Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Mayor of ogba
on 12/01/2024, 10:16:47 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.
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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
One thing we must know about the DCA strategy is that it doesn't mean we are going to buy Bitcoin at a low price all the time. Since we have a fixed amount to invest in Bitcoin at regular intervals it does not matter whether the price of Bitcoin is high or low. As a result, the investor will be buying less of Bitcoin as the price is relatively high, and buy more of Bitcoin as the price goes lower. For instance, an investor can decide to invest in Bitcoin with the DCA strategy. His first buy can be 0.0373 BTC, and his second buy 0.0333. The DCA strategy can make investors pay less to accumulate Bitcoin.