Buy the DIP, and HODL!

[Barikui1]

Further, on the MAIN topic, Bitcoin might go on a DIP below $100,000?

 👀

That's how it seems like because with the small knowledge I had in technical analysis, you can see that Bitcoin has formed a head and shoulder chart pattern on the weekly timeframe, which is a very strong sign that it might even dip to $94k which we have the next strong support, but am not counting on that in my accumulation, because what I just have to do is to add more money to my reserve in other to buy aggressively if it eventually happens because that's a lifetime opportunity that may never come again because after that big pullback, the upward momentum will continue, but before then, keep on accumulating through the dca accumulating strategy in other no to be left behind bro if the dip never came as expected, since nothing is certain in the market.

[Ricardo11]

Regarding reserve funds and a stable, solid cash flow, I don't think we can conclude that Bitcoin investors who have these are traders. Honestly, logically and from a comfort level, having a reserve fund and a stable cash flow is much better. While it's true that having both isn't a necessity for Bitcoin investors, if I had to choose, I would definitely choose to have a reserve fund and a stable cash flow when investing in Bitcoin. Just try it and experience what it's like to invest in Bitcoin without a reserve fund and a stable cash flow. I'm sure it will definitely shake your Bitcoin holding. Essentially, our living expenses are crucial. Therefore, I don't think we should underestimate the importance of a reserve fund and a stable cash flow when investing in Bitcoin. So, if you're currently investing in Bitcoin and don't yet have a reserve fund and a stable cash flow. I think it's inevitable that we have to fight to have both. So don't think that either aspect is unimportant.

I agree that having safety net like reserve fund and steady income is important for investing in Bitcoin. But you can invest without them it brings much of stress and risk. As you said worrying about covering unexpected bills can force you to sell your Bitcoin at bad time which can cause you to lose money. Having strong financial base allows you to invest with confidence handle market ups and downs without panicking and stick to successful long term plan. Your advice is great it is important to build financial security first.

It's not enough to just invest in Bitcoin, but you have to effectively hold your investment for the long term, and it's important to take all the necessary measures for this.
You must create financial stability, you must continue to invest in Bitcoin consistently by keeping a stable source of income.
And later, you must have funds to sustain your investment for the long term, when you face an emergency or unexpected expense, you must have this preparation and mindset so that you can handle the situation without getting into any problems.
However, in preparing emergency funds, you do not need to prepare emergency funds before investing, because this may delay your investment, which is never the right thing to do.
Invest first, then ensure the long-term security of your investment by preparing funds as soon as possible, and keep the investment consistent, then it will give you a better chance of success.

[Kagaru]

...

I agree that having safety net like reserve fund and steady income is important for investing in Bitcoin. But you can invest without them it brings much of stress and risk. As you said worrying about covering unexpected bills can force you to sell your Bitcoin at bad time which can cause you to lose money. Having strong financial base allows you to invest with confidence handle market ups and downs without panicking and stick to successful long term plan. Your advice is great it is important to build financial security first.

It's not enough to just invest in Bitcoin, but you have to effectively hold your investment for the long term, and it's important to take all the necessary measures for this.
You must create financial stability, you must continue to invest in Bitcoin consistently by keeping a stable source of income.
And later, you must have funds to sustain your investment for the long term, when you face an emergency or unexpected expense, you must have this preparation and mindset so that you can handle the situation without getting into any problems.
However, in preparing emergency funds, you do not need to prepare emergency funds before investing, because this may delay your investment, which is never the right thing to do.
Invest first, then ensure the long-term security of your investment by preparing funds as soon as possible, and keep the investment consistent, then it will give you a better chance of success.

I think it actually depends on individual case and risk level. Investing in Bitcoin with no reserve fund can easily get one into a panic situation when an emergency arises and only has no alternative but to sell off his Bitcoin at an inconvenient moment where most times it will be a loss. That is why in my case it makes more sense to create a certain financial cushion first, although it may be worthwhile to put off the beginning of investment somewhat. Having that safety net provides the benefits of holding in Bitcoin through volatility without fear in the long run. It is important to be consistent with buying but when your personal finances are not stable it is extremely difficult to be consistent. By developing a solid foundation, then you will be able to invest with confidence, as you are following your long term plan and not making any emotional decisions when the market moves. Ultimately there must be stability and consistency but I think that the stability must always come first in order to make the investment journey count.

[Cgrexp]

[Edited out]
DCA defeats any strategy of dip chasing. Normal people would not even have time to consider something such as dip chasing. Find a way to make DCA automated, set it up and forget it. Come back in a decade or two and see where you stand. One of the best ways to do it.  As long as you don't look frequently, you will never have temptation to sell.

The beauty of DCA strategy is that it removes thee stress of chasing the dip or perfectly timing the market. Imagine someone decides to invest $10 into Bitcoin every week without worrying about the pricee movement.......That’s equivalent to $40 a month and about $480 in a year. Now if we stretch the guy's 1 year investment over 5 to 10 years. That's around  $2,400 to $4,800 invested little by little, and if Bitcoin keeps on growing over the long term, as it has done in the past, that ur steady habit can build up massive wealth for you. And the best part of it all is that one do not need to worry about checking the the charts or the short term price movement.

There is a difference scenario here, you can still find out that at this stage in time, you could be accumulating at that point, at some point you will understand that you’re not satisfied with your level of accumulation and buying bitcoin, you might still want to work on your cash flow and other finances to try and increase your discretionary income, even if you try to accumulate at that amount you will understand that you might not accumulate enough bitcoin into your discretionary income, but the most important thing is to get started and accumulate as little as it is into our bitcoin portfolio.

If someone wants to start investing, then first of all, he has to determine the amount of his investment. Before starting investing, we have to allocate our own financial plan and budget. In this case, we should invest such an amount that if lost, our normal life will not be affected. If the question of investment strategy comes, then of course I will talk about the DCA method. If someone wants, they can start investing with a very small amount from their earned money, such as $ 10. In addition, they do not have to worry about price fluctuations. However, only the DCA strategy is not enough, financial planning and mental preparation are also important. Without proper budget management, there is no financial security. If there is no financial security, then it is natural to panic about market fluctuations and make wrong decisions. Therefore, proper budget management of the earned money must be maintained and an emergency fund must be established. Because if there is no emergency fund system, unexpected situations may arise in life where we are forced to withdraw from investment. So for long-term prosperity, establish an emergency fund, be patient and invest consistently according to the DCA method.

[Olatundespo]

~snip

The Bitcoin market is always volatile and those who have managed to avoid this volatility for the long term have achieved success, and those who can maintain this continuity in the future can certainly achieve good success.

As an investor is it really possible to avoid volatility since we all know that volatility is an integral part of the bitcoin market? So I am wondering how can someone avoid volatility for the long term? What you said here is totally wrong in my perspective. Do I need remind you that volatility is the upward and downward movement of bitcoin price over time. So how do you avoid bitcoin price volatility when you have bitcoin in your portfolio and still be successful?

Note: I am just a newbie trying to learn new things every day.

Volatility is an integral part of the Bitcoin market. You asked a question, is it possible to avoid volatility? The answer is yes, it is possible. Consider that you have a discretionary income stream coming in every week and you want to accumulate Bitcoin from it. This is the only way to reduce your mental volatility. If I explain it to you a little more clearly maybe you will be able to understand it better. If you consistently accumulate Bitcoin in the DCA method it will not only grow your portfolio but also gain extensive experience in the market due to the long term nature of the market as the price of Bitcoin is volatile and you continue to hold Bitcoin without any stress. When you are continuing to create holding you will be able to create a investment defence wall regardless of market volatility and your financial strength will continue to grow over time.

[Jostern]

~snip

The Bitcoin market is always volatile and those who have managed to avoid this volatility for the long term have achieved success, and those who can maintain this continuity in the future can certainly achieve good success.

As an investor is it really possible to avoid volatility since we all know that volatility is an integral part of the bitcoin market? So I am wondering how can someone avoid volatility for the long term? What you said here is totally wrong in my perspective. Do I need remind you that volatility is the upward and downward movement of bitcoin price over time. So how do you avoid bitcoin price volatility when you have bitcoin in your portfolio and still be successful?

Note: I am just a newbie trying to learn new things every day.

Volatility is an integral part of the Bitcoin market. You asked a question, is it possible to avoid volatility? The answer is yes, it is possible. Consider that you have a discretionary income stream coming in every week and you want to accumulate Bitcoin from it. This is the only way to reduce your mental volatility. If I explain it to you a little more clearly maybe you will be able to understand it better. If you consistently accumulate Bitcoin in the DCA method it will not only grow your portfolio but also gain extensive experience in the market due to the long term nature of the market as the price of Bitcoin is volatile and you continue to hold Bitcoin without any stress. When you are continuing to create holding you will be able to create a investment defence wall regardless of market volatility and your financial strength will continue to grow over time.

I’m quite confused, on how possible it is to avoid the volatility with your response, Volatility is just a part of the Bitcoin ecosystem, whichever way we choose Bitcoin will always be volatile, and there is nothing anyone can do about it, but what you owe yourself is to try and have a discretionary income, and you can conquer the volatility nature by accumulating with the DCA, but that still doesn’t mean that we can be able to avoid volatility nature, sometimes it will also present different opportunities in the market and if you have money you can as well take the advantage

[Finebone]

Volatility is an integral part of the Bitcoin market. You asked a question, is it possible to avoid volatility? The answer is yes, it is possible. Consider that you have a discretionary income stream coming in every week and you want to accumulate Bitcoin from it. This is the only way to reduce your mental volatility. If I explain it to you a little more clearly maybe you will be able to understand it better. If you consistently accumulate Bitcoin in the DCA method it will not only grow your portfolio but also gain extensive experience in the market due to the long term nature of the market as the price of Bitcoin is volatile and you continue to hold Bitcoin without any stress. When you are continuing to create holding you will be able to create a investment defence wall regardless of market volatility and your financial strength will continue to grow over time.

It seems like you are a bit confused here, am talking of the highlighted statement in your write up, because to the best of my knowledge, volatility is one of the nature of Bitcoin, so is their anyway to avoid it completely? No.
Their is no point getting worked up about volatility because it's part and parcel of bitcoin, so the ideal thing to do is to keep on buying Bitcoin consistently either weekly or monthly, because this current price of Bitcoin is no where near the price it might rise up to in the future, so why disturbing yourself about volatility when the price is till cheap now regardless of how volatile the market is?
Just try am accumulate a huge of bitcoin and hold, because in the future you will be very happy with yourself that you take action now that it's still very cheap.

[Cgrexp]

...

I agree that having safety net like reserve fund and steady income is important for investing in Bitcoin. But you can invest without them it brings much of stress and risk. As you said worrying about covering unexpected bills can force you to sell your Bitcoin at bad time which can cause you to lose money. Having strong financial base allows you to invest with confidence handle market ups and downs without panicking and stick to successful long term plan. Your advice is great it is important to build financial security first.

It's not enough to just invest in Bitcoin, but you have to effectively hold your investment for the long term, and it's important to take all the necessary measures for this.
You must create financial stability, you must continue to invest in Bitcoin consistently by keeping a stable source of income.
And later, you must have funds to sustain your investment for the long term, when you face an emergency or unexpected expense, you must have this preparation and mindset so that you can handle the situation without getting into any problems.
However, in preparing emergency funds, you do not need to prepare emergency funds before investing, because this may delay your investment, which is never the right thing to do.
Invest first, then ensure the long-term security of your investment by preparing funds as soon as possible, and keep the investment consistent, then it will give you a better chance of success.

I think it actually depends on individual case and risk level. Investing in Bitcoin with no reserve fund can easily get one into a panic situation when an emergency arises and only has no alternative but to sell off his Bitcoin at an inconvenient moment where most times it will be a loss. That is why in my case it makes more sense to create a certain financial cushion first, although it may be worthwhile to put off the beginning of investment somewhat. Having that safety net provides the benefits of holding in Bitcoin through volatility without fear in the long run. It is important to be consistent with buying but when your personal finances are not stable it is extremely difficult to be consistent. By developing a solid foundation, then you will be able to invest with confidence, as you are following your long term plan and not making any emotional decisions when the market moves. Ultimately there must be stability and consistency but I think that the stability must always come first in order to make the investment journey count.

You are absolutely right that it is important to have an emergency fund so that we do not have to sell Bitcoin at a difficult moment and of course we must have an emergency fund before investing. There are most new investors who enter the investment but do not make their financial plan and emergency fund before entering. If we have a long-term investment goal, we must create a solid foundation so that we do not have to withdraw from our investment in any unpleasant situation.
Suppose two new investors start their investment. One has started the investment with his proper financial plan and emergency fund And another invests a portion of his earned money but has no emergency savings or proper financial planning. Now if any unexpected event or personal emergency comes, but the first person can easily deal with the situation from his emergency fund and in this case, his investment will not be affected. But the other person who does not have an emergency fund will be forced to withdraw from his investment or he will have to take a loan to deal with his bad situation.  Not just new investors, but every investor should have an emergency fund in place so that they don't have to break their investment to deal with unexpected expenses or situations. Therefore, having an emergency fund is very important for long-term planning and maintaining continuity.

[AYOBA]

You are absolutely right that it is important to have an emergency fund so that we do not have to sell Bitcoin at a difficult moment and of course we must have an emergency fund before investing. There are most new investors who enter the investment but do not make their financial plan and emergency fund before entering. If we have a long-term investment goal, we must create a solid foundation so that we do not have to withdraw from our investment in any unpleasant situation.

Because of this kind of situation that some of the people find themselves in whenever they invest in the Bitcoin, they say that it’s good for anyone who has interest to invest in the Bitcoin to make sure he/she has plans for himself/herself so that even after they’ve invested and something comes up, they don’t bother to sell their Bitcoin at the wrong time, no matter how difficult the moment they find themselves in.

But some of the investors will lack a financial plan, and they will not like to learn how they can make their financial plan before investing in the Bitcoins. And because of this, most of the people lost their funds in the investment when the emergency came up, and they didn’t have any money on hand to use to solve the problems.

[Spaceman1000$]

~snip

The Bitcoin market is always volatile and those who have managed to avoid this volatility for the long term have achieved success, and those who can maintain this continuity in the future can certainly achieve good success.

As an investor is it really possible to avoid volatility since we all know that volatility is an integral part of the bitcoin market? So I am wondering how can someone avoid volatility for the long term? What you said here is totally wrong in my perspective. Do I need remind you that volatility is the upward and downward movement of bitcoin price over time. So how do you avoid bitcoin price volatility when you have bitcoin in your portfolio and still be successful?

Note: I am just a newbie trying to learn new things every day.

Volatility is an integral part of the Bitcoin market. You asked a question, is it possible to avoid volatility? The answer is yes, it is possible. Consider that you have a discretionary income stream coming in every week and you want to accumulate Bitcoin from it. This is the only way to reduce your mental volatility. If I explain it to you a little more clearly maybe you will be able to understand it better. If you consistently accumulate Bitcoin in the DCA method it will not only grow your portfolio but also gain extensive experience in the market due to the long term nature of the market as the price of Bitcoin is volatile and you continue to hold Bitcoin without any stress. When you are continuing to create holding you will be able to create a investment defence wall regardless of market volatility and your financial strength will continue to grow over time.

Am really finding it difficult to understand what you mean by mental volatility, volatility in bitcoin simply refers to the market price unstable movement, which sometimes can be very unpredictable, so it's very unlikely for you to say volatility can be avoided given the explanation you gave. Discretionary income is simply the funds reserves for your bitcoin investment, using it side by side to illustrate volatility sounds confusing for me, maybe you could do a little more explanation on what that means, however I sincerely agree with your submission on the DCA method in terms consistency in accumulation.

[SmartCharpa]

You are absolutely right that it is important to have an emergency fund so that we do not have to sell Bitcoin at a difficult moment and of course we must have an emergency fund before investing. There are most new investors who enter the investment but do not make their financial plan and emergency fund before entering. If we have a long-term investment goal, we must create a solid foundation so that we do not have to withdraw from our investment in any unpleasant situation.

Because of this kind of situation that some of the people find themselves in whenever they invest in the Bitcoin, they say that it’s good for anyone who has interest to invest in the Bitcoin to make sure he/she has plans for himself/herself so that even after they’ve invested and something comes up, they don’t bother to sell their Bitcoin at the wrong time, no matter how difficult the moment they find themselves in.

But some of the investors will lack a financial plan, and they will not like to learn how they can make their financial plan before investing in the Bitcoins. And because of this, most of the people lost their funds in the investment when the emergency came up, and they didn’t have any money on hand to use to solve the problems.

It is very important for anyone who wants to invest in Bitcoin to plan properly and remain consistent with their investment. When we decide to save part of our money in Bitcoin, we must ensure that other responsibilities have already been taken care of and that we set aside some cash for emergencies. This way, we won’t be forced to sell portions of our holdings when we are not in a good position to do so.

Many people think Bitcoin is an investment where one can easily lose money, but most of the time this happens because they did not plan well and ended up selling during a dip. While it is possible to build your portfolio and still have money for other needs, you must understand that your decisions should not put you in a difficult situation. Some people believe they can become financially comfortable by continuing investing, but without proper planning, they may give up during the journey.

[BTC_pokaop]

There is a saying in our native language, from whatever you earn, keep some part for basic needs and save the rest for the future. Maybe one day you will fall ill and you will be able to remove your illness and lack and basic needs through savings. Exactly, I want to add something more to your words, because a daily wage earner earns some income. And he must keep some part of the income aside for the future, exactly what I want to say is that it is most important to connect those saved money with Bitcoin. Because the more you deposit in Bitcoin, the better you will be able to move forward economically, it is possible to achieve multiple benefits.

If you are a low-income person, you should not invest all your savings. Because as you mentioned, you need to save for the future, but if you invest all your savings, we know that if you invest in Bitcoin, you should hold it for a long time. Now if you invest all your savings, how will you get treatment if you get sick? So after meeting your needs with your income, you should not invest the entire amount, you should keep a fund for emergencies.

[AirtelBuzz]

Regarding reserve funds and a stable, solid cash flow, I don't think we can conclude that Bitcoin investors who have these are traders. Honestly, logically and from a comfort level, having a reserve fund and a stable cash flow is much better. While it's true that having both isn't a necessity for Bitcoin investors, if I had to choose, I would definitely choose to have a reserve fund and a stable cash flow when investing in Bitcoin. Just try it and experience what it's like to invest in Bitcoin without a reserve fund and a stable cash flow. I'm sure it will definitely shake your Bitcoin holding. Essentially, our living expenses are crucial. Therefore, I don't think we should underestimate the importance of a reserve fund and a stable cash flow when investing in Bitcoin. So, if you're currently investing in Bitcoin and don't yet have a reserve fund and a stable cash flow. I think it's inevitable that we have to fight to have both. So don't think that either aspect is unimportant.

I agree that having safety net like reserve fund and steady income is important for investing in Bitcoin. But you can invest without them it brings much of stress and risk. As you said worrying about covering unexpected bills can force you to sell your Bitcoin at bad time which can cause you to lose money. Having strong financial base allows you to invest with confidence handle market ups and downs without panicking and stick to successful long term plan. Your advice is great it is important to build financial security first.

Literally it is true that paying bills and paying fee are part of daily expenses, instead of all these things, the compatibility of Bitcoin investment is important to us, although meeting the essential content requirements must be prioritized first. This is why an emergency fund is needed to be financially secure in advance, which is a financial safety net. You may have mentioned two things here, building an emergency fund or financial security but you might be a little shocked to learn that they are related to each other. As far as I know financial security is a Larger concept, as all the basic expenses we have to meet on a daily basis are completed through short term funds. On the other hand an emergency fund is only for unexpected moments, It is even true to a large extent that a strong financial foundation is essential for long-term successful investment and allows you to invest in Bitcoin with confidence in the face of market volatility.

[xiamin]

There is a saying in our native language, from whatever you earn, keep some part for basic needs and save the rest for the future. Maybe one day you will fall ill and you will be able to remove your illness and lack and basic needs through savings. Exactly, I want to add something more to your words, because a daily wage earner earns some income. And he must keep some part of the income aside for the future, exactly what I want to say is that it is most important to connect those saved money with Bitcoin. Because the more you deposit in Bitcoin, the better you will be able to move forward economically, it is possible to achieve multiple benefits.

If you are a low-income person, you should not invest all your savings. Because as you mentioned, you need to save for the future, but if you invest all your savings, we know that if you invest in Bitcoin, you should hold it for a long time. Now if you invest all your savings, how will you get treatment if you get sick? So after meeting your needs with your income, you should not invest the entire amount, you should keep a fund for emergencies.

Not the low income person but the people of any income should not use the entire fund for investment. Base on the basic knowledge about Bitcoin, it is understood that it is a valuable and volatile asset, so its value can fall at any time. Despite the high probability of its value going up you should invest assuming the possibility of a fall. Bitcoin Investment should be done through long term accumulation and discretionary income. Investing through all funds will be a wrong decision for any investor. You should not only deposit money for medical expenses but you keep cash funds aside for any family emergency. It will also be a good decision to long term Bitcoin investment. Basic knowledge taught me that investing in Bitcoin is about money that you can afford to lose.

[Hewlet]

There is a saying in our native language, from whatever you earn, keep some part for basic needs and save the rest for the future. Maybe one day you will fall ill and you will be able to remove your illness and lack and basic needs through savings. Exactly, I want to add something more to your words, because a daily wage earner earns some income. And he must keep some part of the income aside for the future, exactly what I want to say is that it is most important to connect those saved money with Bitcoin. Because the more you deposit in Bitcoin, the better you will be able to move forward economically, it is possible to achieve multiple benefits.

If you are a low-income person, you should not invest all your savings. Because as you mentioned, you need to save for the future, but if you invest all your savings, we know that if you invest in Bitcoin, you should hold it for a long time. Now if you invest all your savings, how will you get treatment if you get sick? So after meeting your needs with your income, you should not invest the entire amount, you should keep a fund for emergencies.

While you are structuring what ratio of your income will go into what, there ought to be provision for your investment, provision for your emergency fund and provision for your normal expenses. as long as you have sorted this aspect of your finance well enough, you do not have an issue again even when you are considering making allocation for your emergency medical needs that might come up unplanned.

If you make adequate provision for your emergency fund, it should be enough to carter for your medical expenses regardless of how impromptu the medical emergency comes in. actually, the reason why it is called emergency fund is because it is designed to sort out emergencies like this. even if you are a low income earner and by that you might not have all it takes to invest, sort out your needs and still get spare that goes into your emergency funds box, you can still split your earning into percentages so though your allocation might not be much, you are still certain that you are dropping something for each of those areas since they are your core necessity.

[9ja Amaka]

It's not enough to just invest in Bitcoin, but you have to effectively hold your investment for the long term, and it's important to take all the necessary measures for this.

10 years ago, if you invested any amount in less than 2 years you should be having a good profit from Bitcoin. The rise of Bitcoin grew faster after the first pump not until it hard the first bearish period which gave new investors chances to trust the process to invest. But times have changed a lot. If you want to be profitable in Bitcoin comfortable, then you shouldn't be investing for now rather you should be investing for the future. Once you have this mentality I doubt any circumstance will push you to tamper your Bitcoin as long as you follow every process accordingly.

Adding to what you said, every step of the way is very important when investing for the future. You cant skip not having an emergency fund and savings. Also, there must be a preferred strategy that should be implemented consistently. Failure to follow due process can only lead to the investor tampering his/her Bitcoin and the consequences is reducing the fractions they have been able to accumulate even if they feel they withraw on profit.

[Umulala-alala]

Regarding reserve funds and a stable, solid cash flow, I don't think we can conclude that Bitcoin investors who have these are traders. Honestly, logically and from a comfort level, having a reserve fund and a stable cash flow is much better. While it's true that having both isn't a necessity for Bitcoin investors, if I had to choose, I would definitely choose to have a reserve fund and a stable cash flow when investing in Bitcoin. Just try it and experience what it's like to invest in Bitcoin without a reserve fund and a stable cash flow. I'm sure it will definitely shake your Bitcoin holding. Essentially, our living expenses are crucial. Therefore, I don't think we should underestimate the importance of a reserve fund and a stable cash flow when investing in Bitcoin. So, if you're currently investing in Bitcoin and don't yet have a reserve fund and a stable cash flow. I think it's inevitable that we have to fight to have both. So don't think that either aspect is unimportant.

I agree that having safety net like reserve fund and steady income is important for investing in Bitcoin. But you can invest without them it brings much of stress and risk. As you said worrying about covering unexpected bills can force you to sell your Bitcoin at bad time which can cause you to lose money. Having strong financial base allows you to invest with confidence handle market ups and downs without panicking and stick to successful long term plan. Your advice is great it is important to build financial security first.

It's not enough to just invest in Bitcoin, but you have to effectively hold your investment for the long term, and it's important to take all the necessary measures for this.
You must create financial stability, you must continue to invest in Bitcoin consistently by keeping a stable source of income.
And later, you must have funds to sustain your investment for the long term, when you face an emergency or unexpected expense, you must have this preparation and mindset so that you can handle the situation without getting into any problems.
However, in preparing emergency funds, you do not need to prepare emergency funds before investing, because this may delay your investment, which is never the right thing to do.
Invest first, then ensure the long-term security of your investment by preparing funds as soon as possible, and keep the investment consistent, then it will give you a better chance of success.

You shouldn't wait to have a stable source of income before you can start buying bitcoin people with low income are still investing in bitcoin, if you have your discretionary income ready, there is a way you can be buying with your discretionary income and then make plans of increasing your finance so you can sustain your investment for a longer time, with the dca strategy you can be consistently buying bitcoin either by weeks or months and hodl for long. Human wants are insatiable you many not be satisfy trying to get a stable income which can stop you from investing in bitcoin and the more you wait the more you are killing more buying time.

[Kelward]

That's how it seems like because with the small knowledge I had in technical analysis, you can see that Bitcoin has formed a head and shoulder chart pattern on the weekly timeframe, which is a very strong sign that it might even dip to $94k which we have the next strong support, but am not counting on that in my accumulation, because what I just have to do is to add more money to my reserve in other to buy aggressively if it eventually happens because that's a lifetime opportunity that may never come again because after that big pullback, the upward momentum will continue, but before then, keep on accumulating through the dca accumulating strategy in other no to be left behind bro if the dip never came as expected, since nothing is certain in the market.

It is how it should be, focus on the DCA strategy no matter where the technical analysis is pointing to, it is traders that should worry about that because they're all about short term goals. If your goal is to continually buy and hodl for the long term then dip shouldn't make you to panic, as a matter of fact it should be opportunity to get a little bit aggressive with your buying. If you can top the funds that you use to buy Bitcoin from your discretionary funds without causing damage to other budgeted funds then you should do it. Every dip should be an opportunity to increase your buying so far you can afford to do it.

[Stormisover]

...

I agree that having safety net like reserve fund and steady income is important for investing in Bitcoin. But you can invest without them it brings much of stress and risk. As you said worrying about covering unexpected bills can force you to sell your Bitcoin at bad time which can cause you to lose money. Having strong financial base allows you to invest with confidence handle market ups and downs without panicking and stick to successful long term plan. Your advice is great it is important to build financial security first.

It's not enough to just invest in Bitcoin, but you have to effectively hold your investment for the long term, and it's important to take all the necessary measures for this.
You must create financial stability, you must continue to invest in Bitcoin consistently by keeping a stable source of income.
And later, you must have funds to sustain your investment for the long term, when you face an emergency or unexpected expense, you must have this preparation and mindset so that you can handle the situation without getting into any problems.
However, in preparing emergency funds, you do not need to prepare emergency funds before investing, because this may delay your investment, which is never the right thing to do.
Invest first, then ensure the long-term security of your investment by preparing funds as soon as possible, and keep the investment consistent, then it will give you a better chance of success.

I think it actually depends on individual case and risk level. Investing in Bitcoin with no reserve fund can easily get one into a panic situation when an emergency arises and only has no alternative but to sell off his Bitcoin at an inconvenient moment where most times it will be a loss. That is why in my case it makes more sense to create a certain financial cushion first, although it may be worthwhile to put off the beginning of investment somewhat. Having that safety net provides the benefits of holding in Bitcoin through volatility without fear in the long run. It is important to be consistent with buying but when your personal finances are not stable it is extremely difficult to be consistent. By developing a solid foundation, then you will be able to invest with confidence, as you are following your long term plan and not making any emotional decisions when the market moves. Ultimately there must be stability and consistency but I think that the stability must always come first in order to make the investment journey count.

You are absolutely right that it is important to have an emergency fund so that we do not have to sell Bitcoin at a difficult moment and of course we must have an emergency fund before investing. There are most new investors who enter the investment but do not make their financial plan and emergency fund before entering. If we have a long-term investment goal, we must create a solid foundation so that we do not have to withdraw from our investment in any unpleasant situation.
Suppose two new investors start their investment. One has started the investment with his proper financial plan and emergency fund And another invests a portion of his earned money but has no emergency savings or proper financial planning. Now if any unexpected event or personal emergency comes, but the first person can easily deal with the situation from his emergency fund and in this case, his investment will not be affected. But the other person who does not have an emergency fund will be forced to withdraw from his investment or he will have to take a loan to deal with his bad situation.  Not just new investors, but every investor should have an emergency fund in place so that they don't have to break their investment to deal with unexpected expenses or situations. Therefore, having an emergency fund is very important for long-term planning and maintaining continuity.

This has been overly discussed here, you must not have your emergency funds ready before you start investing since it can be done simultaneously while accumulating Bitcoin, with the help of DCA strategy you can be buying Bitcoin at the same time building your emergency funds, the most important thing is to figure out your discretionary income with good funds allocation plans, we can't keep waiting to build an emergency funds first but it has to be considered alongside accumulating Bitcoin, emergency funds is important but it is not the first criteria before starting to buy Bitcoin, the first step is to have a discretionary income other things can be improving including building an emergency funds.

~snip

The Bitcoin market is always volatile and those who have managed to avoid this volatility for the long term have achieved success, and those who can maintain this continuity in the future can certainly achieve good success.

As an investor is it really possible to avoid volatility since we all know that volatility is an integral part of the bitcoin market? So I am wondering how can someone avoid volatility for the long term? What you said here is totally wrong in my perspective. Do I need remind you that volatility is the upward and downward movement of bitcoin price over time. So how do you avoid bitcoin price volatility when you have bitcoin in your portfolio and still be successful?

Note: I am just a newbie trying to learn new things every day.

Volatility is an integral part of the Bitcoin market. You asked a question, is it possible to avoid volatility? The answer is yes, it is possible. Consider that you have a discretionary income stream coming in every week and you want to accumulate Bitcoin from it. This is the only way to reduce your mental volatility. If I explain it to you a little more clearly maybe you will be able to understand it better. If you consistently accumulate Bitcoin in the DCA method it will not only grow your portfolio but also gain extensive experience in the market due to the long term nature of the market as the price of Bitcoin is volatile and you continue to hold Bitcoin without any stress. When you are continuing to create holding you will be able to create a investment defence wall regardless of market volatility and your financial strength will continue to grow over time.

Your explanation about the possibility of avoiding volatility is very vague

[Justbillywitt]

It's good that you have now realised this yourself, so I think it's best you should edit your previous post where you initially said that bitcoin will get to that price next week and make necessary adjustments.

It's merely excitement, ser. But we DO know that Bitcoin WILL surge over and ABOVE $120,000 sooner or later, then SURGE again to $250,000, and AGAIN TO $500,000 and ABOVE.

Tell me if I'm lying.

No you ain't lying this time around, it is expected that bitcoin will do better in the future in terms of price appreciation, that's why investors are encouraged to keep accumulating as they can afford and in their own pace. I like how you placed your words this time around. "Sooner or later"  it has no definitive timeline unlike the other post were you gave a timeframe. Maybe you were too over excited then 😁 even though we have every right to be excited, but it is important that we cut expectations low, to avoid being too disappointed should incase things don't go as we expected.

The point is, yes in my excitement, I sometimes post something stupid like making something look absolute even though I should post it in a more probabilistic way. BUT are we really wrong if we say that Bitcoin will surge "tomorrow" if we already know that the Central Bankers have a sort of LONG-TERM motivation to devalue fiat?

Speaking from investor perspective I will say you are wrong if you say that bitcoin will surge "tomorrow" because you lack proof to back up your claim. I prefer using the using the term "future" when we are talking about  of bitcoin price surging. When we say future it is infinite, but tomorrow gives us a finite mindset and whereas we don't have proof of it happening. But when we use future and it it surges tomorrow you are still right because tomorrow is still part of the future, and pressure won't be on you and it won't appear like you are timing the market. But if you say tomorrow there will be pressure on you for it to happen and if it doesn't you have mislead people who listened to you and made panic buy with the believe that it will happen as you have said. And it also makes you look like you are timing the market, which is not good.


Bitcoin is a "hack" Satoshi built so that plebs like us could use it to beat inflation. For better or worse, that's the main reason why the supply is capped.
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Yes we the plebs can't thank Satoshi enough for what he did by inventing bitcoin and returning the power of self custody and freedom to the people and gave hope to plebs like us. But we plebs have to be careful not to get ahead of ourselves. Let us calm down and enjoy what Satoshi has kept for us.