Post
Topic
Board Speculation
Re: Buy Buy Buy or Sell Sell Sell?
by
Jewan420
on 29/01/2025, 14:22:26 UTC
To invest in Bitcoin, each of us first needs money.  If someone has a high income, he can also invest and if anyone has low income, he can also invest. The only difference is on the amount of investment in Bitcoin. If those still think that their earnings are not enough to invest in Bitcoin, then they should choose this method. For example, the amount of money he is making should stop his bad costs or to stop extra costs. That person can easily invest in Bitcoin with their bad spending money, even if it's a small amount. If that person can invest $10 a week, it will be up to $40 at the end of the month. So even if there is a source of earning a small amount of money, then everyone can start investment on Bitcoin.
Are you talking about short-term investment planning? The way you are talking is not ideal for long-term investment. By giving up excess/bad expenses, you may be able to select a small amount for investment, with which you can manage the investment (in the DCA strategy). But are you forgetting investment protection strategies like backup funds? Just investing does not make you an investor, you also need to plan for long-term holding.

If a person feels that his income source is not enough for investment, then I think it is more important to look for a prudent/alternative income source than to start investing. Because, the main basis of your investment is the source of income. If the main basis of investment is not enough for investment, then how will your investment survive or last long? It is natural that you can allocate for investment by reducing bad expenses, but if the investment is dependent on that money, then you may be planning wrong.

Yes, you can reduce your expenses if you want, it is your personal choice or freedom. You may be able to add extra money to your investment fund by reducing expenses. But when you are not able to save money for investment after meeting daily needs and are planning to invest by excluding bad expenses of needs, then it is not a prudent source of income at all. The first condition of investment is to have a prudent source of income.

Yes, if you earn less money, manage your investments with less money, but your surplus is enough for investment, that is, a prudent source of income. How do you prepare backup funds if you save $5 a week and invest $5?