Topic: Buy the DIP, and HODL! - page 224. (Read 109042 times)

I got a question from my friend because he knows the price of bitcoin has become very expensive recently. He was a person who was new to bitcoin and he asked me because he thought I was quite familiar with bitcoin. He wants to buy bitcoin because of the very high profit potential of bitcoin. I actually told him to buy some bitcoin and hold it while it was still $35k but he refused because he thought it was too expensive for a digital asset and he didn't think it made sense. When he found out it was going to be $60k about 4 months after I told him, then he became interested

But the problem is, is now the right time to buy bitcoin? considering the price is very high and prone to correction. I can only advise him to buy with the DCA model or wait for the price to correct. When he asked, what is the right price to buy bitcoin? I can only shake my head and say "no one knows"

Do you have any good advice for my friend? Honestly, I was confused with my answer because Bitcoin was very expensive and I was afraid of giving him the wrong advice

What is your investment style are you holding long term? 
If you are holding for long term then surely you can sell your holding due to the lure of benefit. Because you mentioned the benefits as prices rise, here's how to retain your long-term investment. And regularly discuss DCA method how to earn bitcoins, so you should stop such discussions because holders will learn something wrong from your discussion. Because in the current time when the price of Bitcoin has risen, everyone's investment has earned dividends and the portfolio has grown. So you discuss the DCA method to keep their decision right, and hold Bitcoin for a long time.

the market situation will turn green again and this is only a correction that I predict will only be temporary, but you don't have to fully believe it because no one can predict 100%. Worry does not have to be in the minds of the holders, especially since they bought at $30k, which of course this decline does not affect their mentality at all. I agree with you that the decline that occurred today should be used to buy at once with your savings.

If you look at the price of Bitcoin, of course Bitcoin has recorded its highest price today. Today Bitcoin trading volume increased quite significantly where a big pump was carried out and Bitcoin managed to record a new ATH.

I know this might not be  the best time to buy, but using DCA this period may be the best option to accumulate (being less aggressive), yeah bitcoin would surely undergo some certain correction and DCA may also help us in buying doing that correction. What the purpose DCA is to accumulate bitcoin at any price range either doing high or low of bitcoin price . Because predicting market movement kinda impossible so DCA would help us to be stready. You mentioned that they should the till the bullish season is over then they would continue with their accummulation, so in a scenario the bullish season with bitcoin price being in the price range of $100k+ at then. So would it be better to leave the price range of $60k and start accumulating at $100k+. But if one was using DCA to keep accumulating and bitcoin undergo a dip and one still accumulating using DCAing . Whenever bitcoin price experience a great surge. That individual would be in a massive profits and it would also help  in not missing out expecially those who that are holding for long-term. I have miss alot of opportunity in this space (bitcoin) because of not understanding or knowing how it works, so this time around am not taking any chances to miss any opportunity again.

Yes, bitcoin is already high and other coins follows. This is not actually the best time to buy but not that if you buy you won’t make profit, you will make profit that is for sure because it is the bull run season, Each time the market goes this way. We really don’t know where it will hit because it has already gone high. It’s all depending on the amount you want to invest in that will determine the kind of profits. You are looking up to the Profit should be more better when bitcoin and altcoin is Dip before the bullish market. Right now the bullish market is on and coins are pumping higher so if you want to go into buying, that should be better but it shouldn’t be now it’s good to wait until the bullish market is over and you can now buy hold.

I thought of same thing also , no one actually can tell the future of market movement, but through analysis they could speculate about what would occur and most time it may happen or it may not. Bitcoin halving is pretty close now which around next month. I think this time around we should reduce our rate of DCAing (to be less aggressive), that would also help to save alot of funds for th Dip bitcoin may undergo during the halving while DCAing . And due to bitcoin movement lately, after this upcoming halving bitcoin gonna surge massively undergoing another breakthrough in hitting $100k+.

It is difficult knowing if price is continuing the rise from this point or going lower. At this point, the market can go either way and entering now will only favor long term holders. Instead of this confusion, the DCA method can be applied. In that case, if the price continue to drop, one can continue with the DCA to get more bitcoin at lower prices. On the other hand, if price reverses and continue the uptrend, then the investor have the chance to see his entire portfolio in profits almost immediately. Whatever be the case, in order to avoid the confusion of knowing where the dip will end and possibly missing out on the move, the DCA method is a nice solution to such confusions.

When the market changes suddenly like today, of course this is where emergency fund reserves are needed to buy bitcoin at cheap prices. Don't worry about your decision, just place an order at several price points where you think the price will drop to the price you want. Every dip is an opportunity to buy and do so with the DCA strategy to find the low in recent dips.

I think the decline that occurred today is because many investors are taking profits on their investments and we are on a bitcoin accumulation journey so it is time for us to buy a little more aggressively from the funds we have. Apart from that, don't believe the news currently circulating on the internet because when the market crashed there was a lot of fud circulating because they continued to do fud to be able to buy at a cheaper price. Keep trusting your decisions from within your own heart.

Now the price of Bitcoin is increasing day by day it is the opportunity of people who invested for long time ago to make a very good profit for their investment that is why we encourage everyone that want to accumulate it Bitcoin to do so during the time of a bearish season because you cannot expect that as bitcoin is going on is the best opportunity for you to invest in Bitcoin that is not the best time to invest in Bitcoin because the price of Bitcoin before at any point in time as it is increasing so the best opportunity to make a profit or to accumulate your Bitcoin is when the price is on the bearish season so that is why we have to follow the procedures of Bitcoin if you want to accumulate our bitcoin and also make a profit on the process that is the best time to invest not as Bitcoin prices going up

It's not really advisable for him to publicly tell us how much he has invested in bitcoin, I don't think it's really wise, ranging from different kinds of reasons, but the most important is security reason. I will even advise you not to go about telling people how much you have invested in bitcoin, as you can't possibly tell who might be jealous of you and will be planning to attack you. It's not wrong for someone to advise people to invest in bitcoin, provided he is not forcing them to invest. Moreover someone can pick the  advice and make good use of it by investing in bitcoin and  benefit from it.

You are actually right bro, though their is a correction going on in the price chart of Bitcoin right now,  so i think it's unwise for most investor to wait further for the price to deep more, before they buy, Because that opportunity they are waiting for may not come, and they will miss the opportunity, so as a Bitcoin investor, they should be looking at it long term, so it's even ok if they buy at this current all time high because Bitcoin have the potential of going up to 150k in the nearest future, so buying at 69k is a bargain too me if you are a long term thinker

I agree. People will have to compare now this cycle that we're just starting out and we're not yet in the halving. They think that the peak is in because it has hit the former ATH. It's not yet the peak and look it was followed by a quick correction. This moment has given everyone the discount again and another time to buy so, if many have missed the time of buying when it hits before the ATH, this is the time that you're all waiting for. Because you'll never know and you may not see it anymore when the price starts to hit back at the top and this is going to be a long road again until next year. You buy the dip, HODL and be patient. Actually, there's no point of selling because it's still 1 btc = 1 btc when you don't need that money because Bitcoin is our money. 

I don't know why guys here keep repeating non-sense and factually inaccurate information.

The previous ATH from 2021 was $69k (and yeah there may have been some variance from exchange to exchange, but many of the forum regulars use Bitstamp as the standard, and that $69k high was from Bitstamp), and so about 3 hours ago, the BTC price breached the 2021 ATH, and went up to $69,210.. and then corrected after that.  So our new ATH on Bitstamp is $69,210.

Here is a screenshot from about 3.5 hours ago.




Ahead of who?  Of course, any of us who have been in bitcoin for a while have been accumulating, so we are ahead of the current entrants, but we still need to know our comparison point and/or why we would be comparing ourselves to anyone other than ourselves.  Sure we might have some real world rivals, but I would think that the main comparison point would be to compare alternative versions of yourself in order to try to make a situation that ends up being best for you (if not best, at least reasonably trying to improve your own situation).


Ok.   If you are saying to buy the dip, that may or may not be necessary if someone has been buying all along.. or maybe someone DCA's weekly and so there could be a question when the DCA might come due.. which day of the week or if there might be some other time period that someone might use if they were DCA'ing.



This part sounds correct   -in regards to maybe having a plan and continuing to accumulate BTC to have more options, but still people can be at differing stages of their BTC accumulation journey.


I probably agree with this part too, since it is likely that more people will learn about bitcoin and get involved in bitcoin because they know other people who are involved in bitcoin.  So in that sense, sharing information about is caring and/or potentially helpful to open them up to bitcoin if they had not previously gotten involved in bitcoin.

It already happened when you were not looking. Now it is making minor corrections before it decides on what to do next. Both those who have been applying the DCA method for some years now and those who bought the dips can all look at their portfolios with smile and a sense of fulfilment for taking the decision to invest in Bitcoin while the critics and those who doubted Bitcoin are feeling regrets now. Well, since we are discussing long term holding here, it does not matter if price has made new all time high or not.

We should be careful not to fall into the temptation of thinking that price has peaked therefore now is the time to sell and not buy. I have seen some posts in that direction so we must be careful not to fall into that trap. We should not forget that we are holding for the long term because that is where most of the benefits are. If price can achieve all time high before the halving, then we will be talking something bigger after halving.

The important thing about this is the moment we are at now, we have not reached the point of the last ATH, but we are ahead of them, and it is possible that we will get there, this month or the next, but we cannot lose the huge amount, while we can buy bitcoin, if it is in our hands, we have to do it, there is no doubt, we are people who will always do things differently if we set our minds to it.

Bitcoin is an opportunity, people see it as something that is very difficult, but we have to see it for what it really represents, opportunity, there is no other way to see it if we have not matured with that concept, we are going to invest with fear, If we mature that concept, we are going to invest in bitcoin happy, happy, because we know that it is going to take a steady shot towards the top, that is the true conviction, if we have that well defined there is no problem , but how to do it so that they open their minds to others? With your own experience, it is the only way.

Achieving a new ATH is very possible for Bitcoin this month because the highest price today is quite close to $70K so the potential for Bitcoin to reach this price range is very possible as long as there is no correction whatsoever in this bullish market trend. We can see that there are many people who are quite happy and are also waiting for this to come to Bitcoin because those who previously had no doubts when buying Bitcoin must have felt the benefits now because Bitcoin is still increasing non-stop now.

I am quite sure that this will break through this month because I see that there is still quite a lot of buying demand in almost all crypto markets. So there is no such thing as impossible for a new ATH on Bitcoin which could possibly occur before the halving this year, because the effects of this are also quite clear and very real.

@Kliss My point is how much you have invested in Bitcoin yourself, because you cannot advise others to invest without investing yourself. Here we will invest in Bitcoin for long term holding following DCA method. Because whenever we discuss the price in Bitcoin, the greed for a share of the benefits of our investment can wake up inside me, so many people sell Bitcoin out of greed. So we will never discuss Bitcoin price here, we will discuss how to hold Bitcoin for long term and invest regularly.

Because I have invested about 11 months running, I will keep it for a long time so I will never worry about the benefits. I am interested in how do I deposit bitcoins.

We are already close to that in USD price since there are few bucks left before this scenario where bitcoin reached its ATH. But for other currencies it already broke at and many people in some parts of the world are celebrating for what bitcoin achieve.

This written by blockworks is really intriguing https://blockworks.co/news/bitcoin-ath-vs-other-currencies and we can see how good the current situation of bitcoin where it can able to pump for more. Those people who buy at cheaper price are so happy now seeing how things going on bitcoin and for sure they already earn a lot on current price shown by bitcoin.

This indicate that long term HODL is really good since if we bought ours earlier at much cheaper price then we can experience the same thing just like what other investors before who believe on strength of bitcoin.

the rate bitcoin is moving is really amazing, same time tempting holders faith. That why we that haven't gotten good accumulation of bitcoin yet should not focus on the profit we have made recently from our holding due to the recent bullish momentum of bitcoin. But to focus on the future profit we gonna made from our holding and accumulating ( going to be massive), recently when I take a peep on my portfolio (like I said back then not the type that check his portfolio on a regular but ones in a while) I was kinda proud of myself seeing ma portfolio growing due to my accumulation using DCAing and the recent bitcoin upward movement. Seeing that encourage and inspire me to keep accumulating and holdl.
you are right, we all know that securing your bitcoin is one of the important things we should consider before starting the accumulating of bitcoin and holding . That why is always advisable to use a private (non custodial) wallet for storing your bitcoin, than using a cex account to store or hold your bitcoin (because it can be easy target for hackers) and we all know this saying "not your key not your coin" . Still when using a private wallet, one still need to be cautious , because keeping your bitcoin in a private wallet don't me don't me your coin is fully secure, that why you have to avoid connecting your wallet to a website promising to offer bitcoin. Because their main motive is to make your coin in your portfolio disappear. Let's learn from others than letting experience to teach us the hard way .

We are not done yet if they think about they are late. They can accumulate at what situation they like and they should forget about the late word since there's still huge chance that we could able to see a lot more of price pump. We can see that we are now at $62k+ as of this writing and halving will happen soon and the counter say there's 47  days left so provably expect to see a lot more of it especially that many people are not done since majority think we can hit 6 digits for this year. If they really want to enter they make sure that they are well prepared and know how to deal with certain happenings that might occur so for them to succeed on their plans to get a good result on their investment.