OK, but if we plebs buy Bitcoin NOW, and the recession does come and crashes all the markets, crashes the job market, crashes banks, depletes our savings, then I believe for most of us we will be forced to sell our Bitcoins at a discount.
Yeah you have a point but perhaps in most cases economic recession doesn't crash all the market but instead it could only reduce employment rate and money circulation but as someone who has save a huge amount of money, I don't think diversifying some of your funds to Bitcoin will affect you but perhaps you can divide the money into three places and use one part to accumulate Bitcoin and use the second part for future needs and the remaining for the daily needs, so with this method I see no reason why someone can easily be affected as such leading to selling off your accumulated Bitcoin on discount prices, I don't think diversifying investment to Bitcoin means we should put all our savings on accumulating Bitcoin without a savings that could sustain us through out the recession period. 
Topic: Buy the DIP, and HODL! - page 391. (Read 108336 times)
OK, but if we plebs buy Bitcoin NOW, and the recession does come and crashes all the markets, crashes the job market, crashes banks, depletes our savings, then I believe for most of us we will be forced to sell our Bitcoins at a discount. It's true especially to those people who have families to support/mouths to feed.
Perhaps many of us are hesitant to admit it, but the money printer and the government spending were probably the main catalysts of 2020's surge.
Remember that covid19 that destroy global economy, sent several businesses to oblivion yet Bitcoin prevailed. I have gotten to the point where I see Bitcoin as a safe haven in a world of uncertainty. Coming years will really be exciting for Bitcoin and those of us who are fortunate to embrace it early.
Is there really a way to use news to predict the price of Bitcoin? Have you tried it before and predicted it correctly through the news? Well, it is obvious you are suggestion panic buying and probably selling too as you will not hesitate to sell when the news does not seem favorable. In all honesty, this is akin to gambling!
Unfortunately, looking at the news to be able to predict Bitcoin price is not really necessary because, by the caption of this thread, we are buying and holding for long. Therefore, our main focus is how to accumulate as many Bitcoin as we can possibly get while being able to hold for long without being compelled to sell haphazardly.
Absolutely not, there is no way to correctly predict Bitcoin price overtime. While news items and technical analysis can provide into market sentiment, but they are far from fool proof. Technical analysis is not a perfect science, it is science of probability that relies on historical trends and patterns, which may not necessarily repeat in future.
The most effective and widely recognized strategy is to accumulate Bitcoin by employing DCA , as frequently discussed here. Additionally opportunistic purchasing during significant dips can further lower average cost of investment.
Yes, you are both correct, and that is the other reason why more people are beginning to accumulate more BTC. Everyone wants the price of Bitcoin to skyrocket in the due season. We are just in the month of October and sooner the time for the bullrun will arrive.
Usually bulls appear after 4-5 months of halving. We might not observe much negative until the halving but that doesn't indicate that a bull rally starts within one or two month. We still have few month to accumulate so it will be wise to use this time to accumulate more btc.
It's a comfort for me when I don't think too much about the current price. Because my goal is not the next week or month, but a long term that does not know when I will achieve my long-term goals.
Most investors long term investments ended between bitcoin's previous ATH and the new ATH. Long term words should be used correctly. Holding something for 5 to 10 years can be considered long term. Those who have been holding bitcoin since 2016 or before that are long term holders.
Is there really a way to use news to predict the price of Bitcoin? Have you tried it before and predicted it correctly through the news? Well, it is obvious you are suggestion panic buying and probably selling too as you will not hesitate to sell when the news does not seem favorable. In all honesty, this is akin to gambling!
Unfortunately, looking at the news to be able to predict Bitcoin price is not really necessary because, by the caption of this thread, we are buying and holding for long. Therefore, our main focus is how to accumulate as many Bitcoin as we can possibly get while being able to hold for long without being compelled to sell haphazardly.
Absolutely not, there is no way to correctly predict Bitcoin price overtime. While news items and technical analysis can provide into market sentiment, but they are far from fool proof. Technical analysis is not a perfect science, it is science of probability that relies on historical trends and patterns, which may not necessarily repeat in future.
The most effective and widely recognized strategy is to accumulate Bitcoin by employing DCA , as frequently discussed here. Additionally opportunistic purchasing during significant dips can further lower average cost of investment.
Accumulating bitcoin with DCA is our goal to be able to benefit when bitcoin shoots back up to reach its previous ATH or even exceed it.
It's a comfort for me when I don't think too much about the current price. Because my goal is not the next week or month, but a long term that does not know when I will achieve my long-term goals.
Nobody knows if the price of bitcoin will go fown again. It may or may not as it is hard to predict bitcoin price movement.
It is well-recognized fact that predicting the future price of bitcoin is difficult. But historically speaking, October seems to be a month when the price of a bitcoin tends to rise a little more than in previous months. It's possible that we'll witness the green candlelight of bitcoin in the month of October. At the very least, it won't be a terrible idea to anticipate that the price of bitcoin will increase in October compared to other months.King daddy gives no shits about months... so maybe it will go up and maybe it won't.
With rumors circulating that btc managed to close the month of September positively and will experience a rapid increase, this is a good opportunity so don't be wrong in predicting it or wrong with the rumors circulating about btc, not many people take advantage of this moment to make a profit.
This is where the distinction of a Bitcoin holder is reflected. Those who are worried about the temporary rise and fall of the price of Bitcoin must need to acquire better knowledge of Bitcoin holding.
Since we plan to be hodlers, the price of bitcoin shouldn't be our priority, rather how we can use the DCA method to accumulate continuously, disregard of bitcoin price. What we should be thinking is to make strategies that will be flexible for us to accumulate at different level of bitcoin price so that you don't stop DCAing, since you haven't acquired the amount of bitcoin that you desire for. Bitcoin price is still at the consolidation price, and one need to use this opportunity widely to keep on accumulating and not to start thinking of little profit because the halving is close or something.
Also, if anyone is waiting for the dip because of recession, you shouldn't also forget that the more you are piling up your fiat currency and preparing for the dips, you should know that your fiat currency is depreciating with time, and you don't know when it the dip will come and for how long that you are going to wait. I will continue with my DCA strategy because I haven't reached my bitcoin target and don't need to sell any of my bitcoin during the bull run.
Nobody knows if the price of bitcoin will go fown again. It may or may not as it is hard to predict bitcoin price movement.
It is well-recognized fact that predicting the future price of bitcoin is difficult. But historically speaking, October seems to be a month when the price of a bitcoin tends to rise a little more than in previous months. It's possible that we'll witness the green candlelight of bitcoin in the month of October. At the very least, it won't be a terrible idea to anticipate that the price of bitcoin will increase in October compared to other months.King daddy gives no shits about months... so maybe it will go up and maybe it won't.
With rumors circulating that btc managed to close the month of September positively and will experience a rapid increase, this is a good opportunity so don't be wrong in predicting it or wrong with the rumors circulating about btc, not many people take advantage of this moment to make a profit.
This is where the distinction of a Bitcoin holder is reflected. Those who are worried about the temporary rise and fall of the price of Bitcoin must need to acquire better knowledge of Bitcoin holding.
I want to be cautious and not sound too hopeful, it is worth mentioning that we are only 8 months away from halving event,
If I use my fingers to count, then from now until the mid-to-end of April, I get 6.5 months.
7 months at the most.
Not 8 months - even though anything can happen in the next 6-8 months.. but based on our almost being there, I really doubt 8 months.
In order to get 8 months, a lot of hashpower would have to be taken off-line and maybe even consistently.. and after every difficulty adjustment to continue to remove hashpower... seems that mining just is not that centralized, even though people sometimes FUD about various aspects of control over mining and also ability to mine.. .but if the hashing power and difficulty gets cut in half from here.. there likely would be previously inefficient miners coming online. .and, yeah we could say that the BTC price might have to drop as well (and electricity go up) in order to ongoingly disincentivize currently inefficient miners from coming online when the difficulty continues to spiral down.. in such a scenario..
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I was merely making a point that we should ask, "who's lying" or who got it wrong? The market? Or the fundamentals? Although everything in my mind wants Bitcoin to surge to $50,000, logically, it says that because of the tightening and the restrictive monetary policies, there might be a recession coming. I don't expect Bitcoin to surge during a recession when people have no jobs and no savings. ¯\_(ツ)_/¯
Define "surge." What if bitcoin does not go down as much as some other assets?
You seem to be ongoingly committing the same error as a lot of people who do not seem to either understand bitcoin or to be able to look at the charts.
In other words, even if we don't know exactly what bitcoin is going to do in various scenarios, we should not be presuming bitcoin to be correlated to traditional assets or to macro factors that attempt to manipulate the market..
Another thing is that even though UPpity is always a possibility and a probability, we should not be basing our finances and psychology on that, while at the same time we should continue to prepare for BTC prices to go in either direction, which means that you better not be disappointed when you end up holding onto more fiat than you wished that you had held merely based on your considerations of various downity scenarios for the BTC price that might not end up playing out. just because a lot of smart people are talking about those various doom and gloom scenarios.
[edited out]
They're not entirely commentaries, those are questions. I'm merely asking for your and everyone's opinions. I don't want to hear another "who the hell knows"? This is not about "when to buy or what price to buy". I just want a discussion, it doesn't matter if we agree or disagree, but we can still learn from each other.Yeah.. but part of the discussion and the likely correct answers in terms of personal preparations should be to set yourself up for either price direction, which means that we don't really know with any kind of certainty, and we never did.. and that is why we should be trying to set ourselves up for either price direction.. whether you want to hear it or not.
Don't get me wrong.. we have already seen historically that you can get rich as fuck by merely setting some value aside and putting it into bitcoin (which is preparations for UP), and the UP might not even need to be very large in order for you to profit, and the same is likely going to continue to be true - even though there are no guarantees of anything, so part of my own ongoing message remains to consider to continue to stack your sats so that you are ongoingly prepared for UP, whether it is going to happen for sure or not, and at the same time you can have some value on the side to buy in case BTC dips, but that does not mean that you should not ONGOINGLY be buying, unless you already happen to have had reached your accumulation goal.. which does not seem to be the case with you, Wind_FURY..... You seem to be largely just getting greedy and expecting BTC prices to go down further in order that you can accumulate an additional 0.000349451 BTC.. which is likely a BIG so fucking what, especially if the BTC price goes up rather than down and then you do not accumulate any BTC merely because you thought that you might be able to get more and you were wanting people to agree with your decision.
And, even if you end up being correct in terms of the BTC price going down before up or getting caught in some further stagnation, it still does not mean that you or anyone else should be fucking around with trying to get lower BTC prices when we are still below the 200-week moving average (which is currently right below $28k).
But hey, whatever, you do what you like in terms of your ongoingly wanting to likely overly prepare ur lil selfie for DOWNity scenarios and put a lot of weight on that.. and then whether they happen or not, you are likely largely gambling with such a tactic.. because I doubt that DOWNity is as clear as you are making it out to be or the other various macro pundits.. but whatever, you do you.
I was merely making a point that we should ask, "who's lying" or who got it wrong? The market? Or the fundamentals? Although everything in my mind wants Bitcoin to surge to $50,000, logically, it says that because of the tightening and the restrictive monetary policies, there might be a recession coming. I don't expect Bitcoin to surge during a recession when people have no jobs and no savings.
The truth is that everyone wants Bitcoin to skyrocket immediately to see there accumulated Bitcoin growing, however even without being told, in time to come Bitcoin will surely moon but Perhaps if you no a time of Economic recession is coming which we no there could be a serious hardship, lack of money and lack of work, perhaps you could actually utilize the opportunity now while you can by channeling most of your reserve funds on accumulating more Bitcoin because while waiting to no or be sure of the economic recession you could be affected were as Bitcoin price would have gone way up beyond your planning entry point. As an investor we shouldn't wait to see the impacts of economic recession before diversifying to avoid wrong entry. Wind_FURY does not believe in buying now, and he would prefer to wait.. and that's his choice.. because he does not really believe in DCA, especially if he thinks that he might be able to get a wee bit more BTC if he were to wait.. .. so he likes to gamble, even though he believes that he is not really gambling because he thinks that the odds are in his favor merely because a lot of smart macro pundits are saying the same thing about recession in 2024 blah blah blah.
So Wind_FURY wants us to agree with his decision to gamble and his decision to wait for further DOWNity. that may or may not end up happening... and actually seem doubtful to be happening.. but we still can be prepared of the downity to happen, while at the same time consistently and ongoingly stacking sats, but Wind_FURY does not want to do that because he has already got it into his head that there is going to be further down. even if at the same time, he doesn't really know that's why he is asking for us to agree with him, and his wait for the recession approach.
Most likely king daddy gives less than two shits about any recession... but we have not really seen bitcoin's price performance in such a potentially ongoingly negative macro performance scenario.
Nobody knows if the price of bitcoin will go fown again. It may or may not as it is hard to predict bitcoin price movement.
It is well-recognized fact that predicting the future price of bitcoin is difficult. But historically speaking, October seems to be a month when the price of a bitcoin tends to rise a little more than in previous months. It's possible that we'll witness the green candlelight of bitcoin in the month of October. At the very least, it won't be a terrible idea to anticipate that the price of bitcoin will increase in October compared to other months.With rumors circulating that btc managed to close the month of September positively and will experience a rapid increase, this is a good opportunity so don't be wrong in predicting it or wrong with the rumors circulating about btc, not many people take advantage of this moment to make a profit.
You are speaking a bit vaguely and like a trader and a gambler junder.
We are not talking about trading and/or gambling in this thread, even though surely part of the thread does relate to trying to figure out when there are dips in order to be able to buy on the dip, which is also part of the reason that so many of the participants in this thread seem to have had resorted to ongoingly DCA while not really knowing how to figure out how much of a dip there is going to be, but if they (we) are ongoingly accumulating BTC in these price areas, then in the longer term we are likely going to be setting ourselves up to be in a good position and with more options.. rather than merely considering whether there might be short term profits in October.. .. even at the same time, UPward price moves can be helpful psychologically, even if we are not selling right away because we are likely able to see signs that we are on the right path in terms of both ongoingly HODLing BTC but also in terms of our spending quite a bit of time in accumulating BTC.
You have been a member of the forum for quite a long time @junder (since April 2015), so even if you had been investing a low amount of value (such as $10 per week) into bitcoin, you would have had the potential to have had been in a very good position by now.. more than 8 years after registering on the forum...which would be about $4,400 invested into BTC and nearly 2.81 BTC accumulated.
So if you did not start to DCAing into BTC in 2015, then you might have started to invest into bitcoin at a later date, and if you have not figured out the value and power of DCA (and or the ongoing buying of BTC and HODLing it), then maybe you better rethink your approach to BTC and your ways of talking about BTC in terms of short term profits..
But hey, whatever, I don't know enough about you, but I can look at your timeline in terms of your registration on the forum and use the charts to project out what a modest DCA into BTC strategy might have done for your finances and perhaps psychology overall if you had been ongoingly accumulating BTC during that time.. and surely there are no real signs that an ongoing accumulation of BTC is not going to continue to be a decently good plan, even if we might not know the future exactly, so if you have not gotten started in DCA and/or ongoingly accumulating BTC, then maybe you better get started sooner rather than later, and stop wasting so much time and energies thinking about short term profits.
I was merely making a point that we should ask, "who's lying" or who got it wrong? The market? Or the fundamentals? Although everything in my mind wants Bitcoin to surge to $50,000, logically, it says that because of the tightening and the restrictive monetary policies, there might be a recession coming. I don't expect Bitcoin to surge during a recession when people have no jobs and no savings.
The truth is that everyone wants Bitcoin to skyrocket immediately to see there accumulated Bitcoin growing, however even without being told, in time to come Bitcoin will surely moon. but Perhaps if you no a time of Economic recession is coming which we no there could be a serious hardship, lack of money and lack of work, perhaps you could actually utilize the opportunity now while you can by channeling most of your reserve funds on accumulating more Bitcoin because while waiting to no or be sure of the economic recession you could be affected were as Bitcoin price would have gone way up beyond your planning entry point.
As an investor we shouldn't wait to see the impacts of economic recession before diversifying to avoid wrong entry.
Perhaps many of us are hesitant to admit it, but the money printer and the government spending were probably the main catalysts of 2020's surge.
Fair enough. Save some of your dollars for the possible crash then. No one is suggesting to be buying BTC from what should be your emergency fund. So if you do not have enough money in your emergency fund to buy now, then you better wait it out... I don't have any objections to that kind of a motivation.
You never want to put yourself into a situation in which you have to be selling your BTC at a price that is other than your complete choice.. and likely better to be selling BTC on the way up rather than down.. but if you already reached fuck you status with your BTC then you just sell some BTC whenever you need some additional money as compared to the person who is still in BTC accumulation stages, should not be overly buying if s/he does not have enough certainty in his/her cashflow/expensens and emergency angles to all of that.
Yes, you are both correct, and that is the other reason why more people are beginning to accumulate more BTC. Everyone wants the price of Bitcoin to skyrocket in the due season. We are just in the month of October and sooner the time for the bullrun will arrive.
Yes, it's true that the economy in some localities is not friendly towards its citizens and I see that it is enough reason for investors and those who are not yet an investor to take part in the investment and keep accumulating until the bullish time. Now is the best time for anyone to join the BTC before it's going to be late. Even if the capital is not enough, they should still start with the little that they have.
Yes, it's true that the economy in some localities is not friendly towards its citizens and I see that it is enough reason for investors and those who are not yet an investor to take part in the investment and keep accumulating until the bullish time. Now is the best time for anyone to join the BTC before it's going to be late. Even if the capital is not enough, they should still start with the little that they have.
If you are accumulating BTC for the long term, then you should not be giving too many shits about short term UPpity price movements, except that it confirms your investment into BTC, but if you are not ready to sell yet, then there remains quite a bit of value in just continuing to accumulate BTC and not getting concerned about whether a bull run is coming soon or not.
Is there really a way to use news to predict the price of Bitcoin? Have you tried it before and predicted it correctly through the news? Well, it is obvious you are suggestion panic buying and probably selling too as you will not hesitate to sell when the news does not seem favorable. In all honesty, this is akin to gambling!
Unfortunately, looking at the news to be able to predict Bitcoin price is not really necessary because, by the caption of this thread, we are buying and holding for long. Therefore, our main focus is how to accumulate as many Bitcoin as we can possibly get while being able to hold for long without being compelled to sell haphazardly.
Absolutely not, there is no way to correctly predict Bitcoin price overtime. While news items and technical analysis can provide into market sentiment, but they are far from fool proof. Technical analysis is not a perfect science, it is science of probability that relies on historical trends and patterns, which may not necessarily repeat in future.
The most effective and widely recognized strategy is to accumulate Bitcoin by employing DCA , as frequently discussed here. Additionally opportunistic purchasing during significant dips can further lower average cost of investment.
I was merely making a point that we should ask, "who's lying" or who got it wrong? The market? Or the fundamentals? Although everything in my mind wants Bitcoin to surge to $50,000, logically, it says that because of the tightening and the restrictive monetary policies, there might be a recession coming. I don't expect Bitcoin to surge during a recession when people have no jobs and no savings.
The truth is that everyone wants Bitcoin to skyrocket immediately to see there accumulated Bitcoin growing, however even without being told, in time to come Bitcoin will surely moon but Perhaps if you no a time of Economic recession is coming which we no there could be a serious hardship, lack of money and lack of work, perhaps you could actually utilize the opportunity now while you can by channeling most of your reserve funds on accumulating more Bitcoin because while waiting to no or be sure of the economic recession you could be affected were as Bitcoin price would have gone way up beyond your planning entry point. As an investor we shouldn't wait to see the impacts of economic recession before diversifying to avoid wrong entry. Yes, it's true that the economy in some localities is not friendly towards its citizens and I see that it is enough reason for investors and those who are not yet an investor to take part in the investment and keep accumulating until the bullish time. Now is the best time for anyone to join the BTC before it's going to be late. Even if the capital is not enough, they should still start with the little that they have.
I was merely making a point that we should ask, "who's lying" or who got it wrong? The market? Or the fundamentals? Although everything in my mind wants Bitcoin to surge to $50,000, logically, it says that because of the tightening and the restrictive monetary policies, there might be a recession coming. I don't expect Bitcoin to surge during a recession when people have no jobs and no savings.
The truth is that everyone wants Bitcoin to skyrocket immediately to see there accumulated Bitcoin growing, however even without being told, in time to come Bitcoin will surely moon.
but Perhaps if you no a time of Economic recession is coming which we no there could be a serious hardship, lack of money and lack of work, perhaps you could actually utilize the opportunity now while you can by channeling most of your reserve funds on accumulating more Bitcoin because while waiting to no or be sure of the economic recession you could be affected were as Bitcoin price would have gone way up beyond your planning entry point.
As an investor we shouldn't wait to see the impacts of economic recession before diversifying to avoid wrong entry.
OK, but if we plebs buy Bitcoin NOW, and the recession does come and crashes all the markets, crashes the job market, crashes banks, depletes our savings, then I believe for most of us we will be forced to sell our Bitcoins at a discount. It's true especially to those people who have families to support/mouths to feed.
Perhaps many of us are hesitant to admit it, but the money printer and the government spending were probably the main catalysts of 2020's surge.
It is well-recognized fact that predicting the future price of bitcoin is difficult. But historically speaking, October seems to be a month when the price of a bitcoin tends to rise a little more than in previous months.
To me I don't think there would be any much Bitcoin price movement in these October, one of the things you should understand is that the possibility of Bitcoin repeating a price movement on a particular month is not certain and perhaps if you check very closely you will see that during the times Bitcoin price use to repeat uptrend on the Month of October are mostly when the halving are still in some years ahead so if there was supposed to be any drastic price movement it would have done it earlier before now, so the Bitcoin price has been on a consolidation for sometime now and since we are in the last quarter of the year there is a likelihood that Bitcoin price will still maintain those levels till the halving take place then you can expect Bitcoin price to surpass the ATH, so let's not allowed the psychology or speculation that Bitcoin price normally increase October affect our plans of accumulation. King daddy gives no shits about months... so maybe it will go up and maybe it won't.
up or down in the future no one knows, but if the rumors are true that there will be an increase then this is a good opportunity, not apart from that investors or traders must remain vigilant about the news about BTC that will rise or fall, being aware of the news about btc is certainly necessary so as not to predict it wrong.With rumors circulating that btc managed to close the month of September positively and will experience a rapid increase, this is a good opportunity so don't be wrong in predicting it or wrong with the rumors circulating about btc, not many people take advantage of this moment to make a profit.
Unfortunately, looking at the news to be able to predict Bitcoin price is not really necessary because, by the caption of this thread, we are buying and holding for long. Therefore, our main focus is how to accumulate as many Bitcoin as we can possibly get while being able to hold for long without being compelled to sell haphazardly.
Nobody knows if the price of bitcoin will go fown again. It may or may not as it is hard to predict bitcoin price movement.
It is well-recognized fact that predicting the future price of bitcoin is difficult. But historically speaking, October seems to be a month when the price of a bitcoin tends to rise a little more than in previous months. It's possible that we'll witness the green candlelight of bitcoin in the month of October. At the very least, it won't be a terrible idea to anticipate that the price of bitcoin will increase in October compared to other months.King daddy gives no shits about months... so maybe it will go up and maybe it won't.
With rumors circulating that btc managed to close the month of September positively and will experience a rapid increase, this is a good opportunity so don't be wrong in predicting it or wrong with the rumors circulating about btc, not many people take advantage of this moment to make a profit.
I was merely making a point that we should ask, "who's lying" or who got it wrong? The market? Or the fundamentals? Although everything in my mind wants Bitcoin to surge to $50,000, logically, it says that because of the tightening and the restrictive monetary policies, there might be a recession coming. I don't expect Bitcoin to surge during a recession when people have no jobs and no savings.
The truth is that everyone wants Bitcoin to skyrocket immediately to see there accumulated Bitcoin growing, however even without being told, in time to come Bitcoin will surely moon but Perhaps if you no a time of Economic recession is coming which we no there could be a serious hardship, lack of money and lack of work, perhaps you could actually utilize the opportunity now while you can by channeling most of your reserve funds on accumulating more Bitcoin because while waiting to no or be sure of the economic recession you could be affected were as Bitcoin price would have gone way up beyond your planning entry point. As an investor we shouldn't wait to see the impacts of economic recession before diversifying to avoid wrong entry. If you are not sure about it, then start with buying $10 per week of bitcoin and get your shit together, figure out your finances and your psychology and if you got it mostly figured out
I know it is as too small to begin But this is me that you mentioned mate, Yeah I started purchasing 10 dollars worth of Bitcoin back in mid of 2017 , and added a increasing amount each week.but with wrong decisions in life, I got involved in gambling and ending losing all my investments in 2018 and yes , I truly regret those decisions.
But from there of mistake ,Now I can proudly say that I can feel the success in the net bull run.
I started out with $10 per week as an example because a lot of people can probably do $10 a week without even having to know very much about their own finances... and sure there are some members who either hardly have any income or they are living in a very low income location (or they might be a student), so even $10 per week might be a struggle for them, so they have to tailor to their own situation, even though $10 per week could still serve as kind of a aspirational starting point..
I am not really against the idea of having a separate gambling fund, but yeah, sure one of the problems with the gambling mentality tends to be inabilities to control yourself from tapping into funds that should be kept separately.. and then your little build up of weekly bitcoin DCA ends up getting used a a "temporary measure" blah blah blah.. but then pretty soon you lost all of the funds that you had built up.
I wouldn't call it a "gambling fund", but the farther away Bitcoin goes from the "discount phase" it's probably better to start lowering the DCA bids, and save that money in a "buy at discount fund". I don't know why I'm not as euphoric as everyone else with the current price movement, because in the current macro-economic environment, we're at high interest rates and under a tight monetary policy which may not change soon. Does everyone actually believe Bitcoin will never go down again?
BUT I read this blog, https://willowdaleequity.com/blog/what-assets-do-well-in-stagflation/
In a Staflationary environment, it's probably the best decision to buy more Bitcoin?
Nobody knows if the price of bitcoin will go fown again. It may or may not as it is hard to predict bitcoin price movement. The price is still at the good side to continue with DCAing as we are still expecting bitcoin price to pump, since this is the last quarter of the year and there will be bitcoin jalving by next year April.
I was merely making a point that we should ask, "who's lying" or who got it wrong? The market? Or the fundamentals? Although everything in my mind wants Bitcoin to surge to $50,000, logically, it says that because of the tightening and the restrictive monetary policies, there might be a recession coming. I don't expect Bitcoin to surge during a recession when people have no jobs and no savings.
¯\_(ツ)_/¯
If you are not sure about it, then start with buying $10 per week of bitcoin and get your shit together, figure out your finances and your psychology and if you got it mostly figured out
I know it is as too small to begin But this is me that you mentioned mate, Yeah I started purchasing 10 dollars worth of Bitcoin back in mid of 2017 , and added a increasing amount each week.but with wrong decisions in life, I got involved in gambling and ending losing all my investments in 2018 and yes , I truly regret those decisions.
But from there of mistake ,Now I can proudly say that I can feel the success in the net bull run.
I am not really against the idea of having a separate gambling fund, but yeah, sure one of the problems with the gambling mentality tends to be inabilities to control yourself from tapping into funds that should be kept separately.. and then your little build up of weekly bitcoin DCA ends up getting used a a "temporary measure" blah blah blah.. but then pretty soon you lost all of the funds that you had built up.
I wouldn't call it a "gambling fund", but the farther away Bitcoin goes from the "discount phase" it's probably better to start lowering the DCA bids, and save that money in a "buy at discount fund". I don't know why I'm not as euphoric as everyone else with the current price movement, because in the current macro-economic environment, we're at high interest rates and under a tight monetary policy which may not change soon. Does everyone actually believe Bitcoin will never go down again?
BUT I read this blog, https://willowdaleequity.com/blog/what-assets-do-well-in-stagflation/
In a Staflationary environment, it's probably the best decision to buy more Bitcoin?
You surely seem to be going in both directions with your commentary,
They're not entirely commentaries, those are questions. I'm merely asking for your and everyone's opinions. I don't want to hear another "who the hell knows"? This is not about "when to buy or what price to buy". I just want a discussion, it doesn't matter if we agree or disagree, but we can still learn from each other.
Yeah the price has been dormant abit interms of movement, not going up or down and like you said it maybe because the halving is close by so that's why the price is stagnant. Many people out don't actually know this logic that's follows the price spike after the halving because I have a friend who actually feels the price movement will follow up by the end of this year and then expecting a bull next year and I have been trying to clear him about this notion of his but as nothing is sure in the price prediction I thought I would jus leave him to speculate ad his likes because bitcoin market is all base on speculation although past history have proven this logic about the price movement always after the halving.
Your observation is valid that Bitcoin market has experienced prolonged period of stagnation during past months, trading volumes were lower in particularly during the month of September. However, now we are in Uptober
(October) traditionally considered bullish month for Bitcoin that has shown promise in the early days of this month when price surged by more than $2000 in a single day. I want to be cautious and not sound too hopeful, it is worth mentioning that we are only 8 months away from halving event, moreover, most of market experts are predicting issuance of Bitcoin spot ETF in the 1st quarter of 2024, a major step forward towards Bitcoin adoption. All these developments suggest that we are entering into initial stage of next bull cycle.
If you look at the above table you would see that October seems more of a bullish start or beginning for Bitcoin in the years past. Hopefully I think we are already in the bull circle with other spiking activities as a trigger for more hike in Bitcoin price come next year halving.
Source to table
It is well-recognized fact that predicting the future price of bitcoin is difficult. But historically speaking, October seems to be a month when the price of a bitcoin tends to rise a little more than in previous months.
To me I don't think there would be any much Bitcoin price movement in these October, one of the things you should understand is that the possibility of Bitcoin repeating a price movement on a particular month is not certain and perhaps if you check very closely you will see that during the times Bitcoin price use to repeat uptrend on the Month of October are mostly when the halving are still in some years ahead so if there was supposed to be any drastic price movement it would have done it earlier before now, so the Bitcoin price has been on a consolidation for sometime now and since we are in the last quarter of the year there is a likelihood that Bitcoin price will still maintain those levels till the halving take place then you can expect Bitcoin price to surpass the ATH, so let's not allowed the psychology or speculation that Bitcoin price normally increase October affect our plans of accumulation. Yeah the price has been dormant abit interms of movement, not going up or down and like you said it maybe because the halving is close by so that's why the price is stagnant. Many people out don't actually know this logic that's follows the price spike after the halving because I have a friend who actually feels the price movement will follow up by the end of this year and then expecting a bull next year and I have been trying to clear him about this notion of his but as nothing is sure in the price prediction I thought I would jus leave him to speculate ad his likes because bitcoin market is all base on speculation although past history have proven this logic about the price movement always after the halving.
Your observation is valid that Bitcoin market has experienced prolonged period of stagnation during past months, trading volumes were lower in particularly during the month of September. However, now we are in Uptober
(October) traditionally considered bullish month for Bitcoin that has shown promise in the early days of this month when price surged by more than $2000 in a single day. I want to be cautious and not sound too hopeful, it is worth mentioning that we are only 8 months away from halving event, moreover, most of market experts are predicting issuance of Bitcoin spot ETF in the 1st quarter of 2024, a major step forward towards Bitcoin adoption. All these developments suggest that we are entering into initial stage of next bull cycle.
Nobody knows if the price of bitcoin will go fown again. It may or may not as it is hard to predict bitcoin price movement.
It is well-recognized fact that predicting the future price of bitcoin is difficult. But historically speaking, October seems to be a month when the price of a bitcoin tends to rise a little more than in previous months. It's possible that we'll witness the green candlelight of bitcoin in the month of October. At the very least, it won't be a terrible idea to anticipate that the price of bitcoin will increase in October compared to other months.King daddy gives no shits about months... so maybe it will go up and maybe it won't.
Yeah you have a point but perhaps DCA strategy doesn't really mean accumulating every moment, you can also accumulate whenever you feel you have some funds to accumulate Bitcoin, you can still accumulate even when your salary is not enough perhaps let say you are earning a certain amount on a monthly basis it doesn't necessarily mean you should start accumulating immediately were as you no it will affect you at the moment, but perhaps if after the end of month you were able to save an amount that could last you more than a month perhaps you can use half of the current month salary to accumulate some Bitcoin were as you still have a good amount in your reserve account that could even sustain you more than a month, with this method even with your small monthly salary you can be accumulating ones in a while and before you no you have gotten a big portfolio, I had similar challenge like this when I started accumulating and this was the pattern I used to accumulate and it worked for me but now I have other business that's helping me to accumulate on a weekly basis now.
I think by having a reserve fund for a few months at least it won't be a concern because we can sustain on this fund.Cutting half of the monthly salary I think it will be quite heavy, but we conclude to cut 30% for bitcoin it is more than enough of your salary, the rest can be used for a month's needs in the 70% allocation - because if you force to cut half the salary without any reserve funds in the account then it will be complicated when you have an urgent need.
Unless we have other sources of income, then the DCA strategy can be done every week if you only rely on a monthly salary then accumulate as much as you can, don't force it to be an obstacle later.
Perhaps you can Also get into a trouble while using DCA method, one of things we most understand is that DCA doesn't guarantee a completely safety and minimize risk but is totally depends on the psychology or mindset of the investors because DCA is only but a strategy while the method of the utility depends on the investors however DCA strategy only work when the investors obey the rules were accumulating with a small funds which you no cannot affect your financial state and at the same time having a back up funds.
Also a DCA strategy tend to fail in your investment plan were as you over invest thinking you are using DCA strategy or investing with a strategy of selling off your investment to attend for some needs that arise.
Also a DCA strategy tend to fail in your investment plan were as you over invest thinking you are using DCA strategy or investing with a strategy of selling off your investment to attend for some needs that arise.
You are absolutely right in pointing out that Dollar Cost Averaging strategy serves to mitigate the impact of market volatility and minimize the risk associated with trying to time the market. However, we need to acknowledge that DCA is not a fool proof strategy and doesn't provide guarantee of profit in the long term. All financial markets are influenced by ever changing dynamics. The events of the past are not indicative of what will happen in the future.
In simple terms, the human appetite to make profit by making investment in risky asset is quite natural, and when it comes to Bitcoin it represents relatively a new class of asset with extremely high-level of volatility. This makes Bitcoin potentially a good choice for forks who can wait for long time and handle it when the market is not doing well, all in the hopes of making big profits later on.
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