Hello guys, I’m new to the thread and I want to understand more about buy buy or sell sell , I want to know more about buying and accumulating Bitcoin, I will be glad if you guys can help and reply or give answers to my questions
Thank you .
You should provide some information about yourself and your goals and perhaps you can provide that information without getting into too many specifics.. perhaps talk in terms of hypotheticals or maybe percentages.
Have you bought any bitcoin?
Do you have other investments? how about debts and expenses?
Do you have a steady income? Are you expecting your income to change? Do you know your discretionary income? is it steady or does it vary?
Do you have emergency funds? or other kinds of back up funds?
What are your thoughts about bitcoin as compared with other places where you might invest?
What is your investment timeline?
It is hard to treat you like an investor if you have less than a 5 year investment timeline, and you did not say that the reason for such a short investment timeline was because of either health and/or age.
Initially I thought five years timeline will be okay but with your statement I have come to realize that five years will not be tangible to accumulate a good amount of btc, and of course I’m bearly 25years Entrepreneur which means I still have a long way to go , I have a plan of increasing my timeline from 5 years to 15 years or probably 20years since I’m still young and I’m not old neither do I have any health issue .
It is hard to treat your ideas of investing into bitcoin seriously if you cannot establish a longer timeline... and so you are merely wanting to get into bitcoin and then get out of bitcoin with some dollar profits, and you will likely miss out on a likely compounding value that comes from holding bitcoin longer (such as for a lifetime and then potentially converting into sustainable withdrawal at some later point).
I’m not actually trying to get in and out of bitcoin with some dollar profit , just that I’m new to the Bitcoin investment and I never knew long timeline will be more profitable than short timeline but with this conversation I have come to understand that investing in Bitcoin in a long timeline is better than short timeline, i wIll try my best to invest Bitcoin in a long timeline .
How do you expect any of us to help you with figuring out strategies that you might be able to apply, if you are merely planning to trade in and out of bitcoin?
All I needed was to be enlightened since I’m new into Bitcoin ,I never had in mind to trade in and out of Bitcoin , And I’m not planning to trade but to invest and accumulate a good amount , I have come to realize , and I now have a good knowledge of 10 to 15years investment and the benefits , so I expect everyone to assist and guid me right so I won’t make a mistake that is all .