Topic: Buy the DIP, and HODL! - page 22. (Read 121623 times)

At least a little understanding is very necessary because they cant start investing if they do not know the safest exchange and how to buy it form them and send it to their wallet. The process of buying and storing should be the most important thing they learn fast then how to manage their investment and other knowledge can be learned later. It's just like going to cultivate without any tool, while it's essential to have a tool and know how to use it manually before thinking of buying bigger engines that can facilitate and modify the process.

I see any other knowledge that we ought to learn after investing as sustainable knowledge. That is what triggers us to hold on to our investment as long as we want to.

Yeah, that's what I am saying about basic knowledge. Understanding that Bitcoin is moving quickly and prices vary from time to time.

It's true that they can buy and just understand it later. But in general speaking about investing, someone shouldn't get into an investment that they don't totally understand even the basics of it.

I would suggest that Odohu used the term lump sum correctly, since he was talking about receiving an extra amount of money that was outside his normal income, so when that money comes available, he is considering how to invest that money, and he was considering that he was going to be investing the money right away, yet he would prefer for the BTC price to be in a dip status at the time that his extra money comes available.  He is not holding back and waiting to buy on the dip, he is merely waiting for the money to arrive, and he hopes that the BTC price will be in a dip status when the extra money arrives in his bank account... that seems to be a proper use of the term lump sum.


It seems to me that the more that a person might be worried about BTC volatility in the beginning may well be mitigated (and/or addressed) by BTC position size, and sure that might mean that he starts out with a small investment, and he studies bitcoin in order to become more comfortable, yet it still seems important to emphasize the part about getting started rather than emphasizing the part about trying to feel comfortable prior to getting started.  DCA should also help a person to get started, so as he is getting used to BTC, he is DCAing something like $100 per week and perhaps it takes several months before his BTC
position size starts to add up to a decent sized amount of money... and surely in the meantime while he is buying bitcoin every week, he can be studying bitcoin and yeah sure the larger his amount of money into bitcoin then the more and more motivated he should become to learn about bitcoin.. . ...and so I surely would not be encouraging anyone to be ignorant about the thing that they are investing into, yet people have busy schedules so it can take them time to learn about bitcoin, but their need to learn should not stop them from getting started investing into bitcoin, even if the starting amount might be relatively small as they are learning about bitcoin. ... and if $100 per week is too much, then figure out an amount that is comfortable to be putting in during the earliest of days in which there also might be some studying and learning taking place too. 

A quick glance at bitcoin's historical price should be able to show that bitcoin can be quite volatile and unexpected in regards to which direction in the short term of less than 4 years...hopefully anyone getting involved in bitcoin would be shooting to get involved  for 4-10 years or longer, and so if they are brand new to bitcoin, they might need to study it in order to get comfortable that their investment is 4-10 years or longer.. but they do not need to study prior to getting started.... and in the end, each person is responsible for his/her own investment strategy, and waiting surely does not seem to be an investing strategy, at least not from my perspective, but if someone invests into bitcoin and they are crying that they are losing money in the first year or two, then that is their own responsibility to figure that out, not mine since I am not telling anyone to have less than a 4 year investment plan and even after 4 years I am not responsible since they are the one who made the choice whether or not to invest in bitcoin and how much to invest... and how to go about their investment, and if they are so short sighted as to choose not to invest and to study bitcoin instead of getting started, that is also their own fault for considering that to be a good approach to bitcoin.  The best approach to bitcoin is get some and be responsible for how you go about it.

Most of the owners of those others coins come up with things that are too good to be true to attract people to invest in them, and it pays off cause that's why many people still buy Alts and shitcoins out of ignorance all in the name making profits in the future, though some are out of greed too cause they're aware of the consequences but are willing to take chances despite knowing they could lose everything. Over the years, Bitcoin has shown that it has the ability to reach different ATH and it would still set another in the near future, which makes it the best Cryptocurrency for investment, that alone should discourage people from buying other coins for investment purpose but then that's where ignorance and greed comes in like I said earlier. Well, another thing is lack of patience some of those investors are not willing to wait for long-term cause they want to make quick profit, they disregard the major benefits of the future and chase after quick profit that seems very risky, forgetting or not knowing that Bitcoin investment got strategies that helps counter the risk of loss and that's why it's completely different from others.

Yes, of course at that time the decline in the price of BTC was very scary, yes it fell to around $65k, but now the price of BTC has risen again to $67k and of course this is a positive movement for BTC. and of course people who buy at that price ($65k) will definitely have made a decent profit.

yes, your statement @Jay Juan Gee is indeed more optimistic. and what is certain is that at this time I also hope that the price of BTC will not touch the price of $65k again. but I am optimistic about BTC for the future and now I see BTC holders getting stronger which of course will make BTC have great potential to rise even higher.

Yes, there will always be ups and downs in BTC prices, but of course the real proof of BTC is that it has never disappointed its holders until now as long as can be patient and hold BTC for the long term.

Bitcoin alone holds itself in a strong position in the long term.  Altcoins can't hold their position in that way for long.  Bitcoin can return to its maximum ATH at any time.  People often fall into a state of confusion during ICO.  They are confused with attractive white papers.  People buy these coins hoping to make more profit and face losses.  They steal huge amount of money by tricking common people. Bitcoin Pow is fair and realistic where miners do what is best for the network.  Finally let me say that Bitcoin is a completely decentralized institution and completely different and risk free from other coins.

You seem to be misunderstanding Odohu a little bit, there is nothing absolutely wrong making certain level of preparedness in terms of buying the dip in your ongoing dcaing, so far it will not affect your other living expenses or make your investment look like a burden to you, just that when proper planning are not made towards buying the dip one can use the money that not meant for investment to make purchase or probably over do it because it can be very tempting, emphasizing buying the dip along side  dcaing it not for everybody alot can decide to to remain focused on their DCA as not to be distracted and have a mismatched by default.

The price of Bitcoin shouldn't stop you from making your purchase besides Bitcoin price is not stable as it always fluctuate, with the price of Bitcoin you mentioned before you can accumulate which is $65k and the current price of Bitcoin now which is $66k it simply means your plans is to buy Bitcoin when it is dip which is not actually good for some one who is still growing in his Bitcoin journey, so it means you won't buy Bitcoin if the price moves above $65k which has already happened.

Since you are still maintaining your DCA strategy you can still do your lump sum regardless of the price of Bitcoin since your plan is for long term so you can have enough amount of Bitcoin in your possession which is your primary target and hodl for the future.

Basic understanding is enough to start your bitcoin hodl journey since you will not care about the prices especially if you do DCA,  your main concern is your accumulation and not those unnecessary things that can bother your focus.

But you can continue to learn while on process of accumulation since its important to start since if you wait for long  time to learn a lot of things then provably that you will just face some delays since provably you will doubt to start especially if you see the market is dumping. I understand your point, but if you are at the point that you are sure to invest with bitcoin and already know that this is good asset then start to invest. You will only loss a lot of money if you trade it , but if you are buying and hodl it for sure the risk is so low since your money is just there waiting for the timeline you set to sell it.

They still need to understand the market before investing.

Someone who's investing without basic knowledge is going to have emotional hiccups and might panic in the end. That's why if there are beginners there, I still advise them to at least learn and understand what volatility is before buying Bitcoin.

It's hard to buy something that you don't understand even if the crowd says that it's fine.

Long-term investment is better applied for every investor, they only need to make purchases and hold. Yes, maybe the points you make are quite good, but I think investors will not expect profits in the near future unless they have invested since 2015. So far, many old btc wallets have been active again by transferring their btc to the exchange and the btc wallet is 15 years old, where the owner made his first deposit to kraken by selling a little of his ownership.

Source: https://x.com/ArkhamIntel/status/1848450924773040151?t=XDEGBajc95rOl5csLoBKTA&s=19

So in conclusion, if we invest in the long term, there is an opportunity to make a profit and it is not impossible because we have seen btc continue to rise in price.

Wasteful withdrawal fees can probably be prevented, by withdrawing it every month compared to once a week. So the main thing to do, can we fully concentrate every week to keep buying bitcoins.

I'm bullish and have been for a very long time, I have a criteria that will flip me to bearish and I dont see that happening this cycle. Have a look a through JJG's posts about pricing your stack based on the 200 wma & a +/- % set amount. I used this as a basis for my criteria.

The key lesson to my bullishness was going through that period from the last cycle ATH down to the current ATL, I was in the red for much of that period but I continued my DCA journey. Now this period of time helps me deal with the current time much better, I have a % under the WMA that I can attest to being ok with. Past experience helps with future performance :-)

The price movements day to day are not really that important to me to be honest, so when I think about the concept of bullish and bearish I think more about large periods like years over the current 4yr cycle where one can be either or. This bullish/bearish flip we see amongst forum members every couple of days is a waste of time for an accumulator.



F*ck I thought my post was airtight, point conceded lol






I dont know where you are in your own journey, but one strategy I used this year a lot of was taking those large injections of cash and increasing the DCA amount for set periods of time. Main reason so I wasn't waiting for X price to buy in case X price never materialized. So if you still in accumulation that maybe something to think about. I get it we all want a lower price to buy at with large money injections, but I think in the grand scheme of things there is not going to much different between buying at 65k or 69k when you start to look at it from the future perspective of this cycle's ATH.



Cheerleading a part time or full time job? Do you wear the dress too?

From my empirical point of view,  i think you might be having some kind of misconceptions about the idea of the lump summing but you can correct me as well if am wrong, my point is that, the idea of lump summing as a strategy completely has nothing to do with the price point because you are making purchase right away with the lump sum amount that is made available for investment irrespective of the market conditions. Your narratives are more of emphasizing about buying at the dip rather than a lump sum buying. The idea of the lump summing has more to do with the investors decision in terms of the available amount that he want to use and make a reasonable purchase right away and whether there is a dip or not.

That's why we need to understand that investment must be done in a much more responsible way and there is no need to force it beyond our capabilities. When thinking emotionally and greedily in making a profit in bitcoin, someone will be trapped with unhealthy thinking skills and try to do something quickly to make a profit, but in the end we reach a stage of loss that was never imagined. In fact, when we use a long-term pattern, the investment method used should be much easier and we can slowly collect bitcoins.

Waste of costs is a problem for some people who may be involved in trading or investing, but the method you convey can be applied by those who buy bitcoin with a slightly smaller budget. Once $500 is accumulated, people can send bitcoins to a much more secure wallet, making the sending costs much more affordable for those on a smaller budget.

A new investor who wants to start his bitcoin journey right away does not need to have adequate understanding of the market for any reason because the market is unpredictable and he will waste his time trying to understand what is impossible which will hinder him from taking advantage of the opportunities in the market if he has started buying right away.

This is one of the reason why a new investor should adopt DCA accumulation strategy because it does not care about the market since you are buying whenever you plan to buy weekly irrespective of thw price of bitcoin at that moment. DCA enables you to buy bitcoin at all market level both in the dip and when the price is high. The most important thing is that you continue buying bitcoin eveey week with consistency and persistently for 4-10 years and above.

A new beginner don't need any understanding about the market because his focus is only on buying bitcoin overtime without selling. It is hard to predict the dip no matter the knowledge that you have in the market.

Every investor must have adequate understanding of the market before investing. If an investor does not understand the market conditions, then the investor may miss the big opportunities that will come sometime. When it comes to long-term investing, an investor should always be active and exploit the opportunities that come their way. Ordinary investors get frustrated when the market goes down, but professional investors see the market going down as an opportunity to increase their investment. Because if you can invest when the market is going down, then when the market goes up, there will be a good chance of profit. Such opportunities will not be missed if the investor invests consistently, so every investor should invest consistently according to his ability.

Bitcoin wealth is a volatile one yet it continues its momentum like a constant stream. If we look at the Bitcoin market structure, we can see its volatility which you and I can be relatively depressed by, but I think that regardless of the volatility of the market, if we invest in Bitcoin for the long term (DCA) method, We can get a good return. You said well but we can't really give any explanation as to whether bitcoin is going to sink on 25th or not. Of course we should dip into growing our portfolio, which is by no means a waste of time.
I think we should charge a price for investing bitcoins, maybe on weekly income. Irrespective of monthly or weekly income increase or decrease, we can keep a certain amount from there to invest in Bitcoin.

As an example, let's say you have a monthly income of $120, from which you can invest $80 in other activities and the remaining $40 in Bitcoin. have the attitude that you will invest $40 a month regardless of the ups and downs. And if you have other means of earning money then you can increase the rate of Bitcoin investment.

The price of Bitcoin is currently showing an upward trend in this month of October, because we can call this month of October as the month of Uptober. Because Bitcoin prices have seen bullish rather than dumping prices, we can use October as the best month of the season and as a ladder. 
Since the Bitcoin price rally is over, now only the Bitcoin price is running towards the maximum speed. And we can move forward step by step with the aim of touching the next target 80k, the second target 100k dollars, and the third target 150k dollars.

Absolutely your statement is more bullish, compared to his. Yours is coming from a more believing mind, while his is bit shaky like some who is not yet convinced.

I stand with you, $65k might never happen again! ☺️☺️☺️

I actually want the price of Bitcoin to get to $65k this week so I can make a major investment I'm planning this weekend, then from next week it can start shooting up   . This might sound selfish in a way but that is just my wish because of my targets. This weekend I'm expecting my salary and several annual allowances including profit sharing, 60% of which I want to invest in Bitcoin through lump sum buy even as I have my DCA method still running smoothly. So, the lower the price of Bitcoin, the better for me because I will be getting more Bitcoin with my investment than I would get when the price already surges. Nevertheless, whatever be the price I do not really care because I'm not looking to sell anytime soon. I may be bullish on the long run but for now I want a little retracement to enable my orders get filled at decent prices.