Topic: Buy the DIP, and HODL! - page 29. (Read 107187 times)

I believe not. If Bitcoin does surge to over a seven digit valuation, then each additional unit of Bitcoin that a user purchased at discounts would truly matter.


?

But why not 30 Bitcoins with an average price of $600.00, which is the actual point of the argument for looking for discounts? I believe that would definitely give more superior returns than if the average purchasing price is $2000, no?

It is indeed appropriate to do something like that because when more and more people are aware of building their own steps by buying Bitcoin and accumulating their portfolio from now on, of course in the future there will be more people who will do something like this in Bitcoin. Because people who continue to build their portfolio with Bitcoin and also no longer remember the past mistakes they have made, of course their own focus will also be more optimal so that there will never be a feeling of boredom in buying Bitcoin every week with the abilities they have.

Is actually very important for you to note that multiple investment at once when you are not financially balanced does not grow your portfolio but instead it will push you on the edge were you could be struggling on your investment and secondly I don't know how you were able to gather the theory that we should follow the Bitcoin market regularly, however if I may ask, of what benefits will it be for you if you are closely following the Bitcoin market?, actually you should know that watching the Bitcoin market dose not bring anything  positive on your Bitcoin investment but instead it can affect you in a way you will not expect, perhaps you have another motive of saying that but the little I understand about it is that there is no need in following the market.

In other words, it might not make too much difference if you bought bitcoin around $50k, $60k or $70k or maybe even $100k.. it is all going to seem cheap..

Just like today if I say that I bought at $500, $600, $700 or $1k, it all seems low.. and any of those prices work out quite well,  even though twice as many bitcoin could have had been bought at $500 as compared with $1k.. but there is ONLY so much that any of us can do in regards to our cashflow, and in the whole scheme of things we  cannot really know where the BTC price is going to go.. so in some sense, the just keep buying practices end up working themselves out in the long run, even though sometimes in the short run, we might question our strategies, yet there are a lot of folks who ended up accumulating way more bitcoin (even though they paid more for them),

so then in the end, the having of more bitcoin ended up being the main thing that makes a difference.. since would you rather have:

1) 5 bitcoin with an average price of $600  (total cost of $3,000) (maybe someone who made a few BTC purchases between 2014 and 2016 and was always proud of having a low cost per BTC),

or


2) 30 bitcoin with an average cost of $2k (total cost of $60k) (maybe someone with a fairly tight budget who started DCA buying bitcoin in 2014 with $10-$50 weekly, and continuing to buy bitcoin with DCA and over the years.. so investing with DCA over 10 years and having times of increasing to $100 to $200 weekly as his income went up and his cashflow management abilities got better).. so he got way more bitcoin for each dollar in the earliest of his BTC accumulating days.. but since his budget was never really that great - especially, in the earlier days, he had to always scramble to buy as many Bitcoin as he could afford within his discretionary income, and he continued to accumulate BTC during each week no matter the BTC price depending on his own cashflow that improved over the years but was never really great... and then now he is starting to feel that he has enough BTC ). ..

Frequently, in bitcoin's history, the consistent, persistent and ongoing accumulator of bitcoin ends up spending quite a bit more money (fiat) to buy his bitcoin and might even have multiple or magnitudes more costs  than the whimpy investor, but then in the end, the persistent BTC accumulator ends up with way more bitcoin, too... even though sometimes along the way, it might have hurt financially and psychologically.. and even he spent a decent amount of time in the negative or not really in profits and even worrying about if some kind of a BTC price bounce was going to come at some point.. or if maybe he was sometimes thinking that had put too much in the bitcoin.. .. but then in the above example.. there is some kind of reality that sometimes there might be a need to spend 20x more than another similarly situated person in order to really show commitment to investing into bitcoin, but then end up having way more options because of the persistence int he stacking of the sats (of course, there are needs to preserve the bitcoin holdings too and to learn about good ways to guard your bitcoin holdings in order to not lose them).


A newbie investor is lucky if he has a lump sum available to him so that he can decide what to do.

Let's say that the newbie has right around $6.8k that he can invest right now, and he knows that he has right around $100 per week that he can invest into the future.. such as the next 12 months... so that is a total of $12,000 for the year... with $6.8k available right away.

It is good to have the option to figure out how to invest that money, even though not all of it is available right away.

If the guy ONLY has the income and he does not have the extra $6.8k lump sum, then he has fewer options, and DCA seems to be amongst the best of choices.

Extra options can come at anytime during the year, and there are some people who know that they end up getting extra cashflows during the year, such as bonuses, and so if there are systems in place already about buying bitcoin, then there can be a fairly easier decision to invest the extra money when it comes in rather than not having a plan and perhaps just using the extra money for consumption... Having the option, and understanding the various ways to categorize money for BTC investing into DCA, buying on dips and/or lump sum also gives options as well as knowing about various ways to have back up funds for emergency funds, reserves and float.. Any new money (especially if it is discretionary - which means after expenses have been accounted for) can be plugged into any of those categories.

Lump sum method of investment is good but I feel its too wild for a beginner especially the one that hasn't really understood the market that well and the reason why I say this is because that new investor can easily be affected whenever he sees the price dip and especially when he used large sum of money to buy because he will be scared of the funds dropping so my advice for any new investor should be DCA method so atleast you will just have to do with continuity and with time get to understand although both methods are still effective but I guess it depends on the investor himself to fully understand how the Bitcoin market works.

And again you thinking about other people investment shows that you clearly need to do some study about investment on a general note, before ever starting an investment your own goal is what you should focus on and for Bitcoin investment what you need to do is just learn the basics and ofcourse have the general patience that Bitcoin investment won't make you rich overnight as it's a gradual process and patience and commitment is the key.

hahahah its really quit funny, the elephant talk got me laughing. though it's quit funny how something is obvious and nobody talks about it, as the elephant in the room story entails. but in this context we can say there are times people thinks that their narrative is quit different from other people's approach yet they all end up being confused, and the sake of this confusion is what led to buying weekly DCA, buying the dip + lump sum, to solve some emotional and confusion problem, yet they chose the hardway.  surely there are time people expect bitcoin to dip for them to accumulate more but that doesn't mean they will not continue with other approaches. bitcoin is volatile so it's better sometimes people just follow the right approach than figuring out a personal strategy that end up keeping such person in a confused manner because bitcoin might not continue to dip to a person favour, it's such an unrealistic expectancy.

Yeah it's totally a waste of time trying to figure out what shouldn't have been though of at the first place. yea it better to use that time to figure out what to do, probably being productive in some kind of ways, like acquiring more skill that one can be financially productive to increase our portfolio and shortens our time duration of investment , maybe an investing that would have lasted for 20years to accumulate 3 btc may have been reduced to 10 -15years with same 3btc so time is too important to be wrongly used.

 

One don't really need to be checking bitcoin market constantly, is like a waste of time especially as an longer-term investor. Instead one should focus on how to build is bitcoin stash in the best possible way he or she can . Because only those who are in for short-term profit are normally bothered about market price, we as an long-term investor is how to meet our accumulation goal and hold.


That's right , with DCAing and consistency one will be able to build a nice bitcoin Stashes for he or herself. And having good amount of money as already serve as an big advantages when it comes to Bitcoin accumulation . It will literally help to speed things up , but still those who are average can still grow their portfolio with consistency in their accumulation.


  that's damn right, even folks that should theirs 3 years ago, are already sick in their stomach now because of bitcoin recent surge that took place 2023 . So same thing going to happen as time goes on and alot of people we keep regretting especially those that should theirs too early, and those that missout due to the habit of procastinating. So in order not to be among such is better to start now and start taken action, by accumulating more bitcoin now

Bitcoin is above $60,000 again. Many of us almost got very excited for the possible opportunity to purchase Bitcoin below $50,000 again. Haha.

But sometimes we probably should start thinking that in 10 or 20 years, many people will look at the price of Bitcoin and they will be very sick in their stomachs because they will be asking themselves how they have missed all the price appreciation of an asset that was designed to surge because the Central Banks around the world have that never-ending policy to print money.

You should follow the Bitcoin market constantly, because if you are not constantly reflecting on the market, you will not be able to focus on investing properly. Especially when investing in DCA method, market research must be done, especially as regular investment will attract newcomers more. A new investor can participate in repeated investments to grow his portfolio only through the DCA strategy.

With this DCA strategy, both new and old investors can succeed in investing in Bitcoin by saving on the purchase price. A person who has a good amount of money to invest can surely grow his portfolio by investing in this Bitcoin.

As you think DCA investment strategy from your side is the most effective and correct investment strategy, so also from my side I think DCA investment strategy is the most effective investment strategy. Not just me but everyone who invests thinks the DCA investment strategy is an effective and a sound investment strategy in their own way. 

DCA investment strategy has made our investment approach much simpler. Those who have invested before and those who are investing now are themselves realizing the difference between investing in this strategy and the previous strategy. An investor can now start investing with a minimum amount of money but no one thought of doing this before. Previously, investors used to pool a certain amount of money and then invest it, but now instead of keeping a certain amount of money, investors invest that fixed amount continuously.

I got a complete understanding of this strategy through this section because I knew roughly about the DCA investment strategy earlier but got a detailed understanding of it in this section.

Of course, guys have to figure out what they are going to do within the three main methods, which is DCA, lump sum and buying on dips, and each of the techniques has its advantages and disadvantages depending on where a person might be in terms of how long he has been in bitcoin and what his goals might be.  Even in the very beginning a guy might start out with a lump sum amount that he could invest into bitcoin right away or he could separate the lump sum into the three buying categories of DCA, lump sum (buying right away) and buying on dip.  Some folks do not even have any lump sum amount they can start out with, and yet DCA can work very well for them to be able to buy bitcoin as their cash comes in and/or their expenses are calculated so they know how much extra they have which could result in their being able to buy BTC every single week., or however they structure their DCA purchase times  based on their own cashflow situation.

Sure a brand new person to bitcoin might not know whether he wants to be aggressive or whimpy in his investment style, and so if he makes sure that he is getting his finances in order int terms of back up funds, he can tailor the level of his aggressiveness in terms of his own finances and psychology.. which should include his consideration of his individual 9 factors.

By the way, DCA is meant to apply to something like bitcoin based on a level of confidence that any of us should be able to figure out that it will likely increase in price, even thought the price is likely to be volatile along the way, and I doubt that there is any shitcoin that can inspire such confidence, even though people do buy into shitcoins, yet more they are things to get in and out of rather than something to rely on in the long term, even though people also conclude them to be investments - and that is their choice, which seems kind of dumb and/or short sighted to allow any of the shitcoins to be more than 10% of your bitcoin holding, so hopefully you keep them to less than 10% if you cannot resist those kinds of temptations to gamble (and/or trade).

He should have a plan and asking about whether DCA is the best strategy for him to use as a beginner is surely the best for him. In order for him to have focus and consistency in something, he needs to have a strategy that’ll make him not regret his decision into investing in bitcoin. Both long and new investors in bitcoin have enjoyed the DCA strategy and should not sway away from it. The market is very controversial and the volatility nature of it can be disturbing for newbies. Sticking to the DCA strategy will be of help and they should work on their psychology and not be panicked when there’s a downturn in the market but use it more often to their advantage instead of leaving the market so soon due to panic of losing their funds.

You are a beginner in investment. You shouldn't worry about what others are doing. Do the best you can but the best way is to maintain consistency and dont focus on the market price at each point in time if not you would not be able to start your investment. There are several strategies for Bitcoin investment but DCA is one method that has been adopted by both new and old investors. With time you will know what strategy would best fit your risk tolerance, financial strength and accumulate goals. If you have enough funds you an choose to lump sum so that you have a good amount of Bitcoin in your portfolio.

The only strategy i have been against is people timing the market. When an investor do that they are more prone to miss out in opportunities they fully wait for. Every point is a good time to buy Bitcoin whether we are lump suming or dcaing.

Yeah I decided to be consistent in my Bitcoin accumulation journey and that is what I have been doing, I'm buying Bitcoin using the DCA strategy and I'm very much comfortable with it, I know using the DCA strategy I need to hold for a very long time in other to have enough Bitcoin.
This long holding and consistent accumulation has discouraged a lot of people who wanted to go into Bitcoin investment especially those who can't buy with huge amount at a time.
There's a saying that says patience and consistency are the real future wealth, those who waited for 10 years till date didn't lose anything, there patience and consistency paid off and for me my consistency and patience will also pay off, Bitcoin is one of the best investment and I'm taking it seriously and I believe I will succeed because I'm dedicated to it.

Apparently, Dollar Cost Averaging is the best strategy for me and you to invest in bitcoin, there are solid reason why DCA is currently the best for you. there is no way buying the dips would be the best for you at this point because you don't know for sure when there will be dips although at this moment we are still in the dips but why I say it's not best for you now is because you have to wait for some time which is not certain to buy but DCA gives you the opportunity to buy instant and not wait for any reason. Futhermore, buying the dips strategy always gives you a discount but the inconvenience in buying the dips matters too DCA gives you around opportunity which includes time to settle all other necessary things outside investment.

There are more reason I would prefer or reference you to DCA strategy but I would say less because you will find out the rest here as time goes on if you listen carefully to JayJuanGee's clarifications.

I don't know the thought of other investors here but for me the DCA strategy is the best because if you are custom using the DCA strategy you are at advantage because there are times when you can still use the lump sum strategy when you an unexpected money comes your way you can also accumulate when there is dip this one's may come ones a while but with the DCA strategy you can still accumulate more Bitcoin inrespective of the price level either weekly or monthly as long as your discretionary income is intact with a long term motive from 4-10 and above because with DCA strategy you are always steady in the BTC market.

Of course everyone has made mistakes but forget those times and rebuild your portfolio with bitcoin.

Build your confidence to accumulate with your level of ability.

Buying today is the best step to increase your bitcoin holdings in your portfolio and that was my first step in building a portfolio with Bitcoin.

Make regular purchases and focus on your targets. Accumulating weekly would be easier and I did that.
Also keep learning to increase your knowledge about Bitcoin.

I think you may have misunderstood me, I am in no way referring to Bitcoin as cryptocurrency, I used the term Cryptocurrency Market, that's different from refering to Bitcoin as Cryptocurrency. My intention is not to sound misleading but to state a point. I'm not a fan of shitcoins, yes I've been involved in shitcoin investments during my early days in the digital market, but my experience made me frown completely at anything that concerns shitcoins as I only support Bitcoin investment.

When i said cryptocurrency, I'm referring to the market in general and not the asset, and I apologize for whatever misconception that may have caused.

You did well for accepting your mistake and also for your apology, is not that using the word cryptocurrency is bad but as long as this thread is concerned using the word cryptocurrency instead of using Bitcoin can be very problematic and misleading expecially to new member that may want to venture into Bitcoin investment.
There are other thread in this forum where you can comfortably talk about cryptocurrency not here because what we are discussing here is Bitcoin investment, how one can accumulate more Bitcoin and hold for long either using DCA strategy to accumulate or other strategies such as the lump sum and also buying at the dip strategy, cryptocurrency is a just a general word where other coin such as shitcoins is included so newbies hearing about cryptocurrency might think is shitcoins which is never reliable to invest on and they might end up investing in it and regret at last, so been specific about the coin you are talking about is very important if it is Bitcoin then it is Bitcoin if it is shitcoins then it is shitcoins.
Also when even you are quoting some one try and cheek if you quoted rightly because looking to your quote you did not do it in a proper way.

Fuck the basic knowledge of trading, it is not needed for people who are into long term hold, and that's what this thread represent. What is the essence of acquiring a knowledge that you won't be making use of. There are many threads in this forum where such things are being discussed, if you in interested in trading or giving advice to people who cares about it, you should go to such threads. I also want to make it clear to you that there is no method of bitcoin accumulation strategy that's not profitable on the long term hold, that's why investors are encouraged to hold bitcoin for a long term.

Your trading mentality is what you are using to make your judgement here and it is drawing you backward. How about you look at it in a long term perspective, which is what this thread represent. When the market correct itself does it remain there forever? The market always goes back up. Bitcoin investment involves patience. Hope you remembered the last ATH that was set before which was around $69k, people bought it back then and held patiently till we saw the new ATH which was recorded earlier this year and they made profit. You never lose in bitcoin investment unless you decided to panic sell when there is a market correction.

You are ignorant about many things, how can you say this? I can't believe you have been following this thread for long and you are sounding like someone who just started posting here newly. Many times this issue has been discussed here that DCA is suitable for every investors, be it new or old investors, rich and poor investors inclusive.

I think you may have misunderstood me, I am in no way referring to Bitcoin as cryptocurrency, I used the term Cryptocurrency Market, that's different from refering to Bitcoin as Cryptocurrency. My intention is not to sound misleading but to state a point. I'm not a fan of shitcoins, yes I've been involved in shitcoin investments during my early days in the digital market, but my experience made me frown completely at anything that concerns shitcoins as I only support Bitcoin investment.

When i said cryptocurrency, I'm referring to the market in general and not the asset, and I apologize for whatever misconception that may have caused.