There have been quite a few guys who came to the forum in the past 2-3 years, and those who seriously got started into buying as much BTC as they could would have had done much better than those guys who sat around waiting, or thinking about BTC while failing/refusing to take action to get started in their regularly buying of BTC.
It is not easy to buy as the BTC price is going up, yet guys who started buying BTC 3 years ago would have experienced both the downward price movements of 2022 and also the low period of late 2022, and then pretty much ever since late 2022, the BTC price has been going up..
Yeah, we have a bit of a correction right now from our $109k January top, yet guys who had been continuing to buy through the whole period seem to be creating a decently good starting bitcoin base for themselves. Even the guy who started investing around
$100 per week over the past 3 years would have had invested close to $16k, yet he would also have close to 0.5 BTC, which surely guys are going to be happy to have had been able to make such BTC accumulation progress based on their budget.. and yeah some guys can invest more than others in terms of the quantity of their discretionary income and even if from time to time, they might also come across extra cash that they are able to put into bitcoin and to help them in their BTC accumulation progress.
Investors who come late are usually more focused on accumulating Bitcoin compared to early investors who already feel doubtful because of the high price. Such thoughts are often in the minds of old investors because they have the opportunity to buy at a price of $10k, $30k but they postpone it.
Now when the price has reached $100k, of course old investors have the thought of waiting, of course that is a big mistake.
I doubt that the feelings and/or thoughts are very much different, since a large number of folks who come to hear about bitcoin, they assess themselves as being too late, which were the feelings historically, are the feelings presently, and will likely continue to be the feelings into the future. I had a similar feeling when I started to get into bitcoin in late 2013.
Those persons who act to buy and to get started and to create a ongoing buying plan, rather than wait are likely going to develop the correct mindset in which they start to accumulate bitcoin and to build their bitcoin stash rather than sitting on the sidelines.
Time in the market is much more important than trying to time the market, since getting started gets a person ongoingly reinforcing the buying of bitcoin and puts practices in place.
Sure, it is o.k. to hold some money back for buying dips, yet there are risks in regards to holding back money since the bitcoin price may not dip any more.. so in order to prepare for up, it remains better to just keep buying bitcoin on a regular basis.
In fact, if they had a mindset, the DCA strategy is quite good to apply because they will continue to accumulate bitcoin until their target is achieved. Having a strong desire to invest but not having the courage to enter will end in uncertainty. Which in the end whoever continues to buy and hold is the one who will succeed later.
Success is not guaranteed, even though bitcoin remains amongst the best (if not the best) of asymmetric bets that are currently available to everyone and anyone all around the world... but yeah, any of us who are uncertain about putting value into bitcoin, then maybe we just adjust the amount so that we are not overinvested. If we have $300 of discretionary income available every week that we could invest into bitcoin or we could use that $300 weekly amount for other purposes, we could choose to invest a small amount, such as $10 per week into bitcoin, or a medium amount to invest into bitcoin such as $100 to $150 per week or we could pick a more aggressive amount to invest into bitcoin, such as $200 to $250 or more.
Of course, sometimes we do need to make sure that we have other kinds of back up funds available, including emergency funds and perhaps some other kinds of funds, so we might not even want to put all of our discretionary income into bitcoin, but to also create and maintain some back up funds in order to protect our bitcoin investment and to also have various options of money that is available when we have needs or wants that require money.
Hopefully through the last 10 years, since you have been registered on the forum, you (reefsea) have been able to accumulate bitcoin, and surely many of us may have had made some mistakes in our bitcoin accumulation along the way, so sometimes we might need to make adjustments, which also might involve continuing to buy bitcoin at much higher prices, in these times, rather than what we could have had bought such bitcoin in the past. Yet, we cannot turn back the clock, so the best we can do is to deal with the situation that is in front of us and consider whether we have enough bitcoin or not.. and if we have not reached a sufficient BTC accumulation goal (which I would consider having 10 years of expenses at the 200-WMA valuation), then we still might either not have enough bitcoin or we still have to wait some time longer for the quantity of BTC required continues to drop (perhaps around 50% every 3-4 years or so), and until we might be able to consider ourselves having enough or more than enough BTC to support our desired lifestyle.