Ninjastic
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Re: Buy the DIP, and HODL!
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Mayor of ogba
on 03/08/2024, 14:24:06 UTC
⭐ Merited by JayJuanGee (1)
Quote from: Rabata on Today at 04:32:11 AM
Quote from: rachael9385 on August 02, 2024, 08:58:39 PM
Quote from: Katherine_Alicia on August 01, 2024, 08:14:28 AM
I`v Very recently decided to take the "lazy" path, up until now I`v been strategic DCAing, waiting for dips and buying, and it was fun for a couple of years, but now I`v just set up a regular Buy-order twice a month so I can pretty much just ignore it from now on, and only buy extra during dips if I feel like it.
I`m in it for a good 10 years from now anyway, so may as well just set-and-forget really, the thought of watching charts for the next 10 years really doesn`t appeal to me.
The really neat part was that I had an auto-buy last night and it was during the dip! I`d have had to stay awake all night to have caught it.
Well, if you have started your investment then it's good to hear that, but from my perspectives I don't support the ideas of you buying only during DIP as it's not a 100% good idea to buy only during the dip.
And also, you don't need any chart thing as you are not going for trading anyway, traders are the people that needs to read/study the charts before buying, but since you are in for long term investment it would be a good idea to just buy as a you are aware of the DCA strategy.
A holder's main objective should be to increase the amount of Bitcoins so that he can build permanent assets in the long term.
I disagree with your statement because if an investor's main objective is to grow his bitcoin investment, the investor will not be able to hold his bitcoin for the long term. I think an investor should be concerned about how to get a good and steady income source so that he or she can consistently accumulate bitcoin with the DCA strategy and also take care of his daily needs. A good and steady income source will help an investor hold bitcoin for the long term because there's a cash flow for the investor, either on a weekly or monthly basis, that he or she will use to sort out his life, and the investor will not think about selling his bitcoin to pay bills. However, once an investor stops getting cash flow, he or she will find it difficult to hold bitcoin for the long term because he or she will depend on it to survive.