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Author Topic: Buy Buy Buy or Sell Sell Sell?  (Read 149309 times)
Padi24
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Today at 12:03:32 AM
 #17341

You are right. An investor doesn't needs to have a stable source of income before they start investing in bitcoin. The most important thing before starting to invest in bitcoin is to be able to figure out if they have discretionary income to invest with. Those that their income isn't stable, can still buy bitcoin by using whatever amount of discretionary they have available.
Even those that have a stable source of income, may still not be able to invest if they are unable to figure out there discretionary ,  as most folks may end up spending money unnecessarily. So a good financial management is far more important than a stable source of income.
Those that doesn't have a stable income may find it difficult to figure out there discretionary and should avoid doing DCA with a fixed amount.

Having a stable source of income is fine, but it is not a must that every body must have a stable source of income before venturing into bitcoin investment. However, no matter how your cash flow looks like whether it's steady or slow so Long as it is enough to cover Thier expenses and still remain some leftover then it's fine, they don't need to bother themselves too much again unless they still have the energy or the capacity to look for more job to add it together with Thier current job. but if what they are  doing is giving them a reasonable amount of money even though it does not come all the time maybe weekly or monthly so long as it can cover Thier expenses and still remains a leftover I would say that they are in a better position to start investing in bitcoin. It is only those that does not have any source of getting money that may be finding it difficult to invest in bitcoin, because since they don't have any source of getting money apart from seeking for help from families and if they eventually get support from them they will have to use the money to sort Thier basic necessities but a time will come when they will want to cheer up and start working hard so as to enable them meet up Thier expenses and also try to focus on achieving Thier goal or target such as bitcoin investment.
Charcol
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Today at 09:58:26 AM
 #17342

We need to make investments consistently. When you break up once, you will not be able to carry out your long-term goal. As a result, maintaining consistency in investing requires exercising self-control.
This is your misconception. Our lives and expenses do not follow a fixed schedule. Your expenses are not the same every month. If your medical expenses, family needs or any other urgent expenses increase, then you may not have discretionary income. Then if you buy only with the necessary money to show consistency and think that you are disciplined, then you are making a mistake. This is not called discipline. Rather, discipline is to keep your long-term plan within your means and start buying again when discretionary income comes.


Because you have the DCA facility in Bitcoin, your average purchase price lowers at the end of each day.
No, the average purchase price will not decrease every time you buy regularly. If you get the opportunity to buy at a new lower price than the previous purchase price, then the average will decrease. But the price of Bitcoin does not always decrease. If your purchase price increases day by day, then the average purchase price may increase. Buying regularly does not mean that you will get it at a lower price every time. Rather, you have the opportunity to buy without relying on finding the perfect price.

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