Topic: Buy the DIP, and HODL! - page 518. (Read 135878 times)

Well I quite understand what you are saying my friend, basically every market participant has his own way to invest wherever it is. Okay maybe you are one of those who are always patiently waiting for significant bearish conditions to then open an investment, and well that is indeed quite good if you can patiently wait for the moment. Honestly, I'm not saying that's the case, and maybe most market participants will do the same thing, especially for long-term targets. 

And yes I agree with the opportunity you said, because indeed now is the right moment to then buy or collect more bitcoin, we can see now bitcoin is experiencing a price correction and the price is now almost touching support a few months ago. So basically if indeed you have the ability financially to then allocate a little of your money for bitcoin then I would say this is the right moment that you can take, but well I hope you will use money that might not be at risk if it is lost, because as we know the market is very volatile so at any time you can experience losses if the market is not in your favor. You use DCA, I agree to this because I think this is a strategy that is more supportive of your financial condition and with DCA it is safer.

I agree with you on the DCA strategy, as that it the strategy I intend using to accumulate more bitcoin to my bitcoin portfolio as a newbie. On Tuesday, I took a bold step to my buy first bitcoin, you can see it here
I am very excited and I have prepared myself towards a very long bitcoin journey based on when I reach my bitcoin target. I have a job at hand, and I have assigned 10% of my monthly income for DCAing consistently till I reach my bitcoin target. I have thought deeply of how I can be able to make my bitcoin journey easy and successful during my accumulation period and the most possible way is through DCA.

This is the reason why I have come back to the thread to become active so that I can be on the same page with experts on how a newbies can grow his bitcoin portfolio using the right method. I love the DCA method of accumulating bitcoin because it will motivate you to always be ready to buy, no matter the price of bitcoin, because at the long wrong, you will still be able to make profit.

Anytime you say…
This goes beyond anytime as sometimes, the motive could be to buy. With big companies in the picture, your expecting huge buys that could lead to a slight pump in price with a higher demand of bitcoin.
If the reverse is the case where you have them selling, there you could talk about a slight dump.

Having to place an order to execute at the $20k price isn’t a bad idea as, it executes for you without you focused on the chats and you won’t get to miss the price mark but, you get to realize this is you having to leave your money on an exchange. Even still, there isn’t any much assurance that price might dump to that price and you would be loosing on the value you would have got them from that money should bitcoin continue to pump as, you would definitely have your coin in an altcoin, maybe stable coin at that.

Looking at the price history in 2015, the bitcoin price range was $300 - $400 when the price was still low, but unfortunately I was not in the bitcoin environment at that time because I had only just recently become acquainted with bitcoin and delved deeper into it.
I wonder if DCA was more popular at that time than it is now? That's not a problem because someone must have done it.

Currently it is impossible for the price to return to baseline, for us buying bitcoin units is not possible due to limited finances, so the right way is DCA with a few dollars input, say $20 - $50 for now because it is still possible for me to spend that much money for bitcoin, the rest can still be covered by the necessary needs.

Well buying more regularly is much better than a lump sum.

What is clear is that I choose a lot of bitcoin.
Talking $333 per BTC we will never experience that again, right? But you just gave an example from the past, and now I think just relying on a $20K drop then I can increase DCA during that price range to get more satoshis.

I will rather be the second guy who used DCA to accumulate 100BTC because it is an easy way for you do accumulate without facing many challenges on the price movement of bitcoin. The only challenge that someone using DCA method is when the source of income is not steady, but if it is, you will worry less because you are sure of accumulating a significant amount in a long period of time. Another thing that I observe is that those that prefer to buy at the dip, are not prepared to increase the number of their portfolio with a significant amount because nobody knows when bitcoin price will dip. But they think it is the wisest strategy unknown to them that the dip will come like a thief in the night, when they have spent the money, they intend to use because they have giving up on waiting for bitcoin price dip or an unforeseen circumstance came to devour the fund planned to use for DCA. This is the reason why I said that they are like people that are not prepared or ready to invest due to the current price of bitcoin at that moment.

On the other hand, an investor that has made up his mind to DCA weekly or monthly has set his goals and has also prepared to keep on buying bitcoin disregard of the price at any given period. This shows more commitment to investing than the one that only buy during the dip. If while you are DCAing and the price of bitcoin dips, It is also an advantage for that person to increase his order because he is ever ready to accumulate. Someone that uses DCA method is open to use all strategy to accumulate bitcoin than, as long as he has a bitcoin target within a period of time. Someone who buys at the dip, he is only open to buy at the dip, which is a weak strategy to use to reach your bitcoin target within a given period of time because the market movement controls when he buys.

Yes, we must be able to stick to what we have planned at the beginning, and indeed I have also felt that inconsistency makes everything fall apart, although I felt it was not in terms of investing, but after what I experienced I came to believe that something we started we had to finish, or in other words we must be consistent.

It can be said that we really benefit from this kind of strategy, we are not led to allocate a large amount to have a number of bitcoins, but if there is a will, we can do it with smaller money, which is in accordance with our abilities as someone who wants to have a better future of course.

Hello rachael9385 the advice you gave is good enough to continue buying in the dip and holding in the long term. Everyone will take advantage of this moment to accumulate more BTC and of course we all have the same hope, namely expecting prices to be different in the coming months. Apart from accumulating BTC at the current price, of course you also have to make purchases in stages to accumulate Bitcoin. Falling and rising always happen and at the same time we can buy BTC at different price levels.

I think in this thread those who bought had the same goal of holding it long term. In fact, some of them are not too interested in aggressive investment techniques in accumulating BTC because they aim for cheaper prices in all their entries by doing it with DCA.

Looking at what you said at the beginning of the sentence and at the end, I actually think it has a contradiction.
You say having a strategy and not rushing is a must-have but on the other hand you want to try first by investing $100 every time you have a salary and dividing it into several months.
Honestly, I don't really understand your current strategy whether you want to try to do DCA or lum slump like my discussion with @Baby Shoes before.
I don't consider it a mistake but I think you should start trying to be clearer in your investment scheme especially if the goal is DCA.

If you feel that it is convenient then it is back to yourself but in this case the main focus should still not be lost where the DCA that is your goal from the beginning must still be carried out properly and not get interrupted at the time and amount that you have agreed with yourself at this time.
I agree with what you said in the last paragraph where indeed DCA is one of the right investment instruments for those of us who have minimal funds because apart from we can add to our portfolio it also does not interfere with money for other needs every month from the income we have from salaries because the investments we make are already in the DCA budget plan from our needs.

I was simply pointing out to you that the events of next year such as halving, Grayscale ETF and other ETFs that have the chances of being approved are major events that will make 2022/2024 price profile different from 2023/2024 price profile.

No one can tell for a certain when price will rise and to what extent it will but we use historic data to predict the future. Any time Bitcoin halving happens, there was always a new ATH as price shifts aggressively. So, I expect the same outcome from next year's halving. This is just the basis of my assertion. 

If this is not cogent to you, I wonder if you actually believe that Bitcoin price will ever rise and what you think will make it to rise.

In fact, there are still those who do this especially for beginners because what they see first is the results obtained by others (who are successful) but they don't know how the process others do which makes them tempted by false shadows where the condition is in some shitcoins that actually plunge them themselves.
We must realize that before we start to do something at least we have to do something, of course we must have a view which we will make as a guide material so that what we do remains on the right path. Likewise with investing in bitcoin, of course we must be in a truly adequate plan because our goal is not to destroy ourselves and that preparation starts with us learning how bitcoin works, how the consequences and worst possibilities are in bitcoin and determining what strategies we should do when in bitcoin.
The discussion in this thread if you look closely from the beginning to page 146 there are currently a lot of schemes and strategies that must be done even though we have now agreed that DCA is the most possible and comfortable thing to do.

With the way many people are spectating on the price of Bitcoin is really not doing enough good, Some persons has one or more things to say about bitcoin on how the price will skyrocket in a specific period of time and which are we to believe, all this are from one's point of view.
I believe in less prediction and no particular range at which anyone can accumulate Bitcoin, the price of Bitcoin can skyrocket at any point in time even during your sleep you can wake to bitcoin new ATH. So if we have enough to invest, why not we do it now than set a range at which we feel is much comfortable to buy

Well, it's a concern, but we can't really give them direction because they might not accept it at all and they might say that it's their money so it's up to them. That might come out of their mouths. And well starting an investment without any planning I would say they are very brave for a stupid or careless decision, as you said they will run into problems quickly and indeed this is the beginning of the problem. It's like making trouble for yourself because you are too desperate with a good goal (profit) but the wrong way (without knowledge).

Well obviously it's not a good action if you come only focused on one word "profit" and without doing or reading all the books in the library related to bitcoin to understand all the positives and negatives that are there. Good planning is very necessary, you want to make a profit? that means you have to create various plans to avoid losses there so that your calculations match what has been targeted before. Yes that's right guys, no matter how strong you are in the real world it does not mean you are invincible or will never lose in investing, this is a serious matter of how good your planning is. And yes the point is as we discussed this, if you want to profit it means your planning must be good, study seriously, do market research,
create your best strategy based on your market research experience there, prepare a strong mentality and use money that is supposed to be for future needs and now you already know where to develop money like a hill, namely in bitcoin.

Many people have increased their portfolio with the DCA strategy and I am one of them, although I put in a small amount in my DCA, but I really feel the benefits of what I am doing. It's a small amount that can be said to be money left over from the basic needs that I have to fulfill first from the amount of my income.

Maybe I wouldn't have experienced this if I didn't know this strategy, because I would have thought how to invest bitcoin with big money. But with relatively small money for investors like me, this strategy is very helpful when I invest in bitcoin.

Shower thought. We might also see another "COVID-19 pandemic-like crash", probably caused by bad macro-economic conditions that would finally make inflation drop in many regions at the cost of their economies. Massive lay-offs, slow-growth, recession and stagnation everywhere. BUT what is the cure?

 

The money printer. Perhaps another situation that could coincide with the Halving?

Current Bitcoin price.

The price is going up and I believe it will still come down to $25-100 because the way the price is going up, it is not going up at a good speed. But I believe that before this month kicks off maybe the price of Bitcoin will hit $28k, although the price has been in the $28k range and above but has still come down to $25,948.02, so I guess this is the right time to invest in the dip. This month of September, Bitcoin is moving like this. I am not sure if this opportunity might come again because it has been in this range for over a week. That's why I suggest buying and accumulating more in this present period will be better, believing that the month of October will be different than this present month.

This is really good advice and similar to my journey, yr2 dca was 1.5 times yr1, and every year it increased. It takes a bit of getting used too and when extra money appears you can consider your dca as a place to park it. The main point tho is get going 

Investing without a plan is like walking without a goal, before starting of course we already know where to go and what strategy is suitable for you to invest in bitcoin [DCA, lump sump or you have a different way] What you already know is the DCA strategy here I have discussed a lot and I have learned a lot by reading from several people, especially JJG.

While investing in Bitcoin there is nothing bad as long as you don't sell it, but the problem is your consistency in inputting dollars into BTC, sometimes this is more difficult, including clashing with several other needs, so this
will give you a slight obstacle in investing in BTC.

Save bitcoin for the next 10 years by means of DCA accumulation I think it would be better.
Let's say you put in $25 for the next two years then increase it again to $50 and so on until you have the financial ability to put in even more, don't think about price movements then you go through the halving which will come in 2024 and you will Past the halving in 2028 I think you will have more Bitcoin in your portfolio.

While thinking about this method, I will try to continue without looking at other views.

I feel pity for anyone that jump into the Bitcoin market without a plan, you'll likely run into problems quickly. It's not a good idea to start investing in Bitcoin without knowing a lot about it and figuring out a strategy that suits you. Investing in Bitcoin isn't like being john wick you're not invincible. If you make bad choices and don't have a good investment plan, you'll end up losing your money bit by bit, and before you know it, you could lose everything.


Got into Bitcoin in 2021, DCAing to this day. I know the benefit of holding. A way that I flip my mind on dips is by looking at them as better buying opportunities. It improved the way I looked at things. So, then I win either way! But also, I focus on my long term, I know I want to accumulate X amount of bitcoin in the future I’ll make sure I make the right choices. People just want the benefits in short term, but things doesn't get grown in short time, it needs time and nurture to grow.

We have the bitcoin halving to look forward to! It is always sure to skyrocket Bitcoin's price. It's up to anyone who wants to sell. I'll be on my chair watching the market while others sell. All I know my Bitcoin is a great long term hold for my future!

Well that's right guys, maybe there are some players who come without having any strategy and they might just see what other people have managed to get (big profits), I think that can really encourage them to enter this investment world, especially in bitcoin. But well I say maybe they will just throw money away if they come without bringing any fishing gear, I mean it's pretty stupid if you come with strong determination but not based on knowledge, while any risk can really happen to them (big losses). If you come in a hurry then I'm sure you're probably too focused on making a profit that you're outpacing everyone else. Well of course there are no quick results for anything, I understand that it is indeed the goal of everyone who comes to profit with their respective targets, but it is wrong if you invest with the aim of wanting to quickly profit or even get rich quickly, there will always be a struggle and process first, you want sweet results? that means you have to be able to go through a fairly bitter process here. Don't let you or anyone have that mindset because investing in bitcoin does not give a 100% guarantee, especially quick profits. but I say that bitcoin has given you the opportunity to achieve a brighter future by starting investing from now on even with the smallest amount you can set aside from the rest of your needs.

So if you believe in how high bitcoin is in the future then from now on you can start with the amount you can afford even if it's with a small amount but it doesn't matter as long as you can do it consistently. Well right guys what you have done this will be very useful for your future, you choose to invest long-term and indeed that is more appropriate to get significant profits in the future. That's right, if you don't have a large capital then you can start from what you can afford, it's better to start now even if it's small than nothing or you wait to collect your money first and then allocate all that money to bitcoin, while on the other hand you also have personal needs that are very important to stay alive. So I think that option is not too appropriate to choose, because if you have to first collect money, first it will waste a lot of time and second maybe after the money is collected it cannot be guaranteed that you will get a good price to buy bitcoin, it could be that the price movement is already above and that means you are behind. With DCA everything looks simple especially if your goal is for the long term, but well you have to stay consistent over time.

Yeah, I can not resist myself from imagining someone throwing a punch at their computer screen because their order didn't fill by just a few cents. It feels like being at an auction and losing the bid to a guy for one dollar! Some people try to outsmart BTC and end up losing both sides. You can only hope your prediction is right, but there is no guarantee it will be.

You are right about the danger of overtrading. One of the classic errors that many investors have made till now is trading without a plan and getting carried away by emotions. DCA and SIP might be boring, but they get to the finish line without any drama, and I think we all like that—less drama and more bitcoins.