Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Falconer
on 17/09/2024, 03:35:30 UTC
-snip-
Buddy if you are really interested in Bitcoin as a newbie, what you actually need is the basic knowledge and before this I think you shoul have been prepared mantally and financially any other stuff can be learned when you kick start your bitcoin journey fully, i must advise that you should invest with DCA method because it enables you to constantly buy with what you can afford slowly and consistently without any form of interruption and hodl for a long-term which should be your main target as a bitcoiner.
Mental and financial aside, I think a beginner who is interested in investing in bitcoin must have a proper investment plan. They must have a goal for investing and a time frame that they want, this is intended to get the best approach to their investment. All investment plans must also be adjusted to the budget they have without ignoring the need for a reserve budget, this is important so that they do not destroy their investment plans midway.

A basic understanding of what they are investing in is clearly important and they should have learned that before they decided to invest. It makes absolutely no sense to invest in what you don't know, so they should already know what bitcoin is and how to buy and withdraw and store it.

I don't agree that intending or existing investors should keep bothering themselves with what the price says, this could lead an investor to lose confidence in the said investment which may cause lack of motivation to invest in Bitcoin, despite how doubful the society has been with Bitcoin which I think is normal for people that has not been part of a particular investment shoul feel, I still believe that there are ndividuals that understands the authenticity and value accompanied with Bitcoin investment, even though you are still in the early stage of Bitcoin discussion as you said, you shouldn't be skeptical about Bitcoin investment rather it should be a matter of concern to you why many people will be in a forum like this having a discussion about bitcoin investment and other aspects of Bitcoin if not for its long-term benefits.
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.