If you are still young, it is good that you extend your bitcoin investment timeline to 10 years and above because that is what really seems to be a long-term duration. You should know that the more you are increasing and hodli your bitcoin investment for a longer time, the more you have a bigger chance of increasing your bitcoin investment and enjoy the compounding effect of your portfolio over time. You will easily get to your bitcoin target and have a good size of bitcoin in future.
if you can make the investment at this young age by making sacrifices and prolonging it then you can expect something good in return later or something good is expected of you.
I love this, the young and energetic age is when you should make some real good decisions and not wait until you are old, weak and weary to come to your senses and make some good financial decisions that you might not have the mental, physical and financial strength to contain. Young people should be encouraged to take over their financial involvements by investing in what can guarantee their financial future like investing in bitcoin with their discretionary income and yes these young ones can make daring sacrifices like cutting short their relaxation time and dedicate it to developing themselves to earn better income and as such increase their discretionary income and invest more in bitcoin, they can also take up an extra job or something online or offline just to fuel or/and maintain their bitcoin accumulation processes so it can integrate seamlessly in their lives. The amount spent on frivolities and flexing too by young people is alarming and if they can cut these down by even 20% to 30%, discretionary income for bitcoin investment would not be a problem to most youngies at all. Most of them have limited responsibilities as compared to older investors and can follow up their investments easily only if they decide to be committed.
My point is that young ones have a lot of energy to expend and if those energies are channeled properly, they have more chances of improving and remaining committed to their investments for a longer period of time thereby securing their financial future with bitcoin.
I know so many people are eager to start their bitcoin investment, but don't get me wrong, bitcoin investment is not something someone should rush into or make sacrifices to start because the person might fail with his bitcoin investment.
Although I subscribe to the preceding sentence in italics, but the subsequent one in bold is not concurrent with my thinking process.
There's patterns to this term called sacrificing and it must not be self-victimizing like most people project it, sacrifices can come as you trying to manage yourself more and use your free time to achieve more, truth be told we waste a lot of time daily on less important stuffs, taking up a side hustle to start you investment journey is a sacrifice, Trying to upgrade yourself in your field is a sacrifice that would open more doors for you as a person and planning your day properly that you mitigate against constant waste of time is still a sacrifice that pays you off, It might even surprise you that doing your work diligently at the office and giving your best is still a sacrifice because you can do it averagely and still possibly not be victimized.
So in essence, you can make sacrifices to start your bitcoin accumulation journey by any of the following:
- Taking up a side hustle to build emergency funding and increase discretionary fund for your investment
- Cutting down on frivolities to service your accumulation journey
- Planning your finances properly and managing your cashflows properly and dedicating a portion of it no matter how small to your investment
- Looking out for ways to improve yourself and make more money to increase your cashflow
The list can go longer, but this is my mind limitation based on personal experiences for now
With DCA, you can grow gradually, building your emergency fund side by side with your portfolio, and over time it would be part of you and you continue seamlessly and with your emergency funds built up, then you can divert the funds previously directed to your emergency funds to increase your accumulation amounts and grow your portfolio faster bearing your accumulation target in mind.
Now that the elections are over, those who kept the faith is Bitcoin will likely be rewarded while those who were sceptical will be struggling to jump in now. Whichever case, all are welcome to join the latest big thing in the financial world.
This statement is pointing at short term gain, the reward of bitcoin accurately comes from a long-term involvement, their reward would be that if the prices does not go back to $60k - $64k again like it was earlier, then they bought at good prices compared to those launching into the market now to buy bitcoin, anyways all are important since price appreciation comes from more people investing in bitcoin and bitcoin adoption is still open to everybody whenever they decide to join in, so even as at now, anyone deciding to invest in bitcoin is joining at a fairly good price compared to another who joins maybe at a time that bitcoin crosses to $80k and the person of $80k is better off compared to those that enter the market at $90k and son on, so whenever you take-up the idea to start investing into bitcoin, you are still on time, because bitcoin potentials in the nearest future would be very mind-blowing.