Topic: Buy the DIP, and HODL! - page 332. (Read 124203 times)

Exactly, I think one of the thing that can also help an investor when it come to bitcoin is  being flexible knowing that you are not the one controlling the market the market is controlled by different factors so waiting for it to reach a certain dip before you invest is like saying you are the one controlling the bitcoin  movement and I can say this is really a sign of greed and fear of course it will lead  to missing out from good opportunity.
 
Knowing that investing in bitcoin is a long time investment, you should plan better and keep aside the money for investment as this will help you avoid anything that will alter your reasoning because as an investor you must be psychologically  stable.
Also, timing the bitcoin market earlier will give you an edge over the market as the higher chance of profitable investment will be there instead of investing late.
 

@Justbillywitt, You are 100 percent correct.
@Humblevirus, Emergency saving is something everyone ought to consider landscape aside in every setting not only in the Bitcoin investment area, and if you want to do it right there should also be room for funds whose purpose is for learning and skill improvement to be ahead in the space that will operate.

planning purchases that they often put off will make them hesitate to press the buy button. Yes, in an effort to dispel doubts, of course they are better off implementing the DCA strategy as most of us have done. Yes, for example they were waiting for the price of $39k and a few days ago Bitcoin experienced a correction to $39k but they were still hesitant to buy and of course they missed a moment to buy on dips. For this reason, don't hesitate in every decision to buy because the price will not be at the same point and will definitely change in a matter of minutes.

After all, we are buying bitcoin for the long term so why is there any hesitation in continuing to buy. Yes, if they had known about bitcoin earlier, I think they would also have been hesitant to buy because the nature of doubt is very difficult to eliminate in their minds if they have no certainty in their every action. So if we are not good at reading charts, it is better to just buy regularly, whether every week or every month, because to find the cheapest price, of course, buy regularly.

It is looking like a lot of people are mixing things up as regards what a dip is thereby making it complicated. It is not supposed to be that way. During the period of ETF approval, Bitcoin rose sharply to over $49k before the retracement started and price declined to around $39k, a $10k drop in price. This is a good example of a dip but it does not have to go that low before anyone buying the dips should start taking advantage of the discounted price. Under this scenario, an aggressive investor who have already set aside funds for buying the dips would have started buying already when price dropped to $42k and lower. You must not get the bottom where the price will turn and start going up as that is irrelevant, you are only focused on buying at discounted prices.

I apply the DCA method  but I sometimes also buy the dip when I have surplus funds after setting aside my emergency funds and that of my basic needs with my DCA running smoothly unaffected. So buying the dip should not be complicated as many people make it seem because it is a nice way of accumulating Bitcoin in addition to the DCA method.

Majority of parents train their children till adulthood and even see their grand children, only few that are unlucky due to uncertainty that lose their children before they become adults. Majority of traders run at loss but only few make profit.

It is easy to calculate it as long as you know your total cash inflow for the month, and from that, you can calculate out your monthly needs, keep your emergency funds just like stated by @Odohu based on your own scenario, so that you can know the exact funds that you will use to invest through DCA weekly, or monthly that wouldn't stress your as a newbie. When you fail to have these figured out and properly planned for since you are going on a long term drive, you are putting yourself at big risk and you will fail in your plans because you don't even know your left from your right. Don't play with keeping your emergency funds and basic needs funds sorted out before investing, it is very important.

Waiting for the dip is definitely challenging because no one knows when the price may rise or fall in the market. Those who wait for the dip may miss the dip because of the bullishness. For example, the dip we had a few months ago is no longer possible. No one will get the opportunity to buy bitcoins at $16,000. I've heard some people say they waited for $10,000 after they hit $16,000, but that dream never came true. Of course we would say that dips are good, but if you don't collect bitcoins hoping for more dip, you will regret it later.

Many investors don't want to understand DCA. But if they do DCA then on the one hand they can increase their holding without financial pressure and on the other hand the change in the price of Bitcoin is not affected.

Trading is totally unpredictable and there is a risk of you losing your money, cause what you are actually doing is predicting the next move of the Market and bitcoin has proven to be unpredictable, yes you might be lucky and yes their is a place for study and analysis, but what this enables you to so is to make better decisions and does not eliminates the fact that the Market remains unpredictable.

Okay let me say it this way, I do have a brother that gambles on soccer league and I've watched him make some analysis before predicting, he goes and checks for the past performance of the football teams and use that performance to make his predictions, sometimes it would go as planned and some times not, fo a fact that he analysied through past performance and checked a few prediction sites doesn't remove the fact that the outcome remains uncertain and is a gamble same with trading, although I don't want to talk down on trading and call it gambling but the rules are thesame, and its not reasonable for someone to be fucking around  with an asset like bitcoin, cause it has real value, you can gambling with your money ( fait) but not bitcoin, how many persons would place a bet with their homes or valued real estate, bro same as bitcoin here. I guess we all have to start seeing bitcoin as a valued asset. And that way we won't be having funny ideas playing with bitcoin.

Your making it sound so easy, I don't think so, you might get your analysis right but at same time the market could go against you. And about controlling your emotions, how can I put my emotions at rest when something as valuable as bitcoin is on the line. Trading Bitcoin isn't just risky its unwise especially as a newbie investor just starting to accumulate bitcoin, from what I've been reading on this thread, of you must trade your holdings, use a very little percentage, but that should be after when you have accumulated a lot of bitcoin.

Buy on dips is not such a bad strategy, but when it is been prioritized as a determining factor for investing or buying then it's more like trying to gamble the market, and I think these set of persons are not actually long term holders, cause true long term holders are looking at accumulating more bitcoin while these short term investors are just there to make quick profits, hence why they prioritize buying at dips, but the flaw of their design is the fact that you can't really tell if the dip you bought is the last dip, what if the Market continues to dip and you end up catching a falling knife 😅. Moreover, there are times that people tend to wait for the dip for long and it doesn't come meanwhile if they have been dcaing consistently during those times they would have gotten enough in their bitcoin portfolio. Buying at the dip is good but waiting for the dip is not a good idea. The best option is while waiting for the dip, buying by dca could make you reach your target faster.

An emergency savings is not what we should use to play when we really want to hold our Bitcoin investment over a long period of time. A lot of people always have plans to hold their Bitcoin for a very long period of time, but because of emergency savings they lacks side is what makes them sell their Bitcoin or sell part of their period when the problem arises. So for a smooth Bitcoin investment, we should always know that emergency savings are always necessary, and we should alao be trying to continue saving for emergencies that may arise in the future and as we continue accumulating more Bitcoin.
 
 

Exactly since you could touch your balances which supposed to be used for holding if you don't have enough emergency funds to use for certain things needed in future. That's why its been discussed that 3 months is already enough and some other say 6 months is fine so that they will be in good shape and nothing will disturb them towards their long term hodl plans. 

If they just say that they are here for hodl but they don't do any long term preparation for sure they would fail especially if these people will encounter a huge upset and the market will suddenly experience a bear market condition since provably they would dump their coins to save their asses. For this scenario emergency funds is really needed so that they will not think about touching anything then can afford or able to forget the funds they saved.

This is absolutely correct, I really like the illustration you have given as it paint a clear picture of why we must prioritize investing now that we have the opportunity because it is what we save now that can save us tomorrow. The DCA method is really a golden opportunity for us since it comes with it the discipline and rest of mind that should follow every worthy investment. Those who appreciate the power of starting small will be able to picture the future through the DCA method.

I don't think we are discussing how good trading is or not. If we begin to discuss trading now we may derail from the topic of discussion. You can already see many comments about people losing money to trading, that should tell you that trading is not for everyone unlike investing in Bitcoin for longterm hold which can be done by anyone if the simple principle like DCA is followed religiously.

Why will anyone go into trading that can wipe out your entire money leaving you in regret instead of focusing on accumulating Bitcoin gradually until you build something magnificent in the future. One thing I know about humans is that some people do not learn from the mistakes of others.

I think for a newbie getting these calculations right might be a difficult thing cause speaking from experience the best way for anyone to learn these strategies is to start doing them as soon as possible then on the process of doing so you would better start to the reasons for setting up each of them. Yes and it's also very important that we establish our income in such a way that we are very comfortable with investing in bitcoin and also so that we can take advantage of every Market condition that comes our way. And for a newbie I also think think as important as getting our income, emergency funds and reserves in place its also good we try not to fuck around with our holdings with risky practices like selling to get more bitcoin, cause the market can go against your favour and you would end up buying higher than you sold and also risky practices like trading, it's totally unwise to be rucking around your bitcoin especially in your early stage of accumulating bitcoin, our focus should be on regular and consistent DCA buying until maybe 2 years or 4 years before we decide to maybe go a little aggressive or start trying to be smart about our investment, maybe applying strategic selling to aquire more bitcoin but this should be done with only a minimal amount of our holdings like 10% if possible.

Maybe some people still don't understand some of the pressures that have been said previously for this reason, so there are still people who immediately rush to invest in Bitcoin with only minimal capital and their own intentions and determination without considering emergency funds for themselves in life. Because logically, emergency funds are needed to be able to maintain the Bitcoin that we have previously purchased so that the amount of Bitcoin that has been saved will not be disturbed by bad things in real life.

So this needs to be well understood by everyone who wants to store Bitcoin more comfortably by implementing purchases in several stages or by implementing DCA as has been done by many people at this time. In my opinion, Buy the Dip, and Hodl can be done by everyone by making stages or by DCA as long as everyone has prepared emergency funds so as not to disrupt the previously determined Bitcoin purchase plan within a certain time.

If someone is afraid of the dip, how will you see profitability in bitcoin. If you have been in the crypto for long, you will understand that dip is one of the most interesting time in the market. Dip gives you the opportunity to gather more and position yourself. Yes I know everyone loves to see the green candles, than the red candles, the beauty of the market as an investor is when you see the dip as an opportunity instead of seeing the fear that others are seeing. Remember if you don't buy the dip you can't sell the top. Those who are scared of the dip are newbies. Without dip there won't be much profitability in bitcoin investment.

The fact is that Peoples tends to misunderstand Bitcoin and it movement because of personal gain, ok, are the calculating or predicting the base on the are the people controls the market or what, this is deceit on their own side, you don't wait for a market that's is not controlled by you to dip to your satisfaction before you can buy because such market will keep disappointing and at the end you may discontinue your plan of buying, why not take the advantage as it is to continue accumulating, procrastination and indication is a problem to most potential Bitcoin investors, the keep reading speculations and waiting for what the call the right which may never come, why not make toll the way now and keeping doing the needful, this is the reason why I don't like going to the internet to read Bitcoin dip news or speculation because it is very discouraging.

Well I guess we have similar story to tell. I started from investing in ICOs of shitcoins like PumaPay that collected over $8 million and gave investors shitcoins that died without value. Because of that I made the post that It is only Bitcoin and nothing else. So, be it trading or ICO and whatever, I have learnt my lesson the hard way and have taken the decision already and so far, I feel much better and relaxed.

I know some people argue that Bitcoin does not give huge profits like X10 or X100 over a shot period of time. This is true and I like it that way because it is only someone filled with greed that will expect to make profits of X10 to X100 with a very short time. Those who are fixed on following the part will always live to tell their gory stories amidst uncontrollable tears. There is a popular adage that says that "when rain beats you twice, you will know the real meaning of cold". So I will not allow myself to make the same mistake twice. No matter how lucrative they make trading or investing in ICOs seem, it is and will never be for me.

Building a Bitcoin portfolio may be slow with its challenges such as being disciplined to follow the plans, but what is certain is that you are sure that you are biulding on a solid foundation and not on quicksand.

I'm not a trader but I've seen some investors that have been into trading Bitcoin and they are good regardless of the fact that they make few profits from it and moreover, how can an investor sell off all his coin when he knows that he can't buy it lesser than the amount he sold it so if any investor decides to sell off all his coin then he doesn't really know what investment is all about.


Your illustration is quite alright but I want to ask you from your illustration what if at the point of the parents taking care of the child in other for them to grow up and take their own responsibility then peradventure the parents losses such a child while they are trying to grow up is it a gain or a lost to the parents? See everything we are doing in life is just risk as no one knows exactly what the future holds or how it might turn out to be so also is our investments as we invest not actually because we are certain that we will make profits but because of our optimism towards positivity so anything is expected to happen to ones investment be it on the short run or the long run.

I never said any investment is 100$ sure or certain but rather their are some investment or doings that are less risky, for example holding and trading you can not compare these two because the risk involved in trading is on the high side, in trading despite his calculating of conversant that you think that you know the strategy losing is bound to tapping countless time in it, but in bitcoin holding your fund can only depreciate but it is not possible for it to depreciate to the extent of you losing all your hidlings, so when looking at these which one do you think that's better, with the little I know people that understand bitcoin market has already station their mind in going for more Bitcoin and keep holding for future purposes not immediate gains.

I absolutely understand your point of view that short term investments leads to emotional instability due to the fact that all your thinking or focus would be on the activities of the market whereas a long-term investor just buy, hodl and watch his investments growing from time to time so your presumption are quite correct regardless of the fact that some short term investors doesn't seems to know the dangers that are associated with short term investments and if the market isn't working to how they planned it then emotions might be involved and this is the more reasons why long-term investments is advisable because you can actually allow the Bitcoin in your portfolio grow while you feel so relaxed and a situation whereby you buy and hodl using the DCA, you may not even be aware that you have accumulated a lot of Bitcoin in your portfolio.

Trading is like gambling, because someone that don't have the skill to trade and is looking for trading signal, is a gambler. This is because he is throwing his money into something that he doesn't have any idea of, if the people giving him signal are only after his money. He will pay for subscription and also loss his bitcoin. I will say this is the a dumb idea. A newbie should stay away from trading, and invest with DCA and hodli for long so that upi can use your bitcoin investment as a life safer in future, when he is old. It is better to invest now that you are strong and have the funds to do so. So that after a long time, when you are old, you will be proud that you hodli your bitcoin investment till that time.


Will I say that you are short minded because you sound more like a trader than someone who have the intention to hodli for long. What is the point of Selling all your bitcoin portfolio in ATH, what will you do with the money that can yield you a better profit than bitcoin in the next four years, after you sold it. You want to start all over again, and miss the benefits of the compounding profit that your bitcoin will generate for you. You should also put into consideration that the price of bitcoin increases with timeline, so if you were able to accumulate 0.3 btc and sell it during the Bull run at ATH. It will be very hard for you to buy back 0.3 btc with the same amount that you bought it then.

The way a child is given birth to and the parents will take care of that child for many years spending and providing for him to make sure that he grows up and become an adult who can take care of himself and also take care of the parents when they are old, is the same way we need to invest in bitcoin and grow it through DCA gradually as a newbie so that a time will come when your bitcoin portfolio size has is big. Your money that you invested into bitcoin will start working for you by generating more profit as the price of bitcoin is increasing with timeline, and your bitcoin investment will start be your pride and it will take care of your expenses and whatever you need money for in your old age.

This is why I dislike trading because even when you you are a genius in trading doesn't mean that you will not run at loss, so why will I want to learn something that even when I am an expert, I am not guarantee to make profit all the time. A little mistake and you run at a big loss.