Hey everyone, I've been grappling with a question lately and would love to get your thoughts. How much of my monthly income should I realistically invest in Bitcoin, considering the emotional rollercoaster of the crypto market.
Out of my head without thinking much I'll say 10%, 10% set aside monthly to invest in Bitcoin won't disturb your finances and you'll still have enough to handle other bills and live comfortably but then again, I don't know how much you earn monthly so the question goes back to you, how much will you be willing to risk monthly to DCA into Bitcoin and won't get bothered with the market movements.
If you answer that with an amount then that's what you should be using to buy Bitcoin. After doing it for sometime and you get more comfortable with the market you can increase your purchasing amount or if you're not still confirmable, you should reduce the amount until you get to a point that you won't be concerned about what's happening to your invested money for now.
I understand the potential gains, but I'm also thinking about the stress of watching the market's frequent ups and downs. Seeing those price fluctuations can be a real thrill ride – exciting one moment and nerve-wracking the next. So, what's the sweet spot? How do I balance a smart investment percentage without getting overwhelmed by the market's volatility?
You have a problem, that's you're getting attached to your money too much and that's why you're monitoring the market, Do understand that you have invested the money and not looking to make profits in the next couple of minutes so you shouldn't be concerned about the price movement of the market until it's time when you planned to cashout your investments. Reduced your capital to amount that you can throw away for couples of drinks and you won't be moved, as I said, invest small and increase your capital as you get more comfortable with the market because you'll definitely get comfortable with more experience.