Post
Topic
Board Bitcoin Discussion
Re: Would it be enough to buy 100 dollars worth of Bitcoin every month?
by
CryptounityCUT
on 13/12/2023, 15:49:36 UTC
Let me first thank you for the chat. I would also like to congratulate you on being a part of the Bitcoin community.

Each person who invests in any financial asset has their own methodology or investment strategy. In your case, it's called DCA (Dollar-Cost Averaging), a basic strategy where you monthly invest a certain amount you are willing to put into the Bitcoin market.

Note that you are not late; at the moment, the crypto market is small, with approximately 500 million people in the crypto space. According to Statista, by 2027, a new wave of 500 million people will enter the crypto space.

We know different, more advanced DCAs backed with technical analysis, but this takes time to understand and implement into your methodology.

It's important to note that all those price predictions are not 100% correct, and many of them were actually incorrect, as evident from the current price of Bitcoin compared to their predictions. Nonetheless, people's mentality is constant growth in knowledge, price, and the number of products they are focusing on. So, it's reasonable to anticipate that the future price of Bitcoin will go up. Any investment made today is positioning yourself in the market at a certain price. If you already bought and keep buying Bitcoin, it means you are in the market, and you haven't missed anything.

If you expect to make millions from your investment, I'm sorry, but this kind of thinking is not in place. What matters most is to invest an amount you are willing to psychologically accept if it is lost. The value received is not measured by wealth but by percentages of the income of the investment.

Another question you need to ask yourself is, if you can or will become a millionaire or whatever from Bitcoin profits, what will you do with your money? Would you sell Bitcoin to cash out and invest in something else, like real estate or other financial assets? The real question you need to ask yourself is why are you buying Bitcoin and why do you want to sell it?

My personal opinion is that I will never sell my Bitcoins no matter what because the background is too interesting for me (retail) and for many people who are whales. I will buy Bitcoin even if the price reaches $120k. Of course, we are in the middle of major Bitcoin events, so first, we will see how this will develop, but it won't stop me from buying Bitcoin.