Waiting for perfect financial condition can delay Bitcoin journey

[Ziskinberg]

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.

Investing in bitcoin does not require a massive amount of purchase to start the investment, but it only needs a minimal one, so I think the idea of waiting for the perfect financial condition is just another reason or excuse to delay the investment and miss the opportunities. When any investor can start buying through DCA and grow his portfolio overtime, regardless if the market is bullish or bearish.

However, I would still suggest to enter the market when it is bearish to maximize bitcoin purchase, but its not actually a compulsory for every investor. They can enter the market and invest into bitcoin anytime as long as they're able and capable.

[SPIDERMAN008]

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.

Consistency in investing in Bitcoin helps create a strong holding. But the right mindset alone is not enough to consistently DCA. Depending on investor  financial situation, one can determine how consistent  DCA will be. However, by giving so much importance on consistency, one should not DCA with the required amount of money if  financial situation is not good in a given week or month. It is true that for a late starter, it is more fruitful to start realistically from the current position than to regret the low price of the past. Therefore, successful accumulation is not just a matter of starting early or having a positive mindset. In investing in Bitcoin, the amount with which one can DCA for a long time should be continued accordingly.

[Compromise me]

When procrastination is for money reasons, you will wait for the right time. Those who began with $20-$50 a month years ago and have never looked back are in much better situation than those who waited for the right time.

​Valid emergency fund point here, regular buying and emergency savings is not impossible to do together. You can do both at same time, and it can certainly be done if you are on budget. Too aggressive warning is also issue. Seen many people "all in" on stock right before major price drop and panic selling.

If price drop and you panic sell means you bought it for quick money . And that's some piece of advice you gave don't go all in at once , don't wait invest small every week, month or timeframe which suits you best. And by keeping it small it reduces stress but at some point we humans attach our emotions to assets like buying every month gives us hope of survival, a little bit happiness  that at least i have something but at some point compared to day trading you are right it's less stressful and if we can wait it is going to make us alot.

[Sonia_123]

There is no perfect financial condition that one will want to wait for before starting an investment as a newbie all you have to do is to start with your discretionary income in as much as your discretionary income is available then you start because you don't need to wait for large funds before investing or waiting for your expenses to reduce monthly before you start investing in bitcoin because life goes on and we encounter more expenses and challenges so no matter how little your discretionary income maybe you can start and adopt the dca strategy to help you out whenever you are ready to accumulate.

[Rubuchi]

If price drop and you panic sell means you bought it for quick money . And that's some piece of advice you gave don't go all in at once , don't wait invest small every week, month or timeframe which suits you best. And by keeping it small it reduces stress but at some point we humans attach our emotions to assets like buying every month gives us hope of survival, a little bit happiness  that at least i have something but at some point compared to day trading you are right it's less stressful and if we can wait it is going to make us alot.

when the prices drops, fear takes over and they begin to sell at a loss only to regret it later when the market recovers. This is how you know the mindset somebody uses to start an investment which is very bad. When the mindset is to chase quick money from of the market, it becomes easier for you to panic sell and you immediately get emotionally attached to your investment. Whether your bitcoin investment is growing or it is declining, you have to make up your mind which should be guided by your long term plan and not just emotions. I like the advice you gave about starting with small and regular purchases instead waiting until you have a large amount of money before investing or trying to target the perfect financial condition which may never come.

[Peanutswar]

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.

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 .

Can't blame them because it depends on the economic status they have right now, others really suffer for financial problem, so they need to prioritize things and sometimes they dont have even small amount to set a side just to buy bitcoin even the smallest one for their DCA journey. But regards with the investment in bitcoin is not much rush sometimes us we wanted to push others to make an investment because we have seen a potential and we just wanted to help them to be with us in crypto but people have different perspective in life so we can't push then out to invest.

But if you kind of person who have capability id rather to recommend grab the opportunity even now we are in the bear season couple of years after halving again we will seen the new ATH.

[Out of mind]

Investing in Bitcoin does not require a large capital, but if someone tries to maintain the investment according to a plan for a long time, then he will definitely be successful. Investing in Bitcoin, DCA is a really great method that reduces the risk of every investor and gives hope for future profits. Emergency fund is very important in investment, but when a person continues his investment, he will do DCA with a small amount of money and he will keep depositing some money. When a person continues his investment through DCA with a small amount of money, he will definitely keep saving some money to create an emergency fund. If someone is interested in investing in Bitcoin in such a way and can collect a large fund in the future, then he will definitely be able to profit. To start the Bitcoin journey, you must first prepare yourself well and later invest according to your financial condition. Gradually, you will definitely have a lot of experience in investing. Of course, you should not invest with excessive pressure, but it is best to invest according to your ability.

[Nathrixxx]

People will always claim to you that they are waiting for the perfect time to be able to buy on Bitcoin, whereas there is not going to be a perfect time except when we think we are fully ready for it, this beer season is another opportunity to invest in Bitcoin if we are truly planning ahead of the bull season, when we buy now and hold, it will be of better advantage for us than when the market is already rising because we are still in the dip.

[justdimin]

Investing in Bitcoin does not require a large capital, but if someone tries to maintain the investment according to a plan for a long time, then he will definitely be successful. Investing in Bitcoin, DCA is a really great method that reduces the risk of every investor and gives hope for future profits. Emergency fund is very important in investment, but when a person continues his investment, he will do DCA with a small amount of money and he will keep depositing some money. When a person continues his investment through DCA with a small amount of money, he will definitely keep saving some money to create an emergency fund.

It's actually not about the investment strategy or anything, it's about the availability of funds and resources, and the inflow as well. A person who doesn't have a very good inflow of funds, which means that the amount of money that they earn isn't enough for them to take care of their expenses, save money for emergencies, and then make investments as well, because among these three things, the first two are more important than the third one, because it's not logical for someone to invest money in Bitcoin or cryptocurrencies but then have no savings for emergencies at all, you have to thing about these things first and then if you have extra, then you can go for investments.

So I actually don't agree that investing small amounts while you don't have any emergency funds is a great idea, because instead of investing those small amounts in Bitcoin, the person should save it so that they can use it when they face an emergency, because even if you invest it in Bitcoin, you will have to sell your assets in case of an emergency, so there is basically no point. Investments should be done only when a person has extra funds that they don't need or won't need in the near future as well.

[KiaKia]

Can we blame people who want to be financially stable before investing? The goal is to be comfortable at first not to get rich so there is nothing wrong such such plan, atleast they will have something to fall back on when things go badly.

Unlike me, I was a rebel with investment, I had nothing and every scraps that I could find is going into Bitcoin, I went on for months eating too less foods, and putting myself under stres, it turned out well for me but this is ME.

I can't advise anyone to walk the same path as I did, life wasn't even this hard at the time compare to today, it will be 10 times harder to go with such method today, better to get some money flowing in first before you think about investing.

[SOKO-DEKE]

Nothing is wrong with someone trying to wait for the perfect financial condition to start their Bitcoin journey. I know trying to wait may cause some little delay, but the fact is that it is better to delay than to make a wrong decision and regret it later.There are some sets of people that start their Bitcoin journey in a tight financial situation and end up selling at the wrong time or even losing more. what I will just say is that everyone perfect financial condition may be different.For some people, waiting means waiting to get out of the challenges they may be facing at that particular time. For others, perfect financial condition means having a lot of money in their account before thinking of starting.to this kind of person, I would advise that waiting to gather a lot before starting may mean missing opportunities. As long as someone is always left with discretionary funds, even if it is not much, they can definitely start.In fact, as a newbie, they don’t even need to invest much at first because they are less experienced.

[Z_MBFM]

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.

We can easily say that DCA is easy, anyone can own a good amount of Bitcoin and the risk will be reduced, but the thing is that when you earn such an amount that you are not fully able to support your family, then investing $ 1 will be challenging and in that situation you will not want to take the risk of $ 1. That is why it is easy to invest in Bitcoin and it is easy to make a profit by investing in the long term from now on, but not everyone has the ability to invest in Bitcoin.

Another person's nature is that he trusts more in Fiat money and wants to hold Fiat money. In that case, his plan will be to save a large amount of money as a backup and then he will invest. This kind of attitude, which includes that even if he has a large amount of money, he will not be able to invest in Bitcoin. Different people think differently from different situations, that's why even though Bitcoin investment is easy, it is still difficult for many.

[boyptc]

A responsible and strategical investor will maximize the little that they have. And so, with little amount to DCA that's where they or should I say we become consistent with it.

We don't look at the instant huge capital because if we only have enough to invest with then we have that confidence of putting large sums.

But no, situations are different for everyone and consistency beats all of those who have a lot but are too emotional and confused when to buy and continues to wait if it's the right time to buy.

[snowpega]

<-snip->

I have been in such a condition when I used to think the same that to start my journey in Bitcoin, I need to have big funds.
But with the passage of time, I learnt and improved. My message now is that we should keep accumulating with our spare money, even if it is very little money and should use the DCA strategy for this. Just stay intact with you bitcoin accmulation plan. Because all the time you do not stay in the same financial condition. With time, you get good opportunities, and then your financial condition also improves.

And at that time we can buy as much as we want or can afford, right? Remember, start from little, but the end can be better or bigger.
You need to trust the process because such things take time so that you can see things more clearly, standing at the best verge of your life. Other than this, this is my point of view, not any advice, because things are different in everyone's life, and you should step forward accordingly according to your own life scenario. DYOR!

[Faisal2202]

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 .

Well said. We do not wait for the perfect opportunity, we enter and make our opportunity perfect, because trying and making things right is how we can make money if that's our purpose.

DCA is best for everyone. It does not matter how much you make, you can do it. Some people think it is just three words to maintain the average buying, which is true, but what they don't understand is how profitable and stress-free it can be. First, realize it is not a scheme to get rich overnight. There are basically three kinds of people at the start: one who has a lot of money but chooses to mine instead of investing in BTC directly, the second who invests in BTC, and then the third are people like me who have less money, so they can't start mining, but they can start investing. But they should at least understand that they won't make money over a month or a year. They need to hold their funds for at least a decade to make a good profit.

[Freeveto]

Can we blame people who want to be financially stable before investing? The goal is to be comfortable at first not to get rich so there is nothing wrong such such plan, atleast they will have something to fall back on when things go badly.

Unlike me, I was a rebel with investment, I had nothing and every scraps that I could find is going into Bitcoin, I went on for months eating too less foods, and putting myself under stres, it turned out well for me but this is ME.

I can't advise anyone to walk the same path as I did, life wasn't even this hard at the time compare to today, it will be 10 times harder to go with such method today, better to get some money flowing in first before you think about investing.

I think financial stability is important before you can start to think of investment; some of us thinks you need to have enough start not knowing that enough may not come at once, so as long as you are able to feed and care for your needs, you can use any spare money you have to invest. Inconveniencing yourself for your future is good, I don’t mean you should not take good care of yourself, but if you didn’t minimize what you earn to have something saved for you your future, you may end up not having anything for life due to inflation and how things are going; therefore, if you have sources of income, salary; you can start with any amount and be consistent, after some times, you will see how far you have gone with little money you underrated.

[SPIDERMAN008]

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.

We can easily say that DCA is easy, anyone can own a good amount of Bitcoin and the risk will be reduced, but the thing is that when you earn such an amount that you are not fully able to support your family, then investing $ 1 will be challenging and in that situation you will not want to take the risk of $ 1. That is why it is easy to invest in Bitcoin and it is easy to make a profit by investing in the long term from now on, but not everyone has the ability to invest in Bitcoin.

Another person's nature is that he trusts more in Fiat money and wants to hold Fiat money. In that case, his plan will be to save a large amount of money as a backup and then he will invest. This kind of attitude, which includes that even if he has a large amount of money, he will not be able to invest in Bitcoin. Different people think differently from different situations, that's why even though Bitcoin investment is easy, it is still difficult for many.

It is true that everyone's income situation is not same. Again, not everyone can trust bitcoin. Now if someone does not have discretionary income, then there is no need to invest in bitcoin. Again, someone has discretionary income but does not trust bitcoin that much. He prefers to keep fiat savings, so he will not invest in bitcoin. So in his case, the question of whether investing in bitcoin is difficult or easy will not arise. And it is easy to start bitcoin, but if someone does not take it easy and makes it difficult, then it will be a loss for him. Now if someone has extra money outside of expenses, even if that amount is very small, there is no problem. He can easily invest in bitcoin. But if someone does not have extra money. And he buys bitcoin with the required money and wants a lot of profit in a short time, then it will be difficult and risky for him and he can easily face losses .