Topic: Buy the DIP, and HODL! - page 54. (Read 138918 times)

Maybe best not to associate cryptocurrencies with Bitcoin and be specific directly if you mean in this statement about Bitcoin. We are discussing Bitcoin here and best not to insert anything about other altcoin since for sure that no people will bother to buy those crypto thoughts since people are in focus with their Bitcoin investment. Mentioning cryptocurrency can mislead people, so don't associate with other coin so that people will get directly on what coin you are pointing here.

One solution for them to eliminate those fear what you have mention is to erase any trading thoughts in their mind. If they set up straight up goals like sealed their Hodl plans for sure that they would never worries those pump and dump situation.

What determines or make one a good long term or successful Bitcoin holder, is not only having the ability to withstand and over comes selling pressures when there is a dip in price during bear season it is also has to do with over coming the temptation of selling even when in profits during a bullish season, there are weak hands that can sell there Bitcoin during bullish season when they are supposed to be increasing their Bitcoin size and not only during a bearish season, that is what you should know too.

I also quite agree with you on this one because Bitcoin does not have to be replaced with other words as mentioned, moreover saying the word "Bitcoin" is not too difficult and will also be easier to understand by everyone who reads it in any thread including this thread where every discussion is more directed towards Bitcoin. In addition, the word cryptocurrency actually refers to something general so it does not refer to one coin like Bitcoin, so I quite agree with your direction on this one because it makes the discussion not lead to other things that may be less necessary to discuss here.

Before starting investment, many may be hesitant in the initial stage due to which many are disagreeing to invest and many are afraid to invest. These trends are mainly due to their lack of knowledge about investing or Bitcoin. To those who are afraid to invest in Bitcoin, we should properly explain that Bitcoin investment is the safest and if you can invest in this Bitcoin for a long time, you will definitely get success from here. Since bitcoin investment is to be done for long term so make it long atleast 4-6 Year.

They should also understand that investing in Bitcoin does not require much knowledge or even much money. A person can continue his investment by attaining financial stability or by finding means of income and proper planning.

There is need for you to be specific when mentioning cryptocurrency because there are lot of coins in the space perhaps it is a Bitcoin discussion thread hence the need to more specific as not to deviate from the concepts of the thread which is basically emphasizing on Bitcoin, if it is Bitcoin it is best you say Bitcoin than generalizing your narratives with term cryptocurrency. However, volatility is an inherit trait of Bitcoin that real long term investor tend to get used to and maximize every buying opportunities they find in the market.

In fact, discipline is very important in holding an investment for a long time, the fluctuations of the cryptocurrency market are absolutely normal, it will always fluctuate, that is why we have to try to remain normal during these fluctuations from the beginning, there are many who panic and sell at the slightest fluctuation, which usually creates obstacles in their path to success. As a result, they always lose the opportunity for success and always lag behind.

So, a investor will be successful only when our holding is long-term, so if we can hold for a long time through DCA with discipline and patience, we can definitely achieve big profits. And for this, we must make strategic decisions, and start holding with proper planning, and must keep emergency funds in the account, so that if we face unexpected expenses, we do not face any problem like stopping the holding.

An important aspect is discipline and I think this is what you are trying to point out, it is a quality that every investor needs to have to be a successful bitcoin holder because the journey is not always rosy and it will take a strong mind to withstand and overcome the selling pressure when there is a dip in price during bear season. A disciplined mind will achieve a whole lot over a long period of time with bitcoin, there is no need to panic and sell when things are not going well you just have to keep in mind that there will be ups and downs during the journey.

To avoid selling we need to strategize and plan our investment properly and not invest money we intend to use for other things and we should always set aside emergency funds to cater for unexpected expenses to avoid liquidating assets prematurely but most investors take it for granted and feel it’s not a necessity.

This is why as a long term bitcoin investor that's just coming in to the bitcoin accumulation game, you need to set up an emergency funds to be a back up to your bitcoin investment to take care of unforeseen circumstances along your way up. Such funds is only used to take care of real emergencies when they arises so that you don't end up selling part of your bitcoin at loss, if the price of bitcoin is below your entry point.

A brand new investor without an emergency funds can set it up immediately he starts his bitcoin investment. After figuring out how much is your discretionary income, you can share it into two and use one part to start investing in bitcoin through regular DCA weekly and use the other part to be building your emergency funds simultaneously with your bitcoin investment. You build your emergency funds until it gets to at least three months of your monthly income.

However, there are various back up funds, if you have built your emergency funds, you can go ahead to build your reserve funds as back up funds.
We are not talking about short-term shitcoins that are useless to put money in because that's gambling but only bitcoin that can be invested in for a long time for the future. Don't mislead the newbies who are reading this thread.

When it comes to holding then this might really sound or look so simple but on the moment that you are tending to do it and sees out actively on how this market behaves or works then you will really be having those times or moments that you do become skeptical on trying out even on having that Dca or making up some buybacks but actually these things wont really be that a problem if you've been really trusting up Bitcoin in the first place. For newbies then it is that not surprising that they do become that unsure on what they are dealing into even we do say that Bitcoin is really that worth to hold for long term but due to lack of experience and knowledge towards it then its not shocking that they will really be doing those impulsive and sudden sell on the moment that they are seeing their portfolio becomes negative.

Buy the dip and hold will really be that not so simple even into those experienced ones. We do know that not all having that financial capacity when it comes to this manner on where there are those who are really that just having enough on the amount that they could invest into. If the market goes red then they do just simply resist that temptation on selling out to cut losses. Experience is something that you will really be that giving out some edge and will really be able to dictate out on what you should gonna do. Our investment or portfolio will really be composed of in between long term coins and to those which are good for short term.

To be honest here, your write up is not that clear and can be confusing somehow, but I think that I understand what you are trying to say, if am not mistaken, you are trying to say that those people that sold their holdings were forced to, due to unforseen circumstances that arises.

In my own opinion, it's crystal clear that anyone that falls for this doesn't plan his holdings very well, because for a Bitcoin investor to be successful in his holdings, he actually needs to understand first that buying and holdings are two different things, and holding is quite difficult if you don't know that having a reliable source of income and having and emergency funds that can address those unforseen circumstances that may arise, so if you don't have this already in place, at some point you will definitely deep hands into your holdings just to address some serious financial needs.
So in essence of what am trying to say is that without having a source of income and an emergency fund, it's very much likely that at a point you will sell your holdings even when you never wish  or want to.

Actually confidence is a tool while many failed and some too with hood confidence overcome the force of selling off their holding, but there is one aspect I do consider while most holders sell off their Bitcoin the area of unforseen circumstances and loss of target over speculated period of time, some holder have some speculation while they hold that certain period what they are holding should be at a certain price and when the reverse become the case and their alternative failed them they are left with no option than to sell what they have. Though it's very wrong shall but to say when the need is not available the available become the need could be their situation at that point because some is not as a result of clear eye but been instigated by unknown factor beyond some emergency fund mostly life threatening issued.

You already said it that anyone knows knows it potential but why there's still a fear thought's here? I guess this one is only applicable if you don't have knowledge about bitcoin and you must do something to correct all your negative thoughts you have. If you are into the prices and volatility for sure that you will have this fear to lose their money thoughts. People should set their standard high and do long term investment since if they aim for that matters and execute DCA for sure they would never entertain any cheap thoughts about market pump and dump.

Many speculation before that Bitcoin price would really come up to this level, but no one is really sure about on when this situation to happen. But good thing right now that Bitcoin is showing some positive movements which leave good marks to people that this is not the same as what they thought so if they still play around and still not confident about those good movement happen, I guess this will add to their regrets in life especially that Bitcoin is already showing a good opportunity to anyone. It maybe expensive to buy Bitcoin as a whole but they can acquire small fraction to start their investment.

I think El Salvador is another perfect example of how patience and consistency with Bitcoin can yeild great results. As you have stated clearly Bitcoin is definitely not a get rich scheme and you don't expect to blow in just an instance of getting your on Bitcoin although many newbies are fixated on such taught because of the orientation and make believe that they would have encountered through social media but the truth is with Bitcoin you would definitely learn to have patience, plan, consistency and ofcourse tangible source of income .

Starting your Bitcoin investment journey without any delay is probably the best thing anyone can do for himself because no matter how long you wait for the price to be suitable or good for you would probably just end up missing more opportunities and moreover if you have check the market price history of Bitcoin then you would know that wasting time isn't something you ought to do as Bitcoin has been continually going up no matter all the dip and bear season that it has experience @2009 - 2024 price result is showing higher as it ever moving forward.

The part where you say, "you will not have any regrets if you lose this fund" could mislead people. While it's true that you should only invest money you can afford to lose, it’s risky to frame Bitcoin as something you can afford to lose without consequence. People need to consider their financial priorities carefully. Remember, you mentioned using floating cash but we should also emphasize planning and risk management. New investors might interpret floating cash as an excuse to be reckless with their investments. They should strive to make proper planning and prioritize emergency funds as it is important too.

DCA is the way to go that is why we discuss it in this thread. It is a good strategy for both the new and old investors but it's not the ultimate criterion for a successful investment. DCA becomes powerful too when we combine it with knowledge, realistic expectations a clear financial plan, and more depending on our financial goals. The fear of loss isn't just about Bitcoin its about mindset and preparation without impulsively swinging into action.

Those investors who hold from bitcoin <$100 had confidence in it since then and that made them rich today, not all had the confidence to continue the journey , it dipped massively at some  points and  some investors sold all of their holding while some sold large percentage for sure but it'stheir investment, they might not have regrets since they made profits but they couldhave made more though, if they had not lose trust/confidence  in it..

Hence, it can still be cheap at the moment compare to when you start seeing it @500k .. true it's still expensive to accumulate good amount as at the current  price but accumulating it continously  can give you a better amount over time(what matters is that you're willing to hold for long) and how can you do that?? It's simple just practice what the thread is all about along with the DCA strategy, accumulate for cycles and check your portfolio (you will see how far you've come) ...

We do have two strategies from JayJuanGee on accumulation and sustainable withdrawal. I do agree with your point that one should not sell unless he achieves his desired target of Bitcoin and one must be bullish in accumulating phase to get desired number of Bitcoins. I rarely sell my holdings unless I have some urgent need. One more important thing is that I haven't reached my desired target of Bitcoin but I am still putting all my effort to get there. My investing money might be small but its going regularly into Bitcoin.  

Why will a new investor sell part of what he just accumulated, it means that he started his bitcoin journey as a trader and not an investor that he is claiming to be. Such person must be distracted from only buying and building his bitcoin portfolio which was his main purpose. A gambler must act like a trader because they are not ready to sacrifice their money into bitcoin for long and hodli but feel that they can outsmart the market but it will turn out to be that the market will outsmart them and take the little bitcoin they have being accumulating.

Bitcoin is not a get rich quick scheme but you are only investing in it to give you hope in the future. So why will you mess up with your future hope by not taking the right step on building your bitcoin portfolio through regular DCA every week for 4-10 years and above. If you're in your accumulation phase, you shouldn't sell a dime of your bitcoin, because everything starts one day, and before you know it, you will start selling from time to time making all your effort worthless. Look at MicroStrategy with all the bitcoin he has acquired, he still bought 21,550 bitcoin today to make his total bitcoin holdings to 423, 650. This should motivate you not to sell but follow MicroStrategy foot step, because Amazon shareholders has been motivated by Michael Saylor wisdom. Investing in bitcoin and hodli for long is wisdom and many people will remain poor because they lack this wisdom.

You sound more like a trader than a long-term investor in bitcoin because investing in bitcoin for the long term has nothing to do with market analysis. For you to invest in bitcoin on a long-term basis, you just need to figure out if you will have discretionary income and if you will be accumulating bitcoin on a weekly or monthly basis. Bitcoin has been in existence for a very long time, and even when a lot of rich folks have talked shit about bitcoin, bitcoin keeps proving them wrong, so there's nothing to be afraid of in starting your bitcoin investment if you don't use all your money to invest in bitcoin because it will not stop you in sorting out your daily expenses. It is when you invest all your money in bitcoin that you should be afraid because you will find it hard to solve your daily expenses, and you have no other choice than to sell your bitcoin cheaply to survive. Always stick to investing in bitcoin in such a way that it will not stop you from sorting out your daily expenses so that it will not get you off the game.

I thought the only time someone loses money in Bitcoin is when he sell? If you buy Bitcoin at a certain price and there is  dump like you called it, you have not lost your Bitcoin because the quantity will still remain the same. Loss will happen when you become afraid as a result of the market going down so you decide to sell your Bitcoin. This will then be counted as a mistake because such a time is a opportunity to buy more Bitcoin at lower prices. I just felt I should add this so that we will be clear on what constitute profit and loss in Bitcoin investing.
 
Furthermore, if you are using the DCA method, you will not really bother if price goes down because you are just concerned aniut buying more  Bitcoin at the right time which you have already decided before.

Anyone who has delved into the history of Bitcoin knows how much potential Bitcoin holds for the future. However, people still have some fear of virtual things, so we can't put as much trust in virtual assets as we can in any physical thing. But regret when Bitcoin makes new ATH. Since 2017 we have expected the price of Bitcoin to reach $100k and it will be realized by the end of 2024. But how many bitcoins have we been able to hold since then? That's our mentality. Now we can have full confidence in Bitcoin but Bitcoin is very expensive due to which it is not possible to buy a good amount of Bitcoin even if we want to.