Re: Buy the DIP, and HODL!

Quote from: JayJuanGee on January 02, 2025, 09:44:29 PM

Quote from: EarnOnVictor on January 02, 2025, 07:59:04 AM

I love this. The DCA approach is just an approach, there are many other approaches to invest wisely, the main consideration is for the asset to be trusted. Thankfully, Bitcoin is a trusted asset and investing similarly to what you explained helped me mainly between 2022 and 2023, and part of 2024.

What I did was to convert almost all the money in my bank account to Bitcoin, I only reserved about $100 (after conversion), it was crazy Wink

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I continue to deposit about 85% of any money that enters my account into Bitcoin those years. I practically made Bitcoin my true saving account and it even helped me to avoid unnecessarily spending for I was so determined to do it until a point in 2024. I am happy about this approach today because I wouldn't have done more if I only stuck to a DCA approach.

Sure, there is nothing wrong with front-loading your BTC investment, when you are able to, yet not everyone is in a position (either financially and/or psychologically) to front load their bitcoin position. They also might not have good cashflow management skills in place to just jump straight into bitcoin with seemingly high allocations that might be appropriate for your situation, yet less appropriate for others, including that many folks have difficulties even saving/investing 10% of their income, so sometimes they may well need to walk before running to merely get used to setting money aside for investing/saving, whether in bitcoin or otherwise.

Personally, I suggest that beginners to bitcoin can come in with 5% to 25% of their income into bitcoin, yet they surely have to figure out if even my own recommended range works (and is appropriate) for their personal circumstances, and in the end each person is responsible for his own choices of both whether to invest in bitcoin and how much, and surely many of us suggest to get off zero and to get into some kind of a beginning range (such as 5% to 25%), yet there still is an overwhelming majority of normies who are still stuck at either zero or very low levels of allocations to bitcoin.

I agree with this although it may not be a problem for some people to buy the money they have even up to 50 percent or even 85 percent as stated earlier if they can afford it but in the end not everything can be done impulsively like that because especially for those beginners who have just joined the investment, Although sometimes things for beginners they prefer to do with an action where they will buy without thinking because their confidence and enthusiasm are still very large but in the end with all the risks they have actually let about 85 percent bought directly from the beginning it becomes a very difficult choice in the end because we still have to continue living life and we must realize that the focus of investment is for the long term so that when we put 85 percent for investment and the remaining 15 percent for daily life needs before we get back income from income or salary it is too risky in the end.