Quote from: rimoeee on Today at 12:10:03 AM

Quote from: Justbillywitt on November 10, 2024, 01:16:47 PM

[edited out]

As a new investor, I have definitely learnt from this. I have always seen my investments as a way out during an emergency period or a way to sort out my emergency needs. Now I've learnt that an emergency fund is needed to take care of those emergencies. And my bitcoin investment should be totally separate from my emergency fund.

Everyone needs to be careful to not be using their investment as an emergency fund, which is way more important when you are a newer investor and building your investment, since you might end up never being able to build the size of your investment if you are having to dip into your investment from time to time and even at inopportune times, which is even more important to not be forced to dip into your investment when it is at an exceedingly low price, yet your failure to properly have various kinds of back up funds and/or emergency funds ends up causing you to never make any progress, including that you could have had been building your investment for 4-10 years or longer, and even starting to make progress getting through the more difficult times of building an investment (which is those beginning years), and then all of a sudden you end up with nothing or near nothing because you did not sufficiently establish funds to get you by during periods in which you could lose some of your income and/or suffer from some high and/or unexpected expenses.

There are people who become rich later in life merely because they did not lose their investments during periods in which they went through tough financial times an then they were able to recover and continue rather than having to start over from the beginning... so they end up not losing all of the progress of the many years of building, and some folks erroneously believe that it would be easy to get back to where they were, which truly is not the case. Sure, I could give an example of someone who might have had build an investment of 3-ish bitcoin over the past 6 years, and surely getting forced to sell some of them right now might not be a bad thing, but if they had been forced to sell half of more of them in 2022 towards the bottom of the market, then they might never really have had been able to recover and maybe those few bitcoin could have had served as a financial cushion, but having had been forced to sell them in 2022, maybe the person might have had been able to buy back 1/10 the quantity of bitcoin, so instead of having 3 bitcoin maybe the person only has 0.3 BTC or 0.5 BTC, so there ends up being a pretty big difference that might not be completely irrecoverable, yet there is still a decent amount of extra financial and psychological cushion that could have had ended up getting removed within a situation that might have had been avoidable (or at least mitigatable by having had established and maintained an emergency fund in the currency that expenses are paid rather than having that bitcoin in their investment, namely bitcoin in this example).

Quote from: arwin100 on Today at 10:23:28 AM

Quote from: Pandu Geddon on November 10, 2024, 03:20:02 PM

Quote from: Proty on November 10, 2024, 01:32:32 PM

It seen you are already regretting from your statement ,

I do not regret selling my Bitcoin because of urgent needs. You do not know my situation at that time. I made sure I had a good allocation of my financial division, so I had funds that I had saved in the bank in the form of fiat that I designated as savings. I did not plan to use the funds for urgent needs. Even though my savings were not enough to cover everything, my decision certainly led to the sale of assets in the portfolio that could cover the shortfall.

I was lucky enough to restart my investment and even faster than my previous Bitcoin investment. Not only from the DCA I do every week from my salary, but also the biggest from betting and trading wins.

Yes this is what we should think about that there's nothing wrong to sell our bitcoin when we urgent need money. Its not good to make our self when emergency situation happen. There are times that our emergency funds cannot cover up all the cost that we need that's why we really need to decide to sell so that we will be out on trouble and could save ourselves on whatever situation that need to spend our money on.

Investment is just there and we can start over again if we are cleared with those issues we encounter. There's no late situation when it comes on bitcoin investment so everything will be settle down. Glad to hear that you recover since that tells everything that everything is situational and its not always about our investment since sometimes we need to take care our personal needs.

Hopefully anyone can figure out ways to establish funds so that they do not have to sell their bitcoin at a time that is anything other than their own choosing, and surely a guy who has an emergency while the bitcoin price is pumping is not going to be as disadvantaged as the guy who has an emergency when the bitcoin price is dumping.. Part of the benefit of having an emergency fund is to be able to have the option to use it, yet if you have no emergency fund, then you have no option regarding what to use and you ONLY are able to spend from your bitcoin, and you ONLY are hoping that your emergency is not so bad that you become completely reckt rather than just being partially reckt.

The earlier example that I gave with the person selling around 2.5 BTC might still end up that 10 years down the road he is able to recover and have over 2 BTC, but maybe he would have had felt much better if he had not screwed up because he would have had 4.5 BTC in the non-screwing up situation, and the magnitude effects of his screwing up could make a pretty big difference 10 years down the road. But, yeah, guys can rationalize and tell themselves that they have not screwed up too badly, and they are largely lying to themselves and failing to learn if they might not be able to accept the fact that they had screwed up... and yeah, sometimes they end up not losing too badly, but hopefully they are able to learn how to manage their portfolio and their cashflow better and sometimes even to be able to share their learnings with others who might not always realize that their own sloppiness might end up with losses that are much larger than they would prefer to go through.

Quote from: Sim_card on Today at 08:44:37 AM

This is the first time, I am experiencing a bull run, and it is a good thing to me because I am being encouraged and motivated to continue my bitcoin journey and increase my bitcoin target, so that I can have more bitcoin in my possession in future. My DCA is ongoing, and I ain't thinking of selling a dime but just to keep on buying.

Getting through a whole cycle and accumulating BTC the whole time is likely going to put you in a pretty solid situation, and sometimes if we have accumulated through a price rise, then we are even more convicted to continue to accumulate when the BTC price does end up going on its later dip, even though surely during that subsequent dip period the value of our overall BTC holdings will be going down during that time.. so it can take a while to get to a point of starting to feel that we have gotten mostly through our BTC accumulation phase.

Quote from: Jewan420 on Today at 11:43:59 AM

If you're a new investor and you haven't reached your goals yet, I think it's best to steer clear of this Bitcoin bullrun.

It sounds as if you are recommending new investors to employ a waiting strategy, so if they don't have any coins you think that they should wait before getting started in their bitcoin investment journey?

Quote from: Oshio-man on Today at 11:48:15 AM

This is the period to sell your bitcoin, if you are still holding bitcoins in your wallet, do your self a favor to release your bitcoin because the price has increased above $82,000, I don't think it will hit the price many people are waiting to see this year which is $100,000, but it will definitely get to that price before the end of next year, do you think it will reach $100,000 this year? With my observation, this is not time to buy bitcoin from the market because the price has moved higher which will not allow people to make good income whenever they want to see in the future.

You are saying that if someone has no bitcoin, then they should not buy right now?

And you are also saying that a person might have just stared buying bitcoin in the past year or so, they should sell too?

Of course, everyone is free to do whatever they like, yet it seems pretty presumptuous that you are selling now or failing/refusing to buy now because you consider that you are going to be able to buy back cheaper.. which may or may not end up being a very accurate presumption.

Another thing is that you have ONLY been registered on the forum since June, so you ONLY have about 5 months experience in bitcoin , but you are an expert?

Consider the guys who came to bitcoin in late 2016 and early 2017, they could have had sold all of their bitcoin, and maybe they would have been able to buy back cheaper, but if they just kept accumulating over the past 7-8 years, they would have had been in a better position due to their ongoing accumulating BTC rather than trying to figure out when to buy and when to sell. .just continue to buy until they have enough, and in the end the price matter might end up working itself out, no? You are proclaiming this time is different? We need to trade rather than focusing on BTC accumulation practices? I have difficulties presuming that you are supposedly smart about BTC even though you are giving recommendations that seem to presume the BTC price going down from here, and even if the BTC price does go down from here, I am not really sure how a guy who had just started buying BTC would be advantaged to sell whatever he had accumulated so far and then to start over or to wait rather than just keeping on buying.

Quote from: Pi-network314159 on Today at 01:40:04 PM

Quote from: Oshio-man on Today at 11:48:15 AM

This is the period to sell your bitcoin, if you are still holding bitcoins in your wallet, do your self a favor to release your bitcoin because the price has increased above $82,000, I don't think it will hit the price many people are waiting to see this year which is $100,000, but it will definitely get to that price before the end of next year, do you think it will reach $100,000 this year? With my observation, this is not time to buy bitcoin from the market because the price has moved higher which will not allow people to make good income whenever they want to see in the future.

That is very rediculus osho-man. If you want to sell your coin it's up to you but don misleed people who are HODLing their bitcoin. By the way are we HODLing bitcoin to climb new ATH before selling? Or do anyone told you our target is $100k? As far as I am concerned, each an everyone here has their time duration and the amount of bitcoin they should be able to accumulate in the space of 5-10 years and or 10-20 years above. so by then bitcoin would have pass the ball mark of $100k. Selling now that bitcoin is withing the range of $82k is not a good choice except for a person who has been accumulating for 15 years ago and decide to sell now, if he has reached his set target them he/she can decide to shave off some amount or may decide to HODL more longer.

I know that people talk a lot about $100k, yet it seems problematic if guys have a target of $100k, including guys like you Pi-network314159, since you have ONLY been into bitcoin for a bit more than a year, if we go by your forum registration date.

I doubt that there are a lot of guys who have $100k targets for large portions of their stash, even if there is a lot of talk about $100k. For example if you have 30 BTC and you decide to sell 1 or 2 at $100k, then maybe it is a big so what. If you have been accumulating bitcoin for 6 years and you have gotten to accumulate 2 BTC and you plan to sell 1 BTC at $100k, that might be really stupid, yet of course, there are going to be guys who do stupid things and guys who should be in their BTC accumulation stage, but they get confused about whether to continue accumulating BTC and/or otherwise what to do to manage their BTC holdings or to figure out when they have accumulated enough.. and even if they have accumulated enough, it would seem quite dumb to be selling large portions of your holdings at $100k or at any other price... so guys need to consider some kind of a BTC maintenance plan (once they reach their BTC accumulation targets) that does not devolve into trading and/or selling large portions of their BTC without any kind of insight in regards to how to deal with their planned sales in light of where BTC prices might be going and adequately preparing themselves for either BTC price direction.