Topic: Buy the DIP, and HODL! - page 231. (Read 140488 times)

It appears that @Briankimp1 is visiting this thread discussion for the first time which is why he is using the word cryptocurrency which is a generalization of all altcoins and bitcoin together but in this regard we are focused on bitcoin as a leading cryptocurrency which is reliable for a long term investment for investors, unlike altcoins that are projects not good for investment whether short or long.  But bitcoin is basically profitable in a long term investment that is why the DCA strategy comes in handy in accumulating for the long.

If you are a small size of portfolio or you just started your bitcoin journey, there is no need to thinking of selling, and there is no specific time to buy. You are to buy constantly whether the price of bitcoin is dipping or pumping, in order for you to keep growing your bitcoin portfolio. DCA gives you that chances to buy bitcoin at different price level and that is why a new beginner should use DCA to stack up his bag.

It is when you have reached your bitcoin target and you feel that you have enough Bitcoin, you can sell a little part that will not affect your portfolio size. The best time to sell by then is in the bull run, but from what I have understand, if an investor was able to accumulate bitcoin for 16yrs, if he sells at the dip, he will still be in profit. This is because his average bitcoin price of his portfolio will still be in profit, because the dip price of bitcoin when he wants to sell will be higher than what he bought way back and also the compounding value will make him not to be in loss.

I see what your trying to do. We are so close to achieving a new ATH. I guess your one investor that is anticipating it just like me. However your speculation is quite good but i will disagree with you that we will get t see a new ATH today or tomorrow. I am expecting it by next week. We many be close to the ATH this week, which means Bitcoin needs to do some consolidation before moving to the new ATH and during next week that is when we should be expecting it. Meanwhile this is my own speculation it may be true or not and you may as well be true or not on yours.

Surely i like the new title of the thread. Instead of people contradicting the name Buy the Dip Hold. It make them to wait for the dip and we've been so many argument concerning that point. Buying and Holding is straight forward anyone jumping into the thread can relate because the theme is clear.

You are right and I will like to add by saying Everything that has advantages also has disadvantages, and the truth about anything someone wants to do And that is why we need knowledge to know more about their advantages and disadvantages. As for me, after my research, I think that holding Bitcoin for a long period of time is more advantageous than disadvantageous, and when they talk of holding Bitcoin for a long period of time, I don't think they are suggesting just hodling it for less than four years before halving, which always occurs every four years. I believe when they suggest holding for a long period of time, they are suggesting holding for more than four years so you can witness one more bull run.
 
Assuming you have been holding Bitcoin for over 12 years now, will you be making a good profit or not? Surely you will make a good profit. So when you hear people say hold for a long time, it does not mean years short, like two or three or less. You need to do your research and know the reason why they are saying that. The bull run is among the reasons why people are suggesting that holding Bitcoin for a long period is the best because that is when the price always moves higher.The bitcoin market is unpredictable, and the timing market sometimes will never pay because of the price fluctuating. Are you telling me that when the price is going up, we should buy, and when it comes down, we should always sell? That can even make you continue losing your money. What makes some people think of converting their Bitcoin into USDT is when they are panicking because they invested what they couldn't afford to lose but when you invested what you can afford to lose I don't you be that panicking.

In the future, this could indeed happen, especially as this world will definitely continue to advance into a more modern era. So it is natural that Bitcoin is the asset that many people choose compared to gold. Because investing in bitcoin is much more practical than investing in gold. Apart from that, the advantage of investing in bitcoin is that it also makes it easier for investors to carry assets anywhere, as long as they remember the wallet phrase. This is different from gold which has a physical form, and of course transporting the asset will be much more difficult, if for example the investor moves. Of course, very tight security is needed so that the gold to be transferred can be safe. Although it is true, gold investment can also be done virtually and without carrying it in physical form. But still, it doesn't feel convincing.

Apart from that, gold also has quite slow price growth. This is different from Bitcoin, which experiences quite significant price growth every year. For example, this year Bitcoin reached ATH again. This gives us a clear conclusion that bitcoin has a very rapid price growth. So if, for example, we keep bitcoin for a period of 10-15 years, the profits we get will definitely be many times greater.

So it is natural that 5 or 10 years from now people will change direction from gold to bitcoin in terms of investment.

The discussion about bitcoin and put together with other cryptos can be confusing so when we discuss bitcoin then indeed the focus remains there because after all even though crypto is the initial discussion but in the end we are currently referring to one part in crypto, namely bitcoin and that's it so I think it would be better if it was only bitcoin that we discussed because it doesn't mean we put aside crypto but indeed the discussion will widen to other assets such as altcoins so instead of that happening it would be better if it only focuses on bitcoin.

In addition, I also disagree if this is only used as a short period because after all for some people who are in this discussion now they believe that the period is longer than that and some are even up to 10 years more although at this time I still set for myself is 5 years or more in the investment period that I want to do but in the end there are a lot of people who will invest in a duration of 10 years or even more and that you can see from some of the previous discussions so I disagree if you say being in bitcoin is only for the short term because in my opinion it is not an investment but trading if it is for the short term like that.

Though everyone has there end point target, but that doesn't mean people should just sell off along the line while the goal has not been achieved. That's while investment differs in time Horizon, if a person decide to invest in bitcoin, he may chose an investment package of either a minimum of 5-10years and also a maximum of 20-30years. so if the person who choses a 5-10years investment package sell of his HODLing during 2 or 3 years interval, surely the person has no goal or the person is inpatient. Though if he sell his bitcoin earlier before the predicted time, the reason for selling it may be for a serious issues but I don't see need because before starting the accumulation process it is advice that people should set aside emergency fund and reserved so Incase issues rises it will not affect our bitcoin HODLings. Selling it is surely an act of inpatient or for gambling porpos.

Powerful price action at the present despite the quite small steps it seems to be moving upwards like a vice with pressure to crack the ceiling, be optimistic while we maintain in this area.

  Staying above 71500 is a good build and I want to see it exceed the Tuesday high which is very nearby at 71792.    Then if we continue to build positively it can finally exceed the late May high of 72041 (great big green candle) and go onto new action.

All of this would be welcome rather then repeating the prior range of prices.    73895 way back in March is the eventual hope for a new ATH but its amazing how long it takes to process all the sellers along the way to get back to these prior highs.   Price is back above the 2 day average, stay optimistic while we remain with that momentum.

As am typing Bitcoin is already at price $71 believing that soonest Bitcoin price will get to another ATH, I have really learnt a lot in this particular thread buy the dip and hodl, when I first came across this thread I got confused I never understood what they where really discussing in this thread not until I was reading and studying along what other member here were doing but with the help of JayJuanGee and other notable member here I was able to understand little about how Bitcoin investment works, how one can accumulate more Bitcoin with the DCA strategy and also what one need to do in order to be able to hodl his/her Bitcoin investment for a longer period of time. I think it's a great previlage been in this forum and also coming across this wonderful thread BUY THE DIP AND HODL.

Currently at $71,xxx we might see a new ATH soon just that it always bounces off that zone.
Well said, JJG have contributed greatly and shared useful ideas relating how newbies, new investors can go about building a solid Bitcoin portfolio through buying, accumulating and holding with a long term view. Changing the name as you did already is a good one, for clarification as well as new and old members get to grasp the information in the thread in relation to topic correctly.

lol! This would have been a potential April fool or rather some sort of dark joke but my inquisitive self had to go check up the current price before accepting that you're actually right 😂 and yeah, you're actually right, but if you think he's wrong go check it out at the time this comment was made and you will know that you're also right 😊
yeah! You're still right.

you know that when an average newbie visits the thread and starts off, the word DIP has alwsys been a problem most people have face as it seems to be suggesting that it's best to buy during the DIP and then holding to thier Bitcoin and the end result has always been that they attempt timing the Bitcoin price to look out for a possible DIP to buy at.

I guess with the change of the topic to just Buy and hold although a better version of this change would have been Buy Bitcoin and Hold since it appears that most newbies tend to mix-up buying Bitcoin and hold to almost meaning same as Buying crypto or altcoin and hold. The change is going to put more context to the discussion and help newbies that are learning about the best approach to use in making Bitcoin investments do it the right way and not also engage in this discussion out of context.

For some Bitcoin holders ATH may not give much profit, but they can gain spiritual strength from the ATH. Everyone who is in this community and Holding Bitcoin is waiting for this day,and can take a strong determination in their goals by seeing ATH. Various strategies can work among the holders of Bitcoin to implement their goals, Bitcoin community will remember in the way JayJuanGee has highlighted the importance of holding. I also have a strong desire for Bitcoin Holding. When I failed to hold bitcoin in 2018. I do not want to repeat my mistake in future and want to make myself as a strong holder.

HAPPY NEW BITCOIN ATH DAY!

No, it has not surged to a new ATH yet, but it's going to be today, or perhaps tomorrow?

Plus JayJuanGee, the topic has become yours with the wisdom that you have imparted with plebs and with people who want go learn more about investing like me. Buy the DIP, or DCA are both good as long as the individual HODLs. It's probably better if the topic's title is changed simply to "Buy and HODL!", no?

But at least we can do something so that we can handle those possible risk or any issue that we  may encounter a long the way on our investment with bitcoin. If we sell to early then maybe we are just cutting out our chances to earn more since there are more higher potential that we could able to get more profit if we could just able to let it stay on our wallet then accumulate more for more years. But if there's something more important thing  to use and our emergency funds is not enough to cover it up then I guess there's nothing wrong to sell especially if this could help us to solve our current problems. We can start to accumulate again once everything settled and what important thing is we sell when we are in profit since that still serve the purpose on why we hold.

What's really important to consider by people is they apply all methods they learn here and could able to continue their accumulation at whatever cost since they could still earn in future. There's a lot of chance for people to gain so continue to accumulate and do those helpful methods what mentioned here. But people should know that there's nothing wrong for thinking about selling their profits since its up for the person if they are fine with current profit they get and what's more important is there's still a balance left for holding which they can able to use for next round of their long term journey.

You are obviously generalizing every other cryptos as Bitcoin which is contracting the point you are trying to make because there is a big difference between cryptos and Bitcoin, so perhaps if you're trying to prove a point you should use the word Bitcoin instead of mixing it with cryptos because when you mention cryptos you are obviously referring to other shitcoins which is not the reason why we are all here, though you seem to be sounded so interested on cryptos so if truly that's what you meant I would suggest you change your investment to Bitcoin because cryptos are not worth investing your money .

You should remember this, there is risk in any decision you make. Right now it is more risky to be out of Bitcoin than in it. If you sell all your Bitcoin holdings,  just after two years thinking it would DIP from the high it had just made, so you get to buy again  but It kept going up and made several new highs before it took a dip and it might not dip to what you expect to invest on it again. Holding onto your Bitcoin for the long term has its own set of rules and principles to follow. It's crucial to have some discretionary income set aside to take advantage of buying the dip without having to sell your existing holdings. Consistently sticking to a weekly DCA strategy while adjusting it based on your income changes. Selling all your Bitcoin holdings after two years and waiting for the perfect dip can indeed be risky. Timing the market perfectly is a tough game, as we have seen in the past when Bitcoin price surged unexpectedly, leaving some investors waiting on the sidelines. Missing out on buying opportunities at lower prices can happen if you're not careful. It's all about being proactive and not missing out on potential gains by trying to time the market. Holding onto your Bitcoin and staying invested for the long term is often a more reliable strategy than trying to predict short term price movements.

My only advice to you is stay away from shitcoins no matter how lucrative and enticing it may appear. I don't care if the shit promises to do x100 I don't care. Those things are mare traps to get you in. When it comes to investing money in shit coins don't do it, but if you get it through airdrops fine, but don't hold it for long with the hope of making huge money from it. Dispose it as soon as it gets listed on exchanges don't be loyal to shitcoins, only bitcoin deserves your loyalty as an investor.

Definitely it's a wrong investment approach you don't sell your bitcoin to buy back when it's dip. That is the work of the discretionary income, I know to you it sound smart but I must tell you, bitcoin Investment for a long period of time has its principles that is used to achieve that target. That is why it is often repeated in this thread to always have a discretion or reserved and floats to be able to buy bitcoin when it's dip and also maintain a weekly regular DCA without getting tired. though sometimes your weekly DCA may varies due to your level of discretion and you may decide to increase or decrease when your source of income also changes. Now let me ask you what if you sell all your bitcoin HODLing after 2 years as you said, and wait for bitcoin to dip to your expectations and it didn't? Because I know some folks some years ago have also fell victim of such, by sell their HODLing and expecting btc to fall and it didn't fall emediately rather it increase to a greater high before diping a little. Let me just say during the early part of January 2023, btc was around $20k+ most investors was waiting patiently for it to dip more before buying, but to there greater supprise it surpassed the normal price from there it has grown massively an they lost the opportunity of buying around $20k. So the summary of everything is that we must not procrastinate or sell our HODLing to rebuy, as the opportunity of getting bitcoin at that same price may not Be possible anymore. Though bitcoin price is volatile in the sense that it may even fall below the price you expect to buy and also may not be possible to fall to what you expect, so to sell bitcoin to buy back is not ideal.

That is a wrong thinking that you can use to increase your bitcoin portfolio by selling and buying back. Bitcoin price movement is unpredictable and that is why, you don't need to sell after two years planning to buy back during the dip. Here are the problems that you will face. If you sell after two years because you have made some profits planning to buy back when bitcoin price dips. What if as you sold, the price never dip below your selling point, it means that you have no bitcoin portfolio at all, which means you are like a new beginner. While waiting for the price to dip, you have killed the purpose of investing in bitcoin which is to grow your bitcoin stash overtime. This is why DCA is more recommended to enable continue stacking more bitcoin overtime. You have lost focus on your long-term bitcoin journey, because an unforeseen circumstance can come up that will make you spend part of the funds you got after selling all your bitcoin.

The dip comes like a thief, and when it will come, you might not be able to buy back more than what you have sold. You will also be very slow to reach your bitcoin target compare to when you are just buying without selling to buy back. Why don't you just forget about this your thoughts and continue to build up your bitcoin with regular buying weekly or monthly, because the investor who only focus on buying, will accumulate more bitcoin than you that is selling to buy back, because he is not waiting for the dip to come and bitcoin is the best store of value to put our funds currently. It is not good to sell on your way up. There is time for everything. No one can time the dip and that is where the big picture of gambling comes to play out in your suggestion.

Even if we completely separate bitcoin from the cryptocurrency ecosystem and bitcoin becomes independent, will that stop people from thinking bitcoin is a scam? The misunderstanding that bitcoin is a scam arose before the altcoin market was created. I remember in 2013 and 2014, the market still did not have many altcoins and only ETH, but instead there were Ponzi projects, HYIPs...using bitcoin as a payment method. And at that time many people called bitcoin a scam and bitcoin's reputation became worse and worse as more and more shitcoins were created.
Obviously, the main cause of this misunderstanding comes from people's ignorance. In my opinion, the only way to completely resolve this misunderstanding is knowledge, we just need to spend time propagating and educating so that people have the right understanding about bitcoin, shitcoin, crypto...that misunderstanding will be completely eliminated. Because as long as scammers continue to use bitcoin for their behavior, misunderstandings will continue to occur. But if people had complete knowledge and awareness about bitcoin then everything would be resolved and no one would call bitcoin a scam.