Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
MCUKing
on 20/10/2023, 02:07:21 UTC
⭐ Merited by fillippone (1)
You had me all the way, until I got to your last sentence.... and selling is not a necessary basic technique.. especially for beginners and maybe even folks who have been in bitcoin for less than 2 full cycles.

Hmm, there's a point that is mostly overlooked by the newbies / beginners while accumulating Bitcoins, after doing basic research when they prepare their DCA plan and start accumulating after spending a portion of time in the market they realize the profit booking and re-entering (Buying) the market on a particular price range, most likely they can get trapped by the market whales and such action leads in capitulation, I had suffered it on my initial time.

This is a very wrong mindset to have when you want to invest in bitcoin. No one can predict the market structure, so it’s not advisable to keep hoping for a particular price before you can start your investment in bitcoin. While waiting for that price, you might have missed the opportunity to buy at the lowest price you’ll get it. This was why the DCA method was introduced and it has been a good way to accumulate a lot of bitcoin for investors in the market. If you check this strategy, it works for all class of people and not limitless to people that can use it. So, instead of waiting for the DIP, take the first step and start your investment now.

I think everyone considers the fact that the market structure can't be predicted but still, we can speculate some price range using the On-chain activity & market sentiments with that being said as I've said be a multiple strategy adopter if you can understand the market, You're already doing DCA and you've already targeted your goal and timeline of accumulation. Now as a smarter one prepare some backup as well, if you're doing DCA with X amount at least a small % of additional funds in stable currency to make entries in the Volatile dumping market. No one is recommending anything here we just discussing all possible ways.

DCA fits perfectly for everyone but now from start to end you don't need to just be dependent on the DCA only, customize your strategy of accumulation with your market understandings and experiences in the market like Hybrid DCA.