Most people are playing the wrong Bitcoin game

[GeorgeJohn]

The plan can be such that whatever happens, you simply forget about the part you invested in BTC. I understand that terrible things happen and that you generally always need money. If something that extreme happens, of course some part of that, let’s say, savings will be used. You have to understand that investing is money you are prepared to lose in some way. You invest without knowing how the price will move, you follow it but you still don’t know. But patience is the key and constant investing will definitely bring some profit.

This is the reason why most of experienced investors says that, it's good to venture into investment with a discretionary income, so that you will not be curious or been disturbed to poll off your investment...

From the initial, it's not a good idea to invest all your capitals, because, investment is a risk and it's not programmed to be profitable always...they're gain and loss into investment, which an investor is not suppose to concentrate and focus only on profit aspects of it...
At least before anyone venture into investment, a research or inquiries should be made, it's one of the ethics of investment...so that the investors will understand the procedures of what it about to embark on....

[Youngrebel]

The plan can be such that whatever happens, you simply forget about the part you invested in BTC. I understand that terrible things happen and that you generally always need money. If something that extreme happens, of course some part of that, let’s say, savings will be used. You have to understand that investing is money you are prepared to lose in some way. You invest without knowing how the price will move, you follow it but you still don’t know. But patience is the key and constant investing will definitely bring some profit.

This is the reason why most of experienced investors says that, it's good to venture into investment with a discretionary income, so that you will not be curious or been disturbed to poll off your investment...

From the initial, it's not a good idea to invest all your capitals, because, investment is a risk and it's not programmed to be profitable always...they're gain and loss into investment, which an investor is not suppose to concentrate and focus only on profit aspects of it...
At least before anyone venture into investment, a research or inquiries should be made, it's one of the ethics of investment...so that the investors will understand the procedures of what it about to embark on....

Investing with discretionary income makes it much easier to stay patient because you are not always worried about needing the money back and one of the biggest mistakes most of us actually make is putting in money thats meant for rent, emergencies, or other important expenses and that’s why I still do tell people around me that want to venture into bitcoin that research and proper understanding should come before investment, because knowing the risks makes it easier to handle both profit and loss without making emotional decisions.

[Altryist]

 Long term investing requires discipline, if you notice that you check the charts very often, then any market movement will affect your decisions. In that case, being a long-term holder will be very difficult because big drawdowns and corrections will make you think about selling or just worry too much about your investments. But if you are disciplined and can buy and wait for as long as necessary, sometimes even for years, then investing in Bitcoin might be right for you.

[liasbaa]

Long term investing requires discipline, if you notice that you check the charts very often, then any market movement will affect your decisions. In that case, being a long-term holder will be very difficult because big drawdowns and corrections will make you think about selling or just worry too much about your investments. But if you are disciplined and can buy and wait for as long as necessary, sometimes even for years, then investing in Bitcoin might be right for you.

This is where the difference between long term investors and traders lies. Traders repeatedly search for prices in the hope of selling or buying at a favorable position. Long term Bitcoin investors are not seen to be very affected by the market price because they buy Bitcoin at every stage. The purpose of reviewing the price chart may be different for investors and traders. Many investors are accumulating Bitcoin regularly and they expect the price to decrease in order to buy Bitcoin at lump sum. If you do not consider a fixed period in Bitcoin accumulation, you may also develop the habit of repeatedly viewing the price chart, you need to consider a specific goal of 4-10 years of regular Bitcoin accumulation

[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 ?

You’re only writing about speculators, and these are people who don’t care about the rules by which Bitcoin operates. Only people who want profit constantly check the Bitcoin‑USD chart. I’m not living in a dream world, and I know that life is boring and bad without money.
But Bitcoin is brilliant from a technical point of view. When I first became interested in blockchain technology, I was primarily interested in looking at it from the perspective of technical aspects: how Satoshi made technical decisions, for example, how he solved the Byzantine Generals’ Problem, used SHA256, and so on. And this is an exciting challenge that was taken on and solved. Oh, it’s a pity that most Bitcoin users can’t appreciate this...

[Jasmyne]

The plan can be such that whatever happens, you simply forget about the part you invested in BTC. I understand that terrible things happen and that you generally always need money. If something that extreme happens, of course some part of that, let’s say, savings will be used. You have to understand that investing is money you are prepared to lose in some way. You invest without knowing how the price will move, you follow it but you still don’t know. But patience is the key and constant investing will definitely bring some profit.

This is the reason why most of experienced investors says that, it's good to venture into investment with a discretionary income, so that you will not be curious or been disturbed to poll off your investment...

From the initial, it's not a good idea to invest all your capitals, because, investment is a risk and it's not programmed to be profitable always...they're gain and loss into investment, which an investor is not suppose to concentrate and focus only on profit aspects of it...
At least before anyone venture into investment, a research or inquiries should be made, it's one of the ethics of investment...so that the investors will understand the procedures of what it about to embark on....

Investing with discretionary income makes it much easier to stay patient because you are not always worried about needing the money back and one of the biggest mistakes most of us actually make is putting in money thats meant for rent, emergencies, or other important expenses and that’s why I still do tell people around me that want to venture into bitcoin that research and proper understanding should come before investment, because knowing the risks makes it easier to handle both profit and loss without making emotional decisions.

Since investing involves risk, risking all you have isn’t advised at all, that why it has always been said so many times that we should always invest with our discretionary funds.
Most persons intending to start investing actually know the meaning of discretionary funds but when they finally buy bitcoin, the money they take out to buy is not actually their discretionary funds which later affects them. Some might actually have extra funds, but that extra funds might also serve to them as money they will need for an emergency or something urgent and maybe not immediately, instead of maybe at least dividing the money to have a separate emergency funds and discretionary fund or as well wait until you comfortable have a discretionary fund to invest with, some persons still go ahead to invest with that money they set aside to use in solving any emergency that might come up because of maybe FOMO and if something important later comes up, they have to withdraw.

[Solodoski]

The main reason for this strategy is the lack of trust in bitcoin and also for those that just want ro make quick profit from their bitcoin investment.  I think this strategy is more risky,  because you might end up losing your bitcoin, because you get scared when their is a dip in the price of bitcoin and that might make you sell at a loss for the fear of not losing it all. I think the best strategy is to accumulate and hold for a long term, because this strategy gives you peace of mind as tough have already mentioned.  It also has a high chance of making good profit from your bitcoin investment.

[Uhwuchukwu53]

You can make wrong decision thinking your in the best track, Bitcoin need right thinking and proper measure, those that consider market dip as not making profit to buy and accoumulate and begin to rush when they see the market coming up will always get it wrong adopting strategy that keeps you been consistent in buy at any regular time helps cut down wrong mistake towards the market because will reduce the risk of fall into FOMO will the market is getting high.

[Renampun]

snip
If you can protect the investments you have already made, do so as best as possible. If it is indeed necessary to sell part or all of it, it must be done for something more important. Nothing is easy in such a situation.

In such a situation, selling your Bitcoin could be a solution that can be taken.. but if possible, only sell as much as you need, no need to sell everything.. and then after the situation is under control, you can consider accumulating Bitcoin again.. anyway, your emergency needs should take priority.. but don't let that cause your investment to stop, it would be a shame if it were like that.. keep accumulating as much as you can to rebuild your investment.

[gracreavix]

There are some few hiccups that need addressing. Doing DCA isn't just automatic for everyone. It's best you choose what's good for you. All we do is advice you on what you can do. Which investment strategy is good. And that is DCAing. Nothing beats that. At the sametime, I am saying that it's good to check others if DCA doesn't fit into you.

[Lexandroove]

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 ?

I agree with the long-term mindset, but the earning potential of Bitcoin is also an aspect not valued anywhere near as much as it should be, especially by long-term holders.

The likes of staking/yield strategies can sound attractive, but they come with additional risks and aren’t native to Bitcoin itself, thereby making holders shy away, which is what the presence of platforms like Babylon Labs has seen reasonable success in helping address: maintaining Bitcoin’s security while bridging it with the flexibility of smart contracts.

For me, accumulating BTC without taking unnecessary risks to generate extra yield, coupled with time in the market, self-custody, and patience, is key.

[GIF-JOBS]

There are some few hiccups that need addressing. Doing DCA isn't just automatic for everyone. It's best you choose what's good for you. All we do is advice you on what you can do. Which investment strategy is good. And that is DCAing. Nothing beats that. At the sametime, I am saying that it's good to check others if DCA doesn't fit into you.

Basically, who will invest with which strategy is a personal matter, because not everyone's situation is the same and not everyone can manage everything equally, and for this reason DCA can be a best investment strategy. But it is not for everyone, the kind of mentality required to use the DCA strategy or the kind of financial situation required or the kind of caution required, is not in everyone, some people cannot manage these things properly, and the DCA strategy is definitely not suitable for them. And at this time they should use a strategy according to their ability, which they can manage properly. You should never do anything beyond your ability and power, you should do what is right for you. DCA is not the only strategy for Bitcoin investment, it is just a good strategy.

[xzy887]

Not everyone has the same talent, knowledge and experience in any subject. When you teach him/her/or learns on your own, someone else will make the same mistake. This cycle will continue.

[ndutndut]

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 ?

Exactly, just like you said. Most people are busy trying to guess the top and bottom of Bitcoin prices especially beginners who still don’t really understand the fundamentals that Bitcoin has. So, they invest just waiting for certain moments. 

In fact, the most effective strategy is actually the simplest even if a bit boring like you said, which is continuously accumulating satoshis using the DCA method. But if done consistently and then stepping away from the account without checking the charts all the time, it’s much better and even more profitable. So, to implement this strategy, we need to start with the right mindset meaning we have to see Bitcoin as a long term asset and not daily speculation so our minds can stay calm. So, the key really lies in having a good mindset and solid knowledge.

[RockBell]

There are some few hiccups that need addressing. Doing DCA isn't just automatic for everyone. It's best you choose what's good for you. All we do is advice you on what you can do. Which investment strategy is good. And that is DCAing. Nothing beats that. At the sametime, I am saying that it's good to check others if DCA doesn't fit into you.

DCA Is not actually automatic and it takes a lot for you to be able manage dca well because most times I feel like a lot of people think when you have discretionary income you are good to go you need more than that you also have to be ready to comit to what you about to get your self I. Because nit every one are able to hold for a long time because is not every one that has that discipline to be consistent and also to be able to manage there resources well because when you tell people about dca they think is easy but when it comes to been consistent because even with your emergency it won't be easy only strong minded people don't need to worry about the money they spend just to accumulate and hold for a long time.

[Nwada001]

Long term investing requires discipline, if you notice that you check the charts very often, then any market movement will affect your decisions. In that case, being a long-term holder will be very difficult because big drawdowns and corrections will make you think about selling or just worry too much about your investments. But if you are disciplined and can buy and wait for as long as necessary, sometimes even for years, then investing in Bitcoin might be right for you.

Someone who can easily be emotionally moved by price is advised to uninstall anything that has to do with and can send price signals to the person to reduce the amount of negative pressure it can put on them that way they can control their self to a certain level and it they really want to hold for longer they can keep their wallet access in a safe place far from them so that they don’t easily access it to sell off.

[Dreadboost]

Investing with discretionary income makes it much easier to stay patient because you are not always worried about needing the money back and one of the biggest mistakes most of us actually make is putting in money thats meant for rent, emergencies, or other important expenses and that’s why I still do tell people around me that want to venture into bitcoin that research and proper understanding should come before investment, because knowing the risks makes it easier to handle both profit and loss without making emotional decisions.

Without having an emergency fund, many investors will be tempted to take part of the investment. Buying bitcoin with discretionary income is not the reason why an investment will be successful. I hope you are aware. Backup funds, which is what we commonly call emergency funds, are very important.

Life throws stones at us when we least expect it. Instead of falling back on our investment to save our head, the purpose of the emergency fund is for times like that when we fall back on it. Anything to allow the investment to continue for the duration we have in mind.

Some folks will rely on the money kept for basic needs to be enough for them. We cannot be too careful.

[terrific]

Agree.
But even you tell that for so many times OP, no one will listen to that who haven't experienced the heavy correction in the market.
If they like to trade, let them trade and to see which one is stressful. Is it by holding or by trading in a day to day basis.
It's normal to trade but I have stopped looking at that in a day to day because it is only causing me more anxiety.
While DCA and holding causes less stress and anxiety which works for me but, I think it's not also for all.

[Rgram]

You can make wrong decision thinking your in the best track, Bitcoin need right thinking and proper measure, those that consider market dip as not making profit to buy and accoumulate and begin to rush when they see the market coming up will always get it wrong adopting strategy that keeps you been consistent in buy at any regular time helps cut down wrong mistake towards the market because will reduce the risk of fall into FOMO will the market is getting high.

Undoubtedly, buying the dip is a strategy while,
Buying when it’s rising as well as, selling when it’s dumping is a rule.

Being profitable always comes down to application which has never being easy. It’s the singular reason why most people resort to holding as, there is no particular way to do it and using the DCA method in accumulating as it gives you the free hand to do as you like so long as, you are judicious in doing so.

No singular individual can be an expert in this field but you can very much be better at applying certain strategies and you’re better safe holding than leveraging too much on a strategy that comes with a great deal of risk.

[tread93]

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 ?

Yeah I agree that you have to stop checking the charts and consuming btc in such a way that it becomes your very identity.... DCA is still the best method just keep stacking sata amd accumulating