Buy Buy Buy or Sell Sell Sell?

[Iamgoat]

We cannot say that trading Bitcoin is not an option that it's a trap, I think that ideology is misleading, what we can say is that trading Bitcoin on the short term is not for everybody because it is volatile therefore risky. There are professional traders that are making profit on the short term, trading is something that requires learning the skills to be profitable and minimize loses. It should be noted that if you don't diligently learn the technicalities and fundamental analysis of trading before engaging in it you're just gambling your funds which is very risky.

Regardless of whether it is misleading or not in fact when we have confidence in investments then I think why trade because it becomes a situation that is not worth it to do.

Indeed, this may be a consideration and choice for some people but by looking at the conditions where many people are ruined because of trading then why do something that leads to a much greater risk when there is a better option which is long-term investment.

The mindset to get profits in a short time and make us rich instantly has always been a difficult thing to avoid but we must realize that to achieve a goal there is certainly a process that we must go through and I think if it is inadequate and only focuses on fomo and is more concerned with instant profits without thinking about the risks (losses) that are likely to occur due to trading then it is clearly not worth it to do.

Bitcoin trading is definitely not a trap but at the same time, it is not for everyone. Anyone who engages in a short term trade, should have it at the back of their minds, it requires serious risk management plans, serious discipline and some serious skills all together.  You don't just go into short term trading when you're not ready to invest enough time into studying charts, understanding the market and controlling your emotions and taking calculated risks. It won't pay you when you don't factor in these efforts and you will just end up gambling instead of trading.

I am also of the opinion that long-term HODLing is a better and safer option for many beginners and others who do not have the patience and cannot easily control their emotions. It aligns more with your wealth building targets and reduces the stress of having to monitor daily market trends and swings. But the real problem lies on when you begin to chase quick profits without learning the basic knowledge to profit making and when you allow the get quick rich mindset to get over you and not really because trading in itself is a bad practice.

I think you don't understand the assumptions I conveyed, because I said for people who have met their accumulation targets it is okay to sell a little bitcoin to enjoy the results. Then about whether someone has reached their bitcoin accumulation target or not after two cycles, I think I have also given that point in my post. Because you need to pay more attention that I only said it was okay to sell a little bitcoin for people who have reached their accumulation target and also have 2 cycles of hodl. So for people who haven't reached the target, definitely don't sell their bitcoin first.

Because basically we have to think more realistically, so enjoying a little profit from investing in bitcoin will not make our bitcoin assets run out. Because I need to emphasize again, I'm not saying sell all the bitcoin, but just a little bit. Because in my personal opinion by enjoying a little result from the bitcoin investment that we have held for 2 cycles will make our minds clearer and motivated again. Because basically we are humans who certainly need to have motivation and need to think more realistically.

I really don't sees it as a bad practice withdrawing some profit from your Bitcoin investment, if you have gotten to that over accumulation status, where the problem lies is selling everything off and becomes a no coiner all of a sudden, that's where the problem lies if you ask me, because at some point, we have to enjoy the fruit of our labour.
What I find problematic is the stipulated timeframe you intend holding, holding just for two circles doesn't seems like long to me because if you can attain that height of over accumulation status during that timeframe, you need to hold for one or two more circle for your Bitcoin investment to give you the best possible result you envision before starting, so in essence of what am trying to say is that 8 years is too small to be term as long term.

There's absolutely nothing wrong with withdrawing some profits out of your bitcoin investment. Nothing is wrong with it besides we're humans and not robots and we have our needs and emergencies sometimes which supersedes our investment plans.

So it is absolutely okay to take a little profit if you've reached your accumulation target. Left to me, it's even a good practice sometimes to reward yourself with a little potion of your profit because it gives you a psychological relief off the efforts you've been putting to accumulate this far. But always have in mind to keep your eyes on the bigger vision instead of selling everything you have and becoming a no-coiner is what isn't encouraged.

[Cipherpz]

I agree with all of this, while at the same time, seats will come available as the price goes up, but yeah at the same time, if the price did not go up enough, then some of those seats will still not come available and people surely can choose whether or not to give up some seats, even if they know that they are limited.. and yeah, if they are holding 100 chairs but they only need 1 or 2 or 10, they may well be willing to give up 5 of their chairs at $115k, and then perhaps another 3 chairs at $173k and another chair or two at $276k.. .. so they might not even realized that they were holding so many chairs until at some later point down the road.. and surely there are some guys with 1,000s of chairs...

Dear JJG, as you said, after an investor reaches his investment limit, he can sell some parts of the chair at different prices. For example, you said to give up some at $115,000 and then give up some when it goes above $170,000.
Now my point is, if they don't need the money at that moment, why would they break the chair's foundation?
If he breaks it without need, he might invest that money in some other sector or he might use the money unnecessarily [which only makes his strong base unstable]. Now, let's say he breaks his Bitcoin stock and converts it into leaves (which can turn into ashes) or invests it in some other sector, will it be more profitable than Bitcoin? Can it protect a person's money from inflation better than Bitcoin?

It seems that I was attempting to largely extend our discussion of a chair analogy in order to suggest that guys who came earlier may have a lot of options and they may be holding a lot of chairs, so unless they sell all of their bitcoin, they may never end up in a position without enough chairs.

I am not necessarily presuming that a guy ends up using any of his sold bitcoin in any kind of meaningful way, maybe he consumes withe the bitcoin that he spends or he throws it away.  Sure at some point a guy might end up diversifying out of bitcoin, since he might start out with just investing into bitcoin and balancing his bitcoin investment with cash, so then at some point he might have 6 months of his expenses in cash or some cash equivalents, and then he might have 1, 2, 3 or even more years of his expenses in bitcoin, and even a guy who invested a couple of years of his expenses into bitcoin over 2-3 cycles, he still might end up with 15 to 20 years or more of his expenses in bitcoin, and personally, I believe that if he is measuring the value of his bitcoin from the 200-WMA, then he may well start to live off of his bitcoin once he has 10 years or more of his expenses in bitcoin, and sure the more cushion (extra) that he has, then the more he does not have to worry if from time to time, he might spend beyond his regular budget since in those kinds of scenarios, he would have extra bitcoin.

I frequently use the example of a guy who might have had started out with an income of $30k or even $50k, and maybe if he had been accumulating bitcoin for a couple of cycles at 15% to 25% of his income, he may well might have had gotten to a place in which his bitcoin would be able to support his total income and even a higher percentage of income, so then such a guy has a lot of options.

Let's say that we have a guy with a $40k income, and he had been investing 20% of his income into bitcoin for a bit longer than the past 2 cycles, so he started investing into bitcoin in June 2016, and he was investing $155 per week (which is $8k per year).  So over the past 9-ish years, he would have had invested right around $74k,  yet he would have had accumulated 15.6 BTC.  So he would have enough bitcoin to support himself at about a $79k per year income, which surely is nearly double his current income, so largely he would be set for life, especially if he was withdrawing less than $79k per year.. sSo largely the guy has to figure out an amount of withdrawal that is comfortable up to $79k per year..

And he does not necessarily need to invest into any thing else with any of his withdrawals.

No matter what people say, I still consider Bitcoin to be the safest asset. Because I know its specific amount [if there are only 100 apples in the world and someone or some group keeps two, three or five apples for themselves, it must be valuable] then why should I sell my apples and go buy oranges whose amount in the world no one knows.

If you are withdrawing sustainably from your bitcoin, then you don't need other assets, yet some people will still choose to have some other assets.

Yes, a person can sell his Bitcoin after having saved enough when he needs a house or a new car for urgent transportation.

If he figures out sustainable withdrawal then he is not depleting his BTC.  He always has enough and he never would withdraw to take himself out of overaccumualtion status... so if the guy decides that he could withdraw $79k per year, but he decides to live off of $50k per year, then the portion that he does not withdraw keeps rolling over, building up and/or compounding upon itself so later down the road (maybe a year or two later), he may well begin to be able to withdraw more than $100k per year without knocking himself out of overaccumulation status.  

Again, if he retires and later there is no profit from all the sectors he invested in other than Bitcoin and the emergency fund runs out, then he can sell some of his previously created Bitcoin collection to survive.

From my perspective, a guy might choose to start to live off his BTC, so he is selling every month or every quarter or twice a year, or maybe he is timing his sales a couple of times every cycle, so he sells for a whole cycle at a time.. but he should not be knocking himself out of overaccumualtion status.. so he only starts to sell when he has  more than enough bitcoin.

But without the need for money, I will never encourage a person to sell Bitcoin even if he has achieved his target amount of Bitcoin and there is a sufficient amount of profit.

You seem to not understand what getting to overaccumulation status means.

Of course, if you don't know how much you need, then you might never be able to reach overaccumulation status.

Also, if you don't know how to calculate from the 200-WMA, then you might also not know how much you need.

He/She should be careful with Bitcoin because Bitcoin is still protecting his assets from inflation in these unstable times in the world.

That is why bitcoin is the best place to keep value, yet overaccumulation status is still attainable.. especially the earlier you start to accumulate, and yeah, if you don't have any discretionary income or hardly any discretionary income, then it is going to be much more difficult to reach overaccumulation status.

I do recognize and understand that there are a decently large number of folks in the world who either have little to no discretionary income and/or they are not able to invest for the long term because they have inabilities to put away discretionary income. I am not going to claim that bitcoin directly ca solve their problems, even though they still may well benefit indirectly from bitcoin as a system that puts our whole money system in a more fair place.  Surely many of us who are participating in various bitcoin threads on this forum are considering that we are in bitcoin in order to attempt to directly benefit from bitcoin, and if we are able to stock away bitcoin regularly from our discretionary income, then it is still possible that we are going to be able to directly benefit from bitcoin and to make it to overaccumulation status... some folks might take longer than others to reach overaccumulation status.

My message to people would be-
Spend only what you need, not more.
You go to your destination quickly but don't have an accident.
You should go down if necessary, but not in a rush, as this may require an MRI.
Be cheerful, not over crazy.

This all makes sense in regards to each of us going at our own pace and not over doing it... and so each of us has to figure what that will be... and I frequently suggest that guys invest into bitcoin as much as we are able to invest on a persistent, consistent, regular and ongoing basis without over doing it... so that means aggressive but without over doing it and that means trying to reach overaccumulation status if you can.  If you cannot reach overaccumulation status then you do the best that you can.

True financial freedom—when a person can say, I have bought my time. Financial freedom is not just about income, but also about complete control over time and life. Bitcoin is complete control over one’s source of income; people who have already participated in this game already have many chairs in their pockets. If they do not sell, they will not be without chairs. Through patience, discipline, and foresight, a person can achieve financial security for their future, especially in the case of a limited supply asset like Bitcoin. Selling is not progress—if it is not managed wisely, it can be the beginning of permanent losses.
Most importantly, Bitcoin is an asset that is ideal for savings. Because it has been able to preserve purchasing power over the long term and has the potential to grow in the future. But this benefit can only be enjoyed to the fullest extent by those who have a certain amount of discretionary income and who are able to invest consistently.
If Bitcoin itself becomes a source of income, then there is no need to sell it and invest in something else that is risky. It can build the foundation for a self-sufficient and sustainable lifestyle.
Mining in the right way means becoming stronger. Not a matter of calculation—a model of financial philosophy, where a person, through a combination of moderation, prudence, and a long-term view, not only survives, but gradually moves himself towards a more prosperous future.
If a person uses less than his potential mining capacity, then the unused portion creates a compound effect along with the potential increase in the value of Bitcoin. Because it has been able to preserve purchasing power in the long term and has the potential to continue in the future. But this benefit can only be enjoyed to the fullest extent by those who have a certain amount of discretionary income and who are able to invest consistently.
Bitcoin creates an alternative economic structure that can be more just and inclusive in the future. It can be the basis for a just future—and being part of that path is a valuable achievement in itself.

[Y3shot]

It is true that sometimes challenges can surpass what is in our emergency and that is why we should make our emergency funds to be strong and big just as our portfolio. I believe a wise investor will device a means when something of this nature happens and they will handle it in such a way that it won't really show or affect there portfolio. But the truth is sometimes this kind  of scenario doesn't happen just like that I mean it is always rare and before situation like this would happen a good investor ought to have set up things because as you are investing as an investor you are also calculating how to handle or approach a situation if something went wrong.

I don't agree with you. If we focus more on how to make the emergency fund to be more than the investment it means you underate the outcome of an investment. One thing you need to know is that you can't solve all your problems even if you have all the money in this life. Emergency fund is very vital for every investors and you can't really tell when you will be in a problem that requires quick solution.  Take your investment very serious and also have some money for emergency,  atleast it can help one to have some relief when money is need to settle some challenge.

[POPOLUV]

Many people delay making decisions due to fear of market fluctuations. But if someone starts investing in small amounts regularly with patience, their experience will gradually increase and at the same time, opportunities will be available to them. Those who are still in doubt should invest even in small amounts and also understand the basic things about Bitcoin and Blockchain. Because the more they know, the more courage they will have to make investment decisions. First, they will start investing in small amounts without making big decisions, which will reduce fear and build confidence. Bitcoin is a long-term journey. To succeed here, you need to keep knowledge, patience and regularity as your strength. So, it is not too late, if you have a very small amount of money left after excluding the necessary expenses, such as $ 10, it is better to start investing. This small step can bring them something big in the future.

Honestly, I get why people fear investing in Bitcoin it's mostly because they don't take the time to really understand it. Fear of market flunctuations is natural, especially for newcomers but the thing is most people are more motivated by the potential profits, the hunger for profit overshadows their interest to learn about the investment. They think throwing money in is enough but that's just the tip of the iceberg. To truly succeed you need to be all in putting in the work, be disciplined, resilient, and having a solid plan just to mention a few. When you combine all these elements, you're more likely to come out on top with long term holding mindset.

I agree with you that investing requires not only money, but also mental preparation, discipline and knowledge. The market will fluctuate. But an investor who invests with preparation and planning takes these fluctuations as an opportunity to learn and profit. Regularity is the greatest virtue of investing. Regular investment brings strong results in the long run. With patience and consistency, you can reach your goal even if you start with $10.

Yes money and understanding are the main principal things in Bitcoin because for you to invest you must have money which is  a source of income and for you to invest that money in Bitcoin you need to have an understanding of how it works and how to go about it. Over the time I realized the problem most persons have in Bitcoin investment is lack of faith, some don't believe Bitcoin has come to stay and this kind of mindset or believe can affect the way one observe and invest in Bitcoin, some people believe in Bitcoin but they are not consistent with their accumulation, if only we can picture or see what Bitcoin holds in the future we wouldn't joke with our investment.

You’re right about money and understanding being the key to bitcoin investment, but you also need to understand that having a discretionary income is essential as it will help you keep up with accumulation of Bitcoin. Having money and having money for investment is two different things, you can have money which might not be enough for investing in bitcoin. Talking about understanding, I think one of the things to understand is that discretionary income should be considered when investing in Bitcoin at all time.

Investing in Bitcoin requires money. If there is no money, then it is not possible to invest. In the case of investing in Bitcoin for the long term, only those investors who have a discretionary income will be able to invest in Bitcoin for the long term. An investor may not have a high monthly income, but he can also be suitable if he is determined to invest. If a part of the discretionary income can be invested regularly, then it is certainly possible to increase the amount of Bitcoin accumulated in long-term investment. But if an investor does not have a discretionary income, then he will not be able to do that. At some point in the investment, his investment may be stopped for any reason. Those who have a regular income will be able to invest a part of their discretionary income in Bitcoin if they try.

This is not new to us and i thought by this time we all could have known and understand when it comes to Bitcoin investments it has to do with money and also the discretionary income  that we all have been talking about still end up being money which we use for an investment, so if want to invest, you don't actually need to have a regular income before you can invest into Bitcoin, you still invest without having a stable source incomes, once one understand about having discretionary income, he will know that a discretionary income is that income that remains after your payment of bills and which many intend to saving the remaining income in bank, why those has the knowledge of multiplying their income will not save their money in the bank but will surely use that money that are suppose to save in the bank for an investment, so with dis  definition i  will said that if you are able to sort out your discretionary income, you can invest because there are many that doesn't have regular income but waste their time in saving their money in the bank instead of investing.

[Emjay24]

That's right, for those who want to buy BTC, of course, now is a good opportunity and chance because coincidentally the price of BTC is undergoing a correction, which was originally more than $120k but is now only at $114k, so of course this is a discounted BTC price and of course if you buy now, of course there will be potential for profit in the future as long as you keep the BTC for a long time.

But if we plan to sell BTC, of course, it is possible as long as we make a profit, don't sell our BTC at a loss because the goal of investing is to make a profit. However, personally, I don't think I will sell BTC at the current price because I'm afraid that if I sell my BTC, the price will actually rise. However, everyone has different techniques. However, it seems that if you want to sell BTC and buy it back at a lower price, that's certainly a good idea because buying BTC at a lower price will certainly increase the amount of BTC you buy. So, as I said, of course, we are free to do whatever we want as long as we continue to make a profit. but certainly all techniques also have their advantages and disadvantages because of course sometimes many people feel lucky with their investment in btc and sell it at the highest price, but the disadvantage of this technique is that when we have finished selling btc, there may be regret because after we have finished selling btc, btc actually rises and we can't buy it at a low price again which ultimately makes us regret having rushed to sell btc.

It's better to take advantage of the opportunities the market offers us. If it's opportune to buy or try to buy, do it Selling is each person's personal decision because it's their own money, and that's respected, but it's not advisable to do so at this time.

Investors who plan to sell should think twice It's good to sell to buy back , but not because they have a prior analysis to take the risk or because there's an emergency.

We should try to have a little more financial discipline and buy when it's necessary to buy, for example, during these times when there are market corrections, it's advisable to buy.

Ideally, we should have this mindset. Don't delay buying Bitcoin. Even better, we should take advantage of market opportunities whenever possible. If the market is experiencing a correction, take the opportunity to buy.

Somehow this statement resonates to me as though you're promoting buying only the dip? It isn't advisable to buy only because the market experienced a correction, It's important as a no coiner who has discretionary income available to set an accumulation target and  continue to buy bitcoin regardless of the market condition. The goal is to have a good stash of bitcoin and reach your target or even surpass it on the long run and not to buy when the prices are low since this is the actions of a trader and not a real investor. When you buy consistently, your periodic buying would still cut across the dip and you end up buying when there is a price correction. If you are very much interested in lump summing on the dip, you can do well to save like 20% of your regular buying amounts consistently and with the discipline of not diverting it in other matters and when your desired dip presents itself you would have saved up a good sum to lump sum and buy the correction as you wanted while you continue buying consistently to reach your Accumulation target.

[Moreno233]

Somehow this statement resonates to me as though you're promoting buying only the dip? It isn't advisable to buy only because the market experienced a correction, It's important as a no coiner who has discretionary income available to set an accumulation target and  continue to buy bitcoin regardless of the market condition. The goal is to have a good stash of bitcoin and reach your target or even surpass it on the long run and not to buy when the prices are low since this is the actions of a trader and not a real investor. When you buy consistently, your periodic buying would still cut across the dip and you end up buying when there is a price correction. If you are very much interested in lump summing on the dip, you can do well to save like 20% of your regular buying amounts consistently and with the discipline of not diverting it in other matters and when your desired dip presents itself you would have saved up a good sum to lump sum and buy the correction as you wanted while you continue buying consistently to reach your Accumulation target.

Buying the dip is not a bad strategy per say but from my experience, it is not optimal to buy only at dips, you will miss a lot of opportunities or likely make mistakes in the process when you stay aside to wait for dips before you buy. Recur that most times we only notice the bottom of the market when it has already happened because there is no perfect way to determine when the dips will happen.

Therefore, buying the dip should not be applied in isolation. You can continue buying with the DCA method and just set small portion of your funds aside to buy should there be a dip. Through this approach, you will get your accumulation objectives fulfilled no matter what happens in the market.

[IceLincoln]

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

There were many people in history who knew about Bitcoin but did not invest in Bitcoin because they could not imagine that the price of Bitcoin would increase so much at the present time, and those who invested with confidence in Bitcoin have been able to make high profits at present, and those who did not invest are regretting it at present. However, the price of Bitcoin, which may increase further in the future, may decrease again, but if you can take risks with confidence in Bitcoin now, then you can move forward in the future, but your risk may be difficult to overcome, but if you can overcome the risk and complete Bitcoin in the long term, then you will also be able to laugh in the future, in that case, if you do not want to miss the opportunity to increase your wealth and do not regret it in the future, you should be aware now.

Many people who knew about bitcoin in the past, or early stages did not invest not just because they didn’t believe the price will reach this level but at that time people were still new to digital assets and a lot scams were going on online too which made people very sceptical about investing.
But now anyone who has heard of bitcoin and has not started investing no matter how small is just not ready to take his/her Financial freedom seriously. Now is a good time to buy, cause bitcoin have the potential to reach $1m and it has proven all haters and doubters wrong in the past and will continue to do so. Just find a way to get started.

[Wakate]

Somehow this statement resonates to me as though you're promoting buying only the dip? It isn't advisable to buy only because the market experienced a correction, It's important as a no coiner who has discretionary income available to set an accumulation target and  continue to buy bitcoin regardless of the market condition. The goal is to have a good stash of bitcoin and reach your target or even surpass it on the long run and not to buy when the prices are low since this is the actions of a trader and not a real investor. When you buy consistently, your periodic buying would still cut across the dip and you end up buying when there is a price correction. If you are very much interested in lump summing on the dip, you can do well to save like 20% of your regular buying amounts consistently and with the discipline of not diverting it in other matters and when your desired dip presents itself you would have saved up a good sum to lump sum and buy the correction as you wanted while you continue buying consistently to reach your Accumulation target.

Buying the dip is not a bad strategy per say but from my experience, it is not optimal to buy only at dips, you will miss a lot of opportunities or likely make mistakes in the process when you stay aside to wait for dips before you buy. Recur that most times we only notice the bottom of the market when it has already happened because there is no perfect way to determine when the dips will happen.

Therefore, buying the dip should not be applied in isolation. You can continue buying with the DCA method and just set small portion of your funds aside to buy should there be a dip. Through this approach, you will get your accumulation objectives fulfilled no matter what happens in the market.

Conscious application when investing in cryptocurrency is very important even though you are trying as much to buy the dip. A lot of cryptocurrency traders are just buying blinding even when they have little fund to invest in cryptocurrency.

Just imagine that you are earning $1,500 a month on average and when you remove your utility bills and miscellaneous bills, you are left with $200. Now if you want to invest in cryptocurrency, you are not expected to use all the whole fund to buy Bitcoin. At least you can divide the $200 into two and invest $100, while $100 is left as an emergency fund so you don't have to go sell your Bitcoin portfolio just because you had emergency bills to settle.

We ought to be very wise when investing so we don't keep making the same mistakes over and over again. There are people that would invest all their saving in cryptocurrency due to lack of knowledge about the crypto market and when problem comes, they would have no option than to go and withdraw fund from their investments which is very wrong.

[Localhostspeed]

Many people who knew about bitcoin in the past, or early stages did not invest not just because they didn’t believe the price will reach this level but at that time people were still new to digital assets and a lot scams were going on online too which made people very sceptical about investing.
But now anyone who has heard of bitcoin and has not started investing no matter how small is just not ready to take his/her Financial freedom seriously. Now is a good time to buy, cause bitcoin have the potential to reach $1m and it has proven all haters and doubters wrong in the past and will continue to do so. Just find a way to get started.

I don't think scam was the main pioneer factor to why many people never wanted to invest in Bitcoin, the big concern was the sinusoidal waves of the price. Human likes money, they are marvel with the return they afr going to get from their investment but none of them are ready to look the price correction. How many times did government says a lot of damages about Bitcoin, it hurt the price for some times but you can't kill what it was meant to do and that was why the price never surrender to their bullies and obviously, many weren't prepared to take the risk.

Unfortunately,  now that Bitcoin has developed a strong force, everyone wish they clear their doubt and goes all in back then and refused to listen to what many people that criticized about Bitcoin. It's what it's now, but it better to be late than never. You don't have to own a full amount of Bitcoin to be a maximalist, even if Bitcoin price should comes down to $1000/BTC today, there people that can't afford that full amount. Buy the amount you know you can afford at that particular time and make your peace with the future.

[Silikiem]

It is true that sometimes challenges can surpass what is in our emergency and that is why we should make our emergency funds to be strong and big just as our portfolio. I believe a wise investor will device a means when something of this nature happens and they will handle it in such a way that it won't really show or affect there portfolio. But the truth is sometimes this kind  of scenario doesn't happen just like that I mean it is always rare and before situation like this would happen a good investor ought to have set up things because as you are investing as an investor you are also calculating how to handle or approach a situation if something went wrong.

I don't agree with you. If we focus more on how to make the emergency fund to be more than the investment it means you underate the outcome of an investment. One thing you need to know is that you can't solve all your problems even if you have all the money in this life. Emergency fund is very vital for every investors and you can't really tell when you will be in a problem that requires quick solution.  Take your investment very serious and also have some money for emergency,  atleast it can help one to have some relief when money is need to settle some challenge.

For your bitcoin investment, you need just your discretionary income to be able to invest with and accumulate bitcoin, this discretionary income being talked about is the money left with you after you might have sort out your other financial obligations or responsibilities. It doesn’t matter the amount, whatever that is left with you is enough to be put into your investment either to start up or to sustain your ongoing bitcoin investment. As for your emergency funds, it is advisable that it should be able to cover at least a minimum of 3 months of your living expenses, It should be able to contain enough money to keep you going during a period of financial needs.

[Muba20]

Somehow this statement resonates to me as though you're promoting buying only the dip? It isn't advisable to buy only because the market experienced a correction, It's important as a no coiner who has discretionary income available to set an accumulation target and  continue to buy bitcoin regardless of the market condition. The goal is to have a good stash of bitcoin and reach your target or even surpass it on the long run and not to buy when the prices are low since this is the actions of a trader and not a real investor. When you buy consistently, your periodic buying would still cut across the dip and you end up buying when there is a price correction. If you are very much interested in lump summing on the dip, you can do well to save like 20% of your regular buying amounts consistently and with the discipline of not diverting it in other matters and when your desired dip presents itself you would have saved up a good sum to lump sum and buy the correction as you wanted while you continue buying consistently to reach your Accumulation target.

Buying the dip is not a bad strategy per say but from my experience, it is not optimal to buy only at dips, you will miss a lot of opportunities or likely make mistakes in the process when you stay aside to wait for dips before you buy. Recur that most times we only notice the bottom of the market when it has already happened because there is no perfect way to determine when the dips will happen.

Therefore, buying the dip should not be applied in isolation. You can continue buying with the DCA method and just set small portion of your funds aside to buy should there be a dip. Through this approach, you will get your accumulation objectives fulfilled no matter what happens in the market.

Yes, investing in Bitcoin can be difficult for those who spend time waiting for the dip. No one knows when the dip will come. The person who decided to buy Bitcoin at $70,000 but he is waiting for the dip. I do not know if he will find that dip at all. If that dip ever comes, then there is doubt whether that person will be eligible to buy Bitcoin. Because Bitcoin has been in a bullish trend for a long time, if the dip comes after a long time, then the money allocated for investment at that time is likely to be spent on something else. Therefore, it is better to accumulate Bitcoin at the current price by considering the dip.

Bitcoin price is currently expected to be 1 million, if this price crosses $150000 or $200000, then we may have to give up hope of finding a dip. If we look at the previous charts of the last few years, our expectations about the dip will change. That's why no one shouldn't miss their chance by expecting a dip.

[mvdheuvel1983]

It is true that sometimes challenges can surpass what is in our emergency and that is why we should make our emergency funds to be strong and big just as our portfolio. I believe a wise investor will device a means when something of this nature happens and they will handle it in such a way that it won't really show or affect there portfolio. But the truth is sometimes this kind  of scenario doesn't happen just like that I mean it is always rare and before situation like this would happen a good investor ought to have set up things because as you are investing as an investor you are also calculating how to handle or approach a situation if something went wrong.

I don't agree with you. If we focus more on how to make the emergency fund to be more than the investment it means you underate the outcome of an investment. One thing you need to know is that you can't solve all your problems even if you have all the money in this life. Emergency fund is very vital for every investors and you can't really tell when you will be in a problem that requires quick solution.  Take your investment very serious and also have some money for emergency,  atleast it can help one to have some relief when money is need to settle some challenge.

Good point Y3shot. There will always be emergencies and problems that will require urgent attention and money is the only thing that helps to provide solutions to the problems but that shouldn't make you to prioritize your savings on emergencies more than you do with your investment because you don't spend to make profit you only invest to make profit now or in the future. If money for your investment should take 70% of your total income your emergency funds should not take up to 20% because you are not working to solve problems when though you will always encounter problems a long the line.

[Zackz5000]

Somehow this statement resonates to me as though you're promoting buying only the dip? It isn't advisable to buy only because the market experienced a correction, It's important as a no coiner who has discretionary income available to set an accumulation target and  continue to buy bitcoin regardless of the market condition. The goal is to have a good stash of bitcoin and reach your target or even surpass it on the long run and not to buy when the prices are low since this is the actions of a trader and not a real investor. When you buy consistently, your periodic buying would still cut across the dip and you end up buying when there is a price correction. If you are very much interested in lump summing on the dip, you can do well to save like 20% of your regular buying amounts consistently and with the discipline of not diverting it in other matters and when your desired dip presents itself you would have saved up a good sum to lump sum and buy the correction as you wanted while you continue buying consistently to reach your Accumulation target.

Buying the dip is not a bad strategy per say but from my experience, it is not optimal to buy only at dips, you will miss a lot of opportunities or likely make mistakes in the process when you stay aside to wait for dips before you buy. Recur that most times we only notice the bottom of the market when it has already happened because there is no perfect way to determine when the dips will happen.

Therefore, buying the dip should not be applied in isolation. You can continue buying with the DCA method and just set small portion of your funds aside to buy should there be a dip. Through this approach, you will get your accumulation objectives fulfilled no matter what happens in the market.

Conscious application when investing in cryptocurrency is very important even though you are trying as much to buy the dip. A lot of cryptocurrency traders are just buying blinding even when they have little fund to invest in cryptocurrency.

Why are you using such vague term cryptocurrency in this thread whereas this is Bitcoin we are discussing in this thread and not cryptocurrency before you get newbies confused and mislead them into puting there money in shitcoins which he could regret why taking such decision, also cryptocurrency has been use to scam many investors so people are careful not to invest into untrusted coin so when making an statement regarding to cryptocurrency be specific since we have several coin in that vague term for there is no harm calling Bitcoin Bitcoin and shitcoin shitcoin so people can get a better understanding of which investment you mean.

[Finebone]

. If money for your investment should take 70% of your total income your emergency funds should not take up to 20% because you are not working to solve problems when though you will always encounter problems a long the line.

Planning your Bitcoin investment like this is a clear sign that you have failed before it even started, why would you even contemplate investing like 70% of your total income?
You should only be thinking of investing with your discretionary income, money left after all your basic needs have been met, but if an investor start his Bitcoin investment or decides to invest like 70% of his income in Bitcoin without sorting out his basic needs first, it will not be up to a week before he falls back to his investment just to sorts out some financial needs, so don't ever do that, invest only from your discretionary income, not 70% of your total income, because that's financial suicide.

Conscious application when investing in cryptocurrency is very important even though you are trying as much to buy the dip. A lot of cryptocurrency traders are just buying blinding even when they have little fund to invest in cryptocurrency

As for this, I just want to make a correction, in other not to mislead newbies, stop addressing Bitcoin as cryptocurrency, so that newbies wouldn't get the wrong knowledge and think that Bitcoin is in the same category as shit coin.

[Ricardo11]

It is true that sometimes challenges can surpass what is in our emergency and that is why we should make our emergency funds to be strong and big just as our portfolio. I believe a wise investor will device a means when something of this nature happens and they will handle it in such a way that it won't really show or affect there portfolio. But the truth is sometimes this kind  of scenario doesn't happen just like that I mean it is always rare and before situation like this would happen a good investor ought to have set up things because as you are investing as an investor you are also calculating how to handle or approach a situation if something went wrong.

I don't agree with you. If we focus more on how to make the emergency fund to be more than the investment it means you underate the outcome of an investment. One thing you need to know is that you can't solve all your problems even if you have all the money in this life. Emergency fund is very vital for every investors and you can't really tell when you will be in a problem that requires quick solution.  Take your investment very serious and also have some money for emergency,  atleast it can help one to have some relief when money is need to settle some challenge.

For your bitcoin investment, you need just your discretionary income to be able to invest with and accumulate bitcoin, this discretionary income being talked about is the money left with you after you might have sort out your other financial obligations or responsibilities. It doesn’t matter the amount, whatever that is left with you is enough to be put into your investment either to start up or to sustain your ongoing bitcoin investment. As for your emergency funds, it is advisable that it should be able to cover at least a minimum of 3 months of your living expenses, It should be able to contain enough money to keep you going during a period of financial needs.

Financial stability is of course very important for a successful long-term investment, especially you need to invest money that you can hold for a long time without any problems or obstacles, and I strongly agree that discretionary income is the most effective for this, sustaining an investment for the long term, It's as easy as you think, but in reality it is much more difficult, so it is important to prepare all kinds of protections in advance to keep the investment long-term.

actually, for long-term success, more important than the amount of investment, is maintaining it for the long term, which is the biggest challenge and at this stage many investors, who have not prepared long-term financial protection from the beginning, they ultimately fail, so the issue of protection should never be ignored, because unexpected situations happen in everyone's life and it comes at any time, so it is the wisest thing to prepare for it in advance.

Keep small investments in a consistent manner, then it will grow into a large amount in the long run, but you must manage it responsibly and consistently for at least 4 years or more than 10 years, then your chances of success will be much higher.
Look, Bitcoin investment does not actually guarantee us success, but if it is managed correctly, the chances of success are much higher, so if you can maintain it for a long time, by managing  all kinds of obstacles, then it can bring good things.

[Wakate]

Conscious application when investing in cryptocurrency is very important even though you are trying as much to buy the dip. A lot of cryptocurrency traders are just buying blinding even when they have little fund to invest in cryptocurrency

As for this, I just want to make a correction, in other not to mislead newbies, stop addressing Bitcoin as cryptocurrency, so that newbies wouldn't get the wrong knowledge and think that Bitcoin is in the same category as shit coin.

Take a little deep breath dude    I am not here to argue with you because I would like you to do a little research before you create a misconcemptive portfolio that is not well structured. This would be an opinion not a fact from me because I believe acquiring knowledge is a continuous process.
If you disagree with me that Bitcoin is far from being called Cryptocurrency then I would like you to define Bitcoin and what it entails in isolation.

You don't have to delude us here because their are many reasons why Bitcoin is called cryptocurrency; It make use of
sophisticated mathematical computation that can be described as cryptography. Bitcoin uses cryptography to carry out transactions and was emulated by altcoins projects that tend to make money from the crypto space by enriching themselves.

Is it because newbies could get confused about what Bitcoin entails and that gave you a solid reason why you choose to called Bitcoin non crypto? Bring your facts dude LoL!

I think you can go read books like to clarify your misconcemptive move;

The Standard of Bitcoin by Saifedean Ammous
Bitcoin and Cryptocurrency Technologies by Arvind Yarayanan

[Sticky Bomb]

Buying the dip is not a bad strategy per say but from my experience, it is not optimal to buy only at dips, you will miss a lot of opportunities or likely make mistakes in the process when you stay aside to wait for dips before you buy. Recur that most times we only notice the bottom of the market when it has already happened because there is no perfect way to determine when the dips will happen.

Therefore, buying the dip should not be applied in isolation. You can continue buying with the DCA method and just set small portion of your funds aside to buy should there be a dip. Through this approach, you will get your accumulation objectives fulfilled no matter what happens in the market.

Conscious application when investing in cryptocurrency is very important even though you are trying as much to buy the dip. A lot of cryptocurrency traders are just buying blinding even when they have little fund to invest in cryptocurrency.

Just imagine that you are earning $1,500 a month on average and when you remove your utility bills and miscellaneous bills, you are left with $200. Now if you want to invest in cryptocurrency, you are not expected to use all the whole fund to buy Bitcoin. At least you can divide the $200 into two and invest $100, while $100 is left as an emergency fund so you don't have to go sell your Bitcoin portfolio just because you had emergency bills to settle.

We ought to be very wise when investing so we don't keep making the same mistakes over and over again. There are people that would invest all their saving in cryptocurrency due to lack of knowledge about the crypto market and when problem comes, they would have no option than to go and withdraw fund from their investments which is very wrong.

Citing your example, if you allocate all $100 to emergency fund alone, it would not be a good practice since there are some needs which are not part of your immediate expenses and which you must plan for by creating a variance of backup fund for it like House rent which is paid yearly in my country, if the house rent is $300 dollars per annum, you'll have to allocate $25-$30 from the $100 left after investing into bitcoin specifically for the house rent backup fund and such goes to other variances in accurate percentages and hopefully by the time you're done you may end up with about $30 for your emergency fund or thereabout. Emergency fund is built over a period of time until it can take care of at least 3 months of your expenses, and you don't have to neglect some important variances of backup funds because you're building your emergency fund. Everything should go synchronously.

[Tmoonz]

If the intention is to always invest, effective cashflow management is paramount. Managing over emotion if your income is uncertain is also important. This provides helpful context to take Bitcoin into account together other financial needs like your nine personal factors. You mustn't know every thing, but being intentional and cautious is a good Beginners guide.

Bitcoin is enough for every person if the earning capacity is good, because at present the government of every country has considered this Bitcoin as a strategic reserve for its country to be economically successful. As time goes by, the importance of Bitcoin is increasing because big holders are thinking of holding only Bitcoin either by following the DCA method or by buying deep. So the more you delay, the more it is getting late for the holders, so connect yourself with Bitcoin investment.
If you have an amount of $ 30 to $ 40 per week, you should keep it under Bitcoin investment every week. It is certainly possible to bring about change if a person wants, so to be sure in the future and to eliminate financial sorrow, you should think of buying Bitcoin only at the present time according to the DCA method.

Fair enough, I agree to the fact that bitcoin investment is open to everyone who is desirous to venture into it provided he or she have the discretionary income to be able to accumulate or invest with. But I wouldn’t agree to the idea of saying if someone have $30 to $40 per week that the person should invest it in bitcoin. Come on dude that is not a right investment guidance as it seems misleading especially to the newbies because by earning $30 or $40 as weekly or monthly salary, you definitely will have other financial obligations to sort out which includes payments of your utility bills, you’ll also have to feed from it, and also get some clothings and other expenses will be covered from the said $30 or $40 salary. In this case, it is only advisable if an individual earn such amount of income weekly, the individual should be able to sort out his other financial obligations first and after sorting out those bills, the amount left which is the discretionary income is what should be used to invest in bitcoin. Mind you, inside that your discretionary income you may also have to be able to sort out your emergency funds from it just along side your accumulation of bitcoin. This is done so as you wouldn’t tend to your bitcoin holdings for emergency situations or to pay your bills thereby leading to a total messy situation or jeopardizing with your investment.

Look, I am all for stacking BTC, but telling someone earning just $30–$40 a week to invest it straight into Bitcoin is kinda wild. That ain’t investment advice, that is setting people up. You gotta handle your life first, bills, food, emergencies, then whatever is  left, that is your discretionary income, and that is what should touch Bitcoin…
Otherwise, you will end up selling your stack just to survive, and that is not the goal…

It is not actually wrong to tell someone to invest in Bitcoin if they are earning $30-40 weekly because there are folks who are just taking care of themselves, no family and so telling such folk to invest is not wrong or weird. I don't think a folk that is taking care of himself alone can not afford to invest $5 out of $30-40 because in days time they will still get paid again so there is nothing wrong unless the folk has someone they are taking care of but if the folk is earning $30-40 a month then I can say it is weird because the money can or may not even last till the end of the month but weekly is advisable but it take a good management skill to succeed in this case.

Every one has what they personally consider to be their own basic needs whether weekly or not and or whether they are only taking care of them self without a family and until those basic needs  are meant and at the end they were able to have a discretionary income to invest if not then they are not eligible to invest, some one can be earning $30 to 40$ weekly and may not still have such left over cash to invest, generally the priority should be given to having a discretionary income and not even the amount that is received either in weekly or monthly.

[Wakate]

Conscious application when investing in cryptocurrency is very important even though you are trying as much to buy the dip. A lot of cryptocurrency traders are just buying blinding even when they have little fund to invest in cryptocurrency.

Just imagine that you are earning $1,500 a month on average and when you remove your utility bills and miscellaneous bills, you are left with $200. Now if you want to invest in cryptocurrency, you are not expected to use all the whole fund to buy Bitcoin. At least you can divide the $200 into two and invest $100, while $100 is left as an emergency fund so you don't have to go sell your Bitcoin portfolio just because you had emergency bills to settle.

We ought to be very wise when investing so we don't keep making the same mistakes over and over again. There are people that would invest all their saving in cryptocurrency due to lack of knowledge about the crypto market and when problem comes, they would have no option than to go and withdraw fund from their investments which is very wrong.

Citing your example, if you allocate all $100 to emergency fund alone, it would not be a good practice since there are some needs which are not part of your immediate expenses and which you must plan for by creating a variance of backup fund for it like House rent which is paid yearly in my country, if the house rent is $300 dollars per annum, you'll have to allocate $25-$30 from the $100 left after investing into bitcoin specifically for the house rent backup fund and such goes to other variances in accurate percentages and hopefully by the time you're done you may end up with about $30 for your emergency fund or thereabout. Emergency fund is built over a period of time until it can take care of at least 3 months of your expenses, and you don't have to neglect some important variances of backup funds because you're building your emergency fund. Everything should go synchronously.

Who is wrong? Did I gave an explanation on how the utility and other bills was being spent? Why are you making uninteresting assumptions about how a monthly salary need to be spent? Even though you need to pay for your house rent utility bills, are you telling me that your monthly salary (if actually you have a job) could afford to pay your annual house rent bill when summed and take care of other bills?

Don't confuse yourself because I only made use of a scenario where if you are being paid monthly salary of $1500 and when you removed your utility bills and other bills, you will have a left over of $200. You don't have to use the $200 ans invest in Bitcoin. You can always divided it into two and use half for investing and keep the remaining as an emergency fund. That is after you have removed all necessary bills including savings.

[SPIDERMAN008]

That's right, for those who want to buy BTC, of course, now is a good opportunity and chance because coincidentally the price of BTC is undergoing a correction, which was originally more than $120k but is now only at $114k, so of course this is a discounted BTC price and of course if you buy now, of course there will be potential for profit in the future as long as you keep the BTC for a long time.

But if we plan to sell BTC, of course, it is possible as long as we make a profit, don't sell our BTC at a loss because the goal of investing is to make a profit. However, personally, I don't think I will sell BTC at the current price because I'm afraid that if I sell my BTC, the price will actually rise. However, everyone has different techniques. However, it seems that if you want to sell BTC and buy it back at a lower price, that's certainly a good idea because buying BTC at a lower price will certainly increase the amount of BTC you buy. So, as I said, of course, we are free to do whatever we want as long as we continue to make a profit. but certainly all techniques also have their advantages and disadvantages because of course sometimes many people feel lucky with their investment in btc and sell it at the highest price, but the disadvantage of this technique is that when we have finished selling btc, there may be regret because after we have finished selling btc, btc actually rises and we can't buy it at a low price again which ultimately makes us regret having rushed to sell btc.

It's better to take advantage of the opportunities the market offers us. If it's opportune to buy or try to buy, do it Selling is each person's personal decision because it's their own money, and that's respected, but it's not advisable to do so at this time.

Investors who plan to sell should think twice It's good to sell to buy back , but not because they have a prior analysis to take the risk or because there's an emergency.

We should try to have a little more financial discipline and buy when it's necessary to buy, for example, during these times when there are market corrections, it's advisable to buy.

Ideally, we should have this mindset. Don't delay buying Bitcoin. Even better, we should take advantage of market opportunities whenever possible. If the market is experiencing a correction, take the opportunity to buy.

Somehow this statement resonates to me as though you're promoting buying only the dip? It isn't advisable to buy only because the market experienced a correction, It's important as a no coiner who has discretionary income available to set an accumulation target and  continue to buy bitcoin regardless of the market condition. The goal is to have a good stash of bitcoin and reach your target or even surpass it on the long run and not to buy when the prices are low since this is the actions of a trader and not a real investor. When you buy consistently, your periodic buying would still cut across the dip and you end up buying when there is a price correction. If you are very much interested in lump summing on the dip, you can do well to save like 20% of your regular buying amounts consistently and with the discipline of not diverting it in other matters and when your desired dip presents itself you would have saved up a good sum to lump sum and buy the correction as you wanted while you continue buying consistently to reach your Accumulation target.

I can't agree with one thing you said to keep a part of your discretionary income for buying in the DIP so that when the price of Bitcoin decreases in the future, you can use that opportunity. But if the price of Bitcoin does not decrease in the future, then you will have to buy Bitcoin at a higher price with the money you did not invest. This will miss a good opportunity. So I personally think that investing some portion of your money in Bitcoin on a regular basis is a good idea, without paying so much attention to the fluctuations in the price of Bitcoin.