You can aswell get those proper knowledge when you have already started buying bitcoin because i believe you will know more when you are into proper with your little knowledge at first, bitcoin investment is not too hard to know as people may think first thing is to get started when your Discretionary income is ready to avoid procastinating while trying to gain proper knowledge.
It's not too hard, yet people may be inclined to drop their bags even if they see even a bit of red.
To avoid this, knowledge should be built up beforehand.
Building up bitcoin knowledge before you start investing in bitcoin will not even save you from not selling off your bitcoin portfolio if there's a dump in bitcoin price. Even old investors who have built up knowledge about bitcoin ended up selling off their bitcoin portfolio before a dump could happen because they invested in bitcoin in the wrong way or aggressively, which put them in the position of not meeting up with their daily demands all the time. So even though you have good knowledge about bitcoin or not, before you start to invest in bitcoin, if you want to hold your bitcoin portfolio for a very long time, you have to invest in bitcoin in such a way that it will not stop you from sorting out your daily expenses all the time, and for you to do that, you have to use your discretionary income or the money you can afford to lose to invest in bitcoin since the money is not allocated to solve any of your daily expenses.
You are complicating the whole point you are trying to make, if I may ask how will someone that has a ground knowledge on what Bitcoin is all about and how it operates will invest what he can not afford to let go I mean that is really impossible because I haven't seen such case unless if the investor is a greedy investor that wants to make huge profit within a short period of time else someone with good knowledge of Bitcoin can not do that and they can not even sell unless they have been holding for years and maybe there portfolio is very handsome and if that is the case, them selling is not wrong because we can not keep storing forever without selling.
Whenever we are trying to describe various bitcoin investment principles and practices in general ways, there are going to be areas of interpretation, and also areas in which some folks may well decide to make differing choices, which may well turn them into a trader rather than an investor or to end up selling too much bitcoin too soon or maybe by screwing up their cashflow management, in terms of believing that they are merely investing aggressively, but they accidentally end up going overboard and investing from money that they actually needed for their expenses.
Each of us make these kinds of balances, and we are not necessarily going to agree what might be better practices in general ways or even what might be better practices if we might happen to know the individual circumstances of another person.
We can make some general statements about bitcoin being a superior asset, and we can also presume that many folks are not accustomed to making investments, so there is some learning that likely needs to take place and to be adapted to bitcoin. We likely can presume that fairly early in their lives, many folks learn some forms of cashflow management in order to try to account for keeping their expenses within their income, and surely some folks have better cashflow management skills than other folks.. .
And so if many normal folks get into bitcoin, they may well need to buttress some of the skills that they may well already have in order to make sure that they account for bitcoin as a long term investment rather than as a trade - even though surely some folks might come to bitcoin considering it as a trade, yet the more they learn about bitcoin, they might well end up coming to realize that since bitcoin is amongst the best of investments (if not the best investment), then they may well also end up coming to the conclusion that they would be better off to treat bitcoin as a long term investment of 4-10 years or longer, rather than treating it as a trade.
Yeah. Not everyone is going to come to thinking about bitcoin as a long term investment rather than a trade, and there are going to be varying degrees of benefit or even suffering that comes from the personal actions that come from their perspective and also hopefully come from their learning through practice and getting involved in bitcoin to actually learn what they may not know and clarify what they think that they know by putting investment into BTC into practice.
The current time is a period to buy more bitcoin, the greed index is still prevalent and everyone believes that the price of bitcoin will continue to rise, even those who sell now the intention that the price of bitcoin will decrease in the short term and is an opportunity to buy more bitcoin for the long term.
If you are an investor, it is an ideal opportunity to buy, and if you are in circulation, it is a good opportunity for sale and purchase at a cheaper price in the coming weeks.
When you have the money in your bank account, you can buy at anytime. There are some people who don't know that they suppose have the money in their bank account before waiting for the right period to come before they can buy BTC and hodl.
You can buy BTC at anytime from the market, when you are financial buoyant because the price of BTC will not remain in that particular price you buy the BTC, but if you don't have enough money with you, exercise patience for bear market to occur before you can buy BTC which is the best period for you, and it will give you opportunity to earn good profit in the future.
At this current price in the market, is not good to rush to the market to buy BTC now because it will still drop again to reach $70k within this month, which it will give many investors the opportunity to buy more.First of all, for some reason, you, Zanab247, are responding to a post that is about one year old, and so the market conditions right now are different from what they were in March 2024.
Also, even if we presume that you might have been engaging in a good faith discussion, there is no way for you to know whether right now the BTC prices are going to drop from here or not. If you are a no coiner or a low coiner, it may well be advantageous for you
to rush and to buy bitcoin as soon as possible, and to make sure that you have bitcoin buying systems in place to buy bitcoin as aggressively as you are able to accomplish, without overdoing it.
Now sure, with you Zanab247, you have had more than 4 years registered on the forum, and sure it could be possible that you have personally been able to invest aggressively during your first cycle in bitcoin, and you might have the luxury to wait for BTC price dips that may or may not end up happening.
Personally, I tend to believe that most folks are still not even able to accumulate enough bitcoin in a full bitcoin cycle, even if they might have had been able to consistently be somewhat aggressive in their bitcoin accumulation. Even if we take your case specifically, and if you had been able to invest somewhat aggressively at a rate of
$200 per week since the beginning of November 2020, you would have had invested $45k and accumulated 1.3 BTC, which surely might not be enough even if you might have relatively modest goals of wanting to achieve a passive income from your BTC of around $50k per year, which I would think that such a person with a goal of
$50k per year, would still need to have around 10 BTC in order to get to such status.. .at least currently.
Of course, it is possible for some folks to front-load their bitcoin investment and to make progress faster than other people, so there could be some circumstances in which a person who is merely just passing a full bitcoin cycle might have had been able to reach a bitcoin accumulation level in which it makes sense for him to wait for dips rather than just continuing to buy at these current prices that may well already be considered as dip prices (to the extent that dip prices even should matter for no coiners and low coiners).