Quote from: Wind_FURY on Today at 07:02:44 AM

But I have a question for all of you who regularly visit this topic. With the high probability of a recession coming in many regions of the world, do you actually believe that Bitcoin will not be affected by the crash of the legacy markets?

You do not necessarily understand bitcoin if you are attempting to put too much correlation to "legacy markets." Sure there are liquidity correlations and there are people who play bitcoin as if it were the same as any other market.. without necessarily understanding and/or appreciating the potential for exponentials. .and even the sly round about ways that step ups in value have historically taken place in bitcoin and are likely to continue into the future (even though surely not guaranteed).

Quote from: Wind_FURY on Today at 07:02:44 AM

Plus if you do believe that a legacy crash will also cause a Bitcoin crash, wouldn't it be a good idea to wait for the DIP?

Yes.. it might and it might not. There also could be a bitcoin step up that comes prior to the crash, and we might end up crashing back down to the current price (or even a higher price) rather than a lower price from here.

Surely, it does not hurt to hold some dry powder on the side for various dips, but I would not be getting overly excited about the possibility of sub-$20k bitcoin when bitcoin prices might not ever drop below $25k ever again.. including they might not ever drop below $26k again.

I know that you like to get so excited about buying on dip scenarios, but I have my doubts about that approach being a very good one when it comes to bitcoin (except ONLY as a kind of supplement approach rather than a main approach), even though it does sometimes end up working out positively for you.

Quote from: Wind_FURY on Today at 07:02:44 AM

It doesn't need an answer. It's something for each of us to evaluate in our own "shower thoughts".

It's not the first time that you have raised that same point.. .. I hope it is working out for you and you are not holding too much fiat on the side rather than buying the dips that have already been happening.

Pretty decent BTC prices to be already getting BTC below the 200-week moving average, and you are spending so much time thinking about ways to stack 0.00062817 more BTC during a fantasy dip that might not end up playing out.

Quote from: BABY SHOES on Today at 09:03:52 AM

Quote from: JayJuanGee on Today at 04:06:46 AM

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Our behavior towards bitcoin does not need to be more aggressive even though the goal is good - I just want to be more calm with what is achieved not because of forced aggressive behavior.

Of course, each of us needs to choose the level of aggressiveness that we want to employ without causing too much stress upon ourselves, and maybe I should provide the example $10 and $100 per week again... .

Let's say that it is pretty clear that based on your cashflow you are able to invest between $50 and $200 into bitcoin every week, and so you consider that a reasonably aggressive strategy would be $100 per week.. It makes you a little uncomfortable, but you are still feeling like you are being sufficiently aggressive.

On the other hand, if you instead choose to invest between $30 and $50 every week because you want to make sure that you don't have any stress and that you are able to have as much fun as you can with your weekly money, then maybe in that case you are not being aggressively enough, and after 4-6 years investing into bitcoin, you are still going to be advantaged by your $30-$50 per week investment into bitcoin, but if you had been employing the more aggressive strategy of $100 per week you would end up with 2-3x more bitcoin. So, of course the level of your aggressiveness and the level of your discomfort with your aggressiveness is a matter of degree and a matter of your choice based on your particular circumstances.

It is not forced because you choose it, and if you are actually causing yourself to be more aggressive than your comfort level, then that can also end up putting yourself into a situation that may end up feeling forced, even though you were the one who choose the aggressiveness level that you would employ.

Quote from: BABY SHOES on Today at 09:03:52 AM

Quote from: JayJuanGee on Today at 04:06:46 AM

I know that some of the members here like to use the word consistently, and I am not sure if I really like that word, because you can be persistent and continuously making sure that you are investing on an ongoing and regular basis (such as weekly) but there might be some weeks that you are able to invest $100 into BTC and other weeks that you are only able to invest $5, and the part that you were consistent about has to do with your ongoingly monitoring the amount that you are investing so that you are able to be as aggressive that you are able to be in accordance with your budget and your specific situation, but you may or may not end up choosing and/or following any kind of mandate regarding amount that you might end up doing...

I'd rather have it on a regular basis than $15 to $100 in a few weeks which is sometimes hard for us so $15-$20 isn't too much pressure but you still have to balance it with other needs even if you have extra funds.

In the end, I think that we are largely saying the same thing.

Quote from: EarnOnVictor on Today at 12:22:22 PM

Quote from: Salahmu on September 25, 2023, 06:46:16 PM

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you might want to use better approaches that will earn more for you or that will complement the DCAing since there are many approaches to investing in Bitcoin, it's wise to diversify.

Fuck shitcoins. We are not talking about shitcoins here. If you were not talking about shitcoins, then your statement surely does not make that clear. "wise to diversify" sounds like code for "buying shitcoins could be helpful" when that truly is neither true and also shitcoin pumping (or pumping the idea that shitcoins are good) is not a part of this topic.

Quote from: EarnOnVictor on Today at 12:22:22 PM

What I advise in this regard is to study the market carefully and never buy when the price of Bitcoin is high regardless of your DCA approach.

You are wrong. A strict DCA approach does not get distracted by price.. .however, if you are suggesting a less strict DCA approach or some kind of hybrid, then there is nothing wrong with that... but don't be implying that you are still following DCA when you are not.. In those kinds of cases you are purposefully deviating from DCA and suggesting that would be better, when it may or may not end up being better than just following a straight DCA approach. We cannot presume that everyone has time to be fucking around trying to figure out the price, and that is part of the reason that a strict DCA is suggested as a starting point... and sure of course, anyone is free to deviate from DCA by employing various price movement strategies, but that is no longer strict DCA and not even necessarily a good idea (even though you seem to be suggesting that moving from strict DCA is "obviously" better.. which truly is not true)..

Some times people attempt to get to be too smart for their own good, and I have no problem with making suggestions but it is not necessarily going to be a good thing for everyone to be fucking around with various strategies that may or may not end up working, even if you have a lot of confidence in such deviation.

Quote from: EarnOnVictor on Today at 12:22:22 PM

Take the recent event for example, Bitcoin hit almost $27,500 recently, and that was when I knew fresh trouble might start, and you can see what is happening now.

No we cannot see what is happening now, except maybe BTC prices could go up and maybe they could go down. I can see that, which is almost always true. Do you think that you have insight regarding which way the BTC price is going to go from here?

Quote from: EarnOnVictor on Today at 12:22:22 PM

Nonetheless, if you are conversant with Fibonacci retracement, you would know decisively in line with the price action that the coin was stopped by the 61.8% 1D Fibo level and a bearish price action below the line pointed to a bullish failure and an activation of a bearish short-term reversal.

We are also not doing trading in this thread. Even though there is buying on dip ideas, this thread surely is not about trading.

Quote from: EarnOnVictor on Today at 12:22:22 PM

At this point, a good investor will know what is going on and wait until there is the same condition favouring the bullish trend before buying the coin again.

A good investor is a trader? I doubt it.

Quote from: EarnOnVictor on Today at 12:22:22 PM

This is wiser than just buying and DCAing without a good reason to back it up.

I doubt it. How many traders beat a strict DCA approach? Probably less than 10%. I doubt that it is as obvious and/or "wise" as you are making it out to be.

Quote from: EarnOnVictor on Today at 12:22:22 PM

This was how I was able to know how to deal rightly with my Bitcoin purchase when a similar condition happened in August when Bitcoin moved higher and barely hit above $28,000.

Just because you have it all figured out does not mean that it is a good practice for normies to be fucking around trying to trade and/or even tough enough to figure out if there is going to be a dip or not and how low it will go and/or how long such dip will last.

Quote from: EarnOnVictor on Today at 12:22:22 PM

It was the same Fibo that played out so well to guide me as 1W Fibo level actually repelled the price of the coin downwards. It's good to make plans this way so that one will not be a blind buyer, and once you buy at a reasonable price, you tend to make more money. So, it's not only about DCAing but DCAing rightly with further guidance like this.

Another thing.. you have ONLY been registered on the forum since June 2022.. so it could be possible that you might have been able to beat a strict DCA approach and various other ways of accumulating BTC that might also involve Lump sump investing and buying on dips.. but how about the traders who have been around for 10 years? DCA and strict methods of ongoing BTC accumulation have done pretty well in the past 10 years or so.. How many traders are able to beat a somewhat strict and persistent DCA approach over the past 10 years?

Let's look at $100 invested over the past 10 years would have resulted in right around $52.6k invested and nearly 54 BTC (an average of a little less than $1k per BTC). Do you know actual widely applicable ways that a trading strategy would have had beat those kinds of returns? Yeah, sure you might have anecdotal stories, but is there a clear practice that would have had beaten a strict DCA approach?