Many say invest what you can afford to lose. So after family expenses from your income, if some amount of money is better to invest in bitcoins in DCA method. But it is best to invest in different sectors not only in Bitcoin. Which I am currently investing some amount of my income in bitcoins and also investing in different sectors. Even if my entire Bitcoin investment were to suffer a loss, I would not be financially broke.
Well I will talk on the aspect of invest what you can afford to loose , I think this doesn't even hold only in investment but aswell as trading And that's not the purpose of this post though
. However, the best practice is to invest what you can afford to lose right?? In the case of Btc, its an apex coin so you can expect it to crash drastically over night even if there's a crash , there's always a little profit to settle with comparing to your entry and the amount invested, but it's good to just think it that way besides investment needs follow up so you can always determine the point opt out of investment.
However, I don't think that those who want to get rich with a twinkle of an eye can hold Bitcoin for dear life (hold for 5 to 10 years). That is why many of them have been involved in Bitcoin trading. Why I don't like trading is because it is just another means of gambling.
Yea, it's true to invest what we can afford to lose, but that doesn't mean that even if you can afford to lose a million dollar box, you should put it into trading, as we may know that it is not an easy task for one to accumulate, UpTo 1 BTC, so there is no need to trade the little Bitcoin that you have as you can't gain UpTo 1 BTC or a half BTC from trading.
With patient, accumulating and holding, you can get up to 1 or a half Bitcoin only if you are so serious about achieving it, but in trading Bitcoin I don't see how you can get up to a half or 1 Bitcoin from Trading. It might be because I don't give a fuck about it. That's why I am saying this, but I am kinda sure of it though.
One thing I know for sure is that any investor that really wants to hold for long is not to watch the price of Bitcoin on a regular basis because there might be a time when he or she might be scared or tempted to sell his or her coins, but if the investor is not there to check the price of Bitcoin, I don't think that he or she will eventually plan to sell because Bitcoin is dropping (I am just saying here that watching the price of Bitcoin regularly is not a good endeavor).