Quote from: Fara Chan on November 07, 2024, 03:27:20 PM

Quote from: lizarder on November 07, 2024, 01:09:36 PM

When beginners do have the ability to do continuous buying activities then it will be much better and to be more consistent then they must also understand that the sustainable way can be done gradually according to their financial capabilities. If they do have a fixed budget from work and try to set aside a large percentage of money to buy bitcoin for each week or month then I am sure they will grow much faster because the process will help in running investments with smaller financial capabilities.

If there are beginners who are able to do such practices every week or every month with the main goal of buying Bitcoin and considering it as a good form of investment for themselves, I think people like that are not ordinary beginners because they must have learned first through several methods before they dare to do it every month. I say that because the level of trust of beginners in Bitcoin will also have an influence on the courage of beginners in buying Bitcoin more consistently without looking at the price because they only see the amount of finances they have themselves.

You would agree with me that not all newbies to bitcoin are newbies to the act of investments or business, some beginners are already made businessmen who can understand the act of a new investment within shortest possible period and some of them are just looking for where to shift in excess funds that comes in handy occasionally and those people can never get it wrong with bitcoin. I have a friend who's family deals on groundnut processing and he is responsible for purchasing the groundnut on a large scale for the family business every weekend. He has a descent amount of spare cash every market day which he wastes on frivolities and being close to him, I recommended investing in bitcoin to him some months ago. Today he is still consistent and what got me was that he is impressed at how much he has been able to save in his wallet and that formed a sense of self-motivation for him and being that the funds is not readily available in his bank account helped him not to spend it carelessly. He buys weekly from Bitget and he is consistent since the discretionary income comes in weekly and he chose the weekly investment to tally with the availability of his discretionary income, so he DCAs with little or no pressure.

Quote from: Sim_card on November 07, 2024, 03:44:58 PM

Quote from: JayJuanGee on November 07, 2024, 07:38:09 AM

Quote from: Pi-network314159 on November 07, 2024, 02:29:23 AM

Quote from: JayJuanGee on November 06, 2024, 06:02:56 AM

The truth of the matter is that it can be very tempting to sell most if not all of your bitcoin just like hypothetical 2 did, and he ended up with nearly $1 million in profits out of a $47k investment, so it is difficult to proclaim that he did not profit, even though he would have had been better off to hold onto more of his BTC, perhaps some variation .. yet whenever any of us is attempting to create a somewhat realistic hypothetical comparison,

You are actually right, we can't predict some kind of situation when it arises. We might proclaim to be different in terms of making decisions in regard to what hypothetical 2 did, but we might as well do as he did when we find ourselves in such situations or did worst than him but thanks to Bitcoin growth which has changed people narratives. Because people had some doubt some years ago about bitcoin and some sold way too quickly Because there was no proof as to how hug bitcoin might be. But from previous history of bitcoin starting from 2009 till date has shown the immense growth of bitcoin and if I where in positions to make decisions now, I will be In position of hypothetical 1.

People are still going to make the same mistakes as they made earlier by selling too much bitcoin too soon., and also concluding that bitcoin does not have very much upside potential, so they will feel that they need to shave off their dollars. Sure, there will be a lot of folks hanging onto their bitcoin and figuring out how to continue to have bitcoin as one of their ever-present assets, yet not everyone is going to figure it out... and we cannot even know if future performance is going to be sufficient to justify continuing to hold bitcoin.. each of us has to figure out our allocation and also our way of managing our stash once we feel that we have gotten to a sufficient and/or more than sufficient size of BTC.

I think that bitcoin portfolio management should be another aspect that an investor needs to understand when he has reached his bitcoin investment maintenance stage, so that he does not mismanage his bitcoin investment after feeling that he has more than enough bitcoin in his possession. Since some people might feel that because they have too much bitcoin, they can start selling whenever they like and will end up selling too much bitcoin too soon forgetting the long period of time that they used to build their bitcoin stash to that size and the process they passed through. It is easy to destroy but very hard to build i.e, it is easy to squander 1btc than save gradually to get 1btc.

I think being principled solves this issue, bitcoin accumulation is a decision to be made by the investor himself and one of the important decisions to be made or that I made during my first month in bitcoin accumulation was how long I would want to hold. I wrote the date boldly and hung it in my room and I see it every day as a reminder to continue holding and funny enough only me understands what the date is for. It is possible for people to start feeling that they have arrived in their bitcoin investment and start selling it off in bits and that is totally wrong because they might think that they are just selling off little quantities and forgetting that little drops of water makes the mighty ocean and before they know it, they have sold a good portion of their investments prematurely, which is very bad. I believe you try your best at all costs not to even think of selling any bit of your investment until maturity date and yes you can decide to extend your maturity date since the longer you hold, the more profitable it becomes and the more stashes of bitcoin you would accumulate.

Another way to maintain your investment without preying on it is never to stop accumulating bitcoin, even if you have reached your accumulation target long before maturity, you need to set a new target and continue. This is a psychological thing, the moment you stop thinking of ways to expand your portfolio, the more you may start thinking possibly of ways to reduce it. As long as you are keen on expanding your portfolio as the right thing to be done, it would help you debunk every temptation to prey on your investments