Quote from: Jaycoinz on Today at 12:37:11 AM

Quote from: Agbamoni on November 30, 2024, 08:54:47 PM

Quote from: Y3shot on November 30, 2024, 07:13:59 PM

Only those who invest what they can't afford would be scared of volatility and the reason for DCA a method is for investors to just only buy the amount of Bitcoin that they afford, this helps in accumulating bitcoin without any stress and with this method of investing their is no need to be scared of the volatility of the market because you are not expecting profit in a short time. DCA method of investing is a longterm investment which you don't have any business of volatility for profit so soon, you only just take advantage of the dip whenever you come across it because it is also a good opportunity for investors to but during the dip. DCA method of investment is all about buying bitcoin at the rate which you can afford and no need for fear of volatility because it is not an investment one is depending to make profit very quick .

You make a great point. An investor should probably know how to retain and increase purchasing power if not volatility will be a thing that they know of but will be scared of. And even in DCA investors might get low on funds in purchasing Bitcoin with the actual amount they've been using. Most times it is a result of lacking a steady stream of income which may be that they lost their job without having a business or any other investment to tap from. To be more realistic, investors and aspiring investors should have a decent approach while investing. They need to be smart and watch the source they get the money they use for their investment. Whenever we feel uncomfortable with our investment, we can have a shift in the amount we use in investing so we don't crumble our business or do anything that will affect the source of our income. While accumulation is important if we see a means to make more money than we can venture into it after making observations and having our conclusion on it. This doesn't mean we get to stop our accumulation entirely. Rather we can reduce the percentage we use in investing so we can get things right and working smoothly for us. Although it might take some period for the business or investment to start yielding something for us. In the end it's still a better approach.

There is a reason why it's basically said before investing in Bitcoin you should atleast have a Workin jobs that can atleast cover for some expenses, and also have different saving plans like emergency funds, and other discretionary funds so you get affected or need to lower or temper with the amount you are using to buy the Bitcoin or the saved up Bitcoin.

Yea, it's true, I think these are what it entails to be sound and effective in not just your Bitcoin accumulation journey, but also your ability to hold strong even in the face of financial crisis you may encounter at some point along the line in your Bitcoin accumulating and investment journey, so having a source of income or more and an emergency funds kept aside is the ideal recipe needed to buy and hold strong because patience alone is not enough as a Bitcoin investor.

Then lastly, as a Bitcoin investor, it's best to invest with the mindset of holding for a very long period of time, because the way Bitcoin is being structured, in other to reap the full dividend of your Bitcoin investment, it's best you hold for a very long period of time, because the more time's flies, the more Bitcoin appreciate in value.