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As a typical Nigerian, we surpose know how we country dy be wen issues like this dy on, so I just say make I update people on one or two things them need to put in place before the protest start.
* Try get enough food stock for house: we know say the country wey we dy no dy friendly especially times like this, so I dy advice make we try get enough food stock for house already before the protest start, because things can go ugly, and price of things fit skyrocket, due to lack of supplies, so the wise thing to do now na to buy enough food keep for house before the protest start.
* Try withdraw enough cash : we all dy very aware say banks no go open throughout this period, so in other to be on the safer side, and to avoid pos wahala, na to get enough raw cash at hand before the protest start.
* Try fill your gas : to avoid story that touch during this kind time, e dy very important to say your gas dy fill already, because most gas station, if not all no go open, so to avoid all this wahala, na to prepare urself before the protest start.
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I'm thinking of the situation from the current price level. Because if Trump does create a Bitcoin Strategic Reserve on 2025, and that does start a Domino Effect of adoption, then I believe the next large DIP will be in a price that surged to something higher - to the DIP of $150,000. If that's true, then why should we wait for a DIP from the current price?
Well, the market is unpredictable right from the beginning but if anything can influence the price of Bitcoin it really means that now is the perfect time to keep on accumulating Bitcoin aggressively because from this current price range, accumulating up to 0.01 BTC (or more) right now would not be bad (depending on the investor actually). So that ones Bitcoin skyrocket to $150,000k there will be a lot of profits on our portfolio. However, it would be better if an investor take the advantage of the DIP, no matter how how much Bitcoin DIPs it's important to see that as an advantage to buy more, because no body knows if the next bear will be another ATH. There is no much risk on Bitcoin investment, the only thing I see as a small risk is just the fluctuations of the price, but I have believed that in as much as Bitcoin is concern, no matter how the price is low it will definitely increase again. Yes, price fluctuation is the nature of Bitcoin, Bitcoin has been a highly volatile coin since its inception. A look at Bitcoin's history shows how volatile it is, but no matter how much it fluctuates, from time to time Bitcoin shows a pump and breaks all-time highs. So fear not, no matter how much it dumps, in time it will definitely cross 120K with one pump. And at that time, those who panicked and sold holds during the dump will regret it. So believe in Bitcoin, and no matter how much the price goes down, you just keep buying and holding. Holding Bitcoin is risk free, and selling on fear is high risk. So hold without fear, there is no risk in holding, rather it will give you more profit. Yes I totally agree with your opinion, Bitcoin is absolutely risk free in terms of holding. Because a few days ago Bitcoin did a dumping, many people may have sold their holding because they thought it was a high risk. But those who held and still bought, they already got them back and because they invested more during that dumping, they got more returns. In that case it is understood that for them it was not a risk but it was an opportunity. Because Bitcoin has already recovered, and this happens all the time, we can definitely profit from Bitcoin if we can fully believe that no matter how much Bitcoin is dumping it will be pumping. Because Bitcoin has come this far today. And its current price is above 66K. Hopefully it will cross 70K again very soon. What you said is not that bad, but I totally disagree with what you said, which is Bitcoin is absolutely risk free, which in my own opinion it's misleading, especially to someone new or a total novice, I know that due to the potential of Bitcoin, most times people forget their self and get carried away just as you are doing now, but I want you to take note to the fact that Bitcoin investment is as risky as every other investment out there, so don't think that once you invest in it, you are 100% sure that you will be successful. |
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Yeah, but so what? You don't need a lot of capital to either invest or to trade in bitcoin. Sure, the more capital you have the more advantaged you will be, yet bitcoin gives you a lot of opportunities, even without large capital, and you work with what you got. So many times, poor people whine about how they would be so much better off if they had more capital blah blah blah.... and those seem like waste of time mindsets.. since you can both ONLY work with what you got, and yeah, it is obvious that more capital provides more options.... yet at the same time, there are opportunities, right here in front of all of us, to invest or trade in bitcoin without much capital at all. You can start with $10 or $100 or even $1k is not a lot of capital and figure out your strategy from there. Don't get me wrong. Even though I mention trading, I surely am not much of an advocate of trading, especially with bitcoin and especially that there may well be way better ways to make money to invest and to build the capital that you have in your investment portfolio... and it going to tend to take a long time to build up an investment portfolio, whether you trade or not and whether you get income from a variety of sources, especially if you are starting out with low capital.. so yeah in some sense I am agreeing with you that it is better to have more capital, yet that is an obvious point.. and not even hardly worthy of being discussed since it is so obvious.. ... and yeah there could be some folks who are able to make more from trading than they would with any kind of a regular job.. but yeah, we get back to a certain kind of point that the investment portfolio (or trading portfolio or combination of those) needs to be built up if there is some kind of expectation that income from the investment and/or trading portfolio are going to pay for the person's living expenses in part or in whole, depending on what kinds of income such person might have from other sources... These are all in need of calculation for any investor and/or any trader.. Most folks, maybe even close to 90%, will not really be able to make money trading that would be sufficient to pay for their living expenses and still be able to invest or to maintain their investment or to maintain principle in their trading account, so these can be both complicated calculations, and also calculations that have quite a bit of individual variability that specifically relate to the person's 9 individual factors. What is the essence of DCA if we can't start investing with the little amount we have. Anyone who complains about how much to start investing doesn't want to invest at all. They are procrastinating and would never buy even if they are rich. The solution has been there through DCA. It will allow beginners or old investor to slowly increase their portfolio while taking into account the inevitable fluctuation in the price of Bitcoin. No doubt that it is important to have capital, but would you rather wait for you capital to expand before starting an investment and staying committed to it. I would understand if one knew that he can't keep up with the investment once he starts because the income is not a steady flow because he will lack commitment. Such person could possibly decide to wait until it becomes steady. Because one thing is to start, and the other is to maintain consistency and commitment in investing at the right time we choose to. What you are saying is very much understandable, but have you considered those low income earners, those set of people that barely feed three square meal a day, how would they squeeze out something to invest when they can't even feed properly, and even though they manage to, with time, due to how things are difficult for them due to their poor income, they will still falls back to their holdings because they can't save anything out from there current monthly income due to hardship, so most times it not just about procrastination that has made some people not to have invested in Bitcoin, sometimes it's due to poor income, because am very sure that if your primary needs is not taken care of first, you can still invest, but you will not be able to hold firmly. |
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The three things you talked about is very good and essential for the growth of an individual if it's utilize properly, but to be honest, if you don't have Patience, you are going to miss out of so many good things of life, so patience is really a virtue someone must have, in other to succeed, because good things takes time, and if you aren't patient enough to wait, you might miss out.
Another thing that I feel like should be added to your list is focus, as an individual that really want to make it in life and really want to stay at the top, being focus on your goal is very important, if not l, you might miss out due to distractions around us.
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This method is especially useful for those who cannot afford to buy a large amount of bitcoins at once but are willing to invest in bitcoins. Only they can invest in this method and buy bitcoins in small amounts and hold it according to their specific goals.
I cannot completely agree with you. Because, as far as I know DCA method works for everyone and all types of people can invest in this method. DCA method is considered as ideal investment method for small scale or large scale investment. DCA approach reduces the risk of loss in the long run. I agree with your sentiment here, the DCA accumulating strategy works mostly for someone that has the intention of holding for a very long period of time, because since you are buying in different price interval, you wouldn't reap the full dividend of it,, if you aren't a long term holder, so as we are still in the early days of Bitcoin, any buying price now will be very much ok, but in the future, when Bitcoin has already skyrocket to one million dollar, the DCA accumulating approach wouldn't be that idea again, so I urge all Bitcoineer to seize the opportunity now and utilitize the DCA accumulating strategy now that it's still effective. |
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