Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Rabata
on 24/05/2024, 12:13:09 UTC
Quote
This is why it is not good to be waiting and piling up your funds in fiat when you already have an additional income which you can use to invest in bitcoin without a problem and hodli for long. It is never risky because you started earlier than waiting, and you are on a long term bitcoin journey using DCA strategy which will reduce the risk in bitcoin investment due to its volatile nature. You should also note that the price that you are buying today, might not be the price you will next next year because bitcoin price increases overtime, and this is why the investors who bought early are in great profit. The cheaper the price the   easier for you to accumulate more bitcoin, and the higher the price of bitcoin the harder it becomes to accumulate more bitcoin. Don't wait in poverty instead of fighting your way out of poverty with investing in bitcoin immediately you have the money

Waiting and piling up the cash in fiat before you buy is totally the wrong approach if you ask me because Bitcoin isn't a stable coins and you can't expect the price to sit around and wait for you to gather all the money first before you now use when you are satisfied with the money for investment. The right thing to do is simply to keep striving to accumulate just like you have stated with the little earning so that you can meet up with atleast the lower price because you can't tell when the price might go up or even down.


I think it is right to have have a stable income before investing in bitcoin since it will reduce the panic and fear of the investor but anyone who is investing with a little earning will only be hoping to get a quick profit which may never happen easily unless the price increased tremendously after investing so I think saving enough money and having a good and stable income should be considered by anyone before holding bitcoin.

Even if you don't have a fixed income in Bitcoin investment, you can continue investing in this platform. Because the DCA strategy will show you the way to hold Bitcoin according to your income even a low income person can deposit a small amount of their income in Bitcoin. However, in general those who can regularly hold higher amounts are likely to receive higher rewards.

Holding an investment in a stable coin has no chance of getting more than just the deposit in the future but when one holds one's wealth in Bitcoin it may not pay well in the short term but it will definitely turn into an asset in the long term.