Topic: Buy the DIP, and HODL! - page 553. (Read 122829 times)

I doubt that is the best way of thinking about how to tailorize bitcoin to individual circumstances and the particular opportunities that present themselves (especially to normies) through something like bitcoin.

I have outlined several times that people do not tend to have lump sums of cash that they are either hanging onto or that they would like to go into debt or that they would like to hang onto cash and try to time opportunities to enter into whatever investment.  Of course, a house is a bit of a different investment because of living in it, but it is still subject to the bullshit over-skewing of the importance of debt.. so currently there are all kinds of people and institutions hoarding housing because they are afraid to keep their value in cash or some other assets that are questionable in their fundamentals.

So, even though history can sometimes inform us about what we might want to do now, or what kinds of risks that we might want to take, one of the great things about something like bitcoin is that any of us (even the most normie of normies) can get into it with very little capital and we can customize our strategies and do not even have to qualify to become eligible to get into it.. We just have to take some actions to set up accounts or get some contacts with folks to buy directly.. sure there can sometimes be some elitism in terms of those with banks have more options, but we see systems developing in very poor locations (including El Salvador) that seem to be increasing the developments of options in which even the poorest of the poor can get into bitcoin without having very many fees and then they can take advantage of even smaller incremental investments if that might be all their budget (and situation) may be able to tolerate.

The best way to convince people about DCA, especially in Bitcoin, is to have them ask their grandfather how much they purchased their first house, or their first car. Then let them imagine that they are grandparents with grandchildren asking them how much they purchased their first Bitcoins.

Dip buying is much better buying and holding is the trader's own opinion, but traders earn more if they buy and hold at a lower price there is no fear of a long-term hold even if the market is dip, traders are not disappointed because there is a golden opportunity to buy it in the crypto market. Once prices rise it changes the lives of traders.

Yes.. people can deny it.

The best strategy is DCA,  and buying the dip is a good supplement to DCA.. but it is not as good as DCA... So when in doubt and you are not sure about what strategy to follow, DCA is the best  Hands down.


If you are already in a mindset of trying to time the market, you are likely setting ur lil selfie for panic selling and emotion.


I think HODL means more than one you are describing it to be.


If your are thinking about short term baloney then sure.. maybe you will get a payoff and maybe you will sell too much too soon.

I f you are a long term investor, you don't need to place any kind of high priority on trying to figure out when you are going to sell, but you can still develop various strategies that may account for some selling. even while not getting too worked up about it.


Fair enough.. buy the dip and HODL have problematic aspects by themselves, but they are not bad if they supplement other strategies, including the best strategy, which is DCA.



There are many situations in which a HODL position may well come into play.  One of the scenarios is running out of money after buying the dip, and another is not selling too much too soon.

Sure there are other scenarios in which HODL is a good strategy, also... and you are correct, Wawa2013, there is a decent amount of individualized tailoring that might cause HODL to play out differently for different people and to be an acceptable strategy.. and sometimes there is no perfect strategy, just good strategies that attempt to be mostly individually tailored, if possible.


All or nothing thinking is dangerous too, and frequently some kind of incrementalism will be better because it is likely better to never sell all of your BTC and also it is likely better to never run out of fiat to buy, either.


This thread is about bitcoin, so whatever the fuck you are suggesting about "crypto" likely does not apply, so maybe you should revise your above sentence in terms of talking about bitcoin rather than muddying your point with likely nonsense and vague ideas that are likely lacking in a large number of assessments about fundamentals and also speaking vaguely would have a lot of variation in terms of assessing any of the bullshit out there that might fall into such a broad and nonspecific category, besides bitcoin in terms of potentially having any fundamental value that would cause some shitcoin or whatever you are referring to to be a long term rather than an in and out investment...

In this thread, we are already presuming bitcoin to have long-term fundamental values, and therefore that presumption of long-term fundamental value is built into the idea of HODL, also.  

It would stray this thread way into off-topicness if you are wanting to bring any other piece of shit coin (aka altcoin) (aka crypto that is not bitcoin) into consideration/discussion in this here thread.

Buying the dip is great, but not everyone can have the courage to buy coins when they are at a low price. Most people have a fear that the price of
coins will fall even further, that's not a lot of investors in my opinion who buy coins at deep prices. Then regarding HODL, this is also everyone has
a different timeframe, because everyone's selling target is definitely different. HODling will be successful, if investors are able to patiently wait for
the coins to reach the specified target. But it's not easy to do, because most people end up selling their coins before reaching the target.
So it's no wonder the number of people who fail to invest in crypto is still more than people who succeed in getting big profits from crypto investments.

This is my motto actually. Buying the dip is always good. I think that noone can deny that. If you are lucky and able to buy the dip, you should never panic sell. HODLing means that we should wait for a long time. By saying "a long time", I mean that this time period can change for every person. It's about at what price you are thinking of selling.

It will be easier, and you would become less fearful if you zoom out. The “crash” from $64,000 to $29,000 would merely be a correction in Bitcoin’s path to 6 digits from that perspective.


The “many people” didn’t zoom out, and they might have never considered Bitcoin as a multi-generational protocol. Bitcoin has NOT reached the moon in my opinion.

Buying the dip is always the best choice, I agree. I think that people who buy the dip only are the ones who make the most profit compared to the other type of investors. But they make that much profit in a long term of course. HODLers can lose and make lots of money on this road. But in the end, they will reach their goal as long as they are patient and don't panic-sell in this period.

Well if you are in a BTC accumulation phase of your investment, then it seems better to have a system in which you are attempting to cover a variety of scenarios, including to buy on dip, to be able to buy on more dip, and to just buy regularly whether there is any dip or not, so in times, like this when the BTC price is going up, at least on paper you are likely to be seeing your BTC holdings to be in profits.... so sure, some luck, but also some payoff from consistent behavior.

Some folks do not want to be buying in frequent manners, and they are trying to lump sum invest and to time BIGGER dips, and I agree sometimes those kinds of buyers are going to end UP not sufficiently preparing themselves for UP because they are waiting too long and waiting for too low of BTC price dips that do not end up happening, and surely this time around we have seen a quite a few folks calling for more DOWN BTC price movements, even after we had already visited sub $30k BTC price territories a few times (which was already well over 50% - up to 56% - correction from our mid-April $64,895 top). 

Each person does need to determine how to attempt to prepare and to follow through with his/her BTC accumulations strategies and carrying out.  I personally consider buying on dips to be a more advanced strategy that should supplement the more basic and preferable DCA technique or to be employed after already having had sufficiently accumulated enough BTC.

Like I mentioned our current, teetering around and above $46k does lend quite a bit higher likelihood that the bottom of $28,600 is already in, but does not mean that we will not have dips or that a less than likely scenario would end up playing out in which $28,600 ends up getting tested and/or breached... further more seems to be better to be preparing ourselves based on more likely rather than less likely scenarios, so at this point the price dynamics and pressures do seem to be ongoingly UP, but does not mean that we still might not get some price dips along the way.. but even getting down to $28,600 would be getting into a 40% price correction, so perhaps getting dips in the 10% to 15% arena, while we seem to be going UP would be amongst the higher of outcomes to buy some more BTC on dips in case it happens.

Actually it is not like "You don't have another choice.". Yes, it is always much better to buy from the dip price. But it is not easy to know what the dip is also. For example, Bitcoin price was $29k not a long time ago. And many people were thinking that this fall would continue until even a level between $10k and $20k. But it wasn't the case. It was the dip and people who bought then are really lucky now.

No need for me to reread what I already read (before typing my previous post).


Sure, a minor difference, but I had been saying that supra $46k would help me to feel greater levels of confidence about the bottom being in.. so sure, the further that we are from the bottom the greater the confidence, and it is good to be nearly getting above that $46k mark.. in order to attempt to perform some further assessment.

Tentatively, let's assume that the $46k is crossed in the coming hours or day or two at most, then instead of having a 55/45 level of confidence that the bottom is in, my confidence would jump all the way up to about 63/37.. so yeah, it is just incremental increases in confidence... at least, that's how I attempt to consider these kinds of price direction anticipation matters.

By the way, there is not really much difference between $46k and $53k, as far as I can see... but hey take these price movements with a grain of salt.... they have not happened until they happen, but there should not be too much resistance between $46k and $53k, presuming that we get above $46k at some point, soon.. seeing $45,900 as I type this post...

Read the post again. I’m not talking about what happened “so far”, I’m talking about giving it 2 more days of red daily candles before the trolls re-emerge, and the bears mistake their winter for spring.


Then what price point would give you more confidence that the bottom is in? $50,000?

Not sure about what you are talking about.

If you are referring to daily candles, then we have 4 daily green candles and 1 daily red candle.  So far, and if you zoom out, we had 10 daily greens, then 4 daily reds, 4 daily greens, and 1 red, so far.

We are in the midst of a second daily red candle.. but our current daily candle is not even half way done yet.  It opened at $43,836, and the current price is bouncing right around $400 below the opening pricel 

To me the current BTC price action seems hardly anything of significance, thus hardly any significance should be implied to be coming from what anyone might say, in terms of short-term BTC price movement that still seems to be quite a bit at the top of a tentative price range that still seems to be pushing UPpity.. at least so far.

By the way, I will concede that our local high of $45,355 (around 25 hours ago) is still NOT quite enough to allow us to have a lot of confidence that the bottom (or $28,600) is "in" for this correction cycle... but surely getting close to a point to be able to raise the confidence that the bottom is in.. including that we still are likely in a bull market.. so hopefully no one is trying to suggest behaviors (especially in a thread like this) of anything much more sophisticated than buying the dip and HODLing.. even though I do understand that some folks (including yours truly) do like to shave some profits off as the price is going up in order to be able to use that money to buy more on the dip, if there is any more significant dip from here ($43,547 as I type this post), so in that regard, we should maintain in mind that in the past three weeks we have come up a bit over 50% from $49,296 to $45,355 from yesterday, so there should NOT be too much of any kind of surprise to have some pause in the UP from here, even though such pause in the up from here is not a necessary condition in order for the BTC price to just continue on its UPwards path.

I believe that we should give it 2 more days of red daily candles before everyone starts asking if the recent surge is just a “bull trap”, and other posts again will say that it’s a bear market. Plus witness those trolls who went silent during the surge to re-emerge, then bump their FUD topics.

It’s debatable whether discussing about the macroeconomics of Bitcoin, or the politics, or if someone shared his/her own technical/fundamental analysis or his/her own variation of HODL-style investment strategy, is “off-topic” because all that can be encouraging for the philosophy of Buy the DIP and HODL.

You, ser, are nitpicking.

We have covered this before.  There are forum rules about deviation from thread topics.  Does not matter if you are the OP or not, and of course small amounts of deviation will be tolerated, otherwise it is a new thread... if you change the topic of the thread as we go along, probably a lot of members would get frustrated with that, including yours truly.  Try to have some respect for the thread topic, including members who come to the topic expecting what was in the description (and perhaps the opening post, too)...

OF COURSE. Anything can be discussed in the topic. Bitcoin and Macroeconomics, HODL-style investing strategy + DCA, Technical Analysis, Bitcoin and politics, technical development topics, ANYTHING. Don’t limit the discussion on only one thing. It’s good to learn from various discussions/debates.


I respect your opinion, but I encourage more discussions to learn different reasons to Buy the DIP, and HODL.

Nothing wrong with studying, but if this thread happens to be about buying the dip and HODLing, do you believe that bitcoin becoming the world reserve currency (if and when it does) has very much to do with the subject area of the thread which seems to me would be that anyone who is investing into bitcoin within the premise and guidelines of this thread would be considering that bitcoin's fundamentals are strong, to justify investing into it.. sure bitcoin becoming a world reserve currency can be part of that thesis to motivate investing, but I doubt that anyone should have to have bitcoin come even close to world reserve status in order to profit stupendously beyond a lot of other options currently available.

In other words, seems to NOT be any kind of necessary or immediate condition and seems to be beyond the original topic and not even that necessary to fold into the topic in order to discuss reasons for buying on dip and HODLing.. and I believe that lump sum investing and DCAing are a lot closer and better topics... because seems to me that there is already a kind of assumption in this thread regarding long term prospects of bitcoin and so getting to world reserve status is a kind of a matter of degree rather than a matter of already assumed BTC price direction....


Yes.. seems inevitable that a variety of these kinds of things are going to happen with BIGGER and BIGGER players getting more involved in bitcoin in various ways.


And lump sum invest and DCA as well... jajajajajaja

 

That’s true, but it can also be helpful to research about Bitcoin and it’s effect on Macroeconomics, and know the theories why it might have a great impact on the behavior, and the current structure of the world’s economy as whole.


Any country might, like El Salvador, or can, but I believe Bitcoin has not reached a level of liquidity to maintain stability to be an accepted unit of account, or transactional currency. But as a Reserve Currency for governments to hold in significant quantities? More possible.


Front run the government, buy the dip and HODL.

I doubt that I am annoyed as much as you are considering my annoyance to be important.

I already made my point, so I am not sure what my annoyance, if any, has to do with the matter.



Just might be a different way of thinking about matters and if there is some need for recognition or credit...



Value is going to continue to gravitate into bitcoin, yet 20 years seems too soon....

Bitcoin is successful whether or not it ever becomes a world reserve currency.. and the personal investment thesis into bitcoin remains strong.. so sure, you can contemplate more macro ideas, that's fine, but this thread is about personal investment strategies, and some of us invest into bitcoin because we believe that its sound money aspects are going to continue to cause value to gravitate into it and for bitcoin to increase in value greater than other assets, relatively speaking...and sure at some point, governments around the world might start to recognize bitcoin as their unit of account or their transactional currency.

So, sure it does seem inevitable that value will continue to gravitate into bitcoin in such a way that it becomes more and more the base for everything else.. and whether there is a gradual then suddenly timeline that can be placed upon it, is not something that I give many shits in exploring.. bitcoin has already provided me a lot of value.. and it has performed quite a bit beyond the more bullish of expectations.. but it is still on a trajectory that takes time.. even though it is progressing quite well with the passage of time.

By the way, let's see how El Salvador works out, and if there are other countries wanting to imitate it, so there is the legal tender matter, but there is also the matter of governments holding Bitcoin in their reserves.. so El Salvador is a kind of beginning, but I still doubt that 20 years would be a sufficient time for the contagion of bitcoin to spread to be classified as a world reserve currency.  We will see.. we will see.


And remember arguing for the mere sake of it can be problematic... but you do you.