Quote from: JayJuanGee on July 29, 2023, 10:03:30 PM

Quote from: Odusko on July 29, 2023, 09:55:18 PM

Quote from: Wind_FURY on July 28, 2023, 02:41:03 PM

price-based strategy. That won't work if you truly want to HODL. You should have a time-based strategy.

Well despite having long-term perspectives in mind while buying Bitcoin, we must still put in mind that our entry price matters a lot because the buy price is what determines the level and time of profits, this is so because those that bought their first Bitcoin at all-time high price above $55,000-60k+ are going to wait longer before the records profits compared to those that bought bitcoin at a discounted price below $16,000-20k if bitcoin make any all-time high above the last ATH.

So these are the determinant factors that we must consider while holding Bitcoin or trying to accumulate Bitcoin at whatever point, just as JayJuanGee rightly said in his previous comments, buying all the way up is better than buying at an all-time high price.

I am pretty sure that I framed the topic a wee bit differently.

So if you buy at the all time high and you continue to buy, then you will likely be continuing to bring down your average cost per BTC, which will likely put you into a better position than if you were to buy at the ATH and then just sit on such purchase and wait for the BTC price to go back above it...

So a lot of people who bought at or near the all-time high in the $60ks may well be close to either getting back into profits or already back in profits; however, of course, if they heavily front-loaded their investment at those higher prices, then it might take a bit longer before their BTC starts to get back into profits (assuming that they kept buying BTC in the last year and a half or even in the last 2 and a half years.

The strategy that JayJuanGee explain is the best buying formula for those who bought Bitcoin at the all-time high because buying at an all-time high will limit your chances of gaining profits from the investment in the short term most especially in situation where the price of Bitcoin drop significantly after the purchase, but to minimize the chances of losing in on the trend and being able to increase your total Bitcoin holdings, there is the need to continue to buy all the way up and in doing that, the investor must be very calculative with this approach.
Because the percentage of your buy position all the way down is the same as the percentage of your sell position when the price recovers and sells up based on your buying positions and the percentage is what will give you the accurate benefits of this formula.,
This formula worked for El Salvador in their Bitcoin accumulations, despite the fact that, El Salvador first Bitcoin purchase was done when the price was at all high, their never stopped there as El Salvador consistently continued to buy more bitcoin all the way down even at the bottom their still purchased more Bitcoins, and this formula have helped the country to be in a gain position that could cover up for the loses of their first bitcoin purchase.