Bitcoin Accumulation Is Easier When Your Finances Are in Order

[Just Say]

Anyone without a discretionary income isn't ready to invest in bitcoin. Without a good financial management so many folks may find it difficult to determine the availability of discretionary income as they may spend money on reckless things that may not really be that much important to them. However with good financial management, we can be able to know how much financial expenses that is supposed to be sorted and also if there is left over to invest in bitcoin. In other to avoid investing with money that is not our discretionary income we should be able to determine the availability of discretionary income.

Certainly, you are right because without good financial management, it becomes difficult for many to determine the availability of discretionary income. So I would say that in the case of Bitcoin investment, one should make arrangements for discretionary income and it is right that instead of saving fiat currency, one should invest in this Bitcoin. Indeed we can always see that the value of fiat currency gradually decreases, so instead of accumulating them, investing in Bitcoin with good financial management has the opportunity to make more profits. At present, this news has become sensational for everyone because the price of the Iranian rial has collapsed a lot, that is, one Iranian rial is now worth zero dollars. I think in this case, it can be said that by managing financial expenses even if there is a small amount of fiat currency, one should invest in Bitcoin with that.

[Bright0515]

This is the more reason why it’s advisable to invest in bitcoin with just a discretionary income, this is the money left with an individual after sorting out his or her other basic financial obligations or needs. The mistake most people do in bitcoin investment is that they tend to use the money meant for other of their primary basic financial needs to invest in bitcoin, and when they are faced with some emergency financial situations they end up selling their bitcoin holdings when it’s not yet time and most end up selling at a loss.

Yes that's right, we all know that it is possible to make a lot of profit by doing invested Bitcoin. But money that is used to invest is money that is used financially. And this is the main mistake because any family problem will force you to sell bitcoins. If we have other sources of income,Then it is possible to save the invested money very easily. Investing in Bitcoin requires planning to hold for a certain period of time. Then I will be saved from loss and I will be able to save for the future for sure.

Without a proper financial management there will always be challenges during Bitcoin investment. If your plan is to invest in Bitcoin for a long term then you will be needing a good strategy that you can use for the long term investment. DCA is a good strategy, you invest with little amount so even though Bitcoin reduce your can keep on accumulating either with DCA method or by using lump sum strategy, when it skyrocket you probably need to keep on with DCA method. But you can not do all this without a proper plan or without being financially stable. You need to invest on Bitcoin with a discretionary income and you also need money for emergency also, do that you don't have to sell your coin to solve any family problem in the future because emergency doesn't alert before it comes.

[Dunamisx]

Before we can invest, it is necessary that we have to arrange for our financial implementation, because this is also part of the budget and to be precise, the main reason why we are investing and as without having this in order, our plan to invest as we may want could not come easier or made possible that we go profitable, investment comes with being able to manage resources and utilize them for profiting by investing using the right strategy we ought to consider.

[Grace333]

Before we can invest, it is necessary that we have to arrange for our financial implementation, because this is also part of the budget and to be precise, the main reason why we are investing and as without having this in order, our plan to invest as we may want could not come easier or made possible that we go profitable, investment comes with being able to manage resources and utilize them for profiting by investing using the right strategy we ought to consider.

Yeah, If your finances are not properly arranged, investing will be stressful and not structured. Putting your financial plan in order will help you know what you can afford to invest, what to save, and what to spend.

When your personal budget is clear, investing will become easier and more consistent. You are able to choose, make clear decisions and stay disciplined. Good investing is really about good money management first, without that, it will become much harder.

[Leahized]

Without a proper financial management there will always be challenges during Bitcoin investment. If your plan is to invest in Bitcoin for a long term then you will be needing a good strategy that you can use for the long term investment. DCA is a good strategy, you invest with little amount so even though Bitcoin reduce your can keep on accumulating either with DCA method or by using lump sum strategy, when it skyrocket you probably need to keep on with DCA method. But you can not do all this without a proper plan or without being financially stable. You need to invest on Bitcoin with a discretionary income and you also need money for emergency also, do that you don't have to sell your coin to solve any family problem in the future because emergency doesn't alert before it comes.

This can usually be done by older investors. Because they have been investing in bitcoin since past and they have enough money. So if they have any family problems it will not affect the invested money. But nowadays those who invest don't have much money. That's why they want to be self-sufficient by investing in Bitcoin. Hence proper monitoring becomes mandatory. I think it's a very good time for bitcoin investors.Because Bitcoin reached 95k today. And by doing technical analyzes it is understood that btc will not go towards recession. And in this journey BTC will reach new ATH. Just waiting for us.

[DeeppRockk]

Without a proper financial management there will always be challenges during Bitcoin investment. If your plan is to invest in Bitcoin for a long term then you will be needing a good strategy that you can use for the long term investment. DCA is a good strategy, you invest with little amount so even though Bitcoin reduce your can keep on accumulating either with DCA method or by using lump sum strategy, when it skyrocket you probably need to keep on with DCA method. But you can not do all this without a proper plan or without being financially stable. You need to invest on Bitcoin with a discretionary income and you also need money for emergency also, do that you don't have to sell your coin to solve any family problem in the future because emergency doesn't alert before it comes.

This can usually be done by older investors. Because they have been investing in bitcoin since past and they have enough money. So if they have any family problems it will not affect the invested money. But nowadays those who invest don't have much money. That's why they want to be self-sufficient by investing in Bitcoin. Hence proper monitoring becomes mandatory. I think it's a very good time for bitcoin investors.Because Bitcoin reached 95k today. And by doing technical analyzes it is understood that btc will not go towards recession. And in this journey BTC will reach new ATH. Just waiting for us.

Interesting take, Leahized.
While I see your point about older investors, I'm not sure age is the main factor here. Discipline and consistent habits seem more crucial than just time in the market. Also, newer investors might actually be more adaptable to monitoring because they're starting fresh without legacy habits.

What do you think about that?

[Leahized]

While I see your point about older investors, I'm not sure age is the main factor here. Discipline and consistent habits seem more crucial than just time in the market. Also, newer investors might actually be more adaptable to monitoring because they're starting fresh without legacy habits.

What do you think about that?

First of all, if we consider the economic, then the investors in the past have benefited the most compared to the new investors. However I think investing in bitcoin doesn't require much skill, only money and patience are the most important. As older investors were able to buy bitcoins at very low prices which is not possible today. Yes I agree new entertainers can always adapt very quickly.But you have to remember that new investors lose patience very quickly and are forced to sell all bitcoins at a loss immediately after a huge impact on the market. Which older investors never do.