Quote from: Wiwo on October 24, 2023, 09:31:35 PM

Quote from: JayJuanGee on October 24, 2023, 01:11:29 PM

I cannot exactly tell you at what point that you feel that you need to get with your bitcoin holdings (and surely what else that you have) to suggest that cutting back might be a good idea. and surely we always should have some money (dry powder) available for buying on dips.. so will the BTC price dip or not. and is it worth it to make those kinds of adjustments at this stage.. BTC accumulators are going to decide differently in their attempts to balance these kinds of matters.. and some will end up being more correct than others, but are the correct for a reason or did they just get lucky?

I agree with you on this so because having such laying around money to buy Bitcoin with will give us the best chances to take advantage of Bitcoin's short-term price movements in uptrend directions just like in the current Bitcoin market movement behaviour, taking chances to grab some few Bitcoin when the market present us with the discount price is one of the best DCA mechanisms that helped many Bitcoin investors to be able to lay they hands on some Bitcoin within a short period if they do follow the right principles by setting aside a steady cash flow that put them in the position to always take advantage of the Bitcoin market at all time.

The current bitcoin price outcome is not something that is not familiar to us, and in fact, most of the bitcoin investors who have spent at least a year in the market would already have experienced this and learned how to approach the current bitcoin market value to take the right advantages using their previous plans and engagements.

Ultimately the thrust of Ruttoshi's question (or the point that he is making) does seem difficult to answer because he points out that he has a kind of plan to cut back on some of his DCA amount based on the BTC price going up so much in such a short period of time (which may or may not end up being a great idea because we cannot necessarily have high levels of confidence that the BTC price is going to correct back down from here). And sometimes if someone fairly new to bitcoin is getting into bitcoin, they might well just be better off to just continue buying and trying NOT to predict whether the price is going to go up or down..
and they may well just be better off continuing to buy more BTC, even if they have to pay more for it now as compared to the last 18 months of relatively discounted prices.

Maybe the correct answer has to do when they started buying BTC and how much they had been buying... if someone comes into bitcoin and had been buying quite aggressively over the last 18 months maybe they could rest on their laurels (how much they bought already), but Ruttoshi seemed to have been saying that he just started buying at $25k, which might even assume that he has not really been buying for much longer than 6 months.. so yeah, it seems to be unclear if he would have had even been able to accumulate even close to enough BTC in such a short period of time through simple DCA based on cashflow, but if he had some circumstances in which he had reallocated some funds from some other decently sized investment portfolio, then maybe he would be in a better position to cut back some of his DCA amounts.. and yet ultimately there is no real easy answer without really knowing more of the underlying individual factors.

Quote from: Natalim on October 24, 2023, 09:56:38 PM

Quote from: ginsan on October 24, 2023, 09:16:24 PM

Quote from: Roseline492 on October 24, 2023, 08:37:59 PM

Quote from: Odohu on October 24, 2023, 01:40:43 PM

That is Bitcoin for you... always pulling surprises. The only people in panic mode are short term traders who would have sold since.

This is one of things I like about Bitcoin it can surprise you overnight just like what the price did this week, this is actually the reason why it is advised to keep accumulating for long time holding instead of chasing the Bitcoin price, so just like you said those short holders who buys and sell immediately after seeing a little move on Bitcoin price, I believe they will seriously be regretting why didn't hold.

So perhaps they have learned there lesson about Bitcoin price movement and is not actually late to change your strategy by holding instead of chasing the price.

The rise is always a pretty sight if you have Bitcoin in your portfolio but if you don't have BTC in your portfolio then the rise that occurs will not mean anything to you. Previously we have seen the price of BTC drop quite significantly where the price of btc touched $15k. And what you saw today where bitcoin crossed $30k and reached $35k today.

So in this thread we just buy and hold which is what we have been doing from before. DCA was our choice and we also thank JJG because he is always our mentor in this forum where he always provides sensible advice in discussions in this thread. We will continue to hold and buy with the DCA strategy.

But I was sure that nobody buys crypto without having Bitcoin first

That is a pretty BIG assumption. There are all kinds of ways that individuals pass through their journey to get to bitcoin, and a decent number of them either have not arrived or do not arrive because they end up getting too distracted and/or sucked into shitcoins.

Quote from: Natalim on October 24, 2023, 09:56:38 PM

because if that is so, then I would say it is a big mistake. While seeing the current situation of Bitcoin, we can also think that bull season is coming soon and before it comes, we must be sure that we are already filling our bags with Bitcoin and some potential altcoins.

I doubt that it is necessary to buy shitcoins.. and probably not a good idea.. and even if it might be an o.k. idea, we are in a bitcoin thread, so we are generally not talking about shitcoins, except maybe to bash them, here and there along the way.

Quote from: Natalim on October 24, 2023, 09:56:38 PM

Those people knowns how to hold and wait for the bull season got their rewards which is why we should practice doing this otherwise, regrets it.

As long as we are talking about bitcoin rather than shitcoins, I agree with you.