Quote from: Tmoonz on Today at 06:24:26 PM

Quote from: _act_ on November 21, 2024, 09:05:04 PM

It is better you invest low amount of money on bitcoin right now. If your salary is $400 monthly, you can be investing like $20 on bitcoin which is 5% of your monthly income . The price is high already but there is tendency that the price might go up. If you can be patient, wait until the next bull market begins after the coming bear market to invest more. I may not be absolutely right but that is my opinion.

As for me I think the waiting strategy is very wrong especially if the plan is to buy and hold for a long time, irrespective of the price points one can still buy Bitcoin at a fraction within the available discretional income, for a newbie I will advise him not to make an investment decisions under pressure or fomo, Bitcoin has a very long way to go such that the price we are seeing today might not be seen again or will be seen as a dip tomorrow, it is best he get the fucking started with the basic knowledge and invest with an amount he can be comfortable with either weekly or monthly after ensuring his other living expenses are taken care with a provisional emergency funds.

If you are doing a lumpsum strategy I guess nothing wrong for doing that, But if you are doing DCA well maybe that is statement really have a sense. And it differ on the strategy used by a person and actually there's nothing wrong with that especially if their main intention on each action they do is to hold their bitcoin for long term. I agree that bitcoin has many more to offer and people should not get scared about the past dips and if they look at the past price also the current recovery happen they could determine that there's really nothing to get scared of to take action if they are dealing bitcoin chance for good recovery after correction happen is really possible to happen.

People should start and eliminate their doubts since this is their number one enemy, what they need to do is to take action regarding on investing on bitcoin and just learn other more important information also other things need to tackle. What's important for now is they should start since doubting will not result to any good results to anyone.