Surely there is nothing wrong with buying on dips, but a person who has a tight budget might not really be in a situation to change the amount of his weekly-ish investment into bitcoin, so he might well be buying at any price until he works up a bitcoin holding that he believes is enough or more than enough.
I agree with you on this, because some investors can only afford a particular amount as their discretionary income which that is the amount that they can only continue using to purchase bitcoin regularly, and when there is a dip, they only wish that they had more to buy at the dip, but nothing changes as their regular DCA is ongoing.
DCA is good, but if one is in the position of mixing it with buying at the dip, he will achieve a better result compare to doing strictly DCA, but it is not everyone that is at the position to do so, and that is why one needs to look for a means in order to increase his income so that he can be capable of taking advantage of the dip when it comes. People that have jobs, and don't have a means of increasing their income can save some extra funds that comes in that is not part of their salary, funds like bonus or traveling allowance and so on. This will help to buy extra during the dip.
Even if a newbie increases his income, the problem of buying right away (in a DCA) versus holding some value in reserves for buying on dips is not automatically resolved, and it seems that the problem of having money to buy dips is more likely to be resolved by feeling like you have already been accumulating enough BTC and you are able to hold some extra money in reserves for buying on dips.... but yeah part of the definition of discretionary income is having discretion regarding where to put it and if the discretionary income amount is increasing by either receiving greater income or cutting back expenses, then there still will be decisions in regards to where to put such increased discretionary income amounts and whether to keep some in reserves for buying on dips or to just buy more or less as soon as it comes available which would be within DCA practices.
I am not going to proclaim to know the answer because if someone does increase his discretionary income, he still does have to decide whether to buy BTC right away or hold some back for buying on dips - not necessarily easy choices.. yet each of us are making these kinds of balances involving how much BTC we believe that we are able to accumulate and in which ways as our income/expenses might change from time to time, the size of our investment into BTC would presumably be growing, but also its value changing (including the price in which we are able to buy it).
That sounds like a trader speaking, and we should not presume that people who buy bitcoin are traders.
There are a lot of us why specifically recommend not to trade bitcoin, but instead to long term invest it, so in that sense, you do not have to focus much on selling it or when you sell it, until after you have accumulated enough and perhaps been in it for a long enough time.. so then the decisions about when and how to sell could well come later, even 10, 20 or 30 years after being in it...
Yet, of course, it would be difficult to suggest that anyone buying bitcoin for 10, 20 or 30 years not think about selling at all, since the selling kinds of considerations would likely have to do with the person's situation in terms of how aggressively or whimpily he might have been accumulating BTC in light of his own financial and/or psychological circumstances.
Hmm, JJG I was expecting haha if you are active I'll get this reply, anyway, it has been a long time since you've made a quote on my post, cutting the story to a focus point, yup my response was from a trader's perspective as I do acknowledge that 70% of newbies and investors enter as a short term trader they don't care about the Bitcoin's potential and returns in even a time frame of 5 years to 10 years. We can roughly find 5 out of 100 people who are serious about the long-term accumulation as you are saying, for the rest of 95 they are just trying their luck without even realizing the facts and figures.
I doubt that your numbers for traders versus investors are correct with any level of precision (in other words you are making up numbers to make your claims sound good, even if your numbers might have some truth to them), yet even if we agree that a lot of people treat bitcoin as a trade rather than as an investment, I doubt that it is a good idea to promote such dumbness as if it is a good thing to do, especially since many of us already recognize and appreciate that bitcoin remains amongst the best, if not the best investment available to anyone on a world-wide basis, so if you happen to know that kind of information, then why would it be a good idea to encourage trading it (or gambling with it, rather than more sound practices), merely because potentially a lot of folks are doing that. Pretty weak logic there Hamza2424.
Another thing, there may well be a lot of people who have little to no disposable income (and I agree that is the case), so those people who are using their money to buy bitcoin (when it is beyond their disposable income - because they need such money to live) are therefore gambling with their money rather than investing, and surely there could be ways that they could figure out ways to reduce the amount that they put into bitcoin in order to be able to hang onto it longer which would turn their buying of bitcoin into an investment rather than a trade.. rather than attempting to play the wave that is likely not going to get them anywhere in life.. .. It is like playing the lottery. Yes, I know a lot of people do it, but it is not a good place to put your money, so it does not make any sense to be promoting such systems - especially on an individual level, even though people seem to love to do it.
When they put the money that they need into bitcoin and hope to cash out with dollar profits within a cycle, they may well be attempting to play 1-2 years.. and yeah, maybe they will get lucky with that approach and maybe they won't.. and yeah.. maybe if there already exist ways that they are able to set aside that money for 1-2 years, then there would be possibilities for them to choose a different amount (perhaps a smaller amount), in order to set it aside longer, such as 4-10 years or longer, and 4 years is surely on the lower end that would ONLY apply to people with short timelines, and most people should be shooting for way longer than 4 years, otherwise they are still not really investing.
If they were to figure out what it means to invest, then they may be able to figure out how to do such a thing for 4-10 years or longer rather than 1-2 years or some other short timeline trying to play the wave.. ... but yeah it well still it probably would be better if they figured out an amount that they are able to put away for longer than 1-2 years and not worry about it for 4-10 years or longer. There may well be some mindset involved in this rather than any kind of specific inabilities to develop better practices (even though yeah a lot of the world is desperate, yet they likely are not going to improve their situation by trading and gambling with bitcoin rather than figuring out some way to carry out investments, even if their investment amounts happen to not be a lot of money.. but still setting it aside for 4-10 years or longer.
And personally, you can do what you want, but I am not going to encourage trading/gambling rather than investing in bitcoin - even if perhaps a lot of people engage in such bad habits, as you proclaim.
So yeah, just because a lot of people trade and/or gamble with bitcoin and you seem to want to promote those ideas, that does not mean that it is good to promote such ideas as if they were the right thing to do.. You can do what you like, and I will continue to say that it is a bad idea to talk about bitcoin that way, even if a lot of people do it.
And this line of discussion reminds me of an earlier conversation that we had. Weren't you the one who was trying to defend the idea to refer to bitcoin as crypto because a lot of people (everyone else) do(es) it? That is dumb logic, and surely I could be getting you mixed up with someone else, but it seems that we had that kind of conversation in the past in which you were also using vague language such as crypto to also include bitcoin and suggesting that it is a good idea talk about bitcoin like that because everyone else does it..
Poor you to have such lackenings in your abilities to focus.. and you are getting caught up in the fault of logic that involves what everyone else is doing to guide you in your own thinking and/or actions, again presuming that I am not mixing you up with another forum member.
It is good to provide sources for those kinds of assertions, and like you said, it might not be an accurate assessment, but at least if you show the source, then any of us would be able to look into it further.
This is the main reason they said market is volatile and anything can happen at any given point but how do you control it as an investors or trader, is to have it parted after securing your profit for the maintime. What i mean is that if you buy a coin worth of 300$ and immediately in pump to 500$ first you sell your of 300$ and take profits leaving your 200$ gambling with. Then if you just buy and market declining what to do is don't panic keep accumulating more and more then you would see that when the market bounces back then you have double of what you had invested earlier.
You will likely do much better if you have some kind of a long term plan in regards to bitcoin, and sure if you cannot resist but to gamble and/or trade with you bitcoin, make sure that you are not gambling/trading with more than 10% of your bitcoin - while at the same time, don't be cheating by continuing to dip into your main stash of bitcoin when you are losing the 10% that you are fucking around with. There are ways to discipline yourself with limits but also to potentially still gamble/trade within such limits.