Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Stablexcoin
on 18/07/2024, 00:42:38 UTC
⭐ Merited by JayJuanGee (1)

Sure the upwards and downwards movements of the price of Bitcoin is what keeps the Market balanced so an investor who is a beginner should not only think about buying with the believe that the price will keep skyrocketing because a time will come when the price will also experience some DIP in price so if it is someone that bought with the mindset of the price to continuously increase, they can become emotional when the price starts going down and they can even decide to sell out of panic which will be a very wrong approach for a beginner. A beginner should be able to understand that the journey of their hodling is a very long one so they need not to look at the price of Bitcoin at any intervals as what they should be concerned about is to keep accumulating through the DCA without dropping out at any point so far as their income is coming on a regular basis.
DCAing every week is a very good and quick way to making huge accumulation but any Bitcoin investor should be able to figure out when to best DCA without being affected in other areas of life so they can still DCA on a monthly basis depending on their inflow and the intervals they received their income, so for someone who receives income on weekly basis he can choose to DCA every week then for someone that receives monthly salary, can also DCA every month so there's no big deal about when to DCA.
It has often been discussed that waiting for a DIP to happen before buying Bitcoin is not a good practice because you can wait for a DIP and it doesn't come at that material time which might result to using up the money you wanted to use and buy at a DIP price on other needs that will arise.
It does not matter at what point we enter the market and start to DCA. Bitcoin has been expensive to start investing at all prices to procrastinators. It was expensive at $1, $10, $100, $30k, and $60 and it is close to $100k and it could be worth more than that shortly. Yet they still can't afford it.