Wrong way to accumulate.

[Lida93]

Basically almost every bitcoiner is in for accumulation committing  certain amount of investment with a timeline to it. It could be for short term or long term plan.

Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet  up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you  have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

[bittraffic]

The most popular way of doing it is Dollar Cost averaging or DCA. Basically, buy some BTC every time the price dips. Doing this in the bear market is obviously stressful so you gotta doing it while the bear market is over and has calm down already.

If you are a trader you already know how to check it on a weekly scale where to bottom is somehow calmer and we are about to jump up.  This is the time when an investor planning to DCA makes a huge profit.

[jossiel]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

Lack of patience.

They think that as people tell that they should DCA and they obliged, they'll already going to become rich. That's not it, even if you DCA and follow suggestion of experienced people, patience will still bring you far.

As said that it shouldn't be pressuring and stressing, many of the investors are not patient. They think that at all times the market is hyper, no it's not.

[mindrust]

Long term DCA'ing works the best. You simply buy bitcoin every month or week. The amount may change in time but it is better to spend a certain amount every time. $1000/month or $500/week, it all depends on your finances. You do this till you reach your target wealth and then you can do whatever you like. (buying a home, car whatever) Since bitcoin goes always up in the long term because of its limited supply, this is a foolproof way of making money. Don't be fooled just because btc has been going sideways for a while, it will shoot up again after the next halving.

[CryptoHeadlineNews]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

Bitcoin have come to stay, and until people get to understand that concept, they will always have problems with investing in Bitcoin. So apart from what you just said, another wrong way to accumulate Bitcoin is by taking a loan to invest in Bitcoin, which I can it the worst thing any individual could ever think of doing, because the fact that Bitcoin is a volatile currency which have the potential to rise in price, so does it also have the potential to fall in price too, whereas you loan interest is constant, which makes it a wrong decision to ever make. Because its better to invest little by little in Bitcoin than taking a loan.

[Aanuoluwatofunmi]

Basically almost every bitcoiner is in for accumulation committing  certain amount of investment with a timeline to it. It could be for short term or long term plan.

Trading is what we often term for the short one while those that goes long are investors who have made bitcoin turned an investment for them to hodl over time, we all do this to make profits, the more we accumulate the more others are selling for us to have an entry point.

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do.

It's very important to invest what you can afford loosing, but bitcoin investment is not like gambling that you loose your entire investment in it, little part of it can can be lost while trading and on the same vein you have every opportunity to make more additional profits to what you have invested.

Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up

I don't know the mentality that some have towards what bitcoin is since everyone can picture it use from different perspectives, but most times we rush into doing something we often rush out of it as well, there's no need of rushing in doing anything, it will have negative influence than the benefits we may expect.

[darkangel11]

The most popular way of doing it is Dollar Cost averaging or DCA. Basically, buy some BTC every time the price dips.

DCA is not about buying the dip. It's about buying in a certain time, like 1 a week or once a month, regardless of the price.
It's of course better to buy as much as you can, so looking for the cheapest bitcoin is a great idea, but it's not DCA and DCA is not the best way to accumulate. It's great for people who are to busy with other things and cannot watch the price waiting for it to meet their target, like some traders do.

Doing this in the bear market is obviously stressful so you gotta doing it while the bear market is over and has calm down already.

Doing it in a bear  market is the way to do it. Would you rather DCA when bitcoin is at 50k?

[hatshepsut93]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

I think the profit taking is a bigger problem than accumulation. Too many people are setting goals for bull markets, like waiting for $100k and completely miss out on opportunity to sell high and then buy low. It's okay to not want to be a short term trader and hodl, but every bull market has a short window of opportunity for maximizing the profit. If you take this opportunity, it becomes less important how you accumulate.

[milewilda]

Basically almost every bitcoiner is in for accumulation committing  certain amount of investment with a timeline to it. It could be for short term or long term plan.

Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet  up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you  have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

Just let them be, because on the time that they would be able to see that they dont have much money left in their pockets or even on their banks then this is where they would be making out some realization that they did
that much which isnt supposed to be that way because we know that we do have different priorities in life on which it would be normal that there should really be allocation in each part on which it is really that playing a crucial role in terms of living. We cant really just put everything on one thing which we know that the risks would be always there. Dont make yourself that really too impulsive in towards of thinking that you had missed out the golden train because this is the main reason on why you would really be making yourself that desperate. Well, its their choice to make since its their money but thinking up realistically then it would really be better that they would really be minding about those risks involved or attached to it.

There's no assurance that this would last for a life time, there's no assurance that it would be able to surpass a million per coin but since we've seen its potential and the previous achievement or milestones
that it did reach out then there's no doubt that this is where investors been holding and been hoping into.

[Weawant]

Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet  up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you  have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.

It doesn't matter for how long you accumulating, what matters is when you achieve your goals. Don't be in a competition with anyone because you don't know their financial power. Buy as your money can reach and hold in your wallet and not on exchange or you can lose it

Investing in Bitcoin with all the money you have is a feet wrong move because Bitcoin has lots of volatility that the market can dip anything without giving investors a clear warning and when that happens you'll be forced to sell your bitcoin and that'll be at lost making you lose.

It doesn't matter if you're accumulating or investing by buying in one trade but you should never use all the money on you to buy Bitcoin as that's a wrong way of investing, only invest with your spare money that you won't need for a long duration so it can yeild a better profits.

[lionheart78]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

I agree with what you stated.  Aside from that, people tend to move when they are hyped, one of the wrong move of people who are investing in Bitcoin is that they are carried away by the hype.  They only start buying when the news is already selling.  This will give them a disadvantage because when that time comes, the price has already started surging.  so they end up buying an inflated price of Bitcoin.  It is best to accumulate when the news is still silent.  Other investors tend to avoid buying when the market is in its bear market, they don't think that a bear market is the best time to accumulate.

[JoyMarsha]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

joining the crypto investment market before having the necessary funds. Most investors are guilty of this specific act. When a friend of theirs advises them to invest in bitcoin, or they read it elsewhere that bitcoin would do well at a specific period, they tend to mount pressure on themselves in the imagination of what they would gain if they are to invest in bitcoin. As they wait for what they heard about the bitcoin price to happen, they will attempt to invest huge money than they can afford to lose. When things don't turn out as they had hoped, they begin to regret their initial decision to invest in Bitcoin

[Alpha Marine]

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do.

I've come to find out recently that some people have the wrong meaning of "invest what you can afford to lose". They believe it's money that is not useful to you or something, which is funny because there can be no money that is not useful. Some believe it's spare money. Money that you do not need for anything at the moment. While this may be correct, if you wait for money that you don't have a use for at the moment, you may not invest in Bitcoin.

There are things you have to forego in other to invest in anything, including Bitcoin. The saying "invest what you can afford to lose" means to be reasonable in your investment. Don't invest all the money you have when you know you have nothing else to live on. Don't starve yourself to invest. There are very important things that need to be done, maybe for yourself or your children, don't forego things like that and use the money to invest in Bitcoin. There's no point having money yet you can pay the hospital bills of your kids.
There are things you can sacrifice, and there are things you can't. It's left to every individual to decide what he can and cannot sacrifice.
The bottom line is, to be reasonable, be responsible in your investing.

[Oasisman]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

They must be taught and told the wrong way as well, as if the person who convinced them to accumulate and invest in bitcoin might have put a pressure on his words, telling them how much bitcoin have grown over the years.
Sometimes a person who's into bitcoin for quite some time already may sound like they're pressuring someone who's not into bitcoin yet, like they need to catch up as fast they can so they won't get left behind in the next bull train.
It's all about rushing things out to try and be rich overnight kind of mindset that puts people into that kind of situation.

[Ndabagi01]

Basically almost every bitcoiner is in for accumulation committing  certain amount of investment with a timeline to it. It could be for short term or long term plan.

Not all bitcoiners are looking to accumulate; some simply buy once and wait for their savings to rise over time before withdrawing. Although most people are obligated to contribute more to their savings and do not always employ the DCA approach. They only buy when they have enough money to do so.

For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you  have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.

This should not be viewed as a pressure, and the sooner investors are aware of it, the better for them to avoid major disappointment later on. I don't think an accumulation target should be a priority because it can cause your mindset to be focused on achieving that target even when you can't afford it at the time, putting you under more pressure and, in the end, you'll still take money out of the investment to pay bills and for personal expenses.

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

Following the method of accumulation of others. Being influenced by the actions of others during the accumulation process. Our pockets are not the same in terms of our societal earnings. My 20% free money to invest could be worth 80% of another person's pay, which if the person continues, will leave them broke and begging for money to feed before the following month's salary arrives. As you stated, bitcoin accumulation is not a pressure issue, but one should only invest what they can afford to lose, cutting their coats according to their sizes.

[The Cryptovator]

Each individual devises their own strategy for managing their finances. Whether it's trading or holding assets with a specific goal in mind, not everything will unfold as anticipated. Therefore, it's crucial to segregate trading funds from personal finances to avoid future regrets when funds are required for sustenance. This is why the advice commonly given is to invest only what you can comfortably afford, as circumstances might necessitate adjustments to the original plan.

[aoluain]

Is there a wrong way though?

Everyone has a different budget different outlook and different goals which also means
a time when they decide or think is their opportune time to  make whatever move they want
in order to accumulate.

There are those who will only be able to spend $100 per month in order to buy Bitcoin
and there are others who will trade $1000's in a few hours.

Some people will liquidate their holdings after the next halving and buy back when the
bear market is at its strongest, others will prefer to keep Hodling until the very long term.

[Peanutswar]

People keep fear of missing out once they saw other people accumulate as they can and secure for another all-time high they want to do the same thing and make an investment as they can to catch up but also we need to consider the current state of the economy and the market price movement yes we need to accumulate as possible but if you made a wrong entry this cause your money to have a negative unrealize loss so instead wait for the market opportunity and buy and not just buy without a proper plan.

[Asuspawer09]

Basically almost every bitcoiner is in for accumulation committing  certain amount of investment with a timeline to it. It could be for short term or long term plan.

Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet  up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you  have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

I mean dollar cost average works great and you're not risking anything on that since you're just using or setting a small amount maybe your salary to be used to buy Bitcoin right? And it would be great for long-term investment because you could just accumulate more and more until you have a huge investment while waiting as well for the right time to sell. I mean short-term investment doesn't really have a great profit if you're going to accumulate you're already aiming for the long term, short-term investment needs huge funds in order to take a good profit. So that is where the risk could come because you getting pressure to make a profit in just a small amount of time, it's cryptocurrency and bitcoin the market has its cycle so we should aim at the top we need to be patient.

[SquirrelJulietGarden]

Basically almost every bitcoiner is in for accumulation committing  certain amount of investment with a timeline to it. It could be for short term or long term plan.

Not all investors do Dollar Cost Averaging for their investment and usually they just buy bitcoin on time and have no idea about DCA.

They only do DCA if they have more sources of income that contributes for their capital and if they only use their savings to invest, not yet to see profit, they will not buy more.

They probably have idea about DCA after experience in the market a few months or years. Sometimes they do DCA without idea about this method, just buy more when they smell chances.

https://dcabtc.com/