Re: Buy the DIP, and HODL!

But what I have always felt that is important to everyone (no matter your class), is the income you earn. If your income is good enough (assuming a monthly income), then you can choose to buy once and wait patiently till you receive the next salary before buying again.

I agree with you that the important thing in bitcoin investment is the amount of income you earn and also the amount of bitcoin you are able to accumulate from it, but the aspect of waiting to buy every month end may not be the best option or that is not a wise investment approach. For me if a person recieve salary it is not good to invest once every month but we can mitigate the opportunity by splitting it across the week. For example if a person recieve salary at the first month of resumption, he can fix on how to split his fund into the following part, 1 for bitcoin investment 2. For emergency 3. reserved fund to use for the purpose of family expenses and also for buying bitcoin every week(DCA), buy the dip and of course lump sum till the next month of his salary which is the 4th week to enable him accumulate bitcoin at ease, than investing agresively and sell later due to lack of proper planning. So that he can take advantage of buying the dip in some week from his reserved fund than just investing once in Bitcoin and using the remaining amount on feeding and or meceleneous expenses.

Apart from keeping funds as reserves and for emergency needs, i see no reason why someone who is earning monthly will consider splitting his money through the 4 weeks that makes up a month. For any investor using the DCA strategy to accumulate, if they get their income on weekly basis then they should apply weekly DCAing, and if they receive income on monthly basis they should also invest using a monthly DCA strategy. If you decides to split your monthly funds within the weeks, even though you have emergency funds and reserves, you can enter into a condition that will make you to spend both your emergency funds, your reserved funds and the amount you have kept for your next DCA since all the money are still in Fiat because you earn in Fiat, so if it where to be in bitcoin already you will sort out other ways of attending to such situation without having to tamper with your holdings.

No, i do not think so. If there is availability of emergency/reserved funds then it is very difficult to alter funds that are supposedly kept aside for investment purpose. A monthly earner can still prefer to DCA weekly instead of going in monthly, Investing weekly do have a positive impact to the investor, knowing fully that it could help accumulate Bitcoin efficiently, which means taking advantage of purchasing at different prices. The gap between one month of investment until the other is very wild, the market could have gone through stages that should have been more considerate to buy at a lower price.

Quote from: promise444c5 on October 04, 2024, 10:19:00 PM

Quote from: I_Anime on October 04, 2024, 07:20:24 PM

I started my Bitcoin investment without learning about market analysis, that sounds like what traders usually do before starting trading (but not interested in it). Initially what I did was to learn the basics of Bitcoin first (which includes how to secure my assets) and also learned how to navigate exchanges , so that I will be able to purchase bitcoin through them , before going into deep on how bitcoin investment works.

So one don't need to learn any skills before investing in Bitcoin, bitcoin investment is open for anyone both poor and the rich z the skilled and the unskilled, aslong one have the money to invest that's all.

Well, it's quite a good way of starting your journey I mean you didn't need to spend days/weeks or months studying how to read chart... besides, that's not the basic step to start journey as a newbie, you did the require basic necessary learning( as you've mentioned ).
Thus, regarding the market analysis, you can actually try learning the basics, having Idea on how the market works while you continue your investment journey doesn't look lika bad Idea but it will be a bad idea if you want to start using it as a means to start taking your investment inform of trading... you get the point(not technically directing the whole context on you though by using the word "you"), what I'm just saying is that it isn't a bad idea learning how to analyse and read chart of BTC market

Nothing basic concerning analytically involvement in accumulating Bitcoin, the only recommended opinion is knowing how to buy and store our Bitcoin, any chart reading or extensive reasoning attached are false, this create a stance for short term or trading kind of participation. Likely, knowledge is good to have, but when we talk about accumulation nothing links towards making analysis.