Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Sim_card
on 27/07/2024, 15:32:34 UTC
You are right, experience is a great teacher, nonetheless, free things such as tutorials, speeches in podcasts, or books could be as good as or even better than paying for a mentor. However, getting a good mentor is valuable since he or she will be assigned to guide, monitor, and support the person being mentored.
I agree with you because experience is such an important factor in human life which prepares people to take many practical life tough decisions so having experience can make life's tough times easier. If we talk about experience it means that if we don't have experience in doing any business then we can't succeed successfully so experience is very important. If we talk about bitcoin investment then our experience is indispensable if we can gain enough experience bitcoin then bitcoin  It will help us in investing which will make us more interested in Bitcoin and if we are successful once we will publish this experience which will make others invest more in us. As we need experience on one hand and our patience on the other hand if we use these two properly then we will achieve a considerable amount of success in any investment which will help us to move our life forward.
The best way to get the experience in bitcoin investment is to start investing as a new investor because that is when you will be able start having the experience of the market and how to control your emotions when the price of bitcoin dips and pumps. Knowing about how much of your discretionary income that you will use to buy bitcoin regularly at your own pace maybe weekly or monthly by DCA  will be determined by you. Initially, you can start with little amount from your discretionary to buy bitcoin frequently.

As time passes by and you are having knowledge of the market, a time will come when you will have increased your faith in bitcoin based on your experience by then you can choose to increase the amount in which you are using to DCA so that you can accumulate more bitcoin compared to when you just started.

Bitcoin investment will also help you to have the experience on managing your discretionary income for the right purpose because you will be able to set aside your emergency funds, reserve funds and floats for backups so that you don't sell your bitcoin investment before time, because if you use the wrong amount it will affect you financially and that can make you sell part of your bitcoin. This will make you readjust the amount to the right one for you to continue accumulating with ease and less worry because have corrected your previous mistakes and everything is put in order for a long bitcoin accumulation goal.