Post
Topic
Board Speculation
Re: Buy Bitcoin, and HODL!
by
Btcdeybodi
on 14/06/2024, 07:15:08 UTC
[edited out]
DCA means using an amount maybe $10, $50, $100 or from your discretionary income based on your own case to buy bitcoin regularly weekly or monthly without skipping any one for 4-10 years. While buying at the dip is when an investor keeps his money in fiat and everyday, he is busy watching the chart and bitcoin price hoping to see a dip for him to be able to buy. The annoying thing with these set of investors who do not have enough Bitcoin and is waiting for the dip, always have their own price in which the want bitcoin to fall to be they will buy. So e of them will end up waiting till infinity without buying one Satoshi.

I will suggest that if a person is merely buying anywhere between $10 per week/month and $100 per week/month is likely going to need way more than 10 years in order to get to a status of having had accumulated a sufficient amount of bitcoin.  Perhaps such a person will need 20-30 years or  more to really get to a decent place with his/her bitcoin stash.
Even if it takes someone 20-30 years before owning a huge portfolio it's a good achievement inasmuch as they can be patient enough and make sure that they are consistent in their DCA. Sometimes the reason why people with low income finds it difficult to make investments is because they always draw conclusions about uncertainty that may come up along the line and their ability to endure till that interval of time. Every happy ending start with a little beginning so instead of not making accumulations at all it is better to start with an amount that will not affect you from attending to other life obligations then gradually they can achieve their goals.

Quote
For sure, each of us has differing expectations in regards to how much income that we might need to be able to live comfortably, whether we use bitcoin proceeds to completely replace any income that we have or to supplement income that we might have from other sources.
Yes of a truth every one has different targets in their accumulating process because you may have a target of owning Bitcoin worth $1M while my own targets may be to own Bitcoin worth $5M so it depends on what each individual want because we can't keep accumulating till eternity, so far as we are able to strike a balance between making sure that keep accumulating till our targets are met and attending to other things of life then we are good to go.