I believe that it will be a laughable week.
There will be those people that projected that the bull cycle "is over", who change their opinion to "Bitcoin will surge to ATH" next quarter.
What we plebs need to focus is to ignore the news/predictions/forecasts. Focus on the Bitcoin Weekly Chart with the 200-Weekly Simple Moving Average. Buy during those moments when the price of Bitcoin is near, touching, of UNDER that line. ¯\_(ツ)_/¯
If you are new, you likely need to buy all of the time for a whole cycle - and sure, it becomes problematic if a person comes into bitcoin at or near the top of a price peak in which the BTC price might be several times higher than the 200-WMA... so those kinds of newbies may well have a dilemma regarding their buying of BTC... yet if they are new and they are either a no coiner or a low coiner, they will probably need to get started buying bitcoin consistently, persistently, and ongoingly and perhaps they can make decisions regarding how aggressive that they are able to be in their bitcoin buying while they are making sure that they have decently good cashflow management practices in place and while they already have their sources for bitcoin buying already set up.There will be those people that projected that the bull cycle "is over", who change their opinion to "Bitcoin will surge to ATH" next quarter.
What we plebs need to focus is to ignore the news/predictions/forecasts. Focus on the Bitcoin Weekly Chart with the 200-Weekly Simple Moving Average. Buy during those moments when the price of Bitcoin is near, touching, of UNDER that line. ¯\_(ツ)_/¯
Buying the dip and hodl sounds so easy.
but is 84k the best dip last week it was under 80k
It is why dca is likely to be better. Anyway I added a good amount the last two weeks. I can add more this week. Maybe I will go back over a coin or so.
Of course, you are not the kind of newbie no coiner and/or low coiner regarding whom I was referring, even though surely some folks (perhaps even you?) engage in behaviors that seem to ongoingly keep them in a kind of newbie low coiner status.
Surely I tend to suggest that spending at least a whole cycle, or perhaps even a cycle and a half concentrating on persistent, consistent, ongoing and perhaps even aggressive accumulation of bitcoin will end up putting such person in a more well informed place after a cycle or cycle and a half accumulating bitcoin, including that the stack of their BTC stash will also help to inform them, as well as ongoingly needing to consider their 9 individual factors, which also is not likely to be a fixed target.
Of course, you have your own issues, which both include going through at least a whole cycle and perhaps even close to two cycles of not really emphasizing BTC accumulation, and you seem to suffer from similar ongoing issues, even though surely there is a need to grant you some forgiveness (and/or leeway) in regards to both your age factor and also the fact that you have a decent amount of income that comes in that is already in BTC, so you have historically had to have had been more of a forced seller than a person who does not have income coming in as BTC.
I still consider that the factors are still similar, even if a person is earning income in BTC rather than exclusively in fiat. There are still decisions about how much to keep in fiat and how much to keep in BTC, and if we are bitcoin investors, we likely want our BTC stash to be continuing to grow for 4-6 years or more before we might even start to let off on such a concept. Sure, once the BTC gets to a certain quantity, which I like to measure using the 200-WMA, then we put ourselves in a better position to have options. that may well result in either just maintaining our BTC (rather than accumulating more) and/or perhaps even to later go down the route of sustainably withdrawing from our BTC.
About an hour ago, I just made a post about some of the sustainable withdrawal threshold considerations, so rather than repeating those same ideas, below is the relevant portion of that earlier post:
I have divided money to three levels for living in life My income is $ 5 per day, I have divided this $ 5 into three parts. For 2 dollars for a family, 1 dollar is to deal with a natural disaster and the rest of the $ 2 is investing in Bitcoin for a long time. It made me about $ 60 in Bitcoin per monthI am investing, and one thing is easy for me to divide the life cycle into three parts. I think if every investor can adopt such a procedure, then Bitcoin's market instability will not be under any human pressure.
Bitcoin is a patience test, so you can expect any good results here. Keep an eye on the market and continue the Bitcoin investment process in accordance with the above rules so that after a long time, you may be able to qualify for a high return.
Your numbers seem a bit crazy, yet if we can assume that you are able to take care of all of your expenses with 40% of your income, and you have 20% that you are able to set aside for your emergency/back up funds and you are able to invest in bitcoin with the other 40%, then surely if you are putting 20% of your income into your emergency funds, then after 6 months, your emergency fund will equal 3 months of your monthly expenses, and you may well not need to continue to put that money into your emergency fund, even though surely, it still may be a good idea to continue to build and maintain other back up funds beside just your emergency funds.. since ideally, the emergency funds would not be touched at all absent an actual emergency. Bitcoin is a patience test, so you can expect any good results here. Keep an eye on the market and continue the Bitcoin investment process in accordance with the above rules so that after a long time, you may be able to qualify for a high return.
Back up funds can be saved up for a variety of purposes.
Regarding the potential sustainability of your overall investment plan, if you were able to continue such plan for many years, then each year, the amount that you invest into bitcoin would be equal to your expenses, and so after 5 years, you would have had put the equivalent of 5 years worth of your expenses into bitcoin. So then at that point, there also may have had been bitcoin price appreciation, and also you may well need to consider the extent to which you would like to have your same income or some higher income in order to at some point start to consider the potential of living off of your bitcoin in a kind of sustainable withdrawal way... since it seems to me that even if you are able valuate your bitcoin with the 200-WMA and to reach 10 years of your income (or your anticipated expenses), then it would be possible to employ formulas to start to sustainably withdraw up to 10% of the 200 WMA cash value based on price and/or based on time.
So, for example, it is my opinion that a guy with a desire to have an income of $80k per year, he could have a bitcoin stash amount of 17.86 and to be able to sustainably withdraw $80k per year, including accounting for changes in the cost of living (ongoing debasement of the dollar and other fiat). Although if he has the bare minimum threshold level of BTC, then he might need to consider not withdrawing too much of his principle amount as the 200-WMA of his BTC will likely continue to grow faster than his withdrawal rate, as long as the BTC price is staying at least 25% higher than the 200-WMA.
Of course, the numbers can be adjusted, so that if a person felt that he ONLY needed $8k per year to live in comfort, then right now, based on the same principles described above, he would ONLY need to have had reached and/or exceeded the accumulation of 1.786 BTC in order to reach the entry level threshold for that sustainable income level of $8k per year.
You, asarfiar, are describing a situation in which you say that you are receiving an income of ONLY $1,825 per year, and so sure it could be possible that your threshold level of BTC accumulation could be somewhere in the ballpark of 0.4465 BTC (which is 1.786 / 4).. and yeah, of course, if you proclaiming that you are currently living off of ONLy half of that amount, then you could get by with a threshold level of 0.22325 BTC, which would give a sustainable income of $1k per year or $83 per month. Of course, many of us are shooting for higher amounts of income, yet it is understandable that some folks might well be able to sustain themselves with much lower amounts of income, even though we also know that some of the bitcoin transaction fees are erratic for guys trying to transact with really small amounts of value... even though it could be possible that some of the transaction fees will evolve and/or that your local area might have options for lower transaction fees, depending on where you are at and the extent to which you might be able to transact directly with bitcoin or if you are using 3rd party services.
By the way, even at your current rate of investment into bitcoin of supposedly $2 per day, which is around $730 per year, it may still take you a while to reach 0.22325 BTC or greater, yet one of the great things about bitcoin, is that the threshold for any of us to reach fuck you status is coming down with the passage of time, at least in terms of the quantity of how many bitcoin you need in order to reach or exceed your accumulation threshold level.