I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
I will not blame you for selling your Bitcoin too early because you are responsible for your actions and you never believed that Bitcoin could one day get to six digits or you never saw Bitcoin as an asset that will keep increasing in price in the future, but I am happy you have seen what Bitcoin can achieve and you have motivated yourself to invest in Bitcoin again, and I believe you will never want to sell your Bitcoin for peanuts again. Bitcoin is an asset that increases as time goes on, so waiting for Bitcoin to drop to your set price is not an investor mindset, and since you are no coiner, that mindset will only delay in accumulating Bitcoin. It is better you change your mind and start accumulating bitcoin monthly because you will wait for eternity; bitcoin will never drop to your set price, and you will eventually miss out on investing in bitcoin.I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
Congratulations, you've profited from your BTC investment, buying at $25,000 and selling at $40,000. Unfortunately, you didn't make a larger profit. If you had sold now, you might have made more money, but it would certainly be better to sell in 5 or 10 years. However, what has happened is certainly a valuable experience for you, and if you've thought about it and realized that holding BTC for the long term is necessary, you're probably in good shape now and are starting to consider buying BTC using part of your salary and saving it for the long term.
However, you must maintain an emergency fund because life in this world is full of temptations and obstacles. If you have an emergency fund, you will certainly succeed with your BTC investment. Experience is a valuable teacher, and buying BTC is certainly the right choice right now, as long as you buy with ready cash.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
This is the mistake that a lot of new investors are doing. They feel that waiting for the price of bitcoin to dip to a certain level is the best time to buy but they forget to understand that they will keep on waiting and wasting time blindly because bitcoin price might not dip to their expected time. They will keep waiting in vain missing a lot of opportunities that they should have used to build their bitcoin portfolio to a certain size. A no coiner and low coiner shouldn't wait but keep buying with DCA ongoingly, weekly, consistently and persistently for 4-10 years and above.I am happy that you have experienced the consequences of waiting because you will end up having very little bitcoin that you bought cheap which shouldn't be priority. Your priority should be accumulating continuously every week with your discretionary until you reach your bitcoin target without having concern of bitcoin price at that moment.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
Waiting for bitcoin price to come down before you invest is the easiest way to quit bitcoin investment. This is because bitcoin is a volatile currency and has no established pattern of volatility. You invested at $25k and sold at $40k, I'm sure all these happened with the same year, probably 2023. You either weren't informed well about bitcoin or you were introduced into bitcoin by a bitcoin trader. Imagine if you still have that bitcoin by now, which is still less than two cycles, you could own assets in any much you wish.There is no amount for bitcoin that is worth the next price of bitcoin. Even though you sell today at $200k, there are still higher chances of surpassing that amount sooner that you can imagine.
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Surely you are not a good investor. You may have little idea about Bitcoin. I do not know how many dollars you invested at once when you invested. Maybe you invested without your emergency fund, due to which you had to sell your Bitcoin later or you lacked morale. Bitcoin is an electronic currency that can be invested for a long time. If you invest for a short time, there is little chance of getting a good amount of profit from it. People invest in Bitcoin to maintain the correct value of their money because the value of fiat currency is decreasing day by day due to constant inflation in the world.
If you want to keep your invested Bitcoin, then separate the discretionary income from the money you earn, excluding initial expenses and emergency funds, and from there continue to invest in Bitcoin in the DCA method.
You may not totally say that he is a bad investor when you are not sure of how he learned about bitcoin. Some of us were lucky to learn about bitcoin from the right source with the right orientation allowing you understand that bitcoin should be aimed at long term holding. Prior to joining this forum, I have always thought it's all about trading bitcoin. But in one way or the other, I couldn't trade due to fear of loosing my funds and not understanding the charts. Everyone has his early experiences in bitcoin investment and how he manages to get to the right track. I hope he does it better this time.If you want to keep your invested Bitcoin, then separate the discretionary income from the money you earn, excluding initial expenses and emergency funds, and from there continue to invest in Bitcoin in the DCA method.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
I will not blame you for selling your Bitcoin too early because you are responsible for your actions and you never believed that Bitcoin could one day get to six digits or you never saw Bitcoin as an asset that will keep increasing in price in the future. I am happy you have seen what Bitcoin can achieve and you have motivated yourself to invest in Bitcoin again, and I believe you will never want to sell your Bitcoin for peanuts again. Bitcoin is an asset that increases as time goes on, so waiting for Bitcoin to drop to your set price is not an investor mindset, and since you are no coiner, that mindset will only delay in accumulating Bitcoin. It is better you change your mind and start accumulating bitcoin monthly because you will wait for eternity; bitcoin will never drop to your set price, and you will eventually miss out on investing in bitcoin.I will not blame the dude too because it is possible that the dude invested what he or she can not afford to let go at that point in time or may be because of little profit. So many investor sold their Bitcoin very early because of reasons best known to them but anyone who invested what they can afford to let go is not suppose to even have the thought of selling their Bitcoin since they have other things that they can use to sustain themselves and allow there investment to grow. A no coiner should strive to have a portfolio first and then look forward on growing it because they won't regret this decision in years to come.
If an investor is strictly investing in bitcoin with his discretionary income, he is free to invest in bitcoin with all his discretionary income if he chooses to do that, and he will not have any problem in solving his living expenses because discretionary income is meant to be used and paid for non-important items like vacation. Any financial crisis that happens after you have paid for your monthly expenses should be treated as an emergency because you don't plan for it, and you can freely depend on your emergency fund to solve the financial crisis and keep investing in bitcoin consistently.
Anyone is free to do whatever they want with their cash but let's be honest, you can't be buying aggressively all the time it's not possible cause at some points you'll apportion your discretionary funds into other areas and slow down for a while, which makes lots of sense. I know it's the sacrifice investors who recently started are giving to build a better portfolio but then you can't sacrifice forever since you'll still need to go on vacations, entertain yourself and so forth one can only be aggressive for a few period of time, slow down then continue again after a while but saying that you can be aggressive althrough the year, for someone who recently started investing, I wonder the magic you want to perform, remember you're a human and having fun is part of our nature too.Inorder not to make financial mistakes from your total income you should first remove your basic or unavoidable expenses then the rest goes into your discretionary funds. You need to have a special budget for your discretionary fund, remove some money for emergency, Bitcoin accumulation, miscellaneous for your planned vacation, family treat or buying that gadget. The percentage that you decide to allocate should depend on their priority to you. The point is that your life shouldn't revolve around basic expenses and Bitcoin alone, although you can choose to allocate more percentage of your income into them, it's your money and your choice.
You are correct that even if bitcoin is a very high prioritiy, and even the highest of priorities, there are likely going to be some other expenses that could come up from time to time, and emergency funds are for the expenses needed to live, and surely there can be reserve funds that are available too, in order to help to protect any guy who might choose to put 100% or close to 100% of any new discretionary funds as they come in... and so if he ends up making mistakes he can tap into his reserve funds... Surely, many of us suggest that we should not be tapping into our actual emergency funds absent an actual emergency, so we should not want to create situations for ourselves in which we have created our own emergency by our sloppy cashflow management and/or our having had used up all of our discretionary funds on bitcoin.. since we know that when we put funds into bitcoin they should be locked up for 4-10 years or longer.
We need to be careful in terms of telling folks about their priorities in their employment of their discretionary funds, except surely we likely can recognize short-term dangers that relate to mistakes and not accounting for all expenses that could come up and even longer term dangers of guys putting themselves into psychologically vulnerable positions if they overly deprive themselves in other areas.. so there can be problems in not having some of the other activities and/or fulfillments or even deveolping of social relations might require some financial investment from time to time otherwise people might not be willing to socially bond if they perceive you as overly self-centered.. which can also cost you in ways that were not anticipated.
Don't get me wrong. I am more than acknowledging that guys might purposefully choose to focus on bitcoin and put a lot of time, energy and monetary value into it, but if they screw up and go overboard on what they do, they might not realize.. so sometimes it is better to error on the side of having a bit of a financial cushion.. so they don't have to sell any of their bitcoin at a time that is not of their own choosing.
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Living in a country where live is generally tough for an average citizen, I can understand how tough it is to invest in bitcoin and crypto generally. I doubt that it is possible to reasonably invest in crypto or shitcoins... That seems more like trading when guys get involved with shitcoins rather than investing, even if they might think that they are investing..
The standard of living has changed significantly for the average citizen making life more unaffordable and finances more difficult to keep. Being able to apportion funds into discretionary funds, emergency, family treats, vacation, buying gadgets or even spare money for miscellaneous is usually almost impossible. The best most of us can do is to sacrifice 60% to bitcoin investment (which is roughly $50) monthly, then the remaining 40% will be for upkeep for the rest of the month (which is around $30). Now imagine living with 30 dollars in a whole month for upkeep, where just buying fuel is averagely 90 cents per litres, fuel alone is more than enough to take the remaining funds for upkeep. This is when you're even earning above the minimum wage which is less than 55 dollars monthly. Now you begin to ask, how many people do really earn above the minimum wage in an unstable economic environment like this?
I will grant you that there are likely certain places where it is quite difficult to figure out ways to increase our income, since it seems likely that it is better to be able to increase income rather than decreasing expenses, since there might not be as many ways to decrease expenses if guys are already living frugally and various aspects of the cost of living continue to go up.
Surely younger people have more potential options to change careers or to shoot for various ways to get training and to potentially advance in higher paying work as the get older, but yes, sometimes folks are already at an age where it might be difficult to change their income levels based on their work, so it surely can be challenging when guys are not able to increase their income as rapidly as their income is begin debased.. and, yes, you are correct that investing ONLY comes from discretionary income, and if your discretionary income is decreasing then you might not be able to invest in bitcoin.. even though bitcoin is one of the ways that guys can be helped to get saved from the ongoing and likely continuing debasement that is going on with all fiats.. .. and surely guys who barely are able to put any money into bitcoin might not be able to directly advantage from bitcoin being available.. but only available as an investment to people with discretionary income... Any guys who are using non-discretionary income to buy bitcoin are gambling (or trading) rather than investing.
This is usually the challenge most of us living developing African and Asian countries in the world are facing. It is not our fault that the economy of the country is hurting, forming among the reasons why many of us choose to diversify and invest in bitcoin which although can be volatile, but has more value than our local currencies. This is again the reason why the DCA approach is always the best advice you can preach to us, as much as yoy Want to benefit the majority of the population. DCAing is more realistic to an average person here than the lump sum investments because for many of us, we may never have the opportunity to venture into lump sum investments in our journey to grow our portfolio unless if you’re fortunate enough to be around the elites, driving the economy.
Sure, I agree with you that DCA is likely the best of choices for poor people who are with relatively low discretionary income, yet I will also proclaim that it is good for everyone to know about their three BTC accumulation methods that also include lump sum and buying on dips, and in regards, to lump sum, we can never be sure that we might sometimes get some extra cash that might not have had been expected.
If a guy is ONLY investing around $10 per week into bitcoin, and then all of a sudden he comes across an extra $500, that would be equal to about a year of his DCA amount, so surely he is going to feel that he has options when he comes across that quantity of extra money all of a sudden and he is able to invest it into bitcoin and/or perhaps the other option would be to shore up his emergency funds and/or his reserve funds.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
Congratulations, you've profited from your BTC investment, buying at $25,000 and selling at $40,000. Unfortunately, you didn't make a larger profit. If you had sold now, you might have made more money, but it would certainly be better to sell in 5 or 10 years forward. However, what has happened is certainly a valuable experience for you, and if you've thought about it and realized that holding BTC for the long term is necessary, you're probably in good shape now and are starting to consider buying BTC using part of your salary and saving it for the long term.However, you must maintain an emergency fund because life in this world is full of temptations and obstacles. If you have an emergency fund, you will certainly succeed with your BTC investment. Experience is a valuable teacher, and buying BTC is certainly the right choice right now, as long as you buy with ready is in the right way
You have likely help to highlight why guys might want to consider a sustainable strategy, since there should not necessarily be a desire to sell all of our bitcoin 4-10 years or longer down the road merely because we consider it to be in high profits.
Surely we will have options when our bitcoin has more profits, yet guys likely will end up selling too much too soon if they are not mostly holding onto it.
Let's say that a guy in his mid 30s with an income of around $50k per year income got into bitcoin around 12 years ago, and, so maybe it took him around 7 years to establish his position. So between mid 2013 and mid 2020, he ended up investing around $36.6k and he accumulated 62 BTC. Maybe he was confused about the valuation of his BTC or if he could stop accumulating bitcoin and perhaps diversify into other assets, but he tentatively started to think that 62 BTC is enough.. and also he might also start to think that he had put enough into bitcoin. So, in mid-2020 it was not really clear what to do, but so then after he let the bitcoin sit another few years it may have had started to become clear that he has enough bitcoin or more than enough bitcoin and he might start to engage in sustainable withdraw - price-based and/or time-based.
He actually thought that it was going to take him more than 10 years to get to a real comfortable status with his BTC and/or other investments given his income and his chosen investment level of $100 per week, so he is feeling way ahead of where he thought that he would have had been.
Even in 2022, when bitcoin was going through trying times, he may have had realized that he could have had started withdrawing from his bitcoin at that time, and it could have had been sustainable to support him on his $50k annual income or even at higher levels, such as up to $140k per year... so perhaps even in 2022 when bitcoin was going though doldrums, maybe we was considering whether he should buy more, yet even if he choose not to accumulate more BTC, he came to conclude that he had enough or more than enough bitcoin.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price.
If you buy at 25,000 and sold at 40, you're not worthy to be called an investor but a trader because what you were doing back then is short term investment and not long term investment is only when you're into short term investment that you can easily be moved to sell or having the feeling that $40k could be the final ball stop, did you even make research before investing into bitcoin or maybe you just pick interest in it and start investing into bitcoin when you don't even have the basic knowledge....I think this could be the reason why you were just making exaggeration back then.
The potential of BTC is something that many people don't see those who usually call themselves investors can set goals perhaps when it reaches a target, they say that was their objective, However there are investors who know the potential of BTC and choose to wait or hold as much as possible, the longer the better.
Buying is a great option BTC has shown good buying signs it has even dropped to $104,000, and those who bought are already in profit., BTC is expected to reach $120k they'll see whether they sell or not, If they sell there's always a smart investor who buys.
And if you want to be even more ambitious or curious about this potential, you can see how some people show their analysis here:
Bitcoin metric says $100K BTC was the bottom: When will a rally to new highs start?
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*Bitcoin’s monthly outflow/inflow ratio has dropped to 0.9, signaling renewed long-term confidence and accumulation.
*Despite aggressive short-side pressure on Binance derivatives, BTC has remained in a tight range between $100,000 and $110,000.
*Over 19,400 BTC were moved into institutional wallets, indicating strategic positioning by long-term holders.
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After breaking above the $100,000 level on May 8, Bitcoin
BTC
$108,956
price has closed every day above the psychological level. While BTC posted a lower range deviation to $98,300 on June 22, the crypto asset remains close to new highs above $111,800.
BTC
$108,956
price has closed every day above the psychological level. While BTC posted a lower range deviation to $98,300 on June 22, the crypto asset remains close to new highs above $111,800.
Cointelegraph:https://cointelegraph.com/news/bitcoin-metric-says-100k-btc-was-the-bottom
The outlook looks good, but it's just a way to know that the outlook is good So, if you buy and the price drops, or if you buy and the price rises and you sell in the short term , you'd be cutting into your own investment.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price.
If you buy at 25,000 and sold at 40, you're not worthy to be called an investor but a trader because what you were doing back then is short term investment and not long term investment is only when you're into short term investment that you can easily be moved to sell or having the feeling that $40k could be the final ball stop, did you even make research before investing into bitcoin or maybe you just pick interest in it and start investing into bitcoin when you don't even have the basic knowledge....I think this could be the reason why you were just making exaggeration back then.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
In Bitcoin investment you don't have to wait for a particular time before you start investing because every time is the wright time to invest, waiting for the price to dip before buying would even cost you more just like your experience because most times, the price does not fall but keeps increasing, and sometimes it even goes beyond the amount which you use in buying Bitcoin remains the only trusted coin, and having it has to be risky,therefore you have to forget about your fears and invest for a long-term .
The DCA strategy is always available for you to adopt to consistently purchase Bitcoin without waiting for the dip , in as much as you apply it in the bit to accumulate you Bitcoin you will find it very easy to invest. DCA allows you to accumulate little by little without any stress on your fund as long as your discretionary income is available, you keep buying and when it gets to the dip, you buy more to add up to your existing investment, so that you will not end up losing the entire process of investing.
Therefore don't wait but buy whatever you can afford at that moment .
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
I see you more as a trader than an investor, waiting for the price of Bitcoin to drop and then buying it, then hoping the price goes back up to make a profit, i have to say that is a real mistake, you will lose a lot of valuable momentum. In the end, instead of waiting for Bitcoin price to drop or correct, it is better to focus on buying in the long term, just buy when your discretionary income is available, after that what you need is consistency to maintain your Bitcoin investment, increase your income source so that you can have more discretionary income to accumulate Bitcoin, stay focused and you will feel the benefits in the future.
I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.
Surely you are not a good investor. You may have little idea about Bitcoin. I do not know how many dollars you invested at once when you invested. Maybe you invested without your emergency fund, due to which you had to sell your Bitcoin later or you lacked morale. Bitcoin is an electronic currency that can be invested for a long time. If you invest for a short time, there is little chance of getting a good amount of profit from it. People invest in Bitcoin to maintain the correct value of their money because the value of fiat currency is decreasing day by day due to constant inflation in the world.
If you want to keep your invested Bitcoin, then separate the discretionary income from the money you earn, excluding initial expenses and emergency funds, and from there continue to invest in Bitcoin in the DCA method.