Quote from: adultcrypto on January 10, 2024, 04:04:01 PM

Inasmuch as we want to encourage people to invest in Bitcoin given the opportunities and prospect, we must not ignore the requirements of proper planning. Before even getting started, you must have plans on how to go about your asset.

There is definitely a need to plan every task before doing it. If a sudden decision is taken without planning then there is a high chance of making a mistake. If we have decided to go on a tour somewhere, we definitely plan it before taking that decision. How much money we can spend, where we can start our journey and where our destination is, how long we will stay there are planned in advance. Such decisions cannot be taken suddenly without planning. We also need to plan properly for long-term investments. We need to plan how to invest, how much to invest, when to start investing, whether to invest in DCA method or any other method. When we can plan and invest for a long period of time, we are more likely to succeed in that investment.

Quote from: adultcrypto on January 10, 2024, 04:04:01 PM

The basic decisions that must be made if the investment must be sustainable covers the method of buying, if it will be buying at every dip or buying using the DCA method. You cannot just be buying haphazardly without plans of targets. If you do this, your finances might not be well planned to match your investment targets with your personal needs.

The DCA method certainly has the advantage of randomly buying bitcoins. Let's say you plan to invest in DCA method for a certain week or a certain month, but if you get a large amount of money before the certain week or a certain month, why don't you invest that money in Bitcoin? Even if you are not investing in Bitcoin at the time, I will definitely invest in Bitcoin. I have complete freedom in investing, I invest when I want and when I have money. Most investors think that after seeing a few positive candles in the market, they wait for some negative candles. This is a wrong approach for long term investing as you are already investing with DCA method there is no need to invest based on candles like this. Generally in the case of trading you need to have a good knowledge of candles, but in the case of investing, even if you don't have that much knowledge about candles, it will work.

Quote from: adultcrypto on January 10, 2024, 04:04:01 PM

Another factor to consider too is if the investment is for long term (which we encourage here) or for short term. If for long term, then planning still comes in as that is the only way to hold the investment without yielding to the urge to sell as a result of personal needs. Planning takes care of all these.

You will definitely need money as you go through life, accept that you may need money in the future and then invest. In short term plan or long term plan you are never advised to invest your entire money rather investment is said to invest as much as you can afford. Income should be invested with such amount that if financial problems arise later one does not have to sell one's investment to solve financial problems. That is, what I mean is that it is not necessary to invest all the remaining money, a part of the remaining money should be saved for the future so that in case of future danger or financial crisis, the saved money can be used to overcome that danger or financial crisis.