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As he is worth over a million dollar, he can afford to put in a thousand dollar or more on Bitcoin per week without feeling it.
Usually any newbies could start out by considering anywhere between 5% and 25% as their target investment allocation to bitcoin, even though it could take a year or two to reach their target level of allocation, depending on how they go about it, even though right now it does not seem a good practice to spread out allocations timeline too far in the future, but those are matters of personal discretion.
My suggestion of a thousand dollar or few thousand dollar investment per week by his boss is based on the peculiarity of his case. From what he said, his boss was reluctant to invest in Bitcoin for reasons best known to him, hence my reason for suggesting he start with less than 1% of his capital. Overtime this will show him the beauty of building a Bitcoin portfolio with insignificant amount of money that could amount to something significant as time progresses. When he fully grasp of what Bitcoin is and the opportunity it represent, he can then up the numbers out of personal conviction.
By the way, some folks with millions of dollars of assets, might not be very liquid, so it could still take time to reallocate and to dedicate whatever might be his quasi-liquid investment portfolio into bitcoin, and sometimes business owners want to (or need to) stay a bit more liquid than some other folks.. depending on the nature of their business.
You are right and I see a lot of sense in what you said. As a business owner, he may not be that liquid as his funds are tied to the business. I think this also is in agreement with my suggestion of him starting with very little amount until hi can own the investment process in Bitcoin, from there he can better plan his financial allocations in the future. My major concern is coming from the angel of him having his personal conviction rather than relying on recommendations of his employee.
Of course in the end, each person has to figure out his own situation and to be responsible for his own actions. And, yeah I am in agreement that any employee recommending to a boss may or may not end up in any kind of ultimate responsibility for such suggestions, unless he is also considered to be employed as a financial advisor for the company, which is a bit unclear from how cocadalcan was framing his role in looking at company finances.
Since 2024, I have started to recommend newbies to bitcoin to consider 5% to 25% allocation to bitcoin, so I am not moving off of my general recommendation, and I am not responsible for whatever any newbie to bitcoin might do. They have to figure it out for themselves, and yeah sure they could start out with a lower target if they like and that is on them. I am not changing my current recommendation or even asserting that they have to figure out their own situation.. and that means all aspects of their situation without fucking up their cashflow in order to get to their target or reverting to gambling and all of that.
I presume people to be adults, and if they are having troubles being an adult, they better learn. I have seen some pretty smart and even otherwise seemingly successful people who seem to not be able to handle their finances or to revert into gambling, and it is not going to cause me to change my general recommendation, but if someone might be telling me more specifics about his situation, then I might add some more details which might be included in the idea that I am recommending that they need to consider committing to investing into bitcoin for 4-10 years or longer, so I am not recommending bitcoin as a swing trade that is less than 4 years, and if they cannot bring themselves to that kind of timeline, then of course, they may well have to adjust below 5% until they get are able to get their shit together enough in order to be able to get their allocation up to a minimum of 5% (that I am recommending).
Yes, some people have tighter cashflows and they are not able to get their investment level up to 5%, and should they follow my recommendation to invest 5%? No they should not, but I am not changing my minimum recommendation (which also is not financial advise even though it seems like it could be but I have no fiduciary obligation to any one merely because I am telling them to invest 5% to 25% into bitcoin) without knowing anything else about them. They have to figure out if their financial situation is not strong enough to be able to support (or commit to) at least a 5% allocation to bitcoin.
Yes, a lot of people are new to investing so they have to get their shit together if they are going to invest by making sure that they have an emergency fund, so maybe if they they do not have an emergency fund then they should not invest 5% into bitcoin, but that is not my problem, since I am going to presume that they know enough basics of their own personal financial management to have an emergency fund, even though yes many people do not do that, but again that is not my problem - especially since it is basic financial management before investing into anything and especially if you invest into something that is quite likely (perhaps inevitably) to be volatile) and I am not changing my newly established (since 2024) recommendation that everyone (newbies to bitcoin) should be working towards figuring out how to allocate a 5% to 25% allocation to bitcoin and they have to figure out their own details in regards to how to get there or even if their own financial circumstances are ready to go there and where to go within those parameters based on their own circumstances.
Adults have to figure out their own personal financial management shit and other aspects of their life, including their psychology and take responsibility for their choices, even if they hear stuff from other people including from randos like me on the internet, and if anyone were to want to talk with me about bitcoin in real life, I would say the same thing in person, by the way.. yet in person, sometimes we might be able to see some actual physical evidence of a person's financial and psychological circumstances by seeing how they are dressed and how they hold themselves and how they interact about topics (on the fly), and if we get into a bitcoin-related conversation, we might even ask the other person about some personal details, and the conversation may or may not go into a level of recommending anything - depending on their level of interest in the topic of bitcoin. But in a forum like this, by default we already know that people are somewhat interested in bitcoin otherwise they would not be participating and/or reading threads like this one.
Bitcoin reached very close to its last ATH, Bitcoin ATH of $69,044, and Bitcoin went as high as $68,912 in the last 24 hours ago. Bitcoin just failed to break its previous ATH high of $134. And currently the price of Bitcoin is $66,022.37. But I hope it happens very soon. I expect Bitcoin to break its previous ATH very soon.
You must have your references incorrect, since we have already reached an ATH.
It seems that many people are not even aware that Bitcoin created a new all time high this month. It surprises me a lot because this is not the first time I am seeing a comment suggesting that some people are not aware of it. Maybe they are expecting it after the halving.
I get the sense that there might be some misleading going on, and people repeat what they hear, even when it is factually inaccurate. In bitcoin we have price battles and we also have informational battles, and frequently the weird spins can scare normies from actually buying bitcoin or holding onto the bitcoin that they already accumulated, so again, we get back to personal responsibility, including that if we are posting the same kind of bullshit disinformation, then it should be pointed out if we are stating information that is not even true... even if it is a little thing, members should bare some responsibility over the information that they post, and try to be factually accurate, especially over information that seems fairly easy to verify.
This method buy the DIP and HODL is one of the most trading strategies or tactics in the Bitcoin and crypto market or in the investment cycle.
We are not talking about shitcoins here. The tactic of buy the dip, HODL and DCA does not necessarily work with shitcoins, even if we were talking about them in this thread. Which we are not talking about them.
This is when most investor like acquring coin having the believe that the price will some day go high, same also in most cases when you think the price will go high but eventually it starts deprecating in value.
Also this method doesn't guarantee 100% profit believing that since the price is low at when is been aquire it will definitely hit at ATH, so in such case as an investor one also need to have two things in mind which is either gain or loss unless you wish to HODL for a longer period of time.
You seem to be contradicting yourself in the above
bolded part of the sentence. Presumptively an investor would already be in it for the long term. There probably is no such thing as a short term investor. If you are suggesting that someone is a short term investor then they are probably a trader.
Sure, maybe we are arguing over semantics and perhaps a short term investor could be someone who is at least 4 years in bitcoin and a long term investor would be someone more than 10 years, but that seems to be quibbling, arbitrary and confusing, and so I think it is probably better to not be referring to traders as investors because that seems to be misleading - even if they are trading and gaining dollar and/or bitcoin profits and then investing those profits, they are still primarily trading and the investment part might only be supplemental to their main trading/gambling activities.. so the term "investor" comes off as misleading in those circumstances when the person is largely considering how to get in and out, especially if s/he cannot even commit to a whole cycle of 4 years at bare minimum.. and even just considering 4 years might still end up falling more into the classification of trading rather than really having an investing mindset and/or approach to the asset class known as bitcoin (aka my lil precious).
But the problem is, is now the right time to buy bitcoin? considering the price is very high and prone to correction. I can only advise him to buy with the DCA model or wait for the price to correct. When he asked, what is the right price to buy bitcoin? I can only shake my head and say "no one knows"
Do you have any good advice for my friend? Honestly, I was confused with my answer because Bitcoin was very expensive and I was afraid of giving him the wrong advice
I'm doing a job to a reputed organization as a PS of owner. Last December, I told my boss to invest the Bitcoin but he didn't agree. However, he has million dollar into the share market. I'm maintaining his all accounts, and try to convince him by showing the bitcoin graph..recently he has shown interest in buying Bitcoin but it's not yet legal in our country.
My boss already talk to his friend who staying in USA.. sometime he goes their. I hope he might be invest in Bitcoin within future.
I have the same question, will the price of BTC decrease?
Is there any possibility that the price of Bitcoin will decrease during the halving?
Yes. BTC prices can go in either direction, so it is good to have a 4-10 year timeline or longer for any investing into bitcoin that you do.
Many senior and respected Parsons given their valuable opinions, But I found a essence of everyone in one line of your opinions. Initially approved and I wait for final approval from my boss. I think Longtime Investments like 4-10 years is very profitable for every business and if is there is Bitcoin, others are useless. Large investors like my boss may not prefer DCA strategy for those "HOLD" can be the best.
Fair enough if he does not want to DCA, yet even starting out with a lump sum investment can be enhanced with either DCA and/or buying on dips, but yeah, whatever, your boss should be able to figure out how he wants to approach his investment and to consider whether he might start out with an initial allocation and then consider at various points down the line if he might want to add to his position. Again, any new allocation would trigger another 4-10 year or longer commitment to that additional portion of the investment, so keeping a long term time horizon is good for any additional capital added to a position, yet at the same time, all of us know that we can do whatever we want, including getting out of the investment if we change our mind down the road, but I personally believe that if anyone is taking less than a 4-10 year position, then they likely should take a smaller position if they are not willing to at least conceptually consider the investment into bitcoin in those kinds of terms.
Another thing is that if your boss is going to invest a decently large sum into bitcoin in a lump sum, then there has to be some learning involved, otherwise he is not taking personal responsibility if he is ONLY wanting to get price exposure by holding his coins through some exchange and/or third party. Yeah, sure he can end up buying through an exchange and even custodying through an exchange, but hardly any of us would consider that to be investing into bitcoin, but instead merely investing into BTC price exposure, which is a related animal but it is not exactly the same thing.. so there is some learning that is required in regards to self-custody, too... even if it might merely be considering the purchase of a Trezor hardware wallet.
People doing that is not really for long term since if they aim to hodl they would never think about selling their bitcoin when they see a pump and think about buying again when the price dump. The person who doing that are traders and I guess there's really a high risk for them to lose their money if they repeatedly doing this schemes. And won't recommend this to newbies especially if they don't know what to do next and much really better to anyone if they just hold their bitcoin and aim for long term since this will give them more decent result, also for that they would not get affected on any FOMO circulating around.
Does taking profit after holding for long in other to buy back when the price dips a great idea? Yes, it is.
Does not sound like a good idea to me. That sounds like trading rather than investing.
But right now, it is not advisable since bitcoin has the potential to go higher than this of which it is speculated that we are entering fully into the bull run. Imagine making a sell order at 64k, selling 20% of your BTC accumulation, and then you sit and wait for either 32k or below that. Only God knows how long it will take for Bitcoin to dip to that price.
That is true. It is very difficult to justify expecting any dip from here, even expecting a 5% dip is gambling. Part of the reason that I suggest that guys are careful in regards to how much BTC they sell and when they sell is because I consider any sale as a likelihood that you are not going to be able to buy back, so there should be an expectation that you are not going to be able to buy back, and if you cannot frame your sale in those terms and accept those results, then you are not ready to sell, or you sold too much and you are gambling/trading rather than investing.
I would always say that if you are selling let it be that you are selling for a good reason. People are out there selling at various prices this week because the price is rising significantly so they think that it is the right moment for them to sell off their investment and that someday the price will drop soon to buy more. It's just like dropping down from a vehicle and expect to run ahead of the vehicle for a cheaper cost. Let there be a reason for selling and make sure you have accumulated enough that if you sell some percentage, you know you still a lot in your bag.
That part is true, and so you should not expect to be able to buy back the BTC that you had sold at a cheaper price then, right?
The random selling of bitcoin for the sole of buying back when the price dips has left so many persons behind.
Now I am confused. I cannot figure out which way you are arguing.
It is extremely difficult to time this market, the price fluctuations and uncertain movement would be a hindrance if someone tries to sell off to buy the dip. Just hodl and accumulate more now is the only solution to success, unless your target from the beginning was to invest and sell off when the time is right to pay for tuition fees or start good business. At least the target was to reduce financial burden, stress and enhance your life.
This last part makes sense - but your way of getting to this conclusion seems confusing and self-contradictory.. so maybe I was just misunderstanding what you were saying.
Anyone taking profit from his bitcoin investment with the idea of buying back when the bitcoin price dumps is taking a great risk because that person will not be patient enough to wait for the bitcoin price to dump so that he or she can buy back his bitcoin because the bitcoin price keeps going high. FOMO will make that person buy back his bitcoin, even with the profit the person took from his bitcoin investment, just to be among those who are holding bitcoin in case bitcoin does the unbelievable. The person will be buying back less of the quantity of bitcoin he or she sold out because of the high price of bitcoin.
People doing that is not really for long term since if they aim to hodl they would never think about selling their bitcoin when they see a pump and think about buying again when the price dump. The person who doing that are traders and I guess there's really a high risk for them to lose their money if they repeatedly doing this schemes. And won't recommend this to newbies especially if they don't know what to do next and much really better to anyone if they just hold their bitcoin and aim for long term since this will give them more decent result, also for that they would not get affected on any FOMO circulating around.
Yes, that's right, I think we can already conclude that they are typical investors who want to quickly profit from the results of their accumulation so that they always think about cashing out as soon as possible, or simply when they see a situation that is quite profitable or there is an increase in the amount of their accumulation due to the increase in bitcoin they will not hesitate to immediately decide to cash out, on the other hand I don't know the problem but certainly the reason is that in my opinion they are too worried and don't seem ready to maintain accumulation in the long run, the fear is that they are worried that a bad situation will happen to bitcoin so that when they see an opportunity they don't hesitate to cash out as soon as possible.
You seem to be describing someone who had overinvested into bitcoin, and another problem is that the kind of person that you describe sounds like a gambler, because the smart thing to do if you have concluded that that you might have over invested would be to take some value off the table, and then to resume with a more prudent approach in which you can stay more focused on your goal of continuing to accumulate in a way that does not cause you to get overly excited (or emotional) about your investment. Sure, it is difficult to set our positions so that we don't get emotional because sometimes it takes a while to build up your position in bitcoin enough in order that you can begin to feel less and less emotional about it. It takes practice to build your portfolio in a way to at least attempt to minimize the amount of emotion, even though we are likely not going to completely get rid of the emotion, especially if we might happen to be normal people rather than bots.
On the other hand, yes, basically our intention and purpose of getting involved in investing is to make a profit in any way and one of them is by buying when the price drops and selling when the price is high enough,
that is called trading. We are not talking about trading here.
I think it doesn't matter because it is indeed a method that many investors choose, and also every investor has their own choices regarding the methods and approaches they have to their bitcoin accumulation. So maybe I will not say that the short-term method is wrong,
But we are not talking about that here... One of the underlying presumptions of this thread is long term investing.. and buying the dip and hodl contains those ideas.. there is no selling involved... and so if you are wanting to just buy to play the short term wave, you are in the wrong thread.
because if for example they are able to maintain and balance the following as well as knowing what to do everything well it is good and will not be a problem, but maybe the difference is in terms of profit is not too maximum between investors who always cash out in the short term and investors who always maintain their bitcoin accumulation in the long term such as 10 - 15 years, the difference in my opinion is because when you choose a short-term method there will be a slight delay in terms of profit while it will not happen when you always choose to maintain and have a long-term approach.
You are still off topic if you are suggesting that it might be better to trade some of your stash in order to build it better than if you were not to be trading part of your stash. That does not seem to be what we are talking about in this thread, even if you might have figured out some kind of technique to get better BTC price performance by playing short-term waves, you are still devolving into talking about trading rather than long term investing. which is why you don't see the idea of sell in the title or even in the OP.
