A good strategy if we can buy dip and sell high, the problem is of course whether the current price has been dip or there is still an opportunity to dip again, and in my opinion the simple thing I do is to immediately buy even though it is more expensive than yesterday then hold so that we has the opportunity to profit when market rising.
We are not talking about selling in this thread.
We are talking about ways to accumulate though buying the dip and also to HODL.. if you run out of money from buying the dip.
Some of us, including yours truly believe that DCA buying is a superior strategy to buying the dip, even though surely both buying the dip and lump sum investing can supplement a DCA strategy.
I guess, this is the best opportunity people can use to buy bitcoin in this bear market and hold with bold mind of making profits in the future, because there is a great reward for those that will exercise patience with the current price situation.
HODL is still the best strategy , while others are not believing yet there are so much that we still see in our time now , from 2021 Bull market and now that we are near or i mean in Bear market.
There are many signs some investors have seen to believe that next year 2023 will be a better year for all investors that took their time to invested in Bitcoin because Bitcoin still remain the king among other cryptocurrencies,
what signs are those? investors believe in signs ? is this really a thing in investing?
which will be very easy for those that invested in bitcoin to earn well from their investment when the price move higher in the crypto market.
easy investing? lol you are kidding here , there is no easy way to
earn in crypto but to risk and wait.
1) Seems to me that DCA is the best strategy.. rather than HODL.. but of course, what is the best strategy may well depend upon where any of us might be at in terms of our bitcoin journey, and if we have already accumulated a lot of bitcoin, then we might feel that we do not need to accumulate anymore bitcoin, but even in that case, buying on dip might be a good strategy, even a better strategy than HODL.
2) Maybe in the end of your response when you mentioned "crypto" you miss spoke? Fuck crypto. We are talking about bitcoin here, and these strategies to invest long term apply to bitcoin, they do not necessarily apply to shitcoins.. because shitcoins you need to worry about your ins and your outs and getting rug pulled at any time. So it is way more difficult to come to a conclusion that investing in crypto or any shitcoin can have a long term investment thesis.. so we are not talking about that here.. because focusing on bitcoin and having figured out that bitcoin actually does have a decently strong long term investment thesis is likely difficult enough than to suggest that investing in "crypto" or some random shitcoin is even close to the thing that we are talking about here, in this thread.
If we fixate on price movements that are still stuck in the circle of $19K - $20K or $20K - $19K, it will make us bored and very easily influenced by the situation.
Yes, much better to be hot and heavy over $10k massive dip and then whipping ourselves into a frenzy to $25k before middling ourselves in a seesaw between that range for the next year or so, right?
But if consolidation and sideways are going to make us bored and "easily influenced", maybe Bitcoin isn't for us?
This is a very good way of framing the seeming dilemma, buwaytress..
Part of the reason that folks get so worked up in regards to various BTC price changes is because they engage in a kind of behavior that involves betting and trying to figure out short to medium price moves that are probabilities at best - in which even if we might believe that the probabilities are on our side, the price ends up moving against us... or in a way that is contrary to our bet.
I am not proclaiming that any of us would be exempt from mistakes, but there are ways to attempt to prepare ourselves financially and psychologically to have plans that might involve ongoing BTC accumulation through DCA or to set our buy on dip amounts, and at the same time, we should not be failing/refusing to buy now (or was it one or two days ago when BTC prices were in the lower $19ks?) in order that we feel adequately prepared for UP too.
If we are pretty know that we have $3k in cash, and we are pretty sure that we have around $2k per month coming in and we have around $1,500 in expenses (including keeping some money aside for our emergency funds), then we might have confidence that we have around $500 per month that we could invest in bitcoin, so we might consider that we have around $6k in total over the next 6 months that we could invest into bitcoin, and we can choose how to do it based on a variety of considerations that include considering whether we have already bought some bitcoin or are we just starting out...
Maybe we would be more aggressive if we were just starting out, as compared to if we had been investing for 6 years (I know I probably should not be using you as an example, since you assert that you had some fits and starts over the past 6 years).. but anyhow there might be a difference for someone who might have already accumulated a bitcoin or two, versus someone who has no bitcoin but has confidence that s/he is going to be able to invest $6k over the next 6 months.
If we make a plan and strategize regarding how we are going to use that $6k over the next 6 months, we will be better off than if we fail/refuse to plan and then end up panicking.
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Contrary to what you believe, or probably what you want to "believe", no I am not playing the victim card. It's simply not me.
Well that's good. The evidence did not seem to support such a conclusion.. from my perspective.. but whatever.. You do you.
I personally believe that each person should stand up for himself, especially against bullies, name-calling trolls, and gaslighting charlatans in the forum.
Sure. You believe that I am a bully, name calling troll and a gaslighting charlatan, or are you referring to some other unknown character/member that might exist?
BUT criticism from a Bitcoin OG/Legendary-Whale-Investors such as you, who is a positive influence for the whole Bitcoin community, not just in this forum, is OK for me. It's probably I respect you too much. Is that wrong of me?
I am starting to forget if I was even criticizing you very much, except your word choice. You know that we started out this back and forth because I was saying that your words about you being the "most optimistic of members" was probably not true or verifiable in the way that you had framed the matter, so why not just take the criticism and move on.. or maybe if you were disagreeing you could say that you really believe that you said made that assertion correctly... Yet, I made a suggestion that if you were to have had merely said something like "from my perspective, I believe that I am amongst the most optimistic of forum members," then I would have had less space to criticize your comment, but I still cannot guarantee that I would not have had reacted to such a claim, and said something like : "you = optimistic, give me a break" hahahahaha
It's not really that big of a deal, and maybe I am being too much of a meanie. I don't really mean to be a meanie - especially it was not even that major of a starting point that had gotten us into this back and forth and seemingly devolving matter.
In the end, you do end up doing what you want, so I suppose even if you were to say.. "I am going to continue to assert that the facts establish that I am amongst the most optimistic of forum members," then there is ONLY so far that I can go with responding to that kind of a statement too, except to just assert that I don't believe it... or that our opinions differ on the topic your assertion of greater relative optimism.
