Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Justbillywitt
on 12/01/2024, 04:04:10 UTC
Bitcoin is a long term high yielding crop. The crop that takes a long time to produce is also very profitable. If you had bought $550 worth of bitcoins in 2015-2016, $550 would have grown about 15-16 times. One piece of advice I have for everyone, which I'm very keen to implement myself, is to say you have $20 and invest it in Bitcoins, and then invest $20 in Bitcoins, so at one time you have $20+$20. = $40 will multiply.From there you keep a portion of the profit for yourself and reinvest it with Bitcoin. At some point that $40 of yours will turn into almost $400. Thus $400 to $4000 then $4000 will influence you towards success.
If there is any mistake between the words, please correct it.
Now that btc has gone up even more and the price is currently over $40k so here too sometimes it will always be a problem for some people who are in DCA because they will think that this is too high to buy and not infrequently stop their DCA activities for a longer time until the price drops a lot.
When buying through DCA, you do that at different price of level, both price increase and price decrease. No price of BTC is too high for investors who are buying through DCA. When you say that now price is over $40k and it's too high and you will wait for price to drop, do you know how long it will take for this happen or if it will drop to your range of expectation? Those who are waiting for the price of Bitcoin to drop below $40k are still waiting and no one knows how long they will keep waiting. It might take them forever or it might not, who knows? In summary no price is too high for DCA method, you just keep buying at different prices.