But i think if you want to invest in bitcoin then don’t be worry about the price. Bitcoin price always are dumping and pumping. So you can buy any prices and wait for your goal. One thing bitcoin invest is long term holding investment.
not for some people, but for beginners like me there is a feeling of fear and worry if there is a significant drop in prices, and in my opinion that is a natural thing because if you have already taken the plunge or are currently investing in bitcoin we must be prepared to bear the risks in the future and not rule out the possibility Many people who have been involved in the world of investment have experienced things like this. Because market movements are difficult to predict, we have to be prepared for all of these things. Such concerns can make some people sell their bitcoins instead of holding them for the long term or adding to their bitcoin coffers.
but on the other hand, with the price reduction there are advantages for beginners who are starting or want to invest in bitcoin. they can buy at a slightly cheaper cost and target buying and holding for the next few years.
First of all you sound like a trader from your statement. Bitcoin is not to be bought a hodli for few years because you are not going to make any good profit and you will regret your actions in future. The least year that bitcoin should be held is 4 years which is a whole circle and a newbie or a new investor will not just buy and hodli but will continue with his gradual bitcoin of his bitcoin stash by buying weekly or monthly using DCA method all the time for 4-10 years and above while he continues hodli his bitcoin.
The best way to invest in bitcoin is to invest in a very long period of time because that is only when you can make profit due to the compounding effect of your bitcoin portfolio overtime. A new investor like you might not be able to acquire enough Bitcoin or reach your bitcoin target within 10 years because as time passes by the price of bitcoin increases so reaching the fuck you status might take up to 20 years. It is only if you are after short-term profits that you will think 3 years is a long time.
If a new investor like you is scared when the price of bitcoin dips which can lead to you selling your bitcoin, it is wrong because you shoukd have known the basic knowledge of bitcoin before investing and one of them is invest in a long term and only use part of your discretionary income to invest. Firstly, you can start by investing little amount like $10 and as time passes on, you are learning and understanding how bitcoin works, after a year or two when you have believed in bitcoin or gain confidence, you can increase the amount to your desired amount based on your discretionary income at that moment let me say $100. Also having an emergency funds will make be able to hodli for long because when an emergency arises, you are prepared for it. It is good to have an emergency funds up to 3-6 months and reserve funds to back up your emergency funds.