Some bitcoin investors have missed the last market sell-off where Bitcoin gave an around $4,000 or so discount from its previous price in the last few weeks, that was another opportunity to buy more and wait for the dip to be over to be at an advantage when the price will move above it present price., most of them that failed to take advantage of the market to buy more are now waiting and anticipating for the price to fall further for them to buy in.
I wouldn't call that a miss completely because the market is still undecided for now as there are still chances for further dips. Although I was expecting the process of further dips to start yesterday following Powell's speech but it seems that did not really make the anticipated impact and this is somehow suiting for the market. However, it would have still been fine for me should the dip happened yesterday as I am already waiting to buy more around the $20k following little adjustments to my cash flow.
So, I have grown to the extent of keeping an open mind in the market to be able to respond to what the market is showing while keeping my expectations in check.
my JJG investment ideas thread,[/url] I have been update those 4-5 opening posts with current information, and then I try to show the edits.. but it is getting a bit unwieldy.. like as if I almost need to start a new thread rather than updating those 4-5 OPs.
That is a good material you shared there... I never knew you had made such indepth explanation already. Thank you for sharing same free. Those who follow you will never miss road.
I know that I have already attempted to explain this several times, and my tendency is to project out my cashflow for 6 months minimum when I was younger and financial aspects of my life were more simple or maybe up to 2 years if there are several complicated things going on in terms of variation of expenses and/or incoming cash.
If you look at your history and you also try to project the future maybe you might be able to get some kind of a solid grasp that your income might vary between $700 per month (worse case scenario) and $4,000 per month best case scenario, and the vast majority of the time you are receiving around $1,500 per month give or take $300. You could project it all out based on the worse case scenario, but probably it would be more realistic to project it out based on the lower end of the general pattern, which would be $1,200 per month, and then perhaps you might just keep some extra reserves for times when the cash flow is less than $1,200... So if you also know that the amounts of your ability to invest into BTC are going to be vary based on these, then you should be figuring out your minimum amounts to DCA based on your projection of minimums.. whether you choose that to be the $1,200 or the $700 and then of course, you would then be able to add the higher amounts in a kind of manual basis.. or maybe you wait for the whole month to pass before you conclude how much extra that you have, which could be using the extra amounts from prior months to be budgeted into the subsequent month rather than in the month as they are happening, which has a kind of net effect of your maintaining a higher cash reserves.
This is well understood and appreciated. You are so detailed about this. One thing I have also learnt from your explanation is the need to appreciate the power of little beginning. I know I had fallen into the challange of wanting to start very big before. I'm glad those days are gone. Actually, I never thought about my finances in this direction... assuming I know what I knew now, my finances would have been better managed.
There were times I had good some of monies and it never occurred to me I could actually plan and make financial projections with them as I was so focused on graduating and getting a job. Well it is not later because we have an adage that says " anytime a man wakes up is his morning".