Quote from: Justbillywitt on Today at 06:29:30 AM

Quote from: Hewlet on Today at 05:55:52 AM

Quote from: obuoma on January 30, 2024, 10:02:31 PM

Knowing that investing in bitcoin is a long time investment, you should plan better and keep aside the money for investment as this will help you avoid anything that will alter your reasoning because as an investor you must be psychologically stable.

although the term HODLing tend to suggest that you have to hold it for a little while, investing in bitcoin isn't all that a long term investment as you suggest because the volatile nature of Bitcoin depict that you could have a reasonable returns even after a few month of investment unlike other asset like land that after buying, you have to wait for as long as five yeas upward before the value of the land will appreciate. We've seen the price of bitcoin rise to $42k this January and then dropped back to around $39k this same January so buying it now and after a week or two the price goes back to the $42k, if you sell it at that price, you've made your profit within the shortest possible time.

If you are are buying bitcoin and selling within few months then you are not a hodler. What you are doing is simply bitcoin scalping for few dollars. Bitcoin investment is for the long term if you must see a reasonable profitability. What happens next if you experience loss in the few months you are talking about will you still sell the bitcoin at loss? You are just looking at the positive side of bitcoin investment without considering the other possibility that price could also dip and it could take time to come up even to the price you bought it. Know it today that bitcoin investment in for the long term.

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This is actually true because this is actually the beat time to invest because you are certain that you wouldn't experience any loss from buying at this current price.

In as much as I agree with you that this is the best time to invest in bitcoin. I won't agree to your statement that you are certain that one wouldn't experience any loss at this current price. Few weeks ago we saw bitcoin price above $48k and many never thought we will see $39k again, but bitcoin surprised them and traded below $40k and those who bought at $48k are still in loss. So in bitcoin investment we expect anything at all time. The market is not always one way.

On a general view, this might not be the best time but a good time to invest in bitcoin. I agreed with you in your other expression, in as much as an investor may decide to buy bitcoin at this current price, it is not possible to predict the future with uncertainty. Considering volatility and price fluctuations of bitcoin which can significantly take place within a short period, your DCA strategy is there to mitigate your risk tolerance by making your bitcoin purchase of weekly or monthly with an allocated % of about 5 to 10 based on your income flow with your emergency funds set aside for your unforseen circumstances enabling you to remain focused in your bitcoin accumulation journey.