Topic: Buy the DIP, and HODL! - page 145. (Read 130988 times)

It's understandable when investors feel the temptation to sell when bitcoin price rises, but the question is have they accumulated bitcoin to a satisfactory target?, Is that their aim when investing?. That should be to priority of an investor in Bitcoin investment than to be tempted with smaller gains because of price increase yield a little benfit to what was invested. It important to accumulate bitcoin to a satisfactory target and Holding for the long-term and also having patience on the market dips can lead to significant rewards or profits. Many persons doesn't really have that holding patience  but it is the key to bigger profit. It's crucial to have a source of income when investing in Bitcoin in other not to be tempted to sell  when their is a surge in bitcoin price when you haven't accumulated enough. Investors should discipline their self not to be persuaded with the urge of selling when your aims and target are not met.

We should always keep our goals high and never get discouraged. Maybe before starting investment we can think that if I invest 20 dollars every week or 50 dollars every month then my investment amount will not be much at the end of the year. I would say to all these investors that no amount of investment is small. If you can invest 50 dollars every month then at the end of the year your investment amount will be 600 dollars and if you keep this investment for five years or seven years then calculate once how much your total investment amount will be at the end of these five years or seven years. We always have to think big and plan accordingly and try to execute the plan. There may be many hurdles in long term investing but those who overcome those hurdles and maintain their investment consistency are the true investors.

I may be wrong from the general stats but within as I have seen, i see investors who are already beginning to get carried away by the current price value of their Bitcoin compared to how much they had bought, seeing the profits on top creates this urge for them to sell. I speak with some few persons who have been with, and what they say is holding Bitcoin for that long doesn't guarantee them to get huge profits as merely holding little portions and also going through the long DIP is not likely what they would prefer, so they choose to rather sell as soon they get a bit of profits.

Everything relies on personal budget, it begins with the mindset of wanting to invest but at last ends up to whether being prominent to afford living necessities before delving into accumulating Bitcoin. No haste in investing, profits in Bitcoin can only be delayed but not be denied, so the timing if investing early should be on the income and how good he/she can cope even while DCAING with that little amount.

It is Bitcoin discussion thread such that making use of the term crypto as you just did in your explanation seems to be very off hence your are meant to say Bitcoin instead using the term crypto since a newbie coming to the thread might not really understand that it is Bitcoin you are talking about, it would be better for you to be specific as not to pass misleading information in your subsequent posting. Specifically, it is Bitcoin investment that doesn't require anyone having much of the knowledge before entering the market such that the basics becomes essential while you learn more on your way up which is the one of the benefits of the DCA strategy.

Knowledge is good for investing in Bitcoin but beyond knowledge of Bitcoin and the underlying technology, one need to apply discipline and strategy to ensure that the investment is properly nurtured. If you really only on the knowledge of price movement, you will turn out to be a trader rather than an investor. As you know, trading is what require those highly technical and fundamental knowledge to make profits. As you know, this come with very high risk that one must be prepared to shoulder.

If you are still facing these challenges, I will recommend you change your approach. I was in this stage before and leaning about the DCA method and other minor variations was what helped me. Now any fund I receive, the first thing I do is to set aside funds for my basic needs such as food, shelter, utilities and others, thereafter I will also keep some money aside as just for anything I did not plan for which might come up. My investment amount is usually calculated after I have settled these two items, this method help me not to sell my Bitcoin for any reason as the plan is to hold for a very long time.

If you employ this method of DCA and the adjustments I explained which I learnt from this forum, I'm sure you will have similar result which is a situation whereby you no longer panic or feel any FOMO instead you will feel relaxed irrespective of the market price.

I'm confused, nothing left in their portfolio? Can you explain further?


I believe not ser. There's probably a small percentage of people that no longer like Bitcoin as a long term investment, but the HODL waves show that there are more people that are currently holding their Bitcoin for more than six months than the people who are holding them for less than six months.

https://unchained.com/hodlwaves

Understand the difference between basic and sufficient knowledge. Basic knowledge refers to the understanding the  foundation needed to start investing while sufficient knowledge is a deeper level of understanding that allows for more advance and strategic investment decisions. Beginners or newbies can start bitcoin investment with basical knowledge, with time your knowledge advance further in your investment journey.

Patience is a virtue when it comes to successful long-term holding, investing in Bitcoin (long-term holding) you have to discipline yourself to be very patient to succeed in your investment. It's a long-term process that rquires investors to be patient, When patient become challenging invest amount that you are comfortable with and can afford to loose only and also focus on the long long-term aim during market fluctuations and  believe in the unique qualities and potential of Bitcoin.

To have knowledge is good before going into anything be it business, investment etc but you sound more like someone who's talking about trading because I don't understand what loss you are talking about I mean the place you will be talking about loss is trading not investment when you invest, everything is safe and intact provided your wallet seed phrase is safe again you don't need to know everything about crypto before you can be able to invest perhaps there are basic things one ought to know to be able to invest and in order for your investment to yield good profit you have to be patient and discipline and the best way to invest is using the DCA method.

A new beginner with no bitcoin does not need to waste anytime looking for the right strategy that he can use to start accumulating bitcoin. As a new investor DCA strategy is the best for you and there is no big deal with using DCA to accumulate your bitcoin because it is using part of your discretionary income that you know will not affect your financial expenses and you can do without for long to buy bitcoin every week or monthly consistently and persistently without skipping any week so that your bitcoin portfolio will start increasing overtime.

A new investor should get started immediately, if he has sorted out how much he will be using to buy bitcoin regularly without overdoing it. After that it is good that you create an emergency funds of you don't have any available, and that can be done along side with you bitcoin investment. You can use the other part of your discretionary income to build your emergency funds for at least 3-6 months to be a back up to your bitcoin investment so that when a real life emergency occurs, you don't go and sell your bitcoin but use from your emergency funds to solve the problem. If you have built your emergency funds, you can continue using that money to build a reserve funds that will be a back up to your emergency funds.

This is where you are getting it wrong to start your bitcoin investment what you need is the basic knowledge of bitcoin which one of them is that you invest invest in a long-term and hodli. You only need to know the amount that will allow you buy bitcoin regularly and it will not be a problem for as low as $10 for a start, and how to buy bitcoin from and exchange which means you need to register with a good exchange and you are good to go with your bitcoin journey. Since you are investing and hodli for a long period of time, you can learn the rest knowledge as you are investing. It is not good to waste time seeking for knowledge and not using the opportunity to invest immediately because bitcoin price waits for no one.

If you cannot control your patience, you should use only an amount of money that you can afford to lose. If you don't have a discretionary income get a second job so that part of your income from there can be used to buy bitcoin. If you don't have a job get one. No one can invest in bitcoin without a discretionary income.

That's right, whether you've been involved for a long time or are new, you still have to have a strategy, even if you or someone else who has been involved in the BTC world for a long time definitely has a strategy. I read and learned a lot of new things when I entered this thread, although I rarely comment, but listening is not a bad thing. I often read the comments on this thread because here I think I can find new lessons and insights about BTC.

Of course, getting a strategy that feels right takes time, I myself am currently studying the DCA strategy which is talked about quite a lot. This is interesting because I think everyone can do this strategy, even beginners, but there are many factors and aspects that must be considered so that everything goes well.


Of course, to invest, you need sufficient knowledge because if you lack knowledge, the investment you make may lead to more losses. Of course, everyone doesn't want to experience losses, so if you really want to invest, you must have sufficient and good knowledge first. I myself am looking for learning. Just from this thread I think I can take some lessons from the many comments there are. Even though we may occasionally have to be brave enough to take risks, if there is a lesson that can be understood to minimize the risk then it is better to learn it, after all it won't result in a loss either.

Restraining myself is not an easy thing, I still can't control my patience very well, I'm still preparing myself to be more ready to do everything.

To state the obvious, there is a certain truth that any strategy has to start from where any of is at right now, whether we have already been in bitcoin for a while and we are figuring out if there might be some way that we might improve our BTC accumulation and/or maintenance strategy or maybe we are just starting in bitcoin and bitcoin accumulation and we are figuring out our strategies, then we have to figure out our own budget and our 9 factors, and our view about the BTC price movement is ONLY one of the factors, which also might not be as important as several of the other factors.. and it could take us years to really get our practices in a kind of order that we start to feel comfortable with the amount of bitcoin that we are regularly accumulating and also the other balances of our cashflow and our cash reserves.


Surely none of us can say what the factors of another, and there surely could be some guys who are able to sacrifice a lot of their expenses and even to be able to work harder and more hours to increase their income and the combination of increasing their income will increase their disposable income and cause them abilities to be more aggressive than others in terms of being able to buy more bitcoin.

And there might be other folks who struggle and struggle to increase their income and cut their expenses, but they still might not be able to invest very much in bitcoin and it might take them 20 years or longer before they really start to feel that they have accumulated a decent BTC stash.

So no matter our conditions, we have to try to work within our parameters to try to make sure that we stay in the game.  We do not over do it or under do it, so that we try to minimize the likelihood that we will have regrets because we did the best that we could do based on our own individual circumstances...  And even if there are not any guarantees, it is quite likely that quite a few of us who stay persistent 4-10 years or longer ( and yeah some of us 20 years or longer), we will have good odds of being in a better position because we chose to persistently stay focused on bitcoin and we coupled our focus with reasonable and prudent and perhaps even a bit aggressive action as compared if we had not maintained such persistent focus on bitcoin.


There is a statement in regards to time in the market is better than timing the market, so there tends to be a lot of value that comes from being in the game for a long time and not overdoing it so much that you end up taking too many chances, so in that regard, each of us has to find an approach in which we do not become too greedy, and we may well have to make sure that we have enough cash, so we might refrain from buying as much bitcoin because we want to make sure that we do not over do it.. .. so the balance can be quite difficult and many of us may not realize that we overdid it until it has become too late... so we have to be careful to not end up losing any of our bitcoin because we over did it and we were too focused upon getting more bitcoin and we ended up failing/refusing to adequately protect our short-to-medium term cashflows and our back up cash reserves.  Those  kinds of balance have to come from within the boundaries of the judgement of each of us, and sure some of us try to give examples of good practices as compared to bad practices, but sometimes all of the examples cannot be given and guys have to end up exercising good judgements in regards to how to balance their cash flows as compared to how much bitcoin they are able to buy weekly or whatever period of time they are buying their bitcoin.


Each of us has the ability to set up strong cashflow management practices that allow us to strengthen our emotional reactions, so the better kinds of cashflow management practices that we have that are balanced with our bitcoin investment strategy, whether DCA, buying dips and/or lump sum, then the more likely that we will keep our emotions in check.. and yeah, it might take a while to build the skills, practices and application, so the newbies might have more tendencies to want to panic while they are still building, so they should be attempting to build and buttress their systems to lessen the likelihood that they will panic because either they are continuing to buy or they are holding or they are doing some kind of a practice that helps them to couple some of their actions in with their beliefs in bitcoin being a good place to put some of their extra money and if they don't have extra money, they might have to hold from time to time until they are able to generate some extra money to buy more... especially if they are in their accumulation stages, then the main thing is just buying regularly but also having some reserve funds so there is not any kind of sense of panic that sets in merely because the BTC price moves a lot in one direction or another.

The key to investing is to start early, so if someone has the opportunity to invest now, then he should invest now. There is no need to buy in large amounts, with accumulation or DCA one can build their investment portfolio slowly while setting goals for how long they hold it.

Because if someone delays investing now, then they might miss the opportunity to get bitcoin at a cheaper price and the opportunity to get potential profits more quickly. If you are still in doubt, do accumulation or DCA, because it is the most appropriate method for people who want to start but are still learning.

LOL, mate thats exactly what it is, people just come on up with excuses all the time, procrastination is a dream killer, I come to understand that people will always complain of Bitcoin price even though it appreciate or decline in price, if we look at the people that has keep the ground running in Bitcoin investment today, they all saw everything happening in Bitcoin market as an opportunity to acquire more of the asset hence they know that Bitcoin is an investment of the future they don't concentrate on the immediate price of Bitcoin rather they keep accumulating and patiently hodling for the appointed time to come, although people with their ways of life and their personal decision which we can't change bit I think it is better for an interested investors to let go of continous postponement of good actions that would have been taken earlier just because of something that would have been done easily with a strategy that has been made available to carry every interested investor along.

The best time to do it was always in the past and not in the present. However, we cannot go back in time and so we have to deal with the present and before another regret comes, do it presently so that not another opportunity will be missed.

That positive mindset is being disrupted when you're less experienced. And this happens to many investors that whenever a few falls happen, they all panic.

But an investor that has enough experience of buying the dip and holding for so long, there's no inch of movement to their emotions happen and that's why holding firm has been an easy action for them.

I believe investing in bitcoin now is actually the best mostly for those contemplating what to do probably if they should buy and hold or not. All this doesn’t matter as our approach concerning bitcoin investment is to take advantage and accumulate now when bitcoin has not gone too far. Talking about the future of bitcoin, although no one can tell but it’s certain bitcoin will not fall and as investors it’s best we develop positive mindset with our investment.

It sounds like you are doing pretty well with your investment and the insight you have drawn from Jay is worth it, if it were to be outside you would pay a lot to get this knowledge but here you get them for free. I will advise you to stay focused and stay on the path you're currently on. Dont sell your investment at all. There are chances that your portfolio is doing better than people who have invested for about 3 to 4 years. The thing is, long-term investment is all about consistency and you have shown full consistency for 1.5 years.

At the end of the day it's not about how long you have been investing but how much you have invested that will determine the level of profit one would have in his Bitcoin investment.

Mr JJG, the explanation you explained was quite good and added insight for me. I will make it a practice not to think out early and continue week after week to continue accumulating Bitcoin. Why do I believe that is because the money I use to invest in Bitcoin is money that is not used or that is not burdened in my daily life. For this reason, I will no longer say when the ideal age is for them or for myself to experience the results of investing in Bitcoin because it is all their own decision.

Apart from that, you are right that there is no satisfaction that we experience, I mean I have passed 72 purchases every week but I have the desire to reach 100 purchases this year and hopefully it goes with the plan I have laid out. Of course I have overcome many obstacles in the last 1.5 years and I have also learned a lot from you because I often read your posts which make me want to continue holding my bitcoin. Age is no longer a calculation because without us realizing it we pass 30, 40 and 50 years so quickly. For this reason, the best time is to use it in a good way, in other words we continue to invest in bitcoin.

Yes, a lot of people are currently close to that extreme of having nothing left in their portfolio because the center of attraction has been drawn from growing and advancing portfolio to the sudden amount of profits we can make from investing. People no longer admire Bitcoin as a long term investment, months into funding portfolio many users are already having that aura to sell, nothing they find impactful during the process only ending in a buy and sell options, no longevity.

I understand what you are saying about investment being tougher on other assets, because in other assets one has to deal with several regulations/approval which are time consuming and capital intensive. But on the other hand bitcoin investment can be started right in your room within few minutes and without anyone knowing. The only thing I find worrisome about your post is when you made mention of altcoins along side bitcoin. You know there are a lot of atrocities going on in the name of altcoins. Many scams and rug pulls happening with altcoins, people have lost their hard earned money repeatedly that's why we don't encourage people to venture into it. Bitcoin is the real deal and anything other than bitcoin should be avoided completely. You will notice that some regular users of this thread have quoted you on about this altcoins of a thing you made mention of because here we value what we feed the audience and we we don't want newbies and others to be mislead, that's why any thing other than bitcoin is not encouraged here. And if you have been doing it on your own, you should refrain from it so you don't get hurt or be a victim of it yourself.

That's very much correct that Bitcoin is very much famous for it's wild swings i.e. swing of price in both directions. Anyone coming to Bitcoin will recognise these swings sooner or later, though it's better to get yourself familiarise with these wild swings as early as you can.
As far as regretting of not investing in bitcoin is concerned, I think it's more wise approach to look what's coming ahead rather then looking back and saying that now it's too late to buy Bitcoin.
We do have lots of strategies (shared by you) about how to get started with bitcoin even today. What has gone is story of the past, let's just focus on the opportunities that are lying ahead.