Topic: Buy the DIP, and HODL! - page 320. (Read 123703 times)

We are not discussing trading here my dear Frank. Technical knowledge is for people doing day trading whose focus is the perfect entry and exit. What we are discussing and practicing is long term investment which involves how to buy and hold Bitcoin in such a manner that the buying is effortless and the holding without pressures.

Like I already said before, seems you are mistaken the discussion here for trading because all you have explained so far is Bitcoin trading that is executed and settled within a very short interval of time. If you check the caption of this thread which is "Buy the DIP, and HODL!", you will realize you have deviated so much from the topic of discussion.

According to what have been discussed here so far, even newbies can buy and hold Bitcoin. They don't need complex knowledge and complicated mastery of the price movement of Bitcoin to be able to buy and hold Bitcoin. The DCA method have been properly explained and many newbies are already taking advantage of it to build their Bitcoin portfolio. It is not necessary to make it too confusing and complex!

One thing about Bitcoin is no matter how knowledgeable we think we are, can never be sufficient through out our Bitcoin journey, the more we keeping using and accumulating Bitcoin with time the better we grow further in understanding much more about Bitcoin.

Secifically down to Bitcoin investment the DCA approach is considerate enough for everyone, with no need for any further analysis and perfect timing, since the strategy is accumulating Bitcoin at specific regular intervals without considering the current price. The DCA appproach is just about keep buying and adding to one's portfolio without monitoring the value whether a DIP or pump.

Yes, I don't want to end up with empty hands in the next circle that's why I am buying small chunks of Bitcoin.  Since I am a student and not yet working to earn a real salary, the small Bitcoin I hold was purchased with the money I saved  out of my parents gift to me. When I receive money from my parents and family relatives, I used some and invest some in Bitcoin, the money is not enough to buy too many chucks but I only buy the amount I can afford now and I will hold it for a long time. Even after I graduate from school and start earning salary, I will be buy more Bitcoin every month and hold it.

It maybe doesn't state anything but actually as a investor you need to get more knowledge so that you will not fall down on some technicalities happen on the market and you can do any action regarding to what you are experiencing.

To many times market doesn't move the way how we like to see that's why its good to have great knowledge about something so we can shift our strategy to other that might work so that we can maximize our potential profit for sometime we execute our trade or on the time we aim or set.

DCA strategy is really a game changer since it make trading somehow easy for people who have less knowledge about trading and if they enhance more their trading skills for sure there would be a lot of potential for them to earn and be bullish.

Mate, you don't have to be an expert or have technical skills before investing in Bitcoin, you can invest in Bitcoin having a basic understanding by setting out your goals and objectives by considering the following factors

1. Your income flow

2. Method of buying, (lump sump) or dca

3.setting out your emergency funds, reserves and float of which you are going to learn more as time progresses.Having it in mind that every investment comes with it's shares of gain and lost(risk) gives you a certain level of preparation being ready to accept the risk part of it and not only looking at the profit side of it, having this in mind will give you that emotional rest needed to grow your asset.


How do you determine the perfect dip? The drop in price should be seen as an added advantage to even accumulate more Bitcoin in your portfolio and maximize profit at the end. Monitoring the market movement is mostly done by the short term investors whose aim is only to maximize profits within the shortest frame, whereas the discussion is about strategies of accumulating Bitcoin for a long term investment. The DCA strategy gives investors the opportunity to purchase Bitcoin at any time and price and accumulate more when in dip and hodl for future profit maximization.

How easy it is for beginners who really want to learn how to invest well in Bitcoin and how to manage money well in long-term investments.

Below I present an article for you to study if your intention is to really understand Bitcoin and invest in Bitcoin.
 https://www.coindesk.com/learn/what-is-bitcoin-dollar-cost-averaging-a-beginners-guide/

The hope of achieving profits is always the main point in every investment we make. So, in Bitcoin investment, we also have high hopes for the future, or to be precise, when our investment target is achieved. On the previous page there was something that said about mentality/psychology and of course that must be eliminated when investing in Bitcoin. If you are burdened with a thought, of course you will act on an unexpected decision in the middle of your investment journey. Maybe to prevent this, you have to be prepared to invest with a small budget from your monthly income and when you are mentally ready, you can budget larger funds to accumulate Bitcoin.

Apart from that, if a plan fails in the middle of the road, that shouldn't happen to us. Yes, unexpected things often happen in our lives and one of the best things not to disrupt our investment planning is of course to invest with money that is not used for other needs. Everyone may have made mistakes but they learn not to repeat them and that is a turning point to achieving success in their investments. Tell me honestly, if you still have doubts about Bitcoin then you are at a crucial period in your life, doubts must be removed to change your thinking about investing in Bitcoin as part of investing in our old age. In Bitcoin investment you start from the short term and change to the long term and become more successful in the future. Keep buying regularly, even if it's in small amounts, but over time you will see larger BTC holdings in your portfolio.

Yeah, obviously, bro, this is true that Bitcoin is always gives you the opportunity to buy because Bitcoin is highly volatile and their price movements are not always the same. I mean, Bitcoin always provides opportunities for investors to participate in it. When Bitcoin rises, it does not mean that the price went up and will not fall again, that is, it will not give you an opportunity to enter again, but Bitcoin gives you good opportunities every time you take an entry. This is our example. It is clear that when Bitcoin was 37k in 2022, no one expected that the price of Bitcoin would go to $16,625.08 on January 1, 2023. When it actually happened, everyone was surprised. So it means to say that Bitcoin always gives you the opportunity to take entry.

The concept or principle of Bitcoin investment doesn't state that everyone most have enough or sufficient knowledge before they could start investing on Bitcoin because in times of Bitcoin investment there is no fundamental analysis you should know before investing, perhaps that's one of the good things about Bitcoin investment because unlike most investment were you will need to have a very good knowledge about it before starting but however in times of Bitcoin you don't need much of that because you can start investing even when you don't no much about it and the strategy to use, however the introduction of DCA method became a game changer for so many persons who are looking for a strategy and also those that feels that there accumulation budget is too small for them to start the Bitcoin journey can now invest through DCA strategy with the believe that they will surely get to there destination in Bitcoin in the future.

In this world of cryptocurrency especially bitcoin you need to have your technical knowledge.most people engaging in bitcoin are uninformed money users,which don’t have any good knowledge about bitcoin,but if you are a smart money investor you will know when to purchase an asset when its price drops and holding onto it until there's a significant price increase and profit made.In in our society when engaging in bitcoin you need to crucial because of exchange rate and not to be at lost.But before you decide to “buy the dip,” you need to be fairly certain that the asset's price will rebound and not continue to decrease because you will be at lost.but to to able to engage in bitcoin dip you need to have good steady income to engage in it passively and to make profit.imagine those who bought bitcoin at the rate of 40k and which it decreases to 16k and should it would have been in lost .so have many income level it’s important before join bitcoin.but those who hold and waited till it raise will make profit.so engaging in this activity of bitcoin you need to have patience and good income level to succeed

for most newbie, the DCA method would be the best approach they will consider as a means of accumulating Bitcoin but it's going to be difficult for a newbie to start his bitcoin accumulation journey with a huge purchase because they are just new to the system and are more concerned on how not to expertience serious loss because most of them are not just new to the forum but are new to the bitcoin industry and would want to invest small amount first while they monitor to see that they get the first returns that will serve as a motivation to enable them accumulate more.

I'm not saying a newbie can't start his bitcoin journey with huge purchase because in the real sense the amount of bitcoin one accumulate is more about how financially strong one his and ones ability to taking a reasonable risk.

Also smelody made a bit of a placated and non-substantive recommendation to seek professional advice.. which is really stupid, because for years and years and years "professionals" have been on the wrong side of bitcoin, and also they likely would want to direct you into a financial products such as an ETF without necessarily considering the advantages of BTC's direct ownership... and don't get me wrong, I am not against learning from others who are smarter, yet sometimes they are not smarter when they either do not adequately know the subject matter and they might have some built in biases that the newbie is unable to easily identify, unless he has his own strength of convictions and abilities to engage in critical thinking. .and even critical thinkers can sometimes get lured into the wrong professional advice - so each of us should ongoingly be attempting to check our own blind spots and our sometimes receptiveness to not so great ideas.

another thing that smelody might not have had sufficiently emphasized is the value of experience and getting started in BTC investing/accumulation ASAP... and so even if we might not be comfortable with our level of knowledge about BTC, then we may well have to start out with a relatively small position size while we are learning and figuring out the details, and surely DCA can serve greatly in the getting started arena..

We should also keep in mind that even with DCA we might end up buying too aggressively, so we have to figure out what is our disposable income and make sure that we are sufficiently staying within our disposable income and not stressing out our own budget too much in terms of how aggressive we are in the beginning times.


We are not talking about cryptocurrencies and/or shitcoins here. So hopefully you know that we are talking about bitcoin, so maybe you would like to use the correct term if that is what you meant to say.. otherwise some of us might consider you to be lost or in the wrong thread or talking about some other topic... so if you meant to say bitcoin then why didn't you use such term?  Perhaps you don't know what is bitcoin, or maybe you were trying to sound smart by suggesting that crypto is the same as bitcoin, which shows that you probably don't know what you are talking about if you cannot even bring yourself to use the word bitcoin in order to show that you recognize and appreciate that we are talking about bitcoin in this thread.

Also when getting started, a person does not need to know how to secure his own wallet.  There is no reason to overly complicate matters, even though learning about wallets is something that a person does need to work towards knowing about, especially once he starts to get value in the $500 to $1,000 or more stage, and if he might be investing smaller amounts, he still might need to learn about wallets early in his bitcoin journey but he does not necessarily need to know about bitcoin wallets before he gets started.


Yes.. that is an interesting point in regards to many reasons that we might not tell friends and family about some things that we are still investigating and/or in the earlier stages of building our knowledge, and surely it may well depend upon how much we might rely upon friends and family in our own investigation process versus if we might consider that they might not necessarily be helpful in terms of our coming up with a plan that is sufficiently well tailored to our own circumstances, that also might have to do with some personal matters (and balances) that they might not be able to help us in resolving. 

So, yeah, if we are in the earliest stages of figuring out our own position regarding the 9 factors, friends and family may or may not be helpful - depending on our own relationship with them in these kinds of somewhat tending to be personal and/or investigatory matters.

I am not completely opposed to the idea of starting out small and going BIG because it is likely that folks might start out too BIG, so how BIG is a matter of balance that might not be easy for anyone except for that person to figure out how BIG is too BIG.. or how small is too small.  For example, someone could already know that he has $6.6k that he could invest into bitcoin, which is $4k right now and $2,600 over the next 26 weeks  ($100 per week).. so then he might have some questions regarding how much to start with... and/or how much he might need to learn before really getting started. 

He could feel that he has enough information to choose to invest $1k right away and $20 per week, and then to reassess after a month of investigation, and so there can be variations regarding how to start and what kind of timeline he feels that he needs to investigate in the earliest days.. and even in the process of investigating so that he could start to invest the $1k lump sum and the $20 per week.  There could be situations in which it might take him a few weeks just to figure out his budget or maybe he might need to take one or two weeks just to figure out how to source his first BTC.. or maybe there is some kind of fundamental aspect of bitcoin that confuses him, and he feels that he has to study and to resolve that fundamental questions prior to starting.. and so maybe he has a 1-2 week timeline for that.. .and so there could be quite a few variations that might contribute towards NOT buying right at the earliest moment, even though frequently buying some might be something that is towards the more urgent of matters rather than overly complicating how much he believes that he needs to study before getting started.


The BIG question is how much bitcoin do you need to have before you start to feel that you might need to have some other assets besides merely having BTC and cash.  So if you are in fairly early BTC accumulation stages then you are not even close to having to consider those kinds of diversification questions.. beyond bitcoin and cash.. and so how are you holding your bitcoin and how are you holding your cash. .those are likely more important questions, and then if you start to get to having 1 year of expenses in bitcoin and 6 months in cash, there might come a point in which you might start to think that you need something else in your holdings, but there also might not be any need to rush the matter, and then when you start to get to 2 to 5 years of bitcoin and still ONLY 6-12 months of cash, at various points along the way, you might start to think that you might need more cash or other ways of holding value besides just in bitcoin and in cash.especially if you are already experiencing quite a few very volatile periods... and the other ways holding value might be like the ones that you mentioned..

When someone decides to invest, of course they want to get a profit from the investment they make and if we choose too many types of investment then this will bring in a lot of profits too, but we have to be able to manage it well and if we are not able to do it well it will be worse. It's good for us to choose a type of investment that we understand well so that we can generate good profits.

If we have a proper understanding of the investments we make then this will really guarantee the investments we make and also we will be able to resolve any challenges we will face in these investments and it is also important for us to be careful in making investment decisions so that do it in an unhurried condition so that we can make the right decision.

You are correct when you say that having too many methods might really confuse beginners when it comes to making investments. They may try to overallocate without proper preparation, attempting to apply every strategy, or they may even become bogged down in deciding which is the best for them. Because of this, it's recommended that beginners begin with the DCA method. This is not only because it's simple to use, but also because it allows us to gain more knowledge quickly because it doesn't require chart monitoring and is very flexible, allowing you to customize your DCA purchases to suit your needs and your income for our own comfort.

In order to make better decisions, young investors should also prioritize learning and seeking out new information. While it may not always be clear to us why we are investing in bitcoin until we reach a particular point or perhaps even earlier, I am aware that knowing why we are doing so is a great motivator and will keep you motivated to keep holding since the time has come.

Even though it's still in its early stages, Bitcoin still has a lot of potential because nobody can predict what the next few years will bring. However, in order to be safe, once we have a certain amount of bitcoin holdings, we should try to diversify our portfolio by adding other more tangible investments, such as real estate, stocks, or bonds, or even starting a business. We would also try to balance our portfolio to avoid risking our income.

IMO there is nothing really wrong with an aggressive investment, as long as the investor knows what he is doing, and by knk what he is doing I mean, a place of investing aggressively with comfort knowing that your emergency funds, reserves and floats are also been taken care of.

When an aggressive investment would be unwise is when you are investing too much that could affect t you and later cause you feel regret, maybe investing to the point that you have no extra for yourself to take care of basic needs and maybe you now have to borrow at this point I'll say that the investor is gambling with his money cause he would always be in a state of unrest and might even find himself selling his holdings.

But it's also good we have our income planned out and we invest with wisdom, not investing to much or too little but investing according to the risk we are able to bear, cause if things go side ways you would still be the one to take care of yourself, we only give advice here, it's left for you to make the choice.

JayJuanGee, yes, I agree they can learn with time. Some investors have done it and they have really succeeded in developing their investment skills even to the expert level. It all starts with interest, they can develop strategies and abilities over time, and I admit that. Thinking too hard before starting allows someone to get scared and abandon their intention because they feel they are not ready to take the risk, but starting from something small for example $10 per week or $40 per month can make them more courageous in their steps forward.

The hardest thing here is to control emotions and psychology. There are many external influences that can make an investor change his plans midstream, including friends or family. Sometimes that is the reason why we don't need to tell our friends and family about investment plans, they can influence us not to take big risks regardless of their support for the final decision. Starting small and going big is much better than the other way around.

It doesn't matter if a newbie lump sum to take advantage of buying more bitcoin since he feels that he started his bitcoin journey late. As far as the newbie understands what he is doing and have already have faith and believe in bitcoin and plans to invest in a long term investment. If he has already prepared himself ahead of his bitcoin accumulation journey by keeping his emergency funds and reserve funds, and also money funds that will take care of his monthly needs.

It is always said to start as a newbie with DCA strategy, so that those who don't have much to invest would not be waiting to save a big amount of money first before they can think of investing. But if they start with DCA, it will give them the room to continue accumulating bitcoin regularly weekly or monthly based on how much they can afford to use in buying that wouldn't affect their other expenses, so that they can grow their bitcoin portfolio bit by bit when they are consistent and persistent with their DCA strategy, till when they have strong faith and believe in bitcoin after maybe one or two years of investment, he can increase the amount or when he have the money to lump sum, then he can do that.

What about the rich guys that do not care about buying bit by bit for a start because they have the money to lump sum, will you now say that they did the wrong thing. No...a newbie can lump sum or buy aggressively as long as it wouldn't affect his financial life, that will make him go and sell his bitcoin. I started my bitcoin journey with a lump sum that I got from the rent that my tenant paid me, and after I lump sum, I continued with my regular weekly buying using DCA method.

As long as a newbie can lump sum, and continue with his regular DCA purchase, it is not a problem and he will have a better chance of having more bitcoin than someone that started with only DCA. We know how our cash inflow is and everyone has the right to invest based on his cash inflow, and it is not a must that newbies should only use the DCA strategy, when they have to money to lump sum and continue with their DCA. The most important thing is that you keep on buying without stopping as a newbie to increase your bitcoin investment portfolio.

Yes you are right Investing can be profitable, but you must not invest so much in your business that you lose control of it. 
With the right information and understanding, you can save your financial status.  Care should always be taken to understand the objective and risks involved in the investment to avoid losses.

All I can say to summarise your point is that any amount of earner  person can do DCA. Mostly It is suitable for those who can save money after full month's expenses. I agree that those who follow DCA and try to hold Bitcoin can get a good return on their investment in the long run. But there are some investors who are looking for an opportunity to change their lives by investing in Bitcoin, I would advise them that if you can invest 20 to 30 percent of your income regularly, it will surely grow big in 2-3 years. Don't just do DCA but invest there according to your expectation. But for people of any income, this method can make it easier to collect bitcoins.

Promo- are you not aware that there are investors who invest in bitcoin but do not know so much about bitcoin investment like strategy to start with or thinking about their investment. In as much as bitcoin knowledge is important not everyone is expected to go deeper in the knowledge. As a beginner who had just heard about bitcoin investment or introduced newly to. You only need to know to read the bitcoin white paper first, followed by  knowing how to keep your bitcoin safe (security). After that you can learn other aspects with time.

The criteria for a pleb should be knowing how to protect thier little bitcoin from hacks, market condition- like piece fluctuation which can be dome by avoiding the act of trading. Although many beginners are influenced by people who they see as mentors in the space. So they try to take similar risk those big investors do take. forgetting that they are  new to the bitcoin investment and that the amount of bitcoin they have cannot be compared to what these mentors claim they have.

I think you are missing something here, aggressive buying is not necessarily investing everything you have in bitcoin.
I think you have to actually understand what aggressive buy is. Aggressive buy comes in when newbie who is starting his bitcoin journey or an old investor wants to have a certain amount of bitcoin in his portfolio within a short period of time. This often happens when the investor thinks he is late in bitcoin investment and wants to meet up a certain amount of bitcoin in his portfolio. This aggressive buy is coming from his investment funds which has been kept aside.

A newbie who has a lump sum at the start of his bitcoin journey and decide to make his/her first buy a lump sum is not making a mistake for me. Many people have missed their chances of accumulating enough bitcoins when they had the opportunities because they were waiting to know more about bitcoin. Waiting is always dangerous in the end. When the money for the first investment is there take action immediately and buy as much bitcoin as the money can get you. In his or her subsequent buy he/she can make use of the DCA method. My emphasis is on the first buy, if an investor can do it through lump sum it's not bad.
After the the first buy which may have have given him/her a reasonable amount of bitcoin, the next buy can now be through DCA.