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This community is a lot more valuable to the members when the knowledge and experiences acquired here is evenly distributed to one another and also applied in the real world context. There are several benefits that comes with sharing valuable information and insights about Bitcoin investment, by doing so, members will not only be helping others but also reinforcing and sharpening their own understanding and knowledge of Bitcoin. I feel so overwhelmed when I see members of this community who are selfless when it comes to sharing their knowledge and impacting other members of the forum without expecting to receive any form of compensation or monetary benefits, because it shows just how generous they are and also speaks so much about the collaborative spirit that's embedded in this community. And there's indeed no doubt that those who has dedicated themselves in sharing their expertise to help other members of the community has also in one way or the other, benefitted from similar interactions in the past, and are now trying to reciprocate to that by also helping others, you what they say, to whom much is given, much is also expected.
You also know the best part of this kind of knowledge sharing, it can actually have some kind of ripple effect, because the information and knowledge shared to the community may not only benefit the direct recipient but as well others who may also be impacted by the decisions made by the immediate recipients. Members who also participate in these discussions can also contribute immensely to a collective growth in understanding that can enforce even more developments and have more benefits.
It seems to be that bitcoin does not have any specific marketing team, while at the same time, there seems to be a decent number of folks who are still spreading the word about bitcoin, and sure if we are holders of bitcoin, we can still benefit indirectly from the ongoing spreading and/or rippling effects of the spreading the word about bitcoin.
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As a long-term Bitcoin investor, the first thing that an investor needs to ensure is a strong emergency fund, but most investors ignore this issue at the initial stage. They do not think about how common unexpected situations are, where they will need a large amount of money urgently. But if you do not have an emergency fund ready at that time, you will have to sell your holdings forcibly, which will destroy the continuity of your holdings and you may face losses.
Building an adequate emergency fund is one of the biggest requirements in long-term investment and it should be mandatory to build it. There is no substitute for emergency funds to stay safe from disasters in the long-term Bitcoin holding journey.
I am ongoingly thinking that the first thing is to get started investing into bitcoin. If you have no investment in bitcoin, then what are you protecting with your establishing of a strong emergency fund?
Of course, if someone has such messed up finances that he cannot really figure out whether or not he has a discretionary income, then surely he may not be in a position to start investing into bitcoin until he can figure out that he actually has discretionary funds.
It seems that most people, even people with bad finances will tend to have some extra funds that would cover anywhere between 2 weeks and 6 weeks of their expenses, so many people already have an emergency fund from the start, and to get started investing into bitcoin, I doubt that the emergency fund even needs to exist, and surely it does not need to be strong, such as being equivalent of 3 months or more of expenses, even though once the amount invested into bitcoin might start to get to 3-6 months or more of expenses, then it is probably good to have had built up your emergency funds to be at least 3 months of expenses.. and surely, depending on how much discretionary income a person has it could take 1-2 years or more just to get the emergency funds and the bitcoin investment each equalling 3 months of expenses... and for many folks who had not previously had any investments, that would be a good place to be.
The funny thing is that the recent price is still early for long term investment, and the market literally create a lot of dip before this recent ATH . But still a lot folks didn’t grasp the opportunity to be aggressive then rather they where waiting for more dip and they end up missing out , now bitcoin around the range of $110k.
Though bitcoin will continue to do correction but there’s certain price it won’t fall back again so better you take abt opportunity you have now .
We got back a bit to 108k or so, so buckle up, the next stop is getting more once we fall back a bit Though bitcoin will continue to do correction but there’s certain price it won’t fall back again so better you take abt opportunity you have now .
So you are expecting more of a fallback? I saw $107,367 as our so far low for the day (or the low for the past two days).
Sure it is possible to dip more, yet if you are a relative newbie to investing into bitcoin, it may be better to just buy regularly without looking at the price. .and then maybe even extend your regular and ongoing buying for 4 years or more before you might start to get price sensitive, yet I know that many of us would like to buy bitcoin at lower rather than higher prices since we would get more bitcoin for the same number of dollars.
For example, you melinoe, only have about 5 weeks registered on the forum, even though, sure you might have had started buying bitcoin prior to 5 weeks ago.. .. and sure, within reason you might buy bitcoin every week and then attempt to buy on the dip during any given week, which sometimes can be difficult to do when the BTC price is going up, which has largely been the case since our $74k low on April 6.. so it can be quite challenging for some guys to be feeling that they might have to buy in the supra $100k prices, yet they hardly have any choices if they are new to bitcoin, since we cannot really expect BTC prices to go back down, so sure, I understand the dilemma for anyone who is somewhat brand new to bitcoin accumulation and feeling stuck in terms of buying now versus waiting, and from my perspective buying now is a better strategy, even though surely even with weekly buying periods, there could be ways to try to buy dips during the week or alternatively just to have a set day of the week that buys take place without getting overly preoccupied about the price but instead just having systems in place that facilitate continuous building of the personal bitcoin stack.
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Emergency funds is important for someone who wants to continue accumulating bitcoin and have an plan of holding for long term. Not having emergency funds at first instance should not hinder us from investing in bitcoin. We might not have emergency funds before starting our investment, but we can start building emergency funds 3-4 months into our investment. But it’s not mandatory to have it immediately as your starting your investment, for someone who has a low income it might be hard to start emergency funds immediately, but for someone who is wealthy it’s more easier for them to build emergency funds immediately. For someone who have a low income it’s okay to start investing and start emergency funds after starting investment, it’s important to be disciplined and maintain a good balance on accumulating and building energyency an reserved funds. It is risky to have absolutely no emergency fund, since if you have no emergency funds then your bitcoin is serving as your emergency fund. I tend to personally suggest that emergency funds are built at the same time as the bitcoin investment until the emergency funds and bitcoin in vestment are at least 3 months in size, and then once the emergency fund is 3 months of expenses in size, then there is more freedom to invest more aggressively into bitcoin, yet some guys also want to build other kinds of more flexible back up funds, besides emergency funds, and surely it is more difficult for poor people to build up these various kinds of back up funds as compared with richer people.
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At this point, I know some people are regretting why they did not buy when the price of Bitcoin was lower than this just recently and Instead of using this opportunity to start investing, they are still listening to those who claim they can predict Bitcoin’s price by saying it will drop again.Recently, when Bitcoin’s price was in the $80K range, I saw some set people saying the price would dip again, and they were advising others not to buy at that time. But I told some people who were willing to invest in Bitcoin for long term that it’s not about arguing whether Bitcoin will dip or not but point is that who know when the correction will happen or may the correction of bitcoin price may not go dip as they was think. And again nobody know when the bitcoin price will pump again and that is what i have happend recently just see from where bitcoin price picked to it new ATH.
Yep. Each of us likely wants to be prepared for if the BTC price goes up or down, and if the price goes down we want to be able to buy more, and if the price goes up we should want to have had already bought.. so there is a dilemma, yet the ONLY way to really prepare for UP is to ongoingly, persistently be buying until we have enough or more than enough.. and it tends to take a long time to get our bitcoin holdings to a point that we have enough or more than enough.