you should know that buying the dip is also an investment strategy, rather the DCA method is what makes it look like those that are buying with this method don't know what they are actually doing. As a matter of fact buying the dip is no longer recommended due to the steady increase of bitcoin, so waiting for a dip is totally a waste of time and also a life changing opportunity.

Just as it is said that everything about bitcoin investment is a lesson so if anyone who fails to utilize the opportunity now hoping for the price to fall below $100,000 should get ready to face the consequences of his action.

I think you're misunderstanding the theme (balancing financial security and bitcoin accumulating.) you should know that some person's may not be able to balance all this at same time so for this reason they would have to do it one after the other until they finally gain thier balance, so you don't have to say that if you focus on one thing that is going to affect others, rather it can only delay us from getting started, since they would want to start from building thier emergency funds and thier discretionary funds to enable them get start with their bitcoin accumulation then reserve funds can come later. Because if you try to balance all this at a time you may likely get affected in one way or the other, so I feel that balancing financial security and bitcoin accumulation should be done in a gradual process.

Surely knowing when to buy and when not to buy is a personal choice since weren't the one providing the money for them, but talking about purchasing when the value will drop to $100,000 are you sure if this will happen any time soon? Probably, probably, but I still doubt it if the value will fall below $100,000 anytime soon. Except you will have to exercise patient until this happens, I wonder how long you will keep expecting this to come...I just pray you don't end up regretting.

Just as the topic says" I believe there are people who may be thinking about ways in which they can make supper money in bitcoin investment. Surely ee dey possible to make life changing returns with Bitcoin BUT before we go think about this things we need to be aware of certain pitfalls which I am going to highlight below.

* bitcoin investment scam: This one no be Bitcoin investments and ee get some  promises way them dey make way be say we self go see am say the promise too good to be true, only thier promises self fit give us assurance say the project no follow so we need to Stay away from this kind  of projects.

* cloud mining:  almost all of these are scams as alot of people don also experience am so we gats avoid these like the plague.

* short term trading: These one na  very difficult game way person no supposed put body, so I no fit  recommend this to anybody. Because this one no dey waste time dry person most of this speculators lose all their money quickly, trading just dey like predicting human behavior and we know how difficult it is to predict human behavior this is why we gats avoid am too.


solution:

We need to believe in the long term viability of the technology and of the power Bitcoin has to change our society. If you are a real believer you will buy Bitcoin (Hold it in your own wallet where you control the private keys not anyone else) and you will hold for the long term [ 10 years or more. ] Rather than looking for short cut to success.

Here is the little advice I have to offer, and I believed there are still more that need to be mentioned here, so I would also like to hear your advice regarding this issue.

That's the funniest part, because if you intend to wait until correction is been made definitely you may not see the correction happening any time soon, then after waiting for some couple of months/ years and it happens that the dip which they have been longing to see is no longer happening at this point they will be forced to go with that method which they have been avoiding since. While the unwise can decide to give up in the process since things isn't working as they expected, and this a tipecal example of  unserious/ lazy investors that don't even have dreams to chase.


Those that have been giving excuses about not having a stable source of income, then how come about those money they have been saving in thier bank which source are they coming from? The truth of this matter is that those people that have been using stable source of income as an excuse are not ready to go into bitcoin investment because if they do they would have pass through that same source which they have been using to save fiat to invest into bitcoin.

Well, I feel that this  is going to motivate them to get started because Majority of this guys was doubting the potential of bitcoin some years back, surely guys will be overwhelmed when they meet the market in this current state at same time being motivated.

perhaps meeting the market value at this point $118 is not supposed to be considered as late entry, if you consider this as late entry how much more those that may likely meet the price at $200k.......they won't see it as a late entry while those early investors that meet the price at a starting point would see it as a late entry, but one thing for sure is, they're going to learn there lessons so that when next they're given such opportunity they won't let it slide but to utilize it in that initial time.

Since bitcoin is for  long term holding you have no business with timing the market but to keep accumulating bitcoin continuously using the DCA method, this is what you should be doing instead of timing the market. as a newbie you're not supposed to be timing the market as this can easily make you sell your holdings for short term, because newbies may not be able to withstand the market especially during the dip. this is why is not advised for a newbie to be timing the market, even if you're to Time the Market that should be when you have reach your investment goal then you will not be afriad to take any decisions.

If you said a true Investor wouldn't be waiting to get everything set up, then those who are planning to get everything set up before getting started is called what? If we are talking about true investors here I would say that those guys that choose to get thier plans set up  before getting started is supposed to be considered as true investors because they know that bitcoin investment need alot of attentions which is why they will prefer having all their budget figured out to enable thier accumulating journey to move smoothly. so for me I will pefer to have most of my budgets figured out so as to ease some stress/ distraction. Because getting started when you have not yet set up any of your plans can bring alot of stress/distraction.

Setting up emergency fund is supposed to be considered the right way to approach bitcoin investment, even if surely most people may not consider it necessary when getting started. But I still feel that our emergency fund need to come first before any other thing, because getting started with the hope of setting up emergency fund along the line seems very risky as we don't know when emergency issues will poop up.


This is the reason why newbies need to learn from the starting, a newbie is supposed to know the right step to take to avoid going with the wrong approach. because most of the newbies weren't told about  setting up emergency funds as most people are only interested in forcing newbies into bitcoin investment when they are yet to get the besic knowledge about bitcoin investment, this is the reason why I don't blame most of the newbies who have been going with the wrong approach because most of them can not be wise enough to make research to know more about how bitcoin investment works but they will be naive to accept whatever thing they're being told witout giving it a second thought.

How do you intend to diversify your investment when you have not even gotten to the middle of your accumulating journey? diversifying your investment when you have not yet acquired a reasonable amount don't make much sense to me. As a no coiner what you need to do is to keep accumulating bitcoin since is your first choice of investment then after which you have gotten to the status of overaccumulation then you can start looking into diversifying into other assets, because bitcoin investment need to be giving much attention than any other crypto investment since bitcoin is the only crypto currency we are sure of it good potential in the future, aside from bitcoin investment I don't think if there's any other crypto currency that one can think of diversifying into.

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.

if you know that your discretionary funds is large enough for you to be buying aggressively regardless to the market condition, of course you have all the right to do so, but this is not about having a large discretionary fund, you need to ensure that you have a good cash flow, because I know you're indirectly referring to Micheal Saylor who have been buying aggressively without considering the market situation, That is because he has a good cash flow, which is why he was able to maintain his buying method, So anyone that does not have the capacity shouldn't be looking at Saylor's buying method.

Don't get me wrong man, I never Said aggressive investing cannot be fruitful in any way, I only talked about not being over aggressive. I think you're misunderstanding the term aggressive buying of bitcoin.

aggressive buying of bitcoin is mostly apply during the dip, because every dip gives us an opportunity to buy in a cheaper rate so during this period a guy can choose to buy as much as he can so that before the price Will bounce back to the normal value then he must have accumulated enough stash of bitcoin, and start going with the regular method.

I agree with you on the fact that aggressive investing is not harmful for everyone, and you also Said about making sure that we have backup funds, and reserve funds available. And yes, is very important to make this above mentioned funds available before one should be looking into aggressive buying of bitcoin, one more thing that need to be added is that we should not be over aggressive because excessive doing of everything is not good, so while investing aggressively we should do it within our boundaries and not to think of crossing boundaries.

Yep, but I feel that is necessary for one to start looking for a way to build up his or her emergency fund after he must have Invested for two or three weeks/ months, because emergency issues can come at anytime time. However, I know we may not be expecting any emergency issues during that period, but to be in a safer side I feel that we shouldn't wait to spend like 5 to three weeks/ months before we will be making plans of getting our emergency funds ready.

surely our emergency fund can be  less important when getting started, but we shouldn't get carried away to an extent were we will be thinking that there will be no need of setting up emergency fund since there's no emergency alerm all this while, I'm pretty sure that this is what led most of this investors into selling their holdings when they don't even intend to do so.

I want to agree with you on the fact that shitcoin investment should be treated as a form of entertainment/ fun because I have not been seeing guys wining from shitcoin investment lately, while the rate of shitcoin losers keep increasing just as it is in gambling. And Yes, i would rather stick to my bitcoin investment than to gamble with it, because the 1% of bitcoin we think is too small can double 3% to 4% or even more in the long run. Which is why I would rather hold the 1% of my bitcoin to double instead of gambling with it, as I don't know it's potential in the future.

Instead of going with the method of investing today and still wait until you have a discretionary fund, why don't you hold on until you get a good source of income even if it is not stable, because investing today and still wait until you get a discretionary income is as if we are just joking with our bitcoin investment. However, bitcoin investment is all about being consistent to maintain our weekly/ monthly routine. If not for the fact that everyone is trying to acquire a little portion of it, I would've say that one need to be financially stable Before getting started, to avoid facing unnecessary challenges, But since there has been a massive increase in the value over the year everyone is rushing to get started so as to avoid late entry.

Of a truth waiting to get all our budget figured out before getting started will make us not to get started on time, but I feel that this is supposed to be a personal decision if we are to get started or to wait until we get all this figured out. so you can't possibly say that is not necessary to wait until we get all this matters sorted out before getting started, as you can't speak for others, If you feel that getting started is your best step to take maybe with time you will be looking for a way to get all this matters figured out, is also a nice idea. So I feel that this is just a personal decision.

You seems to get him wrongly, he never said that we can't Invest into bitcoin if we don't have income source. Rather, he was referring to those guys who think that having a stable source of income is a must before a guy will think of getting started. Perhaps, even if maybe he said that a guy who does not have no income source as you said should not Invest into bitcoin, I would say that he's right because having no income source means that a guy does not have any means of getting money accept the one they give as charity it could be from our relatives or our love ones as the case may be, so you don't expect this set of people to be investing into bitcoin when they're supposed to use the money to get thier basic needs, but this isn't what he meant.

I think you're getting it wrongly