Re: Buy the DIP, and HODL!

Bitcoin investment never requires deep knowledge about Bitcoin, but it is definitely necessary to acquire general knowledge about Bitcoin, if you want to hold Bitcoin for the long term, then you definitely need to acquire that amount of knowledge, so that you never panic during times of volatility. Knowledge is definitely necessary about Bitcoin, it is never possible to achieve anything good with zero knowledge, in the same way, Bitcoin investment does not require deep knowledge, but general knowledge is definitely required, so that you do not panic during times of volatility and make wrong decisions, and your holding is saved from loss.

In my own understanding, once you have the basic knowledge about Bitcoin and how to accumulation it either through the dca accumulating strategy or lumps sum strategy then you are good to go, along the line you can start seeking deeper knowledge on it so as to know all it entails to be successful as a Bitcoin investor, you don't have to know it all to start, just start once you have the basic knowledge about it.

The most important things you need before you can start accumulating bitcoin is your discretionary income, having the basics knowledge without you sorting out your discretionary income is not enough., you must be able to know if you have a discretionary income or not After sorting out your discretion ,then you can start accumulating bitcoin using your discretionary income.As per having a basic knowledge, you can be accumulating bitcoin and as the same learning more about it.so the major thing is if you have a discretionary income since it is not advisable for you to invest money for your expenses into bitcoin or money that you will needing within a short interval of time.

You can start Bitcoin from scratch even with a small deposit. There are some investors who have no income but have a significant amount of assets to invest. How do they invest in Bitcoin or if they really know very little about Bitcoin, how should they start? For such people Bitcoin investment is an opportunity such as those who have inherited wealth they want to use their wealth wisely and become more knowledgeable about their investments. Maybe they are still studying and learning about Bitcoin and have not yet started earning. I think those new investors will be able to grow their Bitcoin stash to a level where they can accumulate for future needs through discretionary income and do it for the long term. Those investors discussed are in a strong financial position who can be further ahead to grow their stash beyond discretionary income and have a decent portfolio.

Starting an investment it is certain you’ll have to start from scratch, because it has to deal with something that you are starting new, that is why it’s been said that you don’t need a whole lot of money to start investing in bitcoin and that is one advantage with bitcoin investment, compared to some other things people do suggest to invest in, you can always accumulate little by little and for people who already have an opportunity to have access of a lot of money like wealthy individuals can accumulate enough and try to front load as much as they can, you don’t require a whole lot of knowledge to be able to invest in bitcoin, something In a reference of basic knowledge is enough to start investing in Bitcoin,
But I must say it’s quite unrealistic to start an investment with an income because if maybe you’re starting with some savings and like previous assets holdings or probably something that is giving you money is still like an asset or a business but if it’s just savings that you’re investing with I must say it’s quite unrealistic and unlikely that you’ll have a successful investment because I’m wondering how you’ll be able to sustain your investment without a source of income just some bunch of savings and assets, so for how long will you continue to accumulate with this your assets, how about your expenses and needs and something for emergency which is unpredictable. Well if it’s an inherited wealth like you’ve mentioned I know of people who are wealthy are have been investing because they inherited some companies and it would be easy for them to invest and maybe accumulate more and be crazy with there investments and they can accumulate and front load there bitcoin portfolio and have been doing very well and have been successfully holding. And they’ve not even gotten to a full circle and they have a good chance of accumulating more and they don’t have any business of looking at profits. Most of the fellows are quite certain with investing using a lump sum which they feel lump sum is a better approach for them because they have the ability to carry on with their investment strategies.