Quote from: Merit.s on Today at 07:32:33 AM

Quote from: laijsica on Today at 07:28:34 AM

[edited out]

It's wrong for you to start thinking of diversifying your bitcoin portfolio when you have not reached your bitcoin target because it will distract you and make you not be able to give all your time to build and build your bitcoin portfolio to a good size in future. The only time that you can think of diversifying is when you have reach your bitcoin target and you feel that you have more than enough bitcoin. That's when you can start to diversify into stock, bond, equity and cash equavilents. However, it's not necessarily that you diversify if you don't have the idea of investment that you want to diversify to to avoid doing it the wrong way.

I doubt that we can proclaim exactly when diversification might be necessary or justified to do. We do not necessarily need to wait until we have reached our bitcoin target before diversifying, since our bitcoin target might be 10-15 years or even more of our expenses.

Some guys might start to diversify at only 1/2 of their annual expenses in bitcoin and others might wait until they have 1-2 years of their annual expenses in bitcoin.

I think that many folks try to proclaim that it is good to start out by diversifying into other investments, and I truly don't agree with that approach since we can merely invest in bitcoin and in cash and perhaps at least get close to a year's of our expenses in bitcoin before we might start to consider the extent to which diversification is necessary or justifiable.. Diversification is a discretionary choice, and guys are not going to necessarily agree hen to start to employ diversification or the extent to employ diversification... event though generally speaking and as you mentioned, diversification would tend to be investing into non correlated asset classes, such as properties, equities, stocks, commodities, businesses, cash/cash equivalents. There would be little need to diversify into shitcoins, since shitcoins are largely correlated to bitcoin, yet sure if some guys want to buy shitcoins, then they probably should limit their investment into shitcoins to less than 10% the size of their bitcoin holdings.

Quote from: BlackBoss_ on Today at 08:28:08 AM

Quote from: Barikui1 on Today at 08:01:14 AM

Yea, it's true that reading and analyzing the price chart does not hurt, but your analysis should have no part to play in your decision in investing in Bitcoin because reading and analyzing the price chart are for traders not investors, our duty as a Bitcoin investor is to buy it once our discretionary income is available regardless of it price as at then

Why not, seriously may I ask you?

Nothing to be sure 100% even with Bitcoin, so even you are a long term Bitcoin investor and plan to have very diamond hands for holding your bitcoins, I believe that checking Bitcoin price chart is never bad. You are not a trader so you don't need to check Bitcoin price chart too regularly like daily, hourly, minute but let's say you must check it to know what is going on with the market and if a blackswan even happens with Bitcoin, you can exit your position.

It can be helpful if you manage your finance with a part for investment capital which is splitted into two smaller parts. One part is for your regular DCA and with this part you never mind about price. A second part is for dip buying and this requires you to check Bitcoin price for knowing when a dip happens.

I am surely not opposed to the idea of checking the bitcoin price on a regular basis, even if earlier investors who are likely to be mostly employing DCA would not necessarily change their BTC accumulation strategies (that are focused mostly on just regularly buying bitcoin) based on BTC price moves.. but their is nothing wrong with monitoring BTC price dynamics and/or changes and/or even keeping a spreadsheet that shows BTC prices changes over time.

There will be some folks, even newbies, who will try to buy the dip with parts of their bitcoin allocated funds, and nothing wrong with employing some buy the dip in moderation, even though beginners probably should be focusing 80% or more of their bitcoin buying strategies on regular ongoing, persistent, consistent and perhaps even aggressive buying of BTC rather than buying the dip... and even for absolute beginners and even beginners who are 4 years into their accumulation of bitcoin journey, there is nothing wrong with them to have 100% of their buys to be DCA and without any concerns about bitcoin prices whether dips or pumps.