Topic: Buy the DIP, and HODL! - page 248. (Read 136095 times)

From June 2022 to October 2023 price of Bitcoin remain mostly under 25k and it went down to low value of 16k. From this price window one can easily figure out that why it's ideal time to buy when spot price is below 200-WMA.

https://bitcoindata.science/withdrawal-strategy this is the only tool I use to figure out relation of spot price and 200-WMA. You are correct in saying that from June 2022 to October 2023 200-WMA keep moving up as evident from the 200-WMA graph there.

Spot Price vs 200-WMA from June 2022 to October 2023


Right now bitcoin spot price is 60k and 200-WMA is standing at 34k. So if there is no drastic decline in Bitcoin price then chances are that spot price will stay above 200-WMA for quite a while. 

A really big correction! Bitcoin price is now sitting above $61k though. To me the value of Bitcoin is not the main thing in investing right now the main thing is to use the DCA method. As we are of the opinion that Bitcoin may reach unique highs in the coming days, although we cannot say where the price of Bitcoin will end up in the end. Although many are saying that the Bitcoin run could start by the end of the year or early next year, if we can invest in Bitcoin using the DCA method for the next few months at the current price, we can expect a lot from Bitcoin in the upcoming bull run.

Provably it is but don't think about that we could only get a opportunity to buy when bitcoin price experiencing a price dip. For other think about on when to start then I guess this is the perfect opportunity to start knowing that market is experiencing a slight correction.

That's why the title of this thread says buy the dip and hodl so they could able to execute their potential plans for starting up their journey and can further perform their plans towards what strategy they would use if either they want to do lumpsup or DCA method. But people should not worry about the length when they are starting to accumulate since they should look forward to have more bitcoins according to the budget they intend to spend since this is long journey to take and hopefully they learn a lot of valuable lesson on this thread. Since there's a lot of learning experience of other people which they can apply to make their hodl plan to became more successful.

Yes this the time we should use the opportunity we have to buy as many Bitcoin we can get because the price is still dip so if we fail to buy now we may not have the opportunity again to buy at this level, although we can still use the method of DCA strategy but for Lump sum I believe this is the right moment because nobody knows the length at which Bitcoin price could go any moment from this period.

Emphatically newbies are expected to follow this path as you advised boss but what if the market takes a longer time to dip that's to say that such newbie will wait until it dips, I think the best time anyone should invest is yesterday and now, Bitcoin is an investment that operates without nobody knowing the exact future price, so if we can't actually predict Bitcoin, am of the opinion that be it newbie or old investor should invest when the are mentally and financially ready because funds is no ones friend, you may decide to invest tommorow no matter how decipline you are once emwegency comes the money will be tampered and you will start afresh to plan, as we all know already, money and basic kniwledge is what we need to invest in Bitcoin, once this aforementioned are ready, there wouldnt be need to wait further.

the only way it could be possible to increase your level of discretionary is having a higher paying job to be able to increase your investment strategy just as I assumed earlier.
yea they might not be disadvantaged by there poor investment in bitcoin but that is a very low strategy of investment. investing $10 per month can be as less as No coiner. but surely it depends on a persons ability to invest base on his discretion or floats  and I can't call it a poor or wrong approach since he is surely not overdoing it. but people should know that as time goes on, so do bitcoin increase in value and a point will come when the fraction you  buy will be some numbers of SATs which may amount to nothing and may not increase in value as though. because your level of bitcoin growth depends on the level of bitcoin in your possession which you where fortunate to have afforded in a low price. for example a person that Bought 1 bitcoin at $10k per each around 2019, and a person that Baugh same bitcoin in 2024 at 1 bitcoin $60k you will see that as of today, the earliest buyer who bought at $10k is advantaged of about $50k profit, while a new investor who baught 1 bitcoin at $60k now will have to wait for long to be able to make a profit of X5 or X10as compeard to the earlier investor. so increasing our Level of accumulation help us  to be advantageous. though I know that buying earlier does not guarantee anything because you@JJG once said that even if we buy earlier, the price of bitcoin may fall and new investors maybe advantaged to buy more. but that doesn't mean we can't take advantage of buying more now. because some opportunities may never be goten after they have surely pass that stage.  I know we all are investing in what we can afford to lose or Investing in a way we are surely not overdoing it. but I think there is a need to take advantage of bitcoin dip in price by increasing our level of accumulation, to be able to make more profit in the future.

surly lump sum is the best way to invest for such person who doesn't figure out a way of investing regularly due to lack of inregular fund to be able to maintain his DCA strategy or monthly $10 as you guest. if he can invest lump sum once in a month with a tangible amount and also have a little discretion fund to support his investment, it will be better.

Nobody knows it all when it comes to bitcoin investment. And there is no point where someone will say this is the level you will get to be sure that you have known everything about bitcoin. Bitcoin is not like a college degree that you will need to spend couple of years to be certified as someone who knows bitcoin. What am saying in essence is that, you only need basic knowledge such as knowing how to set up your non custodial wallet, how to step up your centralized exchange account were you can buy from, or how to buy from a decentralized exchange (Dex). And effectively move your bitcoin to your wallet after purchase. These are not rocket science and any who can read and write can and write can figure these things out within few days. As a newbie I think that's all it takes to invest in bitcoin and also knowing that you are not to keep your bitcoin in a centralized exchange. If there other things which you want to know, you will get the opportunity to know them down the line as you get older down the investment line. As someone who is new to bitcoin investment, you don't need to learn about the technical aspects of bitcoin before making your first investment, so if these are what you are saying you want to learn first before investing, then you are getting it wrong. You can still learn them with time, but it is not a criteria to invest in bitcoin. Once you have gotten the basic knowledge I listed above, you are good to make your first investment.

One of the best way to go about it is to get the fucking started and learn more on your way up, getting as much as the basics knowledge which includes the ones that is being shared here that even worth recommending to any one to start up  Bitcoin investment,  one of the beauty of the dca strategy is that it gives an unexperienced person the privilege of being in the market and gain experience while already in the market, the dca has so much potentials the reason why It dominates the thread, it allows you to make purchases of Bitcoin with as little as comfortable with you can be by buy buying in fractions either weekly or monthly as your financial strength may permits you. Bitcoin is growing asset and learning about it will definitely becomes unlimited such that the learning process is a continues process and new things can as well be introduce in the market there were not there before, just like the ordnance, the ETFs approval and who knows what might come the next and Bitcoin can also be giving birth to new histories, waiting too long trying to learning first can be retarding and can lead to procrastination ever buying Bitcoin . The following factors are very basics considering for any one venturing in to Bitcoin investment as you learn more on your way up.

         1. Source of income

         2. Method of buying (lump sum or dca)

         3 investment goals and objectives

        4 provisional emergency funds

With the listed factors above one can start investing and figure out other things while already in the market.

Yes sir, now I am starting to understand why waiting to invest in Bitcoin was not the right thing to do. Because I just realized that the mistake of waiting or delaying investing in Bitcoin until the price goes down is not very good. Because it could be that the price of bitcoin continues to rise and I won't have the opportunity to buy it. Maybe from now on I will start buying bitcoin with the DCA strategy only. Because all this time I was still fixated on the decline in Bitcoin prices when I wanted to buy it. And after thinking more deeply, your opinion about learning Bitcoin while investing, is very correct. Because the knowledge gained can be directly applied to investment. In essence, my thoughts and perspective are very enlightened here.

Those quite some good notable points.
For those individuals who are struggling to make ends meet or living paycheck to paycheck, determining their how much they can actually afford to spare for accumulating Bitcoin can be pretty challenging. Their major priority should be centered on how how to cover some essential expenses, how to build a strong emergency fund  and reserves, strive to first gain financial stability before considering investing in bitcoin. This is a reality that shouldn't be overlooked or bypassed because by acknowledging this important aspect of investment, individuals can have a solid foundation for their financial future as well as their investment.
Because without first creating a solid financial foundation, one can never have a solid investment.

The idea of buying over longer periods of time or coming up with a system to buy smaller units of Bitcoin regularly (daily or weekly) could be quite an effective approach because it can really come in handy for individuals who actually have limited financial flexibility, because it'll enable them to maintain consistency in their buys while simultaneously maintaining their financial stability.

There are important factors that shouldn't be overlooked or bypassed before jumping into investment, because those factors are the very ones that determines how solid your investment can be and how long it'll last and of course how profitable it'll be, factors like cash flow and having a financial solid foundation to cover for future and subsequent expenses and emergencies plays very important roles and should always be put into consideration before jumping into any investment, well except you don't plan to be in that investment for quite a long time and just there for the short-term. But if the goal is to be there for the longer term, then these factors are indeed too essential to be neglected.

Your advice to prioritize financial stability as well as security over investment is indeed a very wise approach because without those things in check, there can never be an investment to start with.
Your insightful approaches to Bitcoin investment and financial planning has been most valuable and helpful to this community and those seeking guidance, we appreciate your efforts.

Considering the person's financial situation, I'd strongly advice that he prioritized building a more solid and robust emergency fund and reserve and also try cutting down some expenses before considering going to bitcoin investment.

That's quite a significant income variability, making it very crucial to build a more solid emergency fund that can cover at least 3 to 6 months of his living expenses, 3 to 6 montha i believe ahould be solid enough for him to consider buying and accumulation. Because the having just $1000 in his emergency fund and float around $600 when his high expenses is around $900 which is almost close to his average income, considering investment at this point would leave very little room for discretionary spending or investment. So the best approach at this point would be to focus more and prioritize building a more solid financial foundation.

Both opinions cannot be correct.  You either buy or you wait, and from my perspective, the ONLY way to prepare for UP is by buying bitcoin.  You do not prepare for UP by waiting.  Waiting is not a strategy that prepares you for up.

Maybe I should give an example?

Hypothetical poor person just found out about bitcoin, and he has an income of about $500 to $1,800 per month, with usual income of about $1k.  His expenses are usually between $700 and $1,200, but most of the time $900.  He has an emergency fund that is about $1k, a reserve fund and float that is around $600.  Right now, with these circumstances, what should he do?  Start buying BTC or wait for a dip that might or might not happen.

He cannot do both.  He has to choose which one is going to.  Right?


Why not learn about bitcoin as you go (like promise444c5 mentioned), and start out with $10 per week - or some other relatively low amount to get started and then figure out other details as you go.. what is the part that you need to learn about that is so important.  No one is saying to invest everything that a person has, whether we are talking about the hypothetical person above that I outlined or if you would like to present some other hypothetical person with circumstances that might justify a "waiting" rather than a getting started right away strategy. 

By the way, I had already mentioned that a variety of things could affect a tweaking of the BTC buying strategy, so I would imagine that a person who is actively involved in buying bitcoin weekly would be striving to spend at least a bit of time to get more in touch with his various finances and psychology (perhaps in line with the 9 factors), and perhaps the organizing of his finances is already going to put him in a much more solid situation and whatever the bitcoin does would be icing on the cake, especially if the timeline for investing might be 4-10 years or longer.

Learning bitcoin before investing  isn't  a bad choice but why wait and miss the opportunities  that could eventually arrive while learning...
What's  your purpose of learning  isn't  it not to invest??? Why not investing  with a good strategy like DCAing into your investment  weekly and when you're  done learning  to some extent  you could adopt other strategies  and by then you will be having  a lot stashed up already rather than wasting  time before investing  ....

Buying bitcoin when the price is cheap or experiencing a decline (DIP) is indeed a better purchase if the opportunity arises. But as @JJG said, a beginner who is about to start investing in bitcoin, does not need to wait for the price to fall to make a purchase. I really agree with both opinions, because the opinion expressed by @Fury leads to deeper caution and wanting to get maximum profit from his bitcoin investment. However, the opinion expressed by @JJG is similar to the DCA principle, because when buying bitcoin, you don't really care whether the price goes up or down, and this concept is very good for long-term investors. So basically these two opinions are very correct if you want to apply them when investing in Bitcoin (essentially it depends on the person).

However, regarding starting to invest in Bitcoin first or learning about it first, I still prefer to learn about it first. Because in my opinion, when Bitcoin investment only uses greed or reckless capital, sooner or later things about Bitcoin will be learned too. But the bad side is that sometimes learning will come when failure or mistakes occur. This is different from learning Bitcoin before, even though learning it takes longer, when you start investing it will definitely feel smoother. So I personally prefer to learn first, rather than jumping straight in.

Maybe I was off but since I was actually insinuating on the financial status(poor) then I guess I was a little bit on point
I like the point of buying every week but  since fingers are not equal, each investors has it own expenses although  it could be reduce to archieve the goal of buying every week. Nevertheless, the inflows still matters (either salary or wages) so if the weekly cannot be achived doubling it should be pretty much easier to cope with.
And as time goes on adjustment  could be made if there's need to shift towards the one week then it should be done... Also switches, could be made but not  a good one as it could  be use as excuse sometimes 

That is not even the same topic, since one question is getting started right away in terms of investing into bitcoin, and then another part would be whether adjustments might be chosen to be taken in regards to buying bitcoin somewhere down the line based on the size of the BTC stash that had been accumulated over the passage of time.

Now, you seem to be changing to some other topic that relates to adjustments to the purchasing times of bitcoin being made based on cashflows and budgeting kinds of considerations like that, which seems to be a different topic from what I had been attempting to describe in terms of getting in, getting started and then reassessing down the road.

Maybe along that same line of the initial considerations, there can be a status of poorness in which someone might be having difficulties figuring out how much discretionary income that he has in order to invest into bitcoin in the first place, so he might want to make sure that he gets through the whole month before buying bitcoin with whatever is extra at the end of the period (so then his new paycheck comes in and he buys bitcoin with whatever was left from the earlier check), but at the same time, if the guy is getting into bitcoin, then it might be more likely that he would also need to figure out his cashflows and his expenses, so even if he might have more difficulties in regards to figuring out his discretionary income levels in the first month or two, he might be able to put systems into place in which he is able to buy every week, even if he gets paid monthly, but he might have to makes sure that he builds up enough of a reserve (and emergency fund) while he is potentially becoming more regular with his BTC buys the might end up being every week.. but yeah, if he is not sure about his cashflows, the solution might be to spread out his buys over longer periods.. yet I tend to be a pretty BIG fan of attempting to get yourself into a situation where you are able to buy bitcoin every week, but yeah, you cannot employ those kinds of practices if you are not even sure if whatever money you have is going to get you through the month (or until your next paycheck)..

Yh there is a correction,which provides opportunity for all not newbie or poor people. You just have to be cautious as you sound more or less gambling and hoping for price movement.

If you read the thread you will understand how to go about investing in Bitcoin not some random believe that will aid you on your journey to invest and view long term which is the best approach.

IMO, if  an investor  choses a buying  strategy  for his stash and cannot or couldn't  eventually  meet up with the buying due to his financial status then a little gap could be added  in the time-interval he uses for buying  for example
If it was initially a week it could be set to two weeks , if two weeks  a month could be chosen.
I will suggest a max- of one month interval
While this is done learning could also be taken along with it
The large corrections was just from the fact that there  was FOMO towards the halving  event and since their expectations wasn't met they went selling which brought us a correction in the market and the correction besides majority of them  are just short term-investors

We saw a large correction and yes now is a great time to Buy more Bitcoin. For newbies and poor people this is a perfect time to work for BTC income. When we get back above the all-time highs you will have a great bonus in your new wealth.

I guess I am trying to say get started and learn along the way, and maybe after accumulating BTC for a year or two, there might be some justification to start to adjust the strategy based on how much BTC you have been able to accumulate and based on your other financial matters, and so in some sense, it can be difficult to come straight into an investment (something like BTC) and not take a bit of time to establish a position, and since Wind_FURY was referring to poor people, so for poor people in particular there might not even need to be too many adjustments along the way, just keep buying as aggressively as you are able to without overdoing it... but the thing, even for poor people, there might be some recognition that after a year or two of accumulating BTC, the BTC stash might be starting to get relatively large as compared to other investments (or savings) that might have had previously been done.. .. yet also it could be that the amount put in is still less than the value of the stash, so there could be some variations in regards to how to consider and look at the stash depending on how much had been put in and the extent to which the stash may or may not be in profits... although some folks might get distracted by merely being in profits, so some learning might need to happen in regards to how large of a stash might be considered to be a large enough size in order to start to consider some possibilities of changing strategies that go beyond just continued, ongoing persistent and consistent buying of BTC (perhaps weekly).

Yes exactly there's no need to wait for Dip to buy and a good example of a strategy that waits for ne need no DIP and still gives chance of buying the dips is the DCA strategy all needed is a steady inflow to sustain  accumulation, learning could be done along to bring In more strategies as time goes on and an investor begins to understand more on how he could grow this invest  more and more.
To me I see no need to any other  for the first one to two  years  just you initial accumulating strategy is enough , within this period alot of learning process would have taken place within to make decisions all by yourself