Buy the DIP, and HODL!

[HajiBagi]

Those who wait for a specific price to invest are definitely making a big mistake because Bitcoin's movement or its fluctuations can never be predicted, but if you wait to invest, you may panic later due to Bitcoin's volatility, so you may eventually give up.

So consistency is the best investment decision here, invest as much as you can afford to lose, and no matter how small the amount, the goal here should be long-term, and the investment method should be to deposit Bitcoin through DCA consistently, but it will definitely bring positive results.

You can’t wait for a specific price before you invest in Bitcoin, Bitcoin can not be predicted and with the way Bitcoin is going you can’t wait for a perfect time to invest because it may lead to regret at the end, you can invest in Bitcoin in different ways and you can meet up with your demand or the amount of Bitcoins you want to buy, using a DCA method is the best way to buy when you want to meet up with the quantity of Bitcoin you want to buy, one thing i observe with some newbies when they heard invest as much as you can lose is that some think they can buy Bitcoin with any amount and be expecting big profits, the more you invest the more you earn profits that’s how Bitcoin works.

[Berry2d]

In my last post in the topic, I said that plebs who don't own any Bitcoin will have less opportunities than those plebs that own Bitcoin. There might those who are asking themselves, "What opportunties? Bitcoiners merely HODL". I believe that Bitcoin, soon, will be a collateral asset like Gold, Real Estate, and other valuable commodities that can be used to borrow some liquidity which can be used, for instance, to start a business or for some other money-making project.

There will people who will probably say it's "risky". You're right, BUT the point is you don't need to sell your Bitcoin IF you are short in liquidity. Bitcoin has become so valuable, and so accepted that entities are willing to accept it as collateral.

It's very possible in the nearest future no doubt, Bitcoin will eventually be used as collateral in the future, but it's not necessary because an individual doesn't necessarily need to sell off his Bitcoin or even use it as collateral if he is managing his finance properly, because any investor who is investing according to his financial strength, who has a reasonable emergency and reserve funds in place will hardly think of selling off his holdings or even use it for collateral in the first place.

Though at some point we do borrow money for one or two things as humans but if you can be able to manage your finances properly, you wouldn't be needing to borrow any money in sorting out some minor needs, because your reserve funds is there already, but if the emergency situation threatens your holdings, that's why you have an emergency funds in place to combat any serious needs that threatens your holdings.

The point, ser, is that many successful entrepreneurs don't use their own liquidity to start a new business venture, or enterprise. The own assets that have value to use as collateral and use the bank's money to use to start the new business.

What is the difference now? Using your own assets as collateral for take loan in the bank and using your cash are thesame thing because if you fail in that business, your asset may be sold by the bank to recover their money that was given to you as a loan. In this case I see no difference from asset coletheral loan and using your personal guns as a liquidity. The problem is that bank take aore higher value advantage asset so that if you can pay back the Cash then they may sell it and make profit from your asset.  I will even prefer to use my capital to do any business of my choice maybe starting little if that is my first time, I will know the level of my business before taken loan from bank otherwise taken loan for coletheral at the beginning of any business may not be a good one since there may be risk if losing.

Many people who source fund from micro finance bank could not be able to pay back and they lose their assets because they where so excited about a business they have never don before.

[ruykeri]

Is there any topic specific to DCA?
thanks

DCA - an investment approach in which a fixed amount of money is invested in specific assets at regular intervals, regardless of market price fluctuations

In simple terms, this is a great approach to investing where you don’t have to go through FOMO, track the price of Bitcoin, and constantly worry about investing in Bitcoin when the price was not profitable. A great DCA strategy takes everything into account. You simply invest at regular intervals, accumulating fractions of Bitcoin.
This is the most simple and effective for beginners. I have heard that many experienced traders have lost money in search of the perfect trading strategies, and ultimately chose DCA.

Since our weekly or monthly expenses might vary, it isn't advisable to invest a fixed amount of money into Bitcoin because you might put yourself in difficult situations in some weeks or months just to meet up with your weekly or monthly fixed DCA money. When you want to invest in bitcoin with the DCA strategy, you don't need to use a fixed amount of money so that any week or month your expenses are way too big; you can invest with your available discretionary income, and there will be no need for you to put yourself in difficult situations just to meet up with your fixed DCA money.

A person will invest in Bitcoin depending on his income type and how much money he is earning. Now let's say a person has irregular income. Maybe he earns money weekly or monthly and he does not get a fixed amount of money every week or month. Then if he wants to invest in Bitcoin, he has to be in this situation that he really has a discretionary income. If he has a discretionary income and that income is of a certain amount every month, then he can find an average discretionary income of three or six months and from there he can invest in Bitcoin according to his wish. But I think it is good to always keep the amount the same or close to it. Now let's say a person's average monthly discretionary income is around $300, so if he want, he can start investing $50 or $70 per week. What I think is that this discretionary income is more or less is not a big deal. The point is that if the fund is managed properly and invested regularly according to follow, then good results will definitely come. In addition, fund management is very important. Of course, he must create a reserve fund or emergency fund so that if he ever faces financial problems, his accumulated bitcoins are not affected later. Now if he does not have discretionary income or he gets discretionary income in some months or not in some months then he should think more about whether it is right for him to invest in Bitcoin or not. Because if you invest in Bitcoin in this kind  situation and you encounter financial problems in the future due to unforeseen circumstances, then you have to sell that Bitcoin unwillingly and if the selling price is relatively low at that time, it will result in a much greater loss for you.

[kanftka]

We also don't know about the ability to increase our $2,500 per month investment amount. If we are starting out with that amount and anticipating to be able to continue at that amount, then that is fine, but it might not account for everything...   We also might start at $2k per month and we anticipate over the next 5 years we will be able to increase our amount to $3k per month, so we just project forward with our idea of an average of $2,500, so our actual goal might be more about maintaining an investment amount yet not exactly knowing how many BTC that will attain, even though we would like to get to 1 whole BTC in around the time frame of 5 years, so then the amount of BTC accumulated still could be a kind of tentative goal that we believe to be in the ballpark of realistic, and maybe we even consider that we might be able to accumulate anywhere between 0.65 BTC and 1.2 BTC in that timeline, and we hope to hit somewhere around 1 BTC, even though we consider it as potentially a difficult amount to achieve based on our current budget constraints and our knowledge about our future budget constraints..

I would call it as still a success when we do what we are supposed to because the price factor is not in our hands and we can only increase the potential savings that go for our DCA funds to a certain level. Because DCA is mainly used by retail investors who might have fixed income that is why we also try to upskill and increase the revenue stream from others ways it's not just for the bitcoin but to have the financial freedom that we all are talking about. Eventually, bitcoin is also one way to reach there but it's getting out of reach year after year.

About achieving the goal, DCA isn't not just a strategy but the blend of consisteny with the discipline that we are commited to achieving so be it 0.6, 0.8 or 1.2 one must keep continue to what they wanted to achieve and if that happens as we intend then it good and even if it take more time we are still progressing.

I personally believe that bitcoin will likely outgrow a lot of assets for a long time into the future, but surely the steepness of the growth curve is going to continue to be less steep.  The punchline in the end does not point to some other place in which we should put our money, so we just have to do what we can do, even if we happens to be new and/or early in our bitcoin accumulation journey.

Yeah, you kw, I have had the same thought for a while now, Bitcoin is probably gonna outperform a lot of traditional assets for years to come, but we can’t expect it to keep growing at that same crazy angle forever. The curve’s gonna flatten over time for sure, that is just how maturity works. But even with that, it doesn’t suddenly mean we should go park our money somewhere else.

The thing is, there is no next big thing yet that checks all the boxes like Bitcoin does, decentralization, scarcity, security, and a global movement behind it. So yeah, even if you are just starting out or feel like you came late, it doesn’t mean you’re too late. We just start where we are and build from there. Everyone had a day one. Most of us did not buy at $200 or $1k or even $10k. That’s life...

So what do we do? Simple, keep stacking what we can, when we can. No need to FOMO into wild positions or feel bad we are not sitting on 10 BTC...  I would say it is right to focus on what is in our control and stay consistent. In the long run, you’ll be surprised how far that mindset can take you....

Those who wait for a specific price to invest are definitely making a big mistake because Bitcoin's movement or its fluctuations can never be predicted, but if you wait to invest, you may panic later due to Bitcoin's volatility, so you may eventually give up.

So consistency is the best investment decision here, invest as much as you can afford to lose, and no matter how small the amount, the goal here should be long-term, and the investment method should be to deposit Bitcoin through DCA consistently, but it will definitely bring positive results.

You can’t wait for a specific price before you invest in Bitcoin, Bitcoin can not be predicted and with the way Bitcoin is going you can’t wait for a perfect time to invest because it may lead to regret at the end, you can invest in Bitcoin in different ways and you can meet up with your demand or the amount of Bitcoins you want to buy, using a DCA method is the best way to buy when you want to meet up with the quantity of Bitcoin you want to buy, one thing i observe with some newbies when they heard invest as much as you can lose is that some think they can buy Bitcoin with any amount and be expecting big profits, the more you invest the more you earn profits that’s how Bitcoin works.

Honestly, one thing that gets people stuck is this idea of waiting for the right price before they buy Bitcoin... Like bro, what are you even waiting for? Bitcoin does not care about your perfect entry. It is not gonna pause and say,, oh wait, let’s let this guy get in first... By the time it moves, most of the time people either freeze or miss the whole move completely...

And this has happen too many times to not learn from it... Someone will be like, i will buy when it hits $20k, it hits $20k, and they say "hmm maybe it’ll go to $18k.” Then boom, next thing they know it is back at $30k and now they’re saying “I’ll wait for it to dip again.” That loop never ends until they give up...

That is why DCA is always the king. It takes the pressure off.... Just buy little by little, whatever you can afford, whether it’s weekly or monthly, it adds up over time.  no stress....

[Tonimez]

In my last post in the topic, I said that plebs who don't own any Bitcoin will have less opportunities than those plebs that own Bitcoin. There might those who are asking themselves, "What opportunties? Bitcoiners merely HODL". I believe that Bitcoin, soon, will be a collateral asset like Gold, Real Estate, and other valuable commodities that can be used to borrow some liquidity which can be used, for instance, to start a business or for some other money-making project.

There will people who will probably say it's "risky". You're right, BUT the point is you don't need to sell your Bitcoin IF you are short in liquidity. Bitcoin has become so valuable, and so accepted that entities are willing to accept it as collateral.

It's very possible in the nearest future no doubt, Bitcoin will eventually be used as collateral in the future, but it's not necessary because an individual doesn't necessarily need to sell off his Bitcoin or even use it as collateral if he is managing his finance properly, because any investor who is investing according to his financial strength, who has a reasonable emergency and reserve funds in place will hardly think of selling off his holdings or even use it for collateral in the first place.

Though at some point we do borrow money for one or two things as humans but if you can be able to manage your finances properly, you wouldn't be needing to borrow any money in sorting out some minor needs, because your reserve funds is there already, but if the emergency situation threatens your holdings, that's why you have an emergency funds in place to combat any serious needs that threatens your holdings.

The point, ser, is that many successful entrepreneurs don't use their own liquidity to start a new business venture, or enterprise. The own assets that have value to use as collateral and use the bank's money to use to start the new business.

What is the difference now? Using your own assets as collateral for take loan in the bank and using your cash are thesame thing because if you fail in that business, your asset may be sold by the bank to recover their money that was given to you as a loan. In this case I see no difference from asset coletheral loan and using your personal guns as a liquidity. The problem is that bank take aore higher value advantage asset so that if you can pay back the Cash then they may sell it and make profit from your asset.  I will even prefer to use my capital to do any business of my choice maybe starting little if that is my first time, I will know the level of my business before taken loan from bank otherwise taken loan for coletheral at the beginning of any business may not be a good one since there may be risk if losing.

Many people who source fund from micro finance bank could not be able to pay back and they lose their assets because they where so excited about a business they have never don before.

Taking loan from the bank just to invest in bitcoin in any form is a fundamental mistake, whether by taking loan to start a business and then invest in bitcoin simultaneously with the business cash. When planning to invest in bitcoin one of the major things to consider is your ability to live off your discretionary income and the availability of such discretionary income as at your DCAing period. Money from bank loan does not make a discretionary income and generates compound interest and taxes and loan services. These services are already enough to stress the hell out of you and can hamper your long-term holding intention. The longer you owe banks, the higher the charges and you may not concentrate in your investment goal when you have a side financial stress dealing with you.

Using bank loan to start a business does not make you have a discretionary income because you are supposed to first build the business before you plan investment so that you can be able to pay the loan as at when due.

[Cold_Joker]

Those who wait for a specific price to invest are definitely making a big mistake because Bitcoin's movement or its fluctuations can never be predicted, but if you wait to invest, you may panic later due to Bitcoin's volatility, so you may eventually give up.

So consistency is the best investment decision here, invest as much as you can afford to lose, and no matter how small the amount, the goal here should be long-term, and the investment method should be to deposit Bitcoin through DCA consistently, but it will definitely bring positive results.

You can’t wait for a specific price before you invest in Bitcoin, Bitcoin can not be predicted and with the way Bitcoin is going you can’t wait for a perfect time to invest because it may lead to regret at the end, you can invest in Bitcoin in different ways and you can meet up with your demand or the amount of Bitcoins you want to buy, using a DCA method is the best way to buy when you want to meet up with the quantity of Bitcoin you want to buy, one thing i observe with some newbies when they heard invest as much as you can lose is that some think they can buy Bitcoin with any amount and be expecting big profits, the more you invest the more you earn profits that’s how Bitcoin works.

What of in rough times, I had a family friend who battled illness I had to be there for her and I used my little Bitcoin saved. I am not crying over it because I can still continue to save more the little way I do. I don't think about big profit now but continuity.


-CJay

[Fuso.hp]

Is there any topic specific to DCA?
thanks

You need to know first what is DCA? By DCA we usually mean Dollar Cost Averaging. It is an effective method for investment. Dollar Cost Averaging can basically be used by all types of investors. That is, if you invest following this method, you do not need to invest a large amount of money at once, rather the main purpose of this method is to invest gradually and consistently. Suppose you are earning $300 every month, after deducting all expenses from this $300, you will have a part of the amount left so that you can invest every month or every week and that should be done consistently. This is basically the DCA investment strategy. By following the DCA investment strategy, a rich person is currently able to maintain the continuity of investment, just as a low-income person is also able to maintain this continuity of investment, which is why this investment strategy is known as an effective investment strategy.

Not sure there's any other thread that specifically discuses about DCA method like this perticular thread that centers on DCA strategy to buy and hodl Bitcoin. The word DCA is more consistently used in this forum on this perticular thread and the 'buy buy buy or sell sell sell?' thread. DCA is basically where our discussions in the two threads are centered on because they're about a strategy of consistency in buying periodically on the long term. Inorder to achieve a goal of buying into the future and staying focused especially for income earners who wants to be buying weekly or monthly from their discretionary funds DCA is their best option.

Investors who observe the creation of this section may be well aware of the discussions that take place every day about DCA investment strategies. There is no denying that I also learned about the DCM strategy for the first time from this section. I had invested in Bitcoin before, but the investment strategy was not the same then. Earlier, I used to try to accumulate a large amount of money and then accumulate that large amount of money and then buy Bitcoin and hold it for a long time. When I bought Bitcoin in the first step, I would deposit money again and try to buy Bitcoin again. This was a bit difficult for me and accumulating money in this way was a challenging matter for me because many times I faced many problems and then I was forced to spend the amount of money that I had set aside.

However, from the day I learned about DCA investment, I no longer deposit money separately, but rather I used to regularly set aside the amount of money that I had previously set aside and I continuously purchased Bitcoin.

[Barikui1]

What of in rough times, I had a family friend who battled illness I had to be there for her and I used my little Bitcoin saved. I am not crying over it because I can still continue to save more the little way I do. I don't think about big profit now but continuity.


-CJay

What you did is not a bad thing honestly, you are trying to save a life, but you did the right thing the wrong way, selling off your Bitcoin to pay for medical bills of your friend should have been totally avoided if you had  an emergency funds in place that stands as the last layer of protection to your Bitcoin investment, but because their was no measures in place like emergency and reserve funds, you were forced to sell off your Bitcoin holdings even though you never wish to, so in this your situation, it is lack of proper planning on days like that, days of emergencies that cost you your Bitcoin investment, I just hope that you learn from it and for it not to repeat itself again.
I have seen stories like this countless times repeating itself over and over again because most folks fail to learn, but in all we do, for the sake of our Bitcoin holdings, we shouldn't joke with emergency and reserve funds.

[Creeper0]

What of in rough times, I had a family friend who battled illness I had to be there for her and I used my little Bitcoin saved. I am not crying over it because I can still continue to save more the little way I do. I don't think about big profit now but continuity.

Your incompetence in financial management may have led you to use your saved Bitcoin. In such a situation, if you had given importance to emergency funds, reserve funds or cash flow, then you may not have had to reach out to your Bitcoin savings. Due to haphazard financial management, you have to reach out to Bitcoin savings or exhaust your savings. I think you are still in the initial stage of investment and may be at the very beginning of investment. You may not regret reaching out to Bitcoin savings now, because you are still at the beginning of investment. But you may regret it later.

I even think that if you do not yet give importance to financial management or do not give importance to backup funds, you may fail despite being consistent in investment. Because more important than consistency in investment is long-term survival in investment. But I think that without backup funds, you will occasionally encounter a situation where you are forced to reach out to Bitcoin savings. So now is the right time for you to educate yourself on financial management and prioritize building a backup fund.

[Lembo69]

We can choose bitcoin and/or we can choose other places to put our time, energy and money (that is discretionary income).

If we have a lot of confidence in bitcoin, we might invest aggressively, and if we don't have much confidence, then we will choose to invest less aggressively (perhaps even whimpily).  Surely some folks choose not to invest into bitcoin at all, which seems a pretty big mistake, even though around 99% of the world's population are no coiners or maybe low coiners or maybe precoiners.

We can also choose to have other investments, and folks might come to bitcoin while already having other investments, so there situation might be a bit different from someone who is both brand new to bitcoin and brand new to investing.  We choose our position size and our approach and maybe we reassess at various times along the way, and then 4-10 years or longer, we may well reassess again and figure out if we need to change any of our strategies... if we might advance from accumulation stage in to maintenance stage and then perhaps later into sustainable withdrawal.

Bitcoin has always being a good investment for the long term. Most people who invest in Bitcoin expecting immediate returns which can bring about disappointment and withdrawal after several draw backs. The focus more on accumulation should be considered over the perfect time to buy  as it's a long term investment.

Even if you have low earnings, that shouldn't be a limiting factor to invest as you could stack up but by bit and over time you would be surprised  how much you have realized without checking CMP. Also, trying to reduce unnecessary expenses can as well help you save for investments purposes and this is for those with low income earnings. There is definitely no excuses.

It is foolish to expect instant profits by investing in Bitcoin! Because if you expect profits immediately after investing, you will be disappointed if the market downturn occurs. Those who invest using the DCA method and continue to invest in small amounts get instant profits. However, a better investment medium is investing for the long term. Because investing for the long term will bring you large profits. In this way, you will never be disappointed with your investment. Do not always wait to buy a dip. Whatever the price is in the market, if you have the means and money, start investing now. Because the first step before investing is to start. Once you start, you will be more interested in investing later. You can also increase the money you have set aside for investment later along with your income. However, always invest from your source of income. Keep some money allocated for other things, including emergency funds, and invest. This way, your investment will never be hindered or endangered.

Keep your plan long-term before investing. Try to hold on to it as much as possible. Because no one knows when the market price will increase. Don't miss out on your investment. Because opportunities don't come again and again.

[Sticky Bomb]

~

~

The problem with those long term, dreamy ass goals is they’re often too far removed from your current situation. Sure, it’s cool to visualize success, but if you’re not building a plan to actually increase income, or find ways to earn in Bitcoin or free up fiat, then it is just wishful thinking. No offense, but wishing ain’t a strategy.

Great points, but personally I would want every investor to make plans and set targets with their present situation so that it is realistic at least, this would keep your motivation alive that you set an achievable goal, then in the case of increasing your finances in the future and you finally find out you've more discretionary income present, you don't necessarily need to reset your target at that time, but get more aggressive and try reaching your earlier target faster and of course attain over accumulation status. You can then choose to reset your accumulation target to a higher, yet realistic goal depending on your financial strength at that time and get back into accumulation stage. The goal is being realistic at your goal setting to help keep you motivated and not worn out.

[Futurexxx]

. Because the first step before investing is to start. Once you start, you will be more interested in investing later. You can also increase the money you have set aside for investment later along with your income. However, always invest from your source of income. Keep some money allocated for other things, including emergency funds, and invest. This way, your investment will never be hindered or endangered.

You are very wrong here, am talking about the bold words in your write up, you don't invest in Bitcoin from your source of income, you invest in Bitcoin from your discretionary income, the money left after every other basic needs has been met, because their are so many folks that have a stable income and a source of income but still can't figure out their discretionary income, so for your security and emotional wellbeing, you only invest from your discretionary income so that if your Bitcoin investment doesn't go as planned tomorrow, you wouldn't be that shaken too much financially because it's a money you can afford to lose, so try not to misunderstood having a source of income and having a discretionary income, these two different scenarios entirely.

[SmartCharpa]

But we cannot go back to the past right now, and you're right that if someone wants to reach that level now, they will need to be more serious about their plan. Whether Investing 25% of your income will shows that you are serious, and if we can maintain this level of investment for some years, we may reach the level or even more but that will depend on how bitcoin operates.

For sure, if you are able to do a higher percentage, then you will get a higher stake in bitcoin sooner, so that if bitcoin ends up having a run, then you benefit from what you had already put in.  Surely many normal people struggle to invest and/or save 10% of their income on a regular, consistent and ongoing basis, so I try not to presume too much about what normal people are ready, willing and/or able to do.  

Surely there are some normal people who might be able to live comfortably off of $15k to $25k per year, and sometimes if those guys get raises in their income, and they go from an income that is $30k per year to $50k or even $80k per year, they may well be able to invest their extra income and continue to keep their expenses down... so then they may well put themselves into a place in which they can reach overaccumulation levels sooner than their peers.

Yes, the more the percentage you can invest, the more you can build your Bitcoin holdings, and as the price rises, you will get profit more because you invested more. However, as you said, not everyone can afford to save or invest 10% of their income every week; some people are struggling to cover their basic needs, so we cannot expect everyone to do the same.

Of course, some people earn little amounts of money, maybe like $15k to $25k per year, but they only live a simple lifestyle. However, if they later find a better job and get a salary increase, perhaps to $50k or more, while they still manage to reduce their expenses, they can use their extra money to invest more. For a long time, they can build wealth more easily than those who make more money but spend more than they can earn. I believe that discipline and how to manage money are more important than how much you earn.

[Derekfunds]

Those who wait for a specific price to invest are definitely making a big mistake because Bitcoin's movement or its fluctuations can never be predicted, but if you wait to invest, you may panic later due to Bitcoin's volatility, so you may eventually give up.

So consistency is the best investment decision here, invest as much as you can afford to lose, and no matter how small the amount, the goal here should be long-term, and the investment method should be to deposit Bitcoin through DCA consistently, but it will definitely bring positive results.

You can’t wait for a specific price before you invest in Bitcoin, Bitcoin can not be predicted and with the way Bitcoin is going you can’t wait for a perfect time to invest because it may lead to regret at the end, you can invest in Bitcoin in different ways and you can meet up with your demand or the amount of Bitcoins you want to buy, using a DCA method is the best way to buy when you want to meet up with the quantity of Bitcoin you want to buy, one thing i observe with some newbies when they heard invest as much as you can lose is that some think they can buy Bitcoin with any amount and be expecting big profits, the more you invest the more you earn profits that’s how Bitcoin works.

What of in rough times, I had a family friend who battled illness I had to be there for her and I used my little Bitcoin saved. I am not crying over it because I can still continue to save more the little way I do. I don't think about big profit now but continuity.


-CJay

This is what happens when you don't have a good emergency funds and someone who is ready to invest in Bitcoin should have a good emergency funds in case of situation like this so that they don't touch their investment though I am not saying you did the wrong thing by touching your investment to settle your sister's issue because I know life is more important than anything,  allowing your sister sick to the point of death when you have something in your investment that would have taken care of everything is wrong but in all try as much as possible to be building your discretionary and also your emergency funds because they are very necessary.

[Cold_Joker]

What of in rough times, I had a family friend who battled illness I had to be there for her and I used my little Bitcoin saved. I am not crying over it because I can still continue to save more the little way I do. I don't think about big profit now but continuity.


-CJay

What you did is not a bad thing honestly, you are trying to save a life, but you did the right thing the wrong way, selling off your Bitcoin to pay for medical bills of your friend should have been totally avoided if you had  an emergency funds in place that stands as the last layer of protection to your Bitcoin investment, but because their was no measures in place like emergency and reserve funds, you were forced to sell off your Bitcoin holdings even though you never wish to, so in this your situation, it is lack of proper planning on days like that, days of emergencies that cost you your Bitcoin investment, I just hope that you learn from it and for it not to repeat itself again.
I have seen stories like this countless times repeating itself over and over again because most folks fail to learn, but in all we do, for the sake of our Bitcoin holdings, we shouldn't joke with emergency and reserve funds.

Emergency fund is relative. The bill for the medical bill wasn’t going to be covered by my emergency fund, I am not worried about selling my bitcoin to help my friend i am working two jobs and I am still saving. I will repeat I don’t think about big profits but consistency.

-CJay

[Jostern]

What of in rough times, I had a family friend who battled illness I had to be there for her and I used my little Bitcoin saved. I am not crying over it because I can still continue to save more the little way I do. I don't think about big profit now but continuity.


-CJay

What you did is not a bad thing honestly, you are trying to save a life, but you did the right thing the wrong way, selling off your Bitcoin to pay for medical bills of your friend should have been totally avoided if you had  an emergency funds in place that stands as the last layer of protection to your Bitcoin investment, but because their was no measures in place like emergency and reserve funds, you were forced to sell off your Bitcoin holdings even though you never wish to, so in this your situation, it is lack of proper planning on days like that, days of emergencies that cost you your Bitcoin investment, I just hope that you learn from it and for it not to repeat itself again.
I have seen stories like this countless times repeating itself over and over again because most folks fail to learn, but in all we do, for the sake of our Bitcoin holdings, we shouldn't joke with emergency and reserve funds.

Emergency fund is relative. The bill for the medical bill wasn’t going to be covered by my emergency fund, I am not worried about selling my bitcoin to help my friend i am working two jobs and I am still saving. I will repeat I don’t think about big profits but consistency.

-CJay

The question is, your Bitcoin you’re talking about how long have you been investing and would selling your Bitcoin guarantee you saving the life you’re talking about, well I believe you might as well have an income and also you have emergency funds for this purpose, probably when you might have used all your emergency funds and that isn’t enough then you can also fall back to your reserved funds as well, there are people who have health insurance and that insurance could somehow cover for situations like this, but in a situation that you’ve used up all your income and emergency funds and reserved funds. Then you could start thinking about your situation of your bitcoin holdings.

Having to made due with your bitcoin and whatever profit that you might have, depending on how long that you’ve been investing into bitcoin, that should be the last option, but I still think that there are people who would prefer taking loans in situations that you’re talking about, now I would ask you a question what if you were not investing in bitcoin and you find yourself in a critical health situation or probably a relative that you urgently needed to help to save life and you don’t have any bitcoin ( pleb, no Coiner) what would you have done differently to save the person’s life.

[Tamaperdana]

Those who wait for a specific price to invest are definitely making a big mistake because Bitcoin's movement or its fluctuations can never be predicted, but if you wait to invest, you may panic later due to Bitcoin's volatility, so you may eventually give up.

So consistency is the best investment decision here, invest as much as you can afford to lose, and no matter how small the amount, the goal here should be long-term, and the investment method should be to deposit Bitcoin through DCA consistently, but it will definitely bring positive results.

You can’t wait for a specific price before you invest in Bitcoin, Bitcoin can not be predicted and with the way Bitcoin is going you can’t wait for a perfect time to invest because it may lead to regret at the end, you can invest in Bitcoin in different ways and you can meet up with your demand or the amount of Bitcoins you want to buy, using a DCA method is the best way to buy when you want to meet up with the quantity of Bitcoin you want to buy, one thing i observe with some newbies when they heard invest as much as you can lose is that some think they can buy Bitcoin with any amount and be expecting big profits, the more you invest the more you earn profits that’s how Bitcoin works.

Yes, the point is that too much waiting when investing in bitcoin is not the right action. Because it wastes time and also wastes a lot of momentum. So when we already have discretionary income, then start investing in bitcoin. For the initial stage, I think if we cannot immediately invest with a lot of money, then invest with a minimum of 10 dollars. Because as far as I know the minimum requirement for our deposit to the exchange is 10 dollars. If so, you can immediately buy bitcoin and when the amount is large enough then you can move it to your personal wallet (non-custodian). The point is when we are going to invest in bitcoin it should not be too complicated, because we want to invest not want to be a trader.

Besides, talking about the more we invest in bitcoin, the more the benefits, I personally agree with that. But everyone has different financial circumstances. So it is certain that with this, everyone's ability to invest in bitcoin varies. And in my opinion this is not a problem. Because if someone invests in bitcoin with DCA for 10 years, even though each accumulation is a small nominal. But if done consistently the results will also be quite satisfying.

[Bluedrem]

The point, ser, is that many successful entrepreneurs don't use their own liquidity to start a new business venture, or enterprise. The own assets that have value to use as collateral and use the bank's money to use to start the new business.

That not only is more advantageous for the entrepreneur. It also builds relationships that will be needed for future business ventures. Plus your credit score goes up.

 👍

  -It is even more dangerous to borrow money from a bank by using your own cash as collateral and invest it with that money.
In this case, you are likely to lose money on both sides.

1. Despite having cash, you have to pay extra money as interest due to borrowing money from a bank.
2. The fiat currency you hold is losing value day by day due to inflation.

This will be even more dangerous if you invest in Bitcoin by using your assets as collateral despite not having any discretionary income. Bitcoin is not an investment process from which you can withdraw money every month and use it to pay the bank's installments. As a result, your collateral assets may be confiscated by the bank due to inability to repay the loan.

It would be better if you invest it in Bitcoin if you have cash outside the emergency fund or if you have discretionary income after meeting your basic needs with the money you earn every month, continue to buy Bitcoin using the DCA method.

Never take a loan from a bank against assets, even if you have cash. In that case, only the bank will benefit, not you.

[Humblevirus]

Those who wait for a specific price to invest are definitely making a big mistake because Bitcoin's movement or its fluctuations can never be predicted, but if you wait to invest, you may panic later due to Bitcoin's volatility, so you may eventually give up.

So consistency is the best investment decision here, invest as much as you can afford to lose, and no matter how small the amount, the goal here should be long-term, and the investment method should be to deposit Bitcoin through DCA consistently, but it will definitely bring positive results.

You can’t wait for a specific price before you invest in Bitcoin, Bitcoin can not be predicted and with the way Bitcoin is going you can’t wait for a perfect time to invest because it may lead to regret at the end, you can invest in Bitcoin in different ways and you can meet up with your demand or the amount of Bitcoins you want to buy, using a DCA method is the best way to buy when you want to meet up with the quantity of Bitcoin you want to buy, one thing i observe with some newbies when they heard invest as much as you can lose is that some think they can buy Bitcoin with any amount and be expecting big profits, the more you invest the more you earn profits that’s how Bitcoin works.

Timing the market is just a waste of time, and that is the reason why some people have not yet started their Bitcoin investment. They will hardly be satisfied with every Bitcoin price is at that hime because they always want more dip. Even if they are lucky and Bitcoin falls to their target price, they will still set another target price for buying again. This is how some will continue, giving excuse upon excuse just to see more dip. But if I had to say something, I would say that these people are never ready for long-term holding of Bitcoin. They are rather looking for quick profits in Bitcoin, but I will say it hardly works that way.

The best way to make reasonable profit from Bitcoin investment is through holding and always being ready to hold for the long term. The truth about timing the market is that no one can reliably predict the Bitcoin market. What someone can do, if they are afraid not to buy during a long period of time, is to make use of the DCA (Dollar-Cost Averaging) method. With DCA, someone buys regularly, either weekly or monthly. This method can help someone accumulate Bitcoin at different price levels, regardless of the market's fluctuations.

[SOKO-DEKE]

Those who wait for a specific price to invest are definitely making a big mistake because Bitcoin's movement or its fluctuations can never be predicted, but if you wait to invest, you may panic later due to Bitcoin's volatility, so you may eventually give up.

So consistency is the best investment decision here, invest as much as you can afford to lose, and no matter how small the amount, the goal here should be long-term, and the investment method should be to deposit Bitcoin through DCA consistently, but it will definitely bring positive results.

Instead of waiting for the Bitcoin price to dip and waste time, why can't a person just use the DCA strategy for accumulation? By buying regularly, they will be acquiring Bitcoin at different prices. Waiting for Bitcoin to hit a specific price is a total waste of time, and anyone trying that will later regret it if the price doesn't drop to their target. There's no reason to wait for Bitcoin to reach a specific price, as nobody can actually predict its movements. The best advice is to start Bitcoin investment at any time and at any price, but it's highly advisable to use the DCA approach for accumulation, especially when someone is afraid of volatility.but i will never advice anyone to wait for dip before it can start it bitcoin investment.