Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
teamsherry
on 05/02/2024, 16:03:50 UTC
As a new investor I don't think it requires much knowledge.
(Though the saying goes that knowledge is king)
But once you go to the market, you can learn all kinds of things by yourself.


as someone that is new to the system, the first thing you should know is that you need to Buy the DIP. You might not necessarily understand how the DCA method works but after buying you can now work on best ways to accumulate more holding and that's where using the DCA method comes in.

And like you rightly pointed out, Buying of bitcoin doesn't require a complex knowledge, the most important thing you need to know before buying as a new person is the right time to buy. Once you know the right time to buy, then you've successfully launched yourself into an amazing Bitcoin journey.


IMO I don't think buying the dip should be the first thing a newbie should be learning, cause it does involve him or her having more knowledge about bitcoin to monitor the market and all that, and even apart from knowledge I Don't think he has developed the emotional intelligence incase the market continues to dip after he feels he has bought the right dip, and he ends up being in a state of panic and sells at a lower price than he bought, buying the dip is a good strategy to accumulate bitcoin, but for someone new to the market I think he has to start with something way simpler like the DCA method and if he is interested in dip buys, he can but after he has taken some time to understand the working if the chart and prepared himself in 3-6 months of emergency funds and reserves to back up himself in case the market continues to down trend after he has bought.

And you said we have to find out that right time to buy, I don't really think there is a right time to buy, cause we can predict the final dip, that's why we have to know that we should not invest all our money at a particular dip incase the market continues to dip, we can continue to buy, maybe until we are satisfied with the amount we have invested at that time.

The best way a newbie should start is buy using DCA method it helps reduce the tension from market fluctuations and volatility. Its also cost effective since with dip buys you might want to invest huge amounts to better take advantage of the dips or even lump sums, with DCA he can use a smaller amount to start investing first.