Waiting for a drop is never the right approach. This will make you miss out on buying. You think that if Bitcoin reaches $90,000, I will buy. If it doesn't, then you have missed out on buying. You can continue to buy consistently using the DCA method, so you can buy at all levels. If you want, you can set aside some money to buy aggressively.
If you are going to hodl long enough - you can buy anytime, and be in profit.
I don't know if as many as possible were able to identify the trend of double top and double bottom and how this has been shown recently on the market performance if we are close on the chart, we would have seen this coming and know the kind of position to take as regarding investment, e high this month or sooner.
Trying to identify or know when will be the double bottom or double top will add no additional bitcoin to your bitcoin portfolio if you are not buying consistently amd persistently with DCA method overtime. This is one of the reason why I love the DCA strategy because it does not make you end up in regret for not buying cheap or for been a low coiner.
A new investor who has zero knowledge about reading charts will definitely benefits from buying at ghe double bottom if he buys with DCA weekly, regularly, consistently and persistently to keep is bitcoin accumulation ongoing for 4-10 years and above. It's when you feel that you are smarter to buy cheaper is when you will miss out from all the opportunities in the market.
Chart is not useful for a brand new investor who is on a long term journey and is only concerned to be buying and buying till he reaches his bitcoin target. Your priority is for you to keep adding to your bitcoin for the future.
A new investor, and perhaps even a person who has been buying bitcoin for 2-4 years would not be advantaged by trying to read the charts, whether he knows how to read the charts or not. Perhaps even the newbie guy who knows how to read charts is more dangerous than the one who does not know how to read charts, since both should be buying bitcoin regularly, persistently, consistently, ongoingly and maybe even aggressively. If the newbie is reading charts, then he likely is not focusing on buying bitcoin including that he likely falls outside of even any possibility to invest into bitcoin aggressively since he is too busy waiting and strategizing rather than ongoingly buying bitcoin.
This would be possible if the person is earning way higher than $60k per year or luckily Bitcoin price drops down to $50k or they would have to increase the yearly intervals they have set to accumulate the 4.5 Bitcoin.
I am not going to presume that the bitcoin price is going to drop... sure it might, but we should not be making our plans based on things that are out of our control.. Yet, each of us should be able to figure out how much of our income that we can put into bitcoin and then therefore how much bitcoin we might speculate that we are able to accumulate through our various accumulation strategies.
If we are new to something, we also might need to be more measured in terms of working our way up to a certain budget, and so hopefully we are not making large mistakes in our ways of calculating how much bitcoin that we might be able to buy or even that we are not making mistakes in regards to other aspects of our cashflow management and various back up funds that we also might need to build and/or maintain.
You are right, sir, I believe that it's more better to invest flexibly than getting oneself in a bad depressive state for the sake of meeting up. Like you mentioned, there are some people that can invest aggressively and still the able to catch up with their pattern of successfully handling the investment and keep it consistent but some persons can not.
Price drop should not be a limiting problem for why the person should not invest but even if the price drops, it's just an advantage to accumulate more than what was expected.
There is always a trade-off for any guys that are holding back value to buy dips. The ONLY way that any guy is able to potentially buy more aggressively on dips is based on his having had held back value.. whether it is holding back 10%, 30%, 50% or some other amount, and so ultimately each guy has to figure out how much to balance the buying of bitcoin regularly and the holding back value for the abilityt to be able to buy dips, and it seems that newbies should be concentrating more on the ongoing buying rather than holding back of value, even though, sure, it might feel good to buy dips, but dips also might not end up happening, so if the BTC price goes up, it feels good to have already bought decent amounts of BTC with whatever value that the person has.
I think that if they are going to decide to invest, they'll only realize that sooner and they'd heavily going to be after it when we're on the next cycle or hopefully, before it.
Some people might come to realize earlier rather than later, yet it seems to be very common that even people who hear about bitcoin, they either fail to act or if they investigate into the matter, they end up getting distracted by shitcoins or trying to trade bitcoin, which are both mistaken ways to approach bitcoin.
That is so true. I've known a lot of people personally that I've talked to them about Bitcoin and even friends outside the circle and just did some casual talks.
All they talk about were the memecoins, well, that's them and I understand where they're coming from with all the same excuses about Bitcoin being
expensive as they say.
People are going to continue to be distracted by unit bias, and that works to their disadvantage to the extent that they cannot see the value of bitcoin, besides the unit value. Buying satoshis could help (or at least thinking in terms of satoshis). Also learning about market cap could help, even though several shitcoin's manipulate their market cap, yet bitcoin's market cap should be compared with monetary supply and/or gold and/or bitgger companies rather than being compared with shitcoins.. and then getting distracted into believing that shitcoins either have any value or that shitcoins are a meaningful comparison point.
It is obvious that a lot of you are mistaken aggressive investing for something else because it does not mean that you should ignore other important things such as using only discretionary income, setting aside emergency funds and other minor details. Let me give example to make the explanation easier. Assuming someone have been able to work out his discretionary income might decide to invest as high as 70% of it by cutting down on unnecessary spending and channeling everything to Bitcoin. This shows the level of passion and commitment on the side of such investor. Others in his situation may not want to go above 50% of their funds to be invested into Bitcoin.
You can invest whatever is left over from your discretionary income and after deducting your personal expenses, and I would advise beginners to invest 5% to 25% of their income.
If a new investor decides to invest 70% of their income initially, they may be alarmed by small market declines. If a new investor invests 70% initially, they may become very anxious. They should invest small amounts so that they are less likely to get emotional about their investments. It is very difficult to determine how to maintain their psychological balance.
You seem to be mixed up Gost ms. Odohu was talking about investing 50% or 70% of discretionary income as examples of aggressiveness, and discretionary income already accounts for expenses... it is the amount that is left over after accounting for expenses.
When you mentioned investing 5% to 25% of your income, you are talking about income prior to accounting for expenses.
There is nothing wrong with talking about various ways to measure what we are doing as long as we do not mix up the concepts and then start to include a lot of confusing information in regards to trying to figure out the reference points.
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They deserve the rest. But because, currently, they're probably addicted to the pain, and they also probably feel they can do it longer - they will take the path to "the impossible". The path to Push Ups Until $1,000,000 United States Freedom Dollars PER Bitcoin.
But with nation-states and business institutions desire to HODL Bitcoin, it might not be that impossible anymore, no?
Of course, it is difficult to know when $1 million per coin is going to happen, and that is ONLY a 10x from here.. so it is really not that BIG of a leap to reach $1 million per BTC, as you suggested with the fact that Bigger and BIGGER players are getting into bitcoin.
It could happen this cycle.. meaning within the next 6 to 18 months or it could take a bit longer to happen, such as 2-6 more years.
I would be quite surprised if $1 million per BTC were to take more than 6 years to happen... even though we surely know that there are quite a few different possibilities in bitcoin, including that less likely scenarios could end up playing out (and sometimes do end up playing out), even though we probably should be setting up our own preparations in regards to our own situations in regards to the more likely rather than less likely scenarios... even though we should attempt to be financially and psychologically prepared for a variety of scenarios, even extreme scenarios in either price direction.
