Topic: Is this a good plan (Read 661 times)

Specially now that the market is moving sideways or simply does have minimal volatility which it doesnt really follow any possible Technicals that had been set out
just like mine.

Accumulation level or point is really hard to determine but as we do observe on where the market goes going down gradually which is really hard to be predicted.

Therefore, for those who are eyeing  for some opportunity to get in then its better to wait up a bit before making any positions.

To me the best plan right now is to wait and this is because it seems like a dip is coming and this could be a great opportunity to load on more bitcoin, and once you do then the only thing you need to do is to hold those coins, it is not going to be easy because as we know the market does not move in a linear way and it can have extreme ups and downs but if you know about the technology behind bitcoin and you are convinced about it then you can hold your coins through the bad times and enjoy the huge profits you will get during the good times.

Even when you buy at the bull time, if you have an income that you can save money from that means you could keep buying the more it drops and that is DCA like the OP suggested. So let's assume you bought 10k at 60k, that is horrible but you did it, then you can keep buying 1k each month that follows which means in a year you will be in a great situation even if it doesn't go up, if it goes up? Then it is going to be even better which is what I believe we should be focusing on.

I keep saying that if you can keep buying then there is no wrong price and nobody listens or understands, just keep buying once a month on equal numbers, could be 10 could be 100 could be 1k doesn't matter, and if you keep doing it, then there is nothing we should be worrying about, just be happy about it because you will profit one way or another in a very long term situation.

Investing in bitcoin when the price drops is not wrong but it is the right choice to buy bitcoin. The price of bitcoin at the moment is around $ 31,000, we can only hope that in 2022 the price of bitcoin rises and breaks through $ 90,000. I will hold my bitcoins until 2022 whether the price of bitcoin will go up by more than $90,000 or it will drop to $20,000.

I think that it's a quite good investment plan. It's good to think about not going all-in when the price is at a certain level. It's good to distribute the amount to invest at different levels. Thanks to this strategy, you won't miss the opportunity when the price goes even lower than this.

If you can make a buy during the bear season, you'll chance to make a profit during the next Bullrun is high but if you are buying during the bullish season, that is something challenging since we are not sure if that market will even surpass the last Bullrun. I mean, it is better to start investing during the bear season as you can make a profit even without waiting for the bull market. 

But how to make this plan works, it is simply we need to study the market and don't jump into it without any ideas.

Optimistic. I like it. It will happen, we just never know when but it will. Same as you I am sure of it but I just don't have the capability to buy more.
I already did when the price was $30k just to bring back what I have sold too early.
I want to keep it as Bitcoin from now on and maybe sell at a price that I think is enough profit that I won't regret it anymore.
Then, leave some just to make more if another bull run happens. I like your strategy and if ever I have the capital I'll do the same.

Investing in bitcoin is the best plan at first instance and nothing can go wrong with it if you are long term holder.When prices will bounce back to $70k you will feel regret that I should have invested more at prices below.So investment in btc is perfect plan and purchasing at dips serve as an extra bonus with it which you should not miss at all.Keeping in mind the volatility factor and your investment could come up very low and if you can handle all this go on with the same.

There is nothing to worry about, when there is storm, there will be calm, when there is bull run, bear run will also later result. If there is bear run now and Bitcoin price dip below certain price specified, I will buy. Only people that can panic are newbies that do not know much about how positive holders should be. Like me I am positive that the price will reach highest price again and pass over it, it is not just that I believe this, I just know that it will occur.

No wonder that plan will prosper as long as btc continue to grow unexpectedly, then try to learn more new things around you to prevent emotional battles by the time panic would tend to happen. That's what every trader encounter in every plans they had, because several factors will hinder your goals due to unwanted market changes. We need to consider those bad times, before achieving successful results on our precious assets.

For newbies the most difficult thing to do is to have the patience necessary to wait for the bull run to come again, think of all the people that have entered the market since the pandemic started, they knew nothing but growth and this gave them a misleading impression out of bitcoin and they thought the price will grow forever and now that they know this is not the case most of them are simply not going to wait for long enough and will sell their coins for a bad price when they should be buying instead.

If we can use the same amount of money to invest in bitcoin and buy bitcoin at many low prices, that can give us more satoshi and that means we will have a chance to sell many satoshis make a profit. I am ready for the next $60k with buying more satoshi from now and the next lower price.

You are right. From that, we need to try to make as much profit as we can so we will have a chance to double or even triple the amount of the money that we have before. I am sure that will be a matter of time that will show to us about how big our profit is in the future. The thing is how we can try from now on and use every chance to invest in bitcoin so we can make a profit in the future.

in cryptocurrency it is not always the trades that we do that will generate profits, and sometimes losses can occur in every transaction we make in the market, and many things can cause a trader to experience losses when trading, because there is no analysis or strategy that can 100% accurate in cryptocurrency trading, but even so we must at least have some basic knowledge that can indeed be our reference in trading, because if we trade without any analysis and only rely on instinct, of course it will only bring losses from the trades we do.

To be honest I had done it before but with alt not on BTC,
It is a good plan the only problem with it is yourself if you also couldn't control yourself just like what happened to me,
I was dividing my investment plan into 2 or 3 and the first one was cool but when the price started to increase I got greedy and screw my plan and invested all of it after the price get high,
And after a couple of days the price went down and I lose some of my money.

I think that it's a quite decent plan to implement. These levels are good to think about it seriously to accumulate more. If my aim was to HODL, I would prefer to buy more. But I wouldn't like to affect you of course. One should make their own decision after asking questions about a topic.

So far, Bitcoin price seems to be more sideways. We can see the high price and low price is only around that rate.
And well, this may still last for weeks.
But, I also personally really expect the pump price of Bitcoin at least in this year, until the end of this year before the next bearish time again.
Does it seem to be a condition where Bitcoin is at a low price, being a rest, and then it may be heading ready to pump again?

Still doing investment in Bitcoin is also a good idea as long as we have been ready for the risks. Me too, expecting Bitcoin will hit $60k again and more this year

I think that there is no problem about this strategy. In the end, you are buying from really advantageous levels considering a new bull run in the future. When the price even reaches its old level ($60k), You'll be in a lot of profit that's for sure. So I think that it's a good choice.

It doesn't even matter if his profit is a lot in $ terms, as long as it is good in % terms and that is all that matters. Doesn't matter how much money you have or not, it only matters how much money you had versus how much money you have, that is the only thing you should care. If you could double your money every single year, only double and nothing more which we all know it is quite possible in crypto, you could go from 100 to 200 to 400 to 800 to 1600 to 3200 to 6400 to 12800 to 25600 to 51200 to 102400 to 204800 to 409600 to 819200.

So in just 13 years you could turn 100 dollars into 820 thousand dollars, this is of course not valid for people who make crazy moves, those people can make much more in a shorter span of time or they could go to zero, this is just people who chase 2x a year and that is definitely possible in crypto because of how volatile it is, so buying when it crashes and selling when it bull runs could give you this on average.

Collecting more btc with different price variations will be more effective than buying all of them at the same time, the market is expected to continue to decline and I have prepared myself to collect more coins under $30k. Are you ready for $60k in the future, so don't miss this opportunity now

OP: It is a good plan and adequately prepares for down. My concern is that it doesn't involve a good plan for up. May I suggest introducing a second layer to the plan to slowly modify based on time. As you've probably seen by now, your limit buy levels as set now have thus far only accumulated the smallest amount that you purchased at $31k, and as more time passes without reaching your other levels, the chances of hitting that bottom $20k level decrease. So, assuming your initial sum was large enough to even contemplate further splitting, what if you take your bottom level and split it into 5 again, and each week buy with that fifth of a fifth at whatever the price is at for that week. That way, if the market continues it's sideways action for 5 more weeks then shoots up never to see $30k again, at least you have accumulated 2/5ths of your initial sum at an average around the bottom. But if it drops back to $28k you're still covered to average down with your remaining layers of Limit Orders. So following through with this second layer, after 5 weeks you reevaluate. If you still feel strongly that a dip to $25k is likely, then maybe just hold and hope, but if as time has passed it becomes less & less likely the $25k mark will ever be seen again (which I suspect will be the case) you can split that 5th into 5ths to continue your weekly buys. This way even if we never again see anything below $28k, you have prepared for UP and accumulated as much coin as possible with the reality of the market. As it is, rather than just how we speculate it will be.