Quote from: Mayor of ogba on May 24, 2024, 04:47:48 PM

Quote from: GeorgeJohn on May 24, 2024, 10:43:02 AM

Quote from: Troytech on May 24, 2024, 08:18:07 AM

Getting a standard knowledge of bitcoin isn't something a newbie can cover in a week or two this could take months or even longer before he we would understand more about himself like cashflow management, risk tolerance and his investment timeline, all this are decisions that could take some time to figure out, waiting is a very wrong idea especially when you already know how to buy bitcoin and where to store it, this are the basic knowledge that I consider important for a newbie the rest can be figured out in the process of buying bitcoin, yes some newbies can tend to be very aggressive with regards to the price of bitcoin which I don't really support cause aggressiveness without knowledge of yourself can cause you to sell very early than expected, so a better advice like what Jay had said earlier on would be for them to get started even if it's a very little buying purchase of 10$ weekly and consistently while the figure out themselves properly.

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.

First of all, this thread is about buying the dip, and hodl. Your suggestion is only for the people who are in bitcoin investment for short-term profit (day traders); they are the ones who need to analyze the price of bitcoin with the knowledge of technical analysis so that it will help them to guess if there will be a dip in bitcoin, so they can buy bitcoin at a low price and sell when the price is high to enable them to take their short term profit. But for those who are all in on bitcoin for the long term, they don't need to do any analysis before they can accumulate bitcoin. They can adopt the DCA strategy to accumulate bitcoin when the money is readily available, and they will buy bitcoin even when it is increasing or decreasing. The DCA strategy will help them buy bitcoin at different prices, and the ones they bought at a low price will make up for the ones they bought at a high price.

The risk level is relatively high in short-term investments because they are always interested in buying BTC at a dips price but they forget that it may dips further. They may even fall behind the sales target at some point. Sometimes technical results may not work because market conditions are a reflection of buyer and seller interactions. Normal inflation and environmental factors may affect the market which is normal. However, DCA method of buying BTC should be considered for easy continuation of investment. Through this strategy, the objective of buying at regular intervals is a mixture of different prices in the market, which is to reduce the level of buying when the price is high and to increase the level of buying when the price is low. As a result, more BTC can be accumulated for the same price. There is a common saying in the market that investing at the wrong time leads to more losses for any investor. But if one starts DCA in bullish period and keeps buying target at regular intervals for long term then his stash will gradually increase and may be beneficial for him in future.