Buy Buy Buy or Sell Sell Sell?

[Barikui1]

. Therefore, before investing, you first need a strong income source,

No i disapprove of this statement here bro, you must not have a strong income source before you invest and start your Bitcoin accumulation journey, what you just need is a discretionary income and the basic knowledge to start, because their are so many guys out there that has a source of income or an income source but still can't figure out their discretionary income, so discretionary income is the key funds needed to start, not by having income source, even though it's also important.
Additional, a Bitcoin investor needs to understand that the size of his stash is what's going to determine how profitable and successful he might be in the future, that is why constant accumulation is important, so as to build a good stash that can change his financial status forever.

[Pandorak]

  “Buy or sell” really depends on what the market structure is telling you. Blindly buying or selling is how people get rekt. I prefer to let the chart make the decision: if we’re printing higher highs and higher lows with strong volume, I’m more comfortable buying dips. If structure breaks, support fails, or momentum dries up, selling or taking profit isn’t a bad idea.

 No emotion, just reacting to what the market confirms. Strategy  is  greater than guessing !

From what i see, the way you make “buy or sell” decisions reflects more of a trader than an investor. Traders focus on price patterns, market structure, support and resistance, hoping to profit from short term price differences. That is the hallmark of a trader.

While investors do not depend on changes in market structure or anything else because their focus is on long-term accumulation ^{(buy, buy, buy, and buy)}, they continue to buy Bitcoin for years, so they do not care much about the current price and the strategies used are also different. Generally, an investor's strategy is Dollar Cost Averaging (DCA), and they also focus more on managing their finances so that they can continue to accumulate.

In essence, traders pursue short term opportunities, while investors build long term value. However, it is not uncommon for investors to be mistaken, they consider themselves investors, but in reality their actions are more similar to those of traders.

[Marvelockg]

In essence, traders pursue short term opportunities, while investors build long term value. However, it is not uncommon for investors to be mistaken, they consider themselves investors, but in reality their actions are more similar to those of traders.

An investor whose investment strategy looks like that of a trader is in the first place not an investor but most likely a trader that's just trying to leave his asset for the short term hoping for quick profit so he can sell off his holding once he makes that small profit. Anything that's associated with fast gratification of any sort as relating to your accumulated bitcoin is peculiar to a trading and real investors always try to distance themselves from it.

For a genuine investor, the strategy is to buy and buy and buy and never talk about selling as far as you're still in your accumilation stage. If you start to consider selling of your bitcoin or consider that during the DIP that it's not best that you continue accumilating, then you're indirectly endangering your investment. Short term gratification is not something that's peculiar to an investor so as much as in you is, it's best to distance yourself from any form of short term gains that will lead you to selling your asset even if you're in a season of short term profit.

[sotelorene]

. Therefore, before investing, you first need a strong income source,

No i disapprove of this statement here bro, you must not have a strong income source before you invest and start your Bitcoin accumulation journey, what you just need is a discretionary income and the basic knowledge to start, because their are so many guys out there that has a source of income or an income source but still can't figure out their discretionary income, so discretionary income is the key funds needed to start, not by having income source, even though it's also important.
Additional, a Bitcoin investor needs to understand that the size of his stash is what's going to determine how profitable and successful he might be in the future, that is why constant accumulation is important, so as to build a good stash that can change his financial status forever.

I totally agree with you, most times some people feel or think what they need is a steady or stable source of income and a huge amount of money but in reality and actual sense it doesn't work that way. What is needed to start Bitcoin investment is just our leftover funds that is the money that remains after all necessary needs have been taken care of and the leftover funds or money is also the same funds we figure out our emergency funds from

[Obulis]

Even if you might not be technically wrong, yet at the same time in an overall sense you are wrong EarnOnVictor, since when ever you try to give leeway to various shitcoins, you are leaving an opening for them to scam people through their affinity to bitcoin, so they tend to end up scamming people by trying to seem as if they are similar to bitcoin.... and play on the innocence of people to accept them as if they were similar to bitcoin.. which sucks innocent (even smart people) into being scammed.

Lol...you surprised me, you know. Do you mean I shouldn't say the truth just because people are being scammed in the name of cryptocurrency? Scamming is even a different context entirely from whether Bitcoin is a cryptocurrency (or not) that we are trying to establish here.

Besides, I don't know what happened to "look before you leap" and DYOR. Anyone venturing into cryptocurrency without knowing it will face the music, which is a different ballgame from Bitcoin being a cryptocurrency or not. By virtue, bro, I see no confusion here if I maintain that Bitcoin is a cryptocurrency, with reasons.

No doubt about Bitcoin being cryptocurrency of course technically,  the challenges i see in most context is that people don't precisely differentiate Bitcoin with other coins when making references and that can be confusing, this because in my observations whenever cryptocurrency is made mention what comes to peoples mind is scam because of the numerous scam projects even when the context is Bitcoin and while it is important to specifically stand Bitcoin out of the other numerous cryptocurrencies because Bitcoin is nothing of scam by virtue of development.

Am not seeing any bias to say that Bitcoin has already gained that trust of being specified when talked about due to the obvious skepticism that follows a general talk of cryptocurrency. Bitcoin all this years has proven itself and deserve that exclusion because scam projects can even  be on going right now in the crypto industry of which Bitcoin has never been part of and will definitely not be part of.

[fredericktaylor]

. Therefore, before investing, you first need a strong income source,

No i disapprove of this statement here bro, you must not have a strong income source before you invest and start your Bitcoin accumulation journey, what you just need is a discretionary income and the basic knowledge to start, because their are so many guys out there that has a source of income or an income source but still can't figure out their discretionary income, so discretionary income is the key funds needed to start, not by having income source, even though it's also important.
Additional, a Bitcoin investor needs to understand that the size of his stash is what's going to determine how profitable and successful he might be in the future, that is why constant accumulation is important, so as to build a good stash that can change his financial status forever.

I totally agree with you, most times some people feel or think what they need is a steady or stable source of income and a huge amount of money but in reality and actual sense it doesn't work that way. What is needed to start Bitcoin investment is just our leftover funds that is the money that remains after all necessary needs have been taken care of and the leftover funds or money is also the same funds we figure out our emergency funds from

It is very important to use discretionary money to start investing in Bitcoin. An investment can be managed in the long term by purchasing Bitcoin with the money left over after deducting all our necessary expenses. However, it is very important to create an emergency fund to manage long-term investments consistently. By keeping an emergency, long-term investments can be managed in an orderly manner, no matter what obstacles come in front. Buying as much Bitcoin as you can and holding on to it with a long-term plan can help us achieve our specific goals.

[Bigjoe33]

ejikeme24 waiting for the dip is not bad when you are still accumulating while waiting for the dip , for instance having a reserve funds for the dip , after setting aside a reserve funds continue with your accumulation so when there’s dip then you can make use of that funds set aside .

The mistakes many folks usually make is waiting for the dip and putting pause in their accumulation while doing so which will definitely slow down your accumulation process, so better to keep buying with your normal pace and keep the aggressive buying in a hold , so that you can have enough funds to buy the dip if later happens or if continue to dip .

Yea, we must keep our accumulation ongoing and consistent. Perhaps, the only issue here is the statement ''waiting for the Dip'', because using waiting for the Dip sounds more of not buying regularly, but just sitting and waiting for the Dip to come before you buy, and which is not accepted or is not a good investment pattern. It sounds better and more investment oriented when you say, ''one can continue buying Bitcoin regularly and whenever the Dip shows up, you can as well buy with your extra cash''. This sounds more like, you are ongoingly accumulating Bitcoin, not expecting it having any hope for the Dip to buy more, but when it shows up, you buy with your extra cash.

[arwin100]

No doubt about Bitcoin being cryptocurrency of course technically,  the challenges i see in most context is that people don't precisely differentiate Bitcoin with other coins when making references and that can be confusing, this because in my observations whenever cryptocurrency is made mention what comes to peoples mind is scam because of the numerous scam projects even when the context is Bitcoin and while it is important to specifically stand Bitcoin out of the other numerous cryptocurrencies because Bitcoin is nothing of scam by virtue of development.

Am not seeing any bias to say that Bitcoin has already gained that trust of being specified when talked about due to the obvious skepticism that follows a general talk of cryptocurrency. Bitcoin all this years has proven itself and deserve that exclusion because scam projects can even  be on going right now in the crypto industry of which Bitcoin has never been part of and will definitely not be part of.

Bitcoin earn that trust since for many years of its existence and countless challenges it face Bitcoin remain to be strong or dominant coin in history. So I don't really get the point of skeptical dude out there think about Bitcoin will die soon. Maybe they are looking only on its short term tracks that's why they get afraid of its short term bearish movement that's why they easily get panic and think about something bad on Bitcoin.

But if they have this thinking about looking forward for its long term growth for sure that they won't really think about those negative things spread by those doubters and will continue to support Bitcoin even if bearish market conditions will occur.

[Tmoonz]

‎Every thing about Bitcoin investments comes down to patience, how you handle your emotions and discipline. People who tends to be discipline especially during a short term  market downturn usually benefit the most, as they ignore any sort of short term moves or noise. Instead of reacting to every  drops or noise what they do  is to accumulate more Bitcoin  and focus on the long run like holding for like 9-10 years above which builds bigger gains.

You have given a lot of importance to patience and emotional control in investing in Bitcoin, I agree with you on this. However, if you do not have a proper plan, you will never be able to be patient when needed. Patience and discipline will work only then you will have a strong cashflow and sufficient back-up funds. Therefore, before investing, you first need a strong income source, back-up funds, discretionary income. If you can invest in the DCA method with a long-term mentality, maintain proper discipline with patience, then the chances of success increase after a long time .

The only valid description of how strong any source of income should be is the ability to figure out a discretionary income from your income source which is going to vary in size from one individual to the other, that is to say what is prioritize is having a discretionary income rather than saying a strong source of income which sounds too ambitious and can delay a lot of people not to buy Bitcoin because they want to have a strong source of income first, another important thing too is that backup funds can as well be built along side your investment without waiting to build them first before starting up your Bitcoin investment.

[Emjay24]

  “Buy or sell” really depends on what the market structure is telling you. Blindly buying or selling is how people get rekt. I prefer to let the chart make the decision: if we’re printing higher highs and higher lows with strong volume, I’m more comfortable buying dips. If structure breaks, support fails, or momentum dries up, selling or taking profit isn’t a bad idea.

 No emotion, just reacting to what the market confirms. Strategy  is  greater than guessing !

It is obvious that you are thinking like a trader and not a real investor. your regular buys should not depend on the market structure, but from an act of dedication and commitment to your accumulation journey. As long as you've discretionry income present, You buy regardless of market sentiments as long as you're going long-term in bitcoin and that is not buying blindly but being consistent with your buys.

Selling or taking profit is a bad idea when you have not reached your accumulation target or exhausted your holding period. Talking about strategy, in buying bitcoin, it's not best to embrace only buying the dip as a starter. you should show seriousness by following up with regular buys with either DCA, lump summing(if you have large discretionary income) or you can still front load your investment. Greater profitability in bitcoin is obtainable when you target a bigger portfolio and long-term holding period and not going for short-term gains that may result in selling much BTC too soon and you probably regret it later if bitcoin price goes very high.

[Grace333]

Waiting to buy the dip is not actually a bad idea but what makes it look bad is the time wasted

What are you even saying?
You are saying shit and in the same time giving a reason why what you are saying is shit. Bro you don't have to be confusing yourself, it's actually a bad idea waiting for the dip because you are going to miss a whole lot of buying opportunities while waiting for a dip that may never come. You might decide to buy the dip if you are already buying consistently before the dip came, but waiting for it before making a purchase is actually bad because you are going to miss opportunities that would have been used to buy more and add to your stash of Bitcoin, so my advice is that you should just be buying weekly or monthly consistently, once the dip comes, you may  decide to buy aggressively then if you have the reserve funds to carry it out, but waiting before buying is what I greatly discouraged.

ejikeme24 waiting for the dip is not bad when you are still accumulating while waiting for the dip , for instance having a reserve funds for the dip , after setting aside a reserve funds continue with your accumulation so when there’s dip then you can make use of that funds set aside .

The mistakes many folks usually make is waiting for the dip and putting pause in their accumulation while doing so which will definitely slow down your accumulation process, so better to keep buying with your normal pace and keep the aggressive buying in a hold , so that you can have enough funds to buy the dip if later happens or if continue to dip .

Exactly, because I don’t know why a lot of people think waiting for the dip is by just folding their arms and doing nothing. Knowing well that Bitcoin does not follow anybody timetable. If you pause your normal buying completely, you will just cheat yourself slowly without even knowing.

What I have learned is that the sweet spot is exactly what you said, keep your regular accumulation running like normal, no stress, no pressure. Then quietly build that little reserve that you do not touch until a real dip shows itself. With that you’re growing your stack consistently, but you still have power to strike when the market gives chance.

People fail because they want to catch the perfect dip, but perfect dip does not exist. If you’re buying small small and still keeping a dip fund, you are literally positioned for both sides.

[PhilosopherKing]

  “Buy or sell” really depends on what the market structure is telling you. Blindly buying or selling is how people get rekt. I prefer to let the chart make the decision: if we’re printing higher highs and higher lows with strong volume, I’m more comfortable buying dips. If structure breaks, support fails, or momentum dries up, selling or taking profit isn’t a bad idea.

 No emotion, just reacting to what the market confirms. Strategy  is  greater than guessing !

What the fuck is going on? Why do you think that bitcoin is something you should be trading? All the things you said are those kinds of stuffs that can totally wreck a newbie. And why should you even be bothered about selling and taking profit when you have not reached over accumulation? You should have no business trading bitcoin or looking for immediate profits, so therefore trash out that your mentality and focus on long term accumulation where you will be buying and holding for a cycle and more, without you fucking around with all those trading shits.

[ChocolateBitcoinK]

. Therefore, before investing, you first need a strong income source,

No i disapprove of this statement here bro, you must not have a strong income source before you invest and start your Bitcoin accumulation journey, what you just need is a discretionary income and the basic knowledge to start, because their are so many guys out there that has a source of income or an income source but still can't figure out their discretionary income, so discretionary income is the key funds needed to start, not by having income source, even though it's also important.
Additional, a Bitcoin investor needs to understand that the size of his stash is what's going to determine how profitable and successful he might be in the future, that is why constant accumulation is important, so as to build a good stash that can change his financial status forever.

I totally agree with you, most times some people feel or think what they need is a steady or stable source of income and a huge amount of money but in reality and actual sense it doesn't work that way. What is needed to start Bitcoin investment is just our leftover funds that is the money that remains after all necessary needs have been taken care of and the leftover funds or money is also the same funds we figure out our emergency funds from

It is very important to use discretionary money to start investing in Bitcoin. An investment can be managed in the long term by purchasing Bitcoin with the money left over after deducting all our necessary expenses. However, it is very important to create an emergency fund to manage long-term investments consistently. By keeping an emergency, long-term investments can be managed in an orderly manner, no matter what obstacles come in front. Buying as much Bitcoin as you can and holding on to it with a long-term plan can help us achieve our specific goals.

Investing using discretionary income does not put unnecessary financial pressure on you. You need to invest for the long term, taking care not to create any financial pressure, then it becomes easier to sustain this investment in the long term. If there is financial pressure, an investment cannot be maintained for the long term, because they will not give you short-term results, that is why you should invest with proper financial management, you must use prudent income, and you must persevere until the long-term goal that you have set is achieved.

[Graph001]

  “Buy or sell” really depends on what the market structure is telling you. Blindly buying or selling is how people get rekt. I prefer to let the chart make the decision: if we’re printing higher highs and higher lows with strong volume, I’m more comfortable buying dips. If structure breaks, support fails, or momentum dries up, selling or taking profit isn’t a bad idea.

 No emotion, just reacting to what the market confirms. Strategy  is  greater than guessing !

What you are saying can be even more confusing for newbies. Those who are new to Bitcoin should never trade Bitcoin. If you are new to Bitcoin, you should never even think about trading. Trading is risky for most people, so if someone wants to trade Bitcoin, it would not be wrong to say that they are trying to gamble with Bitcoin. Because you can never accurately predict where the market will go. Even if you can do it once or twice, it does not mean that you will make a profit trading here. You should stop playing with charts that you do not understand. Do not pretend that you can beat the market. By advising people to trade Bitcoin, you will push them further towards destruction. The point is that you are telling them to run before they can stand.

Bitcoin is not a quick money toy for anyone. It is a long-term and safe asset. Those who control themselves and can hold for the long term can profit from it.  Why in this case, you will not have any mental pressure whether the price has gone up or down. This is not a means of making short-term profits for inexperienced and impatient people. If you want to invest in Bitcoin, your priority should be long-term savings and patience, only then you will be able to profit from it. If you want to trade in Bitcoin, you will lose everything instead of making your profit.

[Silikiem]

. Therefore, before investing, you first need a strong income source,

No i disapprove of this statement here bro, you must not have a strong income source before you invest and start your Bitcoin accumulation journey, what you just need is a discretionary income and the basic knowledge to start, because their are so many guys out there that has a source of income or an income source but still can't figure out their discretionary income, so discretionary income is the key funds needed to start, not by having income source, even though it's also important.
Additional, a Bitcoin investor needs to understand that the size of his stash is what's going to determine how profitable and successful he might be in the future, that is why constant accumulation is important, so as to build a good stash that can change his financial status forever.

I totally agree with you, most times some people feel or think what they need is a steady or stable source of income and a huge amount of money but in reality and actual sense it doesn't work that way. What is needed to start Bitcoin investment is just our leftover funds that is the money that remains after all necessary needs have been taken care of and the leftover funds or money is also the same funds we figure out our emergency funds from

The major problem here is that many still think that as you’re investing in bitcoin  you’re going to buy all the bitcoin stash at once and that’s why they’re saying that one must have a huge amount before you can invest in bitcoin.
One mustn’t have a huge amount of funds before one can start  accumulating and investing in bitcoin, with just a discretionary income you can accumulate and invest in bitcoin and hold for long term purpose. The discretionary income is just the most important thing to have for your bitcoin investment, with a discretionary income we can be buying bitcoin bits by bits and gradually build up our portfolio.

[Rabata]

  “Buy or sell” really depends on what the market structure is telling you. Blindly buying or selling is how people get rekt. I prefer to let the chart make the decision: if we’re printing higher highs and higher lows with strong volume, I’m more comfortable buying dips. If structure breaks, support fails, or momentum dries up, selling or taking profit isn’t a bad idea.

 No emotion, just reacting to what the market confirms. Strategy  is  greater than guessing !

What you are saying can be even more confusing for newbies. Those who are new to Bitcoin should never trade Bitcoin. If you are new to Bitcoin, you should never even think about trading. Trading is risky for most people, so if someone wants to trade Bitcoin, it would not be wrong to say that they are trying to gamble with Bitcoin. Because you can never accurately predict where the market will go. Even if you can do it once or twice, it does not mean that you will make a profit trading here. You should stop playing with charts that you do not understand. Do not pretend that you can beat the market. By advising people to trade Bitcoin, you will push them further towards destruction. The point is that you are telling them to run before they can stand.

New investors who join trading mainly enter trading by watching others or hoping to make a profit in a short time. But due to not understanding the market, graphs, and risks, most of them make wrong decisions and suffer financial losses. To be successful, experience, analytical ability, skills, and risk management are required, but even then, no matter how well one analyzes, it only serves as a possibility. In the long run, the real power of Bitcoin and the tendency for its price to increase with time increases. And especially for new investors, it is more reasonable to hold it in the long term than to make a one-time investment. It will be beneficial for new investors to buy a certain amount of Bitcoin every week, especially when they are setting up a partnership for the first time. It is better to have some basic knowledge of Bitcoin at the beginning of investing and start with small amounts until you feel comfortable understanding the various aspects of Bitcoin.

[Showlove01]

. Therefore, before investing, you first need a strong income source,

No i disapprove of this statement here bro, you must not have a strong income source before you invest and start your Bitcoin accumulation journey, what you just need is a discretionary income and the basic knowledge to start, because their are so many guys out there that has a source of income or an income source but still can't figure out their discretionary income, so discretionary income is the key funds needed to start, not by having income source, even though it's also important.
Additional, a Bitcoin investor needs to understand that the size of his stash is what's going to determine how profitable and successful he might be in the future, that is why constant accumulation is important, so as to build a good stash that can change his financial status forever.

I totally agree with you, most times some people feel or think what they need is a steady or stable source of income and a huge amount of money but in reality and actual sense it doesn't work that way. What is needed to start Bitcoin investment is just our leftover funds that is the money that remains after all necessary needs have been taken care of and the leftover funds or money is also the same funds we figure out our emergency funds from

It is very important to use discretionary money to start investing in Bitcoin. An investment can be managed in the long term by purchasing Bitcoin with the money left over after deducting all our necessary expenses. However, it is very important to create an emergency fund to manage long-term investments consistently. By keeping an emergency, long-term investments can be managed in an orderly manner, no matter what obstacles come in front. Buying as much Bitcoin as you can and holding on to it with a long-term plan can help us achieve our specific goals.

Investing using discretionary income does not put unnecessary financial pressure on you. You need to invest for the long term, taking care not to create any financial pressure, then it becomes easier to sustain this investment in the long term. If there is financial pressure, an investment cannot be maintained for the long term, because they will not give you short-term results, that is why you should invest with proper financial management, you must use prudent income, and you must persevere until the long-term goal that you have set is achieved.

You are right, the only time someone will experience financial pressure is if they use what they can not afford to lose that is money outside their discretionary income, definitely they will experience financial pressure and that is the worst thing an investor should do or think of doing because they are indirectly jeopardizing their Investment because that will not longer be investment but rather it will be trading or gambling because it is obvious they are doing it to cash out their money quick if there's little increase in the market.

[yixichloro2xx]

. Therefore, before investing, you first need a strong income source,

No i disapprove of this statement here bro, you must not have a strong income source before you invest and start your Bitcoin accumulation journey, what you just need is a discretionary income and the basic knowledge to start, because their are so many guys out there that has a source of income or an income source but still can't figure out their discretionary income, so discretionary income is the key funds needed to start, not by having income source, even though it's also important.
Additional, a Bitcoin investor needs to understand that the size of his stash is what's going to determine how profitable and successful he might be in the future, that is why constant accumulation is important, so as to build a good stash that can change his financial status forever.

I totally agree with you, most times some people feel or think what they need is a steady or stable source of income and a huge amount of money but in reality and actual sense it doesn't work that way. What is needed to start Bitcoin investment is just our leftover funds that is the money that remains after all necessary needs have been taken care of and the leftover funds or money is also the same funds we figure out our emergency funds from

It is very important to use discretionary money to start investing in Bitcoin. An investment can be managed in the long term by purchasing Bitcoin with the money left over after deducting all our necessary expenses. However, it is very important to create an emergency fund to manage long-term investments consistently. By keeping an emergency, long-term investments can be managed in an orderly manner, no matter what obstacles come in front. Buying as much Bitcoin as you can and holding on to it with a long-term plan can help us achieve our specific goals.

As an investor, if you want your long term planning to succeed effectively, you must be able to separate any type of financial expenses that will come in the way of your bitcoin accumulation and not making you sell off at the way just to solve the problem. When someone has the ability to secure his savings and build his financial stability, investing in Bitcoin won't be a problem. Importance of that financial stability is that it allows the investor to avoid emotional mistakes, exercise patience, and allow time to do it's work.

[I_Anime]

  “Buy or sell” really depends on what the market structure is telling you. Blindly buying or selling is how people get rekt. I prefer to let the chart make the decision: if we’re printing higher highs and higher lows with strong volume, I’m more comfortable buying dips. If structure breaks, support fails, or momentum dries up, selling or taking profit isn’t a bad idea.

 No emotion, just reacting to what the market confirms. Strategy  is  greater than guessing !

What the fuck is going on? Why do you think that bitcoin is something you should be trading? All the things you said are those kinds of stuffs that can totally wreck a newbie. And why should you even be bothered about selling and taking profit when you have not reached over accumulation? You should have no business trading bitcoin or looking for immediate profits, so therefore trash out that your mentality and focus on long term accumulation where you will be buying and holding for a cycle and more, without you fucking around with all those trading shits.

Yes trading can get one rekt especially you don’t have the skill or know anything about it . The best time to think of profit when you have had enough bitcoin or hit your accumulation goal . But doffiaicial made sound like more of trading , using resistance and support to think of profits . First you build though it make take couple of years , after hitting your goal then you can think of profits. But investing is a personal thing some folk will still prefer doing things their way,

[Curious T]

You have given a lot of importance to patience and emotional control in investing in Bitcoin, I agree with you on this. However, if you do not have a proper plan, you will never be able to be patient when needed. Patience and discipline will work only then you will have a strong cashflow and sufficient back-up funds. Therefore, before investing, you first need a strong income source, back-up funds, discretionary income.

If it were like this, then a lot of us won't invest in Bitcoin because the reality is, not many people have a strong cash flow or sufficient backup plan. I understand that without this, you will always be tempted to go back to your investments, but it's not a must that you have a strong cash flow before you invest. Just be disciplined enough to keep something aside for the purchase of Bitcoin. of course, in life we must always strive to earn a better income, but with discipline, you can try to spend something on Bitcoin.

Also, there is nothing wrong with using your accumulated bitcoin to save your life. If you hold bitcoin and you find yourself or someone you love or care about in a life-or-death situation, there is nothing wrong with using that investment to save a life or something similar. The goal is long-term holding, but you cant look at the fact that if you hold it, an emergency will come and take it away because you don't have a strong cash flow or backup plan. It's not a cult. It's just money, you can continue to accumulate again. It will only take you backwards or make you start from ground zero, but with discipline and consistency, you might make it back.