Topic: Buy the DIP, and HODL! - page 2. (Read 75706 times)

when you apply the DCA method or concept in your Bitcoin investment, you will definitely put the money you have into several parts, so the DCA concept is the most recommended for their who decide to invest in Bitcoin with a certain time interval.  Remember that only fools do not set aside their money to meet their daily needs but buy investment assets.

the beauty of the DCA concept is that you have set aside your money every month with the same amount without you needing to sell back to meet your needs, your monthly income example is $100 then you determine to set aside $30 every month for buying bitcoin every month in a few years or certain time interval.

Am still learning on this space, but let me throw in my opinion, for me I think at this point we don't need time the market, because no one knows when the bull will make its run, so as an Investor you just invest in this digital asset, then wait for the bull run , because the bull is a certainty just that we don't know when it will come , this is a type of investments you put on a long term, so you will have more profits,
But while Investing risk management strategies should be put in place too, just incase it doesn't go as predicted.

But unfortunately, not all of them can do it. Lack of budget is the most common problem that thwarts accumulation plans for every investor, they also don't need to force themselves to get a budget by any means just because they want to accumulate on dip. You can accumulate at any time as long as you have a budget, but I don't think you should force it.

Consider that you still need a lot of money to meet your daily, weekly and monthly needs. In fact, you still have to consider unexpected costs, bills and so on, so there's nothing you need to force even if the price is being corrected.

By the way, bitcoin fell by 3.6% in the last 24 hours. This may be the time to do some accumulation if you have a budget.

Is very wrong to have this kind of mindset as someone who wants to invest on Bitcoin because those are factors that can easily hinder your interest on Bitcoin investment because immediately you have this believe your investment mindset will immediately change which will possibly make your investment journey very unstable because you have already giving yourself a mindset that if anything such as health issues arises your investment becomes the solution,  perhaps this was the reason why the discussion of reserve funds and emergency funds arises because it is already believe that as the accumulation of Bitcoin continues there is always other needs and it could be anything so you as an investor should be able to manage yourself to cover those needs without tampering on your Bitcoin investment.

Their is no need timing the market because it is not a way of making profit from the market because the market can't be predicted.  This is the time to buy as much as you can and wait till the bull market gives the kind of profit you want. Real investors don't time the market because they know they will definitely get what they want from the market.  Most people that have the habit of timing and predicting the market are just so desperate to make money quick.

Now that the price of bitcoin is low the goal is to buy more Bitcoin and hodl because it will surely yield more profit. When you believe in hodling their won't be any feeling of doubt of bitcoin.

Ethereum, before they converted their network to POS, had a large network of miners that secured their blockchain to "maybe" not deserve to be called it a shitcoin. But after the switch, which they threw the best part of their network out of the window, then it became a shitcoin. That's merely from my personal definition. POS coins are shitcoins, and their community should probably research, discuss, and debate about the incentive-structure of POS and how the game-theory is different from POW blockchains, and probably why it doesn't actually work. But I'm the stupid one, they can make a straw man and gaslight me.

You can set aside an amount every month (when you get salary) for emergencies and through this future needs can be solved. Regardless of your medical or natural problems. Divide it in the form of a percentage of your extra monthly sum (after daily needs)so that you can oblige. This amount should cover 3-6 months of household expenses so that future investment funds are protected. Your investment success is related to your proper planning. However, this method of buying or DCA is the beginning of a successful Bitcoin investment, especially for beginners. But if you have a relatively medium-sized investment, you should prepare an investment plan for emergency situations as well. And the investment must be long-term so that you can take your desired investment success.

This happens to investors who don't take the proper steps before they start accumulating bitcoin. Investors should always make provisions for emergency funds that will allow them to solve any unforeseen problems at any time. Secondly, we shouldn't invest all of our money in bitcoin so that we can have enough money left to cover our expenses, and we will not depend on our bitcoin to solve our problems.

Actually, you're right, but then aren't they shitcoins though? I made a list of the 'top' shitcoins behind Bitcoin. Not implying that market cap is what makes a coin shitty, but there's that though, to some extent.
In the end, they're all shitcoins, regardless of your definition of the term, Reason being that all and every coin besides Bitcoin is shitty, given that there doesn't exist any coin now that's a btc alternative.

I may not fully agree to this that investment is only made by people who have more money than they can use,  reason because investment is a state of the mind for many have what it take but could not invest based on their mindset investment is all about planning, it is very difficult for any one who has not plan to come into decision making of   investing even when the money is there, likely also to those who invested and can't allow the investment to get to the required stage due to the demand of profit as emergency fund as their capital is invested together with emergency fund is lack of planing because good investor with well plan can sort out all this issue before entering into the contract if investing no body wake up and jump into something that he has no idea it, the inability to know and plan can leads to failure even when the money is there.

I believe if we have been talking here about things, approach to a safe investment has been often deliberated on, anyone who fails to proceed correctly having gone through this thread is left to face the outcome. Talking lamely about investment, It is frowned upon to invest what is very essential and vital for our survival even if it is something worth investing but the question should be, is it possible to face the repercussions when it calls for the demand of those vitals resources being invested. Same goes to Bitcoin, our funds are the vital assets that basically controls everything, our investment, our survival, emergency/reserve funds and when it is poorly shared or managed, we are bound to face the repercussions which can lead to tampering our investment, knowing this as a wrong approach we are to consider applying the right approach by investing in percentage of our income in a suitable and convenient approach that it doesn't affect us in any way, not doing more than our financial status all in the name of catching the DIP, It is extremely wrong just as you as well pointed out.

But i do have a problem with that. As a potential investor the length of time we hold our Bitcoin before selling, the more chance Bitcoins price has to increase in value aligning with the idea of long term investment. Investment maturity of 2 - 4 years in Bitcoin in my opinion is not comfortable for me to sell. If you have the privilege's of owning 1 Bitcoin or any amount of Bitcoin why choose to sell?. Anyone considering to sell there Bitcoin should think twice before selling. Because big companies are into Bitcoin investment after the ETF approval and the circulation supply of Bitcoin is low that it cannot be available four everyone, once an investor choose to sell, there big companies are waiting to steal it from such investor and it will be difficult as well as it will take a long time to get back that amount of Bitcoin again.

We all know how it wasn't easy when we started accumulating our Bitcoin, going through bumpy ride, no matter how high and how low the price goes we maintained consistency because of the reason why we originally decide to buy bitcoin and that same reason made us HODL. Selling to take 10% of profit is okay but selling off my bitcoin is something i would never do at least not today.

Infarct most of these investors sell their Bitcoin profit to fiat and start holding fiat which is quite not ideal to me.

That is more of the reasons why you as an investor, you definitely need a robust emergency fund, an emergency funds that can sustain you for the least three months, because aside emergency funds, you must have a monthly or weekly source of income to keep you afloat in your daily lives, without having to fall back to your emergency funds at any slit opportunity, because to me, emergency funds is meant for health or any other pressing issues that is out of your control that can't wait to be sorted out month ending.

But if your problem is still on the level of fending for your daily needs, then I am quite sure that, it's not the best time to invest, because since you can't even afford your daily needs properly, you will definitely eat your investment bit by bit till it finally collapse, when faced with a pressing financial needs, so the best way to have a stable investment is investing with a money with you can do away without for a very long time, not a money you need for survival in a short while.

This is why one must have an emergency funds available in other to take care of whatever emergency that arises during your bitcoin accumulation phase. A new investor that does not have his emergency funds ready, should not think of investing at all, until he have built up his emergency funds up to 3-6 months, that is when his investment in bitcoin will go smoothly, using DCA method regularly. What is the essence of you investing without an emergency funds, when you know that emergency funds is a back up plan to healthy bitcoin investment practice.

Why it is not good to sell your bitcoin for any emergency is because when the emergency arises, it might be that bitcoin price is at the dip, and because you didn't plan for unforseen circumstances in future, you will sell at lost. Only that can discourage that person from investing again, because he lacks financial management on his funds. We are not suppose to have only emergency funds, but we are to also have a reserve funds and float, to take care of any little expenses so that we don't start deeping hands in our emergency funds when it is not necessary. Like what @JJG said, investors who are close to their entry-level 'fuck you status' can use their bitcoin investment for their emergency funds, because they have reached the level that they take profit once a monthly to build up their emergency funds.

When you don't have an emergency funds, and a problem occur, you sell part of your bitcoin for that problem at loss due to the price of bitcoin at that moment, at as when the problem occurred. I am sorry, you might not succeed in your bitcoin investment if you continue like that, because you are always running at loss. This is why no emergency funds..no investment.

People who cannot meet up with their daily needs cannot invest in bitcoin, only if they look for other means of income to increase their overall income, so that they can have a discretionary income which can be put into bitcoin investment.

This is supposed to be what we aim for since it should be nice for us to do some good decision in regards on our holdings since once we reached on its maturity date or target date when to sell then we supposed to do some actions. If people are already fine with figures they see and they are ready to sell then for me its fine since that is the target we set and as long as we gain profit then everything is good out our end. But after those profit taking we should do our next plan since its good to repeat this investment since we already see a lot of good thing happen and its been tested for many years that bitcoin is really a good investment for long term that's why if we want to be happy and gaining for something in future then I guess its good to have good start again on bitcoin then do DCA again to gain profit for next 4 - 10 year cycle again.

Selling our bitcoins out of panic will never bring any positive result to us that's why its important for us to know certain changes that might happen on the market so that it can strengthen up our believes that this good cycle will continue to occur for more years of existence of bitcoin. So if they continue gain knowledge for sure they will never get affected by any fuds but rather they will focus to build up their portfolio and how to be more successful in future by help continuous accumulation and proper execution of their DCA strategy.

Emergencies can occur at any time so we are required to make every effort to overcome them, including sacrificing the investments we make.
For example, health or education problems are problems that cannot be tolerated when you need money immediately.
I don't think it's a problem or a fear for us not to start investing, problems that occur unexpectedly in life are a normal thing in my opinion, and I never thought it would be a reason for us not being able to succeed in investing.

This is different from people who are unable to meet their daily needs, such people certainly will not think about investing.
Investments are only made by people who have more money than they can use and the better option is to invest compared to saving.

Yeah of course you are right because one of the factors that courses such panicking is over investment which could sometimes caused by fear of losing out buying opportunities because this factor has propelled numerous investors especially the new ones who doesn't have a good knowledge of investment to get into trouble on the long run, actually being consistent on accumulating Bitcoin is very important but with the length at which most investors are going about it is actually wrong because whenever they see a buying opportunity they tend to invest everything they have at that moment and later they will start having some difficulties taking care of themselves and from their all they will be doing is monitoring the price of Bitcoin and of course it will surely result to a serious panicking which can even results that investor selling his investment.

So actually most of the failure of investment is caused by greed and poor planning because an investor who has a clear vision of holding will never be clouded by greed of taking advantage of any opportunity because his target is for a long term holding and to remain sustainable their most be some measures and limits so that his investment will never be affected on the process.

I don't have a problem when people who have gotten to their maturity date in bitcoin investment decide to sell part of their bitcoin, provided they are not going to sell off everything and have no bitcoin in their possession. But selling off your bitcoin possession due to panic and uncertainties is really a bad thing and there is no profitability in that. Know it fully well that there are those who specializes in spreading fud so that market will go down paving the way for institutional buyers to come in and buy bitcoin cheaply.

Those investors should not to be taken seriously considering that they will always run to sell of part of their holding to solve problems. This set of people cannot successfully hold bitcoin for a full circle. Don't make investment when you cannot feed yourself and take care of your basic needs without turning to their investment. When we do invest, turning to our investment to solve problems should totally be out of the equation.

That is the truth of this system, there is no way you can win the raise by combining your investment with your emergency fund because money has it spirit and human want is insatiable as problem keep rising you won't know when you have exceeded the limit of touching the main investment fund , which is very unwise for any investor to practice. Like I always argue over my last post no body run a raise looking back can win the raise with good results if you invested for long term holding through the DCA strategy and you keep on monitoring the market and withdrawing your profit before the time, based on the facts is your entitlement and your investment as well, it really show that your not ready to keep to the investment rules which will help you at the end because all the profit you withdraw is still meant to have some impact of increasing your accumulation, for those who are good in maths you believe me that if you invested $200k for 4years and you leave it without touching the profit the yearly profit will also add up to you capital to increase the investment for the next year which authentically increase the subsequent year profit. The best in all us to free any thing that will leads to touching your investment weather profit or not to mature it accumulate to the actual year of investment.

Proper planning must have been put in place because Long term investment is not something to jump into without adequate preparation or planing, I see why people always focus the profit gain in there investment before the actual time of maturity is as a result of lack of preparation and planning which don't work well in this kind of investment, like my people always said that rabbit of one hole is easily killed by hunter, it means your investment won't survive the heat since your not prepared because your meant to zero your mind in anything withdrawal and use other means of income as those things is already in place before venturing into long term investment.

you know that the uncertainty regarding the gravity of emergency situation that might arise during the time we are still holding our Bitcoin is one major factor that might affect some people's budget on which amount should be kept out for emergency situation and that mentality that keeping up to 4 to 6 months of your earning as emergency funds is too much could sometimes put you in a situation where you would want to reduce the allocated amount for your emergency fund thereby exposing your Bitcoin holding to a possible touch in times of real emergency. real life emergency situations like health challenges and impromptu events doesn't really come with little demands and so  it's damn necessary we allocate a good amount of funds into our emergency funds wish will in turn serve as a sure shield that will protect our holding from being tampered with when the real shit plays out

You've forefited the purpose of having an emergency funds the moment your holding starts doing the job of your emergency funds and that's going to only end up stagnating your portfolio and if you consistently take out a part of your holding to solve a supposed emergency that you should have earlier made adequate plans for, you will likely spend years and years accumulating your BTC but will never be able to stack up a good chunk of it. Part of what might help our BTC holdings is to treat it as an independent asset that's outside our control  and by doing so, our plans and expense doesn't in any way brings it to the equation as a possible option to be considered when looking at a means to getting funds to sort out real life shit should there be a challenge that's more heavier than our emergency funds. And the truth is that if you've decided nothing goes out of your BTC holding untill you're able to stack up to certain amount and you're serious about it, even when a supposed emergency comes up to tempt you to touching your holdings, there will always be an alternative option that you have to take outside of your BTC holding and so I feel there is a lot that your mindset and mentality plays towards your holding.