Obviously many seems to be battling with the potential difference between investing and trading of which some person's are still mistaking trading to be investing. The following gives certain comparison as to this regards.
Investing
1) investing is a long term and has a lower risk
2)investing requires fundamental knowledge
3)investing gives investors more time to make decisions that will yeild profit in the long run
4) investing means you are buying to hodl for a period of expecting a compounded value over time.
Trading
1)Trading is for a short term and has a higher risk
2) trading requires technically knowledge
3) in trading traders hurried in to make hasty and costly decisions based on market trends
4) trading means you are buying to sell for profit maximization within the shortest time frame.
Investment is been prioritize because it is more conservative and has lesser risk and that is the core value of the thread but as an individual the choice is yours whether to invest or trade, What is shared here advice.
From the point of the title of course buy on dips and hold.
In this case, of course there are various meanings in interpreting it. But the main point that I think is best is to continue making purchases and holding them for the long term. I wasn't too keen on trading as my biggest mistake was selling Btc holdings in the past. And that was the biggest mistake I ever made, so I am determined to correct past mistakes by re-accumulating Bitcoin which I prioritize for the long term and now I am in my second year of investing.
They can have whatever they want because the money is theirs and they decide it. Regardless the best advice is to buy on the dips and hold.
You have made mistakes and you are willing to make corrections do history wont repeat again. Yes, making mistakes is no inevitable when it comes to Bitcoin investment but repeating it is stupidity. Accumulating bitcoin is quite the most acceptable advise anyone could give to a freind or family members because of the economic crisis. So i get angry when i see investors pulling out profit from their investment because of ceremonial purpose. Holding long is something that will elevate someone from One financial level to another if patience is made priority.
Most at times people that make mistakes fail to notice their mistakes, especially in bitcoin investment and I think the reason would be that they fail to have a record that would help them track themselves, it's good for us as investors especially early investors like me to have a record of every bit of amount they have invested and every case senerio they are working towards, so if they make mistakes they could easily fall back to them and make adjustments. A friend of mine said if you can't retrace your steps then you can't direct someone else, In a similar vein, without documentation for your investment, it's impossible to identify where things are going wrong.
From my perspective, you seem to be getting the wrong lesson from the information about bitcoin's to-date exponential price history, because you cannot expect any additional doublings in bitcoin's price in the coming 4-10 years or more, but you can still attempt to prepare yourself by understanding that you could lose everything that you invest, but there are also upside scenarios that may or may not end up playing out in the coming 4-10 years or more.. and I am not sure what your investment timeline might be, 10? 20? 30? years, perhaps?.. and if you are not in bitcoin and if it does happen to end up going up in price, then by not being in, then you are not going to benefit as much from the upside scenarios that might end up playing out (and might not end up playing out).
Sure, bitcoin continues to be amongst the best of investments currently available (if not the best investment currently available with likely increasingly strong investment theses based on a variety of factors including ongoing and continued building of its 7 network effects, as outlined by Trace Mayer, yet even with so much ongoingly good news about bitcoin, there are still no guarantees that its price is going up rather than sideways or down, even if you keep investing into it for 4-10 years or longer..
I think it's good I invest what I am more prepared to lose, I would have said since uts investment it's kind of a 50/50 ratio of giving profits or crashing, so I have prepared myself by choosing to diversify in other areas like business which I told you earlier about and also real estate seems to be a good idea that has been coming to my head, but I just wanted to focus on accumulating bitcoin to a point then I begin my diversification after my emergency fund is set. I do have all this in mind, we can't always use bitcoin past performance to lay claims to what might happen or can happen in the future so instead we use this facts to guide our steps also preparing if things go south which is a possibility.
Taking records into something that important things you consider is important so that you can
Potentially correct all of things when almost same scenario will came and you can convert it to something positive that can benefit you in the long run. I know how hard to take good decision especially if you are not sure in certain situation that's the reason its important for us to have knowledge when dealing something especially on our investment with bitcoin. But all of this will be applicable if you are trading bitcoin but if you are just there to hold or do DCA strat I guess there's no need to get stress since what you need to do is to buy and have extra funds available since seeing those stats is good for people doing daily trades. But its really better to learn all of this so that we will be knowledgeable on what counter action we need to do if some scenario that we don't expect to come happens.