How much think should be keep in mind when starting a Bitcoin investment ?

[Son Of Blockchain (SOB)]

You are treating discretionary and extra funds as the same thing, in fact almost all of us here know that these are two different concepts of financial management. Anyway if you have a certain amount of Naira for a few months then it may be extra fund but the amount of Naira you have left after all your maintenance is discretionary funds. Even if you have discretionary income, a person can start from his current situation because this amount of naira is enough to start investing in Bitcoin and some basic knowledge is enough, even self-control and discipline are essential in Bitcoin investment but we should ignore these excuses and start from the current situation.

Discretionary income is extra funds, most people seem to think that if it's a reasonably large amount of money it automatically cannot be classified as discretionary income but that's wrong, as long as you can settle all of your bills without it then it's considered discretionary regardless of how much it is, let's say a gambler won a good amount of money from gambling, this is discretionary income of he could still pay his bills without it, maybe his expenses might increase because of that much extra cash but that's because he wants to spend more, the increase in his expenses wasn't automatic simply because he won that money, his expense increased because he wanted it to, maybe now no longer using the regular public transport, paying for higher subscriptions, these are not necessities incthe sense that he could very well still live without them as he was before hitting jackpot so the extra is essentially discretionary income until he decides that his basic expenses need a raise.

They're not same thing but similar in the sense that they're what's left after important expenses although the discretionary income is best for investment purpose and should already be set aside before or when making plans towards an investment.
 Whereas the extra funds can come in after investment basically surplus money gotten from an investment or a business and not basically used for investment purposes even though it's the remainant from an income so I think what he explained to you is kinda correct.

[Houston240]

Your question is more complicated and if someone is not careful can think of another answer when answering it. For me, it should be how much should someone keep in mind before starting a Bitcoin investment. Well, my answer is very simple. Before anyone ventures into a business, he first do a Market survey to know about the location, the loss and risk when starting up the business.
Before you venture into Bitcoin, we need to know the risk in it, the method and strategies to be used while starting up the investment and also what it takes to venture in the investment. If I am to become a new investor in Bitcoin, I will first understand how the market works before investing in it. I can start with DCA method where by I invest using a little income more than starting with a bigger money. Starting small and making a profit will be nice than starting high and loosing everything. So when you invest using the DCA method, the market will favor me and you.

[Houston240]

First off, your choice of subject (topic) should've been, "things you should keep in mind when or before starting a Bitcoin investment" it would've made it less confusing cause you used "how much think" instead of how much things" anyways I read through the body of the subject matter and I think you're on point and have been taking your research about Bitcoin investment seriously.

 In conclusion, asides all the important things you just listed and explain, another important thing those who're interested in Bitcoin investment should have is "patience" cause since holding Bitcoin for longer period makes it more valuable every investor has to be patient enough to watch it grow. It's one of the key to success in Bitcoin investment.
 

All what he pointed out are all correct, but the mode in which he asked the question was a bit confusing. Well before you do anything in life there must be factors you must first consider before engaging in anything whether business or not.
You made mention about patience and I still agree with you but what if you are being patient enough and holding your Bitcoin but all of a sudden Bitcoin drops, what will be your faith or our faith since I am into it too. Patience is one of the key and also his listed factors too but what will be our faith when after doing all this Bitcoin crashes.

[ZeroVinsonN]

First off, your choice of subject (topic) should've been, "things you should keep in mind when or before starting a Bitcoin investment" it would've made it less confusing cause you used "how much think" instead of how much things" anyways I read through the body of the subject matter and I think you're on point and have been taking your research about Bitcoin investment seriously.

 In conclusion, asides all the important things you just listed and explain, another important thing those who're interested in Bitcoin investment should have is "patience" cause since holding Bitcoin for longer period makes it more valuable every investor has to be patient enough to watch it grow. It's one of the key to success in Bitcoin investment.
 

All what he pointed out are all correct, but the mode in which he asked the question was a bit confusing. Well before you do anything in life there must be factors you must first consider before engaging in anything whether business or not.
You made mention about patience and I still agree with you but what if you are being patient enough and holding your Bitcoin but all of a sudden Bitcoin drops, what will be your faith or our faith since I am into it too. Patience is one of the key and also his listed factors too but what will be our faith when after doing all this Bitcoin crashes.

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

[Mate2237]

Snip

Snip

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

I believe that one of the first things, every Bitcoiner should learn first has to do with the nature and characteristics of Bitcoin, most of the misrepresentation that people are having, even those who claims to be investing in crypto is the fact that proper foundational knowledge is not there and is lacking. So even though such people invest they are not fully confident of their investments because they are doing it with the mindset of luck which supposed not to be so. Gathering full understanding of the how Bitcoin works and how we can benefits from it adoption is paramount for every investor.

When I mean knowledge I mean taking responsibility of your investment, because anyone who is investing in Bitcoin should be conscious of what is not uptainable and what is uptainable while investing, if an investor knows that it's not every time that the price will be favorably such an investor will program his mindset to endure even the worst of markets.

[ZeroVinsonN]

Snip

Snip

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

I believe that one of the first things, every Bitcoiner should learn first has to do with the nature and characteristics of Bitcoin, most of the misrepresentation that people are having, even those who claims to be investing in crypto is the fact that proper foundational knowledge is not there and is lacking. So even though such people invest they are not fully confident of their investments because they are doing it with the mindset of luck which supposed not to be so. Gathering full understanding of the how Bitcoin works and how we can benefits from it adoption is paramount for every investor.

When I mean knowledge I mean taking responsibility of your investment, because anyone who is investing in Bitcoin should be conscious of what is not uptainable and what is uptainable while investing, if an investor knows that it's not every time that the price will be favorably such an investor will program his mindset to endure even the worst of markets.

Knowledge is important but it's not paramount for anyone to be able to invest in bitcoin, at least not full knowledge of everything, I fact it's not realistic enough for someone to be able to acquire all the knowledge pertaining to bitcoin investment, you might as well not invest in bitcoin at all because when you start waiting you will never be able to start unless you change the mindset of fully acquiring all of the knowledge related to bitcoin before you start investing.

[Crytohillss]

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

Waiting until one know or understand everything can keep people stuck on the sidelines forever, nobody ever really has complete knowledge  especially with something as fast moving as Bitcoin that I think there's a balance moving in blindly isn't ideal either having at at least a basic knowledge of how it works the risks involved and what one are getting into can save you from costly mistakes. Begin little and learn as you go and builds your confidence on time.

[The Founding Titan]

You are treating discretionary and extra funds as the same thing, in fact almost all of us here know that these are two different concepts of financial management. Anyway if you have a certain amount of Naira for a few months then it may be extra fund but the amount of Naira you have left after all your maintenance is discretionary funds. Even if you have discretionary income, a person can start from his current situation because this amount of naira is enough to start investing in Bitcoin and some basic knowledge is enough, even self-control and discipline are essential in Bitcoin investment but we should ignore these excuses and start from the current situation.

Discretionary income is extra funds, most people seem to think that if it's a reasonably large amount of money it automatically cannot be classified as discretionary income but that's wrong, as long as you can settle all of your bills without it then it's considered discretionary regardless of how much it is, let's say a gambler won a good amount of money from gambling, this is discretionary income of he could still pay his bills without it, maybe his expenses might increase because of that much extra cash but that's because he wants to spend more, the increase in his expenses wasn't automatic simply because he won that money, his expense increased because he wanted it to, maybe now no longer using the regular public transport, paying for higher subscriptions, these are not necessities incthe sense that he could very well still live without them as he was before hitting jackpot so the extra is essentially discretionary income until he decides that his basic expenses need a raise.

They're not same thing but similar in the sense that they're what's left after important expenses although the discretionary income is best for investment purpose and should already be set aside before or when making plans towards an investment.
 Whereas the extra funds can come in after investment basically surplus money gotten from an investment or a business and not basically used for investment purposes even though it's the remainant from an income so I think what he explained to you is kinda correct.

You are making it look like what's left after investing in bitcoin from your discretionary income isn't discretionary income anymore, it's now extra funds? Most of you are limiting what the discretionary income is, limiting it only to their bitcoin investment, if it's not used for buying bitcoin then it's not discretionary income but that mindset is very wrong, anything that you can consider to be your extra funds comes from your discretionary income and therefore is your discretionary income, surplus money gotten from an investment or a business as long as it's not needed to settle your essential needs automatically falls under the umbrella of your discretionary income.

[GoldBitcoin112]

Hey there, I am Ninja,  I have researched Bitcoin for a long time, I am creating this post to fully test my knowledge, I am sharing here an overall idea of ​​how many things to keep in mind and what is needed for Bitcoin investment, you can correct me if I am wrong here.

I am explaining the things step by step:

Fundamental Understanding: To hold an investment effectively, you must have basic knowledge, how Bitcoin works, what is its main point, what is its probability of success, what is its probability of loss, the investor should first acquire basic knowledge about all these things. and after you start investing, you can learn these things, Blockchain, mining, halving process should be understood, if an investor understands these, he will be able to understand the long-term potential of Bitcoin, so he can hold Bitcoin for the long term with more confidence.



Financial Planning and Allocation: To make an investment effective in the long term, the financial condition is of great importance, it is not easy to invest without a source of income, you must have a reliable and regular source of income. Suppose your monthly income is $500, you spend a total of $400 on all your expenses every month, and you have $100 left over. After deducting all the money for all these expenses and needs, the amount of money left over from your income that is unnecessary should only be used for investments. The necessary money should not be used for investments in any way. In this case, if you do not have any source of income, then you will not be able to maintain it for the long term unless you have a separate unnecessary amount of money for any investment.



Buying strategy: You have to be consistent in buying, if you invest for long-term purposes, you have to buy continuously and also accumulate Bitcoin at an average price, and the most correct strategy for this is DCA. If you wait to buy, you will miss the opportunity, Bitcoin does not fluctuate according to your expectations, so when buying, you have to set a specific time without worrying about the price and no matter what the price of Bitcoin is at the same time every week or every month, you have to buy Bitcoin with a certain amount of money. There is no need to be aggressive here, be consistent and long-term, then this will bring good results in the long run.



Market Analysis: It is very important to be careful about the fluctuations of the market when holding Bitcoin investment for the long term, basically you have to accept the fluctuations in the market, ignore the volatility, and keep Bitcoin for long-term purposes by maintaining a long-term mindset, the market will always fluctuate a lot but you should not panic about them and keep the investment long-term by maintaining a long-term mindset.



Investment Duration: Bitcoin is not a get rich quick scheme, generally to achieve significant success from Bitcoin investment, you must decide to hold the investment for the long term, here keeping a short-term mentality means trading, the Bitcoin market is very volatile in the short term but shows a stable growth trend in the long term, in this case we have to determine the time to hold the investment in conjunction with the Bitcoin halving process. Bitcoin halving occurs every 4 years, and after each halving there is a great chance for Bitcoin to touch new heights, as we have seen in the past. So if we can decide to hold our investment for 2 to 3 halvings, then our chances of success will be very high, and this has the potential to bring us success on a much larger scale.



Emergency fund: The importance of emergency fund is essential in Bitcoin investment, but unfortunately many new investors ignore this emergency fund in the first place, it is not possible to say when the unexpected time comes, any accident comes suddenly, bad situations in people's lives take a very terrible shape and it happens in every person's life, so in such situations money is needed a lot, that is why, if you do not have an emergency fund, then in such unexpected times you will have to sell any of your valuables, to manage that unexpected situation. And as such, if you invest in Bitcoin and without any emergency fund, then in an emergency situation you may have to depend on your Bitcoin investment in any way, so this will definitely lead you to loss, because if the market is down at that time, you will have to sell the investment despite the loss.



Trusted Bitcoin Wallet and Security: "Not your keys, not your coins." Do not keep coins on exchanges for long periods of time, beware of phishing and scams, keep your private key top secret and strictly to yourself, never tell anyone about your Bitcoin holdings, you can keep it as secret as possible, the more you and your Bitcoin will be safe. Always keep 2FA enabled on exchanges, do not connect your wallet to public Wi-Fi in any way, recovery phrases should be kept with caution and caution, it is best if two copies of the phrase are kept in separate places, because if you only keep one copy and it is somehow lost, your Bitcoin will be completely blocked. So you have to be careful in these cases and keep Bitcoin completely in a self-custody wallet, Self-Custody is a right. And overall, the safest way to hold Bitcoin is with a hardware wallet, keeping it physically safe by completely disconnecting it from the internet connection, and keeping the seed phrase as secure as possible.


If I missed anything important, please let me know.

Ninja~ 

Any amount you have you can start very easily, without much stress as a bitcoin investment euthousiast no one will beg you to start investing in Bitcoin because you already knows the value in time to come , so all you will do is to invest using your descretionary income, so if you start small in the future try to add more values to your portfolio, but the most important aspects is to get started.

[Crytohillss]

You are treating discretionary and extra funds as the same thing, in fact almost all of us here know that these are two different concepts of financial management. Anyway if you have a certain amount of Naira for a few months then it may be extra fund but the amount of Naira you have left after all your maintenance is discretionary funds. Even if you have discretionary income, a person can start from his current situation because this amount of naira is enough to start investing in Bitcoin and some basic knowledge is enough, even self-control and discipline are essential in Bitcoin investment but we should ignore these excuses and start from the current situation.

Discretionary income should not suddenly changed it meaning just because some people chose to put part of it into bot Bitcoin investment. at the end of the whole day anything leftover after covering essential is  still discretionary or coming back as gain I think where individuals get mixed Up.  is treating one type of use like crytop as if it is defined.

[Sir_Garry55]

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

Waiting until one know or understand everything can keep people stuck on the sidelines forever, nobody ever really has complete knowledge  especially with something as fast moving as Bitcoin that I think there's a balance moving in blindly isn't ideal either having at at least a basic knowledge of how it works the risks involved and what one are getting into can save you from costly mistakes. Begin little and learn as you go and builds your confidence on time.

Getting knowledge at once is never possible, even the pro are still learning and searching for new information everyday. This is something that is unending, no matter how we are good in the system, many things are still there for use to learn.
A fast moving system like that of Bitcoin can not be fully understood, just have the basic of what you need to know as a starter, then has you have made it known, starting with what you can afford, hold that, with it you can be learning and getting that knowledge you desire to have, it is just step at a time then gradually you will totally be in the system

[WIYO1]

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

Waiting until one know or understand everything can keep people stuck on the sidelines forever, nobody ever really has complete knowledge  especially with something as fast moving as Bitcoin that I think there's a balance moving in blindly isn't ideal either having at at least a basic knowledge of how it works the risks involved and what one are getting into can save you from costly mistakes. Begin little and learn as you go and builds your confidence on time.

If you wait to understand everything before starting with something that is changing as quickly as Bitcoin, you’ll never start because no one has complete knowledge of Bitcoin. It’s okay not to have all of the answers. you need to strike a good balance between having an understanding of Bitcoin and jumping into it without knowing anything about it. therefore, you can make a mistake if you don’t have an understanding of how Bitcoin works, what the risks are, and what to expect. So, you should take small steps when investing in Bitcoin as you get more familiar with it. gradually develop your confidence level over time.

[Fiasem20]

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

Waiting until one know or understand everything can keep people stuck on the sidelines forever, nobody ever really has complete knowledge  especially with something as fast moving as Bitcoin that I think there's a balance moving in blindly isn't ideal either having at at least a basic knowledge of how it works the risks involved and what one are getting into can save you from costly mistakes. Begin little and learn as you go and builds your confidence on time.

If you wait to understand everything before starting with something that is changing as quickly as Bitcoin, you’ll never start because no one has complete knowledge of Bitcoin. It’s okay not to have all of the answers. you need to strike a good balance between having an understanding of Bitcoin and jumping into it without knowing anything about it. therefore, you can make a mistake if you don’t have an understanding of how Bitcoin works, what the risks are, and what to expect. So, you should take small steps when investing in Bitcoin as you get more familiar with it. gradually develop your confidence level over time.

You’re asked as a beginner to gain a little knowledge about bitcoin before starting your investment journey,you’re not told to acquire all the knowledge about bitcoin atleast you can start with the basic knowledge and understanding the basic knowledge wouldn’t take a full year not even a month except the individual is a slow learner.Knowledge is power,when you have knowledge you can also make a good decision on to go about things.Bitcoin investment requires patience and understanding,understanding the basics and being patient would keep you motivated in the Bitcoin ecosystem and crypto space at large.

[The Founding Titan]

Anyone who wants to invest in bitcoin should already know that bitcoin is a volatile asset, a drop is the price wouldn't shake an investor because they would already be expecting it or at least be ready for it if and when it happens, most people who come into bitcoin without the knowledge of it's volatility are usually the ones why sell when ever they panic that the price has dropped, their intentions are usually quick profit so the moment price shift in a way that doesn't favour them they become afraid and end up selling too soon.

Waiting until one know or understand everything can keep people stuck on the sidelines forever, nobody ever really has complete knowledge  especially with something as fast moving as Bitcoin that I think there's a balance moving in blindly isn't ideal either having at at least a basic knowledge of how it works the risks involved and what one are getting into can save you from costly mistakes. Begin little and learn as you go and builds your confidence on time.

If you wait to understand everything before starting with something that is changing as quickly as Bitcoin, you’ll never start because no one has complete knowledge of Bitcoin. It’s okay not to have all of the answers. you need to strike a good balance between having an understanding of Bitcoin and jumping into it without knowing anything about it. therefore, you can make a mistake if you don’t have an understanding of how Bitcoin works, what the risks are, and what to expect. So, you should take small steps when investing in Bitcoin as you get more familiar with it. gradually develop your confidence level over time.

You’re asked as a beginner to gain a little knowledge about bitcoin before starting your investment journey,you’re not told to acquire all the knowledge about bitcoin atleast you can start with the basic knowledge and understanding the basic knowledge wouldn’t take a full year not even a month except the individual is a slow learner.Knowledge is power,when you have knowledge you can also make a good decision on to go about things.Bitcoin investment requires patience and understanding,understanding the basics and being patient would keep you motivated in the Bitcoin ecosystem and crypto space at large.

Even for a slow learner it will take at most a few hours for them to grasp the basics of bitcoin investment, anyone who requires a months just to get the basic knowledge about bitcoin investment is just being lazy and procrastinating and not really acquiring knowledge about bitcoin.
Sometimes I wonder why people think they need to learn too much before they can invest, a simple use of a search engine and you can get the information you are looking for, browse through this forum for a few hours and you will get the information you are looking for, it's not something you need to spend a whole month trying to understand before you can start investing.

[Mayor of ogba]

Its good for one to build up the habit as you said, before one can now stays free and focus on what they are meant to do, because indiscipline as cause so many people to the things in the wrong way, which makes them not to achieve their purposes, that is to say they have to stop their journey due to one issue or the other. But, if they choose to build up self-control or discipline first, they can find it easy to navigate through any challenges and get what they want in life.

Building self-control or discipline is quite good for someone who wants to invest in bitcoin because it will help the person stick to his or her decision of not living a reckless or wayward life that will influence him or her to temper his bitcoin investment to fund his or her reckless or wayward lifestyle. But if a person have discretionary income readily available, it's very much advisable for that person to start investing in bitcoin even when he or she haven't yet build self-control or discipline, I believe the best way to build self-control or discipline is when someone is investing in bitcoin.

[Sir_Garry55]

Its good for one to build up the habit as you said, before one can now stays free and focus on what they are meant to do, because indiscipline as cause so many people to the things in the wrong way, which makes them not to achieve their purposes, that is to say they have to stop their journey due to one issue or the other. But, if they choose to build up self-control or discipline first, they can find it easy to navigate through any challenges and get what they want in life.

Building self-control or discipline is quite good for someone who wants to invest in bitcoin because it will help the person stick to his or her decision of not living a reckless or wayward life that will influence him or her to temper his bitcoin investment to fund his or her reckless or wayward lifestyle. But if a person have discretionary income readily available, it's very much advisable for that person to start investing in bitcoin even when he or she haven't yet build self-control or discipline, I believe the best way to build self-control or discipline is when someone is investing in bitcoin.

Discipline as a core to talk about is both discussed outside the box and that inside as well. Outside the box which means, lifestyle aside investment and inside the box, is lifestyle during investment. These things is very much important to say.
One one invest in Bitcoin the next thing is discipline inside the box which can tell how to manage self control, fear during the period of holding,as this will fully help to hold for long, not just for a short period of time, maybe due to some circumstances one falls out to selling all what is worth holding for long.
After which what is applied is discipline outside the box, which do explain your lifestyle that will influence how long you are going to be holding. Most holders, fail to maintain this because of how they tend to fund their lifestyle and all what they want, mostly irrelevant things,and if this is like an addict, it will be difficult to hold Bitcoin for long.

Investing and holding for long is not as easy the way we may think, it is during that time we can tell so many challenges we will never expect to come, and that is why we need to understand the principle of Bitcoin investment "HOLD YOUR BITCOIN" very much important.

[Achalugo BTC]

Investing and holding friends and holding for long is not as easy the way we may think, it is during that time we can tell so many challenges we will never expect to come, and that is why we need to understand the principle of Bitcoin investment "HOLD YOUR BITCOIN" very much important.

Absolutely, holding Bitcoin is not an easy thing that one will just come and boost about it, before one can boost about it, they might have fall several times and arise again, which have make them to understand  and teach themselves how to master their emotions and how to navigate through it. That is to say, they are able to overcome the challenges or temptation that will come their way, also its important for people to have or engage in order activities to ensure they have other resources, that will aid them while they achieve their aim of holding Bitcoin.

[Somto9Light]

Building self-control or discipline is quite good for someone who wants to invest in bitcoin because it will help the person stick to his or her decision of not living a reckless or wayward life that will influence him or her to temper his bitcoin investment to fund his or her reckless or wayward lifestyle. But if a person have discretionary income readily available, it's very much advisable for that person to start investing in bitcoin even when he or she haven't yet build self-control or discipline, I believe the best way to build self-control or discipline is when someone is investing in bitcoin.

Discipline is the only language that one needs to understand when hodling Bitcoin because it will help you to avoid some mistakes that needs to happen, for it might cause you some emotional impulses that will even make you to make mistakes and ruined all your plans and effort. Although, one don't need to master everything before they can hodl but as they keep hodling, the more they will be getting experience of thing and will be able to make some changes that will be profitable to them.

[Sammye3]

The right question should be how long do you intend to hold bitcoin? Because the price of bitcoin might not get to your expectations until you lose hope in its system and you panic sell. Bitcoin's movement is like a tortoise and we have not seen the massive bitcoin's bull season yet.

Keeping an amount in mind would only get you disappointed,  just keep a stipulated period you are willing to hold bitcoin and stay consistent regardless of the market price action. That is the only way to have a clear head and not make irrational decisions that could end in regrets.

[icebar]

Building self-control or discipline is quite good for someone who wants to invest in bitcoin because it will help the person stick to his or her decision of not living a reckless or wayward life that will influence him or her to temper his bitcoin investment to fund his or her reckless or wayward lifestyle. But if a person have discretionary income readily available, it's very much advisable for that person to start investing in bitcoin even when he or she haven't yet build self-control or discipline, I believe the best way to build self-control or discipline is when someone is investing in bitcoin.

Discipline is the only language that one needs to understand when hodling Bitcoin because it will help you to avoid some mistakes that needs to happen, for it might cause you some emotional impulses that will even make you to make mistakes and ruined all your plans and effort. Although, one don't need to master everything before they can hodl but as they keep hodling, the more they will be getting experience of thing and will be able to make some changes that will be profitable to them.

Many investors make wrong decisions due to their wrong mentality and emotions, sell out of fear or make wrong decisions out of greed, such a mentality should be abandoned. Many people neglect the issue of discipline in investing, but investment stability and discipline are very important, because they will keep us away from making wrong decisions. We have to learn everything in a disciplined manner, it is not necessary to learn everything in advance, but rather we should start investing first and understand things with real experience, because it is more effective. You have to be careful about your goals, risk-taking ability and stability in such matters, these require discipline, we can never go to any good stage randomly.