Quote from: woez on September 22, 2023, 02:40:50 AM

Quote from: JayJuanGee on September 22, 2023, 12:18:03 AM

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I was impressed by your statement above "keep buying BTC and revalue your position in 3-5 years from now" and yes. I think the DCA investment model should continue. Well, I want to know. Can Bitcoin get back $34,000 by the end of September 2023?

I meant to say "reevaluate," so that was a typo (or a freudian slip).... Oh? I see that you did not paraphrase me properly.. here's what I said: "keep buying BTC and reassess where you are at 3-5 years from now".. Reassess and revalue are not really great synonyms in the context in which I used the word, but yeah, reevaluate would work as another way of saying what I said.

Isn't it a silly question to ask what the BTC price is going to do in the short term. Yes, it can do a lot of thing, but is it very likely or does it matter very much? Sure, if some of us might still be accumulating BTC we might want to know if the BTC price is going to suddenly become more expensive, so we might end up front-loading our BTC accumulation or even engaging in some kind of leverage buying in order to front-load our BTC accumulation.. but it still seems risky to be fucking around with trying to figure out short term BTC price moves with any kinds of specifics.. and instead just establish BTC accumulation practices that we are happy in either direction that the BTC price might go in the short term.

Sure if we are fairly early in our BTC accumulation journey, then it is likeloy that we are going to have some motives for the BTC price to stay down as long as it can and even maybe to go lower while we continue to buy... and so when are the discounts going to stop and will we change our BTC accumulation strategies if BTC prices end up doing some kind of a step up in price and then end up being supra $34k or even into the $40ks.. or will we just buy at any price.. and the answers to these kinds of questions relate to where we are at in terms of our own BTC accumulation, and other individual factors regarding our cashflow and perhaps our investment timeline.

Quote from: MCUKing on September 22, 2023, 06:14:11 AM

Quote from: BABY SHOES on September 21, 2023, 08:30:22 PM

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Have a look and try to understand what I'm talking about are you really thinking imposing DCA on any timeline without proper strategy execution will work for you (that's a myth). Failed DCA Strategy When Buying Bitcoin

I can discuss it again, maybe I can help you or you can help me...

That is a dumb and whinny thread... yes short term DCA might not work out so well..

With DCA and even in such a volatile asset like bitcoin that sometimes has extended draw down periods, DCA could end up taking many years to really start to see your BTC holdings being in profits relative to the amoutn that you had invested.. sometimes even more than 10 years, even though in bitcoin 3-4 years or longer tends to have started to show profits, even during various points of the worst performance periods, and of course, there is no guarantee that history is going to repeat including that your bitcoin is going to get into profits, merely because history has shown that to be the case. There are no guarantees even though, so far, historically, the longer that you had been DCA investing into bitcoin the more likely that you would have had ended up in positive results and sometimes even quite astonishingly positive results after a couple of cycles.

You can look at this website and see that 6 years of investing $100 per week into bitcoin would have gotten you around 2.12 BTC with $26k invested, and sure you can tweak the dates, and you may well not be profitable if you started less right around the time that the BTC was peaking in 2021.. so even 3 years ago is likely only barely getting you into the potential of profits with a DCA approach of $100 per week with around $15.7k invested and a little less than 0.57283 BTC accumulated, but it does not necessarily make DCA a bad or a wrong approach... as long as you are thinking longer term in your BTC investment.

Quote from: MCUKing on September 22, 2023, 06:14:11 AM

Quote from: JayJuanGee on September 22, 2023, 12:18:03 AM

Looks like gobble-dee-gook to me. If you have a long investment time horizon, then just keep buying BTC and reassess where you are at 3-5 years from now. If we go by your forum registration date, you have already been in BTC for a bit more than a year, so maybe you have been able to accumulate some BTC during that time, and maybe you are not yet in profits, but whether you continue to accumulate more or not has to do with your own situation in terms of how many BTC you have already accumulated and what the rest of your personal circumstances look like...

Hmm, Yes sir considering my registration time or even as I'm familiar with the market even before registering on the forum, I made some mistakes in my early days when the market was moving on its peek time so, from my experience I did improve my journey by learning and executing those strategies until now as per my goal I'm moving gradually. I wont say I have a more significant amount comparing to others but according to my own boundaries I'm doing well, at least in my zone.

Fair enough. I know that the first several years investing into something like bitcoin might not have positive results, and people might end up making a lot of mistakes.. and in the end, you have to figure out your own situation in terms of your various psychological and financial circumstances, including how aggresive that you feel that you can be in terms of your bitcoin accumulation (if that's what you choose to do), and surely I have frequently mentioned that the assymetric nature of bitcoin does not even compel anyone to have to be aggressive in their bitcoin accumulation in order to get themselves into quite a comfortable place and to end up having more and more options down the road... even though at the same time, BTC accumulators sometimes will have regrets in regards to their having had not been as aggressive as they could have been.. and maybe they don't even necessarily see the pay off until several years down the road... depending on when they got started and also how consistent they might have been in terms of either regular DCA buying or some other variation of buying that might have allowed them to perform at least as well as a strict DCA approach.

I think that there are examples that go in both directions in terms of whether some other approach might have ended up beating a strict DCA approach if we start to look back 4-12 years or so.. .and yeah, maybe it is not even realistic to try to look back much further that 10 years back since, there were not as many ways to buy BTC back before 2013.. especially for normies, even though there were some ways to do it that required more and more efforts to figure out or to be in the right place geographically..

And, even now, it is not even necessarily easy for people to get onto (into) bitcoin in all parts of the world. Some places are going to take a whole hell of a lot of effort to figure out how to buy bitcoin. .and then if successful in figuring out how to buy it, then there are probably more ways to figure out to store it, but even storage is not easy in all parts of the world in terms of trying to figure out ways to lessen exposure to third-party custodians.

So sometimes screw ups can come from bad information and/or bad ways of getting bitcoin and then maybe getting confused by how you should store your bitcoin if you do end up figuring out how to get it.

Quote from: MCUKing on September 22, 2023, 06:14:11 AM

Quote from: JayJuanGee on September 22, 2023, 12:18:03 AM

trying to figure out what might or might happens in the market in the short-term is another question that may not really matter too much, including nonsense discussions of sentiment. You really are likely to get yourself into trouble if you are trying to figure out what to do based on market sentiments rather than just having some kind of a solid plan that is based on your own finances and psychology rather than giving very many shits about how the other people in the market might feel about bitcoin.

Sir, I'm aware of it and I do realize that market sentiments are just temporary influencers of the market, but as investors, we need to realize in which zone we are, whether it is a distribution zone, Accumulation zone, or profit booking zone so we need to shape our investment strategy with DCA accordingly this is what I'm trying to express by using the term sentiments Because we can judge the zone with the sentiments only.

As I already stated, I don't consider sentiments to be a very good thing to attempt to figure out what to do and/or how to attempt to maximize the amount of bitcoin that you are able to accumulate without getting mislead into some baloney mumbo-jumbo that may or may not be correct... so you may well not end up accumulating more BTC because you end up getting your measures of sentiment (or whatever people are telling you about sentiment) wrong.

Fuck sentiment. It is not that helpful, even if you believe that it is.. and even if you want to strategize your BTC accumulation approach what you believe sentiment to be.

Quote from: MCUKing on September 22, 2023, 06:14:11 AM

As I said in my last post past few weeks were a golden opportunity for efficient accumulation even for the DCA strategists. Why I'm saying all this a more couple of the upcoming weeks will answer.

I doubt that we are in a great "golden opportunity" for accumulation based on sentiment, but instead because bitcoin is a great investment and it is likely being pushed lower in prices and staying here longer than it should..and at the same time we cannot know how long it is going to stay here and we cannot know if it is going to go lower or higher.. at least not in the short term, even if people are telling you that they know, beyond something in the ballpark of 50/50 assertions.

For example, if you have $26k and you are able to accumulate 1 BTC at $26k, or you are able to get 1.3 BTC at $20k or 0.7647 BTC at $34k, sure those might make differences when BTC is at $500k or higher in 2030, but I am not really sure if on the margins you are really going to be able to figure out how to make sure that you get more than 1 BTC with your $26k rather than getting stuck in some situation in which you end up getting less than 1 BTC with that amount... even if you think that you have it all figured out.. based on sentiment blah blah blah or whatever.

Quote from: xvacator on September 22, 2023, 08:24:24 AM

Quote from: woez on September 22, 2023, 02:40:50 AM

I was impressed by your statement above "keep buying BTC and revalue your position in 3-5 years from now" and yes. I think the DCA investment model should continue. Well, I want to know. Can Bitcoin get back $34,000 by the end of September 2023?

It's hard as we are now in September which is almost the end. I also doubt the price can get back to $30k by this month.

All can happen if one big news boosts the price such as Elon going back to accepting Bitcoin or another country accepting Bitcoin as a legal tender. But that is not easy.

Yes, DCA investment should continue as the price is still below $30k. It's a good price to buy Grin

Bitcoin price can more than double in less than 24 hours, but it is a big so what. We should not be planning our strategies on those kinds of happenings, even though maybe it would be helpful if we were to be prepared psychologically and/or financially if such a thing were to happen, even if it is a low probability of actually happening.

Quote from: adultcrypto on September 22, 2023, 08:56:28 AM

The above chart is Ethereum features. If I'm not wrong, our focus here should be Bitcoin so I don't really get the point you are making with Ethereum chart.
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Yeah.. good point. fuck ethereum.. and other shitcoins.

I had not even noticed that dumb-ass chart is not even about bitcoin. Ethereum surely is not relevant to this thread. The tail does not wag the dog... and the only dog that I see is bitcoin.