Buy Buy Buy or Sell Sell Sell?

[Kelward]

It is important to have a financial plan in investment. And we know that we should definitely invest with that money that is not essential for our lifestyle, that is, the money that will not affect our daily life if lost. There are many people who invest but they do not leave any money for emergency expenses and invest the money for basic needs, due to which a financial crisis may arise and they may not get money even in an emergency. In such a situation, they may be forced to sell. Bitcoin has the potential to increase in value in the long term, so it is important to maintain a long-term mindset in investment, many people lose patience. Finally, it is safe to move forward with patience by keeping a long-term mindset regularly through proper financial management.

We need an emergency fund with discretionary income to invest.

We will face problems at some point even if we invest using money that we can afford to lose. The amount of money that we can afford to lose should not be used for investment in its entirety. The remaining amount after deducting all expenses from our cash flow is called discretionary income. We should keep some amount of that money aside in an emergency fund. If we ever face any financial crisis, we can get out of that fund. But if we do not have an emergency fund, we will have to sell our investments. So in your words, it is important to take out an emergency fund from that money and invest it for the long term, rather than using money that we can afford to lose.

You're getting it wrong, if you understand financial management you cannot use your emergency funds to invest in Bitcoin, it doesn't make any sense, emergency funds should be for emergency purposes only which Bitcoin is not. To be qualified to enter into Bitcoin investment you need to make sure that firstly your income covers your essential needs like food and rent. You need to have discretionary funds where none essential or basic expenses falls into, it is from there that you can remove funds for unplanned or emergency occurrences like accidents. It is also from your discretionary funds that you will remove money for your DCA accumulation and other short term financial plans like giving your family that deserved treat.

[SmartCharpa]

Some people think that monitoring the market is done by traders, Real investors do monitor the market too but he is not doing that with the mindset to buy bitcoin when the price is low, he is always buying with the DCA strategy why they do cheek those market trend at times is to know when they can buy more bitcoin, some times they want to accumulate more bitcoin at a lower rate when bitcoin is dip so monitoring the market isn't bad as some persons may think, i think when it's bad is timing it to only buy when the market has drop than the one can be seen as gambling and it isn't good.

Monitoring the market is not bad but many times it is seen that when an investor is monitoring the market, he may fail to maintain his holdings sometimes. Because he may panic while monitoring the market. Since the Bitcoin market is volatile. If an investor adopts the principle of long-term investment and follows DCA, I think it is not necessary for him to monitor the market. The price of Bitcoin will never be bullish or bearish, but if he holds it for a long time, the investor will definitely benefit.

Monitoring the market doesn’t add or decrease anything to us investing in bitcoin, which is why I think monitoring the Bitcoin market price is really not important, which is why we should always be more focused in buying bitcoin, someone who wants to invest in bitcoin maybe a newbie or a beginner I think the most ideal thing is to get started instead of watching the market price.

With the nature of bitcoin, I guess some folks would be feeling like they can be Mr know it all, and they will feel they can be ahead of themselves, which I think it’s never necessary when investing in bitcoin, I wouldn’t believe someone coming to me and telling me that they can predict the price of bitcoin in next week or next month, I would say that is absolutely fallacy.

The main goal of investing in Bitcoin is for the future, not to make a quick profit, so why would an investor monitor the market when they understand that the goal of this investment is to grow and we don't have to worry about the market all the time? Monitoring the market price will cause those who lack patience to sell the Bitcoin they hold since they will not be able to endure the market that always changes. So it's better to be focused on accumulating instead of the price.

Sure, we should never believe anyone who claims to have call signals when the market price will dip or rise, those people are traders looking for a quick profit, not long term investors. The most important thing is to invest only what you can afford to lose, as Bitcoin also involves risk because no one knows what will happen in the future.