Quote from: Ruttoshi on Today at 07:55:31 PM

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Quote from: Sim_card on November 20, 2024, 05:28:55 PM

Quote from: Cryptoprincess101 on November 20, 2024, 04:32:52 PM

The truth is just that there are folks who has mapped out plans on how their investment in bitcoin will go for them but along the line, an unforeseen circumstance might just pop out such that it will become a kind of distraction that may lead an investor to deviating from the original plans he had while making his investment. Even if we have set out strategies on how to go about during our accumulation stages, we should not completely ignore the possibility of uncertainty since we are basically acting based on assumption and speculations.
Those who allows themselves to be persuaded and convinced by what they hear are basically those who have little knowledge about bitcoin investment and those that are too lazy to make research of their own to find out if what they hear is actually how it ought to be.

It is sad that after all this struggles at your youthful age, you didn't have anything to show for it when you are old. There's a say that you will reap what you sow, this is directly pointing towards how you take the opportunity you had to know about bitcoin serious and invest in it. If you invest in bitcoin and grow your portfolio the right way overtime, you will be happy that you did it, but if you get distracted by whatever kind of gambling act, you will regret it in future when other are reaping heavily from the profit of their bitcoin investment.

This is why long-term investment is the best when investing, build and grow your bitcoin portfolio with consistent and persistent weekly DCA for 4-10 years and above without any doubt or distraction, because I feel that the longer you are getting in your bitcoin journey, the more confident you will have to hodli for long and grow your stash. Time waits for no man, likewise bitcoin price waits for no man, because soon the government will start buying aggressively, acquire more and don't be satisfied with the little that you have. See your bitcoin investment journey as a wealth building game.

I think you misunderstood cryptoprincess point above. He's not referring to doubting bitcoin investment or getting distracted with your investment. He's probably referring to immature selling of your bitcoin investment due to unforseen circumstances and this will shorten your investment journey despite having a clear objective and strategies for your investment.

Unforeseen circumstances can never be avoided thou but I don't really see it as an obstacle to someone from reaching the goal set aside for their bitcoin investment. There is something we called contingency plan and while designing your planning prior to beginning of your investment, contingency plan is very necessary as it is going to handle possible circumstances while your investment remains intact.

Unforeseen circumstances must be part of your investment plan when you are starting your bitcoin journey by setting up an emergency funds to take care of such problems. If a new investor does not have an emergency funds in the beginning of his investment, he can set it up with one part of his discretionary income and use the other to be investing in bitcoin along side. Your emergency funds should be at least three months of your monthly salary.

Any investor who does not have an emergency funds and is investing in bitcoin is gambling because when a real emergency arises, he will sell part of his bitcoin at loss even if the price is dip because you must solve such emergency.

Since bitcoin is a long-term investment, setting up emergency funds or building up emergency funds as you are accumulating bitcoin is a very important thing to do because it will help you to sort out your unforeseen problems anytime they arise, which will allow you to hold your bitcoin investment for the long term because you will not depend on your bitcoin investment to do that. Any investor who doesn't make provision for his emergency funds as he is accumulating bitcoin has a big possibility that he will end up selling his bitcoin investment to survive because, at some point in your accumulation journey, you must need a new thing in your life to enhance your productivity, and if you don't make provision for emergency funds, there is no way you can make that happen or achieve that, and it might force you out of the game, partially or permanently.