Quote from: Cryptoprincess101 on Today at 09:30:15 AM

Quote from: Samlucky O on October 02, 2024, 12:03:39 PM

Quote from: Felicity_Tide on October 02, 2024, 06:36:26 AM

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.

It is confusing why you would not appreciate that any person buying bitcoin on a regular basis should be able to get to a point that he can manage his BTC buys, even if he is using DCA and even if he ONLY gets paid once a month. Such guy still might find it preferable to spread his BTC buys throughout the whole month rather than being restricted to buying BTC only once a month since he is ONLY paid once a month.

Sure, it might take a bit of time where someone has enough of a cash float or even various reserves that he is able to spread his BTC buys through the month and to even employ his BTC buys weekly rather than monthly, and surely some folks might not be able to get to such a situation, which perhaps might even be blamed on their not having a lot of discretionary/disposable income to spread out through the month. Sometimes there can still be ways to increase discretionary/disposable income by either increasing income or by cutting expenses.

Quote from: Cryptoprincess101 on Today at 09:30:15 AM

Money kept in Fiat can easily be spent than when it has already been converted into bitcoins.

It seems to me that there would be a preference to not spend any money (fiat) once it is converted into bitcoin for at least 4-10 years or longer. Sure, spend and replace might be within the bounds of acceptable investment practices.

Quote from: Cryptoprincess101 on Today at 09:30:15 AM

I know that the DCA strategy is about accumulating with same amount at different intervals but it doesn't mean we should not buy if we get money from other sources before our main source of income arrives so far as our emergency funds and reserve funds are still very much intact. Taking advantage of the DIP don't really mean it must be on weekly basis, DIPs can be taken advantage of at any time of your investment.

These are all good ideas.

Quote from: Cryptoprincess101 on Today at 09:30:15 AM

How about a scenario whereby you used your reserved funds to buy at a DIP price in a week and getting to the end of the month the price even DIPs further, won't you be regretting why you didn't leave your reserved fund till that period?

It seems to me that you can set some of your dip amounts in advance, and yeah it is true that there may be instances in which the BTC price dips further than the amount of dip that you had in reserves, and so each person has to figure out how much money he wants to have in his reserves for buying on dips. On a personal level, I tend to have my buying on dip funds to be set at least to the 200-WMA, and frequently even below the 200-WMA, and surely newbies might not have as much reserve funds to be able to even buy dips.. or they are mostly just focusing on DCA with ONLY limited amount of money they hold back for buying on dips. I personally believe that it is best for the newest of BTC accumulators to mostly focus on DCA and not be fucking around with trying to buy dips, and so part of the rationale for trying to get into a system of buying every week (even if a guy has a monthly income) is so that there could be a bit of buying on the dip that is already somewhat naturally incorporated into the DCA, so there would be less concerns about missing out on dips as compared to the guy who is ONLY buying once a month...

Another thing is that it surely could take one or two whole cycles before a guy might even start to feel that he has stacked enough BTC through his regular DCA practices in order to start to monkey around with some other kinds of practices, such as including some buying on dip practices, and so from my own perspective, it really seems that there are not a lot of needs to be trying to figure out dips or not for some of the guys who might still be in their fairly earliest times of BTC accumulation.. which maybe even getting to a point in which 1-2 years worth of expenses are held in bitcoin, then maybe at that point a person can start to be more creative in his bitcoin accumulation journey, and I have frequently mentioned that it can take 4-10 years or so just to get to a point in which 1-2 years of expenses have been invested into BTC, and surely it could help if BTC appreciates along the way, too which could end up contributing to rethinking whether to stick with pure DCA or maybe to also incorporate some buying on dip strategies.

Quote from: Cryptoprincess101 on Today at 09:30:15 AM

we ain't in a hurry to buy bitcoin at a DIP but if the opportunity surfaces then it's just a bonus, the most important thing is about strategies to increase your income, increase your DCA amount and own a huge portfolio.

I cannot argue with any of these points.

Quote from: Obim34 on Today at 12:17:32 PM

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.

It seems to me that the most important analysis relates to cashflow and discretionary income considerations, and so managing your cashflow so that you are able to invest into bitcoin. It also seems to me that even a brand new person to bitcoin should be able to figure out whether he has an extra $100 or even $10 per week that he could invest into bitcoin for 4-10 years or longer, and so if he gets started investing $100 per week, he can study bitcoin as he goes, yet the most important of the beginner knowledge points is to just assure that cashflow management is in a good place, and if he is not sure about if he really is able to dedicate $100 per week or even $10 per week, then he should cut down a bit and get his amount invested into bitcoin into a solid place before really getting into any kind of in depth attempts at analysis of other matters...

Sure, there has to be at least some bare knowledge and/or confidence in bitcoin in terms of considering that there is going to be a reason to stock away $100 per week into bitcoin, and so if the confidence is lacking, then maybe such person with a known $100 per week budget might want to start out with $10 per week until s/he is able to gain enough confidence in regards to the amount that s/he is stacking away and to have an appreciation that s/he is not going to touch that amount for 4-10 years or longer. So people have differing time constraints in regards to how much they are able to study BTC, so no one is really too likely going to want to be aggressive in their bitcoin accumulation unless they have some confidence about bitcoin, perhaps beyond mere number go up technology, so there may be some needs to study bitcoin in order to start to feel more comfortable in terms of taking a more aggressive investment approach, yet deeper knowledge of bitcoin that justifies aggressiveness is not required in order to get started, and to choose an investment amount that is comfortable whether than it $100 per week, $10 per week or some other amount, yet surely if a person is investing for several months and even getting into years of buying bitcoin, I would think that the fact that they are investing a lot and the possibility that BTC valuations might change during the time of their investing, the more that their BTC value grows, the more that they might want to learn about bitcoin in order to continue to feel comfortable with the increases in the value of their BTC holdings with the passage of time.