Waiting for perfect financial condition can delay Bitcoin journey

[disbil]

I don't think bad ideas waiting for perfect financial condition for investing in bitcoin, current bitcoin price not stable yet its not make delay investing in bitcoin journey and easily how to avoid risk to make bitcoin for long term assets investment. Before raising perfect financial condition get difficulty how to manage well for investing in bitcoin how much allocate for investment until fund have to allocate for other needed.

Last option for the investor really want to invest in bitcoin but not reach the perfect financial condition use DCA strategy, allocate few percent your salary for investing in bitcoin as monthly or weekly way but not make difficult regarding how much your monthly income. However have perfect financial condition make us easily manage well and allocate how much investing in bitcoin.

[uneng]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation.

This is a common phenomenon among potential investors who have never invested in Bitcoin yet. They wait for the perfect time, and for that reason, they end never investing, because they always think the next day is going to be the perfect day, so they are suddenly caught by surprise by price increasements in BTC price, what lead them to the conclusion it's better to wait for the next cycle to finally invest.

Therefore, it's better to start investing in bearish market, but without getting worried if it's the perfect time to do so. If the market is bearish, it's a good moment to invest, and that should be enough.

[SPIDERMAN008]

The thought that one need to have large amount of money before buying Bitcoin is mostly common among newbies. Those that started buying with less than $50 weekly over the last two years will look back at their portfolios now and happily smile at their decision to start small. You can be building your emergency fund while also accumulating Bitcoin, it's very possible with proper budgeting.

You are right. many new investors think that since the price of Bitcoin has become very high, it may not be possible to invest without a large amount of money. But if you can consistently invest in Bitcoin with a small amount, it will grow into a large amount over time and become a necessary asset. According to what you said, if someone starts with $50, that is not bad either. If you buy Bitcoin for $50 a week, then you are investing about $2,600 a year, and about $5,200 in two years. With consistency and proper planning, it is possible to create a strong position from a small amount. Even if it is not possible for someone to invest $50 per week, then even if he starts with $10 per week according to his convenience, it is not bad to start, if it comes from his discretionary income and is part of a long-term plan. The main thing here is not the amount the main thing is the plan. If someone invests a large amount and cannot hold it for a long time, then that large amount can cause big losses for him. So if someone comes to invest in Bitcoin, he should start according to proper planning.

[justdimin]

A person will not have a discretionary income or discretionary funds without perfect or near-perfect financial conditions. You can't expect someone to cut down their expenses, compromise on basic necessities, and invest into Bitcoin from what they can save after all the struggles. That's not how it works and that's not what a person should be doing either. Someone who isn't able to save money in general because of financial restraints is not supposed to be making investments because they technically and logically cannot do that, and they are not supposed to compromise on anything just because they have to make investments, because there is a reason why we say that one should only invest discretionary funds.

Someone who is earning well enough, has everything covered, all the financial obligations are fulfilled, have saved enough for emergencies, and then still have discretionary funds at disposal, that is a person who can start making investments into Bitcoin, because the money they are going to invest in it won't be needed at any point in the near future for anything, so they can peacefully invest, and then hold for however long they wish to hold. There is no point in making investments in Bitcoin and then having to sell your assets after a few days because you now need funds for an emergency and you have no other way to solve the problem.

[Webutxo]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation. They may think that the income will be high, the backup fund will be fully prepared, there will be no debt, the monthly expenses will be completely stable, and then they will think about starting Bitcoin accumulation . But people's lives may never be perfect. And there is no rule that you have to invest a very large amount from the first day when investing in Bitcoin. It is possible to regularly DCA in Bitcoin with a small amount according to discretionary income and cash flow.

This advise is for a person that is earning well and have money to spare for investment, as much as I will like to see everyone buy Bitcoin, I will like to see people in good condition. If you are not financially stable, go and fix your life before you want to buy Bitcoin. It you don't buy today you will be able to buy tomorrow. It's not like because you skip the market for the year you will not be able to buy this year, some people that didn't buy last year had it today and cheaper.

But yes, backup fund is important. So an investor who is building a backup fund should start working immediately after doing DCA. The bottom line is that responsible behavior often does not wait for perfect financial conditions. Being responsible does not mean waiting until everything is perfect. It is actually right to start small by understanding your capabilities and at the same time strengthen your financial system.  You do not have to be rich to start your Bitcoin journey. However, you should keep in mind that you should not invest in Bitcoin in an over aggressively .

If you are earning enough money and you know that you are financially able to buy Bitcoin, even if you don't buy everything at once, you can buy it gradually with DCA, this makes more sense if you are balance and stable. If you are not financially stable, even if you use all the strategies in further mathematics to buy the coin, you will sell it when you are later financially pressure. Better be ready and stable than buy now and sell later at loss.

[henmark]

That's the reason why there are different strategies that can be used most especially the DCA, this works for those that are small investors, the excuse of not having enough Capital would not be made. Waiting for the perfect condition to invest in Bitcoin is going to be a huge delay to your progress. Buying Bitcoin is not really rocket science like the way some people think it is, this can actually be made very simple.

I think it's not the complexity of the process that causes a delay, but it's the unavailability of funds or resources that causes it. A lot of people say the same thing; people should go with the DCA method, they shouldn't delay their investments in Bitcoin because they are missing out. However, they are not thinking about the fact that a person who doesn't have an income big enough to allow them to make investments, they can't do it, not even using the DCA method, because even with the DCA method, you still need to have some money at hand at the end of the period you have decided for your DCA, but if you aren't able to save anything at all, how can you do it?

Making investments in anything including Bitcoin is only possible for those who make good money, or at least earn enough to have something left at the end of the month so that they can invest it, but those who are already struggling with their finances and aren't able to save any money or even worse, having to take loans to fulfil the basic needs of their family, they can't make investments, and they can't even do a little if that's what we are talking about. Those who earn more money than they generally need are the lucky ones to get to do this easily.

[maydna]

Many people afraid to take the first step to do something so that effect them to delay making decision. They don't learn more but just waiting and not doing anything. That makes them late to start investing and if they don't realize, they will be too late especially if the price start increases.

If they learn more, they will know DCA and that can be their way to starts because DCA works for all people who have various income amounts so they can adjust their income and allocating money to invests. If they can set the income and gives some portion to the Bitcoin investment, they will not have to worry and not waiting for too long to starts.

While they start investing, they will see if they need to adjust the strategy of using DCA or they can continue accumulating. So investing using small money is enough while they learning managing their income and gives more portion to Bitcoin investment.

[Issa56]

The thought that one need to have large amount of money before buying Bitcoin is mostly common among newbies. Those that started buying with less than $50 weekly over the last two years will look back at their portfolios now and happily smile at their decision to start small.

Some people will say they want to be financially stable before they start investing in bitcoin, some of them don’t always take bitcoin investment serious, so they not just so serious about starting bitcoin investment journey.

If you have taken your time to learn about bitcoin investment, then you should know that you don’t have to buy 1 bitcoin, you can invest any amount of money you have. If I want to introduce anyone to bitcoin investment, I always encourage them to take their time to do some research also, I do make sure I tell them everything they have to know, I won’t advise anyone to invest blindly. Anyone that have then their time to read about bitcoin will know you can invest any amount you have.

You can be building your emergency fund while also accumulating Bitcoin, it's very possible with proper budgeting.

Everything is all about proper planning, if you can properly plan yourself, then you will be able to achieve that. If you are waiting for things to be stable before you start investing, you are just delaying your bitcoin investment journey.

[Itz-prisigold]

Many people afraid to take the first step to do something so that effect them to delay making decision. They don't learn more but just waiting and not doing anything. That makes them late to start investing and if they don't realize, they will be too late especially if the price start increases.

I understand that waiting too long can lead to missing opportunities,  but I think it's not okay for you to say that a person is too late to invest in Bitcoin just because the price is up.  It will depend on how long the individual plan to hold he's or her Bitcoin. In my opinion, the key is to establish the habit of consistent buying Bitcoin with your discretionary income, and not putting your focus in tying to buy Bitcoin at the lowest possible price, and always have a long term mindset.

Personally I believe the greater risk is not starting to invest in Bitcoin because the price has increased.  It's never starting at all, since you're always waiting for the right moment. It's hard to say what the price of Bitcoin will be in the future,  so sticking to a plan is often more important than worrying about whether you have missed the best entry point.

[GeorgeJohn]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation.

The truth is that, most of people who's new in bitcoin doesn't like to invest in bitcoin when the price is falling...they always been triggered to invest in bitcoin when the price is rising..so from my perspective, what i think that makes them to delay to invest in bitcoin is fear of losing after they have invested...

But people's lives may never be perfect. And there is no rule that you have to invest a very large amount from the first day when investing in Bitcoin.

Do you know that they're people who believes in the philosophy of " the higher the amount you invested in bitcoin, the higher the profute you make...And the lower you invested, the lower the profit you make....The best way to invest in bitcoin, is to invest gradually, mostly according your income or a discretionary income....

[G_Besar]

If you are earning enough money and you know that you are financially able to buy Bitcoin, even if you don't buy everything at once, you can buy it gradually with DCA, this makes more sense if you are balance and stable. If you are not financially stable, even if you use all the strategies in further mathematics to buy the coin, you will sell it when you are later financially pressure. Better be ready and stable than buy now and sell later at loss.

I also agree with your point, as those who aren't financially ready should definitely prepare themselves first. Buying Bitcoin for long-term goals, holding it as an investment, clearly requires financial stability, although certain methods shouldn't be neglected when buying Bitcoin or any other asset worth buying now. Anyone who sells at a loss due to pressing life needs will be less motivated to buy again in the future. Therefore, it's clear that anyone who wants to invest in Bitcoin must have several preparations, primarily the readiness to use their own income for this purpose.

[Biggeno]

Well, its true that waiting for that perfect financial condition will only delay your bitcoin progress, but let's be also realistic that if you enter bitcoin investment financially unprepared and emergency funds are not intact yet, that will only make you more greedy to invest in leverage and expect quick financial returns. And when expectations aren't met, you end up resorting into panic selling to prevent yourself from further losses.

But if you invest when finances are great, then most likely you don't invest for fast profits but for future retirement, and you can easily stick with regular DCAing despite an unfavorable market simply because you don't get easily affected with the price fluctuations and price consistently dropping its value.

I think if a guy goes into Bitcoin investment with the right orientation there are some apparent mistakes you don’t find your self involved in. Note, I’m not saying a guy should take all the time in the world to learn about Bitcoin before kick starting his investment, at most learning the basics firstly should do. Even for someone who is not financially buoyant but have the determination to go into Bitcoin investment can actually do that progressively as long as he is able to sort out his discretionary fund.

Secondly, while starting up as newbie, to some extent you give more priority to building up your emergency fund along side your weekly or monthly Bitcoin accumulation, you don’t go all in with the amount of discretionary fund you’re able to sort out for the week just for adding to your stash, rather allocating some percentage to your Bitcoin investment, emergency fund and/or backup fund and lastly your discretionary consumption should be nice way to go about it.

As a newbie, it’s not because you’re seeing others invest aggressively you should follow up in that manner, to them, it might be spare cash, but to you it might seem they’re investing aggressively rather they’re doing that at their own financial capacity and at their level of conviction in Bitcoin. If you follow up in that manner it won’t be long before you end up selling your bitcoin. Rather, their aggressiveness as you may perceive and consistency should be a form of motivation to you to build yourself while accumulating at your own pace. But for someone who is not able to get their daily needs sorted out talk more of getting a discretionary fund, you don’t have to bother about investing in Bitcoin yet, until you’re able to get your shit together.

[Decimetre]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation. They may think that the income will be high, the backup fund will be fully prepared, there will be no debt, the monthly expenses will be completely stable, and then they will think about starting Bitcoin accumulation . But people's lives may never be perfect. And there is no rule that you have to invest a very large amount from the first day when investing in Bitcoin. It is possible to regularly DCA in Bitcoin with a small amount according to discretionary income and cash flow.

This advise is for a person that is earning well and have money to spare for investment, as much as I will like to see everyone buy Bitcoin, I will like to see people in good condition. If you are not financially stable, go and fix your life before you want to buy Bitcoin. It you don't buy today you will be able to buy tomorrow. It's not like because you skip the market for the year you will not be able to buy this year, some people that didn't buy last year had it today and cheaper.

But yes, backup fund is important. So an investor who is building a backup fund should start working immediately after doing DCA. The bottom line is that responsible behavior often does not wait for perfect financial conditions. Being responsible does not mean waiting until everything is perfect. It is actually right to start small by understanding your capabilities and at the same time strengthen your financial system.  You do not have to be rich to start your Bitcoin journey. However, you should keep in mind that you should not invest in Bitcoin in an over aggressively .

If you are earning enough money and you know that you are financially able to buy Bitcoin, even if you don't buy everything at once, you can buy it gradually with DCA, this makes more sense if you are balance and stable. If you are not financially stable, even if you use all the strategies in further mathematics to buy the coin, you will sell it when you are later financially pressure. Better be ready and stable than buy now and sell later at loss.

Firstly, it is not a good idea to wait until you can be able to buy 1 bitcoin before you can be able to start because the good thing about bitcoin is that you can actually buy as low as any amount you can afford even as low as $2. So yes, you don't have to wait until you can be able to buy 1 bitcoin to be able to start investing in bitcoin.

Secondly, waiting until you are "financially stable" before you can start buying bitcoin, that means you may never buy bitcoin too because you will hardly convince yourself that you have become financially stable. Instead, you need to be "financially disciplined" to be able to get started in bitcoin. Financial discipline allows you to figure out your discretionary income even when you are not earning a very large amount of money. This allows you to understand that investors are not those that have made all the money they want, investors are the ones who are willing to build for the future regardless of how much income they earn.

Financial stability does not guarantee success in bitcoin investment, financial discipline does it better.

[Bd officer]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation.

In fact, if someone is not able to invest in Bitcoin, then it is not bad for them to wait. Experienced people recommend investing with discretionary income, now there are many people who do not have discretionary income, so should they invest? Of course, they should focus on improving their financial situation. But for those who have enough money to invest, waiting is not a good decision.

You are right. many new investors think that since the price of Bitcoin has become very high, it may not be possible to invest without a large amount of money.

This is normal for newbies. Personally, when I first learned about Bitcoin, I also thought that I would have to buy 1 Bitcoin. But later I understood the issue and started with maybe $100. So beginners should gain the right knowledge and understand that everyone has the opportunity to invest according to their ability.

[Big Dirams]

This is normal for newbies. Personally, when I first learned about Bitcoin, I also thought that I would have to buy 1 Bitcoin. But later I understood the issue and started with maybe $100. So beginners should gain the right knowledge and understand that everyone has the opportunity to invest according to their ability.

That right many new beginners into the system always thought as much as that because they have no knowledge or little knowledge of how things work in the system so they always thoughts it is a most to buy a whole one bitcoin before they could start their journey and easily got discouraged and end up not investing. But the whole system isn’t that way because not everyone is rich or could afford such huge amount of money.

This is one of the  reason why it is advisable as a new investor who have interest in investing in bitcoin, they should always have the basic knowledge and understanding of how the market operates and not just go into things blindly without any knowledge at all.

[WatChe]

I also agree with your point, as those who aren't financially ready should definitely prepare themselves first. Buying Bitcoin for long-term goals, holding it as an investment, clearly requires financial stability, although certain methods shouldn't be neglected when buying Bitcoin or any other asset worth buying now. Anyone who sells at a loss due to pressing life needs will be less motivated to buy again in the future. Therefore, it's clear that anyone who wants to invest in Bitcoin must have several preparations, primarily the readiness to use their own income for this purpose.

I think anyone who is new to Bitcoin must invest in Bitcoin with whatever he can easily invest because there are many things we learn only when we start investing in Bitcoin. If someone is new to Bitcoin and he keep himself preparing by listening to advice of different people then he will never be able to start investing in Bitcoin. If you have invested money in Bitcoin only then you will take that investment seriously and will do the hard work of learning it.

[Rockstarguy]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation. They may think that the income will be high, the backup fund will be fully prepared, there will be no debt, the monthly expenses will be completely stable, and then they will think about starting Bitcoin accumulation . But people's lives may never be perfect. And there is no rule that you have to invest a very large amount from the first day when investing in Bitcoin. It is possible to regularly DCA in Bitcoin with a small amount according to discretionary income and cash flow.

Having an increase in income doesn't stop the demand for money, and if, because of expenses, one has decided not to invest in Bitcoin, there are chances that if income increases, they may still not want to invest in Bitcoin because the expenses have increased and are not the same as before.

Investing in Bitcoin is not about how much one has; it is about understanding and investing an amount one can afford to lose. Most people who have a waiting mindset don’t even do their research to know the implications of waiting. For most people, they end up not investing at all because, at a given time, they start thinking that the opportunity to invest in Bitcoin has already passed.

[citywise2]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation. They may think that the income will be high, the backup fund will be fully prepared, there will be no debt, the monthly expenses will be completely stable, and then they will think about starting Bitcoin accumulation . But people's lives may never be perfect. And there is no rule that you have to invest a very large amount from the first day when investing in Bitcoin. It is possible to regularly DCA in Bitcoin with a small amount according to discretionary income and cash flow.

If you intend on doing DCA, the right time to start is right away! Waiting for a perfect financial situation can be same as whistling for the moon, because the financial situation can hardly be perfect. Be sure to first get adequate knowledge of what you are about to dive into - the crypto market can be very volatile, before you dive in. And don't sell your farm to invest in crypto because it can have a prolonged downtime beyond your expectation.

[Achalugo BTC]

I understand that waiting too long can lead to missing opportunities,  but I think it's not okay for you to say that a person is too late to invest in Bitcoin just because the price is up.  It will depend on how long the individual plan to hold he's or her Bitcoin. In my opinion, the key is to establish the habit of consistent buying Bitcoin with your discretionary income, and not putting your focus in tying to buy Bitcoin at the lowest possible price, and always have a long term mindset.

Personally I believe the greater risk is not starting to invest in Bitcoin because the price has increased.  It's never starting at all, since you're always waiting for the right moment. It's hard to say what the price of Bitcoin will be in the future,  so sticking to a plan is often more important than worrying about whether you have missed the best entry point.

Well said mate, it doesn't matter if one is late or not, as long as they have everything to continue their accumulation journey, because one can still decide to start early and end up losing everything. That's why, having the right mindset will make one consistent and focusing on achieving their goal regardless if the price rises or dips, also the idea of using discretionary income will be helpful if one adheres to it. Overall, being aware that the market is volatile is the most essential thing to remember, as they ought to use what they can comfortably lose.