Re: Buy the DIP, and HODL!

You seem to have a misunderstanding of the DCA strategy in total.

The DCA strategy is not for poor people or for those with little income, it has nothing to do with how much you are earning the DCA strategy is simply dividing your capital into parts and investing or buying at intervals and this is done for some reason which is to.reduce the impact of volatility on yoir portfolio, you know that bitcoin is still a very volatile asset and to avoid situations where by you buy at a price and then the price dips and you portfolio would be at lose, but with the DCA method you get to buy at every intervals and price points so those fluctuations in price would not affect you, and why it is recommended here is beach it sis more beginners friendly and you don't need much knowledge other than to know how to buy and hold to get started with the DCA unlike the buying the dip strategy that involves some level of timing the market and more knowledge to be very successful at it. So yeah there is no barrier in using the DCA strategy.

So if you think you need to be rich before you invest in bitcoin then am afraid you are delaying your HODLing journey.

Yes, people don't need to be rich before they can start investing in bitcoin, but they need a good income source that can cover their expenses so they can accumulate bitcoin without finding it hard to solve their unforeseen financial problems. This will allow them to hold their bitcoin for the expected year they want to sell it.

While going through you all comments on this thread, I had a thought may be one of a genius not to hype myself about it but what do you all think about Incorporating both the Dip and hold with the DCA strategies.

To further elaborate further, what if you only apply the DCA strategy when it’s a bear market that way you’re constantly buying BITCOIN at a low rate you can simply set a stop price in your head of when to stop buying more BITCOIN and simply hold till it’s next bear market, This would aid you in accumulating a lot more through this what do you guys think is it all craziness Huh

This is the worst of all strategy to use DCA only during bear market, and after the dip is over, you stop and wait for another circle to see another bear market. Poor investment idea on bitcoin compounding profit power, and poor bitcoin accumulation strategy. As a newbie like you who just want to start his/her bitcoin journey, all you need to do is to figure out the amount of money that you can set aside to buy bitcoin that will not affect your monthly needs. Maybe 10% shoukd be cool, so that you can also have your emergency funds ready, so that whatever emergency that arises would not be a problem to you on your continuous bitcoin accumulation.

After that, the next is to use Dollar Cost Average DCA, to enable you use that 10% of your income to buy bitcoin regularly either monthly or weekly, so that your bitcoin portfolio will keep on growing gradually as you keep on buying. You should understand that people that have no bitcoin or little bitcoin in their portfolio don't need to wait for a week without buying since they focus is to build your bitcoin investment to reach your bitcoin target. You should also know that the lowest price that you will buy bitcoin this bear market will not be the same price in the next bear market, because bitcoin price keeps increasing overtime.

This is why DCA is the best approach so that during the whole of one circle, you are busy accumulating regularly with DCA, and before you know it, you would have acquired a good fraction of bitcoin than when you are waiting to buy only during the bear market. That is why it is dangerous to wait because, time waits for no man, and your futire is drawing nearer. As long as you are on consistent DCA, you will buy bit2both during the bear market, when the market is sideways and in the bull market.