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Quote from: Makus on September 08, 2023, 07:25:21 AM

I recently created a post asking if I should buy bitcoin now or wait for the dip, and majority of the response I got from the post, advised that I should buy now rather than waiting for the dip due to its volatile nature, and I'm satisfied with this response and I'm willing to bear the risk.
Reason for all these questioning, I have a dream of becoming a long term bitcoin holder but, dreams aren't achieved with words alone, an action is needed for the start up, so I have decided to sell one of my less used phone for the purpose of buying bitcoin.
I'm really eager to purchase my first bitcoin in satoshi.

Of course you have made the right decision, but only invest as much money as you are prepared to lose. But nothing can improve in life without taking risks, but now Bitcoin is the best among the best suitable cryptocurrencies in the world today, you will benefit the most if you invest in this Bitcoin. Because Bitcoin has many positives since the ETF was approved in 2024, after this 2024 Harding, the bull market has started, and there is sure to be success if you invest in it now.

I don't agree with this statement now that I know better about Bitcoin. It is more or less fud in a soft tone. Who will deliberately invest his money to lose it? If I know I will lose my money in any investment, I will not call it investment and I will not be committed to such venture. I use the DCA method and do it consistently, I won't spend all that time and money on something I know will disappear and all my money gone.

I'm not saying that there is no singe risk involved in Bitcoin but the truth remains that Bitcoin is not turning to zero for any reason so there is no way I will lose. From the available data about Bitcoin, the only time you lose money in Bitcoin is when you deliberately sell at a loss else holding it for a little longer will always lead to profits.

The right advice we should be giving people is to invest what they can afford to hold for a long time and not expect quick profits. If they come into Bitcoin with this mindset, they will not be in a hurry to sell and when price drops like we are experiencing now, they will be patient to wait it out.

such a sentence is intended for the functional purpose of money used for investment. what is intended may not force investment using money that is actually part of short-term needs or savings.
This means that those who want to invest in Bitcoin should have good finances so that in their investment plans market conditions will not affect investors. That has been the reason why investors end up selling their investment assets at a loss.

Yes having a good financial status is good in your Bitcoin investment journey, but let not sound like Bitcoin investment is only for the rich. However, every investor must make that informed decisions of ever considering Bitcoin investment in terms of how much of discretional/disposable income they have and moreso another important thing is proper planning can help an investor to become successful in their Bitcoin investment by making proper use of their financial situation, every investor must tailor down his investment plan to suit his or her financial situation.