Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Ndabagi01
on 09/10/2023, 16:34:45 UTC
Bitcoin is called a risky asset because of its volatile nature and that is why, one needs to invest with only the amount that he can afford to lose, so that if bitcoin price goes below his entry point, he can just ignore the price and keep on hodli. That is why it is advisable not to borrow money to invest in bitcoin so that you don't end up selling when it isn't your will, to avoid loss.

We saw Bitcoin price was stable at 30k USD few weeks back and then there is a dip triggered due to some news. Bitcoin in that DIP went down from 30k to 25k and that's the time where your nerves as a HODLER are tested. Its easy to say to HODL but not many can see there investment going down. That DIP is now over and Bitcoin price is moving up towards 30k again. If you have bought Bitcoin when it was down then surely you are getting some profit at the moment. Accumulating more when Bitcoin is down is more beneficial then when its up.

This is only a simple consensus that if followed on a regular basis, you will have no problems with your bitcoin investment. The power that influences the emotions and thinking of bitcoin investors is extremely powerful and difficult to control.  If you haven't been in that circumstance, you won't understand what it's like to have a grip as your investment begins to fall apart right in front of your eyes. Overcoming all of this is what makes one a better investor; but, in order to reap the rewards of all of this, you must approach the market with an open mind, ready to face market volatility without losing your sense of patience in the market. If you can conquer this, you will be a better HODLER and investment will move smoothly as planned.