Ninjastic
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Re: Buy the DIP, and HODL!
by
Mayor of ogba
on 09/04/2024, 21:05:20 UTC
Quote from: Briankimp1 on Today at 03:50:31 PM
Quote from: Mayor of ogba on Today at 03:18:24 PM
Quote from: Berry2d on Today at 03:00:25 AM
Quote from: Troytech on April 08, 2024, 11:43:50 PM


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
Mate, what you explained is not the DCA strategy, but buying the bitcoin dip. The DCA strategy is when you invest in a fixed amount of money like $30 at a regular interval regardless of the market condition. As a newbie just stick with the DCA strategy so that you will not mess up your bitcoin accumulation plan. The DCA strategy will help to control the volatility part of bitcoin in your bitcoin portfolio and also control your emotions.