Your first Bitcoin goal should be consistency not big profit.

[Saltysugar99]

When starting to invest in Bitcoin, many people think about profit. New investors think about how many days it will double or when to sell to get more profit or when is the right time to invest. A new investor should never have the goal of making big profits. He should think about creating consistency and investing for a long time.

Because if someone tries to chase profits after thinking about investing in Bitcoin for a long time, it means that he becomes like trading mentality even after investing. And if you invest with such thoughts, you will be forced to make wrong decisions during the volatility of Bitcoin's price. However, one thing to understand is that consistency does not mean that you have to buy with the same amount all the time. You should invest regularly from your discretionary income according to your cashflow. There is no problem if the amount is more or less or if the DCA is closed for some reason for a few days. Many people think that they will start investing when they can deposit a large amount. But a lot of time and opportunity is wasted in depositing that large amount. And if the price is very high at that time, many people do not want to invest anymore. But if they could invest in Bitcoin continuously with small amounts, then it would definitely be more logical.

The first thing a new investor should do is to fix his financial structure and then start investing in Bitcoin regularly by understanding his expenses. It is possible to maintain the continuity of investment for a long time by forming a backup fund and investing from discretionary income. And that increases the chances of an investor getting into a profitable position over time.

[Mate2237]

Nice post Op and you really make alot of sense, I completely agree with you on your position profit generation should not and never be part of any new investor who is just coming to the Bitcoin market. Investors should first of all think about long term investment plan which is more safe and better for them, before ever thinking about making profit in the process. The need of profit has caused many people problems because when an investor who supposed to be studying and looking at the market, which is inexperienced starts talking about profit such an investor will likely have problems with his investments.


Profit should be a long term vision which should not come to play from the beginning. Invest Wait patiently knowing that bitcoin investment is one that requires lots of patience and perseverance, which is the reason why investors should not be in a hurry, but start small and maintaining consistency which is the key to success in Bitcoin investment.

[Tongley]

Yes, I completely agree with you, but I would like to add something to your comment. Although there is not only one investment method but many, you have only mentioned the DCA method. I mean, many people do not use only the DCA method but use other investment methods. The first goal of our investment should be to hold it for the long term. Because many people invest through Lumpsum. They invest a lot of money, there is no continuity in their investment, they should be steadfast in their goal of holding it for the long term.

[fredericktaylor]

Great post, It is never possible to make quick profits by investing in Bitcoin because the price of Bitcoin fluctuates very quickly, so it is very important to buy Bitcoin consistently with discretionary money from the beginning with the right knowledge and hold it for the long term with confidence. As a result the risk of losing money is reduced and there is a possibility of making a profit when the time comes. If an investor does not acquire the right knowledge about Bitcoin at the beginning and invests with a short-term plan only with the main purpose of getting rich quickly, the chances of losing money increase manifold because it is not confirm that an investor will make a quick profit by investing in Bitcoin because the volatile price of Bitcoin fluctuates very quickly. Therefore it is better to abandon greed and buy Bitcoin little by little with discipline and wait patiently for the right time with a long-term plan. As a result inflation is avoided in the future as well as there is a possibility of making money.

[Cityhunter34]

You're making things easier for new beginners to focus more on the goal. That is very good advice from you, OP. I think they should focus more on being consistent with their investment from now on, rather than chasing profits, because profits always come from consistentency, not anything else. It has been said several times here that Bitcoin investment is not a get-rich-quick scheme. You should always target for a long-term process and not look for ways to make money overnight, because that's not advisable at all. Making money from Bitcoin doesn't work that way.

[Son Of Blockchain (SOB)]

This is a fact OP, lately people chase big profits instead thinking of what they could achieve on a long term, i know that the excuse many people have is that the economy is bad and they need quick profits to sustain themselves in times like this, the truth is that Bitcoin can be perfectly used as an inflation hedge but on a long term period of holding.
 Not just holding but consistently adding to what you're holding to, chasing big profits is similar to gambling cause people who do that barely tend to hold longer, they risk what they have to hit it big in a short period, not minding that Bitcoin is volatile.

[POPOLUV]

I don't actually disagree the fact that as an investors your first Bitcoin goal should not be consistency of your investments journey, but i want to remind the OP that there is one thing that promote the level of consistency as an investors and which is discretionary income  and without the discretionary income i don't think there will be any goal of any consistency and on the second hands, I'm not even discriminating the fact an investors should not focus more on the level of consistency but I'm trying figure out the fact on how important discretionary income is and how discretionary income serve as an engine room which determine your level of consistency as an investors.

[Nathrixxx]

Be a consistent bitcoin investor and this alone will be the lane to your profitability in its investment, have the ability of holding and as well sell when the market gives the signal to do so, are consistency also makes everything work accordingly for us so that we don't the market as a burden whenever it is not performing as we wanted, but as long as we can hold, each market phase will be profitable.

[Stormisover]

The first Bitcoin goal should be a capital long term mindset for anyone that calls himself an investor as this only will promote consistency, he doesn't have to think about profits let alone big profits when he should be consistently accumulating bitcoin, long term mentality is a goal as bitcoin investment is a long term investment and not short term, chasing or thinking about profits too early will be a complete distraction and can slow down your investment especially when it is not going as you expected it to be, no one knows even when the big profits will be available so instead of worrying about it you focus on your long term goal.

[EarnOnVictor]

The first thing a new investor should do is to fix his financial structure and then start investing in Bitcoin regularly by understanding his expenses. It is possible to maintain the continuity of investment for a long time by forming a backup fund and investing from discretionary income.

You are aiming at what's good, but the truth is, it's not as easy as you think. The moment you are taking excuse to be financially okay before investing in Bitcoin, that's the moment you might not invest in it at all. All you would be seeing are prices moving against you and in favour of those who could act immediately. Money is funny, and some people acted immediately then, they were happy, even though some acted too crazily, but who cares??? Some dropped the money they entrusted in them in Bitcoin, while some took loans for it. Come and see testimonies thereafter. Those are extreme truly, but just brought out worst cases for a determined soup. Why not use Bitcoin as a savings (no matter how little)? But ensure all these happen only at the beginning of a bullish season, or when Bitcoin had fallen for almost 2 years.

[Dr.Bitcoin_Strange]

At some point, I feel that if someone truly learn and understand Bitcoin, they won't procrastinate their investment, they won't struggle to invest, they won't force consistency, because they have the understanding that by investing, they are on a journey to make profit on the long run and not just some kind of invest now & get rewards the next second Ponzi scheme. Big profit is for those that invested long time ago, those that got in when price was lower than the price that you are about to enter in with, so a beginner should be concerned with the desire to accumulate now into the future.

[Sammye3]

This is totally true and a good guide for newbies to follow. There is no easy way to earn in bitcoin without patience and consistency. This should be the basic principle for every bitcoin investment and a long term profit. There is always a problem when newbies start a bitcoin investment with the wrong mentality and the outcome would most times be negative.

In every investment, one should attain balance first before searching for bigger profits and that is comparable with bitcoin too. The first thing in one's bitcoin's journey should be acquiring knowledge first and mastering a certain strategy for short term or long term, stay consistent no matter the outcome and never see it as a get-rich-quick project as result could take longer than expected.

[Mhizlove]

Yes, I completely agree with you, but I would like to add something to your comment. Although there is not only one investment method but many, you have only mentioned the DCA method. I mean, many people do not use only the DCA method but use other investment methods. The first goal of our investment should be to hold it for the long term. Because many people invest through Lumpsum. They invest a lot of money, there is no continuity in their investment, they should be steadfast in their goal of holding it for the long term.

I will say that either is DCA or lumpsum, the most important thing is that the method should go in line with the person's financial problem or the level of risk that can be managed,because not all strategy or methods can work for everyone, because everyone one of them has it's own advantages and risks. But as long as the person is investing with a good investment plan and do not panic because of the short term price movement, the chances of achieving a long term goal will increase. What helps investors achieve a good result over time is consistency, self discipline and patience.

[PremiumcryptoHub]

I agree with you that new investors are chasing quick profits and they think about how many days the price of BTC will double or when is the best time to enter the market but they should not get stuck in this misconception and focus more on creating consistency. Actually if someone thinks about investing in the long term and then goes after profits, then his mentality becomes like a trader, as a result of which he will not hesitate to sell if the market goes down at any time due to volatility, but I think consistency is not that. In fact the consistency of Bitcoin investment is to keep the buy order open regardless of the price, that is, to be systematically involved in Bitcoin investment. Therefore, everyone needs to fix their financial structure and invest through discretionary income, which will enable the new members of this local board to invest with long-term consistency.

[CryptoHeadlineNews]

The first thing a new investor should do is to fix his financial structure and then start investing in Bitcoin regularly by understanding his expenses. It is possible to maintain the continuity of investment for a long time by forming a backup fund and investing from discretionary income. And that increases the chances of an investor getting into a profitable position over time.

It's true that consistency should be the number one priority of every newbie investor as they kick-start their Bitcoin journey apart from seeking immediate profits. Since in Bitcoin, patience is one criteria that usually plays an important role in the success of its investors. And the only way one can be able to accumulate a good number of Bitcoin as of today is only by been a consistent accumulator of it. And one of the beauty about Bitcoin is that it has come to stay and it is going nowhere. And because of that, chasing immediate profits should be the wrongest approach any newbie should make regarding Bitcoin. Because it i indeed an asset that guarantees long term value over its investment.

[Joeboy]

Bitcoin has never been a quick- profit scheme, and any one entering into Bitcoin with the expectation of making it big will eventually end up in a total disappointment.. Coz Bitcoin price recovery and appreciation comes in the long term.. Infact I really don't see it as wise for we to think of Bitcoin as a guaranteed profit bringing assets... There isn't any kind of assurances of what Bitcoin will play out, and where the importance of using discretionary income to invest become very important..

[Antidote47k]

The best part about investing regularly is that it stops you from stressing out.
We all know people who spend months waiting for the "perfect" price to buy. If the price goes up, they feel like they missed out. If it drops, they get scared it will fall even lower. In the end, they spend all their time worrying instead of actually investing.
That is why it's better to just buy whenever you have a little extra money to spare. It doesn't even have to be the same amount every time. The goal is just to have a plan you can stick to without hurting your wallet.
You don't need a huge amount of money to start, either. Putting in small amounts over time works much better than waiting for the perfect moment—because no one ever knows a moment is perfect until after it passes.

[Tetu100]

Perfect point op, but in addition to what you have said. As an investor, has success in mind part of your goals that can aid up a successful bitcoin investment is to be more focused on the longterm plan, you should not be more concerned or panic at any slide dip because thinking more on that can only stimulate panic and make you sell at lost. Your goal should be mostly on securing a better future ahead, your goal is not to bend to pressure no matter what and I can bet you that your success will be as loud as you can ever think.

[Felicity_Tide]

A new investor should never have the goal of making big profits. He should think about creating consistency and investing for a long time.

Well, making profits is never a goal. It's actually an aim behind every investment.
While the consistency and longer term plans, needs to be broken down into objectives and goals respectively. Goals are actually plans you want to achieve within a specific timeframe in order to achieve your aim. Take a 4 years investment plan for example. That's already a goal because it's something you want to meet, but you can also decide to break it further into more phases_{(smaller timeframes)}, like let's say 1 year or 6 months targets to meet.

[Thomas scholes]

Well said, As a beginner in Bitcoin, keep stacking Stats little by little instead of rushing into making profit, Stay disciplined, and take time to learn and understand bitcoin network and how it works.
In Bitcoin, those who learn well and stay consistent usually do better in making  profits with time. If your goals is to make profit at the early stage, it might trigger greed and it will result to financial loss.
Keep learning, keep stacking and let your bitcoin grow.