Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
$crypto$
on 02/07/2024, 12:34:09 UTC
I completely agree many people invest in Bitcoin with  intention of holding onto it for long term but mostly they are forced to sell due to financial constraints or lack of proper planning. It is really important to have a solid investment plan and stable source of income before investing in Bitcoin. Setting specific goal and sticking to it is very important so we do not end up selling our investment prematurely. It is important to be realistic about our financial situation and only invest what we can afford to hold onto for long term. By doing this we can avoid pressure of selling during market fluctuations and achieve our investment goals.
So create a planning fund, with an emergency fund of at least 6 months to cover your needs then you will be a little comfortable investing it also never leave any job because it is your main source of finance.

With an emergency fund that you have prepared for the equivalent of the next 6 months to cover your needs, your investment plan will not fail or sell in the middle of the road even though your unexpected financial difficulties still have emergency funds to use instead of doing cutlos in bitcoin.

In general, the plan is quite good than you think of bitcoin investment but the emergency fund has never been thought of then it will be a mess you will not be able to long term in bitcoin.