Wrong way to accumulate.

[Outhue]

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.

Dollar cost averaging works very well for me since the beginning of this bear market, but I don't think that DCA in every dump is the best strategy, because we can keep going sideways for weeks and suddenly things change from bear market to a bull market.

The present market is identical to the 2015 market movement, Let's not forget that the dump of 2020 hit that hard because of a COVID-19 virus outbreak, it's better to keep DCA whenever you have the spare money, and if a new dump happens it's still all good.

Many people will lose the buying opportunity because they want a certain big dump, like $10,000 a Bitcoin, I am not saying this is impossible but the chances are very slim already.

[slaman29]

Personally, I think investors are just those who think long term and they all follow some kind of simple formula that doesn't think of Bitcoin any differently than all the other assets they may have in their portfolio.

That's the mistake most people make. They see Bitcoin as special, like it can go 10x normally just because of past growth. And you never presume in investment.

[Altryist]

Personally, I think investors are just those who think long term and they all follow some kind of simple formula that doesn't think of Bitcoin any differently than all the other assets they may have in their portfolio.

That's the mistake most people make. They see Bitcoin as special, like it can go 10x normally just because of past growth. And you never presume in investment.

Now you should not expect such a big growth from bitcoin, or rather, growth will be expected, but it most likely will not reach such high levels as it was before. The reason is simple, the more expensive bitcoin becomes, the more money it needs in order to double. I don’t expect anything supernatural from bitcoin, x3-x5 I think it will be quite within reach in this bull market.

[salad daging]

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

They are too imposing but never how other needs and demands, see how the cash flow that is obtained every month should not be entirely for bitcoin at least 20% can be put into bitcoin accumulation.

Actually there is nothing wrong with the accumulation of bitcoin I think it is good than nothing, but does it become pressure to become stressed because too much is spent on accumulation? For me it's the wrong way we never force to invest in bitcoin unless we are ready for the risks it faces, for me accumulation is good it just has to be in accordance with other needs so that it can be balanced.

[Jawhead999]

There's nothing wrong if someone convert all of his money into Bitcoin as long as he believe in Bitcoin and don't trust with any other currency. Even he's need a money to buy something, he just need to sell some of his Bitcoin and withdraw fiat, Bitcoin is a currency and high liquidity, no need to worry.

How can someone don't want to spend 1-20% of his earning to buy food? if you not eat you will die.

[m2017]

Accumulation can't be wrong way, because even if you accumulate wrong way, you are still gaining something. In my opinion, it is better to accumulate wrong way than to spend correctly.

The processes of stress and pressure on themselves when investing in bitcoin are peculiar only to beginners. Experienced investors don't accumulate wrong way, as you put it. With experience comes a sense of calm, which avoids the discomfort and anxiety, which allow not to invest more than what an experienced investor can afford to lose. In general, an experienced investor will do everything to avoid losses and think through his actions carefully.

[Agbe]

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

There are plenty ways one acquire bitcoin in a wrong ways. By scamming others, borrowing money to buy bitcoin and planning to pay it in a short time is also wrong. These are some the wrong ways I call recall for now. Bitcoin is not get quick investment so long term investment is the best way to go about it. Accumulating bitcoin at the right time is a good thing but the investors should invest it with a long term.

[Z-tight]

There's nothing wrong if someone convert all of his money into Bitcoin as long as he believe in Bitcoin and don't trust with any other currency. Even he's need a money to buy something, he just need to sell some of his Bitcoin and withdraw fiat, Bitcoin is a currency and high liquidity, no need to worry.

I believe there is something wrong with that, BTC is not yet accepted everywhere as a currency and method of payment, if that was the case and people could spend their BTC's on the go everytime, then there wouldn't be anything wrong holding only BTC for those who choose to. But it is surely inconveniencing to have to convert your funds from BTC to fiat everytime you want to spend, adding the tx fees makes it even more difficult to do.

You should surely hold some of your money in your local fiat currency for spending, and also have BTC in a hot wallet for spending on the go, that is if you live in a country where you can buy a few things with BTC, the rest of your BTC's should either be in a hardware wallet or airgapped wallet.

[tread93]

I think that it's harder to keep bitcoin than it is to get it. If the user has it down in his mind and is convinced that BTC is here to stay its easier to hold on to and accumulate more of. Someone who doesn't have a high pain tolerance or risk tolerance will not do well with crypto in general lol. BTC accumulation no matter how big or how small is always a great thing.

[Finestream]

When people become greedy thinking that bitcoin could make them instant rich that’s why they invest all in, putting all their hard-earned money into it because of the wrong belief that if they’ll invest bigger amount, the amount of profits will certainly become huge too. Of course, in a volatile investment like bitcoin, there’s no assurance if you’ll be in profits or not, or when will be the time you’ll end up in profits. Because I believe the reality in bitcoin investment is that the bigger amount you set to invest, the higher chances of losing as it only increase the high risk of losing in a volatile investment.

[worle1bm]

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.

For DCA investment the price don't really matters because you have certain goals to accumulate for a specific time period or don't want to sell so you just go with it.That's a good way to accumulate actually without caring too much for prices and your average investment can turn to be in profitable state easily after some time when they gets boost.

[milewilda]

When people become greedy thinking that bitcoin could make them instant rich that’s why they invest all in, putting all their hard-earned money into it because of the wrong belief that if they’ll invest bigger amount, the amount of profits will certainly become huge too. Of course, in a volatile investment like bitcoin, there’s no assurance if you’ll be in profits or not, or when will be the time you’ll end up in profits. Because I believe the reality in bitcoin investment is that the bigger amount you set to invest, the higher chances of losing as it only increase the high risk of losing in a volatile investment.

Being greedy is a very normal human being behavior and it is really just that there are people who are really that able to control such emotion and there are people who cant on which it would really be resulting into those steps and decisions on which it isnt really that something realistic or something to be on the right path anymore on which it is really just that normal that decision making on the time that you are on the situation on which
you are investing on Bitcoin and having that perception about being rich? This is the  time that your greediness would kick in but sooner or later you would really be able to realize that its never been that something realistic
on having this kind of approach because literally speaking about into its movement, you could eventually tell that it wont really be that possible, unless if you have invested that big but of course not everyone would really be having the capability on doing this and only that just limited on few individuals. Its not bad on being optimistic towards it, it is really just that right that you should be that sensible on whatever decisions that you had made on.

[South Park]

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

I do not think there is a wrong way to accumulate bitcoin since getting bitcoin at any price can be a good decision, the issue is with holding your coins, many people think that after buying bitcoin they only need to wait for a few weeks in order to see some results but this is not the way things work, it usually takes years for this to happen and simply the majority of the investors out there are not really ready to make that kind of commitment, as they invest too much money in this market and at some point they are forced by the circumstances to sell for a bad price.

[panganib999]

Just cut the crap and save yourself the trouble by employing Dollar Cost Averaging or DCA.

People have to realize that even though bitcoin is effectively tied to the dollar as it stands today, it's still its own currency and the highs and lows are really negligible if you come to think of it, nevertheless for those people who are not keen at losing money, DCA is your best friend as it allows you to accumulate and accrue bitcoins at regular intervals, regardless of the price. Allows you to stock up on bitcoin too without the hassle of timing out your buys and sells, and ultimately sets you up for a profit especially since we all know that bitcoin is a net positive asset anyway. So while the short-term method you're talking about is good and has its caveats, the only thing that's really stopping you from investing using the DCA method is your own psyche.

[Mr.suevie]

There's nothing wrong if someone convert all of his money into Bitcoin as long as he believe in Bitcoin and don't trust with any other currency. Even he's need a money to buy something, he just need to sell some of his Bitcoin and withdraw fiat, Bitcoin is a currency and high liquidity, no need to worry.

How can someone don't want to spend 1-20% of his earning to buy food? if you not eat you will die.

I think many folks are completely lost on the fact that Bitcoin is actually money too and what is money meant for? It's covers a wide range of things which are payments,   savings and so much more but Bitcoin is just special because of its decentralized nature and the ability for it to have the feat of store of value meaning it's value continually adds up overtime unlike fiat which is quite the opposite.

[Rengga Jati]

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 is quite unreasonable. Because we will usually stay private and will always maintain our privacy when investing. So, the possibility to feel like competing with other people is probably very small. Because we don't know whether other people have bigger or smaller Bitcoins than us. Unless the person knows a few other people and wants to feel that they are superior, this is possible. But I'm sure, only a few who think so. Because the investment is for personal gain, for the sake of getting profits that are in accordance with expectations.

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

Yes, this is why some people who invest in Bitcoin experience high pressure and depression. Because they start with the wrong understanding and target, or you could say it's excessive. Because they only think from one side, namely that they can get rich from Bitcoin like other people. others who are also successful from Bitcoin. So especially when Bitcoin becomes hype, they will do everything including borrowing money to buy Bitcoin and hope to get many times the profits from this investment soon. And this unfortunately happens too often. And finally they will experience high enough stress when reality does not match their high expectations. because they invest beyond what they can really afford.

[Dr.Bitcoin_Strange]

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.

For some people, after having a bad investment with Bitcoin, which is usually their fault, they end up with a bad mindset towards Bitcoin, and as such, they can misinform others of their bad experience with Bitcoin, which can make the person not want to invest in Bitcoin even after having the interest to do so. Some people, too, make those kinds of mistakes, and they learn from them and do better, but those who are just in search of a quick and large profit usually make those kinds of mistakes. You know what some investors do? They are aware of what the consequences would be, but they just decide to try their luck, believing that before they would have a need for money, the price of Bitcoin might have earned them a little profit, and they would just sell off some little fraction of Bitcoin. But sometimes things don't just work as planned because the market is usually unpredictable.

[Vaskiy]

When one starts to accumulate it is upto his ability. We can't be sure that he is stressing himself to accumulate more. He can be doing some additional work or he might've cut some unwanted expenses to increase the accumulation. We aren't not late to the party and investing on bitcoin regularly will surely help with better profit in the long run. There are people who focus on short term profit investing huge amounts. This shouldn't happen, because we aren't sure of the rise in the price. In all means we should have the patience and the long term focus, in between if the Market have risen we should make use of it.

[goldkingcoiner]

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.

Instead of being a trader, you should be a hodler. DCA is good for converting your worthless fiat into Bitcoin as efficiently as possible, but you must remember not to sell. Not even when things are looking really grim. So in other words no back and forth trading. Otherwise your DCA strategy becomes worthless and you grind your money away with trading fees, or worse with trading on a loss.

Not everyone is as disciplined to do this but eventually, when they become Bitcoin veterans, they will realize its the best way.

[peter0425]

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

For me , it is not the way of accumulating but on how they are thinking why they accumulate.

Imagine majority of the people I knew that bought bitcoin believe that this will make them rich just by buying and holding.

so that would be the best to tackle than how they are buying.

because no matter how they bought but their belief is what importance, and they also must understand that this is currency and not a store of value.