Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Road to 100k?
by
Frankolala
on 09/08/2024, 21:20:37 UTC
⭐ Merited by JayJuanGee (1)
~Snip
What you said is quite cool and makes sense because no matter what, beginner investors will not be able to ignore basic knowledge, patience, risk management, and investment time if they invest in Bitcoin. Because all of these are important things that need to be understood and also passed by every investor who wants to get rich with the investment that he has entrusted based on his own decision, namely Bitcoin. In addition, at this time there are many investors who are being tested for their level of patience in holding and maintaining Bitcoin so that they do not immediately sell it because they panic when they see the decline in the price of Bitcoin on the market.
You may be right, but not all investors actually put their knowledge into practice when the market is not in line with their wishes. I can give examples of several cases from my friend outside this forum, he is a bitcoin investor who understands the basics of investment, but what he regrets most is that he couldn't buy when the market was down.

He knew exactly that accumulation was good and DCA was useful, but the lack of additional capital made him have to accept reality and let the opportunity pass him by. Basic knowledge is indeed important in investing, while risk management is equally important, but preparing a backup plan should not be ignored.
Your friend does not need to regret that he didn't buy at the dip because no one will know when the dip will come and that is why when investing in bitcoin it is good to plan for the UPity and DOWNity of bitcoin price so that you will not regret any price that the market offers your to buy with.

Since he is still on his ongoing DCA accumulating strategy that should help him also benefit from the dip and he should not kill himself for not having a reserve funds to buy more Bitcoin during the dip because there will be more dip coming in future and he needs to start preparing for such dip now he wants to buy more Bitcoin at the dip.

New investors don't need to worry if they have extra funds to buy during the dip or not because what matters the most is for them to keep on stacking their bitcoin portfolio with regular DCA buying and building their portfolio gradually overtime so that they don't end up holding too much fiat in the sake of preparing for the dip because if the dip did not come, their fiat value will depreciate. Instead new investors should only use DCA so that they can buy with the actual amount of money instead of reserving some for the dip that is not guaranteed.