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Topic: Buy the DIP, and HODL! - page 556. (Read 122829 times)

member
Activity: 211
Merit: 20
July 05, 2021, 04:18:54 AM
From what I see in the Charts, after a significant new ATH, so far, there always was a 80-90% correction. Buying a Dip now, makes no sense to me. I am invested, but not buying more dips atm. The Chart is in a range (daily) and as long as price does not break out of it, why even bother? I am accumulating FIAT and once there is a good chance, I will invest that FIAT into BTCUSD. Buying every dip was not the best decision in 2018, so why would it be clever now, when price is in an downtrend?

You are playing little games with yourself if you believe that you know where the BTC price is currently going to go in the short term merely because you have so much "experience."  Your experience should tell you that you have hardly no fucking clue from this here current price of $33,500 (as I type) whether the BTC price is going to go UP or DOWN from here.

You can act like you know, but you don't know shit, and hopefully you are not overly gambling on one direction versus another, and additionally, BTC remains such a BIG ASS asymmetric bet, and probably one of the BIGGEST of asymmetric bets that we have ever had in our lifetimes, and any of us who know about BTC should be making sure that that we are more prepared for UP rather than overly preparing for down.. In other words, it is better to over prepare for up with this particular asset, while also appreciating that we are likely in the largest wealth history in mankind, and it is better to benefit from that wealth transfer rather than being on the sidelines watching it as if you believe that you are going to be able to get a bit more BTC at a lower price blah blah blah.

Dude, thank you very much for your answer! It really took me a while to read it, but is worth the read! You mention some very good points. Problem with BTC to me, is the volatility at times.
Lets go step by step..
Even I assume BTCUSD is in a downtrend, I am not shorting/selling it. I am only waiting for signs that price will rise, and then a confirmation. Price could still turn over again hard and I am then caught in deep DD. Might happen. But to me it simply makes no sense to buy something, when it price is falling and there are no signs that it will rise again. I would not buy a piece of art, if its price is only falling. I would not buy a house in an area, where prices are only falling for the last years... Not because I think its not worth it, but only because it puts me in a worse situation, then if I simply sit it out and wait.

Yes I am only holding a minimum of BTC atm, as I dont think one should buy every dip. If you do so, you end up buying a potential downtrend, what causes you to look at the screen and see only red numbers, what again results in doubts of your investment. I might miss the perfect spot to buy. That is correct. I dont care though, as I wait for a good/decent point in time to buy. Just like with a house, or even Gold and Silver. You would not buy it if its in a downtrend. Even if you plan to hold hit for 50 Years, the point where you are buying it, should make sense imho. But that is very personal and individual.


I am not convinced yet, that BTC will at any point in the future be the same as internet or televsion or even print media (back in 1600's) was. As for now, I dont see the higher usecase of it. Or maybe I do, but I cant see the mainstream does. And only because something is limited in supply, does not automatically make it worth millions of dollars. Take ... personal art, for example. If I draw some pictures, in green and blue and then announce there will only be 70 of theese pictures. Who cares. Only because something is there and limited in numbers, it does not have to gain value over time. BTC hopefully will, but I am tired of hearing this "only a few ppl on earth even own some btc, and its supply is limited" fact. Its absolutely true, dont get me wrong, but its also a phrase you find on every insta scam profile.

Do I believe in BTC longterm? YES! Do I buy every dip if it looks like a downtrend to me? NO. its that simple.

But in all honesty, thank you for your answer it really gave and gives me  stuff to think about, very good points you mentioned!
legendary
Activity: 2898
Merit: 1823
July 05, 2021, 04:00:27 AM

Does Bitcoin’s price follow the hashing power, or does the hashing power follow Bitcoin’s price? This has been debated many times in the forum.


There is a difference between "following" and "being affected by".
For example does bitcoin price "follow" Elon Musk tweets or is it "affected by them"? Then there the matter of to what extent.


?

Effects of mere tweets on Bitcoin can’t be compared to the effects of loss in fundamental Bitcoin infrastructure, and hashing power.

Quote

Bitcoin price never followed its hashrate and there is no reason to do it either. The hashrate on the other hand follows price which is the only logical direction.


That’s what I used to believe, and even debated for it with franky1. BUT what I learned was, miners, like us plebs, are also speculators. Cool
full member
Activity: 1736
Merit: 116
July 04, 2021, 05:27:24 AM
In this case the FUD already ran rampant for 2 months and caused all the drops it could, I don't think there is any more room left for more panic selling. In fact I believe in a couple of days we will start seeing the end of FUD campaign and the start of rising back up.

I hope you are right. We've dealt with enough FUD in the last few months for me to believe we've gotten rid of all the weak hands by now. Even some bullish news have been drowned in FUD and haven't contributed to price increases as they should. After all the dust settles around China and the miners, I think the market will begin to uptrend again, and this could happen anytime soon.


Don't worry, it looks like the FUD circulating is decreasing and I believe the weak hands have already sold their Bitcoin. It should be based on
my analysis that the Bitcoin price will start to improve in the next few weeks, if the price of Bitcoin recovers, it is expected that the price of
altcoins will also recover. What we need to do is holding the Bitcoin we have patiently, I believe the future of Bitcoin is bright, so don't sell Bitcoin
right now. Wait until the Bitcoin price is at least back above $60k again.
full member
Activity: 1008
Merit: 139
★Bitvest.io★ Play Plinko or Invest!
July 04, 2021, 04:18:44 AM
In this case the FUD already ran rampant for 2 months and caused all the drops it could, I don't think there is any more room left for more panic selling. In fact I believe in a couple of days we will start seeing the end of FUD campaign and the start of rising back up.

I hope you are right. We've dealt with enough FUD in the last few months for me to believe we've gotten rid of all the weak hands by now. Even some bullish news have been drowned in FUD and haven't contributed to price increases as they should. After all the dust settles around China and the miners, I think the market will begin to uptrend again, and this could happen anytime soon.
legendary
Activity: 3472
Merit: 10611
July 04, 2021, 01:38:20 AM
Does Bitcoin’s price follow the hashing power, or does the hashing power follow Bitcoin’s price? This has been debated many times in the forum.
There is a difference between "following" and "being affected by".
For example does bitcoin price "follow" Elon Musk tweets or is it "affected by them"? Then there the matter of to what extent.

Bitcoin price never followed its hashrate and there is no reason to do it either. The hashrate on the other hand follows price which is the only logical direction.

However when we have a lot of FUD talking about some doomsday scenario just because a small portion of the hashrate went offline in China and another small portion of hashrate shut down elsewhere because of the 50% drop in price then there is the "being affected by" part I mentioned above.
In this case the FUD already ran rampant for 2 months and caused all the drops it could, I don't think there is any more room left for more panic selling. In fact I believe in a couple of days we will start seeing the end of FUD campaign and the start of rising back up.
hero member
Activity: 3024
Merit: 680
★Bitvest.io★ Play Plinko or Invest!
July 03, 2021, 06:46:14 PM
This phrase can be the motto of many people in the world I guess.
It really is.

People would love to buy from the dip level. Who wouldn't?  Grin  In the end, it is one of the biggest opportunities to accumulate and make a lot of profit in the long run.
As long as it's btc.

There are other choices that also applies this principle but not all of them are good in the long run.
sr. member
Activity: 924
Merit: 255
July 03, 2021, 05:29:00 AM
This phrase can be the motto of many people in the world I guess. People would love to buy from the dip level. Who wouldn't?  Grin  In the end, it is one of the biggest opportunities to accumulate and make a lot of profit in the long run.
hopefully it will continue to be so, and hopefully more and more people will continue to think optimistically so that they can maintain their belief in bitcoin until bitcoin continues to be in demand and survive in its popularity.
member
Activity: 532
Merit: 18
July 03, 2021, 04:23:48 AM
This phrase can be the motto of many people in the world I guess. People would love to buy from the dip level. Who wouldn't?  Grin  In the end, it is one of the biggest opportunities to accumulate and make a lot of profit in the long run.
legendary
Activity: 2898
Merit: 1823
July 03, 2021, 04:11:38 AM
Does Bitcoin’s price follow the hashing power, or does the hashing power follow Bitcoin’s price? This has been debated many times in the forum.



Will we, the plebs, be give another golden opportunity to buy the DIP, and HODL? Or will it be the miners who will be given a small window of opportunity? Cool
legendary
Activity: 3892
Merit: 11105
Self-Custody is a right. Say no to"Non-custodial"
July 02, 2021, 10:49:39 AM
From what I see in the Charts, after a significant new ATH, so far, there always was a 80-90% correction. Buying a Dip now, makes no sense to me. I am invested, but not buying more dips atm. The Chart is in a range (daily) and as long as price does not break out of it, why even bother? I am accumulating FIAT and once there is a good chance, I will invest that FIAT into BTCUSD. Buying every dip was not the best decision in 2018, so why would it be clever now, when price is in an downtrend?

You are assuming a downtrend.

You might be right, but you might not be right.  Odds seem a bit against your presumption if you zoom out.. and also consider, stock to flow and 4-year fractal as minimum reference points. and also consider exponential s-curve adoption as an additional consideration.

So far we have had a 56% correction.. sure we could get more, or we might not get more.

buying on dips and DCA have been sound strategies and made people decently rich, especially if they have an investment timeline of at least 4 years... sometimes shorter investment timelines can work too, but chances are much better to have at least a 4 year investment timeline when buying on dips or otherwise investing in such an volatile investment, and sure not even 4 years is guaranteed to be profitable, even though BTC is likely one of the most asymmetric bets (especially one with a decently sized market cap) that can be made..

In other words, you are a fool if prepare for down, but you are not adequately prepared for up... and staying in cash comes off as pretty dumb when considered from the perspective of whether you are sufficiently and adequately prepared for up, even while you are likely prepared to have fun staying poor.
Thank you! I am indeed assuming a Downtrend. Yes in the bigger Picture there is an Uptrend, sure.

I am not even suggesting that you should not be playing around with some of your stash, if that is what you are inclined to do.  Some people just cannot stop their inclination to want to be BTC price prediction gods, but the fact of the matter is none of us really know, especially in the shorter term.

Of course, the longer term is not guaranteed either, but part of any BTC accumulation strategy would contain some kinds of assumptions that in the longer term you are going to advantaged by engaging in ongoing BTC accumulation, even if it can take a long time to accumulate.

Whether it takes 1 month or 4-7 years to get back to profits, any of us with a longer term investment horizon have found that bitcoin has tended to far exceed minimum expectations, so frequently we are going to just be causing too much stress on ourselves if we might be strategizing too much with the dips and then half we get right and half we get wrong, or even if you are capable of getting 80% right (which is a likely BIG if), you may end up losing way more than you make on the occasions that you guess (predict) the BTC price correction wrong.. and the price can move violently against you with your continuing to wait for a correction that does not come.

From your description, sounds as if you are hardly at all in BTC because you said that you have been stacking fiat waiting for the BIG dip blah blah blah, and sure I don't even have a problem with your having had decide to build up your fiat reserves so long as you have a sufficient amount in  BTC.

Let's say for example you have a total investment portfolio of $100k, and you have various investments, and you have a goal to have 1% to 10% in BTC.  I am thinking that you better make sure that you keep your 1% to 10% in BTC, and personally over the years, I have just let the BTC portion of my total investment ride, so in 2014, my goal was on the more aggressive end of allocating 10% into BTC, but by the time I reached 10% in late 2014, I decided to keep accumulating BTC, and by the middle of 2015, I could see that I was getting over 12% in BTC - and with the way that I was continuing to DCA into BTC with any extra cash that came in, I was projected to get to 13.5% by the end of 2015, so somewhere in the middle of 2015, I had decided to reconsider some of my BTC strategies in terms of authorizing myself to sell some BTC as the BTC price went up (that is if the BTC price were to go up - above $250 at that time).

In other words, by the time mid-2015 came, I had been accumulating BTC since late 2013, and I had only established my 10% target level in late 2014, and I had always been nervous about selling any BTC, so if I ever did sell any to gift to someone or something like that, I would replace within a relatively short period of time because I did not want my BTC stash to diminish.

Surely, each of us has to consider these kinds of matters out within our own comfort levels, in terms of how prepared are we for UP versus how prepared are we for down, and it seems to me that the fact that even when I had made some peak (over) allocations into BTC of 13.5%, I had already had investments outside of BTC that constituted 86.5% of my total investment portfolio.

Also, even when BTC went up to $19,666 in late 2017, I did not get all worked up about selling a bunch of BTC because I was pretty much comfortable with my BTC investment levels even though I had put around 3.5% more into BTC than I had anticipated, but I never really did shave all of that over allocation off of BTC because my overallocation has continued to rise along with my regular allocation (the 10% aspect), and so even when BTC prices went to $19,666 in late 2017 and then corrected back down to $3,124 in late 2018, my BTC allocation rose through price appreciation to become something like 87.5% of my total holdings and then dropped back down to around 45%, and sure I did some selling and buying back, but mostly I just continued to HODL my BTC, so perhaps now my BTC holdings ends up being close to 89% of all my investments, and I feel no need to fuck around with it  or to play BIG with it, because there is also a theory about letting your winners ride, too...

BTC has been a winner, and is likely to continue to be a winner, and if you fuck around trying accumulate more BTC through selling, you are likely going to end up with less BTC because you are engaged in too much gambling behavior rather than just concentrating more narrowly on making sure that you reach your BTC accumulation goals prior to playing around with any kind of significant amounts of your BTC stash in terms of trying to guess BTC's short term direction and even to expect a greater than 56% btc price correction currently when we already had a 56% price correction.. so are we going to get more?  maybe, maybe not.. and if you are betting large portions of your BTC/cash on one direction rather than the other you are likely going to be never really taking the advantage of the power of ongoing BTC accumulation through more conservative means... that sometimes are difficult to appreciate in the shorter term, but in the longer term, it becomes quite apparently good ideas to accumulate BTC rather than gambling with whatever BTC you had been able to accumulate.

And buying Dips is not a bad thing, no doubt. But buying EVERY dip...


Of course, every accumulation strategy can prudently include lump sum investing, DCA, buying the dip and HODL...   Selling is not a prudent approach.. it is a gambling approach.  Sometimes overly waiting is problematic too.. so if you have $1,000 per month that you can invest into BTC, and you started to get nervous in the beginning of the year about buying BTC on an uptrend, then you may have accumulated $7k to potentially invest.  Hopefully, you have already invested most of that $7k instead of just waiting for more dip that might not happen.

Yes, each person's situation is going to differ regarding how long s/he feels comfortable sitting on cash, and if there is a cashflow, then deciding where to put such cashflow can be unclear, yet if you have a plan, then you can have some allocated towards buying regularly and some allocated to buying on dips.


To me, honestly, price is only ranging. I look at the daily, and all I see is a range. I am not buying, nor selling a range.

Sure, you may have time to continue to buy in this range.. let's call it $30k to $38k, and if you have already bought in this here range, then you might feel that you have time to wait.

If you sold around these prices  or even in the $50ks, and you have not bought back yet some or most of what you sold, then I am not sure what to say to you beyond that you may be gambling too much.. but sure, how much to buy back is a question, and if you have little to no BTC, then you are playing a much different game.. and you better have already met or exceeded your BTC accumulation levels before you are fucking around with waiting for lower prices that may well not happen.


I am waiting until BTCUSD price breaks out of this range. We had the same exact thing early 2018.

We are not likely to be in the same part of the cycle as 2018. so it is problematic to be comparing early 2018  to now.. but do whatever you like.


I bough the dip around 10k that time, assuming that price would go up. What have I learned? Price does not care what I assume, so I wait to see what price does. Last time price fell from 10k to 3k, and that costet me quite some money and nerves. I know it was my fault. So I learn from that fault. I price leaves that daily Range to the top, I am happy to buy. If not, I am happy to wait until I see something I call a bottom then.

I bought through all of 2014, when the BTC price dropped from $1,163 to below $200, and I have no regrets.  Yeah, my BTC portfolio was in the negative until about 2016, but sometimes that is how things go.

If you were in accumulation stage in 2018, there was nothing wrong with buying supra $10k and continuing to buy all the way down to $3k and even possibly running out of money at $6k because it takes a while to accumulate BTC and to figure out how to manage your cashflow, including not having any crystal ball about where BTC prices are going - especially when you are caught within the time...

When you look back at the situation, you believe that you are a genius because you say that you should have done x, y and z based on knowledge that came after the fact...   Yeah right.   Roll Eyes Roll Eyes

You are playing little games with yourself if you believe that you know where the BTC price is currently going to go in the short term merely because you have so much "experience."  Your experience should tell you that you have hardly no fucking clue from this here current price of $33,500 (as I type) whether the BTC price is going to go UP or DOWN from here.

You can act like you know, but you don't know shit, and hopefully you are not overly gambling on one direction versus another, and additionally, BTC remains such a BIG ASS asymmetric bet, and probably one of the BIGGEST of asymmetric bets that we have ever had in our lifetimes, and any of us who know about BTC should be making sure that that we are more prepared for UP rather than overly preparing for down.. In other words, it is better to over prepare for up with this particular asset, while also appreciating that we are likely in the largest wealth history in mankind, and it is better to benefit from that wealth transfer rather than being on the sidelines watching it as if you believe that you are going to be able to get a bit more BTC at a lower price blah blah blah.


But you are right, I  am to focused on what to do if price goes down further. I need to prepare for the other way as well. So, thank your for your answer!

Many people overly prepare for down, and the fact that ONLY a small percentage of the world's population even owns BTC or has any kind of significant holdings in BTC (even if they know about it) likely shows that any of us who even marginally prepare for UP are going to be quite advantaged over the vast majority of the worlds population who are still ignoring or under preparing in regards to even establishing a minimally prudent stash in the 1% to 10% arena.  In other words, if you do not have any BTC, first aim to get 0.21BTC, then aim to get 1 BTC, then 2 BTC then 5 BTC, then 10 BTC , then 21 BTC, and maybe if you are new to BTC, you are not even sure if you can get up to 1 BTC, but you just do what you can because it can take a long time to reach some kind of semblance of fuck you status.. and sometimes people take all of their working careers of 30-40 years and never reach fuck you status, and even if you are able to cut that down to 15 - 20 years and actually make it to fuck you status, that might really be a big accomplishment, and surely bitcoin seems to be a vehicle to help to get to fuck you status so long as you are treating it as a long term investment rather than fucking around with it in a gambling kind of way.

I am indeed assuming a Downtrend. Yes in the bigger Picture there is an Uptrend, sure. And buying Dips is not a bad thing, no doubt. But buying EVERY dip... To me, honestly, price is only ranging. I look at the daily, and all I see is a range. I am not buying, nor selling a range.

Get the context of WHY, and WHEN the topic was created. It was during the time when the sentiment was so bad, most of the newbies/non-Bitcoiners thought/hoped Bitcoin would crash again like November 2018, and DIE. Hahaha.

I will change the title to not confuse the newbies.
Quote

To me, it seems ridiculous for you to be changing the title of the thread (which you already did... but whatever, peeps do ridiculous things all the time.. hahahahahaha.. you are no exception.. that's for sure)...  

No matter what, whenever setting up any "buy the dip" strategy, every person is likely better to figure out for him/herself regarding what that means to them.. both in the context of who they are at the time and also what their portfolio looks like at the time and also what they believe the BTC price is going to do.

The vast majority of normies are likely much better off emphasizing most of their ongoing BTC accumulation strategy with DCA, and surely I have no problem with anyone (even someone in early BTC accumulation stages) keeping some funds on the side for buying dips, and surely anyone is going to run out of "buying on the dip" funds way faster if they buy every single dip, yet no matter what, the way that they employ any buy the dip strategy is something that they have to consider for their own circumstances  - no matter where we are in the BTC price cycle.. because we even may have noticed that we might believe that we are in one part of what we believe is the BTC price cycle, but the BTC price is not really conforming (or cooperating) with what it is "supposed to do" in that part of the BTC price cycle, which largely tells us to moderate the amount of emphasis that we may well have been giving to buying on the dip, and probably putting a bit more emphasis in DCA... potentially complementary ways of thinking about the matter.
legendary
Activity: 2898
Merit: 1823
July 02, 2021, 05:52:13 AM
From what I see in the Charts, after a significant new ATH, so far, there always was a 80-90% correction. Buying a Dip now, makes no sense to me. I am invested, but not buying more dips atm. The Chart is in a range (daily) and as long as price does not break out of it, why even bother? I am accumulating FIAT and once there is a good chance, I will invest that FIAT into BTCUSD. Buying every dip was not the best decision in 2018, so why would it be clever now, when price is in an downtrend?

You are assuming a downtrend.

You might be right, but you might not be right.  Odds seem a bit against your presumption if you zoom out.. and also consider, stock to flow and 4-year fractal as minimum reference points. and also consider exponential s-curve adoption as an additional consideration.

So far we have had a 56% correction.. sure we could get more, or we might not get more.

buying on dips and DCA have been sound strategies and made people decently rich, especially if they have an investment timeline of at least 4 years... sometimes shorter investment timelines can work too, but chances are much better to have at least a 4 year investment timeline when buying on dips or otherwise investing in such an volatile investment, and sure not even 4 years is guaranteed to be profitable, even though BTC is likely one of the most asymmetric bets (especially one with a decently sized market cap) that can be made..

In other words, you are a fool if prepare for down, but you are not adequately prepared for up... and staying in cash comes off as pretty dumb when considered from the perspective of whether you are sufficiently and adequately prepared for up, even while you are likely prepared to have fun staying poor.

Thank you! I am indeed assuming a Downtrend. Yes in the bigger Picture there is an Uptrend, sure. And buying Dips is not a bad thing, no doubt. But buying EVERY dip... To me, honestly, price is only ranging. I look at the daily, and all I see is a range. I am not buying, nor selling a range.


Get the context of WHY, and WHEN the topic was created. It was during the time when the sentiment was so bad, most of the newbies/non-Bitcoiners thought/hoped Bitcoin would crash again like November 2018, and DIE. Hahaha.

I will change the title to not confuse the newbies.

Quote

I am waiting until BTCUSD price breaks out of this range. We had the same exact thing early 2018. I bough the dip around 10k that time, assuming that price would go up. What have I learned? Price does not care what I assume, so I wait to see what price does. Last time price fell from 10k to 3k, and that costet me quite some money and nerves. I know it was my fault. So I learn from that fault. I price leaves that daily Range to the top, I am happy to buy. If not, I am happy to wait until I see something I call a bottom then.


Always zoom out if in doubt, https://bitcoin.zorinaq.com/price/

$3,000 was a golden opportunity.

Quote

But you are right, I  am to focused on what to do if price goes down further. I need to prepare for the other way as well. So, thank your for your answer!


Cool
sr. member
Activity: 966
Merit: 421
Bitcoindata.science
July 02, 2021, 05:38:28 AM
This is the best advice so far. This is really the best time to partake from the cryto world if you have never invested before now and also the best time to buy more take full advantage of the dip and come back in few years with excitement and some level of fulfilment because you would be glad you took advantage of this beautiful piece of advice
member
Activity: 211
Merit: 20
July 02, 2021, 04:43:53 AM
From what I see in the Charts, after a significant new ATH, so far, there always was a 80-90% correction. Buying a Dip now, makes no sense to me. I am invested, but not buying more dips atm. The Chart is in a range (daily) and as long as price does not break out of it, why even bother? I am accumulating FIAT and once there is a good chance, I will invest that FIAT into BTCUSD. Buying every dip was not the best decision in 2018, so why would it be clever now, when price is in an downtrend?

You are assuming a downtrend.

You might be right, but you might not be right.  Odds seem a bit against your presumption if you zoom out.. and also consider, stock to flow and 4-year fractal as minimum reference points. and also consider exponential s-curve adoption as an additional consideration.

So far we have had a 56% correction.. sure we could get more, or we might not get more.

buying on dips and DCA have been sound strategies and made people decently rich, especially if they have an investment timeline of at least 4 years... sometimes shorter investment timelines can work too, but chances are much better to have at least a 4 year investment timeline when buying on dips or otherwise investing in such an volatile investment, and sure not even 4 years is guaranteed to be profitable, even though BTC is likely one of the most asymmetric bets (especially one with a decently sized market cap) that can be made..

In other words, you are a fool if prepare for down, but you are not adequately prepared for up... and staying in cash comes off as pretty dumb when considered from the perspective of whether you are sufficiently and adequately prepared for up, even while you are likely prepared to have fun staying poor.
Thank you! I am indeed assuming a Downtrend. Yes in the bigger Picture there is an Uptrend, sure. And buying Dips is not a bad thing, no doubt. But buying EVERY dip... To me, honestly, price is only ranging. I look at the daily, and all I see is a range. I am not buying, nor selling a range. I am waiting until BTCUSD price breaks out of this range. We had the same exact thing early 2018. I bough the dip around 10k that time, assuming that price would go up. What have I learned? Price does not care what I assume, so I wait to see what price does. Last time price fell from 10k to 3k, and that costet me quite some money and nerves. I know it was my fault. So I learn from that fault. I price leaves that daily Range to the top, I am happy to buy. If not, I am happy to wait until I see something I call a bottom then.

But you are right, I  am to focused on what to do if price goes down further. I need to prepare for the other way as well. So, thank your for your answer!
member
Activity: 1162
Merit: 58
July 02, 2021, 04:05:02 AM
You have no other option. I joke about the whalecumulators, but what else can we plebs do? Buy the dip, and HODL! You do not want to end up empty handed on the next cycle, https://twitter.com/misir_mahmudov/status/1118243131584065537

Those who manage to buy when this thread was created and keep the advice? then for sure they are the rich people last may because this year brings more than x10  from 2019 .
I see FUD from “newbie” accounts EVERYWHERE, creating topics “concerned” about Bitcoin. Listen you Trolls, Bitcoin experienced a stress test, and it passed! Difficulty will self-adjust after a large loss in hashing power, and there was no network downtime. The FUD and uexpected “events” never “killed” the market. Life is good for Bitcoin. Save money to buy Bitcoin. If you’re already HODLing, continue HODLing. Cool
Supported , Let trolls not be fed so they will stop spreading ..
legendary
Activity: 3472
Merit: 10611
July 02, 2021, 03:33:42 AM
From what I see in the Charts, after a significant new ATH, so far, there always was a 80-90% correction.
First of all 80%-90% drop is not a correction, it is a massive market crash.
Secondly it doesn't happen "after a significant new ATH", it only happens when there is a "significant bubble". For example in 2017 price went from $750 to $1687 (which is a very significant rise of 125%) but we never saw a 85% crash. Instead when price entered the bubble at nearly $20000 the big crash began.
Similarly in 2021 price went from $28800 to $64900 125% and there is no logical reason for a "significant crash".

I used the price at the start of each year for comparison but you can use any other time, no matter how you compare the cycles the current ongoing one is dwarfed in comparison.

The Chart is in a range (daily) and as long as price does not break out of it, why even bother? I am accumulating FIAT and once there is a good chance, I will invest that FIAT into BTCUSD.
I feel like majority of people are thinking this way these days which is why I believe the we are going to see repetition of April 2019 when price broke the resistance and we suddenly saw a 40% rise in matter of hours and by the end of the month price was 120% higher!
This is why I also believe that seeing $100k in less than a month is a strong possibility.
legendary
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Self-Custody is a right. Say no to"Non-custodial"
July 01, 2021, 07:47:22 AM
From what I see in the Charts, after a significant new ATH, so far, there always was a 80-90% correction. Buying a Dip now, makes no sense to me. I am invested, but not buying more dips atm. The Chart is in a range (daily) and as long as price does not break out of it, why even bother? I am accumulating FIAT and once there is a good chance, I will invest that FIAT into BTCUSD. Buying every dip was not the best decision in 2018, so why would it be clever now, when price is in an downtrend?

You are assuming a downtrend.

You might be right, but you might not be right.  Odds seem a bit against your presumption if you zoom out.. and also consider, stock to flow and 4-year fractal as minimum reference points. and also consider exponential s-curve adoption as an additional consideration.

So far we have had a 56% correction.. sure we could get more, or we might not get more.

buying on dips and DCA have been sound strategies and made people decently rich, especially if they have an investment timeline of at least 4 years... sometimes shorter investment timelines can work too, but chances are much better to have at least a 4 year investment timeline when buying on dips or otherwise investing in such an volatile investment, and sure not even 4 years is guaranteed to be profitable, even though BTC is likely one of the most asymmetric bets (especially one with a decently sized market cap) that can be made..

In other words, you are a fool if prepare for down, but you are not adequately prepared for up... and staying in cash comes off as pretty dumb when considered from the perspective of whether you are sufficiently and adequately prepared for up, even while you are likely prepared to have fun staying poor.


You have no other option. I joke about the whalecumulators, but what else can we plebs do? Buy the dip, and HODL! You do not want to end up empty handed on the next cycle, https://twitter.com/misir_mahmudov/status/1118243131584065537

crypto is an investment with high risk and high return, but still traders are always panicking and anxious to face crypto price fluctuations in the market, as now many traders are likely to experience panic because they buy at high prices and of course there are only two attitudes that can be taken now, namely Hold and Cut loss,

I personally prefer to hold all the assets I buy when prices are high and when crypto prices are cheap like now, I add to the portfolio of assets I have in the market, this I do to reduce the losses I get for buying crypto assets at high prices some time ago. I think Hold is a good alternative to deal with price corrections like today, because I personally really believe that the market will improve in the future. Smiley

Your overall post is confusing.. you seem to be framing the matter with a limited number of options DU18, when even later in your post shows that you know better.

The option of keeping on buying is not irrational, especially if you believed in BTC at higher prices, there should be good reason to believe in BTC at lower prices too..

There is also a principle of not investing more than you can afford to lose.

It would be stupid to buy high and sell low, unless you have over invested.. which should not have been done in the first place..

Cutting loses is the opposite of what should be done, so if you bought higher than the current price, and you can't or don't want to buy more, you just hold until the BTC price is higher whether that is 4 years or longer or even some shorter period of time.

Each of us should be trying to figure out our finances (and investments, including investing into BTC) in such a way that we are not panicking.. but have a plan whether that is continuing to buy or holding or some other reasonable plan that prepares us for BTC price movements in either direction (especially in the short term).
sr. member
Activity: 1694
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Binance #SWGT dan CERTIK Audited
July 01, 2021, 06:30:20 AM
You have no other option. I joke about the whalecumulators, but what else can we plebs do? Buy the dip, and HODL! You do not want to end up empty handed on the next cycle, https://twitter.com/misir_mahmudov/status/1118243131584065537

crypto is an investment with high risk and high return, but still traders are always panicking and anxious to face crypto price fluctuations in the market, as now many traders are likely to experience panic because they buy at high prices and of course there are only two attitudes that can be taken now, namely Hold and Cut loss, I personally prefer to hold all the assets I buy when prices are high and when crypto prices are cheap like now, I add to the portfolio of assets I have in the market, this I do to reduce the losses I get for buying crypto assets at high prices some time ago. I think Hold is a good alternative to deal with price corrections like today, because I personally really believe that the market will improve in the future. Smiley
member
Activity: 211
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July 01, 2021, 04:43:00 AM
From what I see in the Charts, after a significant new ATH, so far, there always was a 80-90% correction. Buying a Dip now, makes no sense to me. I am invested, but not buying more dips atm. The Chart is in a range (daily) and as long as price does not break out of it, why even bother? I am accumulating FIAT and once there is a good chance, I will invest that FIAT into BTCUSD. Buying every dip was not the best decision in 2018, so why would it be clever now, when price is in an downtrend?
legendary
Activity: 2898
Merit: 1823
July 01, 2021, 03:01:09 AM
I see FUD from “newbie” accounts EVERYWHERE, creating topics “concerned” about Bitcoin.
There is an interesting phenomenon that I was watching recently which I believe is also the reason for the recent surge of newbie FUDs. The phenomenon is "number of shorts".

Basically there are people who have been shorting bitcoin (with diminishing effect, interestingly) for the past month. The surprising thing is that the shorting peak starts AFTER price has its major drop from $60k+ to $40k (peak #1) and has been growing a lot in the past week or so (peak #2 and #3 that is 2000% increase) without price seeing any more major drops! Which means most of them have been losing a lot of money which could explain why there is a lot of desperate FUD trying to bring the price down so that their shorts can give them some profit.
Basically these people are borrowing bitcoin to sell it (create a sell pressure that didn't exist otherwise) hoping that the price goes down so they can buy back more bitcoin "in the dip", pay back what they had borrowed and be left with some extra satoshis. When price doesn't go down they lose money because they have to pay back what they borrowed and usually have to buy back at a higher price.




I'm starting to shape a theory that at this point, despite being in a reverse bubble™ the only reason why price isn't shooting above $40k is these shorts and the big rise will start as soon as these shorters lose enough money to be discouraged to continue doing it or simply run out of money to burn.


Then those shorters are in the wrong place if they believe manipulating the plebs of Bitcointalk will help them manipulate the market to another crash. It has currently evolved into a billionaires’ market. Every coin sold by a pleb, now will be bought by the billionaires.
hero member
Activity: 1778
Merit: 746
June 29, 2021, 04:33:09 AM
I see FUD from “newbie” accounts EVERYWHERE, creating topics “concerned” about Bitcoin. Listen you Trolls, Bitcoin experienced a stress test, and it passed! Difficulty will self-adjust after a large loss in hashing power, and there was no network downtime. The FUD and uexpected “events” never “killed” the market. Life is good for Bitcoin. Save money to buy Bitcoin. If you’re already HODLing, continue HODLing. Cool
maybe they don't realize that every year, the price of bitcoin gets stronger. or worse, they are people who buy high and sell low, that's why they don't believe in bitcoin and spread FUD.
Well, right now it's better to focus on accumulating assets, because when the bitcoin price reaches $100k, and the altcoin reaches its new ATH, then they will regret it.
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