Post
Topic
Board Speculation
Re: Buy Buy Buy or Sell Sell Sell?
by
Agbamoni
on 27/06/2024, 14:19:01 UTC
As the market dips in price, it is a good avenue for investors to buy additional bitcoin at a discount price. However, waiting for the dip to occur before buying bitcoin can make one miss good opportunities to buy through the DCA strategy.

Having said that, bitcoin investment at this time doesn't call for one to wait for the dip to happen before they buy, rather it calls for buying at any time when you have the spare money to invest just because the bull run is around the corner
Deciding to buy it when conditions are experiencing a downturn, of course this will make us profit when prices increase again, but we must be able to use funds that we can hold for a long period of time and don't let us not hold onto any money in the hope that it will If we can get quick profits, of course this will be detrimental to us when we decide to buy in large quantities and we cannot afford to hold on for a long period of time.

You are right, we don't have to wait for a decline if we really want to collect Bitcoin and also we can't know very well when the price is really at its lowest and I agree with you that it would be better if we could buy whenever we have more funds and can hold in long period of time.
It's a good decision to buy when the price dips but people make the mistake of using funds that are purely kept for other important purposes to buy Bitcoin when it dips leaving them in situations where they struggle to keep up with the investment after doing that. There is no point jeopardizing our investment because of we want to buy the dip. It is optional to buy the dip and not compulsory if we are using other strategies to buy. Imagine a case where we invest 20$ in Bitcoin every week from what we make, we also have our emergency funds and savings or money we keep for the week. Then because of the dip we use all that money for emergencies and savings plus the weekly upkeep to buy the totally wrong dip because if para ventures an emergency comes along the day, we will have no choice but to tap into our investment by selling some to take care of the emergencies.