Topic: Buy the DIP, and HODL! - page 282. (Read 123809 times)

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.

The Rapid growth of bitcoin is exciting for investors. Bitcoin will definitely break it previous ATH the certainty is very clear. That's why is encouraging and advisable for those with investment in bitcoin to keep HODling their bitcoin no need to rush and sell, the growth peak will continue and not yet halving which will impact and drive up bitcoin value. Surely those that invested early stand the chance to gain more than new investors as long as they keep HODling. Bitcoin surge is inevitable what we are seeing is just a tip of an iceberg.

Considering the fact that there is no best time of entering the market in as much as it is also great buying when the price was lower, the price we are seeing today can be seen as a dip tomorrow,  it is still very much ok entering the market now if the plan is to hodl and making use of dca and buy at different price point, and also by firstly taken care of your personal needs and Identifying the level of how much discretional/ disposable income to build up your emergency, reserve and float funds. However those that accumulated enough earlier will become more profitable than those investing now

Funny enough the halving hasn't happened yet we are seeing what bitcoin is doing. This is just a tip in the iceberg. As liquidity keeps flowing in to the market we will see bitcoin performing wonders. This is really the time that holders faith are tempted, especially those that has plans for holding longer. They will see little profit and will be tempted to cash in, but let's keep faith. Also we should get careful with our bitcoin storage, because this time around that there is enough hype in bitcoin, there will be so many scammers out there looking for the slightest mistake to strike. Let's not connect our wallets to any website that promise anything free bitcoin.

Bitcoin will definitely break it's previous ATH and set a new ATH. I didn't even expect this kind of rapid growth so soon despite I know it will grow so high. This is one of the reason for this thread, To always invest and HODL onto Bitcoin, I know those that didn't call it anything will be feeling the heat of regret because they had the opportunity to buy and HODl when it was when it was dip. Not necessarily mean that dip implies they must buy on dip but just taking an advantage of buying when the price was lesser in value compared to current value now. Because you wouldn't compear someone that baught through DCA or DIP and HODL at the early part of this year or late part of last year to people who started investing some week ago, surely previous investors will be more advantageous over the new investors. So btc is on fire now and everyone wants to have a taste of the cake not knowing that having a taste of btc cake is mow when it so only going up but investing on regular is the key by DCA. As btc price is increasing, let keep HODling.

Currently the price of Bitcoin is $68,478, and only 1.5k is needed, so Bitcoin has broken its previous ATH. Last night I saw bitcoin worth 66k, and woke up this morning to find bitcoin worth over 68k. This Bitcoin bull market is very strong. Bitcoin price is increasing at its highest speed in this bull market. If this continues I think Bitcoin will break the ATH in a while.

You may be saying something similar as me, and largely if a person has a handle on what is his discretionary/disposable income, then there should be no reason to spend beyond that and use money that is actually needed for expenses and/or desires.  

So it might be tough to be aggressive (and even extremely aggressive) without ending up using money that you actually need which is another way of describing gambling because if you need the money - even if it is further down the road, and you don't have a replacement for it, then you are likely gambling rather than investing and you are less able to withstand the volatility, especially when the volatility might run considerably against you.

Another thing.  I am not even against someone maxing out their discretionary income for investing into bitcoin as long that they have emergency funds, reserves and a float, but surely there could be times when people might not recognize the difference between money they have and money that might be part of a float that it actually going to end up being needed for an expenses that is not quite known, so then when the expense comes in, then it is higher than expected, even though it should have had been expected, but if a guy has several back up sources of funds, he can make up for some of the mistakes that he might make in terms of becoming overly aggressive, but sometimes several things will happen at once, and so in that regard, many times it would be safer to maintain a bit larger of emergency funds, reserves and float in order to be able to adapt to such mistakes without losing your investment.  

Another thing could be that a person has a friend who he knows will give him work if he needs the work, but he does not want to do that work; however, if he has some mistakes that he makes, then the extra  work could be part of his emergency fund.. even though it might only be a part of it, and not serving as his whole emergency fund/backup plan.

But sometimes if guys over do it, and then they get themselves into a pickle and they might not have a choice - because they failed to adequately plan - which planning does not even need to take place in advance, but can happen along side of investing into bitcoin, as long as matters are being accounted, and preparations for prices to go in any direction as well as various aspects of cashflow to potentially have variabilities that are not always known in advance.


We do not just consider our transaction fees at this time, but we try to prepare ourselves for the future, and that is part of the reason that I suggest larger UTXOs.. but you can do whatever you like.. if you have a bunch of $10 to $100 UTXOs, you may well end up regretting that in the future if you are not able to consolidate them for a reasonable fee or if they end up getting stuck because they are not economical to spend.. so sometimes there can be reasons to allow the CEX funds to build to a larger size, and if you choose to have lower sized UTXOs you also should consider that there is a certain amount of preventable risk (and cost) in that too... and some times we might be forced to do some things that we don't like also, so that is understandable, and one of the dilemmas in terms of dealing with smaller transaction sizes in bitcoin.


You surely would have to reassess from time to time.

So if you plan to invest for at least 10 years in bitcoin and then you consider that you might be able to invest 1-2 years salary into bitcoin during the next 10 years, but you are also expecting some possible bitcoin price appreciation, so you might have some ball park ideas about where you expect to go, and then when you get further down the line, you can try to reassess if you are where you expected to be, and maybe even some of your goals might end up changing, or you have some other factors that you need to take into account. 

So even though you are probably looking at your investment as it goes and maybe you are doing deeper analysis once or twice a year, and then maybe you are expecting that you have to get over certain boundaries before you might convert away from accumulation and in to maintenance, or maybe you will start to rake some of you profits at some point based on your reassessments and your projection of how it might play out.

yeah agree with you. Looking at the price now can be tempting to those , that haven't accumulated enough of quantity of bitcoin or should I say that haven't meet their accumulation goal like myself. While those that are in for short-term investments to gain quick profit am not pretty sure if buying now might be good for you so that you won't endup buying the top or gamble with your funds, while those that are for long holding can still keep on their DCAing without any panic even though there's dip. According to the subject of the thread we buy the DIP and HODL. And we here to guide each other in our journey of accumulating bitcoin.

really like your drive but hope you putting such in your accumulation, (though seems like someone that won't let any opportunity pass em by which epic.) Concerning that 10 yrs, don't really have to be 10 yrs before one can start scraping some profit from his investment having the mindset to replace it back depending, but if one was able to hit his target around 5yrs he or she can decide to scrape some profit from their investment. Depending on how aggressive he or she was with his investment in bitcoin.

This should be a method for those that have accumulated to a point that is satisfactory for them. A point where you might as well use as your target and have probably exceeded it and still accumulating to get more bitcoin in your portfolio. Taking partial profit because your investment as rose above your initial capital will only affect your plan of reaching the target on time. And if you’re engaging in such, you’ve already broke the rule of DCAing and won’t achieve your target as soon as possible. You have now deviated from investing but now gambling with your investment which will not go well for you especially if you’re a newbie that have no idea on trading


What I feel is the better solution to this uncertainty and unforeseen circumstances that leads to such panic in your investment in bitcoin is knowledge. When you don’t seek for more knowledge about what you’re investing in after you’ve even done the investment can serve  as a risk to your investment. The inability to understand the structure on which your investment is built on will definitely lead to panic and will cause you to fear into selling off your assets in bitcoin so that you don’t lose out on your investment all. For a knowledgeable person in bitcoin that has knowledge on bitcoin can tell that the restrictions on Nigerian users on binance is just to halt the p2p activities but every other thing is working fine. And as a long-term investor in bitcoin, you don’t need to panic because at least you won’t see the option of selling your coins but can only save and transfer between your CEX and DEX wallet for better security.

You just have to tell yourself that this bullrun is not for me, provided you haven't finished your accumulation stage. You are looking at a long term plan here, and this is not going to be the last bullrun we will every see. Remove your thoughts from the market, your only focus should be your buying. You only visit the market when you want to add to your bad, when it's that time of the week you usually buy your $40 worth of bitcoin. You can't compare yourself with someone who has been accumulating for the past 5 to 10 years or more. Many started their accumulating journey accumulating last bitcoin season and now their investment is ripe. So if your accumulation journey is 10 years time, remove your thoughts from any hype in the bitcoin market presently. It is evident enough that each bitcoin season is always better than the previous one, so what is ahead for bitcoin is bigger than what we are seeing today. This should be your conviction to continue your accumulation journey and never be distracted.

This is where most people has failed in their bitcoin investment. Due to greed (norms we humans are emotional beings) but still we should learn how to manage those emotions so that it won't overwhelm us . Most people go all in without no proper planning thinking of even having a good emergency funds to cover some future expenses , inorder to have huge ROI. Which would increase the chances of them running to their investment at the end for survival. Is good to in huge amount of money in bitcoin and also back it up with some nice DCA inorder for you to meet your accumulation goal pretty fast, knowing that you financially capable. But if you know you are managing with your funds same time investing, there's no need for you going all in at ones, there's a reason why DCA strategies is there for you, it would help to accumulate large quantity of bitcoin in a long run and also give you the chances to buy at any price movements reducing the risk .
you're right and it won't be safe holding your asset for long in an cex account, Ruttoshi if kucoin is actually 10% of the amount of coin you want to transfer is taken as fee. I think such exchange would be good for those that are new in bitcoin accumulation with the use of DCA . If a user whose DCA amount is as low as $10 , want to transfer their bitcoin that they purchased from their cex account to their private account the fee would be 10% of $10 right. And 10% of $10 would be 1. Which means they would pay fee of $1 to transfer $10 and they would end up with $9 in their portfolio if am not mistaken. So such fee won't put that much impact in affecting their DCAing which would lead to them not holding their asset in cex account For that long..🤷

It seems that if you have ONLY bought $40 of BTC since you started then you are far away from getting to a stage of reaching a point that you can start selling any BTC.  Yet of course, that is your choice.

In the end, it is probably better to think in terms of what are your current income and your expenses in order to figure out how many months (or years) worth of expenses/income do you want to have in your holdings before you might start to consider the employment of various raking strategies... and like I said, from my own point of view the raking strategies are not necessarily intended for the purpose of buying back lower, but surely you could end up in that position once you start to employ such raking strategies... but the main thing is to reach a level of sufficient accumulation and/or even over accumulation in such a way that the raking strategies make sense.  it is up to you to figure out if the raking strategies make sense.

I personally did not even consider the $1k invested (reaching a size of 0.04 BTC to be practical, and it really seemed short-sighted to me to be considering selling half of it merely based on the BTC price doubling.  So that was part of the motivation for plugging those numbers into the raking formula. ... so largely the formula that I was using was to authorize selling 10% every time the price doubled, and again that ONLY makes sense to start to employ that strategy after you have reached a high enough level, and if you have already decided that you have more than a 10-year timeline, then you would be buying right now rather than selling.  and if you have ONLY bought $40 since August, it is not easy to consider that you are taking serious the idea of buying BTC, especially if you are talking about selling rather than buying.


Well that is too bad if people might have some of their money (BTC) locked up.  Sometimes poor people might take a while before they build up enough of an investment in BTC before it make sense for them to withdraw, and especially in recent times, I have been frequently suggesting to get up to $500 or $1k worth of BTC, which might be 1 million to 3 million satoshis before withdrawing to a private wallet.. based on transaction fees....

but some people might take many months of their savings and even years before they get up to $500 to $1k worth of BTC built up, and I suppose some exchanges are more risky than others, too...so we are not always going to know how much balance to keep on exchanges prior to withdrawing to private wallet, but it makes little sense to me to have a bunch of $10 to $100 transactions that might have their periods of difficulty to have those kinds of relatively small UTXOs.


Fair enough about knowing the basics, but I would describe the basics as having your financial (and perhaps psychological) house in order sufficiently enough to know how much discretionary/disposable income that you have, and so those are kinds of basic financial management, and you can get started in bitcoin by just knowing if you have extra money that you are able to invest, and the more that you invest into bitcoin, the more that you are going to make sure that you are spending within your discretionary income and not money that you need for expenses.  So then if you project your income versus expenses out into the future, you would likely realize that there may well be some potential short-falls and/or uncertainties, so in that regard you have to figure out ways to have cushions in your finances such as emergency funds, reserve funds and floats to make sure that you don't run out of money or need to sell any of your investment (into BTC) at a time that is other than your own complete choosing. 

These kinds of matters can be sorted out as you go and as you invest into BTC, yet you would not want to be overly aggressive with your investment into BTC until you have solid grounds in terms of your personal financial management, but you can get started within basic ideas about whether or not you have some extra discretionary income to get started and then work out the details regarding how to continue to invest as you make sure that your finances and psychology is in order, which could take a bit of time, if you had not previously been an investor.


For sure, I was attempting to show a more modest version of selling on the way up, rather than selling 50% after a doubling, but yeah, it does not make a lot of sense to me either to be selling based on a mere accumulation of $1k worth of BTC that was 0.04 BTC, and with ONLY a short amount of time in BTC.

I know that it is not advisable to keep your bitcoin in an exchange, but I don't see how an investor from Nigeria who has his bitcoin currently in an exchange, because he is buying with little amount for as low as $50-$100 a week so that it can be saved till it gets up to $500 and above before sending it to your private wallet, so that in future, when transaction fee is high it will not affect your output, will be affected by Naira being removed from Binance and no more p2p for Nigerians.

The reason why I said that it is not a problem is because, you are not selling but you are piling it up, and Binance did not restrict anyone from Nigeria from transferring their coins to other wallet. So the person that has his coins in Binance will simply transfer his coins to his self custody wallet, without a problem. You cannot make use of p2p in Binance does not mean that if you are having your bitcoin there, it is stuck. However, the investor from Nigeria can still use other exchanges like Kucoin, and OKX to buy bitcoin because the law on Binance did not affect them. I bought bitcoin recently from Kucoin, is just that their transaction fee for transfer is 10% of the amount that you want to transfer.
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Your explanation sounds correct, Ruttoshi... sometimes options close, but that would not necessarily mean that the Binance users in Nigeria had been rug pulled, even if one of their on/off ramps might have been closed.. but surely sometimes one thing happens that leads to another thing, and sometimes we might need to recognize signs of our coins potentially being more at risk when there are greater levels of hostility that might take place within any particular jurisdiction.  People can sometimes get nervous and panic because they might not know which options are available to them.

Firstly, I cannot advice anyone to take his/her profit at an early stage when investing, making bitcoin investment sound as gambling and it can be misleading for newbies, you will feel like you're smart enough taking profit but if lacking the strategy to balance back then it'll be difficult to handle. I will go with the idea of buying until he/ she has reached a balanced level. Secondly this strategy is not so perfect for investors who just started and still acquiring the knowledge about bitcoin, knowing fully well bitcoin knowledge is broad and no one can actually learn everything within a week likewise this strategy, most investors who practice such strategy are experienced investors so I will not stick with the idea of taking profit when still accumulating.