Quote from: Mayor of ogba on Today at 10:32:09 AM

Quote from: Ruttoshi on February 02, 2024, 05:00:41 PM

Quote from: Litzki1990 on February 02, 2024, 03:54:21 AM

If an investor invests the entire wealth that he has accumulated over a few months or years, he must think whether he is investing his hard-earned money in the right place.

Investing all your entire wealth on bitcoin is a bad investment strategy, because for you to be successful in your bitcoin journey. you don't need to invest all your wealth on bitcoin without having an emerfency funds to back you up when an emergency arise and it will make you to go and sell your bitcoin to take care of your emergency, which has terminated the purpose of increasing your investment, and long term hodli,

Anyone who invested his or her whole fund in Bitcoin without making a provision for an emergency fund will not only reduce his or her bitcoin holding because he or she sold a fraction of his bitcoin to settle his financial needs but will completely miss out on holding a bitcoin because he or she will continue to sell his bitcoin holding to survive since there was no provision for an emergency fund. If you are investing in bitcoin, use 10% of your salary to accumulate your bitcoin weekly or monthly with the DCA strategy so that you can make provisions for an emergency fund that will take care of your financial needs, so that you will not depend on your bitcoin investment to sort your financial needs out.

A long term plan is needed to increase bitcoin funds. If an investor wants he can increase his investment up to 10% of his income or up to a maximum of 30% as per his financial condition. Bitcoin investors must keep in mind don't invest there which has to be withdraw before the expected period of time. Those are making such investments must reduce the amount or they can full fill through other sources. Investing in Bitcoins is not as a get-rich-quick scheme its need time. A bitcoin holder must follow the DCA and plan long term, he can easily reach his desire goal. I don't discourage those who want to put all their savings in Bitcoin because Bitcoin can definitely take you to your expected level but you have to be patient. If you can keep your savings in Bitcoins apart from your emergency expenses then you will be more profitable in Bitcoin than any other investment in the long run.