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So first of all, I think every investor should kill the traders spirit which gets you to follow the chart always and also keeps you waiting for dips to invest.
I agree that if we are in our accumulation phase of our bitcoin investment, we likely need to focus on various ongoing buying ways to get bitcoin, and
selling bitcoin in order to accumulate more seems like a gambling approach to bitcoin and filled with too many uncertainties,
Exactly. Many folks focus more on bitcoin gambling than accumulation. They claim to be accumulating bitcoin until a supposed opportunity presents itself to them and they sell off immediately. They have the mind of a trader. Also, the level of uncertainties in bitcoin trading (gambling) is the reason for quitting bitcoin investment when they encounter series of losses. We may not dictate what another does with his money, but we can only suggest an assumed better approach to doing things.
since if our goal involves accumulating more bitcoin we need to attempt to stay focused on ongoing buying of bitcoin in various ways, and sure at some point it might start to seem that we don't necessarily need to continue to buy bitcoin, even though at some point we will likely will need to calculate the extent to which we need to buy more bitcoin or perhaps transition into either a holding phase or maybe at some point we just buy on dips, since we mostly are getting close to having enough or more than enough bitcoin, and of course, I consider the goal to be entering into sustainable withdrawal and/or having bitcoin as a lifetime investment rather than either selling out of it or overly depleting it, unless a person might be close to death or have some age and/or health considerations that motivates needs to sell larger portions of bitcoin rather than more incrementalist ways of price-based and/or time-based sustainable withdrawals (selling of small amounts based on established parameters).
Yeah, emergency situations are the key most frequently associated reason for selling of all or part of bitcoin stash among some few dedicated long term oriented bitcoin holders. This is sometimes due to mistakes when planning for your emergency funds and back up funds which could hamper your long-term goal. Focus should be channelled to building up more emergency funds than increasing the DCA allocation for the sole purpose of cushioning your bitcoin stash against emergency situations that can lead to premature sales.
Your financial security is very important and that is why you need to be intentional about how your future would be having accumulated enough bitcoin during your active days. Investing with your Discretionary income by DCA would give you an edge over premature sales.
Buying bitcoin within our discretionary income, and practicing good cashflow management are surely ways to build up our bitcoin holdings, and we also would likely need to make sure that we are holding a decent proportion of our bitcoin in self-custody.. perhaps 80% or more of it.
This is very correct and knowledgeable. Cashflow management is key. A person may think that his cashflow management is right until the entire system is tested. Cashflow management can be tested by natural exigencies and disasters, sickness and daring health conditions.