Quote from: 7juju on Today at 02:42:17 AM

Quote from: justinlamode on January 31, 2024, 08:11:37 AM

Quote from: Promocodeudo on January 31, 2024, 06:41:45 AM

Quote from: iamsange on January 30, 2024, 11:07:08 AM

Maybe some people still don't understand some of the pressures that have been said previously for this reason, so there are still people who immediately rush to invest in Bitcoin with only minimal capital and their own intentions and determination without considering emergency funds for themselves in life. Because logically, emergency funds are needed to be able to maintain the Bitcoin that we have previously purchased so that the amount of Bitcoin that has been saved will not be disturbed by bad things in real life.

So this needs to be well understood by everyone who wants to store Bitcoin more comfortably by implementing purchases in several stages or by implementing DCA as has been done by many people at this time. In my opinion, Buy the Dip, and Hodl can be done by everyone by making stages or by DCA as long as everyone has prepared emergency funds so as not to disrupt the previously determined Bitcoin purchase plan within a certain time.

Though it has been discussed here severally that emergency funds should the number plan of an investor so that his Bitcoin portfolio will not be tampered from time to time, but I want you to understand that if an investor is waiting for huge of emergency fund he won't be able to invest in Bitcoin.
I think the remedy to this is that, the investor should set his plans with the available fund, keep the emergency fund aside and do the needful with the remaining fund because, there suitable strategy for everyone here, that's why it has been said that invest with the amount within your reach and as your income keep increase, you accumulate more.
An existing or incoming investor that experienced the dip period should buy but am against waiting for the dip itself because it might t favor you as you calculated.

Your statement is very correct because if an individual want everything to be so perfect before they invest, they will most likely not invest. In economics, we were thought that human needs are insatiable. This means the more you try to satisfy your needs the more new things comes up. Besides, technology and innovation is improving a lot of things so every now and then new and better things comes up. This is the reason some people change their phone as soon as new model is launched like in the case of iPhone.

To be able to invest in Bitcoin, we must know where to draw the line between what is most important and what is not. There should be some level of discipline we must imbibe for the greater good. For instance, if I already have a phone that is fine and can do main thing I need a phone for, no need of changing it to a higher version that can also do the same thing when I can simply use the money and buy Bitcoin. Such a phone is not a basic need, so it can wait and that craving will just be one of the sacrifices I have to pay to be able to invest in Bitcoin and secure my future.

So it is important to identify the basic needs, set some funds aside for them, keep some for emergency and then one can start investing in Bitcoin. Other things can be varied and must not be done so one can actually build for the future.

Same thing can also be said for those who are using bigger or more than one gadgets but don't have any investment in bitcoin. When you ask them why they don't own a bitcoin they will say I don't have money to invest but, I will invest when money comes. Why wait for when money will come when you can dispose one of the phones. For instance someone using iPhone 14 or 15 with a Samsung phone and is still waiting for money to invest in bitcoin. Such a person can sell one of the phones and use the money realized and invest in bitcoin. He/she will still have one phone left and his life won't be negatively affected and he has also started his bitcoin journey. When more money comes in he can keep buying more. Instead waiting such person has taken action in the right direction.

There are many types of plans to invest in Bitcoin, but it is not possible to make such a plan because a person will never sell and invest the things he likes. No one wants to sell favorite thing, but we know iphone is every person's dream and favorite thing, so they invest a lot to buy this thing just hoping for money. If you have an iphone or samsung mobile then you never think of investing by selling them, instead you make another plan and go for money to invest in bitcoins. If you save but have no money then you can invest from there but if you sell a phone, and you invest then you will definitely need another phone then you will not have money. But if you want to invest Bitcoin then you must first work hard and earn your money then invest it will be able to bring you maximum success. Why iPhone is not a big thing, but you must have a mobile or laptop to invest if you sell mobile then if there is no such thing then there will be nothing to invest so it is a wrong decision. But if you invest then definitely use your savings, it will pay you good amount in future. Also, you must use DCA method before investing as it will always free you rather you will not face losses.