Topic: Buy the DIP, and HODL! - page 362. (Read 108501 times)

I told in terms of a broader perspective not just for the crypto and its important to note that I am saying it for the retail investors. I guess if you are talking about Bitcoin alone and long-term holding with no near future commitments then it will work but the chances of being as a small-scale investor is tough that is why allocating funds for long-term as well as short-term will give more returns than simply long term holding.

You have provided some good insights into investing by timing the market through utilizing the technical charts and historical patterns, with a well thought out plan to accumulate Bitcoin in bearish phase.. This strategy similar to DCA can also help to reducing investment cost, but they do require strong proficiency in technical analysis.

It is worth mentioning here that during the recent bear phase in Bitcoin market, there have been extensive discussion and debates about identifying the bottom price of Bitcoin in crypto communities. Some fortunate individuals were able to identify this bottom at around $12,000 in 2022 and made significant Bitcoin purchase. I strongly believe that in the context of current positive development in Bitcoin, such as immense interest of financial institutions in spot market ETFs, it is possible that we may never see $12,000 or even $20,000 price again in future.

Everything needs a proper plan. No matter what you do, if you plan ahead of time, you'll make more mistakes and feel haphazard. 

When engineers construct a house, they do not start building the building directly, rather several engineers come together to first design a building and then they work according to that design. Just as engineers need to design before building something, we who are investors need to have a prior investment plan before investing. If we hold a coin for a long period but sell the investment again when we need, it is not the right thing to do and the only reason why this wrong thing is not planning ahead. An investor should invest by thinking about how much money we have in reserve and how much money we invest so that we don't have to sell our investment later. If I invest wisely and if I have a plan I will keep my investment for a long time and if I invest in that long term plan then no matter how many problems we face or economic crisis we will try to overcome that economic crisis in some other way.

From what I understand about investing, I think you should invest in a long-term plan, even if you are late in investing. If we do not invest in a long term plan then we will not understand much about our profit and loss by investing because to understand the amount of profit or loss we need a big change in the market and that change must happen after a long time.

I think I will disagree with you on this becausen in as much as our financial goal on investment is making profits but considering a short-term investment as a back up investment is not ideal for me.

From your statement you mention the obstacle or challenges for long time holding is a sudden change on market, perhaps you are misunderstanding short-term to long term holding because there is know way you could be affected by a sudden market movement when you are holding for long.

Well it depends on your definition of short-term investment because as an investor the only way to be at peace and free from price panicking is by holding for a long time because achieving anything on short-term investment on Bitcoin is like a gambling but if you hold you will likely see  the benefits.

You are right @JJG, there is no guarantee that bitcoin price will increase till infinity, even though we know that there is a high possibility for bitcoin price to keep on increasing based on past record, so that we don't end up accumulating aggressively and when the price don't turn out the way we think, we don't end up disappointed. When investing, you are to have two options is your mind which is what is bitcoin price did not reach my expectations or it reaches my expectations. This is will enable you to be careful when investing and also go on with a long term investment and steady accumulating because you know that this is the best way to make profit even though not too much should in case it doesn't turn out as you planned. The fact remains that when investing in bitcoin, don't see it as only making profit from it and don't expect too much from bitcoin because it is turn out not to be so in future, you will might get frustrated. But see it also as a store of value rather than keeping fiat in the bank convert it to bitcoin because your funds will be save from depreciating, and see it as a hedge of inflation. When you put all these in your mind when investing in bitcoin, it will give you more courage and motivation to continue accumulate regularly with DCA method.

You don't need to understand the market when you are investing in a long term investment, as long as you are you have plans to use DCA to continue to accumulate more bitcoin on a regular basis. There is no opportunity anywhere in the market to wait for, now is the opportunity to start investing because the price is still cool and you don't need to wait for any other opportunity because you might end up wasting your time waiting for what you think is the right opportunity and missout just like the example that you gave about those people waiting for bitcoin price to dip below 15k and now it is 35k. When you have started your bitcoin investment journey that is when you can then start keeping funds on reserve to buy at the dip, in case the market experiences the dip. It is good to get started now.

Therefore, so that our plans are not disrupted by something that may come in the future, we must implement the plan along with the risks. I mean we have to think about the worst things in our plan, so that when we are doing the plan we made at the beginning and then there are difficulties that come, we are ready with it and we don't need to think of another plan because we have prepared a solution at the beginning. That's also what I'm doing, for example now I'm doing DCA and now my financial situation is fine for then just continue to do this strategy. But I prepare like fiat money savings for something bad to happen to me later (hopefully not) so I don't have to plan to sell assets because I have money in reserve.

The financial foals should be parted into two, short-term and long-term goal then only it is possible to achieve them one by one but most of the retail investors including crypto community set their goals longer but they miss to see the obstacles in the near future such as sudden changes in the market which will make them to panic and make wrong choices which will go against what they planned initially.

While you make a plan to hold and be able to get more bitcoins for yourself, many obstacles will come along the way to make sure that your target is missed. As you plan, make room for flexibility when necessary, so if your plans go sideways, or is being wrecked by challenges, you will only be bothered by change in plans, not a change in goals that you have set for your investment. Changing the plan happens, but changing the goal of investment should not happen except it is to set a higher goal. 

Actually I don't think monitoring or always checking the Bitcoin price is an addiction but however in as much as most people advise to invest and not monitor price of Bitcoin there are also other investors who get there investing inspiration from checking the Bitcoin price because as an investor in one way or another we have something that motivate us, so considering it that way we shouldn't blame those that check price at times.

Perhaps when we talk about emotion on investment, I think each individuals tends to react in different ways if they are checking the price of Bitcoin and is moving opposite direction, it doesn't necessarily mean that an investor could easily be affected emotionally if watching the price, so is totally depends on individual to no if it affects them or not and you could abstain from watching it if it does.

One has no right to see another's wallet. So of course those who are here are definitely holding a small amount of bitcoins for the future. But those who have sources of income but are not able to deposit their bitcoins can deposit bitcoins by adopting DCA strategy. Investing in DCA method on a monthly weekly basis at any price of Bitcoin will make Bitcoins very profitable on average. The duration of the Bitcoin deposit wallet should be long-term, then investing in the Bitcoin DCA method can definitely accumulate a large portfolio.

When investing we must invest in long term plans. I believe from my perspective the longer I hold my investment the more likely I am to make a profit from my investment. Some people just wait for opportunities but they never invest and even if they dare to invest they can't hold their investment for long. I would like to give an example of some people who have been planning to invest in Bitcoin for a long time but they are so worried about the market that they have not invested until now.

When the price of bitcoin was 15000 dollars they planned to invest when the market went down a little bit but since that time the market went up a bit then they thought if they invest now maybe the market will go down again they waited more. And after waiting, when the market went down a bit, they thought that maybe the market will go down much more, that's why they waited again, but the market went up again, they waited for it to come down, but the market went up again, while waiting like this, they could not invest until now. You must invest by understanding the market and waiting for opportunities, if you don't have enough courage to invest then how will you invest later and keep your investment for a long time.  

The prerequisite for investing and holding it for long is to first build courage in your mind and develop the mentality to take maximum risk in the right place. When you have courage in your mind and inclination to take risks, you can invest and hold it for a long time.

Keep your investment for long term and set yourself a goal I tell you your investment will never let you down but will give you better than your expectations.

I doubt that off the cuff, I have any special insight into the topic, except that there are all kinds of people, and frequently they have various kinds of busy lives in terms of how they spend their time, but if they get involved into a new topic they are going to be bringing some of their already existing habits, but at the same time, if you are introducing a new topic to someone they will likely end up needing to make some time and space for the topic, and surely once they start to get invested, then they are likely to become more curious about the topic.

There is already a lot of corrupted thinking that comes from the various corrupting influences of fiat and the various ways that people are manipulated in fiat systems, and so there are so many people who might not even know how to save money or to have investing strategies, so if they are introduced into some kind of investing and/or savings then they are likely going to have some natural (I am not completely sure if it is natural but kind of bred into our values) to want to gamble and trade, so they may well not even know the difference between trading and investing, even if they may well be smart people but they might not have learned about personal financial management.. and so even though personal financial management does not necessarily require any special skills, many people do not exercise good cash management, even though they likely understand a lot of the basics regarding how much they might want to pay for things and if they have enough money after they have figured out how much they can make and if they get training then they might get promoted to be able to make more money to be able to have discretionary income.

So if someone has some extra income (discretionary income) then the person can use that discretionary income to save and invest, but they might not know how to save and invest so they merely think about what they can buy now, so many folks have troubles with delayed gratification and they are very tempted if they can figure out a way that something might earn money quickly, then it makes more sense to them, rather than having a longer term plan because the longer term remains uncertain and even when they put their money into longer term plans there can be a lot of doubts about if that asset is going to be a good place to store value and if it is going to increase in value.

If you hardly have ever saved in your life and maybe you have ONLY saved up to maybe 1/4 of your annual income, you might not know what to do when you are able to save greater amounts.  Remember, even investing or saving 10% per year for 10 years is ONLY going to get you around 1 year of your salary, so it would take around 2.5 years to get up to 25%, and are people even able to keep investing and/or saving after they get 25% of their income?  They get tempted into taping into it for some short term pleasures, and so sure not everyone is unable to control their shorter term temptations to tap into their savings/investments, but it is something that we likely have to practice to get better at it and to put our value in various places in order that maybe we might be able to draw from some of it from time to time, but trying to keep focused on building it.. surely not easy, even though many folks should be able to learn those kinds of self-discipline kinds of skills to also create longer term plans and maybe not over investing in order that they can do both.. they can both invest for the long term and also treat themselves with some pleasures, but just DON'T be dipping into their savings/investments because dipping into them tends to undermine them and takes away from their compounding effects.. and probably especially bitcoin (even though some similar practices can be put into place for other investments/savings too).   

JJG, your contribution is valuable. I'm still wondering, based on your explanation, why some people prefer to trade or use other strategies when they know that checking the price often can lead to emotionalism instead of DCA, even though it's a safer approach. You know what? I truly needed this advice. I'm already aware that many people who regularly check prices are traders. However, some individuals frequently monitor the prices, even if they don't trade. Do you think this is a price checking addiction, and could it be detrimental to their investments? What are your thoughts?

Anyone who owns bitcoin may well have difficulties not watching the price, even if s/he is not trading.  Of course, if s/he is DCAing then there may be less reason to look at the price, but if s/he is buying on the dip, then there might be some desires to try to figure out how much of a dip is enough of a dip. .which surely can lead to more attempts to watch the price and some times might even contribute to more emotionalism than would be preferable in the investment.. so yeah sometimes some of these people might end up wanting to trade rather than to consistently accumulate, so there can sometimes be some confusion and even seemingly contradictory/emotional behaviors that might not get better with trying to figure out which way the BTC price might go and maybe lacking some confidence in what kind of plan the person has in terms of BTC accumulation.

Whether early or late, predicting the price of Bitcoin should not be taken as a priority. In my opinion what should be focused more on should be how to accumulate Bitcoin if we do not have enough to fulfill our quest before the next bull run. Look at how often Bitcoin price changes, it will be disappointing if the price eventually goes to the peak sooner and we do not have enough in our bag. Its really annoying when I see people claiming to be HODL but they cant get their eyes off the Bitcoin price, its literally the behavior of an investor who is dreaming of being a trader to me. Instead they should just gamble their fund rather be deceiving themselves.

You know, some (not all) of those people who have negative view about Bitcoin are obviously the cause of their predicament in the sense that they got greedy and was deceived because of promise of huge APY that most of those altcoin project have promise them, some people too became greedy in the sense that, after they buy thousands or millions of coin at a cheap price, the coin will pump and they will be seeing a good profit bit they will not sell because they want it to go further, they forget to realize that altcoins in not Bitcoin, Bitcoin always have the bull and bears season that repeatedly happens but altcoins pump and dump is just something that can happen once or randomly and if the investors is not lucky to sell on the first pump, then that will be a total loss for them because the token might not pump again

After some of these people have fallen victim, they will begin to influence others negatively about Bitcoin, meanwhile they were fooled by altcoins.

Yeah that's true, is actually too early to predict what will become the price of bitcoin now because Nothing is certain in times of the price right now and even considering the halving that's yet to come so perhaps we shouldn't dwell more on knowing what the price of Bitcoin will be before the year will runs out.

But however in as much as we feel is too early to predict the price of Bitcoin but one thing is for sure that some day in the future the price of Bitcoin will surely grow even more than our expectation, so emphasizing on the price of Bitcoin right now is just like a way to motivate themselves that they made a right decision on choosing Bitcoin amd the importance to continue accumulating Bitcoin, but perhaps one of things I realized from most people is that they tend to invest more if there are being listing to speculation about Bitcoin price, which gives them more courage to no that investing on Bitcoin will never be a waste for them.

holding bitcoin must be wise, that is the most important thing... everyone who buys bitcoin with the aim of long-term HODL, must have good financial planning to avoid failure to do "HODL" in the future, you or your relatives will definitely one day experience sadness or suffering from illness and how do you cover all that when you don't have emergency money or savings, bitcoin is a very volatile asset and its price is predicted to exceed $100k, so i am very confident about the future of bitcoin, some people suggest diversifying investment assets that i own but i am only more confident about Bitcoin, the others are not convincing at all.

Yes.. I had meant to put a link to My entry-level fuck you status chart.. so I fixed it in the earlier post.. and it mostly seems that we are agreeing.. just phrasing some of the topics differently... and so sometimes things do become more concrete after time has passed, but at the same time, it can be good to have a plan too.. so that we may well be in a better place if the BTC price ends up playing out in a positive direction, then it will make more sense to look at what we might want to do, based on where we are at, and if anyone is ongoingly accumulating bitcoin, then there can be a lot of test of the resolve if the BTC price goes up 3x, 5x, 10x or some higher amount and then comes back down with a correction that might be more than 50% or maybe even in the 60% to 80% levels... so how to manage that cannot necessarily be easy.. and we cannot even be sure how closely future cycles will look in comparison to our past cycles.

You could interpret my post in the direction of selling BTC, which in fact I don't assume that's the case. Yes, at this stage, perhaps my opinion is that the investment we make will of course have a target of achieving success in long-term planning. Especially in the long term, of course we have the desire to be able to generate a greater ROI and the $100k benchmark is mostly targeted by them, even though they won't selling later. But the achievements they have made are certainly a benchmark for success in holding in the long term.

In holding in the long term there are certainly many difficult trials that we have to face and I think you have felt it when the dump and went up drastically but you were able to hold on to your BTC holdings. Of course that is a big achievement that you have had in planning in the long term. That's the point I might have assumed in the previous post.