Everyone makes this investment as a sign of long-term holding of their Bitcoin investment before investing. But many of them are not able to keep their investment for long mainly due to their lack of proper investment plan and source of income. Suppose you invest in early stages and even swear from the beginning that I will continue for a long time. After you start investing in bitcoins, you find yourself in a financial crisis and sell your investment. Such is the case with many people that they try to keep their investment for a long time but they cannot continue their investment for a long time due to lack of sufficient opportunity i.e. lack of sufficient money.
So before investing in Bitcoin make a decision in such a way that you never have to sell your investment. Set a specific goal and keep investing until you reach that goal.
So before investing in Bitcoin make a decision in such a way that you never have to sell your investment. Set a specific goal and keep investing until you reach that goal.
and because of that, someone who invests in bitcoin needs to have a stable income and also savings that they can use when they need money for emergencies. because when someone does not have savings and they need money, then what they will do is think about selling the investment they have made, even though the condition at that time could be that their investment is in a state of loss, and that is a big mistake.
investors from the start must think about how they can divide between their investments and savings, so that when they need money for emergencies, then the savings can be used for that, not selling the investment they have made which can cause losses.
That's what actually happens with many older plebs, because their life-conditions prompted them to sell their Bitcoin in times when they need money. It usually happens to investors who are married/have kids. It's very hard for them to have the same sort of conviction as the person who's young and single with absolutely no responsibilities.
I believe if you're still young/single, DCA with some of your monthly salary, save the rest. If a golden opportunity happens again, like a bull cycle ending DIP, then like some people during 2019, Buy the DIP, and HODL. It might be a stupid financial decision, but being young gives you some time to recover and start again.
