Re: Buy the DIP, and HODL!

To me I actually think that having an investment goal is quite appropriate because as common man that just want to secure his or her future true Bitcoin, he just have to accumulate Bitcoin true the DCA method still he is satisfied with his or her current holdings, so when that target is met, the next question he should be asking himself is when is he willing to sell, like the numbers of years he is willing to hold or the amount he would be selling if the price of the asset in his possession reach that particular amount, so to me, investment goal should be made a priority, like if you are buying Bitcoin for retirement purpose, it's still good, as long as you have a specific goal in mind, because not having a specific goal in mind sometimes makes you act confused concerning your investment sometimes, because you don't have a specific vision before investing.

Before investing in Bitcoin we need to have a specific goal and plan. For example suppose many people invest in such a way that they want to invest weekly or deposit bitcoins and there are many people who want to deposit bitcoins monthly even their amount of money is different. Everyone's Bitcoin investment plan is different, some may want to deposit more bitcoins and some may deposit less bitcoins. I think those who don't have a specific goal or plan about their investments are either haphazard and can break or sell their investments at any time.

So before we invest we need to focus the goal and set a specific time frame for how many years we will hold our investment and accumulate bitcoins accordingly. If we can set a specific time frame for our bitcoin deposits and keep depositing bitcoins every month or week accordingly, maybe our investment will gradually increase and we will be able to reach our specific goal.

Planning with a clear vision is easy but implementation is difficult because there are many things involved in the money you earn.But DCA strategy for depositing bitcoin is very easy to implement on daily or weekly or monthly basis. The desired investment success from bitcoin depends on proper and well thought out planning. Long-term investment planning is the key to bitcoin success.

That's why it's very important to have a clear goal in mind before venturing into Bitcoin investment because their are so many things that needs to be in place strategically for you to be able to hold effectively, something like having an emergency fund and also having a source of income so as to be able to sorts out your pressing financial needs, and you wouldn't have to look at your investment at any pressing financial issues, because while Investment is a different thing, holding on to your investment is another thing altogether, so it's very important you prepare for the unforseen circumstances that may affect your investment in one way or the other, so not having an investment goal is not a nice thing as an investor that intends to be successful.

Investing should not necessarily mean profit.

You will get some sort of return from the investment, may be dividends or may be learning. Not everyone succeeds in investing all the time, some succeed and some fail and learn from failure and move towards success.

But one should not invest in a situation where he has no source of income and is totally dependent on his investment.

I don't really know if you mean that we should invest with a mindset that our investment might not also pay off and we should be ready to take full responsibility for such outcomes and prepare ahead of time, but to me the possibility of our bitcoin investment not to give us any return or to return to zero is quite small although it is still something we must have in mind.

Investing when you are not financially stable is a very big gamble and would put you a lot of pressure, in fact it's not possible to hold bitcoin if you are lacking in some kind of way and are not able to take care of yourself, and that's why we normally advice that you should invest with your disposable income and with money you won't miss, so for this to be possible you need to have some extra after expenses and then decide to save it in bitcoin, yeah and other thigns like having an emergency fund which at times would take 3 months or 6months of income to build and having reserves and floats to carry around that would help us have a financial cushioin and maximise our investment in bitcoin.