Most people are playing the wrong Bitcoin game

[Youngrebel]

I have the same thoughts as you. If your bitcoin is the last asset you have to just to survive this world, why wouldn't you sell it? We invest to make profit but it doesn't mean we can't sell on a loss. If the reason is very strong like life threatening, majority of the people would sell. You can't bring bitcoins to the grave.

Holding bitcoin and accumulating bitcoin for the sake of profit is ok, it is the reason of the majorty why they hold but there are times that we need to sell at a loss.

There is actually a very big difference between holding Bitcoin with a long term investment plan and holding it blindly even when your survival is at stake and the difference is actually clear, if selling at a loss is what helps you pay for an emergency food, or another on important things at that moment, then protecting your life and well being should come before protecting an investment because Na who dey alive dey invest and to me bitcoin is an asset and not something we should sacrifice our entire lives for, the main aim of investing is make or rather upgrade our financial situation, so if circumstances change, there is nothing wrong with adjusting the plan.

[Hyphen(-)]

There is actually a very big difference between holding Bitcoin with a long term investment plan and holding it blindly even when your survival is at stake and the difference is actually clear, if selling at a loss is what helps you pay for an emergency food, or another on important things at that moment, then protecting your life and well being should come before protecting an investment because Na who dey alive dey invest and to me bitcoin is an asset and not something we should sacrifice our entire lives for, the main aim of investing is make or rather upgrade our financial situation, so if circumstances change, there is nothing wrong with adjusting the plan.

I think we are supposed to have emergency funds for our emergency, if we actually have good plan, the emergency fund should help, but in a situation where the emergency fund is not more available, the best thing to actually do is to find another means which can be touching your Bitcoin holdings if what you are supposed to use it for is really important, but you will have to buy back once you have another means regardless of the price since you also sold without considering the price just to make sure you cover your needs. There is no reason for leaving your Bitcoin holdings to borrow money or suffer because if there is life, there is hope, you can make more money and buy more.

[Compromise me]

I think we are supposed to have emergency funds for our emergency, if we actually have good plan, the emergency fund should help, but in a situation where the emergency fund is not more available, the best thing to actually do is to find another means which can be touching your Bitcoin holdings if what you are supposed to use it for is really important, but you will have to buy back once you have another means regardless of the price since you also sold without considering the price just to make sure you cover your needs. There is no reason for leaving your Bitcoin holdings to borrow money or suffer because if there is life, there is hope, you can make more money and buy more.

This always apply in every investment of saving if you are not having emergency funds its mean you are no going to be have enough space for securing your savings in long run before entry always have your all set because without having any strategy doing saving or investment will give you problems or even sometime this can ruin your all saving.

Peoples those are doing with their salary or other sources they always needs to work on their strategy because its always important part of investment good financial plan should always include some flexibility to handle unexpected situations needs to have something which give you relief in long run keep yourself ready emergencies and other things if you want to have benefit from your saving or investment playing right always give good results while having any mistake can things problematic.

[Faisal2202]

Yeah, I also agree with you at this point because literally I was just discussing the same thing a while ago on another forum. And according to my personal point of view, we are right now stuck in a double-minded situation where taking any big action is really worthy and the result of any big action can be bad or wrong depending on the situation of the bitcoin market in the coming days. But if you are the person who is the horse of long term race, then accumulating little by little using the DCA strategy can be a way more helpful thing than one can think, right?

Let's just suppose that anyone who is earning $100 a month (suppose, right?) so according to my personal point of view on should invest $60 using the DCA strategy and save the other $40 in the form of USDT so that, in case the market makes any correction, then one can buy more to make one's average buying better. Well, this is my point of view. What do you think about it?

Let's make it more clear by calling discretionary income, not earning. Because if I am earning $100 a month I won't be able to survive with my current expenditures. So I need at least $300, so whatever I make after $300 is my discretionary income if I exclude the emergency funds from the equation otherwise people include their emergency funds and then the amount they are left with is discretionary for them.

If I have $100 in discretionary income, I will invest it all in BTC, I don't care about the stablecoins, because I am the horse of long track, I know whatever I will invest now will bring profit for me, I just have to maintain my emergency funds and daily expenses. Emergency funds are important because if I lose my job, I need $300 per month in backup and experts say you should have 6 months of funds in your backup as emergency, the more is better.

So, DCA is the best strategy brother and I only use it, I will recommend anyone to do it because it has no side effects in the long run.

[Jubilee58]

When it comes to Bitcoin investing, timing the Bitcoin market will do you more harm than good as an investor, and this is an attitude mostly exhibited by novis who are coming into Bitcoin investing without proper orientation. Timing the Bitcoin market can be so boring because it makes you to be regularly checking the price of Bitcoin so that you can buy at the bottom or the price that is very well comfortable with you. You will never get it right this way, and even when you eventually buy, holding for long term could be a problem for such investors. Investors who are always monitoring the price of Bitcoin hardly succeed to make good profit from Bitcoin because each the price of Bitcoin dips even a little, they feel they have made losses, and will either sell or convert their Bitcoin to another altcoin and still continue in making further loses.

[snowpega]

Let's make it more clear by calling discretionary income, not earning. Because if I am earning $100 a month I won't be able to survive with my current expenditures. So I need at least $300, so whatever I make after $300 is my discretionary income if I exclude the emergency funds from the equation otherwise people include their emergency funds and then the amount they are left with is discretionary for them.

If I have $100 in discretionary income, I will invest it all in BTC, I don't care about the stablecoins, because I am the horse of long track, I know whatever I will invest now will bring profit for me, I just have to maintain my emergency funds and daily expenses. Emergency funds are important because if I lose my job, I need $300 per month in backup and experts say you should have 6 months of funds in your backup as emergency, the more is better.

So, DCA is the best strategy brother and I only use it, I will recommend anyone to do it because it has no side effects in the long run.

Mate, I think you haven't got my sayings correctly.
Whatever the amount, I supposed aforementioned that was just a supposed one, not what you and me is earing on a monthly basis, right? We both have to find a way to fit ourselves according to the supposed amount to understand what I was saying in my previous post. Maybe one can earn $1000 a month; then, according to that, he can manage all his expenses accordingly, right?

So investing in the time in which we are living is more crucial for a better future, as the way inflation rates are increasing; I doubt it; this is a sign towards a disastrous future. This is why we should be prepared for every possible situation. Aside from this, mate, no worry; my strategy matches with yours, as I also stay more intact with my long-term plan using the DCA strategy.

[Pandorak]

When it comes to Bitcoin investing, timing the Bitcoin market will do you more harm than good as an investor, and this is an attitude mostly exhibited by novis who are coming into Bitcoin investing without proper orientation. Timing the Bitcoin market can be so boring because it makes you to be regularly checking the price of Bitcoin so that you can buy at the bottom or the price that is very well comfortable with you. You will never get it right this way, and even when you eventually buy, holding for long term could be a problem for such investors.

For a true investor, Waiting for the market to drop in order to make purchases in stages is just a waste of time, because their focus is on the long term, perhaps the next 4 to 10 years, depending on their individual goals. Therefore, the current volatility means nothing, it only affects traders, not investors.

Investors who are always monitoring the price of Bitcoin hardly succeed to make good profit from Bitcoin because each the price of Bitcoin dips even a little, they feel they have made losses, and will either sell or convert their Bitcoin to another altcoin and still continue in making further loses.

I call them investors with a trader’s mindset. When you decide to become an investor, you must have a strong mentality and a steady hand. Because before your portfolio turns green, it will often turn red first, in which case you’ll see a decline that may be quite significant, often exceeding 50%. If you don’t have a strong mentality, you’ll only end up with losses.

[EstherBtc]

Most times bitcoin beats down predictions,and charts. The best thing any investor can do is just to invest in bitcoin for the long term, if not one would end up having health complications. Invest with knowledge, don't join a trend you don't understand.

[gwestcot]

Bitcoin wasn't intended to be an investment at all but rather a revolution. Instead, it has turned into a collectible Beanie Baby. The economics are so clearly misaligned for actual day-to-day use. We will be dead before Bitcoin ever gains mass adoption and real-world usage for its intended purpose as digital cash.

[PERtua]

When it comes to Bitcoin investing, timing the Bitcoin market will do you more harm than good as an investor, and this is an attitude mostly exhibited by novis who are coming into Bitcoin investing without proper orientation. Timing the Bitcoin market can be so boring because it makes you to be regularly checking the price of Bitcoin so that you can buy at the bottom or the price that is very well comfortable with you. You will never get it right this way, and even when you eventually buy, holding for long term could be a problem for such investors. Investors who are always monitoring the price of Bitcoin hardly succeed to make good profit from Bitcoin because each the price of Bitcoin dips even a little, they feel they have made losses, and will either sell or convert their Bitcoin to another altcoin and still continue in making further loses.

I agree that being constantly on the lookout for Bitcoin has the potential to make investing more difficult than it should be. People often get caught up in finding the right place to enter. That they don't think about the bigger picture. Predictability is not the name of the game with Bitcoin. So even seasoned traders can end up with misjudgments. If you are a long-term investor. Having a strategy and being able to deal with short term fluctuations could be more significant than constantly watching the price. Buying and holding isn't a strategy that always works. Though, as investors must also be aware of the dangers and equipped to deal with significant market fluctuations. To me the actual error is letting each day's price swing of Bitcoin dictate your investment choices.

[Agbe]

The game is already there and the ball is rolling and now then to enter the game and catch up the ball is the issue at all time. And because this nature of confusion DCA was introduced to invest in bitcoin in which, you can enter the the market at anytime and don't check up the chart but double down (invest) whenever you have funds to top up the investment. And for doing that, you will always have a  good investment and all you have to do is to keep records of your purchase bitcoins.

[oll]

Most people are trying to time the top or bottom of Bitcoin .
Honestly ? This ( Best strategy ) has always been the most boring one : All we have to do is stack sats then log off .
We have to stop checking the charts every five minutes , Our future will thank us for the peace of mind.
Agree ?

Not everyone can devote a lot of time to studying Bitcoin price charts, not to mention the fact that you also need to understand, of course, their meaning. That’s why many threads recommend using DCA, and I believe it’s a great strategy because it saves time and there’s practically no need to think - you just need to accumulate Bitcoin at regular intervals and, if possible, in equal portions. That’s why I consider DCA to be ideal, and I often see that it’s praised by very experienced and thoughtful investors. And this strategy is suitable for absolutely everyone.

[Sterlino]

The game is already there and the ball is rolling and now then to enter the game and catch up the ball is the issue at all time. And because this nature of confusion DCA was introduced to invest in bitcoin in which, you can enter the the market at anytime and don't check up the chart but double down (invest) whenever you have funds to top up the investment. And for doing that, you will always have a  good investment and all you have to do is to keep records of your purchase bitcoins.

Can those who regularly do DCA in bitcoin really control themselves if the price of bitcoin keeps falling? I mean, how much  trust do they have to have in investing in bitcoin? in front of your eyes, the wallet balances are becoming much lower than before. In the case of those who have a lot of holdings, the amount is also much higher. it becomes even more difficult to accept the matter. It may be easy to say the matter, but in reality, what is the mental state of those who are investing at that time? It is necessary to get some idea about that for new.

[Brizi5000]

I have the same thoughts as you. If your bitcoin is the last asset you have to just to survive this world, why wouldn't you sell it? We invest to make profit but it doesn't mean we can't sell on a loss. If the reason is very strong like life threatening, majority of the people would sell. You can't bring bitcoins to the grave.

Holding bitcoin and accumulating bitcoin for the sake of profit is ok, it is the reason of the majorty why they hold but there are times that we need to sell at a loss.

There is actually a very big difference between holding Bitcoin with a long term investment plan and holding it blindly even when your survival is at stake and the difference is actually clear, if selling at a loss is what helps you pay for an emergency food, or another on important things at that moment, then protecting your life and well being should come before protecting an investment because Na who dey alive dey invest and to me bitcoin is an asset and not something we should sacrifice our entire lives for, the main aim of investing is make or rather upgrade our financial situation, so if circumstances change, there is nothing wrong with adjusting the plan.

When you talk about emergency In bitcoin investment I believe that’s one thing every one who’s embarking on a long term bitcoin investment really needs to put into consideration while they’re ongoingly accumulating and holding bitcoin. There’s need to set aside an emergency funds incase of an emergency situation arises so as not to resort into selling off their bitcoin holdings at a loss when in an emergency situation. Except when the situation is beyond the control of the available emergency funds only then can you attempt into selling off the investment. This emergency funds is really important but many bitcoin investors seem to be neglecting its importance to their bitcoin investment. Food is one of the basic needs in life and at such, even before attempting to invest in bitcoin an investor is also supposed to have sort it out and that’s why it’s always advisable to run your bitcoin investment with just a discretionary income. A discretionary income is the amount of cash left with an investor after taking care of his basic needs such as food, rent, clothing and payments of other essential bills and utilities.