Buy the DIP, and HODL!

[Nightwatchmare]

I've been investing by buying Bitcoin bit by bit, adjusting to my financial capabilities. Initially, everything was going well, and this continued for quite some time, but an unexpected situation occurred that forced me to sell my investment. Although I had an emergency fund, it wasn't sufficient, so I had no choice but to sell it.

What went wrong with that incident? I personally think the problem was my emergency fund, which may have been inadequate. If I had prepared a slightly larger emergency fund, it might not have affected my investment.

But even though I sold it, there was a positive side: the investment helped me in an emergency. Going forward, I will invest again using the DCA strategy and pay more attention to my emergency fund. Although I could have handled the emergency situation with borrowing, I don't want to borrow for my own reasons. There are lessons I learned here, and I will use them as a basis for future evaluation.

I do not know the type of emergency you had that your emergency funds could not help you to take care of, but it seems you did not invest in Bitcoin with discretionary income because you just started accumulating Bitcoin, and you have not invested a big amount of money in Bitcoin that will be enough for you to sell off your Bitcoin investment and use the proceeds to take care of your emergency. Even if you start investing in Bitcoin for the second time without using discretionary income, you will still end up getting yourself out of Bitcoin investment when you do not expect it. For you to protect your Bitcoin investment and hold your Bitcoin for a long time, you should always prioritise taking care of your day-to-day expenses and use discretionary income to invest in Bitcoin and build your emergency funds gradually so you can always take care of your emergencies whenever they occur.

[Graph001]

There is no doubt that Bitcoin has proven itself as a valuable asset in the world today. Even after all these ups and downs, Bitcoin is still alive. If someone can maintain a long-term investment here, then there is no doubt that it will definitely be profitable. But that does not mean that you can force someone to invest in Bitcoin, be it your family, relatives, friends, or acquaintances. Because even if they are close to you, their way of thinking, lifestyle, and situation will not match yours. Your risk tolerance is not the same as their risk tolerance. It may be that you forced them to buy Bitcoin, but seeing the volatility in the market, they panicked and made the wrong decision. What is easy for you may be complicated for someone else.

Yes, the point is that BTC is still a good asset and many people are not disappointed with investing in BTC because the price of BTC always goes up and sets new all-time highs.

You only speak of the positive side of Bitcoin and seem to be neglecting the downtown or risky part of Bitcoin, that Bitcoin also has the ability to decline(a fall in market price) at any time due to its volatile nature. Saying that bitcoin ALWAYS goes high and creates a new all time high record might be decieving especially to Newbie investors. It must be stated clearly that it's always in an upward and downward movement, so that anyone coming into Bitcoin investment would have that in mind and adopt a more favourable accumulation strategy(DCA) that would help for easy and stress free accumulation process. This will also help newbies know the importance of only investing into Bitcoin from there discretionary income(left over money after settling basic needs) since the price is always fluctauting.

And secondly, we don't force people to invest in bitcoin, No way! Bitcoin investment should be a game of interest first, then the ability to figure out what there discretionary income is, and then the interested investor can begin accumulating Bitcoin gradually while also learning best investment practices that will suit his cash flow and income allocation and management. Of course, interest is always the driving force to anything one wants to do, and thus, people should not be sweet talked into investing in bitcoin because it also has its own risk side.

Look, we all know that Bitcoin is volatile, but the thing is, not all of us can handle this volatility of Bitcoin. There are many of us who cannot take the pressure of financial matters or do not like it. And I myself do not force anyone to invest here. If someone wants to know about it, I tell them both the positive and negative sides of Bitcoin and then the rest depends on them. Because there is a huge difference between making money and controlling money. There is no guarantee that anyone will be successful just by knowing the good and bad sides. For this, patience, proper financial management, self-control and discipline are required.

[yixichloro2xx]

With bitcoin, you have one of the best, if not the best, of assets available to you, and you want to fuck around trying to trade it rather than accumulate it?

You also want to suggest that there is some prudence in trading when more likely ar0und 95% or more of traders are either losing money orfailing to outperform simply buying and accumulating bitcoin, especially if we are talking a couple of cycles or more.

How many traders could have had beat a bitcoin accumulation strategy if the timeline is longer than 8 years?

You act as if it is possible to get better at your trading, and sure that is probably true that folks can spend time trading and they can get better, yet it is still likely not very common for anyone to actually be able to beat bitcoin in a timeline that is more than 8 years, so we should not be acting as if trading bitcoin is either normal or something that should be attempted - except maybe with less than 10% of the size of the bitcoin holdings for those folks who are so degenerate that they cannot resist trading (gambling) with their bitcoin, so if they could at least limit their exposure to trading to less than 10% the size of their bitcoin holdings, then at least they would limit their losses, yet part of the problem with trading/gambling is that there difficulties in controlling the devolution and temptations to add more and more and more until they end up losing all of their money when they otherwise could have had a good investment into bitcoin..

By the way CryptoPanda, this is not even a trading thread, even though there is "buy the dip" in the title.

You have been registered on the forum since November 2012.  Holy shit.  You still are fucking around with trading or believing in trading likely shows that you have not learned any lessons in the past 13-ish years... You could be rich as fuck right now even if you had ONLY invested a relative small amount into bitcoin over the past 13 years and if you had not fucked around with trading.. yet I bet your own holdings are not even close to being competitive with a basic buy and hold strategy.. Yet, what?  you think that the future for trading in bitcoin is going to be better than its past?  I will grant you that it is likely that bitcoin is not going to appreciate as much as it had been in the last 13 years, so the price dynamics in bitcoin are likely going to be less steep to the upside as they had been in the past 13 years.

People should really know better than to keep fucking around with trading bitcoin. Trading Bitcoin is like gambling with your money and that's total bullshit, and people should always stay the hell away from it. Some traders will always want to think that they are different simply because of a few wins but yet their story always end up like the others. Really let's traders stop with the pretense, Trading is mentally exhausting, stressful but yet can never still be better than holding. Holding Bitcoin always beats trading anyday and anytime.

There's is no fun in trading it's just  a waste of time and energy, the losses there are in unimaginable. The risk at trading is x10 times  that of investing. You know, traders wants quick money, they don't know the meaning of long term growth, that why they jump in from one trade to another with different strategies, hoping to see profit. At times a trader might only see profit once a week or sometimes their full week might end in losses. Hadn't they have been using that capital that they are burning day and night to invest in bitcoin, they would have seen massive rewards from it .

[reagansimms]

~~~

There's is no fun in trading it's just  a waste of time and energy, the losses there are in unimaginable. The risk at trading is x10 times  that of investing. You know, traders wants quick money, they don't know the meaning of long term growth, that why they jump in from one trade to another with different strategies, hoping to see profit. At times a trader might only see profit once a week or sometimes their full week might end in losses. Hadn't they have been using that capital that they are burning day and night to invest in bitcoin, they would have seen massive rewards from it .

This is why trading is not suitable for everyone. The high risks and uncertainty involved can be frustrating for traders. Furthermore, trading can be mentally and financially draining for anyone who doesn't fully understand what trading is all about. Those who frequently switch strategies may want to make quick profits, this mindset often gets trapped in an unrealistic “get rich quick” situation. In my opinion, long-term investment (especially Bitcoin) is a good choice if done with the right strategy (DCA), although it cannot be denied that every investment has risks, but with the DCA method Investors can reduce risk because they buy assets regularly at an average price so they don't have to worry about high or low prices.

[avp2306]

With bitcoin, you have one of the best, if not the best, of assets available to you, and you want to fuck around trying to trade it rather than accumulate it?

You also want to suggest that there is some prudence in trading when more likely ar0und 95% or more of traders are either losing money orfailing to outperform simply buying and accumulating bitcoin, especially if we are talking a couple of cycles or more.

How many traders could have had beat a bitcoin accumulation strategy if the timeline is longer than 8 years?

You act as if it is possible to get better at your trading, and sure that is probably true that folks can spend time trading and they can get better, yet it is still likely not very common for anyone to actually be able to beat bitcoin in a timeline that is more than 8 years, so we should not be acting as if trading bitcoin is either normal or something that should be attempted - except maybe with less than 10% of the size of the bitcoin holdings for those folks who are so degenerate that they cannot resist trading (gambling) with their bitcoin, so if they could at least limit their exposure to trading to less than 10% the size of their bitcoin holdings, then at least they would limit their losses, yet part of the problem with trading/gambling is that there difficulties in controlling the devolution and temptations to add more and more and more until they end up losing all of their money when they otherwise could have had a good investment into bitcoin..

By the way CryptoPanda, this is not even a trading thread, even though there is "buy the dip" in the title.

You have been registered on the forum since November 2012.  Holy shit.  You still are fucking around with trading or believing in trading likely shows that you have not learned any lessons in the past 13-ish years... You could be rich as fuck right now even if you had ONLY invested a relative small amount into bitcoin over the past 13 years and if you had not fucked around with trading.. yet I bet your own holdings are not even close to being competitive with a basic buy and hold strategy.. Yet, what?  you think that the future for trading in bitcoin is going to be better than its past?  I will grant you that it is likely that bitcoin is not going to appreciate as much as it had been in the last 13 years, so the price dynamics in bitcoin are likely going to be less steep to the upside as they had been in the past 13 years.

People should really know better than to keep fucking around with trading bitcoin. Trading Bitcoin is like gambling with your money and that's total bullshit, and people should always stay the hell away from it. Some traders will always want to think that they are different simply because of a few wins but yet their story always end up like the others. Really let's traders stop with the pretense, Trading is mentally exhausting, stressful but yet can never still be better than holding. Holding Bitcoin always beats trading anyday and anytime.

There's is no fun in trading it's just  a waste of time and energy, the losses there are in unimaginable. The risk at trading is x10 times  that of investing. You know, traders wants quick money, they don't know the meaning of long term growth, that why they jump in from one trade to another with different strategies, hoping to see profit. At times a trader might only see profit once a week or sometimes their full week might end in losses. Hadn't they have been using that capital that they are burning day and night to invest in bitcoin, they would have seen massive rewards from it .

Trading usually takes lots of time or attention, that high risk can possibly drain our energy and time. Lots of traders end up chasing their loss and gains especially if there's sudden short term movement that does not align with their plan or strategy.

That situation is so stressful and for sure that they won't stay long on Bitcoin especially if they face so many failures. So if you look at historical stats of Bitcoin those who have patience for long term investment always get rewarded. Trading is actually not really bad but people need to master all those things needed to learn so they can minimize their losses, but getting into this position will take lots of time and I think not all have patience to learn this especially its technical aspects that's why trading is not for everyone.

[Gost ms]

With bitcoin, you have one of the best, if not the best, of assets available to you, and you want to fuck around trying to trade it rather than accumulate it?

You also want to suggest that there is some prudence in trading when more likely ar0und 95% or more of traders are either losing money orfailing to outperform simply buying and accumulating bitcoin, especially if we are talking a couple of cycles or more.

How many traders could have had beat a bitcoin accumulation strategy if the timeline is longer than 8 years?

You act as if it is possible to get better at your trading, and sure that is probably true that folks can spend time trading and they can get better, yet it is still likely not very common for anyone to actually be able to beat bitcoin in a timeline that is more than 8 years, so we should not be acting as if trading bitcoin is either normal or something that should be attempted - except maybe with less than 10% of the size of the bitcoin holdings for those folks who are so degenerate that they cannot resist trading (gambling) with their bitcoin, so if they could at least limit their exposure to trading to less than 10% the size of their bitcoin holdings, then at least they would limit their losses, yet part of the problem with trading/gambling is that there difficulties in controlling the devolution and temptations to add more and more and more until they end up losing all of their money when they otherwise could have had a good investment into bitcoin..

By the way CryptoPanda, this is not even a trading thread, even though there is "buy the dip" in the title.

You have been registered on the forum since November 2012.  Holy shit.  You still are fucking around with trading or believing in trading likely shows that you have not learned any lessons in the past 13-ish years... You could be rich as fuck right now even if you had ONLY invested a relative small amount into bitcoin over the past 13 years and if you had not fucked around with trading.. yet I bet your own holdings are not even close to being competitive with a basic buy and hold strategy.. Yet, what?  you think that the future for trading in bitcoin is going to be better than its past?  I will grant you that it is likely that bitcoin is not going to appreciate as much as it had been in the last 13 years, so the price dynamics in bitcoin are likely going to be less steep to the upside as they had been in the past 13 years.

People should really know better than to keep fucking around with trading bitcoin. Trading Bitcoin is like gambling with your money and that's total bullshit, and people should always stay the hell away from it. Some traders will always want to think that they are different simply because of a few wins but yet their story always end up like the others. Really let's traders stop with the pretense, Trading is mentally exhausting, stressful but yet can never still be better than holding. Holding Bitcoin always beats trading anyday and anytime.

There's is no fun in trading it's just  a waste of time and energy, the losses there are in unimaginable. The risk at trading is x10 times  that of investing. You know, traders wants quick money, they don't know the meaning of long term growth, that why they jump in from one trade to another with different strategies, hoping to see profit. At times a trader might only see profit once a week or sometimes their full week might end in losses. Hadn't they have been using that capital that they are burning day and night to invest in bitcoin, they would have seen massive rewards from it .

Trading usually takes lots of time or attention, that high risk can possibly drain our energy and time. Lots of traders end up chasing their loss and gains especially if there's sudden short term movement that does not align with their plan or strategy.

That situation is so stressful and for sure that they won't stay long on Bitcoin especially if they face so many failures. So if you look at historical stats of Bitcoin those who have patience for long term investment always get rewarded. Trading is actually not really bad but people need to master all those things needed to learn so they can minimize their losses, but getting into this position will take lots of time and I think not all have patience to learn this especially its technical aspects that's why trading is not for everyone.

Yes, I completely agree with you on this point. Many people do not understand these things and lean towards trading. Trading requires a lot of money but investing does not require a lot of money. If a person has $10 discretionary income, then he can invest if he wants. In trading, a person has to master many things within himself and when they want to master all these things, they lose a lot of money, while many people become profitable, but 98% of people lose in this case. In the end, very few people can survive in trading, like out of 100%, 10% of people can survive by trading and 90% of people fall.

A person should always focus on his investment. When a person invests, his risk of losing money will be reduced. But in investment, a person has to maintain his portfolio for a long time. If a person is able to maintain it for a long time, then he may be profitable.

[Fuso.hp]

With bitcoin, you have one of the best, if not the best, of assets available to you, and you want to fuck around trying to trade it rather than accumulate it?

You also want to suggest that there is some prudence in trading when more likely ar0und 95% or more of traders are either losing money orfailing to outperform simply buying and accumulating bitcoin, especially if we are talking a couple of cycles or more.

How many traders could have had beat a bitcoin accumulation strategy if the timeline is longer than 8 years?

You act as if it is possible to get better at your trading, and sure that is probably true that folks can spend time trading and they can get better, yet it is still likely not very common for anyone to actually be able to beat bitcoin in a timeline that is more than 8 years, so we should not be acting as if trading bitcoin is either normal or something that should be attempted - except maybe with less than 10% of the size of the bitcoin holdings for those folks who are so degenerate that they cannot resist trading (gambling) with their bitcoin, so if they could at least limit their exposure to trading to less than 10% the size of their bitcoin holdings, then at least they would limit their losses, yet part of the problem with trading/gambling is that there difficulties in controlling the devolution and temptations to add more and more and more until they end up losing all of their money when they otherwise could have had a good investment into bitcoin..

By the way CryptoPanda, this is not even a trading thread, even though there is "buy the dip" in the title.

You have been registered on the forum since November 2012.  Holy shit.  You still are fucking around with trading or believing in trading likely shows that you have not learned any lessons in the past 13-ish years... You could be rich as fuck right now even if you had ONLY invested a relative small amount into bitcoin over the past 13 years and if you had not fucked around with trading.. yet I bet your own holdings are not even close to being competitive with a basic buy and hold strategy.. Yet, what?  you think that the future for trading in bitcoin is going to be better than its past?  I will grant you that it is likely that bitcoin is not going to appreciate as much as it had been in the last 13 years, so the price dynamics in bitcoin are likely going to be less steep to the upside as they had been in the past 13 years.

People should really know better than to keep fucking around with trading bitcoin. Trading Bitcoin is like gambling with your money and that's total bullshit, and people should always stay the hell away from it. Some traders will always want to think that they are different simply because of a few wins but yet their story always end up like the others. Really let's traders stop with the pretense, Trading is mentally exhausting, stressful but yet can never still be better than holding. Holding Bitcoin always beats trading anyday and anytime.

I am not comparing trading to gambling but I can say that trading is more risky and here you can actually lose a lot of money due to your own small mistakes. Another thing is that those who trade cannot actually focus on anything else because they have to keep an eye on every change in the market, if they take a trade at the wrong time then they can lose a lot of money. I have traded before myself so I have a lot of idea about trading, but I always tell traders that investing is much better than trading. Trading has a lot of risk whereas investing has no risk. The biggest advantage in investing is that here you do not need to give much importance to the current price or monitor the market changes all the time because now we know about the DCA investment strategy and with this investment strategy the investor can buy Bitcoin continuously.

[ruykeri]

Look, we all know that Bitcoin is volatile, but the thing is, not all of us can handle this volatility of Bitcoin. There are many of us who cannot take the pressure of financial matters or do not like it. And I myself do not force anyone to invest here. If someone wants to know about it, I tell them both the positive and negative sides of Bitcoin and then the rest depends on them. Because there is a huge difference between making money and controlling money. There is no guarantee that anyone will be successful just by knowing the good and bad sides. For this, patience, proper financial management, self-control and discipline are required.

You cannot judge the characteristics of Bitcoin as good or bad. Bitcoin's volatility is bad for some and an opportunity for others, so Bitcoin can never be mentioned as good or bad as its own characteristics  . Volatility is always equally applicable to everyone. Those who do not have an emergency fund plan, have a short-term mentality and think of getting rich quickly, Bitcoin's volatility is considered bad. However, those who buy Bitcoin with discretionary income to invest for the long term have a much higher chance of succeeding in Bitcoin after a long time. In their case, this volatility of Bitcoin works as an opportunity.

[Churchillvv]

That impatient is what differentiates them from long term holders and this impatient act always make them look depressed and frustrated after incurring some losses. It is very wrong to let greed and impatient lead or go before someone because the result most times are not always favorable and dude, you should not try to compare the risk in holding for long term and the risk in trading or gambling because they entirely different thing.

Trading indeed is not without high level impatience that can even bring about taking unrealistic risk like borrowing money to invest into Bitcoin which alongside also easily leads to high losses, leaving the trader a debtor.
Together with this impatience is the set expectations of getting rich quick, these mindset leaves no room for patience or long-term investment. A very unhealthy mindset that can even cause hypertension.

Contradictory, you don’t call it investment when it has to do with buying and selling in a short period that is trading, however borrowing is not as risky as gambling the in borrowed money not in any other thing but a very volatile market that is highly easily manipulated by whales and giving the fact that one or individual can not out smart a large firm hence it’s even more risky to try to trade something like bitcoin which is mostly the best asset right now if not the best asset that we can have hence, the bare minimum you can do is accumulate yet some guys seem to like the fact they get rich quick scheme is available to them in terms of trading yet it seem to be the worst way one can ever want to get rich off, as most traders end up in losses yet bitcoin if accumulated over the years in less than 3 cycles one can be far profitable that one gambling in a short period trying to make a profit that will be equivalent to what a hodler will achieve in 2 yo 3 cycles.

[ASloveapg]

Look, we all know that Bitcoin is volatile, but the thing is, not all of us can handle this volatility of Bitcoin. There are many of us who cannot take the pressure of financial matters or do not like it. And I myself do not force anyone to invest here. If someone wants to know about it, I tell them both the positive and negative sides of Bitcoin and then the rest depends on them. Because there is a huge difference between making money and controlling money. There is no guarantee that anyone will be successful just by knowing the good and bad sides. For this, patience, proper financial management, self-control and discipline are required.

You cannot judge the characteristics of Bitcoin as good or bad. Bitcoin's volatility is bad for some and an opportunity for others, so Bitcoin can never be mentioned as good or bad as its own characteristics  . Volatility is always equally applicable to everyone. Those who do not have an emergency fund plan, have a short-term mentality and think of getting rich quickly, Bitcoin's volatility is considered bad. However, those who buy Bitcoin with discretionary income to invest for the long term have a much higher chance of succeeding in Bitcoin after a long time. In their case, this volatility of Bitcoin works as an opportunity.

Bitcoin's volatility is the same for everyone and it will always be there. Those who think of using volatility to make short-term profits cannot succeed in many cases because no one understands this volatility properly. Its movements are completely unpredictable. So it may seem easy to use volatility to make profits, but in reality, when you do it, the possibility of loss is high.

So it is better to ignore volatility and move forward with long-term investment expectations. Since fluctuations will always be there, it should never be seen as a cause for panic. Let's ignore it. It is not something that can bring a big loss to your long-term plans. For those who are long-term investors, short-term volatility is not a concern.

[BigBos]

There's is no fun in trading it's just  a waste of time and energy, the losses there are in unimaginable. The risk at trading is x10 times  that of investing. You know, traders wants quick money, they don't know the meaning of long term growth, that why they jump in from one trade to another with different strategies, hoping to see profit. At times a trader might only see profit once a week or sometimes their full week might end in losses. Hadn't they have been using that capital that they are burning day and night to invest in bitcoin, they would have seen massive rewards from it .

This is why trading is not suitable for everyone. The high risks and uncertainty involved can be frustrating for traders. Furthermore, trading can be mentally and financially draining for anyone who doesn't fully understand what trading is all about. Those who frequently switch strategies may want to make quick profits, this mindset often gets trapped in an unrealistic “get rich quick” situation. In my opinion, long-term investment (especially Bitcoin) is a good choice if done with the right strategy (DCA), although it cannot be denied that every investment has risks, but with the DCA method Investors can reduce risk because they buy assets regularly at an average price so they don't have to worry about high or low prices.

With the possibility to lose money in such a short period of time it makes trading perhaps not suitable for everyone, I agree with that. There are those who are mentally strong when they experience losses, but that is because they have sufficient knowledge and experience, while others who only see a few percent drop may panic.

So holding is more recommended, especially for beginners who are just getting to know and want to jump into the crypto world. At least if you want to trade, then we must first train our mentality, knowledge and skills and financial management properly.

[Tamaperdana]

Trading indeed is not without high level impatience that can even bring about taking unrealistic risk like borrowing money to invest into Bitcoin which alongside also easily leads to high losses, leaving the trader a debtor.
Together with this impatience is the set expectations of getting rich quick, these mindset leaves no room for patience or long-term investment. A very unhealthy mindset that can even cause hypertension.

Yes, trading is indeed very risky, and the risks involved are truly unimaginable due to their magnitude. That is why there are very few people who are successful in trading. Therefore, rather than risking our money in trading, it is better to invest in bitcoin. Although it does take a long time, believe me, it will not disappoint us. Fundamentally, it's better to invest in Bitcoin over the long term than to become a trader who could lose your money in a matter of minutes. I think we all understand this, so think more rationally and realistically. If you fantasize that becoming a trader will make you rich quickly, that's simply wrong. As far as I know, most people who are successful in the trading world actually have other businesses that make them richer. So, look at the other side of people who are considered successful in trading, and you will understand that trading is not their main job.

[Cossyblack]

You cannot judge the characteristics of Bitcoin as good or bad. Bitcoin's volatility is bad for some and an opportunity for others, so Bitcoin can never be mentioned as good or bad as its own characteristics  . Volatility is always equally applicable to everyone. Those who do not have an emergency fund plan, have a short-term mentality and think of getting rich quickly, Bitcoin's volatility is considered bad. However, those who buy Bitcoin with discretionary income to invest for the long term have a much higher chance of succeeding in Bitcoin after a long time. In their case, this volatility of Bitcoin works as an opportunity.

Bitcoin violatility is not the negative side of bitcoin but rather it is a inherent character of bitcoin. So when you see violatility as bad, then it show you still don't understand how Bitcoin works and how you can make an opportunity from it.  Volatility is a inherent character of bitcoin that makes it unique when it fluctuates in prices. The dip isn't a negative time to buy instead, it's an opportunity to buy bitcoin at a low price and grow your portfolio.  The dip shouldn't be considered a bad time but rather a good time to buy bitcoin aggressively within your discretionary income.

[NewRevelation]

I've been investing by buying Bitcoin bit by bit, adjusting to my financial capabilities. Initially, everything was going well, and this continued for quite some time, but an unexpected situation occurred that forced me to sell my investment. Although I had an emergency fund, it wasn't sufficient, so I had no choice but to sell it.

What went wrong with that incident? I personally think the problem was my emergency fund, which may have been inadequate. If I had prepared a slightly larger emergency fund, it might not have affected my investment.

But even though I sold it, there was a positive side: the investment helped me in an emergency. Going forward, I will invest again using the DCA strategy and pay more attention to my emergency fund. Although I could have handled the emergency situation with borrowing, I don't want to borrow for my own reasons. There are lessons I learned here, and I will use them as a basis for future evaluation.

That's why every investor should pay very much attention in building his emergency funds plus back up funds that will help you meet up such emergency demands. The main thing is, while accumulating Bitcoin using the DCA strategy gradually, you also simultaneously build up your emergency funds alongside. Like you said, you have leaned from the situation and will pay more attention to your emergency funds, but the bad thing is just that you will be starting from scratch and a long time will be needed to gather something tangible, if only you will remain consistent, disciplined and then this time, ensure a proper income allocation and management,  then, you may be able to Hodl for long term

[Kaliandra]

Well, anyone can do what they like with their income, but trading is highly risky and should be avoided. Investing in Bitcoin is more better and peaceful compared to trading since Bitcoin investment gives you enough time to focus on other of your activities or business perfectly well without pressure of reading charts always, eyes glued to the screen monitoring market movement and so on

Of course, we are free to do whatever we want with our own money, including trading or investing in BTC for the long term. Trading is indeed much riskier than investing because investing is easier to do—we just buy BTC and hold it for the long term. Trading, on the other hand, requires constant monitoring of the market, which can be exhausting and sometimes interfere with our real-world activities. So, yes, it's true that for convenience, investing in BTC for the long term is the most comfortable option.

Lately, I’ve been hearing a lot about people losing money through trading, but I’ve never heard of anyone losing money through long-term BTC investment. Have you ever heard of someone losing money through long-term BTC investment? This certainly indicates that long-term BTC investment is the best option compared to trading. But of course, everyone has their own rights to choose whatever they want.

[abaeze]

Well, anyone can do what they like with their income, but trading is highly risky and should be avoided. Investing in Bitcoin is more better and peaceful compared to trading since Bitcoin investment gives you enough time to focus on other of your activities or business perfectly well without pressure of reading charts always, eyes glued to the screen monitoring market movement and so on

Of course, we are free to do whatever we want with our own money, including trading or investing in BTC for the long term. Trading is indeed much riskier than investing because investing is easier to do—we just buy BTC and hold it for the long term. Trading, on the other hand, requires constant monitoring of the market, which can be exhausting and sometimes interfere with our real-world activities. So, yes, it's true that for convenience, investing in BTC for the long term is the most comfortable option.

Lately, I’ve been hearing a lot about people losing money through trading, but I’ve never heard of anyone losing money through long-term BTC investment. Have you ever heard of someone losing money through long-term BTC investment? This certainly indicates that long-term BTC investment is the best option compared to trading. But of course, everyone has their own rights to choose whatever they want.

It is a well known fact that investing in Bitcoin is safer than trading. So instead of dreaming of getting rich overnight through trading, it is better to start investing in Bitcoin with small amounts and build your investment capacity. People learn best through experience, but when you learn trading, you have to lose, but when you learn investing in Bitcoin, there is no chance of losing, especially if you invest for the long term. Since everyone has a different risk taking capacity, start small, learn, build your confidence, and then gradually increase your investment if you want.

[Lembo69]

But of course, everyone has their own rights to choose whatever they want.

The best currency I have seen is Bitcoin. I have not found any alternative to Bitcoin. So my advice would be to invest in Bitcoin.

You can invest your money wherever you want. It is completely up to you. But if you can invest in Bitcoin, it can be the best investment of your life.

Long-term investment is able to bring profits in the long term. The biggest challenge of an investor is to survive in the market.

There are many investors who cannot survive in the market even after thinking long-term. They may not know that the rule of investment is to invest with money that they are ready to lose.

[Jaksonhard]

I suppose that it is important that you are saying that you learned a lesson, yet it is still difficult to know if you really did learn a lesson that will contribute towards your being able to make sufficient and adequate changes.

It well be the case that not ONLY was your emergency funds inadequate, it also could be the case that you were not serious enough about bitcoin.. and you ultimately cashed out of too much too soon of your bitcoin based on your lack of bitcoin comitment and your losss aversion when you saw the BTC price going down.

You proclaim that you now have it figured out.. but you may well not have it figured out since part of your problem seems to be that you are not convicted to making sure that you build and hold your bitcoin for 10 years or longer.. which is part of the reason that you cashed out ..and wanting to cash out while still in profits.

It is an accurate and truthful analysis. Typically the deficiency of emergency funds is not always the problem but perhaps even more so the absence of a commitment to a long-term strategy. When the market goes down, fear and loss aversion come into play, thus removing the ability to hold for the long-term when individuals do not have a long-term view of investing in bitcoin or any cryptocurrency in general. When someone says that "I have it figured out now", it does not always reflect the change in the underlying behavior; therefore, being committed to bitcoin include being able to clearly define what an emergency fund is versus when to invest, and to be mentally equipped to hold through volatility. If no commitment is made, therefore individuals are unable to break the cycle of making the same errors over and over again.

So, then there can be BIG questions concerning how to fix matters and to get onto a correct track of accumulating bitcoin 4-10 years or longer and at the same time to make sure that the cash cushions are sufficient and the back up plans are sufficient in order to continue to build a bitcoin investment portfolio, since it tends to take a long time to build up a bitcoin investment portfolio, and part of the process is building up the bitcoin, and another part of the process is protecting the bitcoin so that they are not tapped into. .and we have various other resources that we touch on first prior to even having to tap into our bitcoin... yeah, sure anything can end up being emergencies when our income goes down and/or our expenses go up...and so these kinds of situations could potentially last for several months, so if we are depleting our funds it becomes urgent to try to figure out how to decrease our expenses and/or increase our income so we can discontinue from depleting any extra funds that we have, and yeah, the situation had gotten pretty bad if we end up tapping into our bitcoin at a time that was prior to our expectations.

What you identify are two of the biggest hurdles with regards to Bitcoin: building a Bitcoin position will take years, while at the same time protecting your investment will also take planning and discipline but can take considerably less time than building a Bitcoin position. Therefore, having a good amount of cash in hand and having a contingency plan is critical. Having cash in reserve and a contingency plan allows your Bitcoin investments not to be treated as your emergency fund. If a person's cash flow drops or costs rise over a long period of time, they must prioritize working to restore their cash flow through either reducing costs or obtaining additional sources of income. If a person withdraws too much from their Bitcoin reserves too soon, it clearly demonstrates that they did not have an adequate cash reserve or an acceptable plan for financial stability, and has nothing at all to do with whether or not Bitcoin was "successful."

It's true developing and/or cultivating the habit of saving, investing, and spending wisely takes effort and dedication. There is one major reason why individuals continue to save their "back-up" cash, and that is liquidity; meaning that cash should be readily accessible for use whenever needed and be fairly consistent in its perceived value. This is why many an individual will hold either cash in U.S. dollars or a U.S. dollar equivalent, regardless of whether or not their expenses are incurred in the local currency they are using. Given that the U.S. dollar typically has a longer history of holding its value better than other less stable local currencies, this method provides a measure of insurance against potential volatility of currencies. Therefore, when evaluating all the factors involved, opting to use the U.S. dollar for use as a stable reserve currency has the potential to offer a level of financial protection in practicality.

Even if a person chooses the dollar as one of their ways of keeping back up funds, they also need to consider proportions and even liquidity, whether they are keeping physical cash or if they are exchanging the dollars into their local currency, or if there might be some ways to pay for some of their expenses using the dollar.  How to keep back up funds is likely a bit of a moving process, especially if dealing with attempts to value multiple currencies.. so yeah, volatility and liquidity are considered which also includes possibilities of funds getting frozen (or delayed) when they are kept in certain locations, and sometimes we might not know how long it takes to get the funds if had not attempted to access them for several years... and it could make a difference if it is 10% of our funds held in such a way or if it is 60% or more held in that way, and if it is a higher amount, then we might have an obligation to test those funds from time to time... even if there might be a transfer and then a transfer back... or maybe the transfer is merely $50, so it is not a lot, and so when we transfer $50 from one system , then maybe we will transfer $70 into another location, so we are not depleting our funds but instead continuing to add to funds, even when we are sometimes testing aspects of availability (and perhaps if there are fees involved, too).

Backup Fund (a/ b, c, d) Backup funds should not only be viewed as cash, but should also include availability on-demand when needed without waiting for approval. The size of your backup fund is going to be important too - for example, while having 10% of your portfolio in cash may seem to be safe today, it would no longer feel safe with an increase in that percentage to 60% unless you have adequate planning in place. Liquidating your backup fund could create unexpected losses due to liquidations, reduced liquidity, increased cost and a risk of delayed access or frozen accounts, etc. Personally, I like the idea of testing access by making small dollar transfers from my backup fund periodically so that I am not using all available resources to test access. Your backup fund will be subject to fluctuations in availability due to changes in conditions, technology and your individual needs.

[Stormisover]

There's is no fun in trading it's just  a waste of time and energy, the losses there are in unimaginable. The risk at trading is x10 times  that of investing. You know, traders wants quick money, they don't know the meaning of long term growth, that why they jump in from one trade to another with different strategies, hoping to see profit. At times a trader might only see profit once a week or sometimes their full week might end in losses. Hadn't they have been using that capital that they are burning day and night to invest in bitcoin, they would have seen massive rewards from it .

This is why trading is not suitable for everyone. The high risks and uncertainty involved can be frustrating for traders. Furthermore, trading can be mentally and financially draining for anyone who doesn't fully understand what trading is all about. Those who frequently switch strategies may want to make quick profits, this mindset often gets trapped in an unrealistic “get rich quick” situation. In my opinion, long-term investment (especially Bitcoin) is a good choice if done with the right strategy (DCA), although it cannot be denied that every investment has risks, but with the DCA method Investors can reduce risk because they buy assets regularly at an average price so they don't have to worry about high or low prices.

With the possibility to lose money in such a short period of time it makes trading perhaps not suitable for everyone, I agree with that. There are those who are mentally strong when they experience losses, but that is because they have sufficient knowledge and experience, while others who only see a few percent drop may panic.

So holding is more recommended, especially for beginners who are just getting to know and want to jump into the crypto world. At least if you want to trade, then we must first train our mentality, knowledge and skills and financial management properly.

Holding is recommended generally for every level of investor because of the power of compounding effect that will happen to the value of your asset over the long period of time of holding, holding create a higher chances of your asset growing, more precisely the thread lays it's emphasis on Bitcoin on it's own and not crypto so when next you are giving reference to any crypto please be specific, of it is Bitcoin say is Bitcoin, surely Bitcoin is not a coin to be traded over Short term profit and anyone doing that doesn't really understand what Bitcoin stands for over a long term.

[Mr_Brilliant$]

With bitcoin, you have one of the best, if not the best, of assets available to you, and you want to fuck around trying to trade it rather than accumulate it?

You also want to suggest that there is some prudence in trading when more likely ar0und 95% or more of traders are either losing money orfailing to outperform simply buying and accumulating bitcoin, especially if we are talking a couple of cycles or more.

How many traders could have had beat a bitcoin accumulation strategy if the timeline is longer than 8 years?

You act as if it is possible to get better at your trading, and sure that is probably true that folks can spend time trading and they can get better, yet it is still likely not very common for anyone to actually be able to beat bitcoin in a timeline that is more than 8 years, so we should not be acting as if trading bitcoin is either normal or something that should be attempted - except maybe with less than 10% of the size of the bitcoin holdings for those folks who are so degenerate that they cannot resist trading (gambling) with their bitcoin, so if they could at least limit their exposure to trading to less than 10% the size of their bitcoin holdings, then at least they would limit their losses, yet part of the problem with trading/gambling is that there difficulties in controlling the devolution and temptations to add more and more and more until they end up losing all of their money when they otherwise could have had a good investment into bitcoin..

By the way CryptoPanda, this is not even a trading thread, even though there is "buy the dip" in the title.

You have been registered on the forum since November 2012.  Holy shit.  You still are fucking around with trading or believing in trading likely shows that you have not learned any lessons in the past 13-ish years... You could be rich as fuck right now even if you had ONLY invested a relative small amount into bitcoin over the past 13 years and if you had not fucked around with trading.. yet I bet your own holdings are not even close to being competitive with a basic buy and hold strategy.. Yet, what?  you think that the future for trading in bitcoin is going to be better than its past?  I will grant you that it is likely that bitcoin is not going to appreciate as much as it had been in the last 13 years, so the price dynamics in bitcoin are likely going to be less steep to the upside as they had been in the past 13 years.

People should really know better than to keep fucking around with trading bitcoin. Trading Bitcoin is like gambling with your money and that's total bullshit, and people should always stay the hell away from it. Some traders will always want to think that they are different simply because of a few wins but yet their story always end up like the others. Really let's traders stop with the pretense, Trading is mentally exhausting, stressful but yet can never still be better than holding. Holding Bitcoin always beats trading anyday and anytime.

That is it, I will not even lie... People that use to trade Bitcoin they’re just gambling and calling it a skill.. When they first start winning, they feel they are smart, then one wrong prediction, they will wipe off everything and that is normally how the story ends..  This do happen many times…

I know a lot of us here us to see screenshots of trading out there, and how it looks good, but the stress behind it is crazy…. They will be always watching charts, always guessing and all of that… it is just too draining…