Topic: Buy the DIP, and HODL! - page 418. (Read 123322 times)

Good you join Bitcoin as a student, that is pretty early and a perfect time. Before your graduation, you would have saved a good amount of money in Bitcoin.

The DCA method is your best choice since you have a stable monthly income. So check yourself to know how much of the monthly $200 you can commit to Bitcoin without putting yourself in pressure financially.  I am also happy you are already thinking long term. That is the sure way to follow Bitcoin as it has been proven to be the way to maximum profit.

Bitcoin is on the rise now and this is an indication of bull market. And now that bitcoin is $34k to $35k those who want to buy and hodle, this is the best time to invest. Those who indicate interest to invest on bitcoin in my location came to meet me yesterday and I told them the factors involved. I told them both the benefits and the risky. Early is the best.

I don't have as much knowledge about investing as a professional investor but if I have knowledge I can invest in Bitcoin and if I have the patience to hold that investment for a long time I have gained patience and knowledge about investing. I am just waiting to invest maybe soon I will fulfill my investment dream by investing in Bitcoin. The amount of money I want to invest in Bitcoin may not be much but this is the beginning of my investment. I have a lot of plans to invest in my first Bitcoin. I plan to hold my first investment for five years. I am a student and I have a part time job besides my studies from which I earn about 200 dollars every month that's why I dare to keep my investment for 5 years. During these five years I will not only hold my investment but every month I will try to add some amount to my total investment if I have a job for five years. That's why I will hold the investment in five year plan because after five years my graduation will be complete then I will try to do something good with my investment. 

Hopefully I can hold on to my investment for a long period of five years and continue to grow my investment every month.  I believe that after five years this investment will help me achieve my goals.

  In Trading Bitcoin, technical  and psychology careful study is needed in other to continue with your money. Trading Bitcoin has to do with buying and selling which is short-term ,volatile and maximize profit, traders wants to make more profit through different  ways with or without using the platform on the market and they tend to profit and loss more than investors.

  Hold and accumulation of Bitcoin by always DCA makes you stylishly rich because when you invest for along  period the reward is enormous, as you keep DCA a higher method (strategy) with finance to invest at all time maybe daily, weekly, monthly, quarterly, yearly or for a longer period of 10 years  or more by buying  and accumulating Bitcoin in your portfolio.

  Bitcoin also have a technical aspect, block-chain and high performance systems with mining software, while investing  you are hodl until a period of expectation, it's value  becomes larger over time that is long term strategy,stability, to produce their portfolios,want to have good return rates which is more of with respect to your investment ,when all these aspects are put into considerations, the method which you will apply as an individual from your income will be easy for you to buy the dip and keep hodl unto your wealth as it increases.

  

@Ruttoshi you're correct that he's not a hodler but a trader in as much as he buys and sell each month with every dip and high that roll in. A hodler is said to be that investor with a medium or long term investment plan with his portfolio.

But at same time, he @summonerrk can be a trader and a hodler if that's what he intend on doing. And this he can do by having a separate self custody wallets, one for buying and selling each month as you're already doing at every dip and high that take place, while the second wallet should be meant for hodling by DCAing.

It should be noted that to be able to do this and maintain it, you have to consider how much you earn as income (salary) as it greatly depends on it because if the uncertainty of the market due to bitcoin volatility which we can't be accurate with our predictions.

Yes this is one of the biggest problem for us that we always wait for the price to hit the top but we don't understand when the market can go down at any time. Those who always have this kind of thought in their mind that if the value of the coin goes down after they invest then they will lose I think they are not suitable for investment. Where our main objective is to invest for the long term, I don't think a small fall or rise in the value of the coin will have much of a negative impact on our investment. Now the price of Bitcoin is between 35 thousand dollars. Now if we want the price of Bitcoin to drop to 20 thousand dollars, then we will invest. Is it possible at all or there is no guarantee that the price of Bitcoin will come to 20 thousand dollars. Since there is no guarantee or confirmation that the market will go down or up, I think it is better to invest with the risk of money. 

Are many investors now investing in long-term investment plans so they are making a mistake? Not doing wrong at all. 

I never thought much about investing that if I invest now the market will go down after some time and if it goes down I will lose my money instead I took courage and invested and tried to stick to the long term plan. I have already held my investment for a long time and I am not in favor of selling my investment now rather I will hold my investment for a longer period of time and if I can I will increase my investment amount. Because I understand that the longer I hold my investment, the more likely it is to make a profit from that investment.

I didn't mention anywhere to sell BTC at the end of every year to meet or achieve the short-term goals and understand that I termed short-term goals as accumulating bitcoins over time and going blatantly will make it harder for the retail aka small-scale investor. Or if you are someone who can just buy 5 or 10BTC straight away and HODL straight for 4 years or 10 years then its different story.

Short term goals are not classify as HODL. The word hodler, are used for bitcoin investors that keep their bitcoin investment porfolio for 4yrs and above before they can think of taking profit and the investment is still existing i.e they still have some bitcoin with them. While a short term investors is classified as a trader, the reason is because bitcoin investment is beneficial when you invest in long term to get a good profit compare to short term. The reason why short term are traders is that they can sell after one year and after that bitcoin price pumps 2x or 3x the year after they have sold, this shoes that they have missed out from the long term hodling profit.

Imagine that you are running a new business that you just set up and after one year when the business has not stand and it is still facing challenges to grow, you sold half of the business, will that business survive, ot because you have made little profit, you decided to sell the business to someone else and walk away with your capital and little income. If you have left the business and continue to manage it that your little profit that you made will be use to invest back into the business and continuously. A time will come after a very long time that the business has flourished that when you take a reasonable amount from the business profit, it wouldn't affect the business. Same way you should look into bitcoin too.

This is why have the long term goal plan and invest, then increase your bitcoin portfolio through DCA frequently, and you will see that you will grow in your bitcoin investment, the longer the timeline, the higher the chances of making profit based on the size of your bitcoin portfolio.

@summonerrk, you are a trader and NOT a Hodler. This is because selling your bitcoin due to little price increase is a way to distract yourself from a long term goal, and it will be hard for you to reach your bitcoin target, if you have. You will also not be able to make a better profit got yourself at the long run and when you make the wrong decision about the market, it can lead to loss and you will regret it. Why I said so is because nobody can know the price movement of bitcoin accurately, and you can not always buy at the low and sell at the high, if it is always possible every bitcoiner will become a trader.

You have a point because one of the best way for most people to understand what it takes to be an investor is by practicalizing it in such a way that they will understand perfectly, so in as much as there is a need for people to learn about Bitcoin is also very important for the person to start investing while learning immediately because that's one of the best way to understand more better.

The need to invest while learning is also for people that has a perception of seeing is believing, so however seeing the practical aspects of what they are learning will enhance there learning zeal and motivate them to know the needs why they should invest on Bitcoin. Perhaps even me what motivates me on most things is being able to practice while learning.

With the current price of Bitcoin, I still consider it to be on a dip compared to the previous ATH, and who knows what the ATH will be this time around? If anyone is still waiting for Bitcoin to dip to $20k before they can buy, then they are going to wait a long time (if at all the price will come), and they will also miss the opportunity to buy now that the price is still low. According to the speculation for the next bull market, many people are saying that Bitcoin will definitely get to $100k, and if it happens like that, then this current price of Bitcoin is a good opportunity for those who are buying now.

Yes, planning is one of the factors that will determine success or failure in everything we do, including this bitcoin investment. But we also shouldn't just have one plan and one plan is intended for a smooth road. However, we also have to have a plan when unexpected situations come or in other words bad things happen to us when investing, it could be said to be a backup plan that we will use in certain situations.
In life we are not only faced with good situations, but we will definitely also be faced with something bad. And in a bad situation that will test our mentality and readiness and will definitely test whether our planning is complete or not. Based on my experience, things like this are what we often forget, we only focus on something good in our planning, but we (especially me) often forget about unexpected possibilities. And from that experience, I am even better now.

Who wouldn't want to buy when prices are falling and even more so when they reach their lowest price, but the problem is that we don't know exactly when that lowest price will be reached. What should be done is to continue to consistently make purchases, and if we look at the last ATH that bitcoin reached this is the right time to buy. Yes, even though the current price has shown an increase from the price that once stepped on tens of thousands some time ago.
But this is not a problem, because we have not yet reached the day when the bull run arrives.

As it stands now that bitcoin isn't DIPPING the only thing an investor needs to do is to buy and HODL, then apply the DCA method to automatically monitor the activities in the market then make investment at different intervals that a DIP happens, so as an investor it is advisable to keep buying bitcoins HODL it despite the price of stocks in market. so as soon as there is an increase in the price of stocks in the market he can now sell it at that material time. Though bitcoin being a volatile asset has the tendencies to fluctuate from time to time

This is what differentiates beginners from those who are used to the hustle and bustle of the market. Beginners are more likely to read and think about it and continue to worry about whether it will go up or not and the safety of their coins, while those who are already experienced go in and keep buying, even if little by little, using the DCA technique.

Prices continue to move up and BTC is the most popular choice and most here I am sure also plan to hold their Bitcoin for at least the next one to 5 years.

The financial status of every individual is different. You can also continue your regular DCA and still buy on dips depending on your financial capability, but it shouldn't affect your DCA. There are times when you earn extra money apart from your monthly salary, and you still want to invest. You can wait for a dip and buy, this doesn't change the fact that you're DCAing consistently. The reason for DCAing is to accumulate Bitcoin regularly with low risk. If you have more to invest when the price dips, it's still advisable to buy, as long as you plan to hold it for the long term. This will help you accumulate your Bitcoin faster.

Many people adopt this method, and it has helped them build a good portfolio. So, there's no reason to say you see no point in buying on dips when you're DCAing, as long as the money used to buy on dips is not the money intended for your DCA. Buying on dips is probably a onetime thing, so it's not distracting.

By investing and holding Bitcoin we mean long term hold. As an investor you will never get any good out of your investment if you hold Bitcoin short term. Your-mine investment style so that I invest in Bitcoin and sell my investment whenever I want does not fulfill the original purpose of the investment. Short-term Bitcoin holdings are better called trading than holdings because short-term holdings mean that you will sell your investment whenever the price of Bitcoins rises slightly, it is like full trading. If we invest, we should aim to invest for the long term. 

After investing we have to harden our mind in such a way that we never sell our investment unless our specific target is met. Investing is an easy task but keeping the investment is very difficult. You may face many hurdles in holding the investment and many financial problems may come but an investor will sell his investment without any means and that is why I said it is very difficult to hold the investment for a long time. 

When we invest to hold our investment for a long time, we have to assume that we don't have the amount of money that we invested in Bitcoin, that is, we have to think that we will not need that money so that we can hold our investment for a long time.  .

Perhaps if you are using DCA strategy I see no reason why we should focus on buying dip, I no that accumulating during dip is also one of the best time but with DCA strategy we don't need to wait for a dip to come before we could start investing on Bitcoin. However accumulating on dip is for mostly those that lump sum because they want to buy everything at a stretch so they consistently observed and watched the market to see if there is any dip for them to lump sum.

So I think it will be more better focusing on DCA strategy because if you plan on accumulating Bitcoin waiting for dip, you will have to wait tirelessly on the market and the possibility of the price dipping is not certain however making you to miss out the buying opportunities.

However your strategy of buying and selling if the price peak is a very wrong strategy because is more like a gambling strategy because the chances of making profits is very minute, so perhaps instead of chasing the Bitcoin price that could caused you emotional trauma or panicking seeing your investment going on a wrong direction perhaps you could save yourself those stress by only focusing on investing and holding.

And all your comments are great! Don't worry, there is still plenty of time and the market always provides opportunities for anyone if they really want to invest with BTC anytime and anywhere. All one has to do is set up an account by both traders, investors and the general public around the world. so they can start investing bitcoin .

Btw.. I also follow the development of discussions regarding DCA techniques and methods and this is seen as capable of producing modest returns later, even though Bitcoin is now selling for tens of times its price at the beginning of 2017.

Planning is main factors how to be success when investing in bitcoin but don't forget with another important way about hard decision keep accumulate and investing in bitcoin what ever condition of bitcoin although in lower price. Many investor have good road map or planning for investing in bitcoin but many of them afraid when getting moment bitcoin in lower price but not braveness for put their money in bitcoin. There are not important with how your planning have been schedule for long time but you not brave for accumulating bitcoin as how many possible.

Good planning, brave for taking action its most important if want to be success in bitcoin investment, based on my way although still not success yet but with 100$ accumulate every month seems promising for few years later to earn much profit with bitcoin investment.

I agree with you that investing in Bitcoin while learning is more suitable for people who are new to Bitcoin.  In that way, they have a feel of what it means to be invested in Bitcoin and how best they can chanel those knowledge into practical use. Learning never ends because everyday comes with new discoveries and innovations. So, it is always better to start investing in Bitcoin even if with the least amount we can afford to set aside for investment, while seeking wider knowledge. 

Experience in Bitcoin is not measured by how much of articles or journals of Bitcoin one have read buy how one have been able to navigate the turbulence and process of evolution of Bitcoin amidst the various negative news and fears.