Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
adultcrypto
on 06/02/2024, 15:08:00 UTC
⭐ Merited by JayJuanGee (1)
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.
Actually, am not ok with the statement because going into investment without having adequate knowledge  is like starting a journey without a direction and can also be liking to  someone that intend to start a business without   business ideas. As a new investor I think  having adequate and the right  knowledge  before you invest is a wise approach.
Waiting to go to the market and learn everything yourself is like a woman that is trying to go to the market to buy different items  without making list of things to buy in order of their importance and check  if her  money  is enough to buy everything in the list which may lead to mistake and not being organized. An investor that has the adequate knowledge before investing will be more organized and confidence compared to someone without adequate knowledge.
As a newbie in the forum, I understand when you emphasis the importance of knowledge in anything. I equally like the fact that you use the term "adequate knowledge" and I will attempt to explain what is adequate knowledge needed for investment in Bitcoin. To be able to invest in Bitcoin, you simply need to first believe that Bitcoin is worth investing on and as soon as that is done, the next thing that will come to mind is how to buy it, where to buy it, how to store and protect the assets you have acquired and that is all there is to it to get started. As soon as you can figure out the answers to these questions, you can start your purchase already, you don't need the sophisticated and technical knowledge that many people are focusing on thinking that is how to be perfect in Bitcoin.

Most of us who are investing in Bitcoin are still learning more about Bitcoin everyday because Bitcoin knowledge is wide and still leaves room for more contribution. For instance, not until recently, we never knew that it would be possible to launch Ordinals on the Bitcoin Network. This was done and it impacted heavily on the Network leading to congestion and high rise in transaction fees.

Like I said, you should just focus on getting the basic knowledge I explained and then start building your Bitcoin portfolio. In addition, you should also endeavor to develop the discipline to follow your Bitcoin accumulation strategy, it could be DCA method, buying the dips or a combination of both, you have to try and follow it well not forgetting the need to also keep some money as reserve to enable you not to sell when you are still at the accumulation stage.