Wrong way to accumulate.

[Wimex]

From my point of view, the notion of starting with a short term plan and later migrating to a long-term perspective, derived from an introspective reassessment, which exemplifies maturity in financial decision-making… In response to your question, I would say that improper forms of hoarding are unmasked at the intersection of impatience and lack of understanding. .. An eagerness to keep up with others and a lack of financial education can trigger rash decisions. Which is why I would advise that it is crucial to banish irrational impulse and embrace an informed and balanced approach…therefore understanding that Bitcoin accumulation is a constant learning process and alignment with realistic goals is critical to avoiding malicious financial traps .

Finally I will say that embracing an informed approach, free from competitive pressures and tailored to individual circumstances, can forge a stronger and more sustainable financial path in the exciting life of investing in Bitcoin.

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[Dr.Bitcoin_Strange]

Yeah, some people just think they can put everything (all the money) they have into Bitcoin because they feel they can just take it back any time they want, or probably because they see that someone has invested a huge amount into Bitcoin, and without realising that even that person might have actually left some funds uninvested (in fiat) because of their personal needs, they themselves will just invest all their money without any reserve for some need. The healthy way to invest in Bitcoin or other investments is to only allocate a planned budgeted amount that will not get them pressured when the market falls beyond what they have bought.

[Afnan_faizah]

I think it is depend on each person because some people didn't have any experience in investment so what they know only invest their money and hope they can get profit, for people like this, DCA is the most appropriate  way to accumulate BTC and the worst way is do lump sum buying at the peak of bullish market trend.

[airbin]

It is an error any type of accumulation or hold based on the thinking of wealth with Bitcoin, simply buy or not. Knowing Bitcoin does not mean having to accumulate, it is an interesting payment method, that for some is enough.

[Humblevirus]

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.

Many people invest more in bitcoin than they can afford to lose. I think there are two types of people: those who are greedy to make it quickly in the crypto industry or those who don't know how Bitcoin works. Investing more than you can afford to lose in bitcoin can keep you worried all the time; it will hardly get you out of your mind because whenever the bitcoin market reacts negatively, you will never be yourself; in fact, it can lead you to sell off your bitcoin. Many people find it hard to make a profit on their Bitcoin investments because they never sell at the right time, and because they invested the money they were not supposed to invest in bitcoin, when the time comes and they don't have the money and do not have others to get money from, they will end up selling their bitcoin, even in a bear market.

[GreatArkansas]

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.
(....)

Some are also lucky, lucky means when the price of Bitcoin suddenly drops and it's their first time buying Bitcoin.
So for me, Dollar-cost-averaging is not for everyone.

I agree with OP about you there's no late in Bitcoin. Because Bitcoin is here to stay for the long term, for me, it's always good to accumulate because sometimes the more wait you are doing, the higher chance you will miss the train.

[Stella Mese]

of course it's never too late to invest in btc, but buying btc is of course very risky, and it's best to buy btc when there is a price drop and you definitely have to be able to analyze it properly.

and in my opinion using the dca system is a good way to buy btc, but in this case our need to analyze properly when making a purchase because the price of btc is very difficult to predict.

[dansus021]

Most people and yes most of the investors I think Either using a lump sum/all in or using the DCA technique but it is totally up to you both of them had the advantages and disadvantages. or you can combine it so the strategy might different from people to people

personally, I'm using dca but with a little bit of adjustment so when the my initial investment already give 20% profit I will take profit and then invest in other coin or invest again when the market had a correction

[HajiBagi]

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.

The best thing for people to understand is that just because you invest in bitcoin and it makes you happy doesn't mean you won't lose money at some point. As someone who has found success with bitcoin, you must keep in mind that not every day is happy; you can lose money when the price is low and make money when the price is high. However, as an investor, one thing you should keep in mind is planning; don't think that bitcoin has a fixed value. Putting all of your money into one particular investment or line of business is extremely risky, and a prudent individual with a strategy would never do so.
This truly happened to the new forum member because they constantly feel greedy whenever they hear about bitcoin and how the profit comes when the market moves in the right direction. They rarely inquire as to how long it will take or whether the price of bitcoin has fallen at any point. Even if the price of bitcoin didn't constantly plunge, you shouldn't put all of your savings into one investment because you might have other expenses or financial problems that need to be taken care of that you won't be able to afford.

[davis196]

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.

Investing what can't afford to lose isn't investing. It's basically financial gambling and poor risk management.
The only wrong way to accumulate Bitcoin is this. You gather some BTC, the price crashes, you panic and you sell. Then you start gathering BTC again, the BTC price crashes again, you panic and you sell again. And so on... If you don't get caught in panic selling, then all the ways to accumulate BTC are right.
You are wrong about not arriving late to the Bitcoin market. I wish would have invested in Bitcoin back in 2012. I will always have the feeling that I arrived late at the Bitcoin party.

[eightdots]

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

Don't compare yourself to others when investing. Your money belongs only to you. Just as you cannot be a partner in the profits of others, others are not partners in your profit or loss. Calm your mind and invest. Take responsibility for everything you do. Get rid of the thoughts like what price did others buy bitcoin, is the price I bought high?

Everyone has their own budget. We all invest with our own budget and try to increase our capital and make a profit. While doing this, we need to have knowledge about the market.

Another important issue is to consider all risks and to determine in advance the measures we will take against the risk of loss. In this way, we can get out of many difficult situations.

[Lida93]

Yeah, some people just think they can put everything (all the money) they have into Bitcoin because they feel they can just take it back any time they want, or probably because they see that someone has invested a huge amount into Bitcoin, and without realising that even that person might have actually left some funds uninvested (in fiat) because of their personal needs, they themselves will just invest all their money without any reserve for some need. The healthy way to invest in Bitcoin or other investments is to only allocate a planned budgeted amount that will not get them pressured when the market falls beyond what they have bought.

Whenever I observe such kind of people what comes in my mind is that these are the people that didn't take time at all to study about bitcoin technology and risk management technique in investment. They're only occupied with the mentality of making profits through the currency BTC, and they think that by excessive accumulation they can easily make profit in no time.
Wether you want to accumulate or DCA you must do it under a well planned budget that it doesn't affect your physical cash (fiat) spending strength on responsibilities and financial challenges that may arises in the future. By so doing you can seamlessly give your BTC investment a lot of time as it may require to yield good returns but some persons fail to grasp this tenet.

[armanda90]

Unpredictable with some investor when accumulate bitcoin or other cryptocurrency assets, many of them have urgent needed and first planning with long term investment have cut off as short investment. For single its easy manage with urgent needed but when having family many unpredictable needed have to buy and selling assets investment is an option we have. I am so disappointed when becoming single person not accumulate bitcoin and altcoin as much possible and right now with much salary receiving from working still can't spent more than 50% for saving or accumulate in cryptocurrency.

Suggest for single person invest as much possible in cryptocurrency with long term planning, you can't have the same planning in the future when having family.

[Poker Player]

I think it is depend on each person because some people didn't have any experience in investment so what they know only invest their money and hope they can get profit, for people like this, DCA is the most appropriate  way to accumulate BTC and the worst way is do lump sum buying at the peak of bullish market trend.

Well, in general it is worse than DCA but it also depends on how much you are going to hold what you buy. Someone who bought at the 2013 peak at $230 would lose money when the price dropped within a couple of months if they panicked and sold, but if they knew how to hold and didn't sell until the price was at $23K this cycle they made a lot of money, multiplying the initial investment by 100.

It is very difficult to hit highs and lows, but what has proven extremely profitable in Bitcoin is to hold for long periods, say a couple of cycles.

[blckhawk]

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.

This is what I do too, especially when I try to balance my budget for the month, I always have around 100$ allocated for my DCA at around 10$ whenever I buy bitcoin and then if there's left from that I just buy bitcoin no matter the price with the leftover money. Although I've only done it for about a month now because back then I buy bitcoin in bulk especially when the prices are much lower than the current price right now.

[xSkylarx]

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.

Lucky for me, I am not that kind of person that is hastily investing in Bitcoin, whereas others are in a race to see how much they can accumulate until halving, but I don't see a reason why. It is because they have more extra money that they accumulate more. They are just comparing their profits? I don't see benefits in it, and you are right, you go broke with this kind of mindset. That is why you always buy when you can just afford it, like if your salary is not enough this month, then buy next month. Don't stress yourself out by pushing yourself to buy even if you need to cut your needs because of your investment.

[Mauser]

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 think the wrong way of accumulating bitcoins is when new investors put in all their money at once because they think they price will move very quickly in their favor. Every investor should be realistic with themselves, and in the current market phase the time of making large short term gains are over. There are big risk in making only one big purchase and if the short term gains are not coming the investors can feel disappointed and leave the crypto world again. For me the best approach is DCA, buy a fixed amount every month with money that you don't need and would save anyways.

[taufik123]

-snip-
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.

It is better than just seeing when the opportunity is very good and can provide accumulated profits and increase assets more and more.

Knowledge of DCA should be known not long after trading if indeed they are active in trading.

Nowadays, gaining trading knowledge is quite easy and there are many contents that can be learned.
I also often do DCA on Bitcoin until now because I take advantage of the moment every 4 years, namely Halving in 2024.
Continue to buy and hold it is the current Bitcoin recommendation.

In addition, doing financial management will help manage every money that will be used, so it is clear where the money will go.

[pawel7777]

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.

I'm not sure if this part is true. Not everyone in the Bitcoin community is a conscious investor and many don't have any strategy at all. There's also a large group that would just "hodl" indefinitely without trying to time the market by buying/selling in the right time. Those don't have any st timelines that you mentioned.

For it's healthy when people set an accumulation target in accordance to their financial strength,

What do you mean by "accumulation target" here exactly? A target set a X amount of bitcoins is a flawed strategy as you can't predict the price, so your initial target could turn unachievable (if the price goes sharply up) or insufficient (if the price takes a nose dive).
Setting up a target as a percent of your total portfolio is also not ideal. If you stick to it, you could end up selling in the wrong time (just to rebalance your portfolio) and miss out on potential gains.

[Sim_card]

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

Trading is another thing that can be a bad strategy towards bitcoin accumulation. Some newbies that lacks the understanding on how to accumulate bitcoin will think that it is possible through trading without them having the fundamental analysis,technical analysis and risk management. They will end up losing their bitcoin through trading and this will make them weak and demoralized to achieve their targeted amount to accumulate. This doesn't apply to only newbies,even professional traders also loss during trading. In trading one losses more than making profit. I will call it greed because instead of hodling for long, you want to double your coins and you end up losing it.