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!
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.
Indeed, I've always believed in DCA up to and over the halving, it usually get's a better price than averaging into the bear market from ATH. This then covers you in case there is consolidation between say $35K and $45K for the next 6 months, as opposed to a dip to $25K to $30K. Either way, 6 months prior to and after the havling are usually great times for dollar cost averaging.
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!
I'm surprised, expecting a DIP in this 2024, I do no think so. The market is currently recovering and I don't think we should expect anymore DIP. The DIP which we have been anticipating is now at this price for those who earlier missed buy at the $15k+, $20k+ and $30k+ as long we are still below the last ATH, I consider it a good DIP for many investors to come in.
Most people also thought this in 2020 (myself included), prior to a 60% correction. 2016 was very similar, people thought the bull market had already begun and the price was "UP ONLY", but instead there was a -40% correction and 6 months of consolidation before moving higher. NEVER be surprised to see such an aggressive dip when not in a "full-blown" bull market. Until $48.5K is reclaimed and passed on long-term time-frames, this move (from $15.5K to $49K) will forever be a dead cat bounce, just like in 2019 as well as 2016, as it's the expected retracement level from $69K to $15.5K (61.8%). The main difference is, after this expected retracement level, Bitcoin has never fallen lower than it's low the year before, even if it came close in 2020 due to a black swan event, so it's technically a dead cat bounce without bearish continuation basically. Even if full-blown bull markets, when price has reached a new ATH there are still dips of usually up to -35%, but otherwise more recently (2021) up to -50% now apparently.