Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
SuperBitMan
on 19/08/2024, 15:17:53 UTC
⭐ Merited by JayJuanGee (1)
Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss.
 
If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.

No body will invest all his salary in Bitcoin it is not done anywhere except the person is insane, the money will invest in Bitcoin is our Discretionary income and what is Discretionary income is the amount of money left for an individual to spend or use after sorting out his or her personal needs, so let's get this right and you can as well use your Discretionary income to build your backup funds along side your Bitcoin and if you are done building your backup funds you can focus on your Bitcoin accumulation and even become aggressive if you no it won't affect you.

One don't need to have enough money before he can go into Bitcoin investment, if you are receiving a little salary a full month and you wish to invest in Bitcoin you can, if after your monthly expenses you are lift with a Discretionary income.