Quote from: Mayor of ogba on October 22, 2023, 08:59:54 PM

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We are once again at 30k barrier and to my knowledge this is not the first time in this year Bitcoin make it to 30k. The question is those who have bought Bitcoin at DIP, what there strategy should be now (as Bitcoin is slightly bullish)?

Yes, this is not the first time this year that Bitcoin has risen to $30k. This recent rise in Bitcoin should not make anyone mess up his DCA strategy of accumulating Bitcoin by buying the entire amount of Bitcoin he wants to accumulate at once because he thinks the price of Bitcoin will not reduce before his DCA strategy is complete. Keep up with your DCA strategy in accumulating Bitcoin because you can see the sign that Bitcoin is a solid asset and there is still enough time before the bull market kickstarts.

It is difficult to really have any kind of level of confidence regarding knowing that any of us have time to accumulate more BTC at prices that we had been able to accumulate bitcoin in the past 18 months or so... and people will sometimes start to get nervous when the BTC price is gravitating upwardly, which tends to show that those of us who had been continuing to buy and not delaying are likely in a much better place right now as compared to those who had been waiting too much upon dips and/or failing to act (meaning buy).

Sometimes bitcoin goes into a kind of punishing mode and just continues to go up without really having any meaningful dips, so that when we are thinking about this thread, we might be thinking to buy on the dip, but even that can sometimes be difficult if the BTC price ends up continuing to go up without any meaningful dips.

Of course there is potential resistance in the $31-$32k area, and personally I did not really consider that area to be too significant, even though the BTC price had gotten stuck there, and whether there is any resistance at various price points between $35k and $50k is yet to be seen, too.

Quote from: Sayeds56 on Today at 07:43:11 AM

Quote from: JayJuanGee on October 22, 2023, 04:22:58 AM

Of course each of us should be attempting to balance both our assets (surely including bitcoin) that we accumulate while we are living with how we might either pass them onto others if we die prematurely or alternatively how to potentially figure out how to build our wealth while we are living and to put some systems into place in order that we are able to get advantages from our wealth while still living

...and surely people are going to employ various different systems and balance their priorities in different kinds of ways, and surely some people run out of their wealth too soon and others maybe do not end up enjoying the wealth while living - whether they end up passing such wealth down might be another potential complication - even while dying with your bitcoins would not necessarily be the end of the world for the bitcoin community generally ends up profiting from lost bitcoins.. kind of the opposite dynamics of the fiat system in which monetary supply tends to devolve into various statuses of degeneracy that robs from people who hold their value in it.

Indeed, assets management including Bitcoin is a complex and personnel matter, and different people approach it differently based on their financial circumstances, goals and values. While it is essential to have a well defined plan for wealth accumulation to achieve financial stability, but it is equally important to enjoy our life with whatever resources we posses. When it comes to investment in Bitcoin, while big institutions like BlackRock, Micro strategy and many mores, showing great interest in Bitcoin ETFs, which is a big deal for Bitcoin's future. Therefore, it is a good idea for us to accumulate Bitcoins as much as we can without sacrificing our essential expenses. There is a concern that once these institutions obtain regulatory approvals, the current price of Bitcoin may become a distant memory in our life time.

Whether we suggest that the rich people (institutions) are buying all of the bitcoin or if we might have some other reason(s) about why the BTC price is going up, historically, there have been several instances in which the BTC price moved upwardly out of an historical range that it had been, but then thereafter, never did return to that previous price range, and people who had been delaying in their buying of BTC, or waiting for lower BTC prices prior to buying, ended up looking foolish in retrospect. So yeah, we have had right around 18 months to be buying BTC below $35k... so how much longer is it going to last? We cannot be sure. Are there going to be further dips below $30k? We cannot be sure.

Quote from: Ruttoshi on Today at 11:07:13 AM

Quote from: Mayor of ogba on October 22, 2023, 08:59:54 PM

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We are once again at 30k barrier and to my knowledge this is not the first time in this year Bitcoin make it to 30k. The question is those who have bought Bitcoin at DIP, what there strategy should be now (as Bitcoin is slightly bullish)?

Yes, this is not the first time this year that Bitcoin has risen to $30k. This recent rise in Bitcoin should not make anyone mess up his DCA strategy of accumulating Bitcoin by buying the entire amount of Bitcoin he wants to accumulate at once because he thinks the price of Bitcoin will not reduce before his DCA strategy is complete. Keep up with your DCA strategy in accumulating Bitcoin because you can see the sign that Bitcoin is a solid asset and there is still enough time before the bull market kickstarts.

I am not after the price of bitcoin currently and I don't care what price bitcoin is now. This is because I am new into bitcoin investement, which I jusr started this year, so I intend to hodli for long. I would only continue accumulate with my regular DCA method, even in the next bell run, I don't plan of selling since I want to understand how bitcoin value increases with timeline.

Since by the next bull run, my investment portfolio will still be very small compared to my target. I want to have an insight of bitcoin price after the bull run, when I still have my bitcoin and continue accumulating till 2029, that will be the next bull after 2025 bull run to see how the difference in price from this next bull run with that of 2029, so that I can talk by experience, and not talking due to small profits and a short timeline. This is why when I see people that starts talking of profit now, I don't listen to them and I don't even check the price of bitcoin. It is only when I am buying that I do see the price. I am happy to have known about the DCA strategy and also applying it.

You can ONLY invest as much as your budget will allow.. so whether are attempting to invest in a kind of aggressive way, or you are being more whimpy and waiting to see how bitcoin performs is surely up to you, and it seems to me that historically those who had chosen to be a bit more aggressive in their earlier years (without going over board) had tended to feel better about the performance that they witnessed later on, so maybe in 4-8 year, you are not going to be able to buy bitcoin (or satoshis) for even close to the same amount that you can currently buy them.. but yeah, if you do not have very much extra money, then there is ONLY so much that you can do in terms of aggressiveness without ending up putting yourself into a dangerous place (financially and psychologically).

Quote from: GigaBit on Today at 01:50:28 PM

Quote from: MusaPk on October 22, 2023, 07:49:40 AM

We are once again at 30k barrier and to my knowledge this is not the first time in this year Bitcoin make it to 30k. The question is those who have bought Bitcoin at DIP, what there strategy should be now (as Bitcoin is slightly bullish)?

Currently there is a lot of discussion about the bull market and ETF. I personally don't want to waste time on whether that bull market or ETF is approved or not. After gathering a little knowledge about Bitcoin and its long-term investment benefits, I no longer have to worry about whether the price of Bitcoin will go up or down. My focus now is on how much I am able to grow my portfolio. My income is very less than many but I don't worry because I follow DCA. I know I'm behind them but I don't want to be left behind in the long run. Those who dream big about bitcoin must consider its long-term investment.

Don't worry about being behind people who started before you and people who have more financial resources than you. It is likely inevitable that these conditions are going to exist.

There are plenty of people whom you are ahead of who are of similar economic status as you and who are failing/refusing to recognize bitcoin and/or invest, and there are likely plenty of people who are of much more affluent economic status than you , but your investing into bitcoin is likely going to end up surpassing a lot of them.. sure it is not guaranteed, but it still likely is a good place to be considering to put a decent amount of your discretionary income.