Quote from: Altryist on May 01, 2023, 05:47:18 PM

Quote from: irhact on April 30, 2023, 04:59:35 AM

Debt free should be the target as it relief you of alot of stress and after paying off your student loan or any other debts that you owe, you can then start saving and then reinvest in Bitcoin for future purposes. If Bitcoin increase, I'll sell and wait for the market to correct before buying again and with that I'll have profits to use for my other needs.

There's no point of me holding when I know Bitcoin dumps after it reaches a new all time high, I can always buy Bitcoin again and hold for the next bull market. I'll just wait until I noticed the market is beginning to lose some volume as signs of a bear market coming then I sell my Bitcoin for profits.

Getting rid of debt is the right step, this is what will remove the burden of responsibility from us. After that, you can think about saving and investing money in some business, or bitcoin, the most important thing is not to focus all your money on one thing, since diversification can protect you, if any of your investments fail, then this will not be a disaster for you because you will have another business or investment.

Bitcoin is a good investment and its cyclicality provides good opportunities, but you need to remember that this will not always be the case, there will come a moment when everything can change and we will not see the usual sequence in its cycles.

Agreed with these since I believe it is a smart move for us to first clear ourselves with debt so that it won't be a hassle when you are allotting part of your salary to investing especially with bitcoin or another cryptocurrency. If we let ourselves first be financially stable in the sense that we have our savings accounts and debt-free situation, this could be the best time to invest. Bitcoin investment is indeed a good investment considering how it performs in the market through the years. It remains to be the strongest crypto today despite the recent fall of its price. I think this is normal to consider since it is by nature a volatile currency, but we can see that it still performs well despite this. But I know I can be wrong so just take the risk that you can really afford and make sure that it won't really affect you so hard when something goes wrong with the market and economy.