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?
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?
Would love to hear how you all manage this balance. I already have some amount invested, but way less than I'd like to have, but I have that fear of being put on risk more than I should.
How much of your monthly income are you willing to put on the line really? That's the answer to your question. We can give out a number here and if you're not comfortable with that you wouldn't be. After all we all have different propensities and capacities for risks. Some people will be willing to take 50% of their entire income in investing, some will be okay with just 10 or 15, some wouldn't be bothered to invest at all cause they feel like they don't have enough money for it. The answer lies within you, if you wanna know how much you'll be able to put on the line, think about how much money you'd be willing to invest without it putting you in this roller coaster of emotions.
The thing about crypto is regardless of what coin you invest in, as long as you play your cards right and you don't go out investing on every "next bitcoin" cryptocurrency on the market you'd still get some sweet-sweet gains, and as long as you have a budget for everything that you strictly follow I say you have a great chance at succeeding. Just once again, figure out how much of your monthly income you'd be willing to not see for a while as you put it into work.