I definitely agree with you because you don't need to wait for a dip period to invest into Bitcoin because deley could be dangerous the best time you need to invest in Bitcoin is now so when it gets to the dip period you can actually get your return on investment
One thing we need to know that Bitcoin is that it grows in value over time so in terms of investing you don't need to wait till the price of Bitcoin gets to a million dollars before investing now is the best time to invest into Bitcoin
Delays are not dangerous, it's the ignorance and greed that are, in my opinion.
Nothing wrong with buying Bitcoin later - even if the price would differ, if you would apply hodling it appropriately, everything would still be fine.
If you have a steady income and discretionary income, there is no need for you to delay your bitcoin investment or try to buy bitcoin later when you already have the money to invest in bitcoin now. Delaying your bitcoin investment when you already have the money that would have allowed you to invest in bitcoin comfortably will likely make you not to invest in bitcoin when you are ready. Because if the price of bitcoin is very high at the point when you want to invest in bitcoin, you will see it like you have missed out on bitcoin, and it will likely make you not to invest in bitcoin again. Since you cannot possibly buy the quantity of bitcoin you want to hold for the long term at once, it would be better for you to kick-start your bitcoin investment now so that you can start the journey of accumulating the quantity of bitcoin you want to hold for the long term.
The price of Bitcoin can never be too high to the point that it will make someone not to invest because if you check the value or price of Bitcoin some years back you will see there's so much difference between then and now and yet people are still investing it do you know why because as the price of Bitcoin is changing or increase so is some human being increasing and changing (financially and others) so there's no level Bitcoin will reach that people will not or can not invest in so long as the DCA method still exist and secondly the price of Bitcoin can never make someone not to invest unless the person is not serious about it or the person doesn't want to invest.
You are likely getting distracted if you are attempting to assess bitcoin's price trajectory based on selective spot price points.
If you look at the 200-WMA, you may well be able to appreciate bitcoin's price dynamics a wee bit moar better. Perhaps? perhaps? Not everyone is able to appreciate bitcoin without getting overly distracted by various short-term price movement ideas.
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Mate, I would suggest you read the quote from @Mayor of ogba again. You are correct, but you may not have fully understood what @Mayor of ogba was trying to convey. You should try reading the quote again and understanding it better. He did not say that Bitcoin will become unaffordable to the point where no one will be able to invest. Rather, he said that, in the long term, you will not be able to buy all the Bitcoin you want at once. Without a doubt, this is completely true.
We all have big dreams or long-term goals when it comes to Bitcoin investment, which may not be achievable in a single day. For example, let’s say you’ve set a time frame of 3 cycles (12 years) for your investment, and your goal is to accumulate 100 Bitcoins in 12 years.
Holy shit Jewan420!!! Are you even trying to be somewhat realistic?
A more appropriate example would be trying to accumulate 1 bitcoin or perhaps 2 bitcoin in 12 years.
Sure there are rich folks, yet many normal people might even need to consider how they might accumulate 21 million satoshis in 12 years.
By the way, just to give context, even a person investing $200 per week, he is ONLY going to be able to invest around $130k over 12 years. So do you think that the average price per BTC is going to be less than $130k? If the average price per BTC is less than $130k, then the person investing an average of $200 per week over 12 years would be able to accumulate 1 BTC. Good luck with being able to invest an average of $200 per week over 12 years and good luck with BTC price staying on average less than $130k for that period of time.
It seems unlikely from my perspective...and so you are wanting to suggest 100 bitcoins in 12 years? hahahahaha Who the fuck has that kind of a budget? That would be $20k per week. Do you know people with that kind of money? I don't. Not even extremely rich people. By the way, $20k per week for 12 years would be right around $12.5 million.
Now, imagine from your position, is it possible to buy all 100 Bitcoins at once? Perhaps you are a wealthy person, and you could afford to buy 100 Bitcoins at once. But you need to keep in mind that the more wealth you have, the bigger your goal will be. This is similar to what we see with top Bitcoin investment firms like MicroStrategy. Since they own large amounts of money, they are capable of buying 10k+ Bitcoins at once, and they do so. In this case, their goal is also very large, and they cannot fulfill it all at once. So, they continue to invest consistently using Dollar-Cost Averaging (DCA).
Yeah.. buying 100 BTC right now is $10.4 million, and surely $10.4 million in 12 years might ONLY be worth around $3 million in todays dollars. But yeah, investing $20k per week may be easier than coming up with $10.4 million, even though it still would end up in $12.5 million invested over 12 years, which still would probably not get you 100 Bitcoin as I outlined above the need for BTC to stay on average below $130k for the 100 BTC to be accumulate in 12 years for $20k per week.
The essence of @Mayor of ogba quote was: you will not reach your goal all at once. To reach your goal, you need to be consistent and make multiple investments in Bitcoin. Therefore, you should not delay your investment just because you can’t buy it all at once."
This part is a fair point, even though your example (@Jewan420) kind of sucked for the reasons I stated above.
This is true. But investment is by choice and willingness. Someone might be financially ready but not mentally he is not. It might be that he needs to know one or two things about Bitcoin investment before jumping into it. However, getting little knowledge does not take long one or two days is enough so that shouldn't be an excuse. I also notice that many persons due to other failed investments they have done in the past still have this fear in them on investing into another asset like Bitcoin. Well, such persons should guided and mentored so that they can overcome the fear and start their investment.
Mental preparation for Bitcoin investment is just an excuse. If you are financially ready for Bitcoin investment and have basic knowledge, then you can invest without hesitation.
mental preparedness is not an excuse and from the standpoint of @Stablexcoin, his explanation makes a lot of sense as to why should be prepared before jumping right into investing in something he likely lacks some basic knowledge on. at the start of an investors journey, there is always the anxiety on whether or not one should invest in certain asset and when you don't have a strong resolve, even after investing, chances are that you might be forced to selling immediately there is a market downtime. that will not be the case if you are mentally prepared and understands the nature of the market condition and how that it can have effect on your responsiveness to the market condition.
even though at the start you don't have to give excuses of lack of knowledge as what is holding you back from investing, getting the necessary knowledge and being prepared that you are investing for the long term will see you through the early phase of doubt that might arise if the market fluctuates at some point in time.
To sustain your investment in the long term, you need to gain knowledge later, which is definitely after you start investing, and you should not delay investing for this knowledge. If you delay investing to learn more beyond basic knowledge, you are making a mistake and missing out on buying opportunities.
one thing that we should know about the stand of most persons when they are just getting started in their bitcoin investment is that anyone that is really ready to invest will certainly start investing even if they don't follow all ideal process and even if it takes them too long to know a lot of things that should normally help them start investing well. like you have said, and which is partly a similar opinion @Stablexcoin shared, what you just need is basic knowledge about bitcoin and then you can just get started. as long as the resource is available and you have a set out plan that works based on the peculiarity of your income flow, the rest of the knowledge can come pretty later while you have already started investing.
like the idea of setting out emergency fund and some reserve and back up funds, even though they are necessary for successful investment in the long run, a starter might not have the means to setting all of them in place before getting started but can just start whichever way he can while when he has gotten his stand as an investor, he can then find a way of sorting those kinds of things out. trying to set everything perfectly is a recipe for procrastination but then, you ought to be mentally prepared that your investment is for the long run and that you are not just coming in just to zoom off at no time.
I agree with everything you are saying Marvelockg, except you seem to be presuming that bitcoin mental resolve needs to be built prior to investing in bitcoin, which it does not.
Mental resolve is surely a category that needs to be built, but it does not need to be present prior to getting started,and in some sense, some of us might be really whimpy and skeptical about bitcoin, yet that does not cause the answer to invest into bitcoin to become "no", but instead it may well just inform us that we need to select a position size that gets us started so that we can build our bitcoin resolve, and surely for some folks their initial position size in bitcoin might be $10 and then the next week another $10.. and so then there may be time to look into bitcoin further or not, and perhaps no resolve for several weeks, but continuing to put $10 per week into bitcoin.
Perhaps with the passage of time the bitcoin resolve starts to get stronger in order to begin to invest larger amounts, and perhaps the resolve remains weak..for a period of time, and surely we cannot force resolve, and even some folks might realize that they have to spend some time to help them to fix their own resolve, and if they are not working to build their resolve, they might either be stuck with $10 per week or abandoning their intention to get involved in bitcoin.... So surely there are going to be some folks who take a while to build resolve, and that building of bitcoin resolve is on them and may well end up costing them in regards to their chosen whimpiness in their bitcoin investment, even if they had ended up answering the whether to invest into bitcoin correctly, they still did not end up building their resolve, and surely I am not going to proclaim that having bitcoin resolve is a prerequisite to investing, even though surely having resolve is likely going to assist the whimpy into becoming more aggressive to their likely advantage down the road...and I suppose that I am just proclaiming that getting started can help to motivate in the several ways that you mentioned, but also help in the learning that bitcoin is an important investment in which position size needs to be increased...and to figure out various ways to accomplish such increase by making sure cashflow and discretionary income is being used and figured out so that perhaps $10 per week can be moved up to $50 per week, and then perhaps a bit later to $100 per week or more, and even later to reconsider how to allocate portions of lump sum bonus monies as they might come into additional cash flow from time to time.