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Re: Buy the DIP, and HODL!
by
Samlucky O
on 27/07/2024, 09:54:28 UTC
⭐ Merited by JayJuanGee (1)
Quote from: MusaPk on July 26, 2024, 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.
Yes actually price is an important factor, but waiting for it to dip before buying may not be the right decision, rather you can apply all the three bitcoin investment strategy which are buying the dip, Dolla cost average (DCA) and lump sum. Atleast this will make you buy regularly through DCA and buy the dip when bitcoin price is dip or you can lump sum at a go when its dip or when you have received a huge fund which you will like to invest once. so that it would not be something you will have to wait to dip before buying. because bitcoin price always rise and fall so the DCA will keep you balanced in other not to put yourself into unnecessary stress of checking the price of bitcoin and when to buy the dip. Just make sure you always have a discretion fund to help you achieve this target because that will be your purchasing power after you may have settled all other family expenses.
 
Quote from: MusaPk on July 26, 2024, 10:26:07 AM
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.
The number (1) of the (9) strategy which is cashflow may not may not only be the best option, I believe that with my explanation above I think the number (8 ) is also important which say that

Quote from: JayJuanGee on December 15, 2021, 02:10:03 AM
   
(Cool your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time,
This means as time goes on you will learn more strategies because it's not only for newbies because surely most people still lean more strategies as time goes on. Since no man is an I island of knowledge.