Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
JayJuanGee
on 20/08/2023, 23:51:06 UTC
[edited out]
so JayJuanGee just like you said I have actually referred back to some previous years ago and Bitcoin dipping has always maintain the support level between 10% to 20% and after then it bounce back going up.

That does not sound like anything that I said.

I did say that the local dip so far is at 20%, yet if you look historically, there are sometimes in which uptrends are happening but dips are greater than 30% and they can sometimes even be greater than 50% or 60% prior to the UP price movements continuing.

Dips can be frequently scary because we do not know whether they are ending the up trend or not, and sometimes we realize that the BTC price is going to stay down for several years rather than recovering and resuming the uptrend.  and other times, it ends up being very profitable to buy the dip, but you cannot know for sure if the dip is ONLY going to be 10% or 20% or even 30% rather than some greater than 30% dip amount.. you can still profit from buying 10% dips.. or even not even waiting for dips and just continuing to ongoingly DCA.. .. set aside a certain amount and buy once a week, for example...

..so while we are in the process of witnessing the BTC price moving UP and DOWN, it is not always clear if DCA would be better or buying on dip would be better or lump sum investing would be better or some combination of those; however, after the price has dipped and recovered and shot up to whatever amount that it ends up going up, then at that point it becomes clear what you should have had done, but it hardly makes any sense to expect that you are going to have hardly any clue about what the BTC price ends up doing, so in that regard, each of us has to figure out for ourselves the various points that we believe that we should be buying BTC and the various points that we want our fiat stash to build up in order to have some dry powder to either buy on dips or just to buy during certain time frames that we find acceptable based on how much cash we might have coming in and how much cash we expect to come in.