Re: Buy the DIP, and HODL!

The recent DIP was caused by the German government's irresponsible market sell orders they did on the Bitcoin market. But because there were probably investors that saw it as another opportunity to buy the DIP, they took advantage of the German government's actions. Cool

What if it is because of me that the German government sold to enable me collect more Bitcoin for my DCA value Cheesy

. Well, we don't have to be too emotional to the point of calling their action irresponsible because believe it or not, there will always be buyers and sellers in the market in response to the forces of demand and supply. Besides, if there are no sellers willing to give up on their Bitcoin easily, many people like us will not see the opportunity to take advantage of such generosity.

I have learnt to focus more on myself in this journey, so that I will be able to secure my future by consolidating on every opportunity I see in the market. In other words, I always aspire to get better at prudent management of my finances. I think this is more important than trying to dictate what the weak hands do with their Bitcoin.

Those people who get that tendency to be emotional caused by the smallest negative price movement of Bitcoin are those people who want to take profit in fiat. HODLers are in a different mental state. They WANT those DIPs, whether they're buying the DIP are doing DCA. It's simply another opportunity to buy more units in Bitcoin.

Plus if you're a HODLer you should actually have a good understanding of the basic technical side of Bitcoin. It helps not to panic because you know Bitcoin has massive potential value, although sometimes there might be some anxiety. We are still humans.

I'm not in any way dispelling the importance of the knowledge of price movement, especially when it is for academic knowledge only and not a tool to make us take rash decisions. Any knowledge that helps the investor collect more Bitcoin and manage them better is important and that I will not stand against. Just that the danger of expert knowledge of Bitcoin, which many people take pride in, is that it embolden one to think that they can master the price movement and predict how the market moves any time any day.

I have seen someone boasting that he holds only from bear season to bull season and that during bull season, he sell his entire Bitcoin and wait for the next bear season. While this look perfect for him, he was unable to prove that he has gotten more Bitcoin as time progresses because he only had more fiat in bull season than in the bear season when he entered but in reality, his total Bitcoin was depleting because he end up not completely putting all the money back into Bitcoin. So if he take a personal investment appraisal of 10years or more, he will realize his Bitcoin actually did not make much progress. This is my challenge with the technical knowledge because it often does not translate to better holding.