Quote from: Uhwuchukwu53 on June 11, 2024, 05:58:38 PM

Quote from: Lidger on June 11, 2024, 04:29:59 PM

Quote from: boty on June 11, 2024, 05:07:25 AM

Quote from: Mayor of ogba on June 10, 2024, 06:13:06 PM

I see the idea of building up funds first before accumulating bitcoin as a plan that will delay our bitcoin accumulation journey. Instead of trying to build up funds before accumulating bitcoin, you can use the DCA strategy to accumulate bitcoin either weekly or monthly, whenever your money is readily available. There's no pressure to invest in bitcoin; no one is forcing you to do so. The only thing that can make you sell your bitcoin when it's not time for you to sell it is when you use your whole money to invest in bitcoin. You will depend on your bitcoin investment to survive because you used all your money to invest in bitcoin.

Indeed, this idea can delay us in accumulating Bitcoin and it will also make us delay the profits that we have obtained. Yes, using the DCA method in collecting Bitcoin will make it easier for us to collect Bitcoin. We can use any amount of funds and set our own schedule for collecting of course. we have to do it consistently, in making investments of course we have to be able to make our own decisions and don't let other people influence the decisions we make in investing, if we use all the funds we have to make investments of course this will make it difficult for us to maintain our investments and it would be better if we could have remaining savings for the needs we need to be able to carry out investments well.

Everyone who starts investing for the first time has the idea that they will employ a long-term plan, but for many, the long-term investment plan may not materialize. Some may fail to invest consistently while there are some investors who end up not holding their investments due to various financial crises. Apart from these, those who end up holding their investments for a long time but definitely get a lot better from the investment. DCA investment method is definitely an effective and simple investment method when it comes to long term investment. In addition to the DCA investment strategy, if the investor can build an emergency fund, the continuity of the investment is ensured. If an investor can invest these two combinations then he can later consider himself a successful investor.

I may not totally agree with the part of everyone who start investment having the mindset of long term holding , but for the sake of this thread many has know that long term holding and using the DCA is the actual formula to achieve the real value of their investment in Bitcoin, because some newbie or new investor has the feeling that as the invested on BTC they will get the profit as fast as possible, even some still see investment for Long term holding as trading where they will quickly take their profit but true this regular discussion and answering many people question has solved allot of misconception of Long term investment.

That is why everyone is advised to always carry out their research to find out things that would help them in life, and if not for this thread, you wouldn't have known that bitcoin is good for long-term holding. It is always important for any new investor in bitcoin to know that bitcoin is not a short-term investment so that the investor will know the money he or she will use to start his or her bitcoin investment. Only those investors who are into bitcoin investments for short-term profit will sell their bitcoin investments when they see a small profit. No investor who is into bitcoin investment for the long term will want to sell his bitcoin investment for short-term profit because he or she knows it is only through holding that you can achieve huge profits from bitcoin investment. The only thing that can make an investor who is into bitcoin investment for the long term sell his bitcoin investment is when he uses his whole money to invest in bitcoin.