Topic: Wrong way to accumulate. - page 8. (Read 812 times)

Just let them be, because on the time that they would be able to see that they dont have much money left in their pockets or even on their banks then this is where they would be making out some realization that they did
that much which isnt supposed to be that way because we know that we do have different priorities in life on which it would be normal that there should really be allocation in each part on which it is really that playing a crucial role in terms of living. We cant really just put everything on one thing which we know that the risks would be always there. Dont make yourself that really too impulsive in towards of thinking that you had missed out the golden train because this is the main reason on why you would really be making yourself that desperate. Well, its their choice to make since its their money but thinking up realistically then it would really be better that they would really be minding about those risks involved or attached to it.

There's no assurance that this would last for a life time, there's no assurance that it would be able to surpass a million per coin but since we've seen its potential and the previous achievement or milestones
that it did reach out then there's no doubt that this is where investors been holding and been hoping into.

I think the profit taking is a bigger problem than accumulation. Too many people are setting goals for bull markets, like waiting for $100k and completely miss out on opportunity to sell high and then buy low. It's okay to not want to be a short term trader and hodl, but every bull market has a short window of opportunity for maximizing the profit. If you take this opportunity, it becomes less important how you accumulate.

DCA is not about buying the dip. It's about buying in a certain time, like 1 a week or once a month, regardless of the price.
It's of course better to buy as much as you can, so looking for the cheapest bitcoin is a great idea, but it's not DCA and DCA is not the best way to accumulate. It's great for people who are to busy with other things and cannot watch the price waiting for it to meet their target, like some traders do.

Doing it in a bear  market is the way to do it. Would you rather DCA when bitcoin is at 50k?

Trading is what we often term for the short one while those that goes long are investors who have made bitcoin turned an investment for them to hodl over time, we all do this to make profits, the more we accumulate the more others are selling for us to have an entry point.


It's very important to invest what you can afford loosing, but bitcoin investment is not like gambling that you loose your entire investment in it, little part of it can can be lost while trading and on the same vein you have every opportunity to make more additional profits to what you have invested.


I don't know the mentality that some have towards what bitcoin is since everyone can picture it use from different perspectives, but most times we rush into doing something we often rush out of it as well, there's no need of rushing in doing anything, it will have negative influence than the benefits we may expect.

Bitcoin have come to stay, and until people get to understand that concept, they will always have problems with investing in Bitcoin. So apart from what you just said, another wrong way to accumulate Bitcoin is by taking a loan to invest in Bitcoin, which I can it the worst thing any individual could ever think of doing, because the fact that Bitcoin is a volatile currency which have the potential to rise in price, so does it also have the potential to fall in price too, whereas you loan interest is constant, which makes it a wrong decision to ever make. Because its better to invest little by little in Bitcoin than taking a loan.

Long term DCA'ing works the best. You simply buy bitcoin every month or week. The amount may change in time but it is better to spend a certain amount every time. $1000/month or $500/week, it all depends on your finances. You do this till you reach your target wealth and then you can do whatever you like. (buying a home, car whatever) Since bitcoin goes always up in the long term because of its limited supply, this is a foolproof way of making money. Don't be fooled just because btc has been going sideways for a while, it will shoot up again after the next halving.

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.

The most popular way of doing it is Dollar Cost averaging or DCA. Basically, buy some BTC every time the price dips. Doing this in the bear market is obviously stressful so you gotta doing it while the bear market is over and has calm down already.

If you are a trader you already know how to check it on a weekly scale where to bottom is somehow calmer and we are about to jump up.  This is the time when an investor planning to DCA makes a huge profit.

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.