Topic: Buy the DIP, and HODL! - page 296. (Read 137181 times)

I think your more in need of knowledge than the people that you are trying to teach, I don't know if you are trying to mislead other users here with your definition of what bitcoin is, cryptocurrency is a general term, but bitcoin only refers to bitcoin and there is only one bitcoin, so I think you are trying to put other shitcoins in the same category as bitcoin, don't go around investing in other coins just because of hype from socs media thinking that it is bitcoin cause clearly from your definition you seem to be confused about what bitcoin really is, bitcoin is the real deal and if you have done any reservations you would see for yourself what we are talking about, firstly it has a limited supply and unlike other shitcoins that have a unlimited supply that can be created over and over without any limit, bitcoin is the best solution to inflation and also beats fait currency due to this factor too, and this point is just one of many other things you would find out from doing a personal research for yourself. I would have told you to start investing in bitcoin but what good would that do you when you don't even have the basic knowledge or have any conviction about bitcoin, anyway as long as you would take correction there is still hope that you would learn the right information.

In as much as I like your consistent on Bitcoin investment but one thing you should also consider is the possible fees you could incurred while making a withdrawal on every buy to your wallet, although as investors whose plan is to hold for a very long time it will not be advisable holding your investment on a decentralized exchanges because anything is possible so buying from an exchange and withdrawing to your wallet is actually the best but to be on a safer side in terms the fees of withdrawal you could strategize your withdrawal in such a way that if your accumulation is on a weekly basis you could accumulate for two or three months and withdraw all at once instead withdrawing at every buy which will cost you more.

To avoid large fees you may have to withdraw less often and that will save a little money. Especially for those of us who buy regularly every week in small amounts, it might be better to withdraw it once a month or 4 purchases. When carrying out investments regularly, we need to consider every cost we incur, especially to pay exchange fees when we withdraw BTC to a personal wallet. By making withdrawals once every month you will save your budget.


In fact, you have to remain optimistic to continue with your plans to continue accumulating Bitcoin. However, do you use the DCA method in the investments you make? If yes, then make regular purchases because DCA does not look at the price when you accumulate Bitcoin. I am the same as you in that I am also new to long-term investing but I remain firm in my stance to continue buying Bitcoin.

This advice will do no good, but harm to a beginner like simon_js who just started his bitcoin journey. The people that can wait when the price of bitcoin is high, are people that are in their maintenance stage of their bitcoin investment, or close to their bitcoin target, and not beginners or low coiner. 66k is not a price to wait for, when we saw the price at 73k. It is better that a beginner buy bitcoin with DCA approach regularly, so that he can increase his bitcoin gradually as delay is dangerous. What will he benefit when he is waiting, and the price did not come down to his expected time.

The goal of every bitcoin investor is to reach their bitcoin target or higher, and this is why when you are accumulating, you don't need to stop until you feel that you have enough Bitcoin in your possession.

Knowing this forum earlier is not a guarantee that you would have started investing in bitcoin earlier on before now, your convictions about bitcoin as an investment asset has a lot to play in you deciding whether to invest in bitcoin or not. Even without coming to know about this forum, you were not just interested in bitcoin that is why many of the signs or maybe advises you’ve come about on the internet about bitcoin didn’t just convince you enough to invest in them. A lot of people here are convinced about bitcoin but without funds to invest, it becomes a wish that cannot be fulfilled for them. Maybe if you’ve said you didn’t have money to invest in bitcoin, it would have made more sense to the bitcoin enthusiasts here than you saying you didn’t find this forum earlier. A lot of bitcoin gurus are not here and their investment in bitcoin is going fine. Since you’ve found this forum now, I will say that you’re not late too, keep bagging bitcoin in your portfolio, you’ll be glad you did so in years to come from now.


Allocating 10% of his total income into bitcoin investment is a nice idea and I think if he can stick to that for a long time, he would have accumulated a lot of bitcoin and got to the point of reaching his main target in his portfolio. 10% could be a good price to spare from his earnings, but for the months he can save more and put into bitcoin it would be better as he will reach is preferred target faster. Also, due to unforeseen circumstances the price might not be spared monthly for the investment, he can always readjust to fit in to what he can afford to invest for that month. The end goal is to have a portfolio with bitcoin flowing into it in designated timeframe and not a month skipped during that process of investment.

From what you've said here, it's good to know that you're passionate about buying Bitcoin but maybe what you're missing out on is trying to figure out the perfect time to start buying. It's normal to get into this mix, most especially if you've been involved in trading of some crypto in the past or you're surrounded by traders who have lost their money in the process of trading which might give you the impression that investing in Bitcoin could result in you losing the money you've used if you buy at the wrong time. The truth is that it doesn't work that way if you buy Bitcoin and hold.

Like others have rightly suggested, you don't need to be too bothered about what price you're buying since in the real sense you're not even buying up to a single Bitcoin. If you looked at the price of Bitcoin as at the time you bought some, if you had hold it till now or continued buying till now, you will obviously be in profit which directly suggest that if you still buy at the current price, you will still be in profit when Bitcoin goes above the current price to $100k or above. Know this that there was a time when Bitcoin was at $10k and some probably found themselves in a similar situation you found yourself and probably refused buying at that price but considering how far Bitcoin has come, what do you think should be hovering in thier mind now? It's certainly regrets because I don't even think that Bitcoin will ever go back to $10k. The truth is that the future of Bitcoin will always be better than it past and that's one reason why you can comfortably buy Bitcoin at it current price. Since you've not built a good portfolio at the moment I will totally suggest that you keep buying as much as you can cause if you're still unsure about this current price, thier is a very high probability that the halving will bring a new ATH that will have a massive difference with the last one and if you can't buy now, thier is no possibility that you will be able to buy in the future.

You have not lost any amount of money, if you have not sold your bitcoin, and I would advice you to keep on hodling your bitcoin for a long term and don't start thinking like a trader that are only after short-term profit, because this is where they make the wrong decision and sell to regret and the end of their actions. When there is a dip like this, it is an opportunity to buy bitcoin in discount, but it is better to keep on buying with DCA strategy weekly or monthly, instead of waiting for a dip that may or may not come.

Short term profit should not be your target because it kills the aim of increasing your bitcoin investment portfolio, which investment should be for a long time, so that the investment can grow and stand firm as a back up for your future. The best way to benefit from bitcoin is when you invest in a long period of time, because the price of bitcoin in future will be very expensive compare to now that you are buying it, and your profit will Compound to become your new capital as time passes on. So invest wisely, and don't start crying later for your actions.

I disagree with you on this, every i dea investor take advantage of every opportunities they see in the market. However, when  the price seems to be more expensive, you don't wait for any form of corrections rather the dca strategy gives the investors that flexibility of buying or making purchases irrespective of the price point and when it becomes low you can as well buy wholesomely or lump sum buy, the waiting strategy that you are referring to is more like a trading strategy than  investing, Idea investor don't attempt to time the market rather they have a certain level of preparedness as regards to the ups and down movement of Bitcoin where waiting can never be in their dictionary but rather utilize various strategies where and when necessary in other to increase the size of their Bitcoin investment.



Mate, you need to know that Bitcoin investment is not a quick and get rich scheme. Bitcoin is best performed when view on a long term perspective where you have to accumulate Bitcoin for different circles of about 5 to 10 years or more in other for you to have compounded value of your investment, but your expressions shows or talk more of a short term profits maximization which are associated with traders with the aim of maximizing profits within the shortest time frame. I also observed that you a bit confused such that you unable to differentiate between trading and investing in terms of Bitcoin the one that you are in to and you need to figure this out by yourself, although this is a Bitcoin investment thread and not some fucking trading discussion for short term profits.

Bitcoin market from 70 thousand dollars suddenly touched 66 thousand dollars, although I lost some money due to this temporary dumping of the market, I still see this change in the market as a big opportunity to make profit by investing. 

The price of Bitcoin naturally and a few days ago was 70 thousand dollars at that time many investors invested and some investors were waiting for the price of Bitcoin to drop a bit. That's why some investors were waiting for the price of Bitcoin to fall because they would have the opportunity to buy more Bitcoins at a relatively low price. Opportunities have arisen for these investors because the market is dumping a bit, at this time if those investors invest in Bitcoin and wait for a few days, they can make good profits in a short period of time. I already have enough amount of investment, then after seeing this temporary dumping of the market, I am planning to add some more amount of investment to my total investment.

I have made a deposit account which I have paid a few days ago, I want to withdraw the money instead of keeping it in the bank and invest in bitcoins because the price of bitcoins is relatively low now. If I invest now and hold for a short period of time, I will still get a good amount of profit from my new investment, which I will not get if I keep the money in the bank. 
Hopefully this will definitely be the best step for me in investing and I will be able to invest all the money in my deposit account and achieve success.

When Bitcoin prices become more expensive, you may stop for a moment to wait for a correction. You can buy it again when the Bitcoin price drops and accumulate it. That's what investors usually do.

However, when people use the DCA method, they may continue buying Bitcoin until they have decided to stop buying it. They just wait or continue buying Bitcoin, depending on their respective plans.

Many people feel it is too late to buy Bitcoin because some have known about it for a long time. But they just decided to invest the money in Bitcoin. So it all depends on each person's plan to continue buying Bitcoin or postpone it until the Bitcoin price declines or experiences a correction.

I have to first congratulate you for finding this forum, where all the information you need to be a successful Bitcoin investor is available. Bitcoin have not become too expensive, you can still buy now and hold because the future of Bitcoin looks very bright. When Bitcoin was $100, some people also said it was too expensive and refused to buy, same thing happened when it got to $500, $1,000 and even $10,000. When the price gets to $100,000, some people will still think it is too expensive but that will not stop Bitcoin from continuing to rise because it will continue to rise over the years.

Bitcoin is designed in a way that the price will be rising as it continue to experience halving, an even that reduces the quantity of Bitcoin that miners get for confirming transactions.

Instead of looking at the price, just buying continuously as your finance can carry using the DCA method that have been explained in this thread. Don't worry about the price and keep buying fractions of Bitcoin and build it over several years and you will see how well it will grow.

I think I understand where you're coming from but I don't think it's a good idea allocating equal amount with your bitcoin accumulation and emergency funds, bitcoin accumulation is different from emergency fund so if possible bitcoin investment don't need a fixed amount but if only you can. People who actually don't feel the need of having an emergency fund when accumulating will later go for their bitcoin investment as an emergency fund. Emergency fund is just a hedge and it serves as a protection so instead of withdrawing your bitcoin you just have to use your reserve or emergency fund. No one can actually advice you what you want to do with your emergency funds, it's likely after saving huge amount of emergency funds or after keeping this fund for like 2_9 month or beyond you might feel like using the money to accumulate bitcoin extra as long as you can fill the money back or it's advisable never to touch the fund as anything can happen or probably keep saving more emergency funds, from my personal opinion I don't advice you touch your emergency fund. If your the type that wants more you can go for something else as no one can fully go into bitcoin 100%, but before diversification make sure you’ve gotten a balanced portfolio. Emergency funds is needed as no one can predict what will happen next so it's advisable when planing emergency fund should be included from start.

You don't need to be afraid and confused on what to do, but I understand how you feel as a newbie, who just started his bitcoin investment journey without the idea of bitcoin price movement. What you need to do is not to wait, because waiting is very dangerous. You should use the DCA method to accumulate bitcoin, as it is the best for new investors like you who are ready to invest in bitcoin for a long time, and also build their bitcoin portfolio along side. You should make a proper calculation of your monthly income, and set aside your daily needs for the months, and also keep aside some funds for emergency that might occur during this period that you would be buying bitcoin regularly, so that you don't go and sell your bitcoin when an emergency rise. You cam also have a reserve funds, then any left over, you can use it to buy bitcoin regularly weekly or monthly.

You should be consistent and persistent with your bitcoin accumulation so that you don't skip any week or month, because that will slow than your bitcoin investment from growing with time-line. You don't need to wait just get started after you have figured out how much you can invest in bitcoin that would not affect other expenses. The DCA method gives you the opportunity to buy bitcoin at various price level both at the dip, sideway movement and during the pump. This is is best option for you, and if you get started after a long period of time you will be happy that you took the bold step. If you keep waiting and bitcoin price did not dip to 50k, it means that you won't be able to buy and you will miss out the opportunity of increasing your bitcoin portfolio, and you will regret it, because bitcoin price increases with time-line, and the profits of buying now.

I don't have much bitcoin at the moment, I only started buying around the middle of last year. Since the price was above $50k I decided to stop buying and now the price is even higher. I'm still unsure whether to continue purchasing or not, I'm waiting for the price to return to $50k or at least below $60k. Although I am pretty sure bitcoin will reach $100k but buying bitcoin for $66k is still too expensive for me. I'm still waiting for the price to go down and will buy again.

Even so, I am also afraid that the price will get more expensive and miss this moment, but I am still confused and don't really understand bitcoin price analysis. I'm still waiting for the price development and keeping my money in cash, once I'm sure maybe I'll start buying bitcoin again. I will monitor bitcoin price movements this month before deciding to buy again

It's a good thing that you have finally decided to invest in bitcoin after neglecting it when you first heard of it. You are not alone on that, many of us made that mistake the first time we heard about bitcoin. It's a good thing that you are also buying bitcoin little by little as you can on a continuous basis and withdrawing to your wallet, as it's not wise to keep large funds in a centralized exchange. But to avoid paying much withdrawal fees since you are buying in smaller quantities, you can make your withdrawal once after accumulating a reasonable amount of bitcoin, let's say from $500 and above. When you have accumulated up to this amount you can withdraw. This is just a suggestion. Regarding buying bitcoin when the price is high, you can use the DCA method to buy. The DCA method which is professionally know as dollar cost averaging, is a method of buying bitcoin, on a regular basis with a fixed amount of money. It could be weekly monthly depending on your financial flow. This method is use to buy bitcoin irrespective of market conditions, wether bitcoin price is high or low. It is designed for all market conditions. It is usually used by long term investors of which I believe you are one of them. So you can try this method and continue buying your bitcoin without minding the price of bitcoin.

Yes I agree with you @mayor of ogba, allocating 10% to his investment is a good idea considering the fact that he is not financially strong enough to go beyond that which May affect his investment by being stranded along the road, having certain level of preparedness as regards to building up a strong emergency funds is actually what will help you not to depend on your investment to solve emergencies, it is better to go wimpy as low as 10% than having a retarded investment growth or being cut out along the line.

I'm quite inquisitive to know how much bitcoin you've bought that makes you hesitant to continue buying now because you think the price has increased too much.

I know that feeling that comes when you've probably invested above your normal range and you kind of think you've arrived and don't need to accumulate more bitcon or the feeling might come  that you should necessarily slow down on your accumulation because you can't buy much with the little amount you've kept out for your DCAing. It's normal to feel that way but if you can continue more further it will go a long way in boosting your portfolio. Making few months of stacking is for me too short termed and I wouldn't advice you to relax on your buying. It's true if you had started buying earlier this year, the value you used at the time isn't worth what's currently obtainable at the moment but understand that this is not the last stop to how bullish the market will get to. The halving is just by the corner and the truth is that you've not stayed even up to a single circle and as a single person it's practically hard to believe that you've accumulated enough Bitcoin that might have put you in the fvk you status or give you the leverage of waiting for moment when it DIPs so you can take advantage of it and stack up more.

Maybe you you're looking for an answer to what's probably bothering your mind and let me come out plain. Should you still buy Bitcoin now that it's $66k? Absolutely yes. If you're still on your DCA routine it's never a bad idea to buy at the time you've set out so you don't risk procrastinating and waiting over and over again and then the market continues getting bullish and all you're left with is regrets and hope that Bitcoin does comes down in the future so you can buy. Make it a necessity never to miss out on your DCA plan so it becomes easier to get to your accumulation goal without emotions coming along your way as a major hindrance.

Mate, bitcoin is not an altcoin. Bitcoin is a solid project that allows you to make payments with no one scrutinizing your transaction. Bitcoin also gives you total control over your money, and nobody will decide when you will have access to your money. Also, know that bitcoin investment is safe because bitcoin has been here for more than a decade.

Buying bitcoins little by little and withdrawing them to a personal wallet is the most effective way. I've been doing it for a few months and now I think I'm pretty successful even though I only have a few bitcoins at the moment. But I hesitate to buy again when the price of bitcoin becomes too expensive. Do you have an opinion? Unfortunately I just found out about this forum, if I knew about it a long time ago maybe I would have more bitcoins. Even though I've known about bitcoin for a long time, I was hesitant to start buying bitcoin for a long time before finally deciding to start buying it on binance

Sometimes we all need to be grateful when someone wants to remind us about a small mistake in a discussion because what you need to understand here is what everyone here is discussing. So obviously it's quite necessary to put in place a check before doing anything that might provide a different understanding than what is being discussed now. Here everyone has discussed how to apply buy the Dip, and Hodl in certain conditions so that everything must be really well directed even though I myself also really understand when a Junior who is learning starts making a few mistakes which everyone can understand.