Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
bangjoe
on 05/03/2023, 20:27:24 UTC
⭐ Merited by JayJuanGee (1)
what I understand is about a strategy of holding Bitcoin for as long as possible for the next 2-3 years future and not thinking about short-term gains.

Your description of "holding for the long term" is still pretty whimpy bangjoe..

Think 4-10 years or longer..

And also I am not even against any plans in whihc some bitcoin are shaved off at various points along the way.. such a strategy to sell relatively small amounts of BTC on the way up is still largely holding the BTC.. especially if you have been buying on dips and accumulating..

Let's say for example, you had been in bitcoin since about early 2017 (using your forum registration date as a guideline bangjoe), and so during the past 6 years, you had been attempting to accumulate bitcoin fairly regularly, persistently and aggressively within your budget, but really your budget only had allowed you around $400 per month to spare to buy bitcoin, so in that regard, mostly you had invested around $30k over the last 4 years, and you have accumulated around 4BTC.  You are feeling pretty good about the whole matter, and maybe you had been able to increase your BTC stash in the last 9 months or so by a hole coin.. rather than maybe you had been anticipating that you were ONLY going to be able to increase by a fraction of a coin, so in that regard, you feel that you have done pretty good with the BTC's price dippenings in the past 9 months or so. 

Accordingly, you could sell some BTC on the way up at various points, and maybe you would be more justified to sell some BTC if you had spent more than your budget (such as spending $800 to $1k per month rather than your usual $400 per month). 

I am suggesting that any of us can still be in lines with the ideas of this thread by selling some relatively small portions of our bTC on the way up at various price points or perhaps after certain amounts of time have passed.. but we need to be careful in terms of any propositions that suggest that it is a good idea to be fucking around with trying to sell large portions of our BTC holdings in order to buy back more at lower prices that seems to be out of the sentiment of the kinds of ideas that we have been trying to bat around in this thread and perhaps getting into topics of trading rather than ideas that concern the values of buying the dip and holding.. which largely are intended to accumulate bitcoin along the way without having to resort to selling on the way up..
I think after they have passed 2-3 years of course it would be better 5 years and so on.
I believe that I should be able to hold longer for bitcoins.

I know it's a good way to refer from 2017 how the consistency of buying BTC until now will pay off more, but at that time I couldn't because of erratic income so nothing was set aside for bitcoin in the past when the price was low.

But for now I'm not too aggressive in buying bitcoins because other needs are important to me so by setting aside a month it's not a lot to buy bitcoins but when there is additional income then I need to accumulate more bitcoins in that way but for every salary month I think it is quite difficult because other needs sometimes only fit the month's salary that is received.

At least I already have bitcoins that I bought some time ago and I saved them properly, there is also an additional accumulation of the results obtained maybe that is what makes the gain erratic.