Quote from: Gallar on May 20, 2024, 07:32:32 AM

Quote from: rachael9385 on May 19, 2024, 11:10:19 PM

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The perfect time to buy more Bitcoin is during the dip, but most times I don't fully agree with anyone who's waiting patiently for the dip. The reason why is that most times we might experience a dip not knowing where we are during the dip period. So, buying the moment you have the money to buy Bitcoin is the best time. One might have the money to buy bitcoin but might be scared to buy Bitcoin because either Bitcoin price is higher or the other, so the person might not buy. Now most people, out of this fear, keep their money and wait. Maybe within a short while, some emergencies might occur and the person will use the money he kept for Bitcoin to do something else.

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Yes, buying bitcoin when the price is cheap or falling is very good. However, that doesn't mean that when the price of bitcoin rises we have to wait until the price of bitcoin falls before we can make a purchase. So when there is an opportunity (have money) to buy bitcoin, it is better to do it immediately. Because as you said, sometimes emergencies come without us realizing it.

However, what I will correct a little here is, if for example someone intends to buy bitcoin, but when there is an emergency their money is disrupted because of this situation. This means that the money to be invested is included in the hot money category and not cold money. So, so that the DCA accumulation system is not hampered by emergency problems, of course we have to prepare cold money. Apart from that, when managing finances, emergency money must also be available, so that the money planned to be invested in Bitcoin is not disturbed when an emergency occurs. Because if, for example, we invest in Bitcoin using the DCA technique and the money collected is hot money, it will definitely not go smoothly in the end. Because the money that has been accumulated in Bitcoin can most likely be withdrawn to cover if an emergency occurs. Therefore, when you want to invest in Bitcoin, financial management is absolutely necessary.

Well, I don't seem to get what you said, but the fact remains that, as a bitcoiner who is using the DCA strategy to invest and accumulate Bitcoin (according to what's on your portfolio), even when Bitcoin is decreasing in its price, you still have to continue buying it as DCA method gives everyone that is using it the ability to always buy the specific amount they have budgeted already even when Bitcoin is getting low. However, during the time Bitcoin is low, everyone that's in to it won't want to miss it because that's the best opportunity to buy. And again, as you are using DCA to accumulate Bitcoin, you have to remove your mind from the price Bitcoin is heading to and where it is or where it was. With that you can continue buying Bitcoin constantly without any challenges (, if you keep some amount separate from savings and from your investment).

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Therefore, when you want to invest in Bitcoin, financial management is absolutely necessary.

Well, I understand this perfectly, and as most of us already know what's up to investing in Bitcoin for the long run, we have to keep a lot of money that can handle some cases perfectly in a way that we won't have to use the money we already budgeted for our investment. This is also the best thing for anyone that's ready to build his investment properly. One can't successfully use the DCA method perfectly if one doesn't have any money for emergency issues. Moreover, Bitcoin isn't an investment anyone would rush into thinking that he could make quick money from it. I believe everyone here knows the reasons why the DCA method is perfect for investment. That's because, as Bitcoin is not a get-rich quick scheme, DCA is a method that allows us to gather the little Bitcoin we can in a gradual process. If you are the type of person that doesn't earn a lot of salary that can fetch you 1 BTC in 4 to 6 months (or in a year time), and if you really want 1 Bitcoin, you don't have to stress yourself, buy little by little, so you don't get stuck when emergency cases arrives because as a bitcoiner and human we are, there might be a day some slit money problems will come up. And it's not proper to buy bitcoin with a lump sum strategy because it doesn't allow you to buy Bitcoin regulary.