However, I am not buying Bitcoin now. The title of our topic indicates DIP, and I expect this bottom a little later, and I will buy more Bitcoin then.
How ever any body can choose to do what he/she chooses to do as long as Bitcoin investment is concerned. But the first best time to accumulate Bitcoin was yesterday the second best time to accumulate is now because procastination can make you not to accumulate at all. What if you are waiting for Bitcoin to dip before accumulating and what if Bitcoin didn't dip at the moment you will see that you have missed out opportunity of accumulating Bitcoin when you should done that.
You usually never think about selling, we just need to buy bitcoins and hold them for a long time. In this case we will choose DCA method but there are key techniques in DCA method which must be followed. A new investor cannot directly buy bitcoins, he must follow these rules and accumulate bitcoins in small amounts.
In this, his accumulated bitcoins will only grow as time passes, thus he can convert his bitcoins into bigger numbers after a long period of time. So to sustain this Bitcoin investment for a long time DCA method must be held and in the moment of money crisis it is possible to invest with any amount of money, only the investor taking the risk to invest Bitcoin is the biggest challenge. So we will discuss how Bitcoin can be held for a long time.
There is always a need for money in people's life, so even if you invest for the purpose of long-term investment plan, many times it is seen that due to excess financial needs, you have to sell investments to meet your financial needs despite your own will. This is almost the case with most investors. Since we need money at any time, we need to make some changes in our investment strategy by thinking about our investments and considering our financial needs.
For example, instead of investing all of your remaining money, the remaining money should be divided into two parts, one part should be kept in a savings account and the other part should be invested. If the investor adopts this strategy in the case of investment, it will be seen that when his financial needs appear, he can withdraw money from his savings account and spend that money on his needs, but he will not need to sell the investment. Many may question that the amount of money that is left at the end of the month is not much, how will he save money from that limited amount of money and maintain the consistency of investment. If anyone is thinking like this then I would tell you to divide your minimum amount of money left over after spending it into two parts. Because there is no obligation to invest in DCA investment strategy that requires you to commit huge amounts of money.
Invest according to your ability and try to maintain the consistency of your investment for a long time, then you will see that the amount of money that you think is minimal amount of money becomes a huge amount at the end of time.
All your narratives seems to be directly describing the importance of an effective financial planning and allocation which prioritize or emphasize much on the vital roles and importance of an emergency and reserve funds with their unique functionalities towards achieving a smooth running investment. By definition, it is expected that should work towards building an emergency fund somewhere between 3 to 6 months of their living expenses, it serves as a save heaven an investment cushion and safety net for an unforseen contingency or unplanned expenses as not to disrupt investment plans to when an unplanned expenses arises.
Surely the DCA strategy really has brought hope to investors that doesn't have much to buy in a larger quantity at once by allowing them to invest with an amount that they can be comfortable with, whether weekly or monthly, of which consistency is the lead way as it can takes plenty drops of water to make an ocean.