Road to 100k?

[Frankolala]

Low income earners who do barely have enough to feed exist but in such situation, investing in Bitcoin is the last thing they should worry about because they need money to invest in Bitcoin. If they use the money they are supposed to use for feeding and invest in Bitcoin, it is a matter of days or week before they sell the Bitcoin because food is a basic necessity unless they have decided that they will die of hunger instead of selling their Bitcoin so that when they die someone else will sell the Bitcoin or it becomes lost coins.

To invest in Bitcoin and be able to HODL it, the investor must first of all set up the money for their basic needs which cover food, shelter, medical and others. After then the investor have to protect the investment by setting up emergency funds that will take care of things that fall outside the basic needs which can come up unplanned. It is after this two set of funds are in place that there will be some level of confidence that the investor can invest in Bitcoin and HODL without the pressure to sell.

Your right. Some persons shouldn't worry about starting an investment until they are capable of sustaining it. There are thins that are criteria to secure an investment ongoing on. One is to have enough to take care of monthly needs, if we have a family then the family first before thinking of investing. Expenses as rent, tuition fees, and emergencies fund should be met first before proceeding with the investment.When i hear people using money that was meant for this important life needs to invest in Bitcoin i feel sorry because it doesn't take them long they sell off the investment in the short term with little profit. As an investor i think it is good we ask our self what is the vision we have for our investment, if we are in for short or long term because a successful Bitcoin investment is determined by the level of discipline, consistency and sustainability of effort an investor put into it in the long term.

Am emergency funds is not necessarily important to have before venturing into your bitcoin investment because as long as you have a discretionary income, you can start buying bitcoin right away with part of it and use the other part to build your emergency funds along side with your bitcoin investment because you are investing in a long-term.

Any investor that does not have a discretionary income does not need to invest in bitcoin because if he does, it means that he is gambling and he will definitely run at loss because that is always the outcome of gambling. If an income is needed to survive in life as human then a discretionary income is need for your bitcoin investment to survive in the long run.

[Cryptoprincess101]

Low income earners who do barely have enough to feed exist but in such situation, investing in Bitcoin is the last thing they should worry about because they need money to invest in Bitcoin. If they use the money they are supposed to use for feeding and invest in Bitcoin, it is a matter of days or week before they sell the Bitcoin because food is a basic necessity unless they have decided that they will die of hunger instead of selling their Bitcoin so that when they die someone else will sell the Bitcoin or it becomes lost coins.

To invest in Bitcoin and be able to HODL it, the investor must first of all set up the money for their basic needs which cover food, shelter, medical and others. After then the investor have to protect the investment by setting up emergency funds that will take care of things that fall outside the basic needs which can come up unplanned. It is after this two set of funds are in place that there will be some level of confidence that the investor can invest in Bitcoin and HODL without the pressure to sell.

Your right. Some persons shouldn't worry about starting an investment until they are capable of sustaining it. There are thins that are criteria to secure an investment ongoing on. One is to have enough to take care of monthly needs, if we have a family then the family first before thinking of investing. Expenses as rent, tuition fees, and emergencies fund should be met first before proceeding with the investment.When i hear people using money that was meant for this important life needs to invest in Bitcoin i feel sorry because it doesn't take them long they sell off the investment in the short term with little profit. As an investor i think it is good we ask our self what is the vision we have for our investment, if we are in for short or long term because a successful Bitcoin investment is determined by the level of discipline, consistency and sustainability of effort an investor put into it in the long term.

Am emergency funds is not necessarily important to have before venturing into your bitcoin investment because as long as you have a discretionary income, you can start buying bitcoin right away with part of it and use the other part to build your emergency funds along side with your bitcoin investment because you are investing in a long-term.

Any investor that does not have a discretionary income does not need to invest in bitcoin because if he does, it means that he is gambling and he will definitely run at loss because that is always the outcome of gambling. If an income is needed to survive in life as human then a discretionary income is need for your bitcoin investment to survive in the long run.

Yes you are actually correct about starting an investment in Bitcoin with a discretionary amount but even though the emergency funds may not be necessary yet for a beginner but it is important because that is what will basically take care of some urgent needs of an investor so if he doesn't set out an amount for emergency needs that means he is most likely to touch his holdings which is not advisable so in other not to be stucked in such a situation, there will be need for an emergency funds so that there will never be a need to touch your investments while still making accumulations.

I see you have layed a lot of emphasis on the need to have a discretionary income before venturing into Bitcoin investments, that is just it since it is an amount that is available to be used for anything without affecting your other needs of life, like it is strictly at the discretion of the investor so there is absolutely need for it.

[maydna]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

[Taskford]

Low income earners who do barely have enough to feed exist but in such situation, investing in Bitcoin is the last thing they should worry about because they need money to invest in Bitcoin. If they use the money they are supposed to use for feeding and invest in Bitcoin, it is a matter of days or week before they sell the Bitcoin because food is a basic necessity unless they have decided that they will die of hunger instead of selling their Bitcoin so that when they die someone else will sell the Bitcoin or it becomes lost coins.

To invest in Bitcoin and be able to HODL it, the investor must first of all set up the money for their basic needs which cover food, shelter, medical and others. After then the investor have to protect the investment by setting up emergency funds that will take care of things that fall outside the basic needs which can come up unplanned. It is after this two set of funds are in place that there will be some level of confidence that the investor can invest in Bitcoin and HODL without the pressure to sell.

Your right. Some persons shouldn't worry about starting an investment until they are capable of sustaining it. There are thins that are criteria to secure an investment ongoing on. One is to have enough to take care of monthly needs, if we have a family then the family first before thinking of investing. Expenses as rent, tuition fees, and emergencies fund should be met first before proceeding with the investment.When i hear people using money that was meant for this important life needs to invest in Bitcoin i feel sorry because it doesn't take them long they sell off the investment in the short term with little profit. As an investor i think it is good we ask our self what is the vision we have for our investment, if we are in for short or long term because a successful Bitcoin investment is determined by the level of discipline, consistency and sustainability of effort an investor put into it in the long term.

Am emergency funds is not necessarily important to have before venturing into your bitcoin investment because as long as you have a discretionary income, you can start buying bitcoin right away with part of it and use the other part to build your emergency funds along side with your bitcoin investment because you are investing in a long-term.

Any investor that does not have a discretionary income does not need to invest in bitcoin because if he does, it means that he is gambling and he will definitely run at loss because that is always the outcome of gambling. If an income is needed to survive in life as human then a discretionary income is need for your bitcoin investment to survive in the long run.

Its not important thing to consider if you are starting up, but if you have other good source income to separate this then its fine as long as it can cope up well your finances also your investment made with bitcoin. But you could just separate some funds when you established your bitcoin investment since everything will come up especially everything became good with our investment.

But if you have less funds to spend then maybe prioritize first your basic needs. Then after you count your budget then there's extra cash left then you can invest that in bitcoin since this is ideal option to do, rather than just wasting it in other unimportant things or just let it sleep on banks or where you save it and didn't get any decent interest.

[I_Anime]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

That's true , they are different set of people they are some who have already gotten enough stash and fully ready for the main surges in market price, while are some that are still in their accumulating phase. So in time like this those that haven't gotten enough bitcoin stash for themselves ( because this time around they are alot of folks that are new to bitcoin ) , and same time seems to be interested in it ( invest in it ) . So those set of people are happy in time like this so that they will be able to accumulate more bitcoin stash in their portfolio.

So this is actually an opportunity for one to accumulate more bitcoin stash , though they are still some set of people who are literally selling their coins due to the half-size knowledge they possess. Like for me I'm ready to hold and continue to hold as long as I can , same time keep accummulation going till I hit my goal   

[Jewan420]

Any investor that does not have a discretionary income does not need to invest in bitcoin because if he does, it means that he is gambling and he will definitely run at loss because that is always the outcome of gambling.

I agree with you. But I cannot agree with the comment that one should not invest if there is no discretionary income. Nowadays there are very few people who cannot save $25-$35 after meeting their monthly needs. Out of necessity people work hard but earn extra money. Nowadays people thinking about their future keep their fiat in a savings account in banks or various NGOs. I think investing in bitcoins might be a better choice than putting money in this savings account. Because Bitcoin savings offer higher returns than bank savings, Bitcoin savings tend to last longer than bank savings. I wouldn't say to invest the entire savings in Bitcoin. You can easily start investing in Bitcoin by investing $25-$35 i.e. $10 out of $30 in Bitcoin, $10 in bank savings and $10 in an emergency fund. $10 is a small amount but very beneficial for low income people. If you have less than $10 to invest, you can start investing by saving $20 every 2 months. If one can successfully extend his investment for at least 4 years then after 4 years he can save 12×4×10=$480, calculating the profit from this due to increase in value of Bitcoin he will easily get back $700-$800. Where he can connect some money and find a small source of income.

[BITCOIN4X]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

The bitcoin price correction that has occurred so far is clearly caused by high selling pressure. I really felt that while monitoring market activity for a few minutes, of course because there was probably a lot of bitcoin coming into the market from people looking to take advantage. I agree with you, there is no need to panic if you believe in the potential for a better future. Price volatility is a normal part of the crypto market, so a recovery can still be expected.

These guys aren't going to sell forever anyway, even if there were previously confiscated bitcoins for sale. Recently I heard mtgox did it too, so of course there was a lot of bitcoin being sold which resulted in quite a deep price correction. I'm optimistic about price recovery this August, but it's still possible this wave of panic continues if it's compounded by other bad news. Stay calm and stick to the main plan.

[JayJuanGee]

Any investor that does not have a discretionary income does not need to invest in bitcoin because if he does, it means that he is gambling and he will definitely run at loss because that is always the outcome of gambling.

I agree with you. But I cannot agree with the comment that one should not invest if there is no discretionary income. Nowadays there are very few people who cannot save $25-$35 after meeting their monthly needs. Out of necessity people work hard but earn extra money. Nowadays people thinking about their future keep their fiat in a savings account in banks or various NGOs. I think investing in bitcoins might be a better choice than putting money in this savings account. Because Bitcoin savings offer higher returns than bank savings, Bitcoin savings tend to last longer than bank savings. I wouldn't say to invest the entire savings in Bitcoin. You can easily start investing in Bitcoin by investing $25-$35 i.e. $10 out of $30 in Bitcoin, $10 in bank savings and $10 in an emergency fund. $10 is a small amount but very beneficial for low income people. If you have less than $10 to invest, you can start investing by saving $20 every 2 months. If one can successfully extend his investment for at least 4 years then after 4 years he can save 12×4×10=$480, calculating the profit from this due to increase in value of Bitcoin he will easily get back $700-$800. Where he can connect some money and find a small source of income.

Your various formulas sound like short term trades, rather than investing, esepcialloy to the extent that you don't seem to be describing holding for more than 4 years.

on the other hand, if you are talking about holding those amounts and continuing to accumulate more than 4 years, then you are referring to using discretionary income (money that you do not need because your expenses are already  covered for 4 years or more. 

Don't get me wrong I would not be recommending anyone with those kinds of relatively low amounts to be investing into bitcoin for ONLY 4 years, yet there are people who are older or maybe have health or life circumstances that might not allow them to invest into bitcoin for much longer than 4 years, so there could be some folks who are barely meeting the 4-year minimum threshold in order to consider their entrance into bitcoin as an investment.

Another thing is that it is not guaranteed that whatever you put into bitcoin will be in profits, even in 4 years, and you (Jewan420) seem to be describing a kind assured profits, even after 1 year, so you surely sound like a gambler or a trader rather than an investor and your expectations of profits seem a bit too strong and/or unrealistic.  In other words it is possible that you BTC investment goes lower or even goes to zero whether we are talking short term, or medium to long term or even 4-10 years or longer or whatever timeline, so that should also be considered with any money that is put into bitcoin  - and yeah, sure people can do whatever they like, even seemingly erroneously presume that their investment (or trade or gambling play) into bitcoin is going to be in profit in whatever timeline that they are projecting that they are going to need (or want) the money.. and surely another sign that you are not using discretionary money to invest into bitcoin is that if you believe that you need the money at some point in the future, since it seems more healthy to consider  that you might never get the money back, even though surely almost everyone invests into any investment because they are considering the odds for UP to be greater than the odds for DOWN, and so even if profits are not guaranteed, they are considering their placement of value into bitcoin is a good place to put their value as compared with any other places that they might choose to put their value.

[GeorgeJohn]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

The is that people doesn't understand that increment of price of bitcoin doesn't take effect just like that but I know that what skyrocket the price of bitcoin is when the demand is higher the supply and the price of bitcoin  will go up.

People who is lamenting of the price of bitcoin will get to one hundred thousand [100k] so I know that the price of bitcoin is constant or stable, so base on that note we don't need to think otherwise towards bitcoin price going up and down.

Before now we should have known that the market determine the price of bitcoin  and sometimes bitcoin price can fall unexpectedly and can also rise unexpectedly due to the market rotation or determinate, so we don't need to bother for the prediction of Bitcoin, because sometimes the prediction can fail drastically.

[Hewlet]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

The is that people doesn't understand that increment of price of bitcoin doesn't take effect just like that but I know that what skyrocket the price of bitcoin is when the demand is higher the supply and the price of bitcoin  will go up.

demand plays a part in Bitcoins price increase but it's not necessarily that it's when demand exceed supply that Bitcoin price skyrocket since the supply of Bitcoin is actually fixed. Just like in every other sector, the higher the demand for Bitcoin leads to the increase in the price of Bitcoin which is more like the higher the numbers of buyers and HODLers, it goes on to affect Bitcoin price positively while the more people sell thier Bitcoin, it affect the market negatively. It's just a simple economic principles that works hand in hand with news and other market conditions to determine the price movement of Bitcoin.

People who is lamenting of the price of bitcoin will get to one hundred thousand [100k] so I know that the price of bitcoin is constant or stable, so base on that note we don't need to think otherwise towards bitcoin price going up and down.

seems you're mistaking The amount of Bitcoin in circulation and the price of Bitcoin as the same thing. What's fixed is the amount of Bitcoin in circulation and not Bitcoin price. Bitcoin being volatile in price with Bitcoin having a fixed amount in circulation doesn't mean the same thing. For the fixed amount of Bitcoin in circulation, it means that the totally amount of Bitcoin that can be bought or mined by everybody in the Bitcoin ecosystem is just fixed and can't be exceeded while if you're talking about the price of Bitcoin which is volatile, you're considering that with respect to demand and some other factors that plays a role in Bitcoin price movement, Bitcoin is going upward which is what's evident to all and that it has also witness some level of correction and will still experience it in times to come. It's just the nature of the fact that Bitcoin is volatile.

Before now we should have known that the market determine the price of bitcoin  and sometimes bitcoin price can fall unexpectedly and can also rise unexpectedly due to the market rotation or determinate, so we don't need to bother for the prediction of Bitcoin, because sometimes the prediction can fail drastically.

what makes up the market is people's action and decisions and these are all subject to speculation. The market don't just function independent of what people can predict and that's why people makes speculation with a sense of assuredness in most cases. Before Bitcoin fails, I feel it's not mainly an unexplainable event but every upward or downward movement of the price of Bitcoin can easily be traced to some real variables that are responsible for it. The main reason why it shouldn't be of serious concern to buyers about Bitcoin price movement is that it favours you more when you're better prepared during the time Bitcoin price is low and you can buy more Bitcoin at that price rather than waiting for the price to shoot up when you've not bought enough Bitcoin.

[Frankolala]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

The is that people doesn't understand that increment of price of bitcoin doesn't take effect just like that but I know that what skyrocket the price of bitcoin is when the demand is higher the supply and the price of bitcoin  will go up.

demand plays a part in Bitcoins price increase but it's not necessarily that it's when demand exceed supply that Bitcoin price skyrocket since the supply of Bitcoin is actually fixed. Just like in every other sector, the higher the demand for Bitcoin leads to the increase in the price of Bitcoin which is more like the higher the numbers of buyers and HODLers, it goes on to affect Bitcoin price positively while the more people sell thier Bitcoin, it affect the market negatively. It's just a simple economic principles that works hand in hand with news and other market conditions to determine the price movement of Bitcoin.

People who is lamenting of the price of bitcoin will get to one hundred thousand [100k] so I know that the price of bitcoin is constant or stable, so base on that note we don't need to think otherwise towards bitcoin price going up and down.

seems you're mistaking The amount of Bitcoin in circulation and the price of Bitcoin as the same thing. What's fixed is the amount of Bitcoin in circulation and not Bitcoin price. Bitcoin being volatile in price with Bitcoin having a fixed amount in circulation doesn't mean the same thing. For the fixed amount of Bitcoin in circulation, it means that the totally amount of Bitcoin that can be bought or mined by everybody in the Bitcoin ecosystem is just fixed and can't be exceeded while if you're talking about the price of Bitcoin which is volatile, you're considering that with respect to demand and some other factors that plays a role in Bitcoin price movement, Bitcoin is going upward which is what's evident to all and that it has also witness some level of correction and will still experience it in times to come. It's just the nature of the fact that Bitcoin is volatile.

From my understanding, I don't think that the amount of bitcoin is circulation is fixed because some people have lost their private keys and don't have access to their bitcoin and that makes their bitcoin to be locked in the blockchain. Also some people are hodli their bitcoin in their private wallets for a very long time now which reduces the amount of bitcoin in circulation. At every 10 minutes or before a new block is mined and it comes with some bitcoins and incentives.

When most people are selling their bitcoin, it makes the prices of bitcoin to dip but when many people are buying and we are having new adopters, it will increase the price of bitcoin and that is why the halving event helps to trigger a bull run after some months, because the number of bitcoin that is given to miners as their mining reward is slashed into two. However, whatever price that bitcoin offers us is the best price for us to accumulate bitcoin especially new investors and low coiner.

Long-term investment and DCA accumulation strategy does not care about the price of bitcoin but only cares about constant buying weekly or monthly to take advantage of the market and build up your bitcoin stash at ease for the duration of time you will use to reach your bitcoin target.

 What causes the market to dip or pump shouldn't be our concern but our concern should be do we have enough bitcoin in our portfolio and if NO..just keep on buying continuously with DCA.

[wmaurik]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

Before the Bitcoin price goes up again in the coming weeks, it is better for everyone to buy again at the current price because the Bitcoin price volatility never stays for long at a certain level so I agree more with what you said where everyone can use the current downturn to buy again as much as they can to increase the amount of Bitcoin ownership that we hold now. Because in this year the decline always looks temporary and the increase in price always looks more real as has happened in the last two months in Bitcoin so I am also more confident that in this month Bitcoin can still increase again and can even pass the $70K level.

[Princess Leah]

~

One thing I learnt when I earlier joined this community is the ability to take corrections when you're wrong, so instead of arguing your points, I think I've taken note of some good point of yours concerning this discussion, and I've pondered on it to see that I might be wrong in some choice of words I used in my statement, however it's good you brought them to my notice so I'll take corrections and learn more.

 I agree that one mustn't take risky decisions with the hope of tampering with back up funds that should've been used to fix up a real emergency situation and  the fact that I fail to differentiate between reserve funds and emergency funds shows that I didn't quit understand his opinion until you made it clear.

[skarais]

~~~

Before the Bitcoin price goes up again in the coming weeks, it is better for everyone to buy again at the current price because the Bitcoin price volatility never stays for long at a certain level so I agree more with what you said where everyone can use the current downturn to buy again as much as they can to increase the amount of Bitcoin ownership that we hold now. Because in this year the decline always looks temporary and the increase in price always looks more real as has happened in the last two months in Bitcoin so I am also more confident that in this month Bitcoin can still increase again and can even pass the $70K level.

Yes, that is wise advice on what bitcoin holders should do during a market correction.
The price of bitcoin can move in two directions where at one time the price can fall for several reasons and rise for several reasons. It is best to stay calm and not panic, if you are truly at this level then it is very possible for you to avoid mistakes.

I always say to accumulate whenever you have a budget, whatever it is and how you approach it. If you have big plans for the future, then hold bitcoin longer and ignore the intention to sell when the price does not match your expectations.

[JayJuanGee]

~

I agree that one mustn't take risky decisions with the hope of tampering with back up funds that should've been used to fix up a real emergency situation and  the fact that I fail to differentiate between reserve funds and emergency funds shows that I didn't quit understand his opinion until you made it clear.

Sure.  Sometimes how we say something will be a mistake, and other times how we say something might show that our understanding of the concepts is not quite correct.

There are some forum members that have the right ideas but they use the wrong words (or they make their points in ambiguous ways that could mislead other members).

In the end, you will likely have a more solid cash management system if you are able to conceptualize the differences between the different kinds of back up funds that you have whether they are:

emergency funds - that you might try not to touch outside of an actual emergency

reserve funds - that you have more flexibility in assigning them purposes and even using them and replacing them or redesignating them

float - that might not be purposefully kept since throughout the month or between pay periods and expenses, you might have extra amounts of cash that just have not been spent yet or even that sometimes you are not sure about the amounts of your income or your expenses, so your float will tend to help to give you some cushion within the pay period and you may well not be able to spend that float money, but if you tap into it, you might find yourself unable to pay some of your expenses due to your ill-management of your float.

[Futurexxx]

~

One thing I learnt when I earlier joined this community is the ability to take corrections when you're wrong, so instead of arguing your points, I think I've taken note of some good point of yours concerning this discussion, and I've pondered on it to see that I might be wrong in some choice of words I used in my statement, however it's good you brought them to my notice so I'll take corrections and learn more.

 I agree that one mustn't take risky decisions with the hope of tampering with back up funds that should've been used to fix up a real emergency situation and  the fact that I fail to differentiate between reserve funds and emergency funds shows that I didn't quit understand his opinion until you made it clear.

I am really in support with what you are saying here, I think the primary purpose of being here, especially in this thread is to learn, and in my own opinion, if that is not achieved, then their is no need being here in the first place, so it's a very good thing that as newbies that we are, we should be open to learning, so that we can be able to navigate our way safely in our Bitcoin investment in the nearest future.

Another thing that I have observed about the whole idea of Bitcoin investment is that, if you invest in it, base on what you can afford, it would be very easy to hold, as long as you have a reliable source of income.

[GigaBit]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

The price rise or fall of Bitcoin is a natural process. And since it is the most volatile, investors are always suggested to accumulate bitcoins. For those who plan to hold Bitcoin for the long term, price volatility is not an issue. They can collect bitcoins without any worries. Those who value DCA will benefit the most. Bitcoin will create new ATH today or tomorrow and thus they will cross $100k anytime but not everyone will benefit there only those who hold Bitcoin will benefit. It is important to stay focused on a specific target rather than panicking over a temporary price decline in the market.

[STT]

Totally normal action at present, its like a horse bolting which is alarming at times but normal.   I think BTC continues to prove itself volatile with this latest action snapping back on itself, taking us right back to similar prices we recovered from equally fast.

I realized I should give myself some credit for selling items in BTC.  Years ago I got 0.015 BTC few times for just some spare stuff a few sales online and it was really nothing at the time.  However now that pocket change amount shows up as 900 dollars.

I got to state the history of that because I think it will repeat, even small amounts now wherever you dont need to hold onto something you can sell.  Exchange it to BTC and hold it over years has been a good idea prior and imo also will again even in this sharp sell.   Lower price is more BTC in exchange, for buyers its a positive of course

Small amounts especially regularly adds up.   I examined an excellent fund back at 2000 at the start of the century.   If all I did was say 50 regularly into that it'd be massive now (it grew 20x), I took the safer route in that case but I got to learn the lesson.   [Also I used a lump sum when regular was proven a good idea]   It applies even more to BTC, just dont put in anything you cannot hold through any painful market gloom; that is the hard part.

It seems our hopes to see $100k needs to be waits for more as the market is going down.

Nothing recent has been off putting for me, its normal turbulence.   We'll get more of it as we head into the end of year.   This energy is also what can drive prices up, price is not value its just a shop label.

[Moreno233]

It seems our hopes to see $100k needs to be waits for more as the market is going down. We don't know how long this correction will stay in the market but we have a good chance to buy more amount at a lower price. This situation makes us to have more patience in waiting for the market to be back increase.

Waiting is part of the business so anyone who cannot wait will not be able to survive in Bitcoin investment. So, it is good to get the mind properly set on the right track with the understanding of the fact that investment in Bitcoin is a waiting game.  Whichever method anyone choses, be it DCA or buying the dip, there is some element of waiting and even when the Bitcoin have been bought, waiting is needed because holding is still part of waiting.

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

I don't think it will be possible to know exactly when the price will increase because even now you cannot tell when the retracement will stop. Due to the difficulty in know where the market will reverse, I have decided not to bother myself with such things, instead I put that energy into making good use of the opportunity the market offers at every point in time especially at a time like this where the market moved from $70k to a little above $60k which is a $10k differential. This will represent a chance to get a substantial amount of Bitcoin at very low price. So the plan should be to buy it all the way down to wherever it will stop the decline.

[aylabadia05]

But don't panic when we seeing the market still going down for more because that will be temporary and it will increase. Hopefully, we will have other good time in the next week so the price can increases back.

I don't think it will be possible to know exactly when the price will increase because even now you cannot tell when the retracement will stop. Due to the difficulty in know where the market will reverse, I have decided not to bother myself with such things, instead I put that energy into making good use of the opportunity the market offers at every point in time especially at a time like this where the market moved from $70k to a little above $60k which is a $10k differential. This will represent a chance to get a substantial amount of Bitcoin at very low price. So the plan should be to buy it all the way down to wherever it will stop the decline.

I completely agree with your plan, but I can imagine that this plan is just something some users say without actually doing it. Accumulation at any price is recommended when you have decided to invest, in whatever asset it is, accumulation is still recommended. The positive side of accumulating when the price corrects is that you will get more bitcoins, while you will get more returns when the price recovers. The average purchase price becomes lower, so you have directly cut the percentage loss due to the price decrease.

Of course, now it will take us longer to get $100k to become a reality. But I'm still optimistic about the possibility that $100k is achievable in 2024. If this fails, I definitely don't regret it because I'm basically still keeping the profits in my portfolio.