Quote from: Hewlet on April 15, 2024, 03:17:02 PM

Quote from: Sim_card on April 15, 2024, 06:50:41 AM

Quote from: Tmoonz on April 15, 2024, 01:56:19 AM

Quote from: cxtreenal on April 15, 2024, 12:18:27 AM

Expected better price means buy bitcoin at dips. You should decide to buy Bitcoin by monitoring the market conditions to get the expected good price or dips. But in case of depositing bitcoins or following investment DCA method may the best choice for you. The Bitcoin market is constantly changing colors so choose your best option. Rest assured that the DCA method is going to be the comfortable investment you expect.

No mate, that is not the best approach you don't have to time or monitor the market condition if is a long term investment plan , which is the concepts of this thread. Those that time or monitors the market conditions are the traders whose aim or intentions are only to maximize profits within the shortest time frame which is considered to be gambling rather investing. The dca strategy allows you to buy Bitcoin irrespective of the price point either weekly or monthly based on your financial situation. However, buying at the dip can be very good as it gives you the opportunity of buying more Bitcoin at a price lower than it's previous high but it shouldn't be considered as a primary investment strategy, the best approach could be being consistence with your dca strategy and prepare yourself for the ups and down that may happen or not to enable you maximize every opportunity of accumulating more of Bitcoin in your investment.

The best way to grow and build your bitcoin investment portfolio at that early stage is just keeping on buying with DCA persistently and consistently till you have reach maybe 50% and above of your bitcoin target before you can start considering other method of accumulating, like buying at the dip or lump sum. If a beginner wants to use the advance method of accumulating bitcoin by timing the dip, he will end up not having very little bitcoin overtime, because you can never know the bottom line of the dip. What if you think that you are in the dip, and bought with all your funds as a beginner, and the market goes dipper, you might panic and sell thinking that the price of bitcoin will keep going down, and that will result to loss. Long term hodlers that just starts his bitcoin journey do not need to monitor the market in order to know when to buy or not just use DCA to take advantage of the market.

once you start to time the market at the phase of building your portfolio, you will have issues buying much Bitcoin. Sometimes we get it all mixed up and think that if we're able to time the market and buy when the market is at the dip, then we're smart and that it's the surest way to make more profit from Bitcoin. What most of them forget is that you can't be too sure of what the price of Bitcoin will be while waiting for it to go more bearish you will be in a better position to buy. Let's say you Bitcoin at $62k yesterday and you have the resource to buy at that price but because you feel it should go down the more maybe to $60k before buying, it lead you to procrastinate and then you're seeing that Bitcoin is now at $66k and you're now confused if you should buy at that price or if you should wait much longer for it to dip back so you can finally buy and then you have to wait and then Bitcoin starts going more bullish which only leaves you with regret that doesn't translate to increasing the strength of your portfolio.

I think the best thing to do is to determine your own dip. The level of dip you want to see before you engage in market. Let's say you want to see 10% dip from the market before buying, all you have to do is calculate the price that bitcoin will be when it ships 10%. When you have gotten the price, you go to your exchange and set a buy order and leave it. If bitcoin dip to that price range your order will execute. This will help you no to be confused as you already determined before time the level of dip that will be okay for you to engage. If it dip further after your order has been filled, it's no longer your business, as you have achieved your target that was set before time. If it didn't dip to the level you were expecting, you have nothing to lose, you just continue with your routine DCA. But for me I think it's important to know the % dip you are expecting to be able to utilize the opportunity when it comes.