Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Miles2006
on 04/03/2024, 16:52:36 UTC
Now if your goal is to accumulate BTC and you feel that you have not accumulated enough BTC, yet, then you probably should not be employing any kind of tools to sell BTC with expectations of being able to buy back, since it seems that you need to first get to a certain high enough level of BTC so that you generally have the sense that you have accumulated enough BTC to be able to feel comfortable shaving some BTC off along the way as the BTC price likely goes up with the passage of time.  I hardly would consider 0.04  BTC to be even close to enough BTC to start such a selling on the way up technique since you are likely still accumulating BTC.. so you would be selling with one hand and buying with the other, yet at the same time, I am not opposed to those who might continue to buy BTC with a DCA method and then try to supplement with some kind of raking strategy, even though it seems a bit contradictory and you may well end up either confusing yourself and/or realizing that instead of buying and selling, maybe you should just focus on buying until you have enough (or more than enough) first before prematurely fucking around with selling.
you know, if not  for constantly going through the thread that constantly reshapes my mentality and thought process on how much BTC is enough before ever thinking of selling, 0.04BTC which is around $2.5k looked like a big  deal for me cause my current weekly DCA accumulation amount is at $40 and I haven't done all that long for my ten year projection and the urge to sell part during this bullish period had once come in.

I guess the best thing to do is to remove any thought of selling our holding  out of our mind untill we reach our set out goal during which we can consider using the taking strategy which I feel if followed properly will keep us in good profit but the only issue is that after selling part of your holding holding when the market is bullish, chances are that Bitcoin price might not necessarily go bearish to a price you will be comfortable to buy within a short period of time which like you've pointed out will almost look as though you're gambling with your holding.
I like the explanation, and it is not a compulsory thing to do, if you don't understand how to go about it, so that you don't end up messing around with your bitcoin by selling it in a way that it will affect your bitcoin hodling compounding profit. I am still in my accumulation stage, and I will like to continue with using DCA strategy, and any other additional method of accumulation to enable me focus on my bitcoin target, because I think that I don't want to sell any yet using that method explained by JJG.

It is our choice to use whatever way that we think will work for us based on our own cash inflow.
Firstly, I cannot advice anyone to take his/her profit at an early stage when investing, making bitcoin investment sound as gambling and it can be misleading for newbies, you will feel like you're smart enough taking profit but if lacking the strategy to balance back then it'll be difficult to handle. I will go with the idea of buying until he/ she has reached a balanced level. Secondly this strategy is not so perfect for investors who just started and still acquiring the knowledge about bitcoin, knowing fully well bitcoin knowledge is broad and no one can actually learn everything within a week likewise this strategy, most investors who practice such strategy are experienced investors so I will not stick with the idea of taking profit when still accumulating.