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.
Of course $1.7k fall of a Bitcoin price is never to be considered as a bearish market because irrespective of how potential Bitcoin is it can never move straight without the ranging or consolidating for a while on particular zone so perhaps most people feel if the Bitcoin price moves uptrend and later drops down a bit and consolidating means that Bitcoin is dipping, it doesn't work that way.
But however the price movement of Bitcoin is yet unknown because we don't know if the next moves is uptrend or downtrend but what is important right now is being able to be part of Bitcoin now is good because even if it drops it will not affect your investment because it must surely comes up and if it moves uptrend you are also at an advantage so let's keep accumulating.