Topic: Buy the DIP, and HODL! - page 56. (Read 129437 times)

Remember this and it's true investing requires patience most of all, if you have less patience you won't be able to sustain your investment. So keep calm and keep busy investing regularly, current time investment is likely to benefit you the most. Because Bitcoin is heading for a peak in 2025, and this current month is always a month for Bitcoin price to improve. 
In this case it is most important to follow the DCA method because even if you invest when the price of Bitcoin is on the rise, your investment will be right because by following the survival strategy your investment will be long-term and it is possible to experience huge profits later. This is why risk tolerance and patience are key strengths of these two investments.

I have come to understand that rank its just a flag in the forum. The level of knowledge on Bitcoin is not being checked by the level or rank of a member but by his contribution in times like this. One can be a newbie, member or jr newbie and still have wide knowledge regarding Bitcoin investment. Personally he a low rank member might be along time investor who just joined the forum a few days ago. But has started investing in Bitcoin for over 5 to 10 years.

That's by the way though. Back to the topic at hand. No one have any idea on what will be the price of Bitcoin today, tomorrow or years to come. We can only make realistic speculations and be optimistic on what we have said yet its uncertain. As soon As is typically practicing timing the market. That's a bad idea to time the market as the perfect time may never come for him to invest. Any time is good to buy Bitcoin as long as we can afford it through whatever strategy we choose to.

One thing you should realize is that, regardless of your level of intelligence, anyone may be scammed in one way or another. Some people will believe that there is no tactic a scammer can use to deceive them, but it is a lie; what we can wish for is we never fall for it and lose our money. Each path that involves money needs a regular education, even for those who are not new to investing. It's not a good idea to stop learning because we are always discovering new things. It requires a lot of knowledge and understanding, which cannot be acquired in a single day.


However, this type of story happens on the forum every day; people constantly complain that they were interrupted by online platforms clicked on a link and got scammed. I believe that if your friend was a member of this forum or was aware that social media has ruined some people's lives after they clicked on any link they came across, she would have avoided the link immediately. I think you should tell her more about this forum; it may benefit her in the future.

The best step is not to expect a lot of price increases after the election is over, but just focus on continuing to buy because that will keep us in mind for long-term investment. I will not think about how the price of bitcoin will be in the near future either after the election or until the end of this year because I want to continue buying until I am satisfied with my BTC holdings.

You assume that they are behind in Bitcoin because they are late in investing in Bitcoin. I think that idea is wrong because there is no late for beginners to invest in Bitcoin, they can buy aggressively and also in lump sums and with the DCA method. it is not too late for them to invest in bitcoin because Bitcoin is the best investment without inflation.

What do you mean by having your own bitcoin, whether you have not invested in Bitcoin, or have made many mistakes in previous investments, I think you can learn about good practices in long-term investment so that you do not make the same mistakes again.

To me with or without the election I believe Bitcoin is still going to do what it does the most surging massively ,so inorder word even when the election endup not going to bitcoin way bitcoin is still going to do good through it may show some slight effect to bitcoin price but still bitcoin going to bounce back stronger.

So I will keep playing my part by continuing with my accumulation till have gotten a nice amount of bitcoin, some folks in this space are still at there doubting bitcoin, and some are waiting for a perfect entry, without knowing that there ain't no perfect entry , because now is alosba perfect entry. So they avd position yourself in yah bitcoin accumulation.

You are right here. No one is 100% certain of what will be the fate of Bitcoin if there will be a dip or not on a particular date. If we use some common sense to speculate on Bitcoin price it's still nearly impossible to identify a dip. If Bitcoin seems to be dropping it's actually a clear sign and a good time to consider buying rather than waiting for a perfect date.

As for emergency funds, you speak the truth as well. Emergency funds must be separate from our investment funds. They are meant to be for unexpected expenses, and not meant for gambling on market dips.

There is no need to worry too much, this year the Price is likely to Skyrocket and when the Elections are favorable for those who spoke well of Bitcoin, if not it goes down and recovers anyway , the DCA method is the Fundamental way out for those who Believed they had been left Without the opportunity to Obtain Bitcoin , I hope to have my own Bitcoin even in a few years , I am Working on that.

One cannot go over a cycle without meeting the dip part of the market, the most controversial reasons why most people misses to buy at the dip is due to low capital, sometimes not the concern of not taking the advantage but purchasing just the usual that has already been kept for DCA, this means they were not able to accumulate more by putting additional funds into their investment.

The Dip and DCA are both strategies that can be applied to our investment process, to increase productivity on the total accumulated Bitcoin in our portfolio. Using only the Dip can be efficient but poses some risks which involves holding the funds while waiting for the better entry during the dip part to invest meanwhile those who DCA are unbothered and purchase according to how they programed their respective intervals which most likely will happen to fall into the dip part also. But to be more efficient than singularly using one strategy, good investors knows how to apply both strategies in a way it becomes very comfortable and much prefered reflecting enough load of Bitcoin in the portfolio.

This information is very good since we are all Bitcoin investors so that those that have not heard of it will learn because a lot of people are getting hacked thinking that it was from someone or a friend that hacked them when the truth is that their lack of knowledge about the risk they could face on their privacy if they did not have anti Malware protection, when I have not added my anti Malware protection I use to have series of messages asking me to signed up in other to have a good look on the things they offers, so based on the idea I already have I no that those links could possibly contain a virus that can make them invade my privacy so I always ignore such links, so anybody who does not have anti Malware protection should avoid certain links if they received it.

Sounds bearish dude, bat slappenings! 

Dont mind the haters, I think its very mature of you to state that you were unable to purchase because you didn't have funds available. This to me (imho) is one of the main skillz an accumulator has to learn and follow through on. If you dont follow your rules and say for example overextended yourself and bought with your emergency funds you are just part of the fomo group of investors. Fomo is bad practice, you didn't do it so well done you survived to buy another day! :-)

When your new funds become available on 25/10/2024, and your still in the accumulation phase then  would recommend continue with your normal DCA amounts and frequency.

If your overly worried about your emergency fund, its ok to adjust down your dca amount or even take a break for a month and pivot that cashflow into your emergency fund. When you feel comfortable flip back/increase your dca. This is another skill of equal importance, mitigating risk.

Keep stacking :-)

Yeah buying during the dip is a good idea however one should not wait for a dip to happen before he or she can start there Bitcoin accumulation because waiting for a dip is a waste of time and it will delay your accumulation journey, have you asked yourself what if a dip don't happen or what if it happens in the next 3 to 5 years.
Is better you use the DCA strategy and start accumulating weekly or monthly and then if you have a reserved funds you can decide to use it to accumulate more Bitcoin when ever there's a dip however before using your reserved funds for that make sure you have an emergency funds and float funds so as to help you when you are in need of financial assistance in other to prevent you from dipping hands into your Bitcoin investment.

Some people who cannot take advantage of the Dip condition when they see Bitcoin is at a certain level and they realize that at that time Bitcoin is in a Dip condition, they can be considered as people who lose in taking advantage of such a good time or moment. Because people who are ready to take advantage of such conditions will always be moved to buy periodically even though sometimes they will also use certain methods such as DCA. In addition, there are also people who are afraid to buy Bitcoin even though the price is Dipping Because maybe they don't have the mentality to buy or maybe they don't have the capital.

The dip is not always certain until it occurs I still wonder what made you believe that it will dip on your mentioned date.

The emergency fund is not what you will use to accumulate Bitcoin, emergency fund is when an unforeseen circumstances occur you could use your emergency fund to sort it out with out selling out your Bitcoin hodling for is your discretionary income you will use to buy Bitcoin.

For there is no right time to buy the dip for it may not even occur so why keep waiting and miss out more opportunities in the market when you can actually buy Bitcoin with your DCA strategy which allows you to accumulate Bitcoin weekly or monthly irrespective of the price and hodl for long.

Buying during the DIP is definitely a good idea, But Not everyone can buy during DIPs. Everyone has their  choice of investment strategy and their own approach, its important to stick to what aligns with your aims and the available funds at your disposal for accumulation. A lot of folks prefer the DCA method to accumulate consistently because it saves you from market timing stress.

It is not crystal clear to say or being certain on the outcome of the market according to yout statement, Trying to peg days on how Bitcoin is gonna work can be a disappointing approach. Our approach should be on how to accumulate and grow our portfolio. As soon as you have been in this forum and you ought to know that Emergency funds are not used for buying bitcoin rather for unforseen events. Maybe you are mistaken reserve funds for emergency funds  and having a certain date for dip is wack.

What makes you think there's going to be a dip on the 25th of October 2024 or are you just guessing?. You are begining to sound like a newbie who doesn't understand how Bitcoin works while you are a Full Member in the forum, though nothing is impossible I mean Bitcoin is a very volatile asset and it can be possible that it may dip on the 25th but that's not how to go about Bitcoin investment, if you really want to increase your portfolio you shouldn't be waiting for dip before you invest and also stop specifying dip date because you may be disappointed. DCA method is very much effective, you don't need to have enough funds before you accumulate and I don't think there's any specific amount while DCAing rather our investment money depends on what we get weekly or monthly that is to say that there can be a decrease or increase in our weekly or monthly income.

I actually commend you  @justbillywitt for putting him in his place, no one is certain of what tomorrow brings, so he shouldn't be saying what he said, and to me, they are all wrong.

Then as on the aspect of waiting for a dip before making a purchase of Bitcoin, I really do think it's a wrong strategy of accumulating Bitcoin because by waiting for the price of Bitcoin to go deeper you might miss a whole lot of buying opportunities that presents itself, so it's best to buy Bitcoin now regardless of it current price, because   we are still in it early days, it's still very cheap considering how much it's going to be in  like 10 to 20 years time from now.

And as for the emergency funds, bro you were actually spot on when you made it very clear too him that it's not meant for investing, it's only purpose is to serve as shield against anything that will make you temper with your holdings, not for investment of any kind.

Then lastly, concerning the statement I made bold, I actually don't think it's necessary, you don't have to be abusive when correcting someone, I believe that we all are still learning and correcting him was actually the best thing you did, but abusing him in the process is actually not nice.

This is one of the most lame post I have seen for a while now. You are sounding as if bitcoin is operating according to your timing and you can control the market at your own will, to know the right day and time to buy the right dip. Lol..You ain't even sounding as if you are speculating, rather you are talking with all boldness that there will be another dip on the 25 of this month. If you possess this power, you would have become the richest bitcoin investors in the world by now. Which one is the right dip if I may ask? You have to be plain when making use of certain words because we have newbies and learned minds here, so don't confuse yourself. Bitcoin dropped from $69k to about $65k and you think that's not dip enough, in a bullish month like October. And you are waiting for the right one according to you. And to make things worse, you even gave a time for that to happen? So you are trying to tell us now that any price that bitcoin will be tomorrow will be what you call the right dip? Going by your little brain. Another thing is that your emergency funds isn't meant for buying the dip, because the dip is not an emergency.

Not only ignorance, greed is one of the major traps we set for ourselves that helps scammers exploit us. Done people have such knowledge, but they're too greedy tho apply it where needed and as such are ready preys to month watering offers by scammers which directs them to the phishing sites. Avoiding public WiFi networks is also important as our data is very much vulnerable to the hosts of such network and also malwares can be injected into our devices over such network.

And no matter how informed you're, you need to regularly update yourself on security of your assets because scammers are getting crafty everyday and you wouldn't be safe for a long time banking on outdated knowledge

This is wrong, whether the investor stays focused or not on his Bitcoin accumulation process without considering shitcoins, as long as he initiates behaviors that are likely to get him hacked, his investments would surely be compromised and I think our pattern of engagement and wealth of information on online security principles keeps us safe from scammers and not our choices of investment.

We always have to be objective, we can never use emergency fund to buy Bitcoin Deep. The main purpose of emergency fund is to deal with unexpected situations like car repair, family medical emergency, emergency fund is very important to meet any unexpected situation and keep your investment intact during inflation. Because the monthly or weekly expenses of each family increase greatly in During inflation, it becomes difficult for many to maintain the consistency of investment during that time, so it is always important to be prepared. If an investor does not organize a emergency fund, you will be forced to sell your bitcoins hold in case of any sudden unexpected financial loss, which is very risky. So it is imperative to keep emergency funds to meet such unexpected emergencies and to continue holding this investment continuously for long term.

Again if you are planning to continue your DCA as well as buy a dip, then keep an emergency fund as well as a reserve fund. When the price of bitcoin suddenly drops, you can use that reserve fund to buy bitcoins at a lower price and increase your portfolio more, but you have to buy this dip only with reserve funds and not with emergency funds. The funds must be spent on that work for which you put your funds. (not dealing with emergency situation with reserve fund) and (not buying dip with emergency reserve fund). We must stick to the purpose for which we seek the funds, i.e. buy dips with reserve funds and use emergency funds only to meet urgent contingencies. Emergency fund for other works or reserve fund for other works cannot be used.

So before starting investment everyone should focus on building an emergency fund first, An emergency fund should be kept to last at least five months. This will protect you financially this five months and you will be able to hold your investment with peace of mind.

And reserve fund is also very necessary to invest in Bitcoin, in short, having a reserve fund and emergency fund to invest is a prudent financial plan, it ensures investment stability and personal financial security. As a result you can continue your DCA procedure uninterrupted for a long time. And you must build a strong source of income to continue this DCA regularly, so that there are no interruptions in your DCA operations or threats of stopping the DCA.