Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Cryptomultiplier
on 10/01/2024, 17:10:04 UTC
At every price of bitcoin, it is an opportunity to buy more, some many investors misunderstand the concept of bitcoin, Bitcoin is an investment that's been controlled by the influx of people in the market, so at any price you find it, buy as much as you can, don't wait until the price comes to the level you want, this will deprive you the opportunity to get involved quickly, if we tell people that bitcoin that was around 38-$40$ in the last few months will be $46k as of today they won't believe it, so am of the opinion that any price of Bitcoin is a good avenue to continue buying because no one knows what's fishy at the moment, we keep doing the needful slow and steady to be in the forefront.
Inasmuch as we want to encourage people to invest in Bitcoin given the opportunities and prospect, we must not ignore the requirements of proper planning. Before even getting started, you must have plans on how to go about your asset.

The basic decisions that must be made if the investment must be sustainable covers the method of buying, if it will be buying at every dip or buying using the DCA method. You cannot just be buying haphazardly without plans of targets. If you do this, your finances might not be well planned to match your investment targets with your personal needs.

Another factor to consider too is if the investment is for long term (which we encourage here) or for short term. If for long term, then planning still comes in as that is the only way to hold the investment without yielding to the urge to sell as a result of personal needs. Planning takes care of all these.
Now, more potential investors are in panic mode with the fear of what might happen preceding the ETF approval and halving. 
A good plan is what's right, but one truth is that profit taking is not for those who will start an investment plan from today. Unless, it is to trade as a merchant during the period of the halving, any newbie trader with the intent of starting off right now is mostly going to run into failure.

Despite the dip, to buy and to HoDL is still the best advice for newbie traders and investors with lower funds to invest.