Ninjastic
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Board Nigeria (Naija)
Re: Hope yah still accumulating and holding.
by
laijsica
on 14/07/2024, 11:40:42 UTC
Quote from: I_Anime on Today at 08:44:47 AM
Quote from: Egii Nna on July 13, 2024, 08:49:47 PM
Quote from: I_Anime on May 08, 2024, 08:14:45 PM
Hope this will help to encourage those that are still accumulating and holding to keep the fire burning  Smiley , don't forget we are in and also going to  the year of greens .

You have brought a nice idea of encouraging people to accumulate more bitcoin, but you forgot to tell them they should purchase what they can afford to lose. We all know that bitcoin will surely increase to the price that we are expecting, but with this post, you can make those who have nothing to invest go and borrow some money in the name of investing because everyone likes profit. 
 
So I will add more and tell anyone that they should invest more. Even though I know everyone will like to invest, you should just know that you are not expecting to put yourself in depth just to invest because there is no point in investing in bitcoin when you are still not comfortable. because when you invest and you are not comfortable, you will end up selling those same investments at a loss just to settle things, and it is of no use because instead of you getting a profit, you end up losing and wasting your time. 

Well I got your point mate, i thanks for the addup . Though investing in bitcoin is nice, but going all in with your funds ain't encouraging, alot of you may  have heard of this word emergency funds , so this like a certain amount put at side to handle some expenses while we accumulate and hodl bitcoin. The reason is that anyone who lacks emergency funds always endup putting their investment in the state of emergency funds , that's withdrawing from your investment whenever there's any expenses which eventually, lead to you messing with your investment at the end .

So as you are accumulate always set some good amount of money as emergency funds, we have you can even go further having a reserve funds for buying the dip is also good but always make sure you have emergency funds to avoid stories that touches the heart, so that when others will be testifying you also will be ( When bitcoin price surges).
This happens to most of the new investors and they accumulate bitcoin from their disposable income but they are very careless about the reserve fund. This usually occurs due to over-emotion or aggressive buying on dips price. You can make aggressive purchases which can give you huge profits in the future but more important is keeping floating cash. One of the advantages of having cash on hand is that your own holdings of bitcoin are the most protected in case of an emergency and the emergency fund is the best solution for your emergency period. Best solution without withdrawing bitcoin holdings.

Yes having cash to buy dips is definitely positive which can further strengthen your holdings. The higher your emergency fund size, the more aggressive you can be in increasing your Bitcoin deposits.