Now just to wait for a dip to hodl, and I right?
Feels like we've been starved of dips since March 2023, when price corrected from $25K to $20K, which was an incredibly tasty dip. Since then, we've had $30K to $25K that barely reached -20%.
All I can say is that I'm looking forward to more dip buying in the near future. Hopefully 2024 will be better dip buying experience than 2023 was!
The market at this point require some level of flexibility to be able to navigate through because the uncertainty are just too much. Take for instance, many people jumped into the market with the hope that the ETF approval will make price to skyrocket. Unfortunately, those who did this are probably in tears because some of them will sell and take their losses while some will still be holding hoping things will turn around.
Because of things such as we have seen in the market lately, using the DCA method is surely the best practice because those using it might not be caught up in the funny market behavior. They would have already entered some of their positions when the price was still very low and will not panic when the ETF minor pump and huge dump happened.
Anyone still doubting the effectiveness of the DCA method is not helping himself. Buying the dip is good provided the intention is to hold for long. Some people who bought around $45,800 thinking that was the dip are already seeing price go lower and continue to go lower. That means what seemed like the dip is not actually the dip.