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Re: Buy the DIP, and HODL!
by
jcojci
on 27/12/2023, 05:57:54 UTC
⭐ Merited by JayJuanGee (1)
Quote from: Publictalk792 on Today at 05:08:49 AM
Quote from: MusaPk on December 26, 2023, 08:19:34 PM

If you are not doing DCA and trying to buy only on Big Dips, then you need to continuously remain in touch with Bitcoin price and try to figure out yourself dips and big dips. The only thing we don't know is that the price we buying is the bottom or just the start of dip. These are things you have to keep in mind if you are not doing DCA.
If you are not in DCA and have huge cash then buying at one price is also a good option provided you are willing to HODL for a longer duration. Lump sum investment becomes more profitable if you correctly caught the big dips. But again there are trade-offs, in Nov 2018 price of Bitcoin was around 5000$ while in Nov 2021 price of Bitcoin was around 65000$. If you have your Lump sum investment at 5000$ and you are willing to HODL for 4 to 5 years then results will be very much positive.
Yes you are right this is really difficult to understand that this is the dip or the start of dip but if we are using DCA method so you will not think about it this is the dip or the top. Just buy and hold.
I had felt how difficult it is to find big Dips when I was still learning to trade (I am still learning now). I made many mistakes in buying large Dips and it was tiring because I had to monitor its movements every day and hour as if what I bought was not enough.

I often encounter prices that I thought were big Dips, which were really big Dips, but it turns out they weren't big Dips, and there were still big Dips next, which turned out to be the lowest price.

However, knowing about DCA made me feel comfortable and not too fixated on price movements. I just need to pay attention to when it's time for me to buy bitcoin. That's why I also suggest the DCA method to my offline friends who want to invest in bitcoin.

Quote from: MusaPk on December 26, 2023, 08:19:34 PM
JayJuanGee is our ChatGPT of Bitcointalk.org  Smiley
Exactly 💯 💯...I have a great conversation with him. And I saw that he explain every Singal point briefly and also correct everyone where he saw that he/s is wrong. I learned much from him and will learn more in future. I really thank him. Keep it up sir.
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JJG teaches many people and explains it well. Yes, we are learning much from him and I thank him because of his explanation.