Topic: Buy the DIP, and HODL! - page 509. (Read 122936 times)

Of course, there are no strict rules in regards to how to manage the accumulation stages of your BTC journey nor how to manage your maintenance of your BTC portfolio once you get from an early accumulation stage to a later accumulation stage and then into more of a maintenance stage.

You are running more risk to be mixing up buying and selling when you are in the earliest stages of BTC accumulation, and the more BTC that you accumulate, then the more likely that you are going to have options, including having a lot more options when your BTC is in greater levels of profits - so of course, you thereby would need to figure out the extent you believe that it may be good to sell some of your BTC on the way up.. and what might be those various trigger points.. and are you selling in order to accumulate more BTC or are you selling in order to off-set some of the seeming risks that come from seeming market frothiness..

There are a lot of examples in BTC's history in which previous bitcoiners become bitter about bitcoin because they sell too much BTC too soon, so sometimes selling too much BTC too soon can have a lot of negative psychological effects, especially if the BTC price ends up moving against you and then you might end up having way too few BTC in order to take advantage of even higher prices.

Of course, this thread is not even really about how to employ any kinds of selling strategies, and so part of my objection in terms of getting too much into those kinds of discussions regarding how to manage your possible selling of BTC on the way up.. is because this thread is largely about a different angle in terms of how to accumulate bitcoin and potentially how to get yourself to a financial and psychological stage that later you might feel that you have more options, including possibly selling some of your stash.. but it seems somewhat unfair to the topic of this thread to be exploring those options in very much detail..

Even though a thread called (SSS) - A Sane and Simple bitcoin Savings plan has not been active in several years, I do think that the various talking points in the thread provides a lot of good insights regarding how to consider selling on the way up .. and perhaps both what kinds of price thresholds and conditions to set for oneself and also considering whether buying back would be part of your purpose or merely just shaving off some profits along the way (which already presumes that you have more than enough BTC already in you investment portfolio), and even the starter of that thread rpietila (RIP) admitted that at one point, he sold way too many BTC on the way up in 2013, when he sold a decent amount of BTC at something like $600.. even though the BTC price did end up coming back down... and of course, rieptila's average cost per BTC was likely around $10 per BTC and maybe even lower than that, but surely depended upon how much he might have screwed up along the way.. and surely rpietila ended up being a bit of a scammer.. even though he had some good ideas too.. in spite his scamming tendencies (again RIP to rptiela)... by the way, Rptiela was also a bit too much of a gold/silver bug for my liking - since that seems to be his financial professional roots prior to getting into bitcoin, so he did seem to know quite a bit about sound money ideas and also spoke about allocations in terms of having BTC, gold and silver.. which may be a bit too specialized for my own thinking, and even though he did seem to recognize that BTC was better than gold (as a kind of gold substitute), he really got distracted into a lot of shitcoins, too... he was even a kind of scammer and shitcoiner before shitcoins were even a thing.. you can look at some of his past posts in regards to his always seeming to be selling.. hahahahaha.. again RIP to that nutjob.

Unless you did not read me correctly, I made it clear that DCA is what I will do until the price dips more. Even if a golden opportunity to buy comes, it may not really be a golden opportunity. But I said I would DCA until the golden opportunity came, and I would still make use of the opportunity and buy more. If I am earning up to $800 a month, then buying $200 of Bitcoin or more every month should not be a big deal for me. Perhaps I don't have intention to sell sooner.

Also, I see that halving is coming up next year, but I am certain I may not even see a very tempting price to sell my holding, unless, as some people would advise, "it's good to sell some portion and take profit first." I don't know what @JJG has to say about that.

@JJG, sir, Is it good to sell a fraction of one's holdings when the market is too bullish and offers a very tempting price like $100k?

Personally, I like the idea of DCA'ing at least once a week - especially for anyone who is in early BTC accumulation mode, and surely the amount that you DCA is a personal determination but also depends on how early in the BTC accumulation mode that you are, and the closer that you get to reaching BTC allocation target level, then the more freedom that you will have to be loosey goosey in regards to the amount of your weekly DCA - which may well also include how much value that you hold aside for possible dip amounts... and none of these are all or nothing matters, because if you do all of this in the better kind of a way, you are never going to run out of fiat and you are never going to completely buy the max of the dip.. because combining DCA and buying the dip should not cause you to end up completely going "all in" even if sometimes, you may well NOT have very much fiat in reserves, but still it is quite likely that you are always going to strive to have some fiat in reserves, even when the BTC price ends up going back up and NOT dipping back down...

Part of the satisfaction should be getting to a point in which you do not give any fucks about whether the BTC price dips or not.. because you have enough (or even more than enough).. but until you get to that status (which could take several years), you likely will continue to feel some discomfort in regards to how you are striking your balances of DCA and buying on dip.. and having feelings that maybe you are leaving too many dollars on the table or even feeling that maybe you bought too much and you do not have enough when the BTC price continues to dip after it had already dipped.. 


This thread is not addressing selling and/or trading...   So go somewhere else with that nonsense.. the emphasis here should be both accumulating BTC and figuring out various strategies to ongoingly figure out how to get enough BTC so that you feel that you have enough or more than enough.. which is a BIG enough feat in itself.


You are mixing the concepts in the way that you are describing the matter.

DCA does not give any shits about the BTC price... so you can buy no matter the BTC price and keep buying until you reach a certain level of satisfaction in which you are content with your level of BTC accumulation.

Buying on dips pays attention to the dips and the amount of the dip and tries to take advantage of such dips.. so buying on dips can supplement DCA, but it is not the same thing.... .. sure you can say, that you buy more when it dips or you add to your DCA when it dips.. which in itself means that you are employing a kind of hybrid of DCA rather than referring to pure DCA, which again does not give any shits about dip or no dip but instead just ongoing and continuous BTC accumulation at regular intervals no matter the price and perhaps until you reach certain other goals that you have whether that is to accumulate enough BTC that it constitutes 25% of your investment portfolio or some other goal that you might have, such as you are going to keep accumulating until you reach fuck you status...  .. which reminds me that a few days ago (on April 17), I updated my chart that attempts to prognosticate entry-level fuck-you status.

Of course we will take advantage of this opportunity to buy when we get a downward moment like what is happening now.  where the golden opportunity that can be maximized is to buy at a low price and sell at a high price.

DCA is still our mainstay during a market situation like this, we enter in stages to get the lowest price this week. We will not waste a step like this, as the saying goes, when you have drawn a conclusion, it is a wise decision that you have made.

Being stuck on a decline will make your DCA chaotic if you are in a bull run situation or when you don't find a decline in a month or so that you should do DCA once a month, I think it will really disturb your consistency.
The $25k price is a downside target this time but I think it's quite difficult for bitcoin to break, there will be a price reversal at $26k because that is the strongest support, If you still have your DCA budget today maybe you need to buy a few percent of bitcoin your total funds this month, if you only wait for the price of $ 25K you will wait for the next cycle.

Some people like to buy at the very top, when they see such an opportunity to take advantage of they will rather overthink the whole process and keep imagine to buy at the bottom.
They are probably waiting for 25k btc because a little bird told them so  , only the smart and wise will dca anytime btc dips.

Indeed, DCA was very effective in taking the opportunity to buy bitcoin at the bearish trend at that time, although of course there were many concerns about price fluctuations that might fall deeper sometimes overshadowing our minds, but it turned out that timing was the best decision.
In the golden opportunity stage, we basically don't know when it will come and what price bitcoin will be, we will know if the price has passed like November last year, but if you have an investment fund of $ 500, you should use 70% for DCA and 30% for purchases when the price drops, what we might consider is a golden opportunity to buy bitcoin at a discount like today.

It's a bad decision to invest relying on other people's speculation.

Unless you are in for the short term if not as a long-term investor, dollar cost averaging (DCA) this is because it will be of a great effort if you can take that journey of becoming a Bitcoin long-term whale, this is because in the next 2 years from now, bitcoin price is going to be relatively twice what it is right now and this is due to several factors such as the Bitcoin halving in 2024 and the sec policy on interest raise this and many more will affect the price of bitcoin positively.


So DCA at this time may not be the best decision unless you are a passive trader, who may still lose all the DCA profits in one trade, this is how trading works and what it has produced in the reality of things, that is why trading is thought of as a gamble and should be avoided.


Aside from that, holding Bitcoin at this moment is the best and this is a discount price already since Bitcoin touched 30k+ in the last week before its current correction mode.

DCA is the key; I don't have anything to lose as long as I keep DCAing. So while waiting for the golden opportunity, I will still be accumulating on dollar cost averaging.

At the end of last year, when the Bitcoin price was very low in the range of $16k, there were speculations of $10k, and because of that, a friend of mine refused to buy. He said he was going to wait until Bitcoin price dropped to $12k or $10k, and that is when he would buy. Unfortunately, his speculated price did not come, and he didn't buy. It was even this year that he bought when the price was now $22k. So had he accumulated with DCA even while waiting for the speculated price, he would have made more profit by now, but he was just waiting for the golden opportunity of buying at $12k. So, out of experience, I have learned not to wait but to just keep accumulating while still waiting for the golden opportunity.

that's right, I've been waiting for moments like this. for a long time holding bitcoin and several types of tokens and hopefully this investment will bear sweet fruit.

Absolutely! I always have my eyes open for a good opportunity to buy the dip and HODL. It's like hunting for treasure, except the treasure is Bitcoin, and the map is the market charts. I'm excited to see what this opportunity holds and ready to pounce when the time is right.

Let's get this crypto party started!

To all who like to Buy the DIP, and DCA. There's another Golden Opportunity coming, although it might not be as golden as low prices of November, but a good opportunity nonetheless.

 

ARE YOU READY?

Just a reminder we are in a 10% dip, if ya have any extra powder this is good time as any to supplement your dca

Bitcoin happens to be the most suitable investment for small-scale starters who are looking to grow the profit in the long term with their relatively low percentage investment amount, take for example someone who wants to accumulate a total of 14k worth of bitcoin in a 2 years time frame with an annual income of 50k this the 14k may some up to 7% of his total annual income and it will take consistency for the investor to be able to follow through with the investment plans since there may be some unforeseen situation that could limit his purchasing power in the long run, but it requires a lot of efforts and calculation to be able to set out such an amount to build up your portfolio and since Bitcoin is an unpredictable asset that has a volatile market value it becomes hard for those working against it market to take investors by surprise to put out efforts that could truncate the efforts of the investor who. is looking to solely depend on bitcoin to cash in on it long term potential and possibility.
But above every other asset Bitcoin should be placed at its highest priority rate, since Bitcoin is the most visible investment for newbies or start-ups who are looking to build multiple wealth streams within the next couple of years to come.

Well, I think not everyone has good knowledge of how to invest effectively and grow sustainable wealth, even when they are not working. Bitcoin is one of the best investment options to be considered when one is trying to venture into investing their income. Although we are full of speculation with the Bitcoin price, just as you have said, I just think people should not carry all their eggs in one basket. It's always good to invest in different assets; for example, landed properties are a good investment, but the thing is that some people just think they need to only invest in one asset and do not know that they should have different investments so that if one fails or does not yield the desired results, they will still have one to depend on.

Some years ago, I lost my money to an investment scheme that promised to pay me a 20% monthly return on my investment, but they crashed out and I couldn't get my money back. There was this elderly man who invested all his entire life savings and those of his wife into the same investment scheme I did, and according to him, the money was about $20,000, but all was gone. I learned the lesson of not investing only in one asset from that man's experience. My money was not much to invest in other thing at that moment if not I would not have invested all my money with that company, my plans was to save up from the monthly profit I will receiving and use it to invest in other assets, but was unlucky.

Also, often times, people forget to use the DCA strategy to invest in bitcoin.

Well each person is going to have a different basket of options that are available to him her based on his her situation.

If a person has a total current investment portfolio of $12k, and an income of $24k per year, s/he might estimate that if s/he is able to invest 10% per year, then it will take him/her an additional 5 years in order to double his/her investment portfolio from $12k to $24k.. and therefore have a years worth of value in his/her investment portfolio.. .so then the question might be how to allocate that investment portfolio, because some folks believe that you need to get your investment portfolio up into the 20x to 30x arena (of your annual income) in order to get to fuck you status or some kind of an ability to stop working.

So then if it takes 10 years, just to build your investment portfolio to 1 year of income, then there are some needs to figure out how to allocate in order to build faster, or maybe to increase your income or to increase the percentage that you are able to invest.

Bitcoin may well have more flexibility to invest, and of course, each person wants to be careful that s/he is continuing to build the total amount of his/her investment portfolio (and taking advantage of compounding) rather than losing principle along the way, and then not really being able to reach something like a 20x to 30x goal.... and sure maybe any of us can profit from not getting to those 20x to 30x levels, and it is possible to still prosper with less.. but if a goal is to be able to stop working and to still be comfortable, then it may well be good to consider how much it takes to get to those kinds of goals and how to allocate in order to attempt to balance the risk and the reward, which also likely means that there are allocations to various assets (and I am not referring to investing in shitcoins.. but sometimes property, stocks, businesses, commodities, forms of cash).

It is great to see that you have developed good financial values that can help to navigate through the journey of world of  Bitcoin investment. You are absolutely right that it is very important to develop ability to resist temptation of selling too soon and getting too greedy is crucial for Bitcoin investor. Over reliance on anticipated profits and lack of knowledge can lead to wrong decision, so it is important to continuously educate oneself about financial market and to be aware of risks involved. Additionally, accurate financial  approach that can provide extra liquidity to sustain you through long  term journey of Bitcoin is equally important.

Yes, I totally agree with you, man, there is no guarantee institution that bitcoin will give the highest price again and there is no guarantee that indeed you will be rich if you continue to invest in bitcoin into the future and that is only based on speculation from the results we analyze so that it creates a belief that bitcoin will give the next highest price, I myself went through it and studied it long enough so that subconsciously I have faith in the price of bitcoin that will continue to increase towards the future from what bitcoin has ever touched in the previous cycle, and the only guarantor in my opinion is your beliefs about bitcoins that you made yourself for yourself.
In a general view it is like an asymmetrical bet, as well as the possibilities of shamanic sentences to its customers and the mindset if you shelter you will become rich if you have a lot of property for rent but still be destroyed if a natural disaster destroys your property, that is I think it depends on the beliefs and views of each.

Usually, traders will always take advantage of the momentum of this correction to buy more Bitcoin because their goal is to take more significant profits, but I, as an ordinary person, also try to buy Bitcoin during today's correction and not for me to sell again in the near future. But I bought it because I'm starting to like Bitcoin and I will keep it for a long time, because some people who love Bitcoin will definitely not sell it in the near future even though they already know that this correction is only temporary.

In this month the price increase is still much stronger than the correction, because the current price after correction is also not too far from $ 30K to $ 31K and this might be an indication that the correction will not be strong enough this month, I also hope this correction not very strong on Bitcoin although I'm buying at this point not to experience direct gains on Bitcoin.

Our DCA can be further increased considering that the current price is getting corrected due to today's decline but this opportunity is good for anyone who can buy faster but if you are still using the DCA strategy, stay calm and it must be according to your portion, how much should you be able to afford at this time. we can buy slowly and we don't think about quick profits.

Even though the volatility is still quite strong we don't know with the correction that will occur whether this will be sustainable or just a moment but fundamentally it will still be enough with a reversal at the price of $ 30K later, we still have a long way to go to see bitcoin grow more just hold on to what you have while it builds many years with bitcoin.

I'm not thinking about gains this year, bitcoin will be worth a lot more in the next few years, just HODL.