Post
Topic
Board Speculation
Re: Road to 100k?
by
Dailyscript
on 24/04/2024, 09:43:48 UTC
And, surely I m not even suggesting that someone needs to know all his/her 9 fatoprs prior to getting started, since one of the most important things in bitcoin is to get started, yet merely because you should get started, does not mean that you should go all in, yet a newbie can consider creating a target of anything like 5% to 25% of his income to go into bitcoin, but yeah, that won't work too well if he had not figured out his discretionary income (in order to not go beyond it) and to perhaps create an emergency fund that is 3-6 month of income/expenses, but I am not even saying that the newbie guy has to create an emergency fund prior to getting into bitcoin, but if he does not have one, then he may want to pace both his entrance into bitcoin and his establishing of his emergency fund, which could cause some delays in terms of getting any kind of decently sized starting bitcoin allocation... but yeah, everyone is responsible for himself, including if he fucks up, he overinvests, and he has to sell at some time that was not in his initial plans, but there still might be ways to recover his situation, even if part of the solution might be to regroup and to sell a bit of BTC, and hopefully at least the portion that is sold is profitable (minimally) even if it might not have been a good idea to sell it,  there are sometimes needs to regroup and reasses and maybe some of that can be done slowly over time (which tends to be my favorite way of doing things), and other times, there may be needs for more extensive and quick measures in order to get things back to a more balanced state of being.
You are absolutely right here Jay~! There should be a good reason to sell if an investor choses to sell. I noticed that some newbie that want to go into bitcoin investment rush into it because of the hype, peer pressure or anxiety which made them jump into it without adhering to the necessary process/steps that every newbie should know before starting an investment. However i do not blame them because they are triggered by their emotions to start, but such person could have a second chance. That is where selling off their little investment comes in, its not just about selling it but the reason for selling should be that they have an ideal business plan or something that could give them money to maintain balance when they start their bitcoin investment again.

Additionally i came to their realization after the little years i have heard experience on accumulating Bitcoin, to achieve a goal is quite not easy as it seems. Bitcoin is one asset that can has a tricky entering and exit strategy, if there are no solid foundation one could possible end up destroying what he has build by collapsing his investment. This is why in as much we investing in Bitcoin there is a level of investment discipline we maintain so that we wont tap into our bitcoin from time to time.