"Buying the dip and HODLing Bitcoins" is a popular strategy, but with inherent challenges. The difficulty lies in identifying the right dip – a temporary price drop before a rebound. While technical analysis can offer clues, the cryptocurrency market's volatility makes perfect timing nearly impossible. However, consistently buying smaller amounts (dollar-cost averaging) can smooth out price fluctuations. Additionally, Bitcoin's limited supply and potential as a borderless digital asset make it attractive as an inflation hedge. While its price swings can be dramatic, some believe its long-term trajectory could outpace inflation, offering a potential store of value. So keep buying Bitcoins and HODL as long as you possibly can!
I really don't think it is logical or a good strategy timing the market, reason being that as an investor your primary concern Should be how much BTC you can accumulate or you have accumulated and be able to hodl for a longer period of time. Because timing the market will really be a total waste of time because Bitcoin is a volatile asset anything can happen, so you can enjoy with those that was accumulating more Bitcoin without timing the market when Bitcoin start doing wonders, so accumulating more Bitcoin now is the best strategy and also the right time to buy and to accumulate more Bitcoin using the DCA strategy regardless of the present price because the the amount of Bitcoin you have will determine how profitable you will be and also remember to hodl your Bitcoin for a longer time.@zacks5000, you don't seem to understand the logic of that bolded sentence from what @speedbitcoinwallet was saying, his emphasis was more of asserting that due to volatility timing the market can be very impossible that although technical analysis can give a clue and he goes further to talk about consistent buying through the dca strategy in other to mitigates the price fluctuations over a long time of offering a potential store of value.
@zacks5000 I think you have gat what speedbitcoinwallet all wrong.
Waiting is not an investment strategy... whether your starting goal (ideas) is 1 bitcoin or some other amount...
Hmm, I get the point now.
Even without any knowledge, one can still start investing in Bitcoin and in the process of investing one can learn.Hmm, I get the point now.
Exactly now you get the point.... it will be very stupid to wait and learn when the price of What you're learning keeps appreciating day by day.
Once you're determined then the investment should started ASAP without any further delay and the best strategy beginners could use without even knowing anything about bitcoin is the DCA strategy , its simple and straightforward ...
Besides, learning to me is a continuous process which might even take forever so waiting to learn before investing when you think you know it all
( that person must be a clown) is so dumb, although as a beginner you need to know some basics like choosing a wallet and keeping it keys safe( that can be learnt in just a day), he/she will be holding there's no need for getting too much In learning about the technicals as a beginner although understanding how transaction works while you invest could be a great idea so you won't get your self stucked up with alot of inputs on the long run, focusing on your DCA strategy will be the greatest advice for beginners too even when they already learn other strategies, a time will come when there will be a need for other strategies which is definitely not at the beginning of ones investment .I don't think that really makes too sense, having a basic knowledge is far different from not having any knowledge and that sounds too awkward hence, acquiring a basic knowledge is what is required of before investmenting with hope of learning more on your way up, of which certain considerations or factor are very viable as to that regards which includes:
1. Your income flow (understand your the level of your disposable income) after taken care of your personal needs to a provitional emergency funds
2. Your risk tolerance level
3. Methods of buying (lump sum or dca)
There are basic knowledge one should get before venturing into any form of business or investment, it is going to be a disaster entering into any investment without any basic knowledge.