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Quote from: wmaurik on March 23, 2025, 06:17:12 PM

Quote from: Cossyblack on March 23, 2025, 04:20:51 PM

Having a stable income is very important because its help an investor not to dip hands in his investment in case of any unexpected expenses happens,with a stable income the investor will be able to take care of it but it shouldn't be the only criteria to sustains an investment. I believe they're some investors in Bitcoin that doesn't have a stable income and yet they have been doing well in their holdings and haven't dip hands or tamper with their investments. An investor who doesn't have a stable income can still be using the little available funds at his disposal whenever he has it to buy Bitcoin using DCA and can be still be accumulating at slow pace in the way that it will not affect his financial status. Like for an instance,since the investor doesn't have a stable income and in other for him not to tamper with his investment when the unexpected happens, whenever he has an available cash no matter how little,he can just split it into three,one parts goes for his bitcoin investments,second for his Emergency funds and the third for his personal spending. With these the investor can Hodl longer without ever falling back to his investment since he hasn't yet secured a stable source of income.

By having a stable income, of course, we will be able to maintain the assets that we have invested and also continue to increase the investments that we run, but we must be able to manage our income well so as not to spend it on things we don't need so that when we experience emergency needs we still have funds that we can use for those needs and not take the assets that we have invested. When someone decides to divide the funds they have into three parts, of course this will be very good for them to be able to maintain the assets they have invested and if this can be done consistently, of course they will be able to make a profit from the investments they run.

Even with a stable source of income if you are into bitcoin for quick profit the possibilities of being in profit without holding for a long time is very slim and the risk of losing one asset is there .It is good for an investor to have a stable source of income for consistency in bitcoin accumulation however not having a stable source of income shouldn't stand as a hurdle for not investing in bitcoin or waiting for when your stream of income has increased.An investors can be investing in bitcoin an at the same time while working to stabilise his income flow

Surely, having a stable source of income is the best to way to still hold on long term but realistic here, some of the investors here are into Bitcoin because they think making money in Bitcoin is something that come fast, especially the newbies, i was very pleased the day i came across this thread, i know that this particular thread will surely changes some mindset of investors to always buy the dip and hold in a long cycle, and also having a stable soruce of income without keeping the emergency fund alongside with your stable soruce of income for it to accumulate together in case of the needs of emergency arisess so that you will not tempted to touch your income.

Having a stable source of income is not the only thing that will make an invest hold for long term there are others things that is attached to been able to hold for a long term which are, good management skill, patient, determination and some others. Now if an investor has a stable source of income and doesn't have a good management skill, that Investor will squander his money and even the discretionary will not be kept because the ability to keep his or her discretionary, emergency funds etc will not be there that is he or she won't consider them and again even if and investor has a good management skill and he or she is not patient the investment will still crash because he will be tempted to sell off.