Time to Hodl or buy the Dip? - page 7.

Wapfika

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Quote from: Youngkhngdiddy on June 06, 2023, 05:26:51 AM

With the current bear run of bitcoin at the market cap of 520.50B, down from 527.83B yesterday and down from 570.09B one year ago, at the price of $25k do you think it is a good opportunity to Hodl or buy the Dip in the current market?

Using a marketcap as reference for the buy or sell indicator is very meme coin. I only see this kind of reference on meme coin because their supply is almost infinity while the price has a lot of zero so degen use marketcap. Cheesy

Anyway, Every dip that involves FUD news is a strong buy signal. This kind of news about SEC suing crypto company is not new and will not gonna give huge impact in the long run for crypto market. Buying more and holding your old holdings is the best thing to do in time like this that everyone is panicking on news. It’s not a collapse but an attack to start a collapse. Binance has a lot of time to react and defend themselves. This is just temporary.

Buy the dip!

Greyhats

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For dip buying I got 3 buckets, e.g -5% -10% -20%. I base the % drop from the quarter high, when the high breaks I re-assess it and sometimes the percentages levels of what dip is. If dip goes below the buckets dca comes in and cleans up. I personally found without doing this you get stuck in it will go lower and then don’t buy camp.

BitMaxz

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DCA only works if you know that the price will rise again soon true traders do not use this strategy they mostly do stop-loss to cut losses and without analysis, you will never know when to buy the dip.

Due to recent news about Binance and Coinbase, there are many investors pulled out their investments from exchanges. So there is still a possibility that the price may decrease more if you don't use stop-loss you may lose more.

Unless you believe the issue on both Binance and Coinbase will solve early then DCA will work and if you can wait for long to hold while buying the dip.

Adbitco

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More dip is possible so i won't encourage you to enter the market presently, carefully watch the market from now till weekend and there could be more chances it drop from $25k to around $21k. Actually don't encourage selling at this moment because you already on lose, so selling now might end up wasting your precious bitcoin instead DCA at this point will help you.

CODE200

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I think it's best to wait it out, the current Binance fiasco hasn't reached it's peak yet so I suggest that holding on to your cash for a while so you can buy more at a lower price because I am sure that if Binance gets into a much hotter seat, there's a possibility that this dump is just the start.

pooya87

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The global economy is too uncertain right now to make any serious investments in my opinion. And it is not only about bitcoin, it is about everything else too. With the ongoing recession and inflation and with the recent re-start of the money printing machines in United States after they increased the debt ceiling we are in for more of economic uncertainty.

For now stick with DCA and HODL...

Yamane_Keto

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Quote from: Youngkhngdiddy on June 06, 2023, 05:26:51 AM

market cap of 520.50B, down from 527.83B yesterday and down from 570.09B one year ago,

So ...

Quote

Bitcoin Market Cap is at a current level of 520.50B, down from 527.83B yesterday and down from 570.09B one year ago.

Source https://ycharts.com/indicators/bitcoin_market_cap#:~:text=Bitcoin%20Market%20Cap%20is%20at,8.70%25%20from%20one%20year%20ago.

Relying on market cap will not give you a good result, because the quantity supplied increases, and therefore the price must decrease to maintain the same market cap. saying that the market cap a year ago and today is the same or increased or decreased is not a measure to predict the price, but rather to clarify the standard of demand against supply and its reflection That's on the price.

We can use moving averages and technical analysis to measure how bad the price is at the current level, which shows that we have not moved much, as we are still in the same level between $25.4k Bitcoin as a bottom and $28.8k as a top, and we may stabilize in this range for a while.

By taking the historical data into the scale, the month of June is not considered a happy month, so I do not expect that we will reach $28.8k during this month.

Source fxstreet

tabas

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Quote from: Youngkhngdiddy on June 06, 2023, 05:26:51 AM

at the price of $25k do you think it is a good opportunity to Hodl or buy the Dip in the current market?

Yes.
The market is like a roller coaster, we're seeing that it's down now then you know what's gonna be next and that's gonna be the upside. We'll be having the halving by next year so as the bull run will be followed by then if we'll based on the market cycle. But it all sums on what are the prices you think are affordable to you. $25k could be a good price when the holder aims to have it sold at $50k or more. And if you are undecided, much better to just follow the DCA approach.

palle11

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If the figures you gave is to be looked at, I will say no matter the dip for yesterday and since two weeks ago should not discourage hodlers. The dominance of bitcoin is still not contested and the halving that is approaching will further increase the dominance hopefully, so DCA at this price is still a good investment idea because soon the appreciation of price will be achieved. I won't dump now but to invest more.

Nwada001

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I think it's the best time to do both, especially hodling. Selling now will only make you incur additional losses, which you never expected, but hodling gives you a higher chance of getting both your profit and invested capital back in the next bull run. If you still have some spare money to buy more in this present market condition, then that's a choice for you to make, but there is no guarantee of what will come next in the market; we might still see more dips in the coming days or a price sparkle back to normal. It's just a two-way street; the choice is yours to make, and the amount you have at hand will also decide.

Because the market is experiencing a drop based on the fuzz caused by the SEC and panic sellers, it doesn't give you the right to use your funds, which you budget for your daily expenses, because the money might not be ready and available when you might need it to cover up those expenses. Invest what you want to use, but don't be in a hurry to use.

Oshosondy

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I have said this before, that I am not buy much until bitcoin gets to $20000. But if it is a month to halving and that has not yet happened, I will buy more.

My advice for now is to continue to DCA.

For people that are holding already, they should not sell, bitcoin all-time-high is coming, which would be after halving. For people that wants to buy the deep, they should be patient, or they can DCA, or they can do that now because the profit is coming. The best period to buy bitcoin is not yet over.

Youngkhngdiddy

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With the current bear run of bitcoin at the market cap of 520.50B, down from 527.83B yesterday and down from 570.09B one year ago, at the price of $25k do you think it is a good opportunity to Hodl or buy the Dip in the current market?

Topic: Time to Hodl or buy the Dip? - page 7. (Read 927 times)