Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Anything that takes Bitcoin below $20k again will make a lot of people, including me, buy aggressively. That will be a major giveaway because any positive news will lead to immediate profits even before the much anticipated bull market.
I don't see that happening though but then, we always keep open mind as either way is good for me... the beauty of DCA.
I am not sure what to make about these theories about backing up the truck - since a lot of bitcoin believers will already be buying BTC all the way down from $30k, so there can be questions about how much money many of the true bitcoin believers are going to have left if the BTC price were to drop below $20k again.I don't see that happening though but then, we always keep open mind as either way is good for me... the beauty of DCA.
made some gains applying DCA instead of my former pattern of buying at market price whenever I have fund available for buying.
It seems to me that relatively pure DCA practices would account for either cases in which:
1) you have some set dollar amount that you buy BTC at some set period whether daily, weekly or some other period
or
2) you buy based on when your money comes available, so the date and the amount would vary, but perhaps you would have a formula that allows you to figure out how much extra that you have available (accounting for monthly expenses to determine how much is left available, of course).
Surely the more that you vary either 1 or 2, then you are perhaps overly bringing your own discretion into the mix, and it still may well fit DCA depending on the extent to which you may well have some kind of a system in which you are trying to stay consistent but giving yourself some flexibility within some somewhat objective criteria.
So even in your case Odohu, are you holding back? You have money in reserves in which you are going to back up the truck and start buying BTC like a mad man at certain price points? Take a mortgage out on your house, your wife and kids? There is ONLY so much money that anyone can get access to, especially if the price were to fall fast and then how would you be getting liquitity so quickly from other assets when BTC may well be the most liquid thing that you are holding.
If Bitcoin ever go below $20k, I will adjust my orders and be more aggressive. Also, I will immediately suspend other personal needs and use the funds to secure more Bitcoin. I know this might not be the pattern a lot of people will employ but there is nothing wrong with making some sacrifices for the greater good. It does not sound unusually to either plan to do such a thing or to even attempt to carry out such plans if such a dip were to take place, but I still retain a certain level of skepticism regarding how BIG of a game that people tend to talk in these regards in comparison to what they are actually able to do based on the dynamics that I already described in my earlier post.
Not that I have money in reserve but under certain conditions, one will go the extra mile to achieve a target.
That's what I am saying.. it is easy to talk a BIG game in this regards, but frequently it is not going to be easy to deploy or even to decide whether to stick with the plan to deploy and/or to leverage some assets or credit that you might have available (or that you can conjure up). Even though I am saying that I am skeptical, ultimately you are the one who is going to have to make those kinds of planning and/or execution choices and figure out if you actually ended up "backing up the truck" or whatever it was that you were planning to do in order to acquire .00324864 additional BTC.
I did not start building my portfolio early and I am not happy I did not have a reasonable stash of Bitcoin now. So, I will not want to miss any opportunity the market offer me to gain more Bitcoin. The decision may be aggressive and rash but it is worth taking. This may not sit well with those who already have a system and pattern of buying. This does not also mean I am not following my current DCA too. I can just call it plan B. Hope this make sense a little?
Sure it makes sense, and you surely are the one in the best position to assess how aggressive you believe that you are able to be without somehow ending up causing too much stress upon yourself if post BTC performance does not end up living up to your expectations once you execute your relatively aggressive (from your perspective) additional BTC accumulation approach.
Is 26K the new 29.5K?
No. We was just waiting for the mini-dips to fill some more.Who is this "we" that you are talking about?
Is the "we" in the room with you now?