Topic: Buy the DIP, and HODL! - page 371. (Read 108461 times)

Yes.. a lot of people have this issue, and maybe they have to figure out some kind of a way to invest less and in an ongoing kind of way in order that they recognize and appreciate BTC price dips as opportunties to buy more rather than either lessening their position or stopping their DCA (or their regular buying) right during a time frame in which they should be attempting to remain consistent and persistent in their buys.

And similar things surely may well be happening currently, when guys start to think too much in terms of the dollars that they could get by selling now, and it is really hard to know if the BTC price isn't going to keep going up and make them regret their decision.. so it is difficult to hand-hold all of the people and each person has to kind of figure out these matters for themselves, and sometimes, we can see really seemingly smart people doing dumb things when it comes to their finances, and part of the reason is because they have never really been able to live with a kind of deferred gratification mentality that they can cause to last for years and years.


I doubt that the price dynamics of bitcoin gives too many fucks about what month it happens to be. .and yeah sometimes there are various macro-factor forces that are working on pushing bitcoin's prices during certain months, but there is a lot more going on in bitcoin besides trying to figure out what it may or may not do based on what month of the year we might be in.

The position that the bitcoin price is heading to, is what many of us don't know whether it will keep rising above $33k or fall below $33k. Historically, the month of October always has bitcoin rise in price, which it finally did, after seeing it fluctuate around $27k - $28k for weeks.

The month of November will be in a week and we don't know what bitcoin price would be by then. But I believe that the price of bitcoin will fluctuate at a higher price of $35k - $38k in November

Maybe it's quite difficult to explain because those who sell Bitcoin at low prices definitely have problems in the investment they make, such as fear that the price will fall further and there is also no confidence for them to hold it for the long term. If we look at the period last year where the price of BTC fell quite significantly to the $15k price level. Of course we see many people selling their BTC at that time and of course we don't know the reason they sold BTC at such a low price.

However, we as holder, we think they made a mistake by selling at a low price because if they waited a little longer, maybe they could get a better profit from the decision they made. Apart from that, if they play in the waves, the risk they take may be greater if the plans they have made end in failure.

One of the factors that affect most investors is always consistently watching the Bitcoin price movement, however in most cases no matter your intentions of holding watching the price all the time could affect your psychology or emotions that could make you to panic and if not careful it could lead you by selling of your accumulated Bitcoin.

For beginners who just started accumulating Bitcoin using the DCA strategy should be aware of Bitcoin price movement so that they will not be influence to start trading the market because with the potential of Bitcoin this few days price movement will be nothing compared to what is coming.

So let's get started and keep on accumulating with our DCA strategy.

Sure there is a problem with people who sold on the way down, but that does not seem to be the crux of the main kinds of problems that are likely to afflict people who are fucking around with either selling too much bitcoin too soon as BTC prices are going up and even sometimes either failing to continue to DCA, stopping their DCA or cutting back on their DCA because they are trying to play UP and down waves that may well not end up taking place in such amounts that allow them to get a sufficient amount of advantage from those kinds of plays to make them worth their efforts when maybe they just need to continue accumulating BTC without trying to play the waves.

If they learn, better. If they not then they will still learn at the end of it. We all panicked before and the lesson was there for everybody.
If you're not that strong in heart, you'll get out of this market too early and you'll lose your optimism on it.
Learning when to sell and if you're decided to do so, you're the only one to dictate yourself to do such and if they listen to us, good for them and if they don't, not our loss.

You have great empathy for people who have problems with strategies for holding bitcoin, which is a good job in my opinion, because people don't have the same sense of responsibility that you do.

But I need to underline your statement about "it is mandatory to give advice to those who are still in doubt", you need to know that every person is different and many bitcoin holders keep it a secret that they invest in bitcoin, but that is possible in real life with your environment , but in an anonymous forum like this, talking about investment strategies in bitcoin, strengthening each other's minds sharing buying strategy thoughts, I think that we need to do it.

Yes, that's how it should be, we as one of the people who strongly believe in the potential of bitcoin must give advice to those who still have doubts about this bitcoin investment. Because I also became what I am today at first also full of doubts, but over time the doubts slowly disappeared and created me as I am today.
I also had a moment where I was very panicked and ended up doing something I shouldn't have done, namely selling bitcoin. I did that at the beginning of my introduction to bitcoin, and of course it became a regret.
Now I don't want to see other people regret what I experienced, and one of them is always giving good news about bitcoin (not forgetting to educate about the risks too). If I have done that then for the next they determine, I only give advice without coercion.

But for some people, even though they have a very good understanding of Bitcoin, its value proposition, how it works technically, its incentive structure, its ETHOS, they STILL sell in panic. Why? Human Emotions. To tell everyone the truth, I almost sold in panic a few times too. But my cold-storage set up stops me everytime.

 

I literally have an offline computer storing all of my Bitcoins purchased from 2018 and 2019, and moving them them gets very, complicated. It stops me from making an impulsive decision. Plus if you want real cold-storage don't use a hardware wallet.

I don't want people to experience the panic that I've made before and that's why giving them some advice on what they should do about holding is like a responsibility if you know that they're making a mistake.
But that should stop there because once you already told them your advice, they're on their own already and it's up to them if they're going to follow what you have said or not.

Just let people sell their Bitcoins out of panic. They must regret that they sold Bitcoin too early and only panicked when they saw the price decrease. Now is a good time to continue the DCA strategy because Bitcoin is still not rising too high.

But you have to be careful because from now on, Bitcoin's journey will be more extreme. That will make many people panic again. So prepare yourself mentally for Bitcoin's next move.

For some people who sell their Bitcoin because they panic about the falling price, of course they don't know very well how to make a profit from Bitcoin. By having a good understanding of Bitcoin, of course they will be able to benefit from Bitcoin and of course they have an understanding of how to get it and how to profit from Bitcoin. Yes, the DCA strategy is very good for those who have the desire to be able to collect Bitcoins slowly and of course they do it consistently so they can enjoy the profits from what they do.

I agree with you on this mate, people who sold their Bitcoin because there was a drop in Bitcoin price and they could not get rich within the time frame they gave themselves on Bitcoin will regret their actions now because Bitcoin has increased in price in the past few days. That is why it is always good to have a good understanding of Bitcoin so that you will know that Bitcoin is not a get-rich-quick scheme so that whenever you are ready to invest in Bitcoin you will know you are in for a long term hodl before the real profit will come. The knowledge you gain in Bitcoin will guide you to adopt a DCA strategy in accumulating your Bitcoin, and will also protect you from the volatility part of Bitcoin.

We can witness many times in history that bitcoin ends up going into a kind of punishment mode, so those folks trying to trade it or even wait for the dip are continuously waiting, and maybe even those persons who are shorting are continuously getting reckt because they keep betting on BTC to go down and then it continues to go up.. and sure, we don't have any guarantees that bitcoin will continue to go up from here, but it is not unheard of that bitcoin does end up going into punishment mode.


Ultimately the thrust of Ruttoshi's question (or the point that he is making) does seem difficult to answer because he points out that he has a kind of plan to cut back on some of his DCA amount based on the BTC price going up so much in such a short period of time (which may or may not end up being a great idea because we cannot necessarily have high levels of confidence that the BTC price is going to correct back down from here).  And sometimes if someone fairly new to bitcoin is getting into bitcoin, they might well just be better off to just continue buying and trying NOT to predict whether the price is going to go up or down..
 and they may well just be better off continuing to buy more BTC, even if they have to pay more for it now as compared to the last 18 months of relatively discounted prices.  

Maybe the correct answer has to do when they started buying BTC and how much they had been buying... if someone comes into bitcoin and had been buying quite aggressively over the last 18 months maybe they could rest on their laurels (how much they bought already), but Ruttoshi seemed to have been saying that he just started buying at $25k, which might even assume that he has not really been buying for much longer than 6 months.. so yeah, it seems to be unclear if he would have had even been able to accumulate even close to enough BTC in such a short period of time through simple DCA based on cashflow, but if he had some circumstances in which he had reallocated some funds from some other decently sized investment portfolio, then maybe he would be in a better position to cut back some of his DCA amounts.. and yet ultimately there is no real easy answer without really knowing more of the underlying individual factors.


That is a pretty BIG assumption.   There are all kinds of ways that individuals pass through their journey to get to bitcoin, and a decent number of them either have not arrived or do not arrive because they end up getting too distracted and/or sucked into shitcoins.  


I doubt that it is necessary to buy shitcoins.. and probably not a good idea.. and even if it might be an o.k. idea, we are in a bitcoin thread, so we are generally not talking about shitcoins, except maybe to bash them, here and there along the way.


As long as we are talking about bitcoin rather than shitcoins, I agree with you.

But I was sure that nobody buys crypto without having Bitcoin first because if that is so, then I would say it is a big mistake. While seeing the current situation of Bitcoin, we can also think that bull season is coming soon and before it comes, we must be sure that we are already filling our bags with Bitcoin and some potential altcoins. Those people knowns how to hold and wait for the bull season got their rewards which is why we should practice doing this otherwise, regrets it.

I agree with you on this so because having such laying around money to buy Bitcoin with will give us the best chances to take advantage of Bitcoin's short-term price movements in uptrend directions just like in the current Bitcoin market movement behaviour, taking chances to grab some few Bitcoin when the market present us with the discount price is one of the best DCA mechanisms that helped many Bitcoin investors to be able to lay they hands on some Bitcoin within a short period if they do follow the right principles by setting aside a steady cash flow that put them in the position to always take advantage of the Bitcoin market at all time.

The current bitcoin price outcome is not something that is not familiar to us,  and in fact, most of the bitcoin investors who have spent at least a year in the market would already have experienced this and learned how to approach the current bitcoin market value to take the right advantages using their previous plans and engagements.

The rise is always a pretty sight if you have Bitcoin in your portfolio but if you don't have BTC in your portfolio then the rise that occurs will not mean anything to you. Previously we have seen the price of BTC drop quite significantly where the price of btc touched $15k. And what you saw today where bitcoin crossed $30k and reached $35k today.

So in this thread we just buy and hold which is what we have been doing from before. DCA was our choice and we also thank JJG because he is always our mentor in this forum where he always provides sensible advice in discussions in this thread. We will continue to hold and buy with the DCA strategy.

This is one of things I like about Bitcoin it can surprise you overnight just like what the price did this week, this is actually the reason why it is advised to keep accumulating for long time holding instead of chasing the Bitcoin price, so just like you said those short holders who buys and sell immediately after seeing a little move on Bitcoin price, I believe they will seriously be regretting why didn't hold.

So perhaps they have learned there lesson about Bitcoin price movement and is not actually late to change your strategy by holding instead of chasing the price.

Yes, that is what he is telling there. It's interesting but it's true that Bitcoin can make someone obsessed with it. I've seen threads like that here in the forum. It was only a bad thing because it is not different from being addicted on to some other thing/s. This might be one of the disadvantages caused by investing (not only limited to BTC) so we shouldn't worry.

I understand on why people are being greedy with it, it is because the more asset they have the more money they can get once they sell it at its peak price. We should start to set limits. Not only that it can cut the risk but it can also help our mental health stable and free from issues.

That is Bitcoin for you... always pulling surprises. The only people in panic mode are short term traders who would have sold since.

During the time of dip, there are those that bought around $26k - $29k, by now the short term traders would have sold around $30k to $33k and have their money in stable coin. If Bitcoin continues this move, I can only imagine the level of pain they will feel seeing that they sold too early. Whereas those holding for long are happily riding the wave and waiting for the real bull run to start.

No matter how we twist it, long term investment in Bitcoin is the sure way to maximize the opportunities of Bitcoin.