Quote from: Miles2006 on May 15, 2024, 08:44:53 PM

Quote from: Nothingtodo on May 14, 2024, 11:38:38 PM

Quote from: Makus on September 08, 2023, 07:25:21 AM

I recently created a post asking if I should buy bitcoin now or wait for the dip, and majority of the response I got from the post, advised that I should buy now rather than waiting for the dip due to its volatile nature, and I'm satisfied with this response and I'm willing to bear the risk.
Reason for all these questioning, I have a dream of becoming a long term bitcoin holder but, dreams aren't achieved with words alone, an action is needed for the start up, so I have decided to sell one of my less used phone for the purpose of buying bitcoin.
I'm really eager to purchase my first bitcoin in satoshi.

When you invest in Bitcoin investment is up to you, but if you invest in the right market and hold that investment for the long term, your chances of profit will definitely be high. If you don't want to invest right now, you can certainly wait for a big dumping market. Moreover, you can take another plan, in which case you can divide your investment into different percentages and invest in DCA method, in which case you invest in different markets, at different prices.

The part you mentioned an investor should wait for the dump which is referred as price decline is actually not right from my understanding, what’s the point waiting when anyone can start their investment using the right strategy and still acquire bitcoin knowledge at the same time. The only point about the dip it allows an investor to accumulate more but, waiting is not advisable mostly for newly investors. Right market sometimes doesn’t matter cause you might be missing out just by waiting for a right market.

I think he should start depositing bitcoin with little knowledge of DCA if he has disposable income. It is better to start from dumping condition because he can start at lower price. If dumping doesn't get to the price, at least it should start. Later on, the price will decrease as an average of each BTC price. Accumulating BTC using the DCA strategy will tend to lead to long term dips in price.