Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
MusaPk
on 23/10/2023, 17:26:41 UTC
I would think that if forum members are buying BTC for the long run, they likely are not going to be creating too many changes in their plan merely based on BTC price moves that are only within about 10% of (or less than) the 200-week moving average - which 200 WMA is just around $28,200.  Sure they may also consider their own costs per BTC, and even consider if they want to make plans regarding how much in profits would their bitcoin need to become in order for them to consider starting to shave off some of their BTC or have they even gotten to that kind of higher stage of shaving off some profits when so many newbie members are likely still in their earlier BTC accumulation stages - which might could well mean that they don't really change anything unless they get to more advanced stages that might involve lessening how much BTC they accumulate when the BTC prices are going up.  There should not be any kind of an universal answer... but surely it can take people 1-2 or even more BTC cycles to really get to a place where they believe that they have enough BTC or even more than enough BTC that they can start to shave off some profits or to otherwise change their BTC accumulation strategies in meaningful ways that transitions into more of a maintenance stage.

First rule of bitcoin, you never sell your bitcoin.

I remember I have bitcoin bought under 10k and when bull run started I see them at around 22k. Bitcoin later went up and touched 67k. When I sold my bitcoin I was happy that I have got double profit but later I regret selling all my Bitcoins.
I have learned from my previous mistakes and I do agree that there is no need to get excited after seeing 30k. 30k is the price we have seen so many times this year and we are not sure whether Bitcoin can cross 30k this time.

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.

If you see price of Bitcoin then over the period it has gone up. In other words you are deemed to get success if you are a long term investor. I always say that invest as much as you can easily without putting yourself into too much stress. Also we must be happy the way we are investing, those who have big will definitely invest big. There is no reason to compare yourself with anyone.