Quote from: Zanab247 on Today at 06:16:40 AM

Quote from: cryptoWODL on December 06, 2024, 03:32:41 PM

Quote from: Tmoonz on December 06, 2024, 01:07:56 PM

Technically this might not be a good advice for a newbie, making an investment decisions based on the current market trend is not actually a good one,

It is not really good to make investment decisions based on current market trends, your comment may be confusing for new investors. One of the first few things that a new investor should know before starting to invest is buying bitcoins immediately. Many of the biggest investors in the world and most of the members of this thread have repeatedly said that Bitcoin can be bought all the time, there is no special moment or best time to buy Bitcoin.

Considering the current market price can help investors to make a good decision, that will bring good profit to them in the future, hope you know that, this is decentralized investment which anything can happen at anytime for people to change their decision toward the situation in the market. Investors should know that buying BTC in the bear run give people more opportunity to earn massive profits from the market, when the bull run occur in the market, you can see the majority of investors that are happy in this current price that hit $102k few days ago, and those are the investors that took their decision to buy BTC when the price was low some years ago before they decided to trade them in this bull season.

You can buy BTC all the time when you are financially buoyant, don't forget that all investors are not equal in this industry, and it will be favourable to buy BTC in the bear run because there is a chance for investors to boost their profits in the bull season.

You are not better off to trade if you are poor versus if you are rich.

If you are poor, then probably it is even more important to resist the temptation of trading and to continue to build your bitcoin by buying only. Selling is not a good strategy if your goal is to accumulate more bitcoin (and presumptively to move yourself out of poverty and into a better financial and psychological status).

Also, you are using the term investor to refer to a trader, since an investor does not need to sell his bitcoin in order to stay invested into bitcoin and to continue to accumulate (and build) his bitcoin stash.

Quote from: Olatundespo on Today at 08:27:44 AM

Quote from: JayJuanGee on Today at 05:07:55 AM

Quote from: Olatundespo on December 06, 2024, 03:17:09 PM

Quote from: Tmoonz on December 06, 2024, 01:07:56 PM

[edited out]

In the current market, buying for new investors may not be aggressive as the price trend is upward, but it is important to ensure proper use of money so as not to necessarily add discretionary money to the buy of Bitcoin.

You sound confused, Olatundespo.

First, if a a person is a new investor then presumptively such person either does not have any bitcoin or has low amounts of bitcoin, so if they are going to prepare for up, then they need to buy... so I am not sure why you are suggesting that the BTC price would necessarily affect their level of aggressiveness. Sure, their not being clear about their cash or about their level of discretionary income might affect how aggressive that they are able to be, but not the BTC price.

Second, you seem to not know what is discretionary income, since you are saying that discretionary income should not be used to buy bitcoin, when actually the opposite is true.

Discretionary income is the amount of money that is left after accounting for expenses, so any bitcoin that is bought should ONLY come from discretionary income not from other money that might be needed for expenses.

Your advice will help me to be a good BTC depositors to explain more clearly. I may be a little wrong in explaining but what I want to say is that a new investor should buy aggressively from his disposable income and not rush to make a buying decision through market analysis. Aggressive buying during high BTC prices may not be a good decision so I would at least start with small savings (DCA) method.

You are still getting obsessed with BTC price, which as I already mentioned is only one component of an individuals 9 factors, and it is much more important to make sure that solid cashflow management systems are in place, and then at that point determine how much of a guys discretionary income that he is going to want to use to ongoingly buy bitcoin.. whether he is going to be aggressive or whimpy would be within the range of how he is choosing to manage his discretionary income and how he is going to hold such money including how much of it to spend on bitcoin weekly and whether he is holding back any for buying on dips... which truly holding back to buy on dips will not necessarily be a good strategy for newbies, yet they are free to do whatever they like, even if it is dumb.

Quote from: Olatundespo on Today at 08:27:44 AM

There should be no mistake in depositing BTC from discretionary income aggressively or (DCA) and not regret it even if the price drops further. Although the chances of dumping too much are very low.

BTC prices can dump at any time, so if a guy is buying weekly, then he is likely to buy during such dumps, and sure there can be ways to try to make your weekly DCA buys and to attempt to buy during dips, yet at the same time, it might not be a good idea to hold back very much value for buying on dips when a guy is still very early in his BTC accumulation journey, yet if a guy has been building his BTC stash for a while, then he might be in a better position to set aside some value for buying on dips and to maintain some money that sits on the side for buing various levels of dips.

Quote from: Olatundespo on Today at 08:27:44 AM

The money I can lose or even if I am stuck in the portfolio for years will not have a negative impact on my general lifestyle. If I had floating disposable cash fund. BTC allows me to be optimistic to deposit more when credibility is high as long period.

I am not 100% clear about what you are saying here, yet surely if you continue to build your various back up funds, then you are going to be in a stronger position, and if we get back to you, as an example, then you have ONLY been registered on the forum for less than a year, so if you have been simultaneously building your BTC stash and your back up funds over the last year or so, then surely you are going to put yourself in a stronger and stronger position in terms of your abilities to be more aggressive in regards to your regular BTC accumulation, whether you do it weekly or on some other timeline.

When you have your various BTC buying and also cash back up systems in place, then you would be in a stronger position to know what to do if you suddenly have a lump sum come available to you, and you could decide which portion to buy BTC right away, which portion to set for DCA and which portion to set for buying on dips.

Quote from: coinlary on Today at 03:29:19 PM

Quote from: HajiBagi on Today at 12:34:32 PM

Buying Bitcoin is not a problem but having a good mindset before doing that, many people will think that buying Bitcoin when the price is still high is a wrong movement but in terms of Bitcoin there is nothing like that because the price of Bitcoin changes any time, you can buy Bitcoin and in the next day the price will reduce or increase and that is the nature of Bitcoin no one can predict it.

As long as you are capable of doing what you want then you can go ahead, you can be told to not buy when the price is high and within a minute the price will increase and that will make you feel like the person doesn't give you good advice, people who are become a successful people today in Bitcoin didn't think negative about Bitcoin, so Bitcoin deserves a good mindset before taking any step.

Mindset works but most investors buying High are FOMO investors, only few are not FOMO investors because most of this investors had the opportunity and heard about bitcoin earlier before the high.
When Bitcoin went from 60k+ to 48k , most of this investors didn't buy thinking it has ended, same goes to the price drop from the major resistance at 69k to 73k they didn't take the chance, now they FOMO tops and I am still sure that they would still contribute to the price dips by selling in loss .

It is not necessarily true that a person who heard about bitcoin earlier and did not buy and then decides now to get into bitcoin is a FOMO investor, even though you are not completely wrong in that characterization. Some folks do not get motivated to invest until they see the BTC price moving, and then they realize that they need to get started and to stop procrastinating (or ignoring or downplaying) the importance of bitcoin. So surely UPwards price movement does get the attention of people, and upwards price movement even puts bitcoin into various kinds of news feeds, so it becomes harder to ignore since everyone starts talking about the upwards price movements.

So a lot of people might get started investing in bitcoin based on the upwards price movements and even end up starting their investment at the top (and perhaps the BTC price corrects and does not return to the top prices for 3 years or more).. yet with bitcoin it is better to get started by buying rather than waiting, even if the BTC price might be at a local top or even a long term top... if a person has a 4-10 year or longer investment timeline, then he needs to get started at some point, and surely BTC prices moving up can be a motivator to get started, establish a plan and start buying regularly (while also potentially fixing one's cashflow management practices at the same time).

Quote from: coinlary on Today at 03:29:19 PM

I'm not saying investors shouldn't buy high but if truly they are willing to invest then they must put it at the back of their mind that dips might be experienced which might put them in loss at first before they can start seeing profit since they bought at a higher price , some might be lucky without experiencing any loss at first (minimal but unavoidable) and IMO they can try DCA , BTC price is not only going in one direction , DCA can give them opportunities to catch dips as well as different price entries .

I agree with you here.. so yeah, anyone buying when the BTC price is going up should understand that it could dip and they might be buying at the top, and they could get stuck in a downwards price spiral, and that is part of the chances that they are taking in regards to when they decided to begin their bitcoin investment journey. It still seems better to get started by starting to buy rather than employing waiting as their BTC investment strategy... especially if they don't have any BTC... since the ONLY way to prepare for UP is to buy some BTC, and waiting is not good investment strategy, especially for a no coiner or a low coiner... and surely one of the ways to mitigate any situation is to start and then to establish some strategies in regards to position size... and surely when not sure, DCA can be one of the strategies to start with a weekly DCA amount that seems reasonable, study bitcoin along the way and study and put into practice good cashflow management practices, so then those cashflow management practices will help to inform any such newbie in regards to his position size and his ongoing strategies and practices to achieve his position size goals.

Quote from: Tonimez on Today at 04:53:27 PM

Bitcoin investment is such a trilling venture. Everyday comes with it's surprises. At 63k per bitcoin, a lot of investors felt it has surged amounting to withdrawal of investments and not willing to buy. But recently we can all see that bitcoin cannot be predicted since it goes down and up always. Achieving this all time high of 100k has left many investors dumbfounded. In as much as it's better to invest discretionarily, it has also shown its tendencies of changing ones life with a further push.

In 2011, BTC was at about 0.004k. many leased off and returned back later to buy at over 8k when the prospects grew higher. Bitcoin has come to stay and a day will come when we will record another all time high of 200k.

You are not wrong in your various observations. But what are you doing, Tonimez?