Quote from: Frankolala on Today at 04:23:24 PM

Quote from: justinlamode on Today at 03:29:44 AM

Quote from: Wind_FURY on January 18, 2024, 05:25:11 PM

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.

My personal experience has been that if the BTC price has gone up a lot, then I end up accumulating a lot of cash, and I am not saying that would necessarily be the case for someone who is newer to bitcoin because you probably would mostly be accumulating BTC so you might not accumulate as much cash. Yet, if some reason you have been building a reserve in order to buy BTC when the price dips, my experience has been that I have tended to be someone aggressive towards the beginning of the dip (even if I might try to wait for a 10% or more dip before I start buying), but then if the dip continues, I tend to be running out of money because I am buying mostly from my reserves and as the dip keeps happening my reserves become more and more depleted. So at some point, I can see that I will run out of money if the BTC price dips below a certain price, so I end up having to lower the amount of my buys rather than increase them becuase of the running out of money problem and that running out of money problem can exist in a lot of circumstances that are even less than 50% price dips, but even something like June 2022 when the BTC price went below the 200-week moving average, I had already been reestablishing my budget so my buy amounts were already becoming smaller and smaller, and even when we had the later in the year dip from $20k-ish and down to $15,479, sure i bought some BTC, but I still felt that I could not completely exhaust whatever reserves I had at that time, because late 2022 or even early 2023, none of us could really know if that BTC price bottom was in yet or not.. and maybe we did not really start to feel like the bottom was in until much later into 2023, even though there still could have had been questions about the bottom or even how much to prepare ourselves with keeping some reserves in terms of how much the BTC price might still continue to drop, so even if the BTC price might start going back up, we are still likely going to continue to have some reserves that do not end up getting used, which seems to be a good thing, even though it is not putting that money to work.

Quote from: Frankolala on Today at 04:23:24 PM

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.

This is the opportunity to buy bitcoin aggressively, if you have the money but don't overdo it so that it doesn't affect you later when you go and tamper with your emergency funds.

These are all good points regarding potential ways to deal with possible cash shortfalls and uncertainties regarding how far the BTC price will drop and how long such drop is going to last.

Quote from: Franctoshi on Today at 04:27:10 PM

Quote from: Wind_FURY on January 18, 2024, 05:25:11 PM

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!

Buy the DIP, and HODL!

The 40k price level has been tested for several times, and the more often the price kisses or visits a support or resistance level, the weaker the level becomes, so I think we have right now another great opportunity to buy more Bitcoin, So, I have set some market orders way down to $38k should the price continues to dip down because $38k is another important level of support for the Bulls to fight, to try to push the price back up to continue the trend.

What trend? You are talking about some kind of bullshit short-term trend that may or may not exist? I doubt that there is very many questions to doubt the trend that we are already in even if we are currently experiencing a correction that is so far only slightly more than 20%.

The most major trend is that between late 2021 and late 2022 we went from $69k to $15,479, and then from late 2022 to now we have largely been going up (even though we might not have realized that we were going up until around mid-2023 or even not until late 2023 might we started to feel more comfortable that we are most likely in an uptrend that started from late 2022), and so it would be hard to believe that we are stopping from going up, even if we may well have various degrees of correction along the way, and even if we were to go back down to $25k.. seems like a BIG so what? The trend is up, and don't get me wrong, I have my doubts that $25k is likely, even though it is not impossible to happen... but if we are largely longer term BTC holders and even BTC accumulators, we should always be attempting to prepare ourselves (Financially and psychologically) for both directions at the same time, including potential extremes that could end up happening.