income flow. If you invest all you have into crypto and you end up with no money, you are a bad investor.

Crypto markets are unpredictable, and even though all the answers can be seen from chart actions, we can still be wrong at times. As a result, you must have something going on already in your life, so that even if unexpected movements occur, you will still be able to take advantage of the dips and DCA.

Since last year, I've been DCAing into Bitcoin and still do today. Even if there will be a massive retracement, I have a job that makes me money so I will never miss a buying opportunity.

A successful investor must have a job and they must always have some left over money in USD or stable coins, in case a sudden drop happen to Bitcoin, the best DCA strategy is to never run out of money, and this is only possible if you have steady income.

I'm just as simple as I want to save bitcoin, I'll just have it if I'm a long-term investor. Because if you are a community here in the crypto space and you want to save bitcoin that you are not paying a lot in a company, you will have a hard time getting bitcoin or what we say is a DCA approach. Because of that opportunity when you have accumulated and suddenly you have emergency problems, because it is not your big paycheck and even less, it is possible to move or sell at the time of the bitcoin you are accumulating.

This is the thing that sometimes even it is against our will we have nothing to do because of the need for the situation we face that is unexpected, so the investment of bitcoin should always have too much money for you to accumulate right for it

I often see news reports that this or that person is selling his property in order to invest in Bitcoin. But on the other hand, he is not at all prepared for the fact that the probability of his profit in a certain waiting period will not consist of the amount of profit that he expects. When asked why he risks everything and leaves no funds for a normal existence, he replies that he is in a hurry to have time to buy Bitcoin at the price that it is now, since many are sure that in the future the price will rise to sky-high peaks. Some telegram channels provide them with such information, and many people lose their money at the moment, believing in a quick profit.
Based on the foregoing, I would suggest not placing high hopes on Bitcoin and investing in it as far as possible without depriving yourself of all the necessary things for a normal existence in today's world. I proceed from the idea that it is necessary to live here and now since it is not known what future awaits us or whether it will exist at all or not.

I don't at all, and that's my whole point in saying that the mistake most people make is thinking Bitcoin can go another 10x hence the nonsense bets of 100k by 2024, and 1 million by 2025. Not sure how you got that I thought big growth is my prediction, I'm saying majority investors have this expectation. Or should I say are told to believe it!!

I believe in $100k and even a million but not soon.

Accumulation period and processes can never be measured or quantified with another since our basic income are never the same and people tends to stock gradually in respect to their monthly investment plan and this could only be possible if only the set some target, or a projection to what amount can be used to accumulate bitcoin.

There are some people who may want to speedily buy and hold since they already missed the line and this could be a challenging time for those who aren't financially stable as others and of course, there's no point competing while they knows that bitcoin accumulation only follows by your basic salary saving plan (this could be daily, weekly or monthly) but provided that you have income that keeps flowing accumulating bitcoin wouldn't be that difficult and of course, it won't if only you there a savings inform of cushion that would serve for the period of your investment.

This cushion would be as a reserved fund that would cater for your expenses maybe after when there is no active job and or work at hand to keep your accumulation process going the cushion would served a long way to keep footing for your expenditures when there is no active job and this would make you not to alter your plan or quickly haste to sell off your bitcoin without your predicted and determined plans for your holdings till you secure another job at hand to keep your investment processes going.

This depending on the amount that keeps coming by the end of the month, it could be 50$ to 1000k and as a good bitcoin investor or a bitcoiner who believes so much in bitcoin might 30 to 50 percent investment plans out from your total monthly income or basic salary, at this point also create out your cushion and reserve fund plan to back your bitcoin accumulation period. This alone will assure you a successful bitcoin saving plan and would as well last for whatever year without being in haste to cheaply sell of your bitcoin.

When I become a bitcoin investor, I will say that only with time you understand that you need to take your time to get a real profit of the cryptocurrency market. Scalping and other bullshit are ways to drain your deposit as soon as possible and stay without cryptocurrency.If you invest in bitcoin, you need to understand that the profit will not be soon, and for months and years you need to almost forget about your orders, whether they are pending purchase or resale orders at the top of the price range.

Those who invest in Bitcoin for a certain period of time start making long-term investments after a while. Because they are starting to believe in Bitcoin. The long-term investor knows that the price of Bitcoin will fall for a certain period of time. It tries not to be affected by this change in Bitcoin price because it has a target price and starts to wait. Not all long-term investors are the same, but many continue to hold their investment no matter what happens in the market negatively. They usually achieve their desired goal.

Long-term investors have not lost in Bitcoin's history. But the main thing here is to be able to wait. This requires financial strength.

The inability to take profits at the right time is the worst possible practice,  many investors who are in for either long-term or short-term goals missed the opportunities that come along the way we're the volatility of the bitcoin market presents them the opportunity to cash in some gains using the DCA approach when the price rise in-between and correct back again.
Selling all the way up and buying all the way down is the fastest way to grow your Bitcoin accumulation and at the same time cut the edges against the dollars,  using BTC vs $ against each other where the market determinant remains Bitcoin price at the time.

Every investor has a certain plan according to which they usually invest. Many people plan for long term investment and many people plan for short term investment and there are some investors who plan for long term investment but when the market increases more than their expectations they sell their investment ihow investors invest it totally depends on an investor. People who are more risk-averse in investing and have more money invested usually decide to invest for a longer period of time. Most of the investors invest with risk in the initial stage, but later due to market changes, they cannot hold their investment and sell their investment with some loss of money. Investors who can take the risk and hold Bitcoin through good and bad times ultimately succeed in investing.

For me , it is not the way of accumulating but on how they are thinking why they accumulate.

Imagine majority of the people I knew that bought bitcoin believe that this will make them rich just by buying and holding.

so that would be the best to tackle than how they are buying.

because no matter how they bought but their belief is what importance, and they also must understand that this is currency and not a store of value.

Instead of being a trader, you should be a hodler. DCA is good for converting your worthless fiat into Bitcoin as efficiently as possible, but you must remember not to sell. Not even when things are looking really grim. So in other words no back and forth trading. Otherwise your DCA strategy becomes worthless and you grind your money away with trading fees, or worse with trading on a loss.

Not everyone is as disciplined to do this but eventually, when they become Bitcoin veterans, they will realize its the best way.

When one starts to accumulate it is upto his ability. We can't be sure that he is stressing himself to accumulate more. He can be doing some additional work or he might've cut some unwanted expenses to increase the accumulation. We aren't not late to the party and investing on bitcoin regularly will surely help with better profit in the long run. There are people who focus on short term profit investing huge amounts. This shouldn't happen, because we aren't sure of the rise in the price. In all means we should have the patience and the long term focus, in between if the Market have risen we should make use of it.

For some people, after having a bad investment with Bitcoin, which is usually their fault, they end up with a bad mindset towards Bitcoin, and as such, they can misinform others of their bad experience with Bitcoin, which can make the person not want to invest in Bitcoin even after having the interest to do so. Some people, too, make those kinds of mistakes, and they learn from them and do better, but those who are just in search of a quick and large profit usually make those kinds of mistakes. You know what some investors do? They are aware of what the consequences would be, but they just decide to try their luck, believing that before they would have a need for money, the price of Bitcoin might have earned them a little profit, and they would just sell off some little fraction of Bitcoin. But sometimes things don't just work as planned because the market is usually unpredictable.

This is quite unreasonable. Because we will usually stay private and will always maintain our privacy when investing. So, the possibility to feel like competing with other people is probably very small. Because we don't know whether other people have bigger or smaller Bitcoins than us. Unless the person knows a few other people and wants to feel that they are superior, this is possible. But I'm sure, only a few who think so. Because the investment is for personal gain, for the sake of getting profits that are in accordance with expectations.


Yes, this is why some people who invest in Bitcoin experience high pressure and depression. Because they start with the wrong understanding and target, or you could say it's excessive. Because they only think from one side, namely that they can get rich from Bitcoin like other people. others who are also successful from Bitcoin. So especially when Bitcoin becomes hype, they will do everything including borrowing money to buy Bitcoin and hope to get many times the profits from this investment soon. And this unfortunately happens too often. And finally they will experience high enough stress when reality does not match their high expectations. because they invest beyond what they can really afford.

I think many folks are completely lost on the fact that Bitcoin is actually money too and what is money meant for? It's covers a wide range of things which are payments,   savings and so much more but Bitcoin is just special because of its decentralized nature and the ability for it to have the feat of store of value meaning it's value continually adds up overtime unlike fiat which is quite the opposite.

Just cut the crap and save yourself the trouble by employing Dollar Cost Averaging or DCA.

People have to realize that even though bitcoin is effectively tied to the dollar as it stands today, it's still its own currency and the highs and lows are really negligible if you come to think of it, nevertheless for those people who are not keen at losing money, DCA is your best friend as it allows you to accumulate and accrue bitcoins at regular intervals, regardless of the price. Allows you to stock up on bitcoin too without the hassle of timing out your buys and sells, and ultimately sets you up for a profit especially since we all know that bitcoin is a net positive asset anyway. So while the short-term method you're talking about is good and has its caveats, the only thing that's really stopping you from investing using the DCA method is your own psyche.

I do not think there is a wrong way to accumulate bitcoin since getting bitcoin at any price can be a good decision, the issue is with holding your coins, many people think that after buying bitcoin they only need to wait for a few weeks in order to see some results but this is not the way things work, it usually takes years for this to happen and simply the majority of the investors out there are not really ready to make that kind of commitment, as they invest too much money in this market and at some point they are forced by the circumstances to sell for a bad price.

Being greedy is a very normal human being behavior and it is really just that there are people who are really that able to control such emotion and there are people who cant on which it would really be resulting into those steps and decisions on which it isnt really that something realistic or something to be on the right path anymore on which it is really just that normal that decision making on the time that you are on the situation on which
you are investing on Bitcoin and having that perception about being rich? This is the  time that your greediness would kick in but sooner or later you would really be able to realize that its never been that something realistic
on having this kind of approach because literally speaking about into its movement, you could eventually tell that it wont really be that possible, unless if you have invested that big but of course not everyone would really be having the capability on doing this and only that just limited on few individuals. Its not bad on being optimistic towards it, it is really just that right that you should be that sensible on whatever decisions that you had made on.

For DCA investment the price don't really matters because you have certain goals to accumulate for a specific time period or don't want to sell so you just go with it.That's a good way to accumulate actually without caring too much for prices and your average investment can turn to be in profitable state easily after some time when they gets boost.

When people become greedy thinking that bitcoin could make them instant rich that’s why they invest all in, putting all their hard-earned money into it because of the wrong belief that if they’ll invest bigger amount, the amount of profits will certainly become huge too. Of course, in a volatile investment like bitcoin, there’s no assurance if you’ll be in profits or not, or when will be the time you’ll end up in profits. Because I believe the reality in bitcoin investment is that the bigger amount you set to invest, the higher chances of losing as it only increase the high risk of losing in a volatile investment.