Quote from: Justbillywitt on Today at 07:43:53 AM

Quote from: ginsan on April 06, 2024, 11:10:04 PM

Quote from: JoyMarsha on April 06, 2024, 09:33:39 PM

That's what I always tell newbies, rather than thinking about investing in Bitcoin with big money, is it not much better to start up a DCA method of investment than waiting until one has big money or trying to invest in shitcoin because they believe that, with small money, it will give them profits than Bitcoin if the market soars. However, many people have had this kind of mentality for long and it makes me feel bad about it, in the sense that, you leave the king of crypto to invest in shitcoin that can't stay up to a decade and it becomes a forgotten coin that once existed in the cryptosphere.

We don't have to advise them to use DCA or other strategies but what we should suggest is if they can hold Bitcoin for a long period of time. It's up to them whether they want to start buying all at once or use DCA, but the important thing is that they can refrain from selling because holding Bitcoin for a long time certainly requires patience and also requires a strong mentality.

People generally have their own perceptions of investing in bitcoin, some start with a larger level in the early stages, some start with a lower level. Of course everyone wants to invest in Bitcoin because they target profits in their investment and that is quite natural, but can they Hold and that is the key to success for them.

Do you know that what makes most newbies to sell off their Bitcoin investment is a major price decline of bitcoin. For instance if they bought $2k bitcoin at once and when their is a decline in the market and their capital go from that $2k to around $600, this could trigger panic and the thought to salvage what's left. This could have been avoided if they were properly oriented about the DCA method from the beginning and they utilize it. If a newbie invest using the DCA method and there is a decline in the market and his capital didn't record a big decline, I bet you that newbie will not sell off his portfolio. He will see it that his capital is not badly affected. Let's say he invested with $2k using DCA and there is a decline in market and his capital hit around $1,500 the newbie will continue holding because he is not seeing a big difference from his initial capital and the balance. Therefore it is important to properly equipped newbies with all the necessary information and tools they will need at the very beginning of their investments journey. If you don't properly equipped them, they are prone to make mistake. Many of us would have avoided some mistakes we made at the earlier stage of our investment journey if we knew about DCA method of investment. Let's not leave newbies to their investments method choices when it comes to investing in bitcoin. Tell them to follow the DCA method it will benefit them on the long run and they will appreciate you for that in due time.

I believe when you're referring to the information you're actually talking about the basic knowledge of bitcoin and from my opinion dca strategy is not just the only information a newbie must learn but it's advisable newbies invest using the dca strategy at first. As seen in this thread, dca strategy is so common and is for everyone who choose to invest using the dca strategy, not just for newbies, low salary earner etc but it's a strategy use to accumulate bitcoin. Basic knowledge like knowing how to plan cause from my view planning matters a lot cause when the foundation is weak the building will definitely fall down so my first thought will be on planning, if you're the type that accumulate using monthly salary you must list out your planning method like emergency funds, need, or reserve funds before going ahead to buy. Lastly when you keep talking about the decline or price makes it sound as if you don't trust the investment, panic should come when you're dealing with shitcoins not bitcoin