Quote from: JayJuanGee on Today at 03:05:00 AM

Quote from: MainIbem on Today at 01:31:32 AM

Quote from: JayJuanGee on Today at 01:09:06 AM

I am not sure what the purpose would be for any newbie to be concerned about whether his bitcoin is going to double in the short term or not, especially since bitcoin should be considered as a long term investment, and anyone getting started buying bitcoin in the $97k prices is going to likely take a long time to build his bitcoin investment - perhaps 4-10 years or longer - unless you are suggesting that newbies are going to be ready willing and/or able to front load invest into bitcoin and then discontinue investing.

It kind of amazes me, they make it seem as though Bitcoin is one money doubling opportunity, like buying at $94k and watch it grow beyond $188k to get a doubled investment, it makes no sense for a newbie investor, I've come to understand that lots of people have misplaced priorities concerning Bitcoin investment they come in with the mindset of investing to take profit in a short period forgetting that Bitcoin investment is for the future and those that are patient enough to wait, I would've defended them with the saying that it's due to ignorance but at this point, it's no new thing that Bitcoin investment is for long-term purpose.

We are going to continue to have newbies coming into bitcoin with the same kind of ideas, and they are not even acting in bad faith.. it is just that normies have certain ways of thinking and do not even know what they do not know.. and surely if many of us have been invested into bitcoin for a while, so we likely have made several of those similar kinds of mistakes, and sometimes we figure out ways to learn from our mistakes and other times we repeat the mistakes several times before we learn. So maybe sometimes we will figure out how to manage our cashflow and back up funds in order that we do not end up panicking, and also we might realize that if we moderate the amount that we put into bitcoin, then we might not get as emotional about it.. so sometimes it might help to hold back some of the money for buying dips, so that we feel better to have some money when the dip comes. There are little tricks that we learn, and we also might realize that our investment is 4-10 years or longer, but when we first come into the investment, we might have difficulties planning that far into the future and it seems like a long time, but then after we had been DCA investing for 4 years or more, we realize that the time passes fast, even though maybe we might have had been feeling tortured for our first 4 years investing into bitcoin as we were getting used to investing into it and getting used to following our cash management practices.

I agree with everything you said. You made some really solid points. Most people coming into Bitcoin for the first time arenot trying to do anything wrong they just don’t know what they don’t know. I’ve been there myself like 3 years back, I made a lot of those same mistakes.

This really reminds me of when I didn’t have any kind of proper cash flow management. I was just throwing money in, thinking short term, hoping for quick gains. Then a minor dip came, and it hit me hard not just financially, but mentally too. I wasn’t prepared at all, and it messed with my head.
It wasn’t until I learned about DCA just buying bit by bit over time that things started to make sense. It helped me stay calm, stop overthinking the price every day, and really start to see Bitcoin as a long-term game.

Since then, I have been more focused and patient, and definitely less emotional when the market moves. It is a process, and I’m still learning, but that one shift made a huge difference. So yeah, everything you said is real, and I think a lot of people need to hear it. And also i have decided to DCA for the next 5 years or more..

Quote from: Catenaccio on Today at 02:59:36 AM

Quote from: JayJuanGee on Today at 01:09:06 AM

I am not sure what the purpose would be for any newbie to be concerned about whether his bitcoin is going to double in the short term or not, especially since bitcoin should be considered as a long term investment, and anyone getting started buying bitcoin in the $97k prices is going to likely take a long time to build his bitcoin investment - perhaps 4-10 years or longer - unless you are suggesting that newbies are going to be ready willing and/or able to front load invest into bitcoin and then discontinue investing.

If people exclusively newbies did enough research on Bitcoin and the market history, they would have known so well that there is no short term chance of doubling your portfolio value with Bitcoin except if they are very luckily with entries and exits even they did now what are perfect entries and exits and were not aware of their entry time and exit time are perfect.

Bitcoin historic doubling time chart has no figure on average doubling time but I guess it is possibly somewhere around 300 days or even higher.
https://casebitcoin.com/charts#doubling_time

There have been quite a few short period of time that bitcoin has doubled or more than doubled in price in a short period of time.

Between April and June 2019, bitcoin went from $4,200 to to $13,880, and even between October 2023 and March 2024, bitcoin went from $26k to $73k... so bitcoin can go up a lot in a short period of time, even though I personally doubt that it is good to try to play those waves, there are some guys who might try to play those kinds of waves, and some of them might think that they can buy back cheaper, yet it may well might have had been better if the person had mostly bought a bunch of BTC at the lower prices to continue to hold the BTC and to continue to buy BTC, especially if his timeline is 4-10 years or longer... but yeah, guys are free to think differently and to see how they do when they trade rather than invest.
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