Another DIP buying opportunity might be coming! I'm not sure how low, or if this correction continues to fall under $40,000, but buying some Bitcoin with any sort of discount should definitely be "greeted" with open arms. Don't miss the opportunity!
"I'm not sure how low" , this is the problem with buying the dip. The confusion, the anxiety, the FOMO and all manner of unrest are what make me so uncomfortable with buying the dips. You could buy $42,000 and price drop further to $40,000 and further to $38,000 and even more. In this case, which is the real dip and when will it stop going down? This seem complicated for those of us trying to have a hang of this.
Buying at the dip is a good way to buy bitcoin in discount and you will get more profit, the moment bitcoin price surges high. This is why an investor needs to make a proper plan and prepare himself to buy at the dip and even when the price is up. This is done by placing a buy order for you to follow when bitcoin price goes up or down. For instance, you can say that if bitcoin price is $41k, you buy $150 and if it falls to $40k-$39k, you buy $200 worth of bitcoin. In this way you can also reduce your buy order when the price is increasing as so on. However everybody can sort out how to go about this based on their own situation.
Buying at the dip can also be done by saving any extra money that you have unexpectedly, like bonuses from work or traveling allowance e.t.c, so that when the dip comes, you can take advantage of it. Another way is that if you are DCAing $100 weekly, you can cut it to $70, and save $30 for buying at the dip. As a newbie in your early stage of accumulation, it is better to continue with DCA, and as time goes on when you have the strong believe on bitcoin, you can set a strategy that will enable to have the opportunity to buy at the dip, lump sum along side with your regular weekly or monthly DCA.