Post
Topic
Board Nigeria (Naija)
Merits 1 from 1 user
Re: Balancing Financial security and Bitcoin Accumulation
by
Odohu
on 24/06/2025, 14:27:01 UTC
⭐ Merited by JayJuanGee (1)
Baba you don talk am finish. Bitcoin investment no be competition on who buy pass but na to buy based on your own financial power so that you no go choke yourself. If na 5%, 10% of your income wey you go freely buy with and forget about am, na that amount good pass. E better say make person get little wey him go fit dey buy gradually for long than say him no get at all due to buying more than your financial strength.
The way some investors are behaving it is obvious that they don't still understand this you said and that is why we have people selling off when the market is going down because of wrong investment. The reason why some investors won't go forward or make progress in their investments is covetousness, some of them are not always contented with what they have even though that is the only thing they can afford at that point in time and anyone who wants to exceed there capability or capacity will definitely learn in the hard way because there is a saying that  " you can not be faster than your shadow"
Those who display these tendencies like selling off and running away when the market is making correction are not qualified to be call investors. They are just traders which is people who bought and plan to sell at the sight of small profit and will try as much as possible to avoid losing most of their money. What this means is that they did something wrong from the beginning which is buying Bitcoin with money that should not be in Bitcoin. Investing in Bitcoin require that we purchase with only discretionary income so that we will be able to hold and not panic when the profit is not forthcoming and even when it is coming, we can hold as long as we can to be able to achieve what fully what made us start the investment. In addition, if you check very well, people who easily panic this way do not setup emergency funds which is supposed to be used in case there is emergency during the period of investment. Without such arrangement, it becomes very difficult to hold for long because sometimes emergencies happens and makes us spend money we do not plan for. It is important we aim to be smart investors by following the route of investing part of our discretionary income only and also setting up emergency funds.