Quote from: Mayor of ogba on Today at 10:57:02 AM

We have learned a lot of strategies to use in accumulating bitcoin in this Buy the Dip and Hodl thread. This thread has helped me understand that there is no need to time the bitcoin dip before I can accumulate my bitcoin, which makes it very hard to time the actual bitcoin dip. With the knowledge shared on this thread, I can accumulate my bitcoin with the DCA strategy at regular intervals and still buy the bitcoin dip if I wish to do that. What I just need to do is divide my funds into two equal parts and use one part to accumulate bitcoin with the DCA strategy and use the second part to accumulate bitcoin when there is a dip in the bitcoin price.

Buying the dip is not the same as day trading where you are expected to get a perfect entry point, set stop loss and take profit within a short interval of time. Buying the dip in our case here is buying when price retraces a little or even deeper with the intention of holding it for long. You don't have to be perfect with the entries neither are you expected to be anxious to see profits immediately. Buying at dip is simply buying when the price gets lower after it has been moving rapidly upward.

Buying the dip has its advantages just like the DCA method and most preferred by those who may not have the discipline to following regularly buying methods like DCA. Other people who will also chose buying the dip are those who may not have the chance to be checking the market regularly, instead they could just set limit orders at lower prices and continue their other activities.

As you can see, buying the dip is not really a bad strategy provided the intentions is to buy and hold for long and not for quick profits like trading. Any method of buying bitcoin that aims long term and also eliminates other factor that can truncate the buying process is fine and acceptable by me because that is the main objective.