So here we are today presented with the theme of the thread which I was holding out
for, a perfect "buy the dip" time. The market is $35500 down from ~$37200. This is
what I have been waiting for.
And if it dips further I'll buy again at a further discount. Some people will say there isnt
a whole pile of difference between the two in $1000 but if accumulation is the goal and DCA
practiced all the little savings add up to something worthwhile.
$1.7k drop in price is not what I consider a major dip for a volatile asset like Bitcoin, however, any price below the ATH is still a good entry point for me. The problem with buying the dip is that at the point we are now, it is not clear if price will drop further or continue to uptrend that it has been on for weeks now. For those who buy the dip and hope to profit on the short term, they might enter and price drop further thereby putting them in a situation of anxiety and worry.
To be clear, even though I don't consider this recent drop as the dip, I still consider the price a good entry point because, to me, buying anywhere below the ATH is still perfect entry for me. I think my view also agree with the caption of the thread because every point at this moment is a dip, hence we can buy as much as we can at this moment.
I actually have been using the DCA method for some months now and so far, it has been a wonderful journey with my portfolio in net profit because majority of my holdings were bought below $30k.