Investing in bitcoin is not something you can just start doing, proper knowledge and planning is needed. Knowing that it is best invested as a short term for beginners like me and long term for experience investors so as to make profit. As an investor, one need to have other means of earnings in other not to stagger when unforeseen occurrences comes like in the bear market(period when bitcoin price falls). Knowing all of these, my questions are:
-When is it the right time to invest in bitcon?
The best time to invest in Bitcoin is every dumping. Investing in Bitcoin does not require a lot of knowledge or research. Investing in Bitcoin requires you to have patience and enough funds to invest that you don't have to use in your day-to-day operations. Because after investing in Bitcoin, you have to accept it as a long-term investment and hold it until it exceeds your target, then you will get a good quality profit.
But when bitcoin corrects or is dumped and we don't have the money to buy, is this the best time to buy? In my opinion, the best time to buy bitcoin is when you are willing to take the risk, you have the money then that is the best time for you to buy bitcoin.
In addition, we need to have at least basic knowledge about it before investing because we will not be able to hold bitcoin for long, you will not be able to hold it until it is profitable without knowledge. Holding bitcoins until you make profits or achieve your goals is not easy and to do so requires knowledge, no one can hold it without knowledge.
-How can one start planning?
I don't have any additional plans to invest in Bitcoin and I don't think I need to. I prefer to continue investing only by following the DCA method
Likewise, to have faith in bitcoin, we need to have knowledge about it. Without knowledge, how can you confidently buy bitcoin (DCA) daily and monthly?