Talking about this your statement here, I don't necessarily think that you must be solid financially before you can start investing in Bitcoin, once you have a discretionary income that will enable you to invest in Bitcoin consistently, you are good to go, along the line you can be working on your finances to make it more stable and reliable, but waiting to build a solid foundation financially first before starting is another way to delay your Bitcoin investment journey.
If a person does not have a discretionary income, he will never be financially strong. A person is financially prosperous only when he has a discretionary income. Because then he can do anything to gain financial security in the future by using that income. He can become more financially independent by creating an emergency fund with the money from that discretionary income, creating different funds to meet his financial needs in retirement, and investing in different fields, etc.
If I talk about investing in Bitcoin separately, then this too will help him meet his future economic deficit, i.e. to eliminate the financial problems when he does not have an income. If he invests in Bitcoin now, then he will get the maximum advantage in eliminating financial problems later. As you meant, if someone is not financially stable, i.e. if someone does not have an emergency fund along with discretionary income, then he will not be able to prolong his investment. That is absolutely correct. To prolong investment, we need to invest with all the money that we could have managed our life even if we did not have it in our life. That is why investors are advised to invest in Bitcoin using the DCA method using discretionary income, because in this case, the investor is using money that he could have spent his life without.
Since numbers usually make things easier to picture, let's take someone earning $1,000 a month for an example. After paying bills and putting a little aside for emergencies, maybe he’s left with $100. If he spends that $100 on takeout or gadgets, it’s gone for good. But if he puts that $100 into Bitcoin every month, that’s $1,200 in a year.
Now stretch it out
for over
five5 years, he
would have put in $6,000. If Bitcoin only doubles in that time, he is already sitting on $12,000. If he had just left that money in fiat savings, inflation might mean it buys only around $4,500 worth of goods in five years....Even a smaller example works. Let’s say someone can only free up $50 a month. Over ten years, that’s $6,000 stacked. With Bitcoin’s track record, that could end up being worth a lot more and might help cover retirement or education later.
When we say that we are at an ATH several times, it is clear that bitcoin is experiencing an increase, so it would be inaccurate to say that bitcoin is not rising or falling because fluctuations always occur. This year, we have experienced a very rapid increase and even reached several ATHs, which is proof that bitcoin's progress is still very good at the moment.
However, on the other hand, this movement is clearly only temporary because with such progress, we could even see Bitcoin reaching higher values compared to today.
So, what should we do? We just need to wait while investing as per our initial plan. DCA, Buy Dip, Lumpsum, or whatever else is possible as a purchasing scheme, and we must be able to minimize the risks involved by being prepared and responsible for our purchases given the current economic conditions (where buying does not burden us in our daily lives because this is for the long term).
Price of bitcoin has moved from $124k down to $110k and you said is just temporary, that there will not be bearish season soon? just watch and see what will happen before the end of September if the price of bitcoin will not decrease more than $100k to convince some investors waiting to buy in the dip to start buying bitcoin and hold because majority of investors are set to use huge amount of funds to buy and hold for long term, those that apply this method, dollar cost average (DCA) to accumulate bitcoin, always have the opportunity to make a good income from bitcoin investment because they don't like to sell when the price is low than to wait for long years before they can sell to earn double income from their holding.
Even though there has been a decline, isn't it temporary, and if you focus on your long-term goals, it shouldn't bother you? I say it's a temporary decline because, in the end, most people in this thread prefer long-term investments, where they prefer to be in an annual position (rather than short-term investments), let alone trading, so why are you worried about the current decline? We’ve even experienced a decline from $64k to $15k, and it’s fine now—there are no issues. So why are you worried when Bitcoin has dropped from $124k to $110k now?
We just need to make another purchase if the goal is long-term investment for the upcoming halving period, and it might even be more—unless your goal is short-term trading, in which case you might need to be concerned now.
A decline isn't everything because after a decline, there will inevitably be a rebound, and we just need to focus on our long-term goals.
Just because it dropped by $14k, you're already panicking and thinking this is the end of the world? What were you thinking when the previous extraordinary rise happened?
Whether to sell or not depends on each individual's perspective because, after all, all control lies in the hands of the investor themselves. Regardless of whether they want to sell or not, it is up to each individual, but it is important to remember that after selling our portfolio, the bitcoin is no longer ours in the end.
Perhaps the drop looks painful only if someone is watching day to day numbers, but zooming out tells a very different story. When Bitcoin went from $64k all the way down to $15k, many people thought it was over. Those who kept stacking and holding through that period are the same ones who now see 6 figure prices. A move from $124k to $110k is just noise compared to what Bitcoin has already survived.
Because Bitcoin operates on cycles tied to halvings, short term pullbacks are more like opportunities than threats. If the plan is long term, then every dip simply lowers the average entry price for those using DCA. Even if it takes months before the next strong rally, the conviction stays intact because the fundamentals haven’t changed.
And also, if someone treats Bitcoin like a trade, volatility will always look like danger. But for those saving with Bitcoin, the real risk is exiting too early and handing over their future gains to someone else. Once you sell, those sats are gone and the upside belongs to whoever bought them....So the question isn’t whether Bitcoin will rebound history already shows that it does. The question is whether the individual can stay patient enough to let time and scarcity do their work.