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The main thing in investing in Bitcoin is not waiting for a dip but preparation. Waiting for a dip means that you are still unprepared. If you can understand how much money you can save by calculating your income and expenses. If you have an emergency fund of three to six months, then you are ready.
In that case, if you wait for a dip, you will be behind others. Later, you will only regret seeing others. So, do not waste time and keep investing little by little in the DCA method. You may not see any change for the first one to two months, but you will see a great change in your life within four to ten months.
And after going through a few cycles in this way, you will enjoy a good portfolio.
Please be careful when writing posts, because this kind of mistake can confuse newbies, one cycle of Bitcoin = 4 years, and you must decide to hold Bitcoin for at least 4 years/ 1 cycle, and you can hold it for 2 to 3 cycles according to your ability. And besides, if you are talking about 4 to 10 months, then I do not agree with you in any way, because this is a short-term trading attitude, it is very unlikely that we will see significant success in our investment in 4 to 10 months, we should definitely think of it as significant success after at least 4 years. Bitcoin investment is a long-term investment and it should only be bought continuously. But if you only wait for DIP to buy, it will only miss the opportunity, and you will only fall behind from the investment, because If you keep waiting for the right moment to invest, then you will also lose the opportunity that already in your hands. Therefore, the most correct decision in the case of Bitcoin investment is to invest through DCA, keep buying regularly from discretionary income, so that your Bitcoin will continue to accumulate at an average price, it is necessary to keep an emergency fund to keep the investment safe in the long term. Don't have a short-term mindset here, invest in Bitcoin for the long term, then you will have the best chance of success. |
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Yes, life is about probability. Everyone is waiting for something good. But if you want to compare investing in Bitcoin with other investments, then I would disagree.
We can invest in different things. Gold, silver, diamonds, land or shares of good companies, etc. Many people invest in these things with the possibility of a good future. But many times they do not get the expected profit. But Bitcoin has been in the same shape since its inception. Everyone knows that the price of Bitcoin goes up and down. It is possible to make a profit if you invest in the long term. If someone invests in Bitcoin in the short term, there is a possibility of making a profit, but most people will lose money. But if someone invests in the long term, then over time he will definitely make a profit. So even knowing the guaranteed profit, if someone does not want to take the risk of investment, then his life will be spent on probability, he can never be sure.
All in all, I am saying that although life is full of possibilities, but I see investing in Bitcoin as a sure thing in the long term.
I can't agree with you at all, you say you see long-term investment in Bitcoin as a sure thing, but how is that? Where do you get the assurance that Bitcoin will definitely give you profit in the future? The reality is that it is only a possibility, you manage everything correctly, you hold Bitcoin correctly in the long term, and you manage everything correctly, but also even then, you will not get any kind of guarantee of future profits. There are risks everywhere, and Bitcoin is no exception, but you say " if someone invests in the long term, then over time he will definitely make a profit.", this is completely wrong, yes, its potential in the long term is huge, but calling it a "guaranteed profit" is very wrong. Bitcoin is not a place of guaranteed profit, Bitcoin investment is always a mix of risk and possibility, so you have to manage your investment based only on bitcoin future possibility, you should consciously accept the risk and then invest in Bitcoin, but seeing long term bitcoin investment as an absolute guarantee of profit, it can create a misconception, so first understand Bitcoin. |
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There is definitely a point to getting rich but you have to go through stages. Everyone has the desire to suddenly become rich but it is not realistic. You have to first realize how much you are actually capable of. Consider your income and how much Bitcoin fraction you can buy per week from it.
The beauty of Bitcoin savings is that it is great for people of all incomes. If you can afford more then the amount of savings should be more and if you can afford less then the amount should be adjusted accordingly.
It is true that people always want to get rich fast, but life doesn’t really work that way. With Bitcoin too, it’s about taking it one step at a time and sticking to what you can actually afford. If you earn more, you can save more, and if you earn less, you just save what you can.....That’s the good thing about Bitcoin, it works for everyone. Even small amounts add up over time if you stay consistent, and that’s really where the progress comes from. That's what people really cares about they wanna get rich in a second not knowing that nothing good in life comes that easy you must under go a certain process to enable you attain your goals. Haven't said that, when it comes to bitcoin investment it doesn't really matter if you are either rich or poor, it all depends on how serious and determine you are, you can start up with your little earnings is just for you to have a basic knowledge about it then be able to figure out your discretionary funds then you are Kool. furthermore being rich as an investor can always play a significant role in bitcoin investment no doubt, but that doesn't mean that the poor have no say in bitcoin investment not when we always have dca method. Success never comes overnight, similarly it is never possible to get rich overnight from Bitcoin, here you have to be patient and hold Bitcoin for the long term, here only by holding on can you achieve good success. Not only Bitcoin but also to achieve any big goal, you have to maintain time, patience and the right mindset. We can never achieve anything good by rushing, so you should never expect short-term success from Bitcoin investment, just start investing here and hold on. Use the DCA method, because through this, your income amount or investment amount does not matter, rather whatever your investment amount is, if you keep investing continuously through this strategy, then it will keep growing with time, so there is no need to look at your financial situation, you do not have to invest a large amount of money at once, but keep buying continuously, no matter how small it is according to your ability, this is the biggest advantage of DCA. Not everyone can aggressively invest large amounts of money, but everyone can easily invest in Bitcoin through DCA and it can create a strong foundation in the long run. |
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I think it is better not to buy Bitcoin every day, because poor people can never buy Bitcoin every day, and Bitcoin is worth $114000+ every day because no one except the rich can buy Bitcoin every day, and he said that the entire Naira salary he gets in 1 month or 1 week is for household expenses, but he can do one thing, if he saves a little Naira every day, after 1 year that Naira amount will be a lot, then with that Naira in one go for 5/10 years! After that, he invested the amount of Naira he has and bought Bitcoin for 5/10 years, after that he will get a good profit!
Your comment is very misleading. For example, it is never right to wait to invest or to save money to invest is also never a right decision. If a poor person wants, he can also buy Bitcoin every day. It is not necessary to be rich to buy Bitcoin, a poor person can also invest. If a person has a source of discretionary income, then he can continue to buy continuously by adopting the DCA method depending on his discretionary income. For example, If a person has a source of discretionary income and if that person wants to invest $ 10 or $ 5 every day, a person can invest depending on his financial situation. If a person waits to invest and saves money, then that person may lag behind a lot. For example, if a person saves money for 1 year, today's price and 1 year later's price will never be the same. So the DCA method is the best for investment.I agree with you ,the kind of mindset a person has will determine if truly he is eager to invest in Bitcoin. Been poor isn't a barrier,it all depends on the individuals mentality. A person with a discretional income of $5 can still invest in Bitcoin with the DCA Strategy. Infact this is the more reason the DCA Strategy is seen as the Best strategy used to accumulate Bitcoin because it is the most convenient use strategy so far. DCA Strategy have made investment in Bitcoin stress free and less expensive for everyone. A person with a low discretional income of $5 can be buying Bitcoin bit-bit, depending if he has a steady flow of discretional income,he will be consistent & persistent in accumulating Bitcoin for the long term. Many people have the misconception that they need to have a lot of money to invest in Bitcoin, but the reality is that because of this wrong mindset, they often never start investing, so the mindset needs to be changed, the amount of your discretionary income is not important, only if you manage your investment consistently, then it can bring you very good and effective results. It should be remembered that poverty is not a barrier here, but whoever has the right mindset, regardless of his financial situation, he will arrange a discreet income for Bitcoin investment in any way and start investing, for bitcoin investment here is needed the will and mindset and faith in bitcoin, then it is possible to invest. |
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You are absolutely correct, in any business or Investment in life one should always set a target or goal before any other thing but setting a goal and target sometimes is not what matters the most rather what matters the most is you working persistently and very hard to achieve that goal or target. I believe everyone in this world has dream, target, goal etc but some are unable to get it and the reason behind this is because they are not consistent, they are not working towards it though some are working but they are not working harder because at some point you need to stretch yourself because nothing is easy so we should try as much as possible to work hard after setting and defining our goal.
It's very important to stick with your target no matter what Bitcoin price is. Like if you are accumulating at current price of 109,000$ and your target is Bitcoin price of 500,000$, then you need to have control over emotions when Bitcoin hit 200k, 300k or even 400k. We have recently seen few instances where Satoshi era wallets have sold there Bitcoins at staggering high rate of 120k$. The point to be noted is that these whales have not sold there Bitcoins at 10k nor at 50k but they waited for Bitcoin to touch there target price. Before starting to invest, we need to set a specific goal and cannot sell Bitcoin investment until that goal is reached. As an investor, we need to hold Bitcoin with intelligence until we meet the specific goal in a disciplined manner, and no matter how low or how big Bitcoin falls in the meantime, we can never break our goal and sell Bitcoin, then this can be the reason for missing out on a bigger opportunity. We can never decide to sell our holdings due to temptation or panic, this is definitely wrong, we must stick to the goal we set, and ignore all obstacles, instability and greed. Those who can stick to their goals and decisions can ultimately benefit the most, so set a specific goal in Bitcoin investment, such as at least 1 cycle or 2 to 3 cycles or more, acording to your ability, and sell after reaching that goal, but before that, no matter what the situation is, the decision to sell cannot be made. |
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I have not put my private key in the possession of anyone but if anything happen to me today, my siblings would definitely have a full access to any of my crypto assets. If I get married today, depending on the guinness of the woman, that's only when I can keep my crypto assets in her possession too but if it's not good enough, I would rather keep track of it to my kids. Just as people care to transfer their lands or house or money to their next of kins, people will proper knowledge of Bitcoin and crypto are also making effort on ways to let their coins be accessible to his loved ones if anything happened to him.
Life is uncertain, anything can happen to people at any time, so we cannot ignore this issue in any way. When I keep the keys to my Bitcoin wallet only with myself, and if something happens to me, then no one else can use these Bitcoins, that is, my family will be deprived of this wealth, and for this reason, since life is uncertain, we must have a reliable backup, it must be the most reliable, so that he does not want to snatch your Bitcoin from you while you are still alive. You must choose someone reliable among your wife or children, so that if you are not there, he does not create any trouble with your wealth, we often see that many people cannot handle the greed for wealth, they want to have everything themselves, and this happens in every family, just when an old parent divides the property among his children, in most families there is a quarrel between the children, because everyone only wants to get the best of everything. These things are very natural, so we should write down specific instructions for this so that in the future there is no confusion if there is any unwanted situation, and no one is deprived of this wealth. Since life is uncertain, you must have someone you trust as a backup for your wealth, because if there is no backup for this wealth in your absence, it will be lost forever in the void, so you must be careful about this. |
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The rich people have more advantage than the poor. They rich will keep on making more money because they have the capital to start with. The poor have the mindset and investment strategy but the fact that they do not have the capital to start they will remain poor. Even in life the poor can not compete with the rich because they don't have what the rich have.
Rich people will making profits from Bitcoin investment but the poor will only make a little profits because they can not invest and forget about the invest, that is why the poor can only invest for short term. The rich can invest in Bitcoin and forget they invest because the set a goal, a target they want Bitcoin to reach because they can think about selling from their Bitcoin portfolio. Everybody have the choice to invest in Bitcoin but the rich have more advantage because they have a lot of capital to start.
But here willpower, skills, strategy and the right mindset are very important, a poor person will not always be poor, if he keeps working hard to move forward using his skills and can start everything strategically, then at some point he will also achieve success. Everyone comes from nothing, those who can use their skills properly and make effective decisions, they can definitely achieve success. If you give a lot of money to an unskilled person, but he does not have enough knowledge to use that money properly, then he will lose that huge amount of money in a very short time. So if you have skills and no capital, success cannot be achieved, this is completely wrong, he has to create capital through skills and from that capital he has to start, everything has to be achieved step by step, success can never be achieved overnight, so one has to be patient and have faith in oneself. To achieve success in life, one must work hard, everything is possible to achieve if a person wants and has the will power. |
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Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?
The reason why am asking this question is because with the right approach I think this can also be done and even help you get good value of bitcoin when the price dip but there are conditions that would prompt you to actually sell some fraction of your investment.
Let's say your investment has reached the amount of years (5+) you set for it and it's now time to sell with the motion of selling being tied to the fact that the upcoming season is probably going to be the bear market, isn't it going to be a good move to actually sell portion of your portfolio (not all) and then still continue with your steady buying and as you are running your normal DCA you are still active on the bear so that when the dip comes you can buy back with that sold amount from bitcoin portfolio so that your value of bitcoin is bigger and still go on and continue with your investment plans.
I still don't think it's a good idea to sell your Bitcoin with intention of buying them back later. Those who follow this strategy will only get few bucks of profit and they deny themselves from the real profit which Bitcoin gives in the long run. We are not sure when bull and bear season will start and end. Even if you are accumulating Bitcoins for last 5 years there is no way you can ascertain that when bear season will be starting. Our first target must be to be gather enough Bitcoins and that requires considerable time. Once you have enough Bitcoins and you think you are getting enough profit then you might think of shorting some. But that will require at least 10 years. Repeatedly selling and then buying when the price drops again, this is trading, those who keep this kind of thinking in mind, they will never be able to achieve real success in Bitcoin. Those who have this kind of buying and selling mentality will most of the time face more losses, because the market will never move according to their expectations, so you will have to face unexpected losses. The real power of Bitcoin is actually revealed over time in the long term, it will behave unstable in the short term, no one can say when and in which direction it will go, but from the perspective of being in long term, only then will we understand its real profit. Decide to hold at least 1 cycle of Bitcoin, you can hold 2-3 cycles according to your ability, the more you can hold, the better success you will achieve. The market will never make you rich overnight because it will never suddenly become bullish like you expect, it grows over time, that's why we must maintain a long-term mindset here, those who can understand Bitcoin and believe in its potential and hold it for the long way, they will ultimately be the real winners.  |
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I get you Proty, and of course, I’m not denying that having an emergency fund in life is important.. Everyone needs something put aside for unexpected events. But this particular discussion is about Bitcoin, and that is why I don’t agree with putting the emergency fund before actually owning any Bitcoin at all. The truth is, the first real step is to start stacking, even if it is very little.. you should not delay by saying let me first save this, let me first prepare that and by the time they’re done planning, the market has already moved.. the people who gained the most from Bitcoin are those who actually started, not those who kept waiting for the perfect moment..
So in my view, the smarter move is to get into Bitcoin first, even if it is just $20 or $50 a week. Once you’ve started building your bag, you can then think about balancing it with other financial tools like an emergency fund. But delaying investment completely just because of that will only hold you back. Bitcoin does not wait for anyone you either start stacking now and grow with it, or you keep postponing until the opportunity passes you by…
For someone with discretionary income that doesn't have an emergency funds, they shouldn't be deter from buying bitcoin simply because they don't have an emergency funds. They can be buying bitcoin and at the same time while working on getting an emergency funds,this can be achieved by investing a certain percentage of our discretionary income into bitcoin and the remaining percentage to our emergency funds. However, emergency funds is essential for everyone both those that are investing in bitcoin and those that are not investing in bitcoin since since unexpected events can happen to anyone. Emergency fund is equally important in every person's life, its importance cannot be ignored in any way, because it is considered the only way to deal with unexpected financial situations. Its protection is necessary for long-term holding of Bitcoin, because people's financial situation or daily lifestyle never runs parallel, unexpected situations come very naturally in every person's life, and if a Bitcoin investor does not have an emergency fund during that unexpected situation, then he may have to decide to sell his Bitcoin holdings as a last option, as a result, his investment will fail, and also ho fall a big losses, so an emergency fund must be prepared. Now the point is that, It's not that you need to prepare an emergency fund just because you're investing in Bitcoin, whether you invest or not, it will be essential for you, because if you think about it a bit deeper, if you do not have an emergency fund and at the same time if you do not have any investment, then what will you do in the event of an unexpected situation? Because you do not have any financial system, so you will have to face greater danger at such a time. So whether you are an investor or not, ultimately an emergency fund is essential for everyone because life is uncertain and not everyone's financial situation will always be stable, you can lose your job at any moment, so you have to consider all aspects, unexpected situation comes at any time, so security should always be ready. |
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Yeah, Bitcoin is not something you drag people into, it is something they need to make up their mind about, something that the personally have the interest to understand and commit to. We all know that bitcoin or should I say investing in bitcoin requires lots of patience and risk tolerance, and not everyone has these qualities, which might actually make it difficult for them to invest in it. If you eventually succeed to force someone into investing in bitcoin, it will mostly end in resentment shooting in case the market takes it downturn. And that is why it requires someone who has already made of the amount to invest and who has also understood how the bitcoin market works.
The worst thing anyone would do is persuading someone who doesn't have an understanding about Bitcoin to invest in it without proper knowledge and understanding of what Bitcoin investment is all about, it would definitely go wrong cause the market is volatile and most people don't know that it requires patience and consistent investment for their money to gain value and would likely panic sell when the market is down or sell for profits in a short period, Bitcoin investment is for those who are willing understand it's concept the see an opportunity that comes with the risk and seize it. It is definitely not right to do this, when a person invests only on the basis of excitement, he can easily sell in panic during times of instability, in the case of Bitcoin investment, it is definitely necessary to understand, you must be knowledgeable about Bitcoin, not completely, but you must gain this amount of knowledge so that you never make the wrong decision. Bitcoin is a volatile asset and to invest here, you must maintain a long-term mindset, now if an investor does not have sufficient knowledge about bitcoin, that is, if he cannot fully trust Bitcoin, then during times of instability he can very naturally think that Bitcoin may now go down a lot and never come back, as a result he will panic and sell his holding even at a loss. But when he has gained sufficient knowledge about Bitcoin before investing, he will be able to control himself during times of instability and he can maintain the mindset of buying more without being afraid of instability. Therefore, to invest in Bitcoin, you must acquire knowledge about Bitcoin and maintain long-term mental preparation, because there will always be volatility, but only those who can sustain themselves during this volatility will be able to achieve real success. |
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Those who basically spend 80 percent of their income on basic family expenses. If they start investing without creating an emergency fund and suddenly their expenses increase and they fall into a financial crisis or disaster, they will not be able to maintain their investment.
People's income and expenditure are not fixed. Some people have much less expenditure than their income and some have much more expenditure than their income. However, normally those who have a discreet source of income may have an expenditure of 70-80 percent of their total income. The money left after expenditure is basically discreet money which is needed for investment. Now, there is no need to deposit this discreet money in the emergency fund at the beginning, especially for investment. Because your investment fund has not become valuable yet. So there is no need to pay much attention to the emergency fund at the beginning, rather you try to pay attention to investment at the beginning. Emergency fund becomes important for you after starting investment. If your discreet income is very high, then you can also focus on building an emergency fund along with investment. Remember, there is not much need to buy rope before buying a cow. So delaying investment to build an emergency fund will not be the right thing to do. These isn't much difference between people who are building up their emergency funds instead of investing and people who are trying to understand and know everything about bitcoin before investing, at the end of the day both parties are wasting valuable time contemplating on irrelevancies, at the end of the day building an emergency fund is important but you should not be doing so at the expense of you bitcoin accumulation, instead do both side by side, the only reason a person bitcoin accumulation should be delayed is if they do not have the discretionary income to continue investing, in situations like this it's best to first put your financial standing in order so as to avoid having to sell too early. I will never be in favor of delaying investment for anything, first of all you have to start investing, if you have discretionary income then start investing immediately and then prepare everything, all the necessary things including emergency funds, but start investing first, investment is a long-term asset, it must be held for the long term, but where you suddenly need money unexpectedly, but then if you do not have emergency funds, then you will be forced to sell at the worst possible time, and that will be the reason for your Bitcoin investment failure. So creating financial stability is also very important and taking the necessary steps to keep the investment safe, but first of all start investing. |
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This is why the DCA strategy for Bitcoin accumulation is very simple and effective for long term. The term accumulation refers to a small amount that gradually increases in size when we consider it as an investment and an investor with a small income can build a large investment stack of Bitcoin by accumulating a small amount of Bitcoin.
DCA is a smart investment plan, by following this process consistently, it is possible to build a large investment stack in the long term by gradually accumulating small amounts of Bitcoin. By following the DCA process, a person can easily accumulate Bitcoin, for which there is no need to invest a large amount of money at once, thus there is no additional stress on the investor. A person gets the opportunity to invest the small amount of money remaining after fulfilling his basic needs, which cannot be done in the case of any other valuable asset. By investing our valuable money in the right place, it is possible to avoid inflation in the future. DCA is a strategy that keeps investors free from psychological pressure and is the most effective way to accumulate wealth in the long term. It is very natural that many people hesitate to invest large sums of money at once, get scared due to market fluctuations, and overall they cannot maintain their investments effectively, but in DCA, you have to invest small amounts gradually, and only invest the amount of money that you can afford to lose, then you will never hesitate or face financial problems due to market volatility, because he is only investing with what he can lose, so he can easily maintain it for the long term. By proceeding in this way in a planned manner, your investment portfolio will continue to grow stronger and stronger, and if you can maintain this process for the next 2 cycles, it can give you something more big, that you may never have expected. |
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I had a conversation with someone outside this forum and my choice of topic "Must everyone invest in Bitcoin" was his question, it's a nice question for someone that's willing to know about Bitcoin so I decided to bring it here to know the opinion of members of our Local board.
Well my own opinion and reply to him is that it's a matter of choice, Bitcoin investment is not forced on anyone, yes anyone can invest in it but must be willing and should have the necessary requirements to do so, moreover it's not the only investment option and there are lots of others like Real Estate, Gold, Stock, and even Commodities like agricultural, petroleum/natural gas, livestocks etc.
However since Bitcoin is a modern form of investment, the best digital asset and has become a very reliable asset that can generate good profits for long-term it would be nice to seize the opportunity of investing in it as it's still very early compared to when the price would go higher in the future, hopefully.
Investing in Bitcoin is a personal choice, and what I believe scares most people from investing in Bitcoin is how digitally it operates, many people don't understand digital assets, which makes them fear that they would lose control of their assets or that they might be scammed. Looking at these individuals they will hardly invest in Bitcoin, it will be more beneficial for them to choose other investments if they truly understand how it works. But, to be honest, if everyone understands how Bitcoin works, I think they'll choose it over other investments. This is because other options are riskier, and Bitcoin's accessibility is really convenient. When people can overcome these unnecessary fears and truly understand Bitcoin, then they will definitely be able to survive in Bitcoin investment. If they truly understand the real possibility of Bitcoin's future success, then it will seem like a much more reasonable option to them fir the future success. So, you need to know Bitcoin and learn about Bitcoin. Try to understand the real process without being unnecessarily scared. Bitcoin is a long-term asset. So, you just have to keep a long-term mindset here. Then it is possible to achieve much better success from Bitcoin in the long run. |
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Razed Username: Asloveapg
My Prediction: $114,255.77
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Please read the rules, the rules clearly state that each user can submit a maximum of 7 entries, but you have already submitted 9 entries. - Each user can submit up to 7 entries.
During your 8th entry, you were warned, but you made the same mistake again, please try to do everything according to the rules. |
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The idea of borrowing to invest in Bitcoin just sounds like placing yourself in double risk, because not only are you relying on the uncertainty of the market, you are also dragging in a liability that must be serviced whether profit comes or not.. People forget that Bitcoin does not move at our command, it does not care if you borrowed or not, it will do what it does and if it decides to dip for months, the lender would not care that you’re still HODLing, they’ll want their money back. That pressure alone can make someone panic sell at the worst possible time, losing both the Bitcoin and still being stuck with the repayment stress..
Another thing is, Bitcoin in its real sense is not even designed for quick money rescue missions, it’s more of a long term preservation tool. When you look at people who succeeded big in Bitcoin, it is mostly those that bought with money they could forget about for a while, not money they needed back next month. Borrowing for such an investment is like planting a tree today and hoping to chop it for firewood tomorrow, it just doesn’t work that way. Even if luck shines and it pumps right after you borrow, that gamble is not sustainable as a strategy, because the same market that went up in your favor can just as easily dump next time..
In my opinion, the smarter way is to always use disposable income, the kind of money you would not cry over if the market takes its time. That way, you give yourself peace of mind and also allow Bitcoin to do its natural growth over the years without forcing your hand. The truth is, investing should never put you in a corner where you are sleepless thinking of how to balance a loan. It is better to miss a move than to force it with debt, because another opportunity will always come. Bitcoin always have opportunities, but your financial peace of mind should not be gambled away just because of fear of missing out…
Although it might look tempting to borrow and jump into Bitcoin, the real issue isn’t just about whether you can repay the loan, but also what kind of mindset it builds. Borrowing makes people treat Bitcoin like a get rich quick scheme because there’s pressure to see fast results. That goes against the whole idea of Bitcoin as a long-term savings technology. If every dip starts to look like a threat to paying back a loan, then the person isn’t really investing anymore, they’re gambling with borrowed time. The real strength of Bitcoin comes when you buy with calm money, the type you don’t need for survival or obligations. That’s what allows someone to hold through cycles without fear. Even if the market stalls or drops, there’s no creditor breathing down their neck. Borrowing might get you in faster, but it also sets you up for panic decisions that erase the very benefits of holding. it’s better to grow slow with your own spare money than to rush in with debt that might choke you later. Bitcoin is not going anywhere, and opportunities will always show up again. True, a solid advice. A lot of people get carried away thinking Bitcoin is a race, so they throw in borrowed money meant to be used for their business which they can’t really afford, and when the market dips, it starts choking them. Instead of enjoying the process, they will be panicking and be stress out, and sometimes even sell at a loss… I will say taking it slow with just your spare cash makes the whole journey way easier.. No pressure and sleepless nights.. Bitcoin isn’t disappearing anytime soon, and new opportunities always come around… And this is the wrong mindset, Bitcoin is not a get rich quick scheme, so the mindset that you can get rich overnight must be withdrawn here, many people buy Bitcoin beyond their means in the hope of getting rich quick, because they think that they will be able to profit from it very soon and pay off their debts, but this never happens, rather they face more danger as a result of making such a decision, because Bitcoin behaves the opposite of their expectations, that is, they expected Bitcoin to increase but due to volatility, the price of Bitcoin has decreased, so they sell their Bitcoin holdings at a loss. So the first thing is that this is a long-term investment, so you must invest money here that you can hold for a long time without any problems, there may be a sudden fall due to market volatility, but at that time you cannot decide to sell your holdings in any way, because these will recover after some time normally, besides, unexpected situations can come in people's lives at any time, and because of this, you must prepare an emergency fund, so that during unexpected situations, your Bitcoin holdings can be dealt with without damaging those unexpected situations. In general, try to strengthen your source of income, keep buying Bitcoin consistently from discretionary income, Keep an emergency fund ready for unexpected situations, and manage everything properly, just keep buying without worrying about the price, volatility is only short-term, but in the long term Bitcoin can become much bigger than we expect, so allow yourself to invest for the long term, those who hold Bitcoin long-term with patiently, they can get the results of their patience to a much greater extent. |
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Investing in the DCA method is definitely the easiest and most effective strategy, which provides the most benefits compared to other strategies. Maintain a stable investment continuity, and never worry about the price of Bitcoin. By gradually accumulating Bitcoin in small portions, a strong portfolio is created over time, and this is why the continuity of investment is most important. But you must refrain from worrying too much about the volatility of Bitcoin, because if you pay too much attention to it, you can easily get scared due to the volatility, which can lead to you making the wrong decisions. So, just keep buying regularly without looking at the price, then you will definitely have the possibility of achieving something good.
DCA is very smart way to invest in Bitcoin. Main idea of DCA is simple you invest small set amount of money regularly without worrying about price. This way you buy more when price is low and less when it is high which helps to even out your overall cost. This method works so well because it removes emotional part of investing. With always buying at steady pace you avoid making bad choices that come from fear or greed and instead of this you build strong investment over long period. We can discuss the importance of DCA method every day and never quite exhaust the topic, so we cannot overemphasize the importance. Most people are not super rich and we have numerous expenses that surrounds the income that we earn. If we don't make adequate provision for discretionary funds it'll be very difficult to achieve our long term investment goal and that is where DCA comes in. Inorder to be consistent in buying and hodl for many years you need to structure your income where a percentage from your discretionary funds will be going into buying Bitcoin. To make an investment in Bitcoin effective, it is necessary to maintain the continuity of the investment, a certain part of the income must be invested in Bitcoin regularly, without any concern for market fluctuations, most ordinary people are not rich, so it is not possible for everyone to invest a lot of money at once, but everyone can invest any amount from their income continuously if they want, which is the amount left over after meeting all their expenses, now there must be a desire to do this. Whatever the income of people, they will be able to meet all their expenses and find an amount that they can run their daily lives without any problems. The best decision is to decide to invest through discretionary income, because the cost of living will always increase and our wants and needs are endless, so to invest in Bitcoin for the long term, you must have a discretionary income arrangement, no matter the amount, if you invest a small portion of your income in Bitcoin consistently with discipline, it will continue to grow over time. |
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