Topic: Buy the DIP, and HODL! - page 55. (Read 129437 times)

You seem to be misunderstanding Odohu a little bit, there is nothing absolutely wrong making certain level of preparedness in terms of buying the dip in your ongoing dcaing, so far it will not affect your other living expenses or make your investment look like a burden to you, just that when proper planning are not made towards buying the dip one can use the money that not meant for investment to make purchase or probably over do it because it can be very tempting, emphasizing buying the dip along side  dcaing it not for everybody alot can decide to to remain focused on their DCA as not to be distracted and have a mismatched by default.

The price of Bitcoin shouldn't stop you from making your purchase besides Bitcoin price is not stable as it always fluctuate, with the price of Bitcoin you mentioned before you can accumulate which is $65k and the current price of Bitcoin now which is $66k it simply means your plans is to buy Bitcoin when it is dip which is not actually good for some one who is still growing in his Bitcoin journey, so it means you won't buy Bitcoin if the price moves above $65k which has already happened.

Since you are still maintaining your DCA strategy you can still do your lump sum regardless of the price of Bitcoin since your plan is for long term so you can have enough amount of Bitcoin in your possession which is your primary target and hodl for the future.

Basic understanding is enough to start your bitcoin hodl journey since you will not care about the prices especially if you do DCA,  your main concern is your accumulation and not those unnecessary things that can bother your focus.

But you can continue to learn while on process of accumulation since its important to start since if you wait for long  time to learn a lot of things then provably that you will just face some delays since provably you will doubt to start especially if you see the market is dumping. I understand your point, but if you are at the point that you are sure to invest with bitcoin and already know that this is good asset then start to invest. You will only loss a lot of money if you trade it , but if you are buying and hodl it for sure the risk is so low since your money is just there waiting for the timeline you set to sell it.

They still need to understand the market before investing.

Someone who's investing without basic knowledge is going to have emotional hiccups and might panic in the end. That's why if there are beginners there, I still advise them to at least learn and understand what volatility is before buying Bitcoin.

It's hard to buy something that you don't understand even if the crowd says that it's fine.

Long-term investment is better applied for every investor, they only need to make purchases and hold. Yes, maybe the points you make are quite good, but I think investors will not expect profits in the near future unless they have invested since 2015. So far, many old btc wallets have been active again by transferring their btc to the exchange and the btc wallet is 15 years old, where the owner made his first deposit to kraken by selling a little of his ownership.

Source: https://x.com/ArkhamIntel/status/1848450924773040151?t=XDEGBajc95rOl5csLoBKTA&s=19

So in conclusion, if we invest in the long term, there is an opportunity to make a profit and it is not impossible because we have seen btc continue to rise in price.

Wasteful withdrawal fees can probably be prevented, by withdrawing it every month compared to once a week. So the main thing to do, can we fully concentrate every week to keep buying bitcoins.

I'm bullish and have been for a very long time, I have a criteria that will flip me to bearish and I dont see that happening this cycle. Have a look a through JJG's posts about pricing your stack based on the 200 wma & a +/- % set amount. I used this as a basis for my criteria.

The key lesson to my bullishness was going through that period from the last cycle ATH down to the current ATL, I was in the red for much of that period but I continued my DCA journey. Now this period of time helps me deal with the current time much better, I have a % under the WMA that I can attest to being ok with. Past experience helps with future performance :-)

The price movements day to day are not really that important to me to be honest, so when I think about the concept of bullish and bearish I think more about large periods like years over the current 4yr cycle where one can be either or. This bullish/bearish flip we see amongst forum members every couple of days is a waste of time for an accumulator.



F*ck I thought my post was airtight, point conceded lol






I dont know where you are in your own journey, but one strategy I used this year a lot of was taking those large injections of cash and increasing the DCA amount for set periods of time. Main reason so I wasn't waiting for X price to buy in case X price never materialized. So if you still in accumulation that maybe something to think about. I get it we all want a lower price to buy at with large money injections, but I think in the grand scheme of things there is not going to much different between buying at 65k or 69k when you start to look at it from the future perspective of this cycle's ATH.



Cheerleading a part time or full time job? Do you wear the dress too?

From my empirical point of view,  i think you might be having some kind of misconceptions about the idea of the lump summing but you can correct me as well if am wrong, my point is that, the idea of lump summing as a strategy completely has nothing to do with the price point because you are making purchase right away with the lump sum amount that is made available for investment irrespective of the market conditions. Your narratives are more of emphasizing about buying at the dip rather than a lump sum buying. The idea of the lump summing has more to do with the investors decision in terms of the available amount that he want to use and make a reasonable purchase right away and whether there is a dip or not.

That's why we need to understand that investment must be done in a much more responsible way and there is no need to force it beyond our capabilities. When thinking emotionally and greedily in making a profit in bitcoin, someone will be trapped with unhealthy thinking skills and try to do something quickly to make a profit, but in the end we reach a stage of loss that was never imagined. In fact, when we use a long-term pattern, the investment method used should be much easier and we can slowly collect bitcoins.

Waste of costs is a problem for some people who may be involved in trading or investing, but the method you convey can be applied by those who buy bitcoin with a slightly smaller budget. Once $500 is accumulated, people can send bitcoins to a much more secure wallet, making the sending costs much more affordable for those on a smaller budget.

A new investor who wants to start his bitcoin journey right away does not need to have adequate understanding of the market for any reason because the market is unpredictable and he will waste his time trying to understand what is impossible which will hinder him from taking advantage of the opportunities in the market if he has started buying right away.

This is one of the reason why a new investor should adopt DCA accumulation strategy because it does not care about the market since you are buying whenever you plan to buy weekly irrespective of thw price of bitcoin at that moment. DCA enables you to buy bitcoin at all market level both in the dip and when the price is high. The most important thing is that you continue buying bitcoin eveey week with consistency and persistently for 4-10 years and above.

A new beginner don't need any understanding about the market because his focus is only on buying bitcoin overtime without selling. It is hard to predict the dip no matter the knowledge that you have in the market.

Every investor must have adequate understanding of the market before investing. If an investor does not understand the market conditions, then the investor may miss the big opportunities that will come sometime. When it comes to long-term investing, an investor should always be active and exploit the opportunities that come their way. Ordinary investors get frustrated when the market goes down, but professional investors see the market going down as an opportunity to increase their investment. Because if you can invest when the market is going down, then when the market goes up, there will be a good chance of profit. Such opportunities will not be missed if the investor invests consistently, so every investor should invest consistently according to his ability.

Bitcoin wealth is a volatile one yet it continues its momentum like a constant stream. If we look at the Bitcoin market structure, we can see its volatility which you and I can be relatively depressed by, but I think that regardless of the volatility of the market, if we invest in Bitcoin for the long term (DCA) method, We can get a good return. You said well but we can't really give any explanation as to whether bitcoin is going to sink on 25th or not. Of course we should dip into growing our portfolio, which is by no means a waste of time.
I think we should charge a price for investing bitcoins, maybe on weekly income. Irrespective of monthly or weekly income increase or decrease, we can keep a certain amount from there to invest in Bitcoin.

As an example, let's say you have a monthly income of $120, from which you can invest $80 in other activities and the remaining $40 in Bitcoin. have the attitude that you will invest $40 a month regardless of the ups and downs. And if you have other means of earning money then you can increase the rate of Bitcoin investment.

The price of Bitcoin is currently showing an upward trend in this month of October, because we can call this month of October as the month of Uptober. Because Bitcoin prices have seen bullish rather than dumping prices, we can use October as the best month of the season and as a ladder. 
Since the Bitcoin price rally is over, now only the Bitcoin price is running towards the maximum speed. And we can move forward step by step with the aim of touching the next target 80k, the second target 100k dollars, and the third target 150k dollars.

Absolutely your statement is more bullish, compared to his. Yours is coming from a more believing mind, while his is bit shaky like some who is not yet convinced.

I stand with you, $65k might never happen again! ☺️☺️☺️

I actually want the price of Bitcoin to get to $65k this week so I can make a major investment I'm planning this weekend, then from next week it can start shooting up   . This might sound selfish in a way but that is just my wish because of my targets. This weekend I'm expecting my salary and several annual allowances including profit sharing, 60% of which I want to invest in Bitcoin through lump sum buy even as I have my DCA method still running smoothly. So, the lower the price of Bitcoin, the better for me because I will be getting more Bitcoin with my investment than I would get when the price already surges. Nevertheless, whatever be the price I do not really care because I'm not looking to sell anytime soon. I may be bullish on the long run but for now I want a little retracement to enable my orders get filled at decent prices.

I read my own post as more bullish than yours.

Or at least less bearish.

Think about it.

You are saying $65k might not happen "for a while," and I am saying that $65k "might never happen again."

My statement is more bullish than yours..    nanu nanu.

Seems to me that you've been accumulating Bitcoin with your emergency funding and although I can't reprimand you for buying Bitcoin, but I think it's the wrong practice.
Your accumulation of Bitcoin is not an emergency, it should be a structured activity, so stop treating it as an emergency by funding it with your emergency funds. Bitcoin should be bought with your discretionary income and your emergency fund should be kept as a backup in event of unforseen circumstances so you don't prey on your holding.

On the bold text I think many people misunderstood your point there and I don't blame them because your grammatical construction betrays your point. I also understand you were expecting some cash flow in two days, so you should wait for such days if that is when you have discretionary income available instead of preying on your emergency funds. Having ready emergency funds is an undeniable part of your accumulation journey if you wish to go for a long term(4-10 years or even more).
I also think you should continue to grow your emergency funds alongside your accumulation of Bitcoin because it's very necessary you have it built up for the continuous safety of your holdings, so you don't turn to it in times of trouble and worse of it all, you sell at a loss.

I don't think it is possible that Bitcoin experiences a cycle without dips, it has been a regular occurrence. While it's not a good practice to wait explicitly for the dip to accumulate Bitcoin, it's not a bad idea to be assembling funds separately to take advantage of it when it presents itself while still maintaining your DCA accumulation process.

Sounds bullish dude in terms of your words. Today i want to know if you have that potentially bearish period back. I am surprised when someone says that the market will be bearish with certainty.
Why do people forget that the price of Bitcoin fluctuates constantly? With the market trending slightly lower, you would have guessed that a dip might be coming.

But that thought has already changed as you enter the market today and see Bitcoin price touch $68,000 (Bitcoin price rose to $68,850 in the last 24 hours). Those who waited for the dip period to buy bitcoins, I would say again are complete fools because the market price of bitcoins has gone up a lot in just one day. So instead of foolishly waiting for bearish seasons, get ready to buy immediately, Even grow your investment portfolio by buying Bitcoins regularly.

We are expecting a new ATH when the bull run is at its peak which most investors believes that it might be Q1 of next year since the price of bitcoin is 68k+, so whether the election takes place or not, bitcoin price will create a new ATH by next year when the bull run is at its peak. It is just that they must be an event to fuel the price which I think that the election will be one of those event. However, we might be wrong on what we think and one should not expect too much that the election is what will skyrocket the price of bitcoin so that if it doesn't play out like that, you will not be disappointed.

Are you saying that you haven't started investing in bitcoin, if so what have you being doing or what are you waiting for when new investors are using this opportunity to invest in bitcoin now that the price is cheap. What if bitcoin price gets very high in the next few years that you plan to start your bitcoin journey. You should know that it is not compulsory for you to buy one full bitcoin but you can buy in fractions. It is better that you figure out how to get started with some amount of money from you discretionary income that will enable you buy every week continuously with DCA for 4-10 years and above so that you can build and grow your bitcoin investment for the future.

I hope that you are not those type of no coiners that are waiting to start their investment journey in the bear season because if so, you are wasting the time that you are supposed to use to take advantage of the market and accumulate more bitcoin. I hope you will not be like those people that will sit on the fence in regret watching other people making profits from their bitcoin investment in future. Bitcoin price and time waits for no one.

From what I have seen, nobody is hating on him; you just fail to understand the reason why people quote him. It is not about him missing buying the dip because even most people here also fail to buy the dip. People are just concerned he might use his emergency funds to buy bitcoin one day, which will make him look like he is investing aggressively and also overdoing it, which might get him off the game, partially or permanently. People are just letting him know that emergency funds are not meant for buying the dips and also for him to know the right things to use his emergency funds on so that he will not end up using his emergency funds to buy the dip.

Yes I am interested enough to hold my investment, it will be my investment as opposed to keeping money in the bank. Because I see everyone keeps money in the bank but it's risky the owner of it is determined by a third party, but the bitcoin I hold I own my own wealth. 
This is one reason I am faithful and will keep it for long, and I have seen the past history by looking at the posts of senior brothers like 2013 2014 2015 investors who have invested around here have made huge profits today.

 So it is that I will continue this investment for years to come, like all the people in my country who keep money in the bank unlike me. So against them I started investing bitcoins and I am following DCA method according to rules. So by using both the honest advice of senior brothers and my willpower, I turned the power of patience into more patience.