Topic: Buy the DIP, and HODL! - page 429. (Read 136646 times)

Good thing is you have understand how everything works with your years of experience. However, based on your narrative you sound like someone who is into day to day trading more than investing. You can only adopt DCA strategy when your investing not when your trading. Which means you have to give more priorities to how you invest and accumulate your bitcoin. Am sure you don't want to DCA for some period and later lose them to trading. Then what it is the essence of accumulating when your trading.

Also, not because majority of bitcoin investor have adopted DCA strategy then you have to say other method are bot very useful. Before DCA become popular there were other other method which have worked for many investor. One of which i know is the lump sum. When bitcoin  started gaining big rise, Investors would wait for the price to go down and when it does they go all in the market. And back then the price was more affordable when the price has not exceed $10,000. A lot of persons where doing lump sum. Now the price is way high for a regular citizen to afford to buy once this is why the DCA method is adopted by many.

While deciding to trade we make sure that we have extra funds to use for any possibilities that will happen so that we cannot touch the first funds we use which get trapped on unforeseen correction happened. Since if we are not really prepared with this for sure we provably get panic and instead we think about right think we commit mistake by dumping our bought bitcoin since we are not fully ready with these consequences then get panic. That's why if we want to do DCA make sure we also have plan B so that we can make other actions and do more better decisions.

Correction always happen that's why we always need to look at this situation and don't play around since we think bitcoin will continue to pump. If we do that for sure we regret these since for sure there's so many fuds will scatter and might we get affected with those situation.

But for sure over the time we are trading we can learn a lot base on our experiences then for sure we can choose whether we do DCA or do long term HODL since we are well equip with knowledge we get thru our experiences in the market.

I think it's not a significant problem. I'm sure with DCA's investment model and the saying we're going to lose money/rugpull will change. Everyone tries to do their best in investing and sometimes the implementation is different. Some say changing habits is difficult, especially changing investment patterns which in the past we often saw people putting in/buying everything at once, everything was considered appropriate and not wrong, but if we lower the tension just a little, in my opinion it would be wiser to arrange it, do it in such a way and that not that difficult.

That's right, as you said, there is always the possibility of a market correction and sometimes it is beyond our understanding and just look today at how it can suddenly go down even though if we look at the graphic data it shows it will go up. So, what is needed in this situation is fresh funds to be able to absorb any downturn. Apart from research and observation before buying, the luck factor is not needed at all here because DCA is a pattern of buying every drop if we have savings.

To catch up I have been involved with Bitcoin for a long time and I have witnessed many changes in the market and I understand the charts well but I can never be sure how the market will go in the future. By observing the chart, one can get some idea about the market that the market will form support and stop at resistance, but it cannot be sure which direction the market will go. In trading I usually adopt this kind of strategy and by adopting this kind of strategy I can get some success in trading but in investing I never pay much attention to the chart or market condition.

Long term investment means I have to buy and hold a particular coin for a long period of time and the market will change multiple times during this long period where charts will not be very useful. Skill and experience is required in investment because skill and experience in investment can hold the investment for a long time but investing in long term plan there other strategies are not very useful. A strategy that comes in handy for long-term investing is the DCA method of investing. 

Investing in the DCA method sees bitcoins being purchased at each step, making the investment sound but with much less risk. Those who once did not understand the DCA method now find the DCA method to be the best investment strategy. It is always a good decision for an investor to start investing with the available amount and later invest in DCA method.

If a person just came to this thread, and realized that he should be investing into bitcoin (and he owns absolutely no bitcoin right now), so within a day or two, he figures out that he has right around $2,400 that he could invest into bitcoin right away, and then after that he has about $400 per month that he knows that he can invest into bitcoin, and he believes that maybe he could get his financial matters in order in order to reduce his expenses and to increase his cashflow and perhaps increasing his discretionary income, but that might take some work to get there.

Let's say that he also realizes that he has around $2k in various kinds of debts, such as credit card debts.. and they vary in terms of their interest rates.. between 3% and 20%.. and he calculates that he has about 1.5 to 2 months of emergency fund. and he recognizes that he has to build his emergency fund to 3-6 months, especially if he is engaging in investing that presumes that the invested funds are not going to be available for 4-10 years or even longer than that...   

So he has to figure out right away about getting started in BTC right away or not.. and then also paying off his credit card debts, and how fast and which ones first, and building up his emergency fund and also shoring up his income and cutting expenses.  He could well do all at once, and in regards to the amount that he puts into bitcoin right away, he could lump sum in part of his available cash and save some for buying on dip and DCA.. although he already knows that he has cashflow coming in too.   

Identifying his own situation is part of the challenge, and there is some discretion regarding how aggressive to be or how to divide up various categories to do things simultaneously or to maybe accomplish one thing or another first or to give higher priorities to certain parts over other parts.  There might be smarter ways in regards to selecting whether to do some items first and/or whether to get started investing into bitcoin right away, and deciding how and how much in the various categories.  It could take 6 months to a year or maybe even longer before the person in this particular hypothetical is really able to get his finances in a decent place... and to me it seems that building his bitcoin stash should be something that he includes right from the start, even though he likely would not be able to invest very aggressively into bitcoin until getting some of his financial matters into a better order, and he really does have quite a bit to work with, but a lot of balancing of where to put his discretionary income (the amount of cash that he has remaining in his monthly budget after expenses).


There is always a possibility for a correction, and that is part of the reason that everyone needs to invest in bitcoin in a way in which he prepares for short-term price moves in either direction, and if he has no bitcoin, then he is not prepared for up.. .so even if the BTC price has already gone up more than 60% in the last 2.5 months, that still does not mean that it might not continue to go up from here.

Historically many people are not sufficiently/adequately prepared for UP, and that still remains the case of the overwhelming majority of the population, generally speaking an overwhelming number of peeps are inadequately and insufficiently prepared for UP... and that inadequate/insufficient preparation for up problem is at least partially addressed by at least getting off zero and getting some BTC.


Wow! 

You have been here nearly 2 years longer than me, and if you are suggesting that maybe earlier in your BTC accumulation journey, you screwed up because you did not accumulate enough BTC, then at some point you might know if you have accumulated enough BTC... but you gotta get started and keep accumulating the BTC until you have enough.

How much is enough is another story, and so you should attempt to account for your personal circumstances, but the longer that you have been accumulating and the more aggressive that you have been, then at some point, your BTC accumulation could even bring you to entry-level fuck you status.. which should be a sign that maybe you are getting close to the state of having had accumulated enough BTC.. and surely, even getting to entry-level fuck you status, might not mean that you are quite ready, yet to pull the fuck you lever and to be able to live off of your BTC investment through a kind of passive income (and perhaps other investments that you have), so if you are fairly young, then you have a lot of years that you would need to feel comfortable to support yourself, and if you are getting older and closer to retirement age, then you may well be at an age where you were already planning to stop working.. and so then there might be a question if you have any other sources of age-based income such as social security, pension 401k.

There is nothing to be unsure of. It is a fact. Many years of experience cannot make an investor know what the price of bitcoin would be. Although experiences matters a lot when you want to accumulate Bitcoin. It will help you know the strategy to use and when to utilize that strategy to accumulate enough Bitcoin. In my experience DCA is the way. When it goes up we DCA and when it goes down we DCA as well. DCA has helped me neglect the urges to trade short term and sell often. With time it will be the best way to accumulate Bitcoin.

This is the issues that mostly happens when following trends or news about people speculating on bitcoin price and if it happens that the price is gradually driving to where they said you would notice a sign of regret in you for not investing but along the line you may still want to utilize the opportunity to venture into investment either with borrowed money or not. During investment we need to be prepared for it not because we see some changes in the market before we could go invest there are some people who doesn't make investment if they don't see the market changes direction maybe with at least 10 percent changes they won't invest without knowing that the market could turn back as a correction the previous charts or candle.

When I first heard of this kind of mindset, I remember rushing into a Bitcoin purchase without realizing that the market is erratic and that you can wait a little to buy at a discount.

A price increase does not guarantee that it will continue to rise without a fall. Because the price of bitcoin was rising, I had to purchase it at a high cost using the money I had saved. What did I witness the following day? The price of bitcoin dropped by 4%.

Having said that, don't suggest someone make a hasty investment because many people may utilize borrowed funds or their last savings to purchase bitcoin, which could lead to them selling off when they are not ready because of an emergency

DCA is a good strategy, you will always see the value of your money is stable but not with the price of bitcoin, the price of bitcoin may go down but the timing cannot be predicted so having high hopes to buy when the price of bitcoin falls even further is something that will be tiring ^{(it could be up to a year or even 3 years, depending on market sentiment)}, i have applied the DCA method myself in my investment in bitcoin, and i have proven that what i did was the right decision, and i am also sure that is the case with other people who apply the DCA method in their bitcoin investment. 

Wise investors will always have fresh funds at their disposal whether it comes from their job or their business and they will definitely understand how to make good profits and also not gamble with time, there will be no end of days if we wait for the Bitcoin price to continue down for us to be able to buy at a lower price from now on, especially since the halving will happen soon, hoping that the price of bitcoin will fall below $30k or even $20k will just be a dream lol

It seems that the point is that when the unexpected moves upward come, there may not end up being a correction in order to get back in, and we never really know when those unexpected move upwards are going to be.  So it is better if we are "mostly in" during those period in which the BTC price goes up and does not end up correcting back down.

We also don't even know once an UPward move happens (for instance the move up from $16k to $25k in late 2022/early 2023 with ONLY a correction to $19,800, and then our recent move up from $26k/$27k in mid October up to nearly $45k.. and so far hardly any corrections) if it will correct back down or not... and historically, sometimes we have seen 2x, 3x or more in fairly short periods of time... but there could be several 15% to 30% upward moves within the larger upward price move... so the point is mostly to be "in" during those UPpity periods.


I doubt that being in bitcoin for 4-5 years or more helps you to know better when the BTC price will move, but it helps you to figure out at what prices that you might buy, if you had started to slow down in your BTC accumulation, then you may stop DCA and ONLY accumulate on dips or during BIG dips.. but you are likely mostly informed by a sense of already having more BTC.. and perhaps even getting to a point in which you feel that you have enough BTC relative to other assets that you also have.    Your choices are likely not even going to end up being correct, but you are in a better position to have more options after you spent some time accumulating bitcoin (and also more likely to have your currently held BTC in profits) versus the person who might be in his first year or two of BTC accumulation, but some people still might not end up doing the right thing because they might be trying to keep their average cost per BTC down, and then they end up being too whimpy in their BTC accumulation, merely resting on their having had accumulated BTC at lower prices and at earlier times.  There sometimes can develop feeling of futility if you accumulated 4-5 BTC over the past 4-5 years, but at that same accumulation rate, you may well ONLY be able to accumulate 0.5 to 1 BTC over the next 10 years, so there could be some questions regarding if it is a good idea to continue to accumulate BTC, and no one can really decide for that person who is weighing his own particulars in order to figure out whether 4-5 BTC is enough and how much better would it be to have 5-6 BTC, even if it could take another 5-10 years to accomplish such additional BTC accumulation.

In fact, those who want to hold Bitcoin for a short period of time or to be profitable for the time being can wait for the market to go down. But if you believe in Bitcoin and if you are determined to invest in Bitcoin for the long term then I would say this is the right time. There are many who wanted to invest in Bitcoin when they had $16000 but everyone can see what happened to their situation today. Today bitcoin price is at $44000, with in shortest possible of time it can touch 50K and after that it may touch ATH. It is not that the market always will be bullish. The market can go down at any time. But considering the current time, I think it is not a suitable time to expect a downside in the market. I think it is better to hold as much as possible and it is definitely right time to invest in Bitcoin.

Of course it is very important to always buy Bitcoin whenever you have money to buy instead of waiting. That's why the DCA is there for people to follow instead of waiting for downtrend which might limit your ability to buy due to unforseen circumstances.

How quickly should you act? I don't think you need to be too quick to invest in bitcoin. The important thing is that you stay within your plan through the DCA strategy. Bitcoin may still be at the $40k level for this month until the start of the New Year. So you still have lots of time. You still have time as long as the price has not risen to $69k, considering that bitcoin price could rise beyond $69k. We cannot compare our investments with people with much money. But we can still invest comfortably using the DCA strategy.

Apart from that, you must also determine how much money you want to invest in bitcoin and only use money you can afford. That's the key so you don't panic or get frustrated by the temporary losses you see.

Many are hesitant to invest in Bitcoin, but I think there is no reason for hesitation. Always good time to invest in Bitcoin because DCA method is better if holding for long term. If you invest weekly then in the first week you buy at $41k at the current price, and in the second week you buy bitcoins at 44k. You will follow your DCA method based on the two-week average of the price that will be lower.  Because DCA method is better for long term. Everyone is making money and succeeding by investing in this method.

You are saying that Bitcoin should be invested now before it goes higher but what about those who invest in the future. Bitcoin price was twenty thousand dollar still but it was perfect time to invest bitcoin from that point bitcoin price reached 30000 dollar and still bitcoin was ok to invest now bitcoin price is above 40 thousand dollar and i think still ok to invest. Not only now or in the future when the price of Bitcoin reaches $50,000 to $100,000, but people will invest, that is, people will continue to invest, no matter how much the price of Bitcoin rises. 

There is no rush in investing because we are thinking of investing in long term plans and we are investing in long term plans. As you said that should invest in Bitcoin now but people who don't have money now but will have money in future if they read your comment they will be confused and they will be disappointed in investing in future. Long-term investment does not require much thought or haste, but if possible, if an investor starts his investment with a small amount of money and if he can make his investment consistently, then this investment strategy is fine for him.

Buying when there is shrink in the price of bitcoin is good, but my question is what if you were ready to buy when the price is up will still wait until the price comes down before you buy, that's why I always encourage people to buy when they are ready to buy, no doubt, the best time to accumulate bitcoin is downtrend but identifying the exact period is not easy, bitcoin volatile has made it impossible for people to predict it's movement, am of the opinion people should invest when the have the money to do so, since the value remains intact, I said so because waiting till it's downtrend might result to less interest or even spending of the fund set aside for it.

Buying regularly based on the capabilities we have is the same as buying gradually when we have capital which will eventually become a lot. Because very few people can afford to buy something in large quantities at once, especially if what they want to buy is Bitcoin, which has seen its price increase several times. So that it makes everyone apply good buying methods so that it is not so difficult and burdensome when making a purchase.

It should be like that, because if there is a possibility for Bitcoin price to increase more and reach new highs within the next year. This means that everyone must be able to assume that the current price is a price that is still in the Dip so that there will be no fear of buying repeatedly at any capacity they have. Because some people who are still thinking about price reductions still don't dare to come to the conclusion to buy at this time because there are still delays like that.

Buy signals are still available to take before it's too late. It is true that just waiting to buy when prices fall is the same as delaying the opportunity. If the ability to buy in large quantities is not possible, using a buying strategy that is carried out regularly is the best.

The achievement of a new high price may not be known by anyone other than speculating. The belief that Bitcoin will reach its peak is something that is very possible. So, before it's too late because of delays, choose the right steps to prepare yourself now.

All I sense is decision if you must know decision plays very important role on investment you might see someone who would want to invest in a specific asset be it bitcoin but if s/he has not taking that decision to release their personal funds to invest you would still find out that such person is still moving his feet to release money to invest. A true investor never wait for the price of bitcoin to drop about 50 percent before they venture into the market and of course won't wait, having known what it takes to have the opportunity to meet bitcoin price at a good entry point s/he won't waste that opportunity waiting for it to drop more before investor or before having to start doing their DCA. Look very clearly at all point in time you will noticed that people invest because they knows the potentials of bitcoin and won't let it pass them but, newbie investors will always wants the prices to drop so low like they wanna buy bubble gum.

If you have to invest in Bitcoin at this time, you must invest quickly. Because the longer you delay the price of bitcoin will go up, because I can see bitcoin price stayed between 26k and 30k for a long time. At that time some people said that the price of bitcoin would be lower and it would be better to invest, but now that the price of bitcoin is 44k some people still say that it would be better to invest if the price of bitcoin is lower. But no, you should notice that Bitcoin price has almost doubled in last 2-3 months. So if you observe carefully you will realize that many people have made a lot of money by investing in this Bitcoin DCA method and they are becoming financially independent. If you invest regularly in bitcoins and your average price will decrease, then of course you can become self-sufficient using the DCA strategy in this way.