Buying the dip is not trading; even though you are accumulating bitcoin for the long term, there is nothing wrong with buying bitcoin in a dip because it will help you accumulate bitcoin at a low price. But since you are a newbie, it is not advisable for you to adopt buying the dip so you will not try to time the market and get delayed in your bitcoin accumulation journey. You can stick with the DCA strategy so that you can accumulate bitcoin either weekly or monthly, even though bitcoin is increasing or decreasing. The DCA strategy will also help you control your emotions.
When investing we must invest in long term plans. Maybe trading can be sold with small profit but those who invest always risk more money and they hold their investment for longer period of time for more profit. So far those who have held onto their investments for a long period of time have not had much of an investment failure. Especially if you consider the latest investment case where Bitcoin broke all of its past records and reached record highs at which time at least no investor was out of profit. Bitcoin price has touched a high this year and so far the Bitcoin price has been hovering near record highs, but those who invested in it are definitely seeing substantial profits this time around. After the market touched the highs, it went lower for a few days and the market settled around $55K at this time many thought of investing but those who invested from within are definitely seeing substantial profits now.
Those of us who invest if we think too much about investing and what will happen or not why we invest so much if we don't invest then we won't invest. Because overthinking the investment will only lag behind, but if you can invest with risk, then if you are patient, you can definitely get a substantial amount of profit from that investment.
Lets put up some example condition into that recent drop of 57k. Whom had thought that it would be going down even more? For sure majority of people on the market had made out those assumptions that it would be going something low below 50k price level because they've been anticipating for that significant correction on where most people had been that waiting because after halving there would be
something like this or condition where it would really be making out that huge correction.
On the moment that you've seen that 57k then you would be having doubts that it isnt the bottom. So you've waited then it did make out some bounceback. You would be telling into yourself that well this might be a dead cat bounce but eventually the price did continue to rise and this would really be leading up that another batch of regret that you should had made some entry earlier.
