Quote from: Cryptmuster on Today at 10:43:27 AM

Quote from: JayJuanGee on July 02, 2022, 04:03:11 PM

It seems to me that the phenomena of buying less as the BTC price goes down exists in a lot of goods/assets. It seems to be some kind of variation of the wealth-effect.. in which people buy more as a good/asset goes up and less as it goes down.

And, surely I doubt that the "wealth-effect" is merely psychological, because the HODLer does actually have more money as the price goes up.. and does actually have less money as the price goes down.

I did the something similar in bitcoin in 2014/2015 as the BTC price went down through 2014, I kept buying on the way down, but not only did I run out of money, at some point, I started to run out of confidence too regarding how long any bounce is going to take (or if it will even happen)... a gruelling effect (mentally and financially as the price is going down).

One thing is to just HODL without selling on the way down (so that is an accomplishment - so long as the price goes back up at some point soon enough before you die or get reckt), and then another thing is to take that whole practice to another level in terms of buying on the way down - even if the amount bought is less - when no bounce comes, there is an ever pestering sound "why did you buy now?", and "why not wait for lower prices?" and "do you think that there is going to be a bounce, crazy?".

One redeeming aspect for anyone having ongoing and incoming cashflow (which seems to be the case with El Salvador - coming also from BTC-related activities in the country) is that the ongoing buying (even at low prices) ends up serving as a kind of reluctant and worrisome form of DCA (that can also be characterized as buying on dip.. but buying on dip with less enthusiasm as compared with buying on dips when the BTC price is higher.. and regular UPpity bounces). If the incoming cashflow dries up, that's another question (would likely cause more reluctance to continue to buy).

Edited to fix some wording and make some ideas more clear

I have not had such an experience yet, this period will take place now. Because in the last bear market, I just didn't have the money to buy. some of the funds were in altcoins and I simply did not sell them, so it can be said that I became a holder forcibly, because I did not want to sell at low prices.

This time I will buy, but I already see that it is not so easy, because every time I think that the price may fall even lower. I'm waiting for the strait and will buy in parts. The fear that the price may not rise again will certainly be, but I would not want to miss this opportunity to buy at a low price, as I believe that in the future it will bring me a good profit. I will try not to buy for the full amount, I always try to leave a reserve in case of large straits.

It seems that El Salvador is not fucking around with altcoins (aka shitcoins), and so yeah whether we are talking about a country level or we are talking about a personal level, we cannot be making assumptions that it is good to be holding shitcoins, DCAing into shitcoins, or buying more of them on the dip. BTC is a different story. Of course, there are ongoing macro-issues and there are also ongoing purging of some loose players in the BTC space (not only some of the various leverage players, but also even the miners who were also using leverage) and in the shitcoin space that will likely continue to have some negative pulling on the BTC price.. but even with that the investment thesis for bitcoin has not really been changed because of the ways that some players were overly leveraging with it and creating poinzi-like products on top of it.

Quote from: Newlifebtc on July 03, 2022, 08:48:03 PM

Quote from: lornadane on July 03, 2022, 03:47:13 AM

Quote from: Cryptmuster on July 01, 2022, 09:12:30 AM

Quote from: romero121 on July 01, 2022, 06:49:09 AM

El Salvador President Nayib Bukele is quite strong and a hard believer of bitcoin. From his tweets and activities relative to bitcoin we can understand. Earlier he gave a small advice to the common people on the price decline of bitcoin as an opportunity to invest and never look upon the charts and get worried. With the present purchase of more 80BTC the reserve gets changed to 2381BTC

But his trend is rather strange, the lower the price of bitcoin, the fewer coins he buys. ) Perhaps there is not much free money now, as one would like, because crisis came, but on the other hand, perhaps he simply does not buy much because he is waiting for a further fall in prices. After all, when the market grows you expect growth, and when it falls, you expect a further fall, such a psychology.

That's the tactic of physicology thinking when they want to buy they think more in a further direction even though so far the price of bitcoin has decreased greatly but to fall even deeper I don't think it's possible it will end up under $20k and won't be possible to bounce below price $10 thousand.

I don't know exactly when you make your post but what I'm trying to tell you that the price of Bitcoin is getting down it was 20,000 last week but the current price of Bitcoin is 19,000 which approximately is going down again and is going to meet up the target of 2017 faget so I believe that Bitcoin price going up will not be something of this particular time.

I doubt that you can presume that the BTC price is going to continue to go down. The price could go either up or down or sideways.... It seems that sooner or later BTC price will start to continue up, but it could take a while to work out various matters of continuing to purge some of those players who were either betting better much on ONLY up - and also there had been some seemingly bad actors in the way that they had been using BTC that absolutely depended on the BTC price to continue to go up for that profiteering to continue, and seems like a lot of those players are being purged too.. which causes downward pressures on BTC prices that are not necessarily going to last a long time, so how much more will be purged (and how long it will last - if it does) is still to be seen.