Topic: Buy the DIP, and HODL! - page 490. (Read 140500 times)

Come to think of it, Bitcoin is money and for some, it is meant to be spent or taken to foot risk investment or purchases that may require toomuch or for trading.

 One may have to clearly plan for the future to be able to buy and HoDL BTC for a long term. The discipline is one thing, another is the scare of the BTC's worth after waiting and with consistently DCAing for this long.
A topic of this excerpt does more to encourage consistent adherence to a good DCA strategy and the fact that even when one buys the dip and HoDL, it would turn out well in the long run because of the growing value of BTC among other crypto currencies or shitcoins.

You have made the right decision to invest your money in Bitcoin and hodl it till you graduate from your studies, it is a nice move because you already have a means of income, which will make you not depend on your Bitcoin investment for survival. But before you invest in Bitcoin I advise you to gain a little knowledge about Bitcoin so that you will understand how Bitcoin works to help you not to sell your Bitcoin when Bitcoin drops in price. Whenever you are ready to start your Bitcoin investment you can use dollar cost averaging (DCA) to buy your Bitcoin, because dollar cost averaging (DCA) will help you reduce the volatility part of Bitcoin in your hodling

You are right the best planning is not to delay buying. That is the meaning of every investment journey they take. Apart from that, everything we arrange neatly must be accompanied by a strong determination to hold it in the long term. Success will come and we just need to be patient in the investments we make. As we can see there are many people who have had great success in holding Bitcoin in the long term and that is why we have to learn a lot from them.

Every downturn is certainly a better purchase than the investment we made. Purchase moments can be implemented using DCA and accompanied by purchases at cheaper prices when the market situation becomes bearish. The main factor may be confidence in Bitcoin as it advances very rapidly and that will encourage us to buy and hold in the long term.

Usually when people who are not interested in cryptocurrency start asking questions about bitcoin, it's a bad sign. It means that there is a little hype to get people interested. Of course it is not too late to buy bitcoin now, but I think that before the halving everyone will still have the opportunity to do so.

In my opinion the best time is when at the price level of Bitcoin $ 20k- $ 29k, but this is relatively depending on each view, it should be the sideway time at the price level to be the best time to collect more bitcoin.

But for the current price we are still not late for the train, there are quite a lot of bullish indicators and bullrun catalysts such as ETF Bitcoin and Halving Bitcoin, are still the target of many people, and of course many people will prove that moment, before it is too late for the price level Now it's still very good to accumulate Bitcoin.
Everyone has their own doubts about the momentum of the price, therefore the strategy that you are sufficient for people who are doubtful, DCA is the solution in this case.

Here never discuss about bitcoin trading, but will be aligned with the discussion about buy DIP and DCA strategy in general, yes this has led to it but about trading has been put aside.

You are too early to say that holding BTC or doing DCA will always make you rich, that is not what is in mind but how you can consistently hold btc and DCA strategies all the time and need to consider the cash flow that you have then that is the most important thing, not about being rich because if you talk about being rich while you hold 10 years you will have a valuable asset that can be said to be rich in your hands.

The DCA strategy that I know starts from daily, weekly and monthly not quarterly or yearly because this will be considered as holding for a long time and how can you achieve it regularly without any obstacles that hinder it.

It was a really good initiative. If they know about Bitcoin and consider its positive and negative aspects and if they take a decision to hold Bitcoin after having a good understanding of its risks, then they will undoubtedly take a good decision. No matter how bullish the price of Bitcoin is, it is an opportunity if we understand Bitcoin well and plan long-term. Moreover, at the current price, those who invest at the moment after learning about Bitcoin can definitely be lucky. However, we cannot guarantee this. But by combining the possibilities of past and future we are able to understand that Bitcoin is the best platform for investment. They should know about bitcoin holding is that regardless of profit or loss, if they have the ability to hold bitcoin for a long period of time, they are most likely to be profitable.

$35K is still too low if you look at the future price of bitcoin will be much higher, anyone who wants to start there is still a chance to buy at a low price even though this is an increase from $28K to $35K.
Buy DIP think it will be difficult if they don't have big money but they can do it by accumulating DCA every week or month which will continue to accumulate bitcoin all the time, or can even hold longer in a few years not waiting for next year.

As stated above by @Agbamoni, it is wise as an investor that us DCAing to also keep reserve of funds that he can use to buy at the dip, such incase bitcoin price dips, and he will still continue with his DCA strategy. This will enable you get to your bitcoin target faster than when you are only DCAing. This is because nobody can time the market but you can be prepared for the market by reserving such funds for the dip.

No accumulating at the dip is not only for lump sum buyers but for everyone who has prepared and kept reserve funds for that purpose. A lump sum buyer can also buy anytime that he feels he should buy disregard of the price of bitcoin as long as he is investing in a long term investment because bitcoin price will be more likely be higher than the amount you bought 4yrs ago and above. But lump sum has more advantage if you are lucky to buy at the bottom line. Stay healthy in your bitcoin journey by using the three methods of accumulation bitcoin base on your income at the right time, to be a good long term hodler, you must be able to be flexible with your DCA strategy with the market movement of bitcoin and use the other two strategy when there is an opportunity to do so because you are prepared if the market goes south or west.

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.