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Re: Buy the DIP, and HODL!
by
Roseline492
on 12/06/2024, 09:31:53 UTC
⭐ Merited by JayJuanGee (1)
Quote from: Uhwuchukwu53 on June 11, 2024, 05:58:38 PM
Quote from: Lidger on June 11, 2024, 04:29:59 PM
Quote from: boty on June 11, 2024, 05:07:25 AM
Quote from: Mayor of ogba on June 10, 2024, 06:13:06 PM
I see the idea of building up funds first before accumulating bitcoin as a plan that will delay our bitcoin accumulation journey. Instead of trying to build up funds before accumulating bitcoin, you can use the DCA strategy to accumulate bitcoin either weekly or monthly, whenever your money is readily available. There's no pressure to invest in bitcoin; no one is forcing you to do so. The only thing that can make you sell your bitcoin when it's not time for you to sell it is when you use your whole money to invest in bitcoin. You will depend on your bitcoin investment to survive because you used all your money to invest in bitcoin.
Indeed, this idea can delay us in accumulating Bitcoin and it will also make us delay the profits that we have obtained. Yes, using the DCA method in collecting Bitcoin will make it easier for us to collect Bitcoin. We can use any amount of funds and set our own schedule for collecting of course. we have to do it consistently, in making investments of course we have to be able to make our own decisions and don't let other people influence the decisions we make in investing, if we use all the funds we have to make investments of course this will make it difficult for us to maintain our investments and it would be better if we could have remaining savings for the needs we need to be able to carry out investments well.
Everyone who starts investing for the first time has the idea that they will employ a long-term plan, but for many, the long-term investment plan may not materialize. Some may fail to invest consistently while there are some investors who end up not holding their investments due to various financial crises. Apart from these, those who end up holding their investments for a long time but definitely get a lot better from the investment. DCA investment method is definitely an effective and simple investment method when it comes to long term investment. In addition to the DCA investment strategy, if the investor can build an emergency fund, the continuity of the investment is ensured. If an investor can invest these two combinations then he can later consider himself a successful investor.

I may not totally agree with the part of everyone who start investment having the mindset of long term holding , but for the sake of this thread many has know that long term holding and using the DCA is the actual formula to achieve the real value of their investment in Bitcoin,

On the contrary @Lidger is very correct because is very important for people coming into Bitcoin to have the mindset of holding because there main goal of coming into Bitcoin investment is to have a good return so the only way that would be achieved is only but holding, however the word Holding is very essential in anything that has to do with investment, just like a proverb that says that a patient dog eat the farthest bone, which in other words means that patience is the key because that is what guarantees your success on your Bitcoin investment,  so don't just hold because you saw people doing it, hold because you love it and believe that in the future your investment will speak volume.