Bitcoin has been making headlines lately, especially after breaking that $100k barrier in no time. It's clear that there's some serious potential here, and we can definitely take a cue from Bitcoin's rise. If you’re in it for the long haul and keep investing steadily, you might just find yourself reaping the rewards. Sure, it takes patience, but sticking with this investment could really pay off in the long run.
Having a dedicated savings fund for your investments is super crucial. This fund can be your safety net during tough times and help you stay committed to holding onto your Bitcoin without stress.
If you refer to what you suggest, it would be great if in the past there were many people who realized such things from the beginning or since ten years ago. Because I can't imagine how lucky people are who bought more Bitcoin ten years ago and still keep it until now without selling it at all, especially if currently such people are still trying to keep investing in Bitcoin without feeling burdened by the increase in price so that such people have really experienced better financial prosperity.
Now it's actually not too late to start investing like that because next year there are still many potential prices that can be achieved by Bitcoin and other coins so everyone needs to strengthen their determination now before entering next year. Because in a bullrun condition like now, we can expect profits from almost all coins, especially in coins like Bitcoin.
I still consider bitcoin as a speculative asset which needs proper analyses before investing. I do not like to invest when the price is high already. I prefer to invest when the price is low and taking profit as the price is increasing. I have invested when the price was low and now is the time of taking profit which will be gradually until I do not have more than 10% of my investment there. I think if you need maximum profit, DCA and investment generally are better after a long bear market. I am waiting for 2026.
I have seen many reasons why I will not spend too much in this Christmas and new year season, so that I will have funds to buy bitcoins and hold for long term because what my two eyes see in this bull market that made the price of bitcoin to cross $100k, it make me to believe that the price will enter another high price in the future that will create more opportunity for holders to earn more income from bitcoin, Since the price has started reducing from $102k to $100k, I think it will reduce more in the future for the price to enter $20k again, for majority of people to buy as much they want and hold till bull market.
Bitcoin is just at its early stages as many people like Micheal saylor would agree with me as the man himself is a perfect example of knowing what to do when it comes to buying. The discipline to continue buying is not easy but if you can pull through with it then the rewards is very massive at the end as it's just like saying that their is light at the end of tunnel.
Cutting expenses on material things that are just wants and not necessity are serious a way to financial freedom through investment. In as much as I wouldnt advise you to deprive yourself some necessary things it good to cut cost and invest into bitcoin for a long term as this has proven in the past that it can do numbers. Investing in bitcoin is a little bit tricky when you try to find a low. For some they mis out on some good positions to invest into bitcoin waiting for more dump thats why it is usually advisable for all newbies to stick to simply DCA.
Those who wait for perfect position to buy are those with some good hold already and can afford to actually miss those positions. For someone new buy when you have money and DCA because there is no perfect buy position. For me it is better you dont wait for $20k price because it could take like 2026 to come by and even that isnt guaranteed considering how high the price is at now, but we cant still rule that out because it once came back to $16k but one needs to do DCA because the perfect position one need is todays price
Oshosondi is very right in that, buying bitcoin when the price of bitcoin is high will lead to more waiting time and high chances of being on a losing trends since buying bitcoin at all time high will give you a waiting time when the market correct downward and and have to wait for the price to move all the way up to recover before thinking of taking the profits when the price create another all time price which will be above your own bought price so the waiting time is much higher.
But for those that bought at the bottom, is very easy for them to be in profits since they starting point is with profits because they already bought bitcoin at the bottom, so bitcoin investment needs a lot of market analysis before making the decision in other not to get in at the wrong time
you have said it all concerning investment I know very well that he investment is all about being patient so if you understand the kind of investment that you are into properly so what you need to do it with a diplomacy following investment with diplomacy is for you to exercise a good patient towards the Investment knowing the advantages and the disadvantages of that investment, so that is why we always emphasize on making a research before you establish a business so in cryptocurrency investment what will make you to succeed or to obtain a profit during your time of cryptocurrency investment especially in Bitcoin is for you to exercise a good patient his for you to endure knowing that two things are involved in any investment neither you profit or you loss.
There is what we call aggressive face of Bitcoin accumulation, this is a stage where the Bitcoin investors put in all that he get in the form of cash reserves, this stage, make the Bitcoin investors more aggressive in their approach because at that point they feel being left behind in their Bitcoin journey and the reason why the need to move in such a speed to be able to meet up with everything that comes along with such time missed, so Bitcoin purchase at that point become and aggressive and a must do for them at that stage.
But when moved beyond that stage, we have what we call steady cash savings portfolio building, at this stage the investor may lowered down the level of aggressive Bitcoin purchase to steady DCA mechanism, this point the investor set aside a small amount of they saving to hold little Bitcoin all the way up, at this point the investor have already accumulated a significant amount of Bitcoin in the agrresive stage so no more pressure of missing out on Bitcoin.
The first Bitcoin to hit $100k since Bitcoin's creation, So it may not be short time. Bitcoin Investment Will Bring Financial Prosperity If Continued With Long-Term Patience, There Are Probably Many Bitcoin Holders In Cryptocurrency Who Have Achieved Their Financial Prosperity Through Bitcoin. We can give examples of some big bitcoin holders like Michael Saylor, Binance CZ and others who are regularly buying bitcoins, their future success is inevitable.
It is very important to have a fixed savings fund and a fixed source of income to invest continuously. If an investor has a reserve fund and source of income before investing, he will be able to continue investing even in times of financial crisis Because he can use that reserved fund in times of financial crisis.
While long term holding is rewarding, the crypto market is unpredictable, and patience does not guarantee success. Relying only on Bitcoin for financial security is risky. The main principle of diversification through other assets creates a backup when the market starts showing fluctuation. I think it will be better if Bitcoin should be taken as one of the major aspects in a big investment strategy balancing risk and flexibility.
This goes to those who are having a constant job or work/skills to keep regularly topping their bitcoin portfolios in form of stacking it up, but one time investment may not guaranteed long term holding because one could be tempted to pull out their investment when there seems to be a financial constraint as you do not longer have control to finance again, you would have no options than to go touch your investment you have on bitcoin reserved. For any investment to be fruitful there should be a backup such as additional work or having multiple stream of income will boost up your saving portfolios.
Some without a constant source of income can still invest in bitcoin, because if he has a discretionary income whenever he gets paid can invest in bitcoin. There are some skilled people that don't work and get paid monthly but they're contractors and get their contracts at a time that is unknown to them. Such person after getting paid from a contract that he executed can front load his bitcoin buying with his discretionary income from the contract, and buy again whenever he gets a new contract.
Isnt this the message Michael Saylor is trying to spread to the world because
there is no other alternative for everyone to store their wealth.
There have been a lot of people who have kept faith with Bitcoin since the beginning,
personally I am almost 8 years a Bitcoiner. I have also tippled with $hitcoins, major
mistake but I'm glad it only took me 12 months to realise my mistake and to go
all in on Bitcoin.
I cant believe that you think its too late to get into Bitcoin. If the likes of Saylor
is still buying at $95k, he is buying for the future, he isnt thinking about next year
or the next 10 years, like the OP states, its for the long term.
I guess there will always be those who are looking for fast multiples of profits and
who are not willing to learn some patience and future thinking. Best of luck to them.
Yes I also agree with you I think Bitcoin is a speculative asset because investing in Bitcoin requires proper analysis. I was holding Bitcoin because I had profit on my Bitcoin investment so I sold my Bitcoin for $100,000 and put it in USDT. Right now the market situation seems very risky to me so I don't know what to do right now. I have a target in mind if the market is dumping then I will buy Bitcoin with USDT and hold it if the market increases again I will sell it and take profit.
Pretty sure that's supposed to be separate? If anything profits from investments are either for buying appreciating assets (houses, lots, cars, etc) or for retirement, not for emergencies. There's supposed to be a separate fund for emergencies though if said emergency is that expensive, I guess it can count as an emergency fund. Nonetheless not a first pick when choosing what to spend anyway.
I also wouldn't call a decade to reach 100k a short time . Just treat it as any speculative asset out there imo. Yes, I'm pro-Bitcoin, doesn't mean I need to shove it into others as well because the market is going well. It's all in hindsight anyway.
Yes, it is very much a speculative asset and with that, everyone should be very careful to invest their hard earn money here. And then we operate on cycles, maybe there will be investors that are not to used to seeing this kind of patterns.
If they do, then they need to strategized as well as there are years that Bitcoin is going down, and going down hard. Maybe they will not invest, or if they are smart, going to invest on them but it will also take years to see your profits. And with that, if there are investors who doesn't like it, then Bitcoin is not for them and not for everyone.
You sound like a non-bitcoiner who prefer to time the market whereas bitcoiners are real holders. I mean I prefer to hold my bitcoin for few decades. The phase of profit booking might take place after my life by my inherits or most likely they will use bitcoin instead of selling. I am sure you are not alone like most people here are, even after realizing the fundamentals of bitcoin, still trying to time bitcoin market. Bitcoin market seems highly predictable but I am sure it will shock/surprise everyone including long term holders with its unexpected turn or rally.
My point is, if you are not ready to get the cyclic nature of bitcoin, then you should remain as traders. Every bitcoin investor will be in profits after 3 or 3.5 years at least; where else you can find such a guarantee. This may not remain true after few years but I am sure for next 2 or 3 decades, every investor will able to multiply their capital for every four years until 25% of world population adapt bitcoin.
It is very important to buy or accumulate bitcoin and hodl for a longer period of time. Bitcoin future can be predicted from the current situation . If bitcoin was not a currency worthy of investing, we would have seen it dumant for the past 15years. But since all theory and speculation of not achieving $100k has been proven wrong, it shows how important and trustworthy bitcoin is as an asset. This will increase the trust of people and their level of bitcoin adoption. People usually need proof before they can participate in some things, and bitcoin has proven it self worthy of investment.
I think what you mean is discretion fund and or reserved or floats. For more understanding about DCA strategy and other form of investment you can check "buy the dip and hodl" thread in the speculation board to learn more.
If we can develop a saving culture, invest and hold for some time, then we are going to make profits, we should not forget that bitcoin is the only asset and digital investment that can make us proud and we make profits as we want over time, because of its consistencies trust and rapid performance in the crypto market unlike some other altcoins which we cant be sure of their rapid rise than fall.