Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Ruttoshi
on 24/05/2024, 11:26:59 UTC
⭐ Merited by JayJuanGee (1)
I can't be that conscious to invest due to bitcoin price is increasing rapidly, you most at least scrutinised the market and understand the next movement of Bitcoin through the chat or move of candles sticks, probably, we need to know that is not all about investing but understand the system first, many of you is curious to invest when the price of bitcoin increasing and you feel is the best time to accumulate your bitcoin.
A beginner don't need to understand anything about the next movement of bitcoin or read candle sticks or charts because they are irrelevant. The reason why I said that they are irrelevant is because that investor does not want to trade. What you stated are for traders, a new beginner that plans to hodli for long will not run at loss and can buy bitcoin anytime either in the bull market or in the bear market. This is because his aim is to accumulate as many bitcoin as possible overtime. If a new investor buys his first bitcoin during the bull run because he feels he needs to start right away, and continue to DCA every week or every month regularly without skipping on week or month, you will see that he will also buy bitcoin during the bear season till the next bull run. His average bitcoin price will be balanced and he will be in profit in the next 4 years even if bitcoin price have not passed when he bought his first bitcoin.

So this is why much knowledge about the market is not needed but on to buy and transfer to your hardware wallet, because you don't need to distract yourself about the price of bitcoin, you are only focus on buying. You should also note that the price of bitcoin increases overtime, and it is not easy to know the next movement of bitcoin price, and it is very stressful to read charts and candle as a beginner who has the money to start his bitcoin investment right away. Even traders lose a lot because they find it difficult to know the next bitcoin price movement and read candles.

It means that the new beginner that is suppose to buy bitcoin at 67k now will take a lot of time studing without any bitcoin, might end up buying at higher price or will miss the quantity of bitcoin he is suppose to have accumulated because of learning what is not useful in bitcoin long term investment. The new investor just like @JJG use to advise can start accumulating and learn at the same time.