JJG’s Outline of Bitcoin Investment Ideas

[Joeboy]

~snip~

Nice guides, I will agree with you that the most relevant ideas here is just 2, which is discretionary income and where to purchase bitcoin and get started, as such its better to be known by some newbies that the only money they can invest into bitcoin should be discretionary income and invest whatever they can afford to lose at thier confort. Once you have it available there is no need to think otherwise, the common sense will surely help to calculate when to start and how much to start with. @ JayJuanGee your opinion's are okay, because even if the person have more than $100, it is more safer to begin with little amount of discretionary income first, like either $10, $20 or $30 weekly than starting with $100 at once, and he will surely be learning as it goes or continue buying and stacking Bitcoin. If at all, the best is to start ealy as soon as possible and also managing cashflow than waiting to aquire or know everything first.

Everything still boils down to the availability of your discretionary income...As long as it is your discretionary income, then I really don't think it is bad if folks invest using large amounts... But then again everyone should choose for themselves the amount that they very well know is within their power to invest... Coz individuals supposed discretionary income may varies, some may be more than others or less than others...That's very much why it is imperative that folks understand their cashflow, and then invest within their financial capacity instead of trying to imitate someone else's strategy and/or investment size...But then, regardless of the amount, it is important thing that the money used is such that can be invested for a long term duration without it affecting other of the investors financial needs...

[Silikiem]

Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

You can’t rely on recent performance in a highly volatile asset as bitcoin because recent performance does not guarantee future results or performance as the case may be. Taking time to understand the market before deciding to invest is a traders mindset who’s in for a quick profit and that’s not what we are discussing here as investors whose focus is on long term goal of consistently or perhaps persistent accumulation of bitcoin with our discretionary income to gradually build up our portfolio. Part of the reason why the DCA was introduced is to ease investors off the stress of trying to time the market and constantly looking for a perfect entry point which they might not actually get as a result of bitcoins high volatility. With the DCA you only need to worry about figuring out a discretionary income and buy bitcoin at any market price and hold for long term gains, be it weekly or monthly basis, or at a time your discretionary income is ready no stress.

everything in cryptocurrency Bitcoin

I think we need to be mindful not to describe or associate bitcoin with cryptocurrency as using the vague term “cryptocurrency” can mislead many newbies into investing in shitcoins. It’s better we keep the conversation direct at bitcoin.

[AYOBA]

When someone wants to invest in Bitcoin, there should be careful observation because some people just jump in and buy without understanding the system. This is because when the market isn't moving in the direction they want, they will rush to sell because they don't understand how it works. I don't know why they will be panicking when they know that the price will return to normal and even surpass the initial price they bought. Because of the way the algorithm operates, there is no way that there won't be a recovery from the decline. When investing in Bitcoin, you should know what will make it easier, which is to use DCA and have emergency reserves at the same time. And people who know what the dip is about are always happy. Because they can even buy more.

Observing investments how? I think the only think that is important for investors is the capital that him/she can start up the investments and understanding the market system since the market is fluctuating all the time. Because in investing once a person have get the best strategies there’s no any difficult things in the investments, but if your talking about the observing your conversations is out the investments and this can confuse some of the beginners who are new to the Bitcoin investments.

[The Founding Titan]

You said you need to watch the market before buying Bitcoin. So tell me, how long should we watch before we start? A month, six months, or a full market cycle?

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

This is also where the DCA plays it's role, you don't get to wait to understand the market before you decide how to come in but rather you can get in right away provided that you have your discretionary income for investment, trying to understand the market before you come in will lead you in to making an investment driven by emotion but with DCA you are free from this emotional stress, there is nothing like best entering point other than when you have your investment money and ready to be used, an investor don't get to be chasing the market waves before taking their decision.

The moment a person wants to invest in bitcoin and they start timing the market looking for a good time to enter they are automatically announcing themselves as not wanting to invest in bitcoin but to trade and this is especially true for those who are always waiting for a DIP before they can start buying bitcoin, if they plan id long term then they naturally won't bother about when to start but since it's short term they end up looking for a perfect entry point and also don't keep their investment within what they discretionary income can handle, to make good short term gains they believe that their discretionary income isn't enough and since they are planning on selling early they don't see anything wrong with investing outside of their discretionary income.

[Proty]

Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

You can’t rely on recent performance in a highly volatile asset as bitcoin because recent performance does not guarantee future results or performance as the case may be. Taking time to understand the market before deciding to invest is a traders mindset who’s in for a quick profit and that’s not what we are discussing here as investors whose focus is on long term goal of consistently or perhaps persistent accumulation of bitcoin with our discretionary income to gradually build up our portfolio. Part of the reason why the DCA was introduced is to ease investors off the stress of trying to time the market and constantly looking for a perfect entry point which they might not actually get as a result of bitcoins high volatility. With the DCA you only need to worry about figuring out a discretionary income and buy bitcoin at any market price and hold for long term gains, be it weekly or monthly basis, or at a time your discretionary income is ready no stress.

 

You have raised a valid point. There are people that do make the mistake of combining a traders mindset with that of an investor strategy. Long term investors are supposed to focused more on continuous accumulation of bitcoin and not to be timing the market.
DCA strategy is suitable for all investors as it's saved them the stress of trying to time the market in other to buy at a perfect entry price. It is not a good idea for anyone to be waiting for bitcoin to dip before they buy because the dip may never occur. But if they are consistent with their bitcoin accumulation they maybe able to build up their bitcoin portfolio regardless of short term volatility.
As long as long term investment is concerned, consistency and patience are very important than trying to time the market . We should only invest in bitcoin using an amount that we can afford to lose and the money will be locked out for years.

[Rockstarguy]

When someone wants to invest in Bitcoin, there should be careful observation because some people just jump in and buy without understanding the system. This is because when the market isn't moving in the direction they want, they will rush to sell because they don't understand how it works. I don't know why they will be panicking when they know that the price will return to normal and even surpass the initial price they bought. Because of the way the algorithm operates, there is no way that there won't be a recovery from the decline. When investing in Bitcoin, you should know what will make it easier, which is to use DCA and have emergency reserves at the same time. And people who know what the dip is about are always happy. Because they can even buy more.

Buying bitcoin to hodl using a DCA strategy means you don't have to worry about observing the market. To accumulate bitcoin, you should take every opportunity to buy, regardless of market fluctuations. If you are too concerned with monitoring the market, it will hinder you and slow your bitcoin buying, as you will only focus on purchasing bitcoin at a price you are comfortable with.

The DCA strategy encourages investors to buy bitcoin irrespective of what the price may be. Observing the price of bitcoin can lead to panic; if you see a price that seems favorable, a drop in price can become problematic. When you buy at a price that pleases you, you expect the value of bitcoin to increase, and if it doesn’t, you may feel disturbed.

[ejikeme24]

The moment a person wants to invest in bitcoin and they start timing the market looking for a good time to enter they are automatically announcing themselves as not wanting to invest in bitcoin but to trade and this is especially true for those who are always waiting for a DIP before they can start buying bitcoin, if they plan id long term then they naturally won't bother about when to start but since it's short term they end up looking for a perfect entry point and also don't keep their investment within what they discretionary income can handle, to make good short term gains they believe that their discretionary income isn't enough and since they are planning on selling early they don't see anything wrong with investing outside of their discretionary income.

Many people failed to understand that there is no perfect time to start Bitcoin investment, the only time which I know is perfect for a beginner to start Thier Bitcoin investment is when they figure out that they have discretionary income, Any thing other than this is invalid. A beginner who knows the history about Bitcoin I mean how the price has been moving in the past years wouldn't wait for the price to dip  or waiting for a good time but to start as so as possible. those beginners who are waiting for a good time doesn't know the history of bitcoin because if they knew, they would have start from somewhere before it gets late. Even though there is no time that is too late to start Bitcoin investment but those beginners who are wise enough would want to start early before the price goes up again.

[Davidloki]

When someone wants to invest in Bitcoin, there should be careful observation because some people just jump in and buy without understanding the system. This is because when the market isn't moving in the direction they want, they will rush to sell because they don't understand how it works. I don't know why they will be panicking when they know that the price will return to normal and even surpass the initial price they bought. Because of the way the algorithm operates, there is no way that there won't be a recovery from the decline. When investing in Bitcoin, you should know what will make it easier, which is to use DCA and have emergency reserves at the same time. And people who know what the dip is about are always happy. Because they can even buy more.

Observing investments how? I think the only think that is important for investors is the capital that him/she can start up the investments and understanding the market system since the market is fluctuating all the time. Because in investing once a person have get the best strategies there’s no any difficult things in the investments, but if your talking about the observing your conversations is out the investments and this can confuse some of the beginners who are new to the Bitcoin investments.

I want to correct a few errors so that newbies like me wont make the same mistake I made due to a misguided statement. 

First, no strategy is the best, because the term best is subjective. DCA may be the better option for many investors, while lump sum and buying on dip are better for some. It all depends on the financial capability and structure of the goal. I can start my investment with the DCA method and, along the way, switch to buying on dip or lump sum, which may be as a result of an increase in income or some work bonuses. I can also switch investment methods if I have reached a certain phase in my milestone, which warrants me to use a safer and less risky strategy to invest.

[Razmirraz]

Snip.

When someone wants to invest in Bitcoin, there should be careful observation because some people just jump in and buy without understanding the system. This is because when the market isn't moving in the direction they want, they will rush to sell because they don't understand how it works.

Why monitor prices, we can never predict whether the price will go up or down tomorrow. DCA doesn't require that, you just need to decide to buy with discipline regardless of the price, once you press the buy button, your job is done, then just let the price be taken care of by time for more than 4 years from now. Not watching prices every day does not mean being out of the context of investing, it is actually the pinnacle of the DCA strategy. The reason why the DCA strategy is a favorite weapon for investors from beginners to pros is because it is very flexible and not complicated.

[oll]

 One thing about Bitcoin investment is that it may be stressful to some beginners and sometimes they'll sell at loss, thinking they're on the right track but when Bitcoin probably improve better than they expected as the year goes, they’ll then see reasons why holding is important and correct the impression of selling for quick profits.

It is very rare for beginners to learn solely from their mistakes, and therefore, under the influence of naivety, they try to calculate the bottom in the price of bitcoin and earn "all the money in the world," but everything is much simpler. In real life, many people think that the more actions they take, the faster they achieve success, but the world of investing, and especially DCA, does not work like that at all, and probably that's why many people do not submit to this occupation.
It's like in a fairy tale about a calm turtle that walks calmly, but outruns everyone. However, the DCA method eventually turns out to be the most effective in accumulation.

[The Founding Titan]

The moment a person wants to invest in bitcoin and they start timing the market looking for a good time to enter they are automatically announcing themselves as not wanting to invest in bitcoin but to trade and this is especially true for those who are always waiting for a DIP before they can start buying bitcoin, if they plan id long term then they naturally won't bother about when to start but since it's short term they end up looking for a perfect entry point and also don't keep their investment within what they discretionary income can handle, to make good short term gains they believe that their discretionary income isn't enough and since they are planning on selling early they don't see anything wrong with investing outside of their discretionary income.

Many people failed to understand that there is no perfect time to start Bitcoin investment, the only time which I know is perfect for a beginner to start Thier Bitcoin investment is when they figure out that they have discretionary income, Any thing other than this is invalid. A beginner who knows the history about Bitcoin I mean how the price has been moving in the past years wouldn't wait for the price to dip  or waiting for a good time but to start as so as possible. those beginners who are waiting for a good time doesn't know the history of bitcoin because if they knew, they would have start from somewhere before it gets late. Even though there is no time that is too late to start Bitcoin investment but those beginners who are wise enough would want to start early before the price goes up again.

Some of them just want to get quick profit and they think that's what bitcoin is about, I've seen so many like that and I've tried to explain to them how that's just unsustainable in the long run but they rarely choose to listen, they misunderstand what it means to buy the DIP to the point that they only ever want to buy bitcoin when there is a dip and this is because they want to sell immediately the price of bitcoin goes back up, they are involved in bitcoin for the profit but they are just not patient about it, most of them learn the hard way when the price drops some more and they are unable to keep holding because somehow the price of bitcoin dropping below where they bought wasn't a part of their plan.

[ZeroVinsonN]

You said you need to watch the market before buying Bitcoin. So tell me, how long should we watch before we start? A month, six months, or a full market cycle?

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

Except the more time a person spends trying to speculate on the perfect time to buy the more actual buying opportunities they are going to miss, the smart thing to do is to start buying whenever as long as our discretionary income is available to use, over time people keep trying to wait for a dip before the buy only to realize that by the time they actually buy that dip the price of bitcoin would have been higher than when they started waiting because bitcoin's price kept going up that when it dipped the price at that point was still high enough, if they had started buying from the very start instead of waiting then they would not have missed all that buying opportunity.

[Alonso_]

Snip.

When someone wants to invest in Bitcoin, there should be careful observation because some people just jump in and buy without understanding the system. This is because when the market isn't moving in the direction they want, they will rush to sell because they don't understand how it works.

Why monitor prices, we can never predict whether the price will go up or down tomorrow. DCA doesn't require that, you just need to decide to buy with discipline regardless of the price, once you press the buy button, your job is done, then just let the price be taken care of by time for more than 4 years from now. Not watching prices every day does not mean being out of the context of investing, it is actually the pinnacle of the DCA strategy. The reason why the DCA strategy is a favorite weapon for investors from beginners to pros is because it is very flexible and not complicated.

There are people who are always going to be speculating about the price of bitcoin, but you don’t have to bother about them, try and focus on yourself, to specialize on how to continue buying bitcoin on a regular basis, considering that you have a discretionary income, you can be buying on a regular basis using the DCA techniques, I basically think that people who are always focusing on speculating and always watching the market are people who are waiting for a dip so they can buy bitcoin with more discounted price, they don’t buy and accumulate regularly, they might fall into the categories of traders as well.

[Tonimez]

You said you need to watch the market before buying Bitcoin. So tell me, how long should we watch before we start? A month, six months, or a full market cycle?

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

Except the more time a person spends trying to speculate on the perfect time to buy the more actual buying opportunities they are going to miss, the smart thing to do is to start buying whenever as long as our discretionary income is available to use, over time people keep trying to wait for a dip before the buy only to realize that by the time they actually buy that dip the price of bitcoin would have been higher than when they started waiting because bitcoin's price kept going up that when it dipped the price at that point was still high enough, if they had started buying from the very start instead of waiting then they would not have missed all that buying opportunity.

The focus should be on whether a person has a Discretionary income at the time. A person may be willing to buy bitcoin but with no discretionary income. Buying bitcoin is good but being careful not to fail is better. A
How careful can you be? It's understanding that you're going in for a long term process. You may want to start buying now simply because you don't want to wait further because you are scared the price may go up and not because you are financially ready to get into bitcoin investment. That is the problem here, such person has a high chances of failing in the process. If you don't put your financial security first by figuring out the right amount you can spare for long, rushing into bitcoin may leave you with regrets. I don't encourage wasting time to wait for dips but I sure encourage buying it rightly.

[Muba20]

You said you need to watch the market before buying Bitcoin. So tell me, how long should we watch before we start? A month, six months, or a full market cycle?

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

Does that mean that you should find a good entry point and then buy Bitcoin by understanding the market season and recent performance. But it is almost impossible for a new or experienced investor to find the best entry point. Because when someone is looking for the best entry point in the market, if the market falls for a few weeks, he may wait, thinking that the price will fall further. When the price starts rising again, he may think that the buying opportunity has passed. In this way, instead of waiting for the best entry point, he may spend time guessing the market.

Investment is not based on buying the best entry point once. Rather, buying with regular consistency is the main plan of investment. And those who always look for low prices are traders, their aim is to buy at low prices and sell at high prices.

I am not saying that buying at low prices is bad, rather, regular buying should be our main plan. Then if we have extra reserves, we can buy additional Bitcoins but this will be part of the main plan.

[Agbam]

You said you need to watch the market before buying Bitcoin. So tell me, how long should we watch before we start? A month, six months, or a full market cycle?

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

Wow!… I’m shocked this is coming from you, an old account here. So what are we waiting and watching for?, are you investing or just  trading?. Are you suggesting to only buy during bear seasons? Watching the market to know the best entry points takes so many opportunities from you as an investor. The time you should have invested outrightly were spent speculating and timing a perfect entry.

Your approach suggests so many time wasting strategies, so after finding your perfect entry point you will spend more time to deliberate on strategy to keep going.
It’s even off that you’re putting cryptocurrency and bitcoin in the same sentence.

[SPIDERMAN008]

 One thing about Bitcoin investment is that it may be stressful to some beginners and sometimes they'll sell at loss, thinking they're on the right track but when Bitcoin probably improve better than they expected as the year goes, they’ll then see reasons why holding is important and correct the impression of selling for quick profits.

It is very rare for beginners to learn solely from their mistakes, and therefore, under the influence of naivety, they try to calculate the bottom in the price of bitcoin and earn "all the money in the world," but everything is much simpler. In real life, many people think that the more actions they take, the faster they achieve success, but the world of investing, and especially DCA, does not work like that at all, and probably that's why many people do not submit to this occupation.
It's like in a fairy tale about a calm turtle that walks calmly, but outruns everyone. However, the DCA method eventually turns out to be the most effective in accumulation.

The example of the tortoise is good, but just walking slowly will not make the tortoise win it has to walk in the right direction and have the ability to complete the journey. Similarly, it is not necessary to buy bitcoins slowly every week. If the money to buy comes from food, rent, medical care or household expenses, then that DCA will not be very stable. And after starting to invest in bitcoin, one should do the work that allows  to manage the investment activity in bitcoin properly. Now if someone changes their decision repeatedly without plan, buys, sells bitcoins, watches charts and reacts to every price fluctuation, this type of activity will destroy their long-term goal in investing in bitcoin. Rather, it may even reduce their bitcoin holding. Their investment will fall and they may suffer losses. If an investor is in the accumulation stage, he should look at how to do DCA responsibly by increasing income and reducing expenses. Create a strong back up fund so that you don't have to sell bitcoin at an unexpected moment. And the main advantage of DCA is that it helps you buy bitcoin at an average price and keeps you mentally stable during bitcoin price volatility, which is very important when investing in bitcoin. Successful Bitcoin accumulation can be a slow process, but success depends on overall decisions and activity.

[oll]

The moment a person wants to invest in bitcoin and they start timing the market looking for a good time to enter they are automatically announcing themselves as not wanting to invest in bitcoin but to trade and this is especially true for those who are always waiting for a DIP before they can start buying bitcoin, if they plan id long term then they naturally won't bother about when to start but since it's short term they end up looking for a perfect entry point and also don't keep their investment within what they discretionary income can handle, to make good short term gains they believe that their discretionary income isn't enough and since they are planning on selling early they don't see anything wrong with investing outside of their discretionary income.

A good investor will not analyze the market and try to find the lowest entry point for a profitable purchase of bitcoin. He should focus on consciously starting to make periodic purchases and not interrupting this process. And in order not to interrupt the purchase of bitcoin, he must be absolutely clear about the expenditure of funds for the needs and how much money remains each month. Personally, I use a counting app for this. This allows you to find a convenient measure for investing, as well as understand how to create an emergency budget so that in no case do not take money from investments in case of unforeseen circumstances.

[devouring-DARKNESS]

When someone wants to invest in Bitcoin, there should be careful observation because some people just jump in and buy without understanding the system. This is because when the market isn't moving in the direction they want, they will rush to sell because they don't understand how it works. I don't know why they will be panicking when they know that the price will return to normal and even surpass the initial price they bought. Because of the way the algorithm operates, there is no way that there won't be a recovery from the decline. When investing in Bitcoin, you should know what will make it easier, which is to use DCA and have emergency reserves at the same time. And people who know what the dip is about are always happy. Because they can even buy more.

Observing investments how? I think the only think that is important for investors is the capital that him/she can start up the investments and understanding the market system since the market is fluctuating all the time. Because in investing once a person have get the best strategies there’s no any difficult things in the investments, but if your talking about the observing your conversations is out the investments and this can confuse some of the beginners who are new to the Bitcoin investments.

I want to correct a few errors so that newbies like me wont make the same mistake I made due to a misguided statement.  

First, no strategy is the best, because the term best is subjective. DCA may be the better option for many investors, while lump sum and buying on dip are better for some. It all depends on the financial capability and structure of the goal. I can start my investment with the DCA method and, along the way, switch to buying on dip or lump sum, which may be as a result of an increase in income or some work bonuses. I can also switch investment methods if I have reached a certain phase in my milestone, which warrants me to use a safer and less risky strategy to invest.

Please don't go confusing yourself, there is a difference between combining different investment strategies and switching between strategies, there is no reason for you to suddenly abandon the DCA simply because you feel like you are no longer a newbie? Have you hit over-accumulation yet? My guess is No, there is nothing wrong with buying the DIP or lump sum purchase but for someone who hasn't hit over-accumulation yet completely switching to these other investment strategies without including the DCA is unsustainable, we won't always be in a dip and there is no guarantee that you will be getting enough discretionary income to only lump sum.
So if you are talking about combining the DCA with the other investment strategies then that's a different story from leaving the DCA for a different strategy.

[ZeroVinsonN]

You said you need to watch the market before buying Bitcoin. So tell me, how long should we watch before we start? A month, six months, or a full market cycle?

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

Except the more time a person spends trying to speculate on the perfect time to buy the more actual buying opportunities they are going to miss, the smart thing to do is to start buying whenever as long as our discretionary income is available to use, over time people keep trying to wait for a dip before the buy only to realize that by the time they actually buy that dip the price of bitcoin would have been higher than when they started waiting because bitcoin's price kept going up that when it dipped the price at that point was still high enough, if they had started buying from the very start instead of waiting then they would not have missed all that buying opportunity.

The focus should be on whether a person has a Discretionary income at the time. A person may be willing to buy bitcoin but with no discretionary income. Buying bitcoin is good but being careful not to fail is better. A
How careful can you be? It's understanding that you're going in for a long term process. You may want to start buying now simply because you don't want to wait further because you are scared the price may go up and not because you are financially ready to get into bitcoin investment. That is the problem here, such person has a high chances of failing in the process. If you don't put your financial security first by figuring out the right amount you can spare for long, rushing into bitcoin may leave you with regrets. I don't encourage wasting time to wait for dips but I sure encourage buying it rightly.

Which is why I always push for people to invest with their discretionary income and if they are just starting out on their investment journey they should start small, that small they are starting with is way better then not starting at all when they've already figured out their discretionary income, delay can lead to not even investing at all, so start if you've figured out your discretionary income, to be on the safe side start small with at most 1/3 of your discretionary income, if you don't already have you backup funds in place then you can start with your emergency fund, using another 1/3 of your discretionary income for it, there is no need to rush but that doesn't mean you shouldn't start when you already have the means to do so.