However, the prerequisite for investing in Bitcoin is that you must have sufficient patience as an investor and trust the market.
What do you need patience for as an investor and how does it become a prerequisite? You mean patience for the market to come down so you can buy low and sell high just like traders do? The last time I heard those words were when discussing trading which is patient for the market to get to your entry point or reach your selling point. Well, in long term investing, there are more important things than patient because you already know that you are in a long term game.
The prerequisite for long term investing in Bitcoin is having basic knowledge and setting up emergency fuds after meeting basic needs are the requirements for investing in Bitcoin for long term holding. If you go about Bitcoin investment the right way by fulfilling the basic necessary ingredients, you may not even need to mention patience in the sentence because the investment is for long term.
I think that many long term investors would do well to continue to buy bitcoin for at least one or two cycles, yet of course the extent of their buying may well have to do with their budget and if they had been able to front load their investment. Many times normies are not able to front load their investment, so they tend to be better off to keep on accumulating, rather than merely holding... Even though holding is good in the context of meaning not to sell.. .. yet still there can be toughness in figuring out exactly what people should do, even if we likely can infer that there are an overwhelming majority of normies who are either no coiners or low coiners, so as a general principle, it seems that the no coiners and low coiners should be trying to figure out ways to make sure that they have some discretionary income so that they can ongoingly accumulate bitcoin.
I get what you’re saying about patience Moreno233. In long term investing, especially with Bitcoin, it is not about sitting and waiting for price dips like traders do. Once you’ve understand the basics, understand what you’re investing in, meet your needs, and secure an emergency fund, then you should not necessarily rely on patience in the way traders do. You should’ve already accepted that this is a long term journey, and that mindset itself takes care of the need for patience.
And JayJuanGee you added something very practical that many people overlook. Most average folks don’t have the luxury of front loading their investment. The reality is that life happens bills, responsibilities, unexpected stuff. So, the idea of steadily accumulating over time makes a lot of sense. Not just holding, but actively building your position when and where you can. That’s where strategies like Dollar Cost Averaging (DCA) come in. It allows people to grow their stack without needing to time the market or go all in at once.