Buy Buy Buy or Sell Sell Sell?

[ejikeme24]

Understanding the true nature of Bitcoin is also part of the basics knowledge newbies should be familiar with before proceeding to invests in Bitcoin. If a newbie is familiar with the true nature of Bitcoin and also understand how Bitcoin works, and still panic whenever the market is going down,it might be that he has invested with money meant for his basic expenses in Bitcoin. This is why in other to avoid panics or panic sells due to market volatility, newbies are advice to invest with money they can afford lose rather than using money meant for their Basic needs. The reason because investing with money meant for their Basic needs in Bitcoin is Gambling and it will also be difficult for them to attend to their bills properly and when they're unable to keep up,they will surely fall back to their Bitcoin portfolio,sell it to attend to those basic needs  pressing on them.

This issue regarding investing with money meant for basic needs is the reason why it is advised to invest from our discretionary income that's the money left after all our expenses it's being figured out. this way, guys hardly get tempted to sell their holdings unless they are being curious to taste profit, Because being curious to taste profit is also another reason why folks easily dive into selling their Bitcoin for short term especially when they see that they are in profit.

This isn't about investing with what they can afford, yeah investing with what they can afford is a good advice and they need to make sure that those money they are using to make their Bitcoin purchase is coming from their discretionary funds because failure to do that can still result selling their holdings for short term either in profit or at Lost.

[Scarlett_23]

The ONLY basic things that newbies need to know about bitcoin in order to get started is that number goes up (or might go up) and whether they have a discretionary income.

They (newbies) can figure out the details as they go, and surely the less that newbies know or feel comfortable, then the smaller their getting started amount would be until they build their knowledge and comfort level in regards to bitcoin, yet more importantly about their own cashflow situation, which would likely allow them to increase their bitcoin position size as their knowledge and comfort (getting used to it) increases.

I agree with you that Bitcoin is a digital currency. Bitcoin can be sent anywhere in the world through an internet connection without a third party or bank. The supply of Bitcoin is limited. When its demand increases, its price also increases. Newbies need to know the issues. Along with this, the financial condition of the new investor should also be understood. If a person wants to invest in Bitcoin, he should invest the amount of money that he cannot afford to lose or should be able to tolerate. After that, he should invest little by little continuously every month. Through continuous investment, his experience will increase, and thus his confidence in himself will also increase. And when his experience and confidence are built, it will not be unknown to that person whether he can invest in large amounts.

[Hardyrobust]

In my opinion, knowledge about Bitcoin is very important before starting to invest if they just don't know thoroughly, in fact, if a mistake occurs in the middle of their investment, it will impact their investment, even though it takes a lot of time to learn, in my opinion it is better than just doing it haphazardly, especially for beginners who don't understand about bitcoin investment which takes time, even up to years, to feel the benefits if they save in the DCA method because the price is getting higher now, but it does depend on how much they start investing and most importantly beginners also need to know that investing in Bitcoin is fluctuating in price so if they start investing and the price drops they are not surprised.

To have a basic knowledge of bitcoin investment is necessary before starting to buy bitcoin. This doesn't mean that one will acquire all the knowledge about bitcoin before they will start buying bitcoin. An investor can be learning more or expanding there knowledge about bitcoin while still buying bitcoin. The fact that they have started buying bitcoin doesn't stop them from learning about bitcoin infact is even an opportunity for them to learn more. I think the mistake that is likely to occur is investing with funds that is not one discretionary income. There is need for an investor to determine whether they have discretionary income before thinking of starting there investment.

[Muba20]

I agree with you, newbies don't need to know everything about bitcoin first before they can start investing, they just need to know enough to start, this enough will involve the investment strategy they want to use in their investment and to know that they need to invest with their discretionary income, this knowledge is basic and essential if anybody wants to invest in bitcoin so that they don't end up making huge mistakes in their investment before they even start to invest, this way the can learn anything else they feel they need to know while already investing with the basic knowledge they already have about bitcoin investment.

In my opinion, knowledge about Bitcoin is very important before starting to invest if they just don't know thoroughly, in fact, if a mistake occurs in the middle of their investment, it will impact their investment, even though it takes a lot of time to learn, in my opinion it is better than just doing it haphazardly, especially for beginners who don't understand about bitcoin investment which takes time, even up to years, to feel the benefits if they save in the DCA method because the price is getting higher now, but it does depend on how much they start investing and most importantly beginners also need to know that investing in Bitcoin is fluctuating in price so if they start investing and the price drops they are not surprised.

A lot of beginners jump into Bitcoin without really understanding what they are getting into, and that is where most mistakes happen. Taking the time to actually learn before investing is a big deal, it saves you from panic moves when the price drops and helps you build the right mindset for long term holding.

Spending too much time learning before investing will put you off investing. Bitcoin doesn’t require a lot of knowledge. It is best to start investing with a good education. Those who try to learn about Bitcoin without investing will definitely make mistakes. No one knows how much Bitcoin can change in the next few years. If the price increases, many investors may be discouraged from investing, which will increase long-term regrets. If you want to learn about Bitcoin, I think you should start investing as soon as possible.

[Derekfunds]

I agree with you, newbies don't need to know everything about bitcoin first before they can start investing, they just need to know enough to start, this enough will involve the investment strategy they want to use in their investment and to know that they need to invest with their discretionary income, this knowledge is basic and essential if anybody wants to invest in bitcoin so that they don't end up making huge mistakes in their investment before they even start to invest, this way the can learn anything else they feel they need to know while already investing with the basic knowledge they already have about bitcoin investment.

In my opinion, knowledge about Bitcoin is very important before starting to invest if they just don't know thoroughly, in fact, if a mistake occurs in the middle of their investment, it will impact their investment, even though it takes a lot of time to learn, in my opinion it is better than just doing it haphazardly, especially for beginners who don't understand about bitcoin investment which takes time, even up to years, to feel the benefits if they save in the DCA method because the price is getting higher now, but it does depend on how much they start investing and most importantly beginners also need to know that investing in Bitcoin is fluctuating in price so if they start investing and the price drops they are not surprised.

A lot of beginners jump into Bitcoin without really understanding what they are getting into, and that is where most mistakes happen. Taking the time to actually learn before investing is a big deal, it saves you from panic moves when the price drops and helps you build the right mindset for long term holding.

Spending too much time learning before investing will put you off investing. Bitcoin doesn’t require a lot of knowledge. It is best to start investing with a good education. Those who try to learn about Bitcoin without investing will definitely make mistakes. No one knows how much Bitcoin can change in the next few years. If the price increases, many investors may be discouraged from investing, which will increase long-term regrets. If you want to learn about Bitcoin, I think you should start investing as soon as possible.

What is required to start Bitcoin investment is just a basic knowledge as any other knowledge can be gotten along the line as they progress and I can remember when I start my Bitcoin accumulation I just have a little knowledge about Bitcoin but today I have increase in knowledge and I have also grow and if I wanted to get all the knowledge before starting my Bitcoin accumulation it would have been a waste of time for me. But there is nothing wrong if someone think he or she can actuallly wait to get all the knowledge they want before starting and still be willing to invest. The increase in Bitcoin price or value will only make people who are not serious not to invest because why look at the price when the DCA method is already active.

[Ricardo11]

I agree with you, newbies don't need to know everything about bitcoin first before they can start investing, they just need to know enough to start, this enough will involve the investment strategy they want to use in their investment and to know that they need to invest with their discretionary income, this knowledge is basic and essential if anybody wants to invest in bitcoin so that they don't end up making huge mistakes in their investment before they even start to invest, this way the can learn anything else they feel they need to know while already investing with the basic knowledge they already have about bitcoin investment.

In my opinion, knowledge about Bitcoin is very important before starting to invest if they just don't know thoroughly, in fact, if a mistake occurs in the middle of their investment, it will impact their investment, even though it takes a lot of time to learn, in my opinion it is better than just doing it haphazardly, especially for beginners who don't understand about bitcoin investment which takes time, even up to years, to feel the benefits if they save in the DCA method because the price is getting higher now, but it does depend on how much they start investing and most importantly beginners also need to know that investing in Bitcoin is fluctuating in price so if they start investing and the price drops they are not surprised.

A lot of beginners jump into Bitcoin without really understanding what they are getting into, and that is where most mistakes happen. Taking the time to actually learn before investing is a big deal, it saves you from panic moves when the price drops and helps you build the right mindset for long term holding.
The DCA method truly works, but like you said, it requires patience and consistency. Bitcoin is not some get rich quick thing, it is a long game, and the more you understand it, the better your conviction becomes when the market starts shaking people out..

And this is why an investor must have general knowledge about Bitcoin when starting to invest, when someone comes to invest without any knowledge, he is more likely to make wrong decisions, because he does not know about Bitcoin.
That is why he does not find any credibility in ignoring volatility, so he panics during volatility and because of this his investment may fail.
But if he has general knowledge about Bitcoin, then he will be able to handle himself during volatility, he will understand that Bitcoin is not a get rich quick opportunity, but a long-term investment.
He will be able to ignore volatility and try to buy more during this volatility, and this is why it is necessary to have a general understanding of Bitcoin when investing.

[Female King]

And this is why an investor must have general knowledge about Bitcoin when starting to invest, when someone comes to invest without any knowledge, he is more likely to make wrong decisions, because he does not know about Bitcoin.
That is why he does not find any credibility in ignoring volatility, so he panics during volatility and because of this his investment may fail.
But if he has general knowledge about Bitcoin, then he will be able to handle himself during volatility, he will understand that Bitcoin is not a get rich quick opportunity, but a long-term investment.
He will be able to ignore volatility and try to buy more during this volatility, and this is why it is necessary to have a general understanding of Bitcoin when investing.

Even as student it's not every thing you know the day you started school but as continue going you keep learning more things and the same thing goes to bitcoin investment. Trying to get a general knowledge about bitcoin without first been in the market will be some how difficult to achieve and it might take you a lot of time to catch up, what you basically need to get started with your bitcoin investment is having some basic knowledge about bitcoin investment and also your discretionary income to get started with.

[samadam007]

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

Exactly! The pattern is clear: the masses sell in fear at the bottom; they buy in greed at the top; only the patient wins. Best thing is to buy now, set a target and never sell out of panic

[PhilosopherKing]

To be honest, many people miss the real opportunity by doing excessive analysis before investing in Bitcoin. They think that if they wait a little longer the price will fall and then they can buy and make a profit. In my opinion, the most effective method is to make regular small investments which we call DCA. On the one hand this spreads the risk and on the other hand it also reduces mental stress. Because then you don't think too much about market fluctuations but rather your focus is on long term goals.

Edited out]
Any mindset is fine, especially when it comes to Bitcoin investment,

Our mindset is one of the factors that determines the success or failure of our accumulation journey, and that is why it is wrong for investors to have just "any mindset."  This is because is someone approaches Bitcoin investment with a gambling  mindset or a get rich quick mindset, it usually ends up really bad for those sets of persons. This is because anytime there is even a slight price drop, they will begin panicking and become very greedy anytime the price recovers. And with this kind of unstable actions it will be very difficult to consistently accumulate or even succeed in the long run. When investing in Bitcoin, a person do not need just "any mindset"  like you said, they actually need a long term mindset, it should always be part of the most top priority of every Bitcoiner.  The reason why investor needs this mindset is because it is mindset that understand volatility( which is a very important feature of bitcoin ), it makes it difficult for emotional decisions to control you due to temporary price shake, it is that mindset that accepts patience and also supports a gradual and steady accumulation of Bitcoin overtime.

[Fuso.hp]

The ONLY basic things that newbies need to know about bitcoin in order to get started is that number goes up (or might go up) and whether they have a discretionary income.

They (newbies) can figure out the details as they go, and surely the less that newbies know or feel comfortable, then the smaller their getting started amount would be until they build their knowledge and comfort level in regards to bitcoin, yet more importantly about their own cashflow situation, which would likely allow them to increase their bitcoin position size as their knowledge and comfort (getting used to it) increases.

I agree with you that Bitcoin is a digital currency. Bitcoin can be sent anywhere in the world through an internet connection without a third party or bank. The supply of Bitcoin is limited. When its demand increases, its price also increases. Newbies need to know the issues. Along with this, the financial condition of the new investor should also be understood. If a person wants to invest in Bitcoin, he should invest the amount of money that he cannot afford to lose or should be able to tolerate. After that, he should invest little by little continuously every month. Through continuous investment, his experience will increase, and thus his confidence in himself will also increase. And when his experience and confidence are built, it will not be unknown to that person whether he can invest in large amounts.

If we keep money in the bank, we do not have complete control over it, but if we keep Bitcoin, we will have complete control over that Bitcoin. In case of traveling abroad, we cannot carry extra cash, but we can carry Bitcoin as much as we want in a small device because Bitcoin does not actually exist. I do not think it is right to keep money in the bank for another reason, when we keep money in the bank and the amount of money is relatively large, an organization of the government of a particular country investigates the source of income and if they do not get everything clear, they freeze the bank account, that is, from that time on, the user cannot use his money anymore. Bitcoin is a platform where a specific person has complete control over the money, starting from holding his money to spending it. So holding Bitcoin is much better than keeping money in the bank.

[martinex]

If we keep money in the bank, we do not have complete control over it, but if we keep Bitcoin, we will have complete control over that Bitcoin. In case of traveling abroad, we cannot carry extra cash, but we can carry Bitcoin as much as we want in a small device because Bitcoin does not actually exist. I do not think it is right to keep money in the bank for another reason, when we keep money in the bank and the amount of money is relatively large, an organization of the government of a particular country investigates the source of income and if they do not get everything clear, they freeze the bank account, that is, from that time on, the user cannot use his money anymore. Bitcoin is a platform where a specific person has complete control over the money, starting from holding his money to spending it. So holding Bitcoin is much better than keeping money in the bank.

We also need banks, and they constantly keep up with the latest financial technology developments. If you have an ATM card with a special code, always make sure it has the logo of an international network like Visa or Mastercard. This way, we can easily make various transactions because it supports the features provided by the bank.

The choice is now up to each of us. Choose the easiest option, but if it's a hassle, what for.. Nowadays, using crypto is acceptable, even if you exchange it for gift vouchers, for example, here's the link: https://www.coinsbee.com. In the and, If someone need make a transaction and having a tool like an ATM with a special logo is no longer a problem as long as there's a balance in the account. Otherwise, it feels ridiculous.

[ruykeri]

Understanding the true nature of Bitcoin is also part of the basics knowledge newbies should be familiar with before proceeding to invests in Bitcoin. If a newbie is familiar with the true nature of Bitcoin and also understand how Bitcoin works, and still panic whenever the market is going down,it might be that he has invested with money meant for his basic expenses in Bitcoin. This is why in other to avoid panics or panic sells due to market volatility, newbies are advice to invest with money they can afford lose rather than using money meant for their Basic needs. The reason because investing with money meant for their Basic needs in Bitcoin is Gambling and it will also be difficult for them to attend to their bills properly and when they're unable to keep up,they will surely fall back to their Bitcoin portfolio,sell it to attend to those basic needs  pressing on them.

You have raised some very important points. However, I would like to add some personal points here, which is that during the volatility of the price of Bitcoin or the instability of the market, many people feel mentally weak. But it can also be taken as an opportunity. When the price of Bitcoin decreases in the market, the difference between investors and traders or gamblers is clear. The main thing is to hold it for a long time, no matter what. Those who regularly bought Bitcoin below $ 1000 in 2014 are now in much higher profits. Therefore, the market should be taken as an opportunity and for this, investing by following the DCA method is the most effective way.

[Barrykbest]

The ONLY basic things that newbies need to know about bitcoin in order to get started is that number goes up (or might go up) and whether they have a discretionary income.

They (newbies) can figure out the details as they go, and surely the less that newbies know or feel comfortable, then the smaller their getting started amount would be until they build their knowledge and comfort level in regards to bitcoin, yet more importantly about their own cashflow situation, which would likely allow them to increase their bitcoin position size as their knowledge and comfort (getting used to it) increases.

I agree with you that Bitcoin is a digital currency. Bitcoin can be sent anywhere in the world through an internet connection without a third party or bank. The supply of Bitcoin is limited. When its demand increases, its price also increases. Newbies need to know the issues. Along with this, the financial condition of the new investor should also be understood. If a person wants to invest in Bitcoin, he should invest the amount of money that he cannot afford to lose or should be able to tolerate. After that, he should invest little by little continuously every month. Through continuous investment, his experience will increase, and thus his confidence in himself will also increase. And when his experience and confidence are built, it will not be unknown to that person whether he can invest in large amounts.

If we keep money in the bank, we do not have complete control over it, but if we keep Bitcoin, we will have complete control over that Bitcoin. In case of traveling abroad, we cannot carry extra cash, but we can carry Bitcoin as much as we want in a small device because Bitcoin does not actually exist. I do not think it is right to keep money in the bank for another reason, when we keep money in the bank and the amount of money is relatively large, an organization of the government of a particular country investigates the source of income and if they do not get everything clear, they freeze the bank account, that is, from that time on, the user cannot use his money anymore. Bitcoin is a platform where a specific person has complete control over the money, starting from holding his money to spending it. So holding Bitcoin is much better than keeping money in the bank.

About your statement on control I get it, but saying Bitcoin doesn’t actually exist isn’t quite right. Bitcoin definitely exists, It just not in physical form. It’s digital, recorded on the blockchain where every transaction is verified and traceable. That’s what makes it secure and decentralized. What you said about self-custody is true though unlike banks, Bitcoin gives you full ownership of your funds without third-party interference.

[Finebone]

We also need banks,

Yes, we need banks so as to make purchases of goods and services through our local fiat currency, even though Bitcoin is superior, we still need our local fiat to buy things since Bitcoin is not accepting by all for now.
What I sees as a problem is holding a large amounts of money in fiat for a long time, because by so doing, inflation might eat into it value.

Nowadays, using crypto is acceptable, even if you exchange it for gift vouchers,

Yes it largely accepted in most organizations and in most countries but in the local market in my community, people don't accept it, even though they are aware of bitcoin and it potential, that's why we also need fiat in our society.

Additionally, if I want to be honest, though Bitcoin is created for transactional purpose, like buying and selling, but I would rather use my fiat for that and hold strong Bitcoin because I see it as more of an investment than something that we should be buying and selling with daily.

[ZeroVinsonN]

DCA strategy is not only the method or strategy that works for everyone rather all the methods can actually work for everyone depending on your capacity and your level of commitment, do you know that even with that fact that someone can use any amount to invest in Bitcoin at any price of the market, yet some people are not actually doing it well there by making it look like it is not working for them, so any method can work for anybody but it depends on how flexible your finance is and how well you can go about it.

Every investment strategy works as long as they are applied the right way, so it's not one the DCA method that works for bitcoin investors, it's just the most popular one since it appears to provide more opportunities for all kinds of investors with whatever budget range, it doesn't really discriminate in that regards, in a way while DCA doesn't care for price changes or market volatility but is also requires a reasonable amount of investment consistency which will ultimately demand alot of focus on the side of the investor and of course other bitcoin investment strategies require these things as well but arguably not as much as the DCA does. Anyone that can convince themselves to invest with the DCA and actually stay consistent in their investment can succeed in any other investment strategy, the level of hard work required to successfully pull of DCAing in a long term investment, will be enough to succeed in any other investment strategy as long as the investor knows what they are doing.

I do not fully agree with you. Its only those who make use of DCA strategy that should have no business timing the market. I hope you know that there are those people who buy the dips, and also happen to be long term investors, are you then saying that they shouldn't time the market?     Because the market volatility, timing the market is a very stressful and burdensome approach that is why new people to investment are always told to stick to DCA method because it is less stressful and does not require you to time markete.

I can't say I agree with you entirely, I could use lump sum purchase to buy bitcoin when the price is high, of course it would have been better to buy at a lower price but since my investment is going to be long term then the 10% difference between a high and low price will end up being inconsequential to me as an investor.
So while it is true that someone investing in bitcoin with DCA has no reason to bother with timing the market they are not necessarily the only ones who shouldn't be bothered by it, a lump sum investor can decide to not care about whether the price is high or low to buy, if the plan is long term then it makes no difference.

You are correct in what you are saying ZeroVinsonN, and it is true that Lump sum by itself is not really oriented towards whether there is a price dip or not, but instead is oriented towards buying bitcoin as the money comes available.. yet if the lump sum amount that has been received causes a person to be concerned about using all of the lump sum at that particular price, he may well decide to divide some of the funds in order to defer his purchase by time and/or by price.

It's simply a matter when the money becomes available to an investor and whether or not he or she wants to invest everything immediately or spread it out a little, if they decide to invest immediately then their only available choice is lump sum unless at that particular time there is a dip in the price of bitcoin then we can say that they are also buying the DIP even though that wasn't the initial intention since they just wanted to buy with all the extra money that was made available to them at that time but if they decide to spread it out then they would be DCAing since rather than buy immediately they are now buying in regular intervals until they've exhausted the available money, but if they were DCAing at let's say $100 a week and through one way or the other they got $5k extra discretionary income which they decide to spread out through 5 weeks then can we say that they are DCAing and buying the lump sum at the same time?

It seems to me that almost everyone would prefer to buy BTC lower rather than higher, yet part of the problem for any time that we choose to wait rather than buy right away is that we cannot really know if the BTC price might go up, down or sideways, so buying right away ends up serving as a kind of upside risk insurance. .since it is always possible that the BTC price will go up and never come back down, so newbie no coiners and/or low coiners likely are better off to just buy and keep buying rather than employing waiting strategies.. especially by definition both no coiners and low coiners don't have enough bitcoin.. so one of the most assured way of addressing their issue of having no coins or not enough coins is to buy an continue to buy no matter the price until they have enough or more than enough.

Well everyone wants to make a profit and if they can get even a 1% increase in their profit then they will take that chance, I know that I will. The problem only comes in when investors decide to wait for a cheaper price before buying, you can buy at a cheap price and it's even better since you get to make more profit from it but waiting for that cheap price to come deprives you of buying at other good prices just because they are not as cheap as you had hope them to be, in the process you end up wasting time and that lost time and buying chance will never be gotten back again and you are right, this is even more true for no and low coiners since they are on the lowest end of their accumulation cycle so delaying their accumulation only makes things more complicated for them as they might end up waiting for something that might never come and that chance would be lost for good.

So surely no coiners and low coiners can frequently have dilemas about when to buy and/or whether it is worth it to wait.. and surely a lot of them have gotten screwed in the last 3-4 years if they have been employing waiting strategies rather than employing ongoing buying strategies, and sure, sometimes they might have bought BTC at higher prices, and then the BTC price ended up going down rather than up, and they might have had felt some regret about their earlier purchases. yet at the same time, frequently  (and perhaps even most times) they really cannot have a lot of confidence that the BTC price is going to go down, even if a bunch of people are proclaiming that BTC prices are going to go down.. the same is true the last 3-4 years, and largely the BTC price has gone up in the past 3-4 years, and frequently it takes a whole hell of a long time to really build up a bitcoin holdings.. so likely it is better to just ongoingly buy, especially for newbies, rather than trying to figure out if the BTC price is going to dip or not.

Every investment strategy works as long as they are applied the right way, so it's not one the DCA method that works for bitcoin investors, it's just the most popular one since it appears to provide more opportunities for all kinds of investors with whatever budget range, it doesn't really discriminate in that regards, in a way while DCA doesn't care for price changes or market volatility but is also requires a reasonable amount of investment consistency which will ultimately demand alot of focus on the side of the investor and of course other bitcoin investment strategies require these things as well but arguably not as much as the DCA does. Anyone that can convince themselves to invest with the DCA and actually stay consistent in their investment can succeed in any other investment strategy, the level of hard work required to successfully pull of DCAing in a long term investment, will be enough to succeed in any other investment strategy as long as the investor knows what they are doing.

I don't think that DCA needs a reasonable amount of money before you can DCA, you can start your bitcoin investment with as low as $10 and continue like that buying weekly with DCA to keep your bitcoin purchase ongoing.

Anyone that has a regular discretionary income, can DCA with ease. All he needs is to be disciplined and committed so that whenever, his discretionary income is available, he DCAs immediately. Buying only at the dip is more stressful than persistent and consistent DCA because, you wouldn't know when the dip will come and it will take you unprepared meaning, you can miss what you have been waiting for and you might use the money.

Lump sum is that if you keep on piling up your money to buy at once when you're supposed to be DCAing with your discretionary income, you might end up not buying up to the quantity you should have bought worst-case is that you can even spend the money when a problem arises.

This is why I prefer to DCA maybe, if I got an extra caah or bonus that I don't expect, I can lump sum with it. Reserve funds is good to use in taking advantage of the dip.

As long as you buy bitcoin and hodli for a long-term with whatever accumulation strategy you will be fine but what matters most is the size of your portfolio which is the reason why you should accumulate as many bitcoin as possible for the future.

DCA definitely doesn't care for how much discretionary income you have as long as you have discretionary income to invest with, the amount you use to invest in bitcoin using the DCA is entirely your choice and that's why regardless of your financial status you can invest in bitcoin with the DCA, all you really need available to you in order to start is your discretionary and the will to start and stay consistent in you investment.
I would say that instead of saving up money to lump sum bitcoin it would be better to just use that money to accumulate as the money comes, sure you can end of saving and then buy with lump sum when there is a dip, this is only possible though if a dip happens at all while you are still saving up, if you are lucky enough and this happens then you will definitely be in for a bit of extra profit but the reverse is also the case of the price doesn't dip but keeps rising instead, you would end up losing good potential profit because you decided to save up to buy later instead of just buying now.
So yes DCA presents itself as being more advantageous for an investor so it's better to invest with it and lump sum when a large extra cash becomes available to you

[Crytohillss]

DCA strategy is not only the method or strategy that works for everyone rather all the methods can actually work for everyone depending on your capacity and your level of commitment, do you know that even with that fact that someone can use any amount to invest in Bitcoin at any price of the market, yet some people are not actually doing it well there by making it look like it is not working for them, so any method can work for anybody but it depends on how flexible your finance is and how well you can go about it.

Every investment strategy works as long as they are applied the right way, so it's not one the DCA method that works for bitcoin investors, it's just the most popular one since it appears to provide more opportunities for all kinds of investors with whatever budget range, it doesn't really discriminate in that regards, in a way while DCA doesn't care for price changes or market volatility but is also requires a reasonable amount of investment consistency which will ultimately demand alot of focus on the side of the investor and of course other bitcoin investment strategies require these things as well but arguably not as much as the DCA does. Anyone that can convince themselves to invest with the DCA and actually stay consistent in their investment can succeed in any other investment strategy, the level of hard work required to successfully pull of DCAing in a long term investment, will be enough to succeed in any other investment strategy as long as the investor knows what they are doing.

I do not fully agree with you. Its only those who make use of DCA strategy that should have no business timing the market. I hope you know that there are those people who buy the dips, and also happen to be long term investors, are you then saying that they shouldn't time the market?     Because the market volatility, timing the market is a very stressful and burdensome approach that is why new people to investment are always told to stick to DCA method because it is less stressful and does not require you to time markete.

I can't say I agree with you entirely, I could use lump sum purchase to buy bitcoin when the price is high, of course it would have been better to buy at a lower price but since my investment is going to be long term then the 10% difference between a high and low price will end up being inconsequential to me as an investor.
So while it is true that someone investing in bitcoin with DCA has no reason to bother with timing the market they are not necessarily the only ones who shouldn't be bothered by it, a lump sum investor can decide to not care about whether the price is high or low to buy, if the plan is long term then it makes no difference.

You are correct in what you are saying ZeroVinsonN, and it is true that Lump sum by itself is not really oriented towards whether there is a price dip or not, but instead is oriented towards buying bitcoin as the money comes available.. yet if the lump sum amount that has been received causes a person to be concerned about using all of the lump sum at that particular price, he may well decide to divide some of the funds in order to defer his purchase by time and/or by price.

It's simply a matter when the money becomes available to an investor and whether or not he or she wants to invest everything immediately or spread it out a little, if they decide to invest immediately then their only available choice is lump sum unless at that particular time there is a dip in the price of bitcoin then we can say that they are also buying the DIP even though that wasn't the initial intention since they just wanted to buy with all the extra money that was made available to them at that time but if they decide to spread it out then they would be DCAing since rather than buy immediately they are now buying in regular intervals until they've exhausted the available money, but if they were DCAing at let's say $100 a week and through one way or the other they got $5k extra discretionary income which they decide to spread out through 5 weeks then can we say that they are DCAing and buying the lump sum at the same time?

It seems to me that almost everyone would prefer to buy BTC lower rather than higher, yet part of the problem for any time that we choose to wait rather than buy right away is that we cannot really know if the BTC price might go up, down or sideways, so buying right away ends up serving as a kind of upside risk insurance. .since it is always possible that the BTC price will go up and never come back down, so newbie no coiners and/or low coiners likely are better off to just buy and keep buying rather than employing waiting strategies.. especially by definition both no coiners and low coiners don't have enough bitcoin.. so one of the most assured way of addressing their issue of having no coins or not enough coins is to buy an continue to buy no matter the price until they have enough or more than enough.

Well everyone wants to make a profit and if they can get even a 1% increase in their profit then they will take that chance, I know that I will. The problem only comes in when investors decide to wait for a cheaper price before buying, you can buy at a cheap price and it's even better since you get to make more profit from it but waiting for that cheap price to come deprives you of buying at other good prices just because they are not as cheap as you had hope them to be, in the process you end up wasting time and that lost time and buying chance will never be gotten back again and you are right, this is even more true for no and low coiners since they are on the lowest end of their accumulation cycle so delaying their accumulation only makes things more complicated for them as they might end up waiting for something that might never come and that chance would be lost for good.

So surely no coiners and low coiners can frequently have dilemas about when to buy and/or whether it is worth it to wait.. and surely a lot of them have gotten screwed in the last 3-4 years if they have been employing waiting strategies rather than employing ongoing buying strategies, and sure, sometimes they might have bought BTC at higher prices, and then the BTC price ended up going down rather than up, and they might have had felt some regret about their earlier purchases. yet at the same time, frequently  (and perhaps even most times) they really cannot have a lot of confidence that the BTC price is going to go down, even if a bunch of people are proclaiming that BTC prices are going to go down.. the same is true the last 3-4 years, and largely the BTC price has gone up in the past 3-4 years, and frequently it takes a whole hell of a long time to really build up a bitcoin holdings.. so likely it is better to just ongoingly buy, especially for newbies, rather than trying to figure out if the BTC price is going to dip or not.

Every investment strategy works as long as they are applied the right way, so it's not one the DCA method that works for bitcoin investors, it's just the most popular one since it appears to provide more opportunities for all kinds of investors with whatever budget range, it doesn't really discriminate in that regards, in a way while DCA doesn't care for price changes or market volatility but is also requires a reasonable amount of investment consistency which will ultimately demand alot of focus on the side of the investor and of course other bitcoin investment strategies require these things as well but arguably not as much as the DCA does. Anyone that can convince themselves to invest with the DCA and actually stay consistent in their investment can succeed in any other investment strategy, the level of hard work required to successfully pull of DCAing in a long term investment, will be enough to succeed in any other investment strategy as long as the investor knows what they are doing.

I don't think that DCA needs a reasonable amount of money before you can DCA, you can start your bitcoin investment with as low as $10 and continue like that buying weekly with DCA to keep your bitcoin purchase ongoing.

Anyone that has a regular discretionary income, can DCA with ease. All he needs is to be disciplined and committed so that whenever, his discretionary income is available, he DCAs immediately. Buying only at the dip is more stressful than persistent and consistent DCA because, you wouldn't know when the dip will come and it will take you unprepared meaning, you can miss what you have been waiting for and you might use the money.

Lump sum is that if you keep on piling up your money to buy at once when you're supposed to be DCAing with your discretionary income, you might end up not buying up to the quantity you should have bought worst-case is that you can even spend the money when a problem arises.

This is why I prefer to DCA maybe, if I got an extra caah or bonus that I don't expect, I can lump sum with it. Reserve funds is good to use in taking advantage of the dip.

As long as you buy bitcoin and hodli for a long-term with whatever accumulation strategy you will be fine but what matters most is the size of your portfolio which is the reason why you should accumulate as many bitcoin as possible for the future.

DCA definitely doesn't care for how much discretionary income you have as long as you have discretionary income to invest with, the amount you use to invest in bitcoin using the DCA is entirely your choice and that's why regardless of your financial status you can invest in bitcoin with the DCA, all you really need available to you in order to start is your discretionary and the will to start and stay consistent in you investment.
I would say that instead of saving up money to lump sum bitcoin it would be better to just use that money to accumulate as the money comes, sure you can end of saving and then buy with lump sum when there is a dip, this is only possible though if a dip happens at all while you are still saving up, if you are lucky enough and this happens then you will definitely be in for a bit of extra profit but the reverse is also the case of the price doesn't dip but keeps rising instead, you would end up losing good potential profit because you decided to save up to buy later instead of just buying now.
So yes DCA presents itself as being more advantageous for an investor so it's better to invest with it and lump sum when a large extra cash becomes available to you

Honestly, people really wants to make some gain if one can get 5% increments in their profit they can take some chances the issues comes up when only an investors decided to wait for a low price of bitcoin before embarking buying the bitcoin, as long as the investors purchase bitcoin and hod it for long term with the accumulations strategy  it is good to invest on lump sum period than targeting for price of bitcoin.

[SilverCryptoBullet]

DCA definitely doesn't care for how much discretionary income you have as long as you have discretionary income to invest with, the amount you use to invest in bitcoin using the DCA is entirely your choice and that's why regardless of your financial status you can invest in bitcoin with the DCA, all you really need available to you in order to start is your discretionary and the will to start and stay consistent in you investment.

DCA is only an investment strategy and it has no function or ability to care about anything you do. Similarly, Bitcoin does not and can not care about what you do with bitcoin. DCA is DCA itself, and Bitcoin is Bitcoin itself. They are only available things for you as well as everyone to use and invest money in if you have knowledge and belief in them.

There is actually an unofficial minimum requirement of discretionary income and also purchase value each time of your DCA. Because you can not buy $5 on exchanges as their minimum trade position value is $10. You also have to consider their minimum withdrawal value too as it will decide your minimum DCA purchase and withdrawal out of an exchange each time.

Use this website for checking withdrawal fees
https://withdrawalfees.com/coins/bitcoin

[@nn@_pen9]

In my opinion, knowledge about Bitcoin is very important before starting to invest if they just don't know thoroughly, in fact, if a mistake occurs in the middle of their investment, it will impact their investment, even though it takes a lot of time to learn, in my opinion it is better than just doing it haphazardly, especially for beginners who don't understand about bitcoin investment which takes time, even up to years, to feel the benefits if they save in the DCA method because the price is getting higher now, but it does depend on how much they start investing and most importantly beginners also need to know that investing in Bitcoin is fluctuating in price so if they start investing and the price drops they are not surprised.

To have a basic knowledge of bitcoin investment is necessary before starting to buy bitcoin. This doesn't mean that one will acquire all the knowledge about bitcoin before they will start buying bitcoin. An investor can be learning more or expanding there knowledge about bitcoin while still buying bitcoin. The fact that they have started buying bitcoin doesn't stop them from learning about bitcoin infact is even an opportunity for them to learn more. I think the mistake that is likely to occur is investing with funds that is not one discretionary income. There is need for an investor to determine whether they have discretionary income before thinking of starting there investment.

Agreed, learning about it first is the main foundation for investing. As we know, Bitcoin is known for its significant fluctuations or known as assets with high volatility. The most important thing for those who want to start investing is how they feel prices react to economic news and so on. This will give them an idea or experience before trying it. It is indeed better to use money that is not used for daily needs, This prevents stress when the market fluctuates unfavorably. This is why it's important to sense fluctuations early on before starting to invest to avoid acute panic when the market experiences a downturn.

[Silikiem]

Honestly, people really wants to make some gain if one can get 5% increments in their profit they can take some chances the issues comes up when only an investors decided to wait for a low price of bitcoin before embarking buying the bitcoin, as long as the investors purchase bitcoin and hod it for long term with the accumulations strategy  it is good to invest on lump sum period than targeting for price of bitcoin.

Before you think of making and taking profit in your bitcoin investment, you need to ask yourself some certain questions like how Long or how many years have you invested in bitcoin and also through out all this years, how consistently do you accumulate bitcoins and hold. Of a truth, bitcoin have the potential to generate profit but It doesn’t just work the way we think it is, it takes patience time and consistency. Those little consistent buys are really important. Starting bitcoin investment with a sole mindset of making and taking profits isn’t the right approach because even though it have the potential to generate profits, there’s also a potential of running loses as a result of bitcoin volatility.  you have to go into bitcoin investment with a long term goal of consistent accumulation of bitcoin and hold where your target is to accumulate a significant amount of bitcoin stash to your portfolio and hold for the long term and getting to your accumulation target or even surpassing it.

Also, investing with a lump sum is only good when an extra or additional money comes in, you can use it to lump sum, if not I think it’s best you accumulate with the DCA method as it is even through this DCA method you’ll not be bothered about the price of bitcoin before accumulating . The DCA method will enable you to accumulate bitcoin with just a discretionary income either weekly or monthly depending on how your income flows or when you’re able to figure out the discretionary income to use and accumulate bitcoin and hold for the long term goal.

[Cgrexp]

I agree with you that Bitcoin is a digital currency. Bitcoin can be sent anywhere in the world through an internet connection without a third party or bank. The supply of Bitcoin is limited. When its demand increases, its price also increases. Newbies need to know the issues. Along with this, the financial condition of the new investor should also be understood. If a person wants to invest in Bitcoin, he should invest the amount of money that he cannot afford to lose or should be able to tolerate. After that, he should invest little by little continuously every month. Through continuous investment, his experience will increase, and thus his confidence in himself will also increase. And when his experience and confidence are built, it will not be unknown to that person whether he can invest in large amounts.

The consequences of taking risks or making irrational decisions are always your own. Financial preparation and backup funds are important when it comes to Bitcoin investing. Many ordinary people start investing in Bitcoin when they already have some backup funds, such as two to four weeks' worth. But those who have no backup funds at all should first create a minimum financial security because investing in Bitcoin is not reasonable without discretionary income. If a person starts with a backup fund of two to four weeks, they can gradually increase both their Bitcoin stack and backup funds together. It may be a reasonable approach to initially keep half of their Bitcoin and half in the backup fund, but this needs to be adjusted according to everyone's situation. Therefore, before starting Bitcoin, it is important to acquire a financial foundation, backup funds, and common sense so that it is possible to continue investing in the long term.