Ninjastic
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Re: Buy the DIP, and HODL!
by
avp2306
on 26/07/2024, 23:59:08 UTC
⭐ Merited by Zadicar (1)
Quote from: Zackz5000 on Today at 09:24:40 PM
Quote from: MusaPk on Today at 10:26:07 AM
Quote from: JayJuanGee on July 25, 2024, 07:05:21 AM
To state the obvious, there is a certain truth that any strategy has to start from where any of is at right now, whether we have already been in bitcoin for a while and we are figuring out if there might be some way that we might improve our BTC accumulation and/or maintenance strategy or maybe we are just starting in bitcoin and bitcoin accumulation and we are figuring out our strategies, then we have to figure out our own budget and our 9 factors, and our view about the BTC price movement is ONLY one of the factors, which also might not be as important as several of the other factors.. and it could take us years to really get our practices in a kind of order that we start to feel comfortable with the amount of bitcoin that we are regularly accumulating and also the other balances of our cashflow and our cash reserves.

Price moment is just one factor but an important one. Seeing where we are standing right now, it will be ideal to wait for dip that can take price down below 50k and accumulate aggressively at that price. These 9 factors are good specially for anyone that is new to bitcoin and if I have to chose the most important from these 9 then I would go for cash flow since that decide how much you can invest.
Waiting for the dip before accumulating Bitcoin will really delay or slow down your Bitcoin accumulation journey it simply means that if the price of Bitcoin doesn't dip you won't be able to accumulate Bitcoin which is a wrong approach in term of accumulating Bitcoin because you won't have enough Bitcoin stack but with the continue use of the your DCA strategy you can accumulate more Bitcoin regardless of the price level either weekly or monthly and hodl for long with your discretionary income available rather than waiting for the dip in price before accumulating Bitcoin.
It will slow you down to the fact that you are waiting for the scenario which is unpredictably happen. Also if there are dumps would came then lots of negative sentiments spread you will provably get affected then afraid to accumulate in that situation. So for people planning to accumulate maybe more better for them to ignore waiting that scenarios since it will never bring any good to them. They are not doing any trades so waiting for dips is really useless.

More ideal is they focus to implement the DCA method the way how they accumulate since this will give them more better realistic result. This has been discussed for many times so hopefully aside for learning the basic things needed to do at early part of their accumulation, they also know how to execute well so that there will be no other disturbance will come up on their minds. Lastly much better for people to ignore trading since volatility of the market is so harsh for people who doesn't have long patience so people must avoid it.