Topic: Buy the DIP, and HODL! - page 140. (Read 142372 times)

A clear explanation goes for those who were overbearing by Bitcoin as far back as 2021, they bought the coin at $68,000 in the name of having believed in Bitcoin and DCA strategy is supreme, can they still be in profits after over 3 years (in 2024) judging by the current price of Bitcoin? The answer is a capital NO.

This is why we should rather be reasonable than be brainwashed by a certain strategy. No doubt, the DCA strategy is a very good one, still, the right applications matter depending on the market condition and not just buying and buying even as the market is clearly at an overbought region.

If you are adopting DCA in investment then why mention dip season. The Dollar Cost Averaging method is where you purchase bitcoins for investment purposes on a weekly, monthly or quarterly basis. My only point of mentioning this is that since you are buying bitcoins for investment with a certain amount of money over a period of time then why should you wait for the dip season.

You are totally deviating from the discussion that led to the argument because the scared of a Christianity has nothing to do with Bitcoin investment,

You seem to have shifted from the topic of discussion. Returning to the discussion the psychological aspects of investing and fear of loss show that the investors are scared and bit because they still lack some understanding of Bitcoin or they dont have any clue at all about what Bitcoin investment is. This is where the knowledge and experience in Bitcoin matters. There is a saying 'When you're not informed you're deformed.' This means that things we lack knowledge of are way bigger than us and we are scared of it because we cannot comprehend them. Being scared about investing their money in Bitcoin doesn't make them win. They should be more scared of saving their money in local banks.

Lol unfortunately we humans
No matter how we trust in a thing we still get scared sometimes
Like when is it going to stop?
How much is it falling?
Even Christians do get scared despite their faiths in Christ.
So getting scared sometimes as an investor doesn't make you short term or a trader it means you human.
Now when you do sell because of the scare then we can say they in it for the short term.

In my own DCA and purchase data, I bought corn at these prices on those dates at the end of each month:

22 /11/ 2023 $ 43,997.9 (DCA)
31 /01/ 2024 $ 42582.61 (DCA)
28 /02/ 2024 $ 62504.79 (DCA)
30 /03/ 2024 $ 69892.83 (DCA)

I have started and hold bitcoin investments,How did you all do dca or dip?

I've asked several friends I know, why they invest on shitcoins when they know that Bitcoin is the most superior Cryptocurrency and shitcoins are pump and dumps and the replies I get is that to they're willing to take the risk and life is full of risk and to make wealth one needs to take risks and then I keep wondering why I'll risk losing my funds to an inferior coin (shitcoins) cause to the quest to make quick money when I could invest on something superior (Bitcoin) and benefit in future. knowing that Bitcoin is superior to other Cryptocurrencies and is the best for investment should make people disregard those shitcoins and what I've come to understand is that some people lack patience they prefer quick money to a good investment with long-term goals and that's why many have failed while on the verge of seeking wealth. I totally agree with you that the best place anyone could invest their money when it comes to Cryptocurrency is Bitcoin and I'll never advise anyone to investment on pump and dumps (Shitcoins) due to the high risk factor involved in it.

Apart from dumping and not pumping again, there are many risks that are related to investing in shitcoin. Also, one thing investors need to consider is peace of mind. Invest in a place a place where you will have peace of mind and you won’t be thinking of getting scammed because that is what happens to some shitcoin. Some of them disappear after getting some investors and already earned huge amount of money.

The best place to invest in is bitcoin, whether you like it or not. There is no reason or convincing you will tell me that will make me invest in any project apart from bitcoin. Because bitcoin is the best, if you look at where bitcoin is coming from the increase in value and how investors/people are making millions out of bitcoin, you will know that bitcoin is the safest cryptocurrency to invest in.
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I weep for myself after losing all my capital from trading a shitcoins last week, and this made me very sad and disappointed in shitcoins, because their are more or less a gamble and anytime we have to make a choice on which coin to hold or trade in, we should look away from shitcoins because we only draw closer to loses if we make a choice on them.

Bitcoin remains the most Acura and less volitile asset to either trade[/b or hold for long term, because with Bitcoin, your chances of losing is very low and take a long time for that to possibly happens, but this can not be same with shitcoins coins.

Many cryptocurrency investors have lost a whole lot of money ever since the memecoins craze came on board a d still many are willing to lose more instead of learning from their mistakes and choosing only Bitcoin as against those shitcoins.

I myself am quite excited with this DCA strategy because it makes me much better in investing in the long run, not much panic and more controlled in terms of emotions, also in finance, most importantly in this stratgi is you can buy at moderate prices down and can get a greater chance of the price of Dip.

Where is the profit in sheetcoins?  
Yet people take more risks and the fear of losing money also creeps in. These are nothing but foolishness. Because Bitcoin is the most brilliant to keep away from, you'll notice the last dumping was at $56,000, from where it touched $64,000 again. So if you buy the dip and hold for a long time you will have more success. But once the shitcoins are dumped, they are not pumped later and investors lose money.

But Bitcoin is such a situation that the fear of losing money is close to zero, if he is ready to hold it for a long time then surely Perth will benefit several times. But generally we need to know our Bitcoin buying strategies which we call as DCA method, you can definitely be successful if you buy investment regularly. And if you can buy bitcoins in the deep market it will be possible to hold more.

I personally like the idea of buying BTC every week especially for newbies who are wanting to build up their BTC stash and then potentially trying to time the BTC buy for the dips during each week, yet for beginners, even for the first 4 years or so, it may not be that important in regards to the average cost of your BTC, even though everyone would prefer to buy on a dip if they are able to do so, yet it does not seem to be a good practice, especially for newbies, to be holding back and waiting for dips rather than just buy as frequently as they can, such  as on weekly basis, and then maybe even considering buying steadily for 4 years or more before changing buying strategies, unless you are able to front load your investment into BTC which could be done through DCA, buying on dips and/or lump sum investing, yet not everyone has abilities to lump sum invest, yet it can be a very useful way to get some value into bitcoin earlier on in your investment journey.

So you have to figure out what your goals might be, and surely in this thread many of us are talking about long-term investment of 4-10 years or longer, so it would be a shame if you merely had been investing into bitcoin for only a few months and you did not continue to buy every month for the last 10-ish months.  A certain value comes from ongoingly buying BTC in consistent and persistent ways rather than taking breaks, especially in the earliest of years.

Been talking about DCA investment strategy for a long time. Once I used to talk about DCA investment and at that time people did not show much interest in this investment strategy but now by looking at the discussion of users it is clear that most of the investors here are now investing in DCA strategy. The DCA investment strategy has been an effective strategy since its inception. Credit must be given to the user or investor who first discussed the dollar cost averaging method of investing. He could have invested in this strategy alone without sharing it with everyone else but he didn't do that.  

Just as a teacher imparts his knowledge to students to help them succeed, so the investor imparts his own strategy to all investors to make it easier for investors to invest.

Where is the profit in sheetcoins?  
Yet people take more risks and the fear of losing money also creeps in. These are nothing but foolishness. Because Bitcoin is the most brilliant to keep away from, you'll notice the last dumping was at $56,000, from where it touched $64,000 again. So if you buy the dip and hold for a long time you will have more success. But once the shitcoins are dumped, they are not pumped later and investors lose money.

Lol unfortunately we humans
No matter how we trust in a thing we still get scared sometimes
Like when is it going to stop?
How much is it falling?
Even Christians do get scared despite their faiths in Christ.

It is best for beginners to buy DCA method as it has very low risk.
I started buying Bitcoin DCA method from December 2023.

In my own DCA and purchase data, I bought corn at these prices on those dates at the end of each month:

22 /11/ 2023 $ 43,997.9 (DCA)
31 /01/ 2024 $ 42582.61 (DCA)
28 /02/ 2024 $ 62504.79 (DCA)
30 /03/ 2024 $ 69892.83 (DCA)

You are absolutely right. It is best for beginners to buy DCA method as it has very low risk.
I started buying Bitcoin DCA method from December 2023.

Market lowest Dip prices (Bitstamp USD$ prices on the daily chart)

22 /11/ 2023 $ 43,997.9
31 /01/ 2024 $ 42582.61
28 /02/ 2024 $ 62504.79
30 /03/ 2024 $ 69892.83

In my own DCA and purchase data, I bought corn at these prices on those dates at the end of each month:

22 /11/ 2023 $ 43,997.9 (DCA)
31 /01/ 2024 $ 42582.61 (DCA)
28 /02/ 2024 $ 62504.79 (DCA)
30 /03/ 2024 $ 69892.83 (DCA)

I have started and hold bitcoin investments,How did you all do dca or dip?

I used to think diversification help reduce risk, my reasons was that It would help in a case where Bitcoin drops in price cause my other coins would still be intact not until I tried it and noticed that when Bitcoin dips, most other Alts dips with it so I had to perish that mindset of diversification and stick to holding Bitcoin, it is the best coin when it comes to investment and doesn't have much risk factor cause even when the price dips you could still DCA and recover losses overtime. infact, so far an investor is thinking long-term which is the main principle of investing in Bitcoin, the dip or fear of price drop shouldn't be an issue so far the investors keeps DCAing at various Intervals over time. Therefore, instead of diversifying I think an investor should channel such energy and funds into accumulating more Bitcoin, I've got to understand that most investors don't understand the DCA method and how helpful it is towards Bitcoin Volatility and that's why they'll be diversifying their portfolio with shitcoins instead of using the DCA to accumulate more bitcoin periodically.

If you are adopting DCA in investment then why mention dip season. The Dollar Cost Averaging method is where you purchase bitcoins for investment purposes on a weekly, monthly or quarterly basis. My only point of mentioning this is that since you are buying bitcoins for investment with a certain amount of money over a period of time then why should you wait for the dip season. Rather than waiting for the market to go down, you should consistently buy and hold bitcoins. Before investing keep in mind that the dip is unpredictable and it is not certain when it will happen.

So it is better to buy bitcoins regularly instead of waiting for the dip. Continuously investing in DCA will create a favorable situation for you if the market dips. If you have spare funds saved at that moment then you can take full advantage of the dip season.

But Bitcoin is such a situation that the fear of losing money is close to zero, if he is ready to hold it for a long time then surely Perth will benefit several times. But generally we need to know our Bitcoin buying strategies which we call as DCA method, you can definitely be successful if you buy investment regularly. And if you can buy bitcoins in the deep market it will be possible to hold more.

But Bitcoin is such a situation that the fear of losing money is close to zero, if he is ready to hold it for a long time then surely Perth will benefit several times. But generally we need to know our Bitcoin buying strategies which we call as DCA method, you can definitely be successful if you buy investment regularly. And if you can buy bitcoins in the deep market it will be possible to hold more.

Have you been buying since November 2023 every month?  or did you stop at various points?  I see that you had a purchase at the end of November but you did not have one at the end of December.. and then what have you been doing since April? Have you been continuing to buy BTC every month?

I personally like the idea of buying BTC every week especially for newbies who are wanting to build up their BTC stash and then potentially trying to time the BTC buy for the dips during each week, yet for beginners, even for the first 4 years or so, it may not be that important in regards to the average cost of your BTC, even though everyone would prefer to buy on a dip if they are able to do so, yet it does not seem to be a good practice, especially for newbies, to be holding back and waiting for dips rather than just buy as frequently as they can, such  as on weekly basis, and then maybe even considering buying steadily for 4 years or more before changing buying strategies, unless you are able to front load your investment into BTC which could be done through DCA, buying on dips and/or lump sum investing, yet not everyone has abilities to lump sum invest, yet it can be a very useful way to get some value into bitcoin earlier on in your investment journey.

I recall that when I got into bitcoin in late 2013, I would have have had been able to lump sum into it, yet I already knew that I was getting into bitcoin after the price had run up fairly stupendously in the previous year around 100x between about $11 and $1,100.  So maybe there could have had been rationale to wait rather than to get started, yet I thought that it would be better to get started, so I established a 6 month budget with my initial authorization and largely divided the authorization amount into 26 parts to be able to invest weekly during the next 26 weeks, and to study bitcoin at the same time, and then after the first 26 weeks were coming close to an end, I authorized another 26 weeks with a similar budget as the first 26 weeks.   One of my advantages was that I was already having some money that was coming available to me from various aspect of my other investments that I had been doing over the prior 20-ish years, so I was able to come to bitcoin with money that I had already been building up for quite a long time.

Of course, if you can front load your investment then you likely will be able to build a decently good-sized BTC investment portfolio at a faster speed than if you might be just taking small amounts of money from your discretionary income to invest into bitcoin, yet many times new investors will take 30-40 years or more to build a decently good-sized investment portfolio in traditional investment systems, so if you are able to cut that amount of time down in half in terms of investing into bitcoin to 15-20 years or even less, then you should be able to be doing quite well.

So you have to figure out what your goals might be, and surely in this thread many of us are talking about long-term investment of 4-10 years or longer, so it would be a shame if you merely had been investing into bitcoin for only a few months and you did not continue to buy every month for the last 10-ish months.  A certain value comes from ongoingly buying BTC in consistent and persistent ways rather than taking breaks, especially in the earliest of years.