Topic: Buy the DIP, and HODL! - page 400. (Read 108321 times)

Bitcoin may still be at this level at the end of this month. But it could change in the next months. If bitcoin price can lift the price to $30k, then it is good. But if not, we must HOLD on.

The price now seems not going anywhere, making the price difficult to predict. You need to be cautious with anything that will happen later.

It's true that there are only 7 days left until October, I think even though the tone of your suggestion seems a bit joking with Elon's participation in making something magical tweet about this, it will indeed trigger hype, but that's not guaranteed.

Well, I agree with DCA continuing as you suggest because this is an investment approach in buying BTC and another way of accumulating positions over time and mitigating risks due to market volatility that is uncertain in direction.


Maybe the above is straight forward, here is the explanation and what you said is "keep buying BTC and reassess where you are at 3-5 years from now" if I'm not mistaken in interpreting it, it also means continuing to make regular purchases without being too affected by long-term price fluctuations short and next step, evaluate the investment portfolio and ensure that the investment does not run away from the initial goal and is in accordance with long-term plans, especially now.
      

I think it is very difficult to see the price of bitcoin reaching $34,000 in the remainder of this month and even in the next month it is not certain that the price of bitcoin will reach above $30,000 if you look at current market conditions which seem likely to continue to experience a decline in prices. In conditions like today, it is better to set your goals, make a solid plan, maintain discipline, and utilize DCA as a way to gain interesting and dynamic exposure in a more controlled and insightful way. Stick to your plan, regardless of market conditions. Don't be tempted to skip investments or change your amounts if the market is unfavorable. The point is to remove emotion from investing.

I did not meant to rephrase things, but I got the point, we all made mistakes on we regret later but also learn from them too and by time we don't make those mistakes anymore, I don't know what mistakes you made that yours stash become half, but the suggestions you have made to me, emphasize the importance of emergency funds and you have always mentioned that, it means, you must be stuck in some that kind of emergency state. I'm just assuming. I hope you will not mind.

PS: I am actually quite late to reply, the problem is, my laptop was not working due to some exceptional errors and some blue screen issue. So, I have to use my old one and I just swapped the hard drives so I could access this account back. It is hard to read and make replies to you, that's why I thought I should wait for the laptop. I hope you won't mind late replying.

hehe, this laptop works directly, and during writing this reply, I mistakenly unplug the charger and end up losing the reply Which I wrote at first, Now I am writing it again. Unfortunately, the last reply was not saved. 

That's because when you must have started the price of BTC were lower and people must have set higher BTC targets just because they can really buy them easily, but in relative to that, it is quite hard to accumulate 100 BTC for a normal person. That's why people are now talking in satoshi, they know they can not deal in BTC terms that's why.

You emphasized the importance of wishes getting expand, I recently read a topic in economic section, where the OP was conveying the message that, one must not fulfill his wishes that are so unnecessary instead they should invest that fund. But I think, if a person have a wish to not buy something or waste money on unnecessary things instead he wish to invest more then I think he should not ignore that wish.   

I will be waiting for that link, either this thread is relevant or not, we can at least share the links I hope.

I meant to say "reevaluate," so that was a typo (or a freudian slip).... Oh?  I see that you did not paraphrase me properly.. here's what I said:  "keep buying BTC and reassess where you are at 3-5 years from now".. Reassess and revalue are not really great synonyms in the context in which I used the word, but yeah, reevaluate would work as another way of saying what I said.

Isn't it a silly question to ask what the BTC price is going to do in the short term.  Yes, it can do a lot of thing, but is it very likely or does it matter very much?  Sure, if some of us might still be accumulating BTC we might want to know if the BTC price is going to suddenly become more expensive, so we might end up front-loading our BTC accumulation or even engaging in some kind of leverage buying in order to front-load our BTC accumulation.. but it still seems risky to be fucking around with trying to figure out short term BTC price moves with any kinds of specifics.. and instead just establish BTC accumulation practices that we are happy in either direction that the BTC price might go in the short term.

Sure if we are fairly early in our BTC accumulation journey, then it is likeloy that we are going to have some motives for the BTC price to stay down as long as it can and even maybe to go lower while we continue to buy... and so when are the discounts going to stop and will we change our BTC accumulation strategies if BTC prices end up doing some kind of a step up in price and then end up being supra $34k or even into the $40ks.. or will we just buy at any price.. and the answers to these kinds of questions relate to where we are at in terms of our own BTC accumulation, and other individual factors regarding our cashflow and perhaps our investment timeline.


That is a dumb and whinny thread... yes short term DCA might not work out so well..

With DCA and even in such a volatile asset like bitcoin that sometimes has extended draw down periods, DCA could end up taking many years to really start to see your BTC holdings being in profits relative to the amoutn that you had invested.. sometimes even more than 10 years, even though in bitcoin 3-4 years or longer tends to have started to show profits, even during various points of the worst performance periods, and of course, there is no guarantee that history is going to repeat including that your bitcoin is going to get into profits, merely because history has shown that to be the case.  There are no guarantees even though, so far, historically, the longer that you had been DCA investing into bitcoin the more likely that you would have had ended up in positive results and sometimes even quite astonishingly positive results after a couple of cycles.

You can look at this website and see that 6 years of investing $100 per week into bitcoin would have gotten you around 2.12 BTC with $26k invested, and sure you can tweak the dates, and you may well not be profitable if you started less right around the time that the BTC was peaking in 2021.. so even 3 years ago is likely only barely getting you into the potential of profits with a DCA approach of $100 per week with around $15.7k invested and a little less than 0.57283 BTC accumulated, but it does not necessarily make DCA a bad or a wrong approach... as long as you are thinking longer term in your BTC investment.


Fair enough.  I know that the first several years investing into something like bitcoin might not have positive results, and people might end up making a lot of mistakes.. and in the end, you have to figure out your own situation in terms of your various psychological and financial circumstances, including how aggresive that you feel that you can be in terms of your bitcoin accumulation (if that's what you choose to do), and surely I have frequently mentioned that the assymetric nature of bitcoin does not even compel anyone to have to be aggressive in their bitcoin accumulation in order to get themselves into quite a comfortable place and to end up having more and more options down the road... even though at the same time, BTC accumulators sometimes will have regrets in regards to their having had not been as aggressive as they could have been.. and maybe they don't even necessarily see the pay off until several years down the road... depending on when they got started and also how consistent they might have been in terms of either regular DCA buying or some other variation of buying that might have allowed them to perform at least as well as a strict DCA approach.  

I think that there are examples that go in both directions in terms of whether some other approach might have ended up beating a strict DCA approach if we start to look back 4-12 years or so.. .and yeah, maybe it is not even realistic to try to look back much further that 10 years back since, there were not as many ways to buy BTC back before 2013.. especially for normies, even though there were some ways to do it that required more and more efforts to figure out or to be in the right place geographically..

And, even now, it is not even necessarily easy for people to get onto (into) bitcoin in all parts of the world. Some places are going to take a whole hell of a lot of effort to figure out how to buy bitcoin. .and then if successful in figuring out how to buy it, then there are probably more ways to figure out to store it, but even storage is not easy in all parts of the world in terms of trying to figure out ways to lessen exposure to third-party custodians.

So sometimes screw ups can come from bad information and/or bad ways of getting bitcoin and then maybe getting confused by how you should store your bitcoin if you do end up figuring out how to get it.


As I already stated, I don't consider sentiments to be a very good thing to attempt to figure out what to do and/or how to attempt to maximize the amount of bitcoin that you are able to accumulate without getting mislead into some baloney mumbo-jumbo that may or may not be correct... so you may well not end up accumulating more BTC because you end up getting your measures of sentiment (or whatever people are telling you about sentiment) wrong.

Fuck sentiment.  It is not that helpful, even if you believe that it is.. and even if you want to strategize your BTC accumulation approach what you believe sentiment to be.
 

I doubt that we are in a great "golden opportunity" for accumulation based on sentiment, but instead because bitcoin is a great investment and it is likely being pushed lower in prices and staying here longer than it should..and at the same time we cannot know how long it is going to stay here and we cannot know if it is going to go lower or higher.. at  least not in the short term, even if people are telling you that they know, beyond something in the ballpark of 50/50 assertions.

For example, if you have $26k and you are able to accumulate 1 BTC at $26k, or you are able to get 1.3 BTC at $20k or 0.7647 BTC at $34k, sure those might make differences when BTC is at $500k or higher in 2030, but I am not really sure if on the margins you are really going to be able to figure out how to make sure that you get more than 1 BTC with your $26k rather than getting stuck in some situation in which you end up getting less than 1 BTC with that amount... even if you think that you have it all figured out.. based on sentiment blah blah blah or whatever.


Bitcoin price can more than double in less than 24 hours, but it is a big so what.  We should not be planning our strategies on those kinds of happenings, even though maybe it would be helpful if we were to be prepared psychologically and/or financially if such a thing were to happen, even if it is a low probability of actually happening.


Yeah.. good point. fuck ethereum.. and other shitcoins.  

I had not even noticed that dumb-ass chart is not even about bitcoin.  Ethereum surely is not relevant to this thread.  The tail does not wag the dog... and the only dog that I see is bitcoin.

It depends on them. This means that those who have done big planning will not mess it up with things that could ruin everything. In essence, they have prepared everything from the start, maybe 30% for investment and 60% for living expenses and 10% for emergency reserves. So, in my opinion, what is called an emergency fund is of course not going to be used for other purposes.

For the sustainability of their investment, of course they have budgeted 30% to continue accumulating BTC. Well, sometimes we get surprise money/bonuses from the office or from other things, of course they can use the funds to buy BTC aggressively when they get surprise funds from the office where they work. Well, at least everything that has been prepared will not interfere with their BTC investment with DCA. That's what I answered from the post above. You can understand it if you have carried out the planning that you have arranged, but if not, maybe you fail to understand it.

I don't think that's a good investment plan mate because investing with the hope or plans that if there is any urgent needs you could use your investment to sorts it out so what if perhaps you bought a Bitcoin at the rate of $26k and the price drops to $25k at the time of your urgent need of funds would you sell knowing that you're at losing side? With that mindset is better not to invest at all than investing to loss because our goal of investment is to make profits and not loss. Obviously we no that in live urgent need could arise anytime but there should be a provision or method you could actually set in other to sustain those urgent needs from disrupting your investment were as establishing an account that would help you remedy the situation if the needs arise as such allowing your investment to grow.

If you want a price of $34,000 at the end of this month in Bitcoin it may be very difficult for you to find it because currently the price of Bitcoin is still below $27K so you may have to have more time to see a price like that again seen in Bitcoin. Because there is only a week left in this month, it is less possible to expect an increase of $8,000 in just seven days. So it's better for you to continue doing DCA by considering some of the suggestions that are here rather than thinking about prices that still seem difficult to achieve in a very short time.

That's why JJG has mentioned overtrade. Don't overtrade so that you won't fall into a situation where you need to sell off your BTC from your long-term holding portfolio. In the bear market, people rush to invest in bitcoin, and they buy everything they have, and they don't consider having some leftover for any emergency situation. I fell into this type of situation before and learned my lesson.

Buddy i catch your drift and i would like to add some point from my side as well. Most of the cases people started to do invest aggressively which is not good and when they ran out of money they used thier accumulated BTC as emergency funds. So, it is very important to have control on own emotional decision so that we don't have to repent at the end of the day And TBH these kinda things will never reach us to our fixed goal what the point we are doing Our BTC accumulation.

From your point of view about bitcoin investment, it is not supposed to be so. Because if you are investing so that when you get broke, you can go back to sell some part of your investment, it shows that you will not grow fast and you might run at loss, because you will be forced to sell when it is not your will. This also show that you are not prepared to set a good strategy in which you can use to accumulate and hodli for long. It is better that you don't buy aggressively or use majority of your incomne to DCA, because you will end up selling at the wrong price and you will definitely regret it. The amount of bitcoin that is sold can't be recovered easily, and this pattern isn't a good way to hodli, because hodlers don't sell their bitcoin but only plan to hodli for a long period of time. The DCA method is used to increase our bitcoin portfolio regularly, and that is why you should only use the amount that wouldn't affect your emergency needs and daily needs to invest in bitcoin, so that you don't go back to sell.

No, @armanda90, you are totally wrong. If you keep your emergency funds in Bitcoin, that means you are not actually keeping the funds for an emergency, but instead of investing them, emergency funds should be kept in a fiat bank or other place except Bitcoin.
As long as you are saving your emergency funds in Bitcoin, you will always go straight to your Bitcoin when emergency cases occur and saving in Bitcoin is not a thing you should be selling all the time. Bitcoin is an investment you should live for a longer time and investing in Bitcoin you must have a purpose for the investment, but saving in Bitcoin for an emergency is not a good idea.

Yeah, you are right, Sir JayJuanGee. Although everyone has a different approach as to how they always like to make their allocations, which have been working for them the way they want, obviously, steadily allocating money to an emergency fund that has not yet been used would not add any profit to the money. The situation is just like keeping a lump sum of money in your safe, which is not invested anywhere and will therefore be affected by inflation.

I am of the opinion that the emergency fund should only be replenished when the initial allocation from the first paycheck has been fully utilized for the intended expenses.

Let's say, for example, that someone receives a paycheck on the first month and the person allots 20% of the salary into an emergency fund safe, and due to fewer expenses, or perhaps there were no arising expenses for that month, the emergency fund was not spent. Then there would be no need to still allocate more funds (20%) to the already existing emergency fund if the person received another pay check for the second month's salary.

If perhaps the person still has their first-month emergency fun allocation unspent, they can then allocate the 50% (20% + 30%) to their Bitcoin investment or another investment if they have any, because it will be profitless to always keep allocating more funds to emergency funds whereas they are not being spent and are not going to generate any profit.

I agree with what you said.


Well, the fact remains that everyone has their own way of doing things in order to avoid financial hardship. Your approach is not bad; when you have your expenses covered, you can always increase your Bitcoin investment allocation.

This is a wrong way to go about emergency funds, emergency funds shouldn't compulsory be in bitcoin but fiat, so that it will be very easy to have access to. Any funds that has been used to buy bitcoin should always be in bitcoin. It is not a good practice to leave funds in exchange which shows that you want to gamble with your emergency funds, which should be properly kept. What is the price of bitcoin drops drastically, it means that your emergency funds in bitcoin will depreciate, another worst scenario is that if the excahnge in which you keep the funds crash, this will be the biggest regret, because you will end up selling your bitcoin at a price that is not of your will. Remember we are looking at how it will be possible for one to hodli for 10yrs without selling a dime from your bitcoin.

The only time that is is wise to use emergency funds for bitcoin is when the emergency dunds has pilles up to an extent that, you know that no matter the level of emergency that occurs there is more than enough to take of it. You can then use some part of youe emergency funds to invest in bitcoin. It is also not a most that we will have emergency all the time.

In Bitcoin price now there are some ups and down in the movement so In times of knowing what will be the actual price of Bitcoin towards the end of September is not possible perhaps this thread was not created for Bitcoin price discussion or to no what maybe the actual price of Bitcoin so instead you could focus more on the the strategy in which you can use to enable you accumulate and hold for long with a risk free model so perhaps you shouldn't dwell on knowing what will be the actual price of Bitcoin instead focus on it potential which will guide you as a roadmap were as you no that someday in the future the Bitcoin price will be great. So DCA investment mothod is always good especially for the beginners in other to be guided from over investing and the needs for reserve funds.

I quite agree with you on this. News affect price so much and so far, there is no strong news that will cause any rapid increase in price from now till the end of this month. The importance of capitalizing on the low price cannot be over-emphasized because price will drastically rise as we  approach next year given the line of bullish events next year. A decisive DCA from now to December, can enable one accumulate sizeable Bitcoin.... this is my suggestion.
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When no strong news is released, the price seems not to go anywhere. It could stabilize or go down for a little. But we do not need to worry about that as we have more opportunities to buy back at this level price.

We can only accumulate more from now on until the price is back to $40k or wherever you like. The investor already accumulated when the price was at $17k but they still do that at this moment.

If you put your emergency funds into Bitcoin, there are chances that you will be forced to sell some of your Bitcoin when you did not plan. This has the tendency of harming your portfolio as well as your psychology especially when you realized you sold at a very wrong time. In other words, it is not a good situation to be as it is possible you might get too comfortable selling when you should be buying.

Since we cannot really tell how things will pan out in life, it is always good to plan against any eventuality. So emergency funds should be kept for what the title says likewise investment funds... this is the way to live comfortably today and at the same time plan for the future. There have been instances of people who use their school fees to buy Bitcoin with the hope that they will sell, make profits from there they can pay their school fees. Unfortunately, they bought at the peak and market never gave them the opportunity to see any reasonable profit. Some end up selling in regrets. There are many other bad habits people have that can be called gambling.

I quite agree with you on this. News affect price so much and so far, there is no strong news that will cause any rapid increase in price from now till the end of this month. The importance of capitalizing on the low price cannot be over-emphasized because price will drastically rise as we  approach next year given the line of bullish events next year. A decisive DCA from now to December, can enable one accumulate sizeable Bitcoin.... this is my suggestion.

In the end, this whole thing boils down to what is convenient for each of us because as our faces differ, so does our interests and approach. The main achievement of our discussion here is to analyze what is generally workable and easy to use for many people. This is the very reason DCA, that stand out among the many methods, dominated as the focus. I know not everyone who own Bitcoin will love the approach and that is why it all return to the individual to choose what is best for him.

Don't you think you are mistaken DCA for other methods of buying Bitcoin? I'm saying this because DCA by definition does not really factor in the market sentiment as well as the price. The main focus is usually how to buy in such a way that it will be continuous at a define interval of time. The price and market sentiment are not usually considered to influence DCA unless I am wrong.
 
The above chart is Ethereum features. If I'm not wrong, our focus here should be Bitcoin so I don't really get the point you are making with Ethereum chart.

It's hard as we are now in September which is almost the end. I also doubt the price can get back to $30k by this month.

All can happen if one big news boosts the price such as Elon going back to accepting Bitcoin or another country accepting Bitcoin as a legal tender. But that is not easy.

Yes, DCA investment should continue as the price is still below $30k. It's a good price to buy

Emergency fund is not recommended for investing in bitcoin but no bad to use it because put emergency fund in bitcoin have potential in the future price keep increasing than hold in pocket only, not really difficult for withdrawing emergency fund when saving in Bitcoin due put or hold in exchange wallet and when emergency happening to us we can sell and withdraw to bank account without take 10 minutes. No one can't predicting when happening with something urgent for us and my opinion better put emergency fund in bitcoin investment and seems the same when have parent hold or save their money allocated for children education. Hold in the bank can make it double although we start investing when our children under two or three years and take at seven or ten years later. Its very important allocated our fund for children cost but effective when saving or put in Bitcoin.