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Buying bitcoin when the price is cheap or experiencing a decline (DIP) is indeed a better purchase if the opportunity arises. But as @JJG said, a beginner who is about to start investing in bitcoin, does not need to wait for the price to fall to make a purchase. I really agree with both opinions, because the opinion expressed by @Fury leads to deeper caution and wanting to get maximum profit from his bitcoin investment. However, the opinion expressed by @JJG is similar to the DCA principle, because when buying bitcoin, you don't really care whether the price goes up or down, and this concept is very good for long-term investors. So basically these two opinions are very correct if you want to apply them when investing in Bitcoin (essentially it depends on the person).
Both opinions cannot be correct. You either buy or you wait, and from my perspective, the ONLY way to prepare for UP is by buying bitcoin. You do not prepare for UP by waiting. Waiting is not a strategy that prepares you for up.
Maybe I should give an example?
Hypothetical poor person just found out about bitcoin, and he has an income of about $500 to $1,800 per month, with usual income of about $1k. His expenses are usually between $700 and $1,200, but most of the time $900. He has an emergency fund that is about $1k, a reserve fund and float that is around $600. Right now, with these circumstances, what should he do? Start buying BTC or wait for a dip that might or might not happen.
He cannot do both. He has to choose which one is going to. Right?
However, regarding starting to invest in Bitcoin first or learning about it first, I still prefer to learn about it first. Because in my opinion, when Bitcoin investment only uses greed or reckless capital, sooner or later things about Bitcoin will be learned too. But the bad side is that sometimes learning will come when failure or mistakes occur. This is different from learning Bitcoin before, even though learning it takes longer, when you start investing it will definitely feel smoother. So I personally prefer to learn first, rather than jumping straight in.
Why not learn about bitcoin as you go (like promise444c5 mentioned), and start out with $10 per week - or some other relatively low amount to get started and then figure out other details as you go.. what is the part that you need to learn about that is so important. No one is saying to invest everything that a person has, whether we are talking about the hypothetical person above that I outlined or if you would like to present some other hypothetical person with circumstances that might justify a "waiting" rather than a getting started right away strategy.
By the way, I had already mentioned that a variety of things could affect a tweaking of the BTC buying strategy, so I would imagine that a person who is actively involved in buying bitcoin weekly would be striving to spend at least a bit of time to get more in touch with his various finances and psychology (perhaps in line with the
9 factors), and perhaps the organizing of his finances is already going to put him in a much more solid situation and whatever the bitcoin does would be icing on the cake, especially if the timeline for investing might be 4-10 years or longer.