Quote from: sportbitcoin on Today at 03:16:43 AM

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

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.

The easiest way to invest is to start with the DCA method. I will not invest the entire amount of money from the money I have to invest, but I will keep some money for myself so that if the invested coin dumps after investing, I can use the money to recover the loss through the DCA method. Those who are smart always invest through the DCA method. And those who invest in a new situation often suffer from big losses due to not understanding the DCA method.

You are choosing to combine DCA with buying on the dip, and sure there might be some value in that both psychologically and financially, yet it is not guaranteed to be better to be holding back value rather than buying more aggressively with your DCA.. ... yet for sure they are discretionary issues whether you buy everything through regular DCA or you hold back some value for buying on dips.

Your forum registration shows that you came here in October 2023, which was around the beginning of our latest rush upwards, and surely if you had invested as much as you could in October 2023, you would have been better of than DCAing.. yet at the same time, many of us recommend DCA since it tends to be amongst the best of BTC accumulation methods in terms of practicality, especially since a lot of regular people do not tend to have large sums of value that they can lump sum invest into bitcoin, so it tends to be better for them to buy as much BTC as they can soon after their money comes available... or some other variation of DCA that might pace the buys out on a reasonable basis throughout the month as they might resolve some of their expenses and determine how much extra cash that they have available at various points of time throughout each month.

Your mere assertion that you are smarter because you are not following a strict DCA approach is not necessarily true, since it may well end up contributing to your waiting or strategizing your BTC buys based on anticipations of BTC price moves that do not end up playing out.. so for example, you hold back a bunch of value anticipating a dip, and the BTC price does not dip, so either you are left with the fiat, or you are left buying BTC at higher prices or perhaps you just become disgruntled and trying to double down to prove yourself smarter than everyone else, when you would have had been better off just to keep up your regular and ongoing buying of BTC persistently, consistently and perhaps even aggressively.

Quote from: SuperBitMan on Today at 03:35:54 AM

Quote from: JayJuanGee on Today at 01:01:16 AM

Quote from: As-Soon-As on December 08, 2024, 11:42:45 PM

Quote from: promise444c5 on December 08, 2024, 11:00:05 PM

Quote from: Pi$$ on December 08, 2024, 10:33:45 PM

~

Yet I can assure you that Fear is what is holding most of the investors who are yet to invest, back to investing in Bitcoin, they believe one day it will crash just as they've been believing since Bitcoin @10k Tongue

I hope they know they facked up when it hit the recent 100k...

That is why you have to take risks to invest and believe in Bitcoin, have you ever completed any work in your life without taking risks? I know that no work can be completed without taking risks. Just as all investors who are afraid to invest in Bitcoin will refrain from investing even if Bitcoin comes at a very low price, but those who are brave and risk-takers will definitely invest in Bitcoin at any moment if they have money.
Investing in Bitcoin requires courage and patience, which you can capitalize on to survive the investment, because in the past, when the price of Bitcoin was low, fearful investors were never able to invest, and they are only regretting it now.

It sounds problematic to be describing bitcoin as taking risk, when you are likely taking way more risk if you are not investing into bitcoin. Sure you have to learn things in bitcoin, and sure you have to figure out how to take action, including finding out how to source your coins and also figuring out how much of your discretionary income you are going to use to buy bitcoin on a weekly basis or whatever might be your investing timeline.

Bitcoin is risky, no one is certain what will happen in the future if it will keep growing or not so investing and not investing in Bitcoin are risky, when you don't invest now and later on in the future Bitcoin grew to a million you will regret not investing and if you invest now and later on in the future Bitcoin start dropping in price and value you will regret investing in it.
Now among this two which is more risky?
The most risky one is not investing, the reason why I said so is because the money you use to accumulate Bitcoin is actually your Discretionary income and your Discretionary income is the portion of your income that can be spent on non-essential items, such as wants, rather than necessities like food, clothing, mortgage, electric bill, water etc. Which means you could use your Discretionary income for fun for example going to parties just like some people do but you decide to invest part of that discretionary income on accumulating Bitcoin which may help you grow financially in the future.
Part of that money you are taking out week or monthly from your Discretionary income to accumulate Bitcoin is something that won't affect you financially so is less risky than not using it to accumulate Bitcoin.

It sounds like you are arguing against yourself, and I stick to my original position that using the term risk is problematic, and you even pointed out that the bitcoin investor can figure out position size in order to mitigate risk.

Quote from: MusaPk on Today at 04:00:14 AM

Quote from: JayJuanGee on December 08, 2024, 09:09:26 PM

Quote from: MusaPk on December 08, 2024, 05:18:00 PM

Already at 100k and it will go further up from here but we might see some correction in price, be ready for that if that happens.

How are we going to be ready? You are just saying mentally ready or are you suggesting some other kinds of preparations for corrections?

Apart from mental readiness, one must have some spare cash in hand that can help in buying Bitcoin if it falls back. After spending few years in bitcoin I am ready for all sort of ups and down. My trust in bitcoin is that it will go up in the long run.

Sure, if you have figured out some kind of a balance that works out for you in terms of the amount of cash that you hold back, just in case, then that is for you to determine.

At the same time, it may not be a great idea to hold back investing in bitcoin, so surely you must decide your own comfort level and live with the consequences in regards to whatever ends up happening in regards to how much bitcoin you are buying regularly versus how much dollars (or whatever your fiat might be) you might be holding back for the purpose of buying dips.

Quote from: MusaPk on Today at 04:00:14 AM

Quote from: JayJuanGee on December 08, 2024, 09:09:26 PM

Quote from: MusaPk on December 08, 2024, 05:18:00 PM

The way Bitcoin is going on at the moment it defiantly looks like it will hit 150k or 200k very soon. Being an analyst of Bitcoin price pattern for last few years, its my analysis that such huge rally is not possible and we might see correction in price anytime soon. Bitcoin is very ruthless in going bearish from bullish. In any case, we must be ready for all possibilities since we have seen lots of ups and downs of Bitcoin. Keep some cash ready in your wallet in case price goes down.

Your analysis sounds pretty weak. hahahahahaha

You are correct that the BTC price goes up and it can come crashing down, especially when it goes up very quickly in a short period of time.
Part of the problem that I see with your current analysis is that you are stating a widely believed perspective that seems to cause it to be less likely to come true.

Do you really think that the market is going to allow a bunch of newbies, traders and likely weak hands to come into bitcoin and then sell most if not all of their BTC at or around $100k and then conveniently be able to buy it all back at 15% to 25% cheaper. Bitcoin crashing at or around the place that so many weak hands are selling way too much too soon makes little to no sense to me, even though sure it is possible that it could happen, but it is not my base case.

My base case would be at least another 15% to 25% up from here, and then maybe a crash at that time (and maybe not). I hate to get too tied up in any specific scenario since it is best practice to always be prepared financially and psychologically for either direction, yet how any of us prepares depends on where we are at with our bitcoin accumulation, and so I am surely not referring to trying to trade as a way to prepare.

To me, it sounds like you might be talking your book. You already sold a decent amount in order to be prepared, and you are planning to buy back around $85k or whatever. Hopefully it works out for you and you are not getting distracted away from what should be your ongoing BTC accumulation focus.. which I would suggest at most just keeping a bit of extra cash to buy potential dips, while not really expecting any kind of dip around these here parts... but, hey whatever. You do you.

Weak hands are called weak for a reason. Trust me if they sell at 100k and bitcoin goes down by 10 or 20% these weak hearted people won't have the courage to buy Bitcoin at that dip. It's seen that whenever bitcoin goes up, new comers join in to book there profit while when market goes down they start saying Bitcoin is going to zero.
I have a plan with me which I have taken from here regarding bitcoin accumulation. I have to sell little of my holdings with time to meet my expenses but my major focus is still on accumlation.

If you are still accumulating then you should not be selling, but hey whatever, you can do what you like. If you are forced to sell regularly, then that likely means that you bought too much and also that you are trading (gambling) versus investing (at least with that portion of your holdings), and sure I don't see any problem if you at least limit the amount of trading/gambling that you are doing and keep your eyes on the prize which is bitcoin.