Quote from: Justbillywitt on Today at 06:54:53 AM

Quote from: Uhwuchukwu53 on April 22, 2024, 05:01:38 PM

Quote from: Mayor of ogba on April 22, 2024, 01:35:32 PM

Quote from: Taskford on April 22, 2024, 10:32:44 AM

Also people need to know that there's nothing wrong to take a profit at this current situation since its normal for investor to take something when they need it. What's important is there's still a balance left so they would not missed another good opportunity that they could able to earn once same good situation will happen and bitcoin price would pump again then reach for another new ATH.

Your statement shows that someone just wants to take profit from his bitcoin investment just because the person feels like taking profit to sort himself out. This is why it is important not to invest all your money in bitcoin so that you will have enough money to take care of your financial needs any time they arise, and not to sell part of your bitcoin investment to sort yourself out.

Actually many may miss out some things that seems hidden on this aspect of investment by going into profit taken because one need it, I believe allot of information and knowledge on how this long term holding and basically the DCA we mostly in concerned with work, for any investor to rush in taking profit because it deem it necessary base on challenges to solve other responsibilities might have some side impact because one would have set out this so called emergency fund before now reason because even the so called profit has it way of adding to your accumulation as you practice the Long term cutting it off is another way if reducing the acculturation it would have amounted at the end of the period I think this knowledge might seem hidden to investor who is so eager for profit withdrawal.

Any person who is so eager in taking profit from Bitcoin is not a serious investor and shouldn't think he or will see anything meaningful. As an investor before you put money into bitcoin you must have organised yourself very well and do all the preliminaris very well, such as keeping your emergency funds. Mind you emergency funds is very important, so it's not something you refer to as the so called emergency funds according to your statement. It's just like someone building an up stair with the wrong foundation, the building will surely collapse. If you are into bitcoin for long which is expected of you, you have to take emergency funds serious if you don't there is no way you will ever succeed in your holding. If you are well prepared on your bitcoin accumulation journey, by making all necessary provisions available for the beginning, you will notice that holding bitcoin is not as difficult as my people makes it sound.

the truth is that the majority of people that are talking about taking out there profit whenever they are able to see a little top up in there holding haven't really decided that they are ready for long term investment and have probably not figured out what it takes to invest in the long run and so anything to them looks like a good profit that should quickly be leveraged on. If you're yet to figure your financial life out and you're still looking for quick means to earn money or double your income, you wouldn't be able to invest for the long term and it would be very deficult to manage your emotions whenever you're in profit as it will most likely seem like the little profit you've been able to get from investing with that little amount will help you fix your life's issues after all.

Outside of setting out emergency funds and proper accumilation plan that will help you DCA long enough to have had a good portfolio, you should necessarily ensure that your primary source of income is intact and that you you're able to upscale in getting more income from your business or work if it will be possible so you can possibly increase the allocation that goes into your routine DCA and also factor out l how much will go into your emergency funds so instead of thinking about taking quick profit from your holding and in the process reducing the quantity of your stack, you can decide to dig your hands into your emergency to fixing whatever it is that comes up as a reason to taking out part of your holdings.

And again, while it's still not a good idea to tamper with our emergency funds when we're in situations that pushes us to do so, it's even better you tamper with your emergency funds than visiting your Bitcoin whenever you have a need to fix and this is one reason why you should also make good provisions for emergency funds such that it will be good enough to meet up the needs that might come along when way while still at your accumulation stage.