Buy Buy Buy or Sell Sell Sell?

[philipma1957]

prices are lower. Starting a dca say 100 usd a week for a year would be an okay move. Doing 100 usd a week for 2 years would be better. As long as you  Just stack them and hold them.

[Jostern]

prices are lower. Starting a dca say 100 usd a week for a year would be an okay move. Doing 100 usd a week for 2 years would be better. As long as you  Just stack them and hold them.

Yes you’re absolutely right, that would be a magnificent idea, and I will really like to take this approach of buying on a weekly basis or even more on a weekly basis, considering buying $ 100 every week for one year or probably one year or two year wouldn’t be enough time of holding bitcoin, but I would like to buy and accumulate that on an interval of 4-5years intervals or it might not be enough I could consider it for two(2) circle minimum and that wouldn’t be a bad move by the way, but the challenge is having enough discretionary income at my disposal to be able to buy on this amount also considering my basic expenses for a weekly or monthly expenses and then trying to figure out how much would be worth my discretionary income, if I could also work on my cashflow and adjust my expenses.

[centrum]

If a person has basic knowledge about Bitcoin and if he does not have a source of discretionary income, then how will he invest?

to invest, the first thing you need is money. if you do not have money, how will you invest? without money, your knowledge is useless. if you have a job, any kind of job, you can save some money from your monthly salary for your future. a good way to invest in bitcoin is the dca method. here, you don’t need to invest a large amount at once. you can invest weekly or monthly. there’s no extra hassle. when the price goes down, you can buy more bitcoin, and when it goes up, you buy less. but by the end of the year, you will have investe a good amount. this is a very good system for beginners. many new investor say that it is not possible to invest a large amount of bitcoin at once, so this method is very good for them. those who want to invest can follow this method.

[Lidger]

What are the basics that the newbie needs to learn about bitcoin before getting started?

Beginners do not need to have a degree to invest in Bitcoin, as someone mentioned above, how to buy, which wallet is safe, about long-term holding, etc., gaining knowledge about these topics will be enough to invest in Bitcoin. And they can start investing by following the DCA method. They can start like this and gain more knowledge later.

New investors think that they need to know Bitcoin in depth first, but the real priority should be understanding their personal finances, such as cash flow, backup funds, and determining the size of their initial investment position. A few minutes of chart analysis is enough to get a basic understanding of Bitcoin. It is wise to start with small positions and gradually build up confidence and investment as you learn. This is why DCA strategy and proper financial management are essential. So that it is possible to continue investing regularly.

Yes of cause you don't need to know everything about investment before you start investing
It's a process of learning, you can start with a little amount of money first then as time goes on as you begin to learn more about the investment you can be invest a larger amount of money
But before any one starts at least they should know the basic things about the coin like but at the dip and hold

But just starting without knowing any thing concerning the coin is just gambling.

When it comes to investment, I think we should not plan to invest in any coin other than Bitcoin. As an investor, we should first give top priority to the safety of our money. If we invest in the wrong coin at the beginning of the investment, that is, if we do not select Bitcoin for investment but select another coin for investment and if we invest all our money in that coin, then we will not think about the safety of our money because there is no guarantee of these coins in the market. Now these coins may be in the market, after a few years these coins may not be in the market, or it may be that these coins are in the market but the value has decreased a lot. In this regard, Bitcoin is different from all other coins. This coin is in the market with reliability and will continue to be in the future, so those of us who are planning to invest should invest in this coin and continue to increase our investment and focus on increasing our investment more without selling.

[Lembo69]

Looking at this your post here and all you said here, you are not entirely wrong, what you are trying to say makes sense to me, because you must not have it all to start your Bitcoin investment, all you just need is the basic knowledge of it and how to go about your Bitcoin accumulation,

You don't need to know much before investing in Bitcoin. Rather, after investing, an investor learns everything step by step. Just as you can't learn to swim by reading books, you can't learn about investing without investing. But yes, you can get basic knowledge.

An investor should always start. And until he starts, he will continue to struggle.

Find out the main purpose of investing. Why and for what are you investing. How many years do you want to keep your investment.

Emergency fund and other tasks, such as prudent income and backup fund allocation.

Confidence will be effective for you before investing. You don't need to know anything extraordinary about investing.
Only long-term investments should be made. Less than 10 years, long-term investments are profitable in the long run.

[Baridomale]

Looking at this your post here and all you said here, you are not entirely wrong, what you are trying to say makes sense to me, because you must not have it all to start your Bitcoin investment, all you just need is the basic knowledge of it and how to go about your Bitcoin accumulation,

You don't need to know much before investing in Bitcoin. Rather, after investing, an investor learns everything step by step. Just as you can't learn to swim by reading books, you can't learn about investing without investing. But yes, you can get basic knowledge.

An investor should always start. And until he starts, he will continue to struggle.

Find out the main purpose of investing. Why and for what are you investing. How many years do you want to keep your investment.

Emergency fund and other tasks, such as prudent income and backup fund allocation.

Confidence will be effective for you before investing. You don't need to know anything extraordinary about investing.
Only long-term investments should be made. Less than 10 years, long-term investments are profitable in the long run.

 I totally agree with you on the fact that practical engagement in a thing is a more faster way to know about that thing. However, I will advice some degree of financial independence before investing. It is no news that Bitcoin possesses some degree of volatility and this volatility can be best tackled and understood if you ain't investing all your revenue in Bitcoin.... You will invest without emotions and have a clearer picture of the chart

[martinex]

prices are lower. Starting a dca say 100 usd a week for a year would be an okay move. Doing 100 usd a week for 2 years would be better. As long as you  Just stack them and hold them.

Especially now, DCA is the most appropriate pattern to use. A decline can occur at any time and continue if we look at the BTC price chart, although it's not considered particularly necessary. But for me, it's quite helpful. Adding a small amount, even if I have good moment to get a really low price in the past two or five days.

[Barrykbest]

prices are lower. Starting a dca say 100 usd a week for a year would be an okay move. Doing 100 usd a week for 2 years would be better. As long as you  Just stack them and hold them.

Especially now, DCA is the most appropriate pattern to use. A decline can occur at any time and continue if we look at the BTC price chart, although it's not considered particularly necessary. But for me, it's quite helpful. Adding a small amount, even if I have good moment to get a really low price in the past two or five days.

Investing in Bitcoin requires a level of psychological skill in relation to risk management as the system is volatile it can fluctuate anytime. Everyone has their own choice, their own money, and their own level of risk they can handle so if you can't handle such level of volatility then investing in Bitcoin isn't for you.

[Derekfunds]

Looking at this your post here and all you said here, you are not entirely wrong, what you are trying to say makes sense to me, because you must not have it all to start your Bitcoin investment, all you just need is the basic knowledge of it and how to go about your Bitcoin accumulation,

You don't need to know much before investing in Bitcoin. Rather, after investing, an investor learns everything step by step. Just as you can't learn to swim by reading books, you can't learn about investing without investing. But yes, you can get basic knowledge.

An investor should always start. And until he starts, he will continue to struggle.

Find out the main purpose of investing. Why and for what are you investing. How many years do you want to keep your investment.

Emergency fund and other tasks, such as prudent income and backup fund allocation.

Confidence will be effective for you before investing. You don't need to know anything extraordinary about investing.
Only long-term investments should be made. Less than 10 years, long-term investments are profitable in the long run.

 I totally agree with you on the fact that practical engagement in a thing is a more faster way to know about that thing. However, I will advice some degree of financial independence before investing. It is no news that Bitcoin possesses some degree of volatility and this volatility can be best tackled and understood if you ain't investing all your revenue in Bitcoin.... You will invest without emotions and have a clearer picture of the chart

Investing without emotions is right but as an investor you don't have any business with having a clearer view or picture of Bitcoin chart because is of no use to you as an investor. Investing without emotions boils down to using one discretionary income to invest because it is something you can afford to let go and you won't have any emotions when you are using the funds to invest in Bitcoin unless you are Investing to sell for a short period of time which is not good because you will be so much on pressure ( mental stress).

[Merit.s]

What are the basics that the newbie needs to learn about bitcoin before getting started?

Beginners do not need to have a degree to invest in Bitcoin, as someone mentioned above, how to buy, which wallet is safe, about long-term holding, etc., gaining knowledge about these topics will be enough to invest in Bitcoin. And they can start investing by following the DCA method. They can start like this and gain more knowledge later.

New investors think that they need to know Bitcoin in depth first, but the real priority should be understanding their personal finances, such as cash flow, backup funds, and determining the size of their initial investment position. A few minutes of chart analysis is enough to get a basic understanding of Bitcoin. It is wise to start with small positions and gradually build up confidence and investment as you learn. This is why DCA strategy and proper financial management are essential. So that it is possible to continue investing regularly.

Yes of cause you don't need to know everything about investment before you start investing
It's a process of learning, you can start with a little amount of money first then as time goes on as you begin to learn more about the investment you can be invest a larger amount of money
But before any one starts at least they should know the basic things about the coin like but at the dip and hold

But just starting without knowing any thing concerning the coin is just gambling.

But I'll personally answer it more flexibly this time. Ithink learning about Bitcoin before investing and learning about it after starting are probably the same, with the only difference being the timing. So, is there anything wrong with either? I don't think so. Both are perfectly good, and neither is inherently bad. Learning something before jumping in is certainly a wise decision . Just like swimming in a deep pool, to be able to swim, you have to learn first. It's impossible to jump in without knowing how to swim. So, perhaps that's how it feels to learn about Bitcoin before investing.

I know that no time is late to start your bitcoin investment no matter the price of bitcoin at that moment but don't you think that it's better for you to start earlier when you have your discretionary available with the basic knowledge of bitcoin. Instead of trying to have a good knowledge on bitcoin before starting. I don't see someone who has wasted some period of time in learning more about bitcoin to be in the same shoes with someone who only had the basic knowledge of bitcoin and started immediately.

Mr A that was busy wasting time in the name of learning might not be able to buy bitcoin at the price which Mr B bought. Mr B might have gone far in his bitcoin accumulation size and Mr A was busy having fun being a no coiner when he can be learning and investing at the same time. Mr B will have  more experience in the market on how bitcoin works and how to control his emotions by using the right amount of money from his discretionary income and at the same time set up his emergency funds.

Mr A, might have all the thoery knowledge but Mr B will still do better than him because he learned more by experience and will be able to avoid mistakes that he has done in the past. In the long run Mr B will have more bitcoin than Mr A.

[Pandorak]

What are the basics that the newbie needs to learn about bitcoin before getting started?

Beginners do not need to have a degree to invest in Bitcoin, as someone mentioned above, how to buy, which wallet is safe, about long-term holding, etc., gaining knowledge about these topics will be enough to invest in Bitcoin. And they can start investing by following the DCA method. They can start like this and gain more knowledge later.

New investors think that they need to know Bitcoin in depth first, but the real priority should be understanding their personal finances, such as cash flow, backup funds, and determining the size of their initial investment position. A few minutes of chart analysis is enough to get a basic understanding of Bitcoin. It is wise to start with small positions and gradually build up confidence and investment as you learn. This is why DCA strategy and proper financial management are essential. So that it is possible to continue investing regularly.

Yes of cause you don't need to know everything about investment before you start investing
It's a process of learning, you can start with a little amount of money first then as time goes on as you begin to learn more about the investment you can be invest a larger amount of money
But before any one starts at least they should know the basic things about the coin like but at the dip and hold

But just starting without knowing any thing concerning the coin is just gambling.

This topic is often discussed, as everyone likely has a different perspective on the matter. But I'll personally answer it more flexibly this time. I think learning about Bitcoin before investing and learning about it after starting are probably the same, with the only difference being the timing. So, is there anything wrong with either? I don't think so. Both are perfectly good, and neither is inherently bad. Learning something before jumping in is certainly a wise decision. Just like swimming in a deep pool, to be able to swim, you have to learn first. It's impossible to jump in without knowing how to swim. So, perhaps that's how it feels to learn about Bitcoin before investing.

Then, people who don't learn about Bitcoin and jump straight into investing are like someone with great courage who jumps into a deep pool without proper preparation. But because that person has good courage, they can eventually swim. Because a person who has high courage will definitely, when he jumps into a deep pool, even if he is not good at swimming at first, he will definitely remain calm and analyze the existing situation. So, the bottom line is, there's nothing wrong with learning before investing in Bitcoin or after it's up and running. What I find less positive is people who don't invest in Bitcoin, even though they know its potential.

I understand your point of view, but if we delay too long with the excuse of wanting to study it first, we will most likely lose momentum. Remember, the market never stops moving, time passes so quickly, prices will continue to rise over time, the market will not wait. The analogy is perhaps like planting a tree, the best time to plant a tree was 5 years ago, but the next best time is today. If you always wait for perfect soil and weather conditions, you will never actually start planting. But if you start now, even with a small tree, it will surely grow over time and provide benefits in the future. The same goes for Bitcoin, it is far better to start with a small amount while continuing to learn than to just be an observer who procrastinates. The danger isn't starting with little knowledge, but not starting at all even though you know its potential.

[MusaPk]

Usually they experience those thing if they are trading their Bitcoin. They have huge chance that they get burn and maybe with that these people would learn to be more extra careful dealing with their future decisions.

But if they are going for long term investment, I guess that situation is not needed anymore since we are not gonna lose our money especially if we are not selling. Also there's good chance that we could even earn more especially if Bitcoin would undergo for more bull run phase in future. That's why to HODL Bitcoin is more better than trading it since this is more convenience way to deal with our Bitcoin and we have good chance to earn more great profit if there's more good developments will happen with Bitcoin in future.

It's a big mistake to sell your Bitcoin with intention of buying them at low later. People who follow such strategy never get good return because there goal is to get few buck profit and that's it. Those who are holding Bitcoin for long term need not to worry about ups and downs of Bitcoin because the price will eventually go up.

If we compare Bitcoin spot price with 200 WMA then spot price is very much above 200 WMA. Bitcoin spot price is 110$k while 200 WMA is almost 52$k, which means Bitcoin spot price is almost double of 200 WMA. Even if Bitcoin spot price went down half of its current value even then it won't go below 200 WMA. This is an example of how much profit you can earn if you continue to hold bitcoin for long duration.

[Victorybit1]

It's a big mistake to sell your Bitcoin with intention of buying them at low later. People who follow such strategy never get good return because there goal is to get few buck profit and that's it. Those who are holding Bitcoin for long term need not to worry about ups and downs of Bitcoin because the price will eventually go up.

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

The reason why am asking this question is because with the right approach I think this can also be done and even help you get good value of bitcoin when the price dip but there are conditions that would prompt you to actually sell some fraction of your investment. 

Let's say your investment has reached the amount of years (5+) you set for it and it's now time to sell with the motion of selling being tied to the fact that the upcoming season is probably going to be the bear market, isn't it going to be a good move to actually sell portion of your portfolio (not all) and then still continue with your steady buying and as you are running your normal DCA you are still active on the bear so that when the dip comes you can buy back with that sold amount from bitcoin portfolio so that your value of bitcoin is bigger and still go on and continue with your investment plans.

[Barikui1]

Investing in Bitcoin requires a level of psychological skill in relation to risk management as the system is volatile it can fluctuate anytime. Everyone has their own choice, their own money, and their own level of risk they can handle so if you can't handle such level of volatility then investing in Bitcoin isn't for you.

Talking about the bold words in your statement, I don't think it's necessary if you are actually doing the right thing,  what are you doing with psychological skills in relations to risk management if you are investing with your discretionary income, the money you can afford to lose?
All Investors in Bitcoin are advised to invest with their discretionary income so that you wouldn't be emotional in anyway if your investment in Bitcoin isn't going as planned, so what you are actually saying is not necessary if you are doing the right thing by investing within the confinement of your discretionary income and you are only thinking long term.

[Emjay24]

If you have short term plans, bitcoin might be down when you will want to sell it, but if you can hold bitcoin for like 10 years, it’s not possible for you tell sell at loss if you will be selling it.

There's is no guarantee on what you're saying in the bolded part. Although Bitcoin is a very good investment and has a history of price appreciation, yet the price is not guaranteed to keep going up. For this reason you're advised to invest only from your discretionary income and not money meant for your survival so that in case it doesn't play out the way you are proclaiming, you can move on living a normal life. We all believe in Bitcoin prospects and we're casting a fair bet on securing our financial future in Bitcoin believing that it continues to perform well on the long-run. But for a guarantee, I'm sorry there's none. It's also wrong giving someone such guarantee on their Bitcoin investment if you're a custodian or mentor so you don't put yourself in a difficult situation if things don't go as envisioned.

[Spaceman1000$]

New investors think that they need to know Bitcoin in depth first, but the real priority should be understanding their personal finances, such as cash flow, backup funds, and determining the size of their initial investment position. A few minutes of chart analysis is enough to get a basic understanding of Bitcoin. It is wise to start with small positions and gradually build up confidence and investment as you learn. This is why DCA strategy and proper financial management are essential. So that it is possible to continue investing regularly.

A beginner does not need to analyze charts before epping a bag; that's the work of a trader. Basically, what a beginner needs to know is to understand Bitcoin and how the market works. He needs to know that Bitcoin is a volatile asset and the price changes and that there are two seasons: the bull and bear seasons. Another thing a beginner needs to know is wallet security. How to get a good wallet and store the Bitcoin safely. Then, he can start accumulating by using DCA, like you said.

You have given a very good argument. Newbies do not need much in-depth knowledge to invest in Bitcoin. If they have only some basic knowledge, they can make a long-term investment decision in Bitcoin. I think 70% of new investors cannot survive, the main reason for this is the lack of right decisions. The Bitcoin market is always unstable and since there is no legal enforcement, the thing that can be observed among new investors is that waiting for a long time becomes a very difficult thing for them.

I think one thing that new investors must be aware of is that they can accept the instability of the market. You have to continue the investment activities keeping in mind the talent of losing money. In this way, you have to move forward bravely and after a long time you will be able to earn very, very good returns.

Understanding the basic concept of bitcoin investment is not Rocket science, so I believe new investors can do well to improve their knowledge on the process while investing, however i stand to disagree with you about 70% new investors cannot survive, from the get go of your bitcoin investment as a newbie, you should understand that your investment period would be a long ride, because bitcoin investment doesn't work like magic, you have to put in the grind by being consistent for a period of time, in any case most of the big investors today, started as newbies too, they all went through the ladder, so why won't new investors too go through that same route, if they really want to succeed.

[Sticky Bomb]

prices are lower. Starting a dca say 100 usd a week for a year would be an okay move. Doing 100 usd a week for 2 years would be better. As long as you  Just stack them and hold them.

Especially now, DCA is the most appropriate pattern to use. A decline can occur at any time and continue if we look at the BTC price chart, although it's not considered particularly necessary. But for me, it's quite helpful. Adding a small amount, even if I have good moment to get a really low price in the past two or five days.

Investing in Bitcoin requires a level of psychological skill in relation to risk management as the system is volatile it can fluctuate anytime. Everyone has their own choice, their own money, and their own level of risk they can handle so if you can't handle such level of volatility then investing in Bitcoin isn't for you.

The risk management that should be implemented in Bitcoin accumulation is making sure you invest from your discretionary income and building out backup funds like emergency funds and other variances alongside your accumulation of Bitcoin. If you're troubled about volatility, then there's DCA strategy which enables you to buy both the highs and the lows thereby smoothening the effect of volatility on your investment.

You are also advised to be as aggressive as you can in Bitcoin accumulation without overdoing it (like using money meant for your expenses to buy Bitcoin) so that you don't introduce a risk for yourself while investing into Bitcoin and as such not be able to sustain your investment for long.

The psychological skill you'll need is remaining disciplined, consistent and committed to your purchases amidst market fluctuations, paying deaf ears to the markets and focusing on reaching your accumulation target faster within your holding period and better still reaching a level of over accumulation still within your holding period.

[Marvelockg]

The psychological skill you'll need is remaining disciplined, consistent and committed to your purchases amidst market fluctuations, paying deaf ears to the markets and focusing on reaching your accumulation target faster within your holding period and better still reaching a level of over accumulation still within your holding period.

Recently, there has been this fear among investors which looks like most of them do not believe that bitcoin is going to continue going higher considering that of recent, it appears that the market has been relatively slow. investors that are considering selling their coin are the ones that lack the psychological skills that keeps them disciplined throughout the different market condition without being dragged to selling due to pressure.

The only way one can thrive through the different market condition is pretend as though you are unaware of the present market condition and stay disciplined with whatever buying strategy you are currently working with. that way, when others are selling due to fear, you are not going to get tempted to sell with them and with that, it becomes easy continue buying your bitcoin following your set out strategy.

[Silikiem]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

I think is a wrong approach or better still a big investment mistake if your plan is to sell your bitcoin holdings simply because you want to buy back when the price is dip. For a long term investor who is still in his accumulation phase and you’ve not gotten to your accumulation target then you don’t have to sell your holdings, simply because you’re planning to buy back when it’s dip. Now the question is, what if the dip didn’t occur which means you’ll be waiting for the dip before you accumulate bitcoin and such is not a very good investment mindset, it will make you look like as though you’re a trader who’s only in for a quick short profit making mindset. The reason should be that you’re deciding to do so because you’ve gotten to your point of over accumulation and perhaps you’ve even surpassed your accumulation target and then you noticed you’re in some sort of a reasonable and significant profit after accumulating and holding for the long term goal, at this point the highest you could do is to apply the sustainability withdrawal methods and you can decide to take out your profit and not to sell whole or part of of your bitcoin holdings.
Bitcoin investment is a long term investment which possibly you can pass down to generations and at such selling part or all of your bitcoin holdings with the idea of you will buy back when the price is dip is a wrong investment mindset. Those who wait to accumulate only the dips are no longer investors but they are traders who are in for a quick profit making mindset and that’s what will prompt them to always want to buy when its dip in order for them to sell in higher price.

[Sticky Bomb]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

It's lack of discipline on your part and it isn't the best practice because the dip you're targeting and for which you tampered your portfolio might not happen and you might end up not buying back again thereby obstructing the smooth flow of your accumulation journey. Tampering your portfolio in a bid to sell and buy back cheaper can be seen as gambling with your portfolio at a time you should be increasing it consistently.

The reason why am asking this question is because with the right approach I think this can also be done and even help you get good value of bitcoin when the price dip but there are conditions that would prompt you to actually sell some fraction of your investment. 

Let's say your investment has reached the amount of years (5+) you set for it and it's now time to sell with the motion of selling being tied to the fact that the upcoming season is probably going to be the bear market, isn't it going to be a good move to actually sell portion of your portfolio (not all) and then still continue with your steady buying and as you are running your normal DCA you are still active on the bear so that when the dip comes you can buy back with that sold amount from bitcoin portfolio so that your value of bitcoin is bigger and still go on and continue with your investment plans.

If you're so much interested in buying the dip then you should save up funds separately in that regard. A better way should be investing around 80% of your original buying amounts in Bitcoin with DCA and saving the remaining 20% for buying the dip. When your desired dip occurs you should've saved some considerable sum to buy the dip and you can lump sum on the dip while maintaining your consistent buying of Bitcoin and not having to tamper with your portfolio. Everything is about proper planning and yes you can take advantage of the dip without tampering with your portfolio.