Quote from: Notalony on December 07, 2024, 09:12:06 AM

Quote from: Olatundespo on December 07, 2024, 08:27:44 AM

Quote from: JayJuanGee on December 07, 2024, 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. 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. 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 have been going through this thread for quite some time now without posting, but on seeing this and with the little I have learnt here, there is nothing wrong buying aggressively without over doing it even when the price of Bitcoin is high but it must be within your discretional income. What is your definition of high BTC price when we know that what is considered to be high price today can seen as a dip price tomorrow, perhaps you are only buying a fraction just buy as much as you can without over doing it, these are one of the things i have learnt here.

You are absolutely right, some people don't know that's why they are selling their Bitcoin hoping for it to dip for them to buy again not knowing that it is possible for Bitcoin to skyrocket or pump from this point and then dip maybe the previous point it pump from or it may not even dip to that point. Even if someone invested in Bitcoin some months ago before Bitcoin take this uptrend one shouldn't sell all his or her coin perhaps they should just sell some and still leave some and later continue there accumulation and holding so that it won't be like they are starting afresh because starting afresh is always hard and it requires a lot of determination and of course consistency to grow back again.