Generally, it is good to be very intentional about we want and what we need in regards to how we spend our money, there should be a definitive purpose in making that money making decisions, most times people only realize what they should have done earlier with their money probably when the money is no longer there, responsible spending is good and fact that can not be debated and such realization of understanding the difference between what we need and what should be considered as want is also good in making a good money spending decision because it is not always about where we are now but where we are going to be in the future.
Only Bitcoin plays the right role for future economic security, that's why I think every conscious person must have Bitcoin investment. Everyone has a future in life, that's why Bitcoin is able to change the Bitcoin holding situation the fastest, if you have a job, then definitely leave aside the basic expenses of your family and deposit the remaining money in Bitcoin instead of depositing it in the bank. In that case, you will get benefits from Bitcoin holding several times more than the bank's interest.
If you follow the DCA method weekly, then this will be the best method, because you will get the opportunity to buy Bitcoin dips every week. The dip that is going on in the Bitcoin market at the moment, this dip should definitely be accepted by every Bitcoin holder.
I see your point here because the real difference between holding Bitcoin and keeping money in the bank comes down to long term value. Banks are designed to preserve capital but not really to grow it, interest rates will never outpace inflation. Bitcoin on the other hand has a history of rewarding patience by multiplying wealth over time even after deep corrections. That is why it makes sense to treat it as a store of value for future security.
Money deposited in the bank is as good as money kept in the house, the only difference is that termites don't eat money in the bank. Going by the way inflation is happening recently and bad governance, it will be improper to allow your excess funds in fiat which could possibly devaluate any moment. Bitcoin is not just for future profits, it helps to preserve the genuity of your funds. Buying bitcoin always and not just the dips as long as you have a discretionary income.
Honestly, keeping money in the bank these days feels more like you are just holding it for the system rather than for yourself.. The interest you get is nothing compared to how fast inflation eats it away, so in the end you are still slowly losing value without even noticing. At least with Bitcoin you know your money is not sitting idle, it is stored in something that has proven to grow stronger over time no matter how many dips come in between.
Another thing is, banks are only as reliable as the government behind them, and it is obvious governance is shaky, and that trust gets weaker by the day. People have saved for years, while their currency has lost half its value overnight. That is a different type of pain entirely.. With Bitcoin, you are outside that trap, because no government can suddenly decide to print more and dilute what you have been working for. It gives you more control, and I think that is the biggest advantage.
Of course, it does not mean you throw every last cent into Bitcoin and forget about daily needs, but if you have some extra income like you said, turning it into BTC regularly is way better than leaving it to rot in fiat. At the end of the day, it’s about protecting what you already have from being stolen silently by inflation. That is the part most people do not realize until it is too late…
Somehow I believe we have enter the bearish season because the level of this Dip was really massive, check where the price of Bitcoin was and where it Dip to and for those that are still waiting for price to Dip more they are really wasting time because the price will surge from here soon.
I would not consider a 10% dip to be massive, and surely there is not way of knowing if the dip might be more from here or not. It is not unusual for various dips to take place with bitcoin, even though perhaps every time dips happen folks try to proclaim that this time is different blah blah blah.. and maybe it is different, and maybe not. It is not a good practice to get overly presumptive about the short-term price, even if everyone (or nearly everyone) is expecting BTC price to reach $180k or larger. I certainly expect that there are good odds for BTC reaching $180k or larger in the coming 1-10 months, yet still I understand that there is also a possibility that the top for this cycle is already in at $124.5k... and yeah, it is possible to have both scenarios in our head at the same time and to be financially and psychologically prepared for either scenario or some other variation.
You’re right sir, and I agree with you that it’s not a good a practice to get overwhelmed or overly presumptive about the short term price, and come to think of it a 10% isn’t something massive and be excited about as it’s too early because everyone who truly understands the dynamics of bitcoin will know that anything can happen at any time, there’s every possibility that even though there’s a little 10% drop now, there’s a possibility that in the next few minutes we’ll be witnessing even more that a 10% increase. So for me, I suggest that everyone should just calm down and focus more on figuring out a discretionary income to continue accumulating bitcoin no matter the price with their on going long term strategy of consistently or persistently accumulation of bitcoin and hold for the long term goal and gradually build up their portfolio. Sometimes, people who gets overly excited or emotional when they noticed a little downturn in the market are traders who are in for a short quick profit making mindset and not really a true investor.
Those who panics at the down trends are only harming their healths because you can not expect a volatile market to stably skyrocket all because you own a portfolio in the market cap.
Yeah exactly, panic in this market does more damage than the dip itself. If someone chooses to invest in Bitcoin, the first thing they should prepare for is swings both ways. Thinking it is only going to go up just because you are holding some coins is like setting yourself up for unnecessary stress.
I always see downturns as part of the normal breathing of the market. If you can not handle those red days without losing sleep, then maybe it is better not to be in at all…