With the sudden fall of Bitcoin price at this early stage of this very month of August, do we even have to see something new as in terms of getting a new price? From $69k back down to $50k as the current price, the market price was a bit strong in heading towards the $70k which was the resistance for the better part of 2-3 months ago now we have been trying to see it get to that amount or even get past it but nothing relatively positive has happened to meet up to that amount and now we have it at $50k which is not in anyway trying to go up, who's going to complain more, old investors who has been hoping for the price to continue going up or the new ones that just saw it getting to $70k and all of a sudden it went back to $50k?
New investors should be happy with the current dip because it is an opportunity for them to accumulate more bitcoin at a cheaper rate. Buying regular with DCA is the best because at times like this you will not be left out to benefit from the dip and I don't think that any new investor should worry about bitcoin dipping to $50k because that should not be his concern. His concern is to continue accumulating and building his bitcoin portfolio towards his bitcoin target with his ongoing DCA consistently and persistently because he is on a long term investment and bitcoin will surely recover and even go higher above $100k in 4 years time.
So this is a good price and time to take advantage of the market instead of panicking. Old investors are already used to bitcoin price movement and it is a norm to them to continue hodli without fear because many of them are already into good profit due to the compounding effect of their bitcoin portfolio. But the truth is that nobody loves to see the value of his bitcoin investment going down due to market dip.
Thinking of accumulating for new investor is the only thing they should be concerned about because they don't have much to worry, in no time the price will go up in their favor but old investors should be the ones to be afraid of losing especially when it gets down to $45k which I'm not hoping it will but we have to tell ourselves the truth, Bitcoin price when it wants to go down it does it in a way that you ask if you're doing the right thing and sometimes you begin to doubt yourself and that's fear of losing talking.
The old investors might be familiar with Bitcoin price dropping but I don't think is all that have the patience and the time to stay focused rather than panicking, that too is normal for every holder, so I believe this particular drop of BTC has made many to start tapping their panic button, but is not yet time for that, I'll say is time to wait for the market price to take a new turn.
Of course, the more BTC that anyone accumulates, and the more that BTC goes up in price, then the less it might feel that any new BTC purchases make any kind of a difference in the size of the BTC holdings - yet at the same time, the more that the BTC accumulator accumulates, then the more s/he is going to perceive his investment going way more down in value rather than being able to appreciate how any new amount of BTC that he purchases is allowing him to stack more sats.
Sometimes the amount of sats or the size of the stack is misleading, yet it still seems to be the case that a large number of newbie investors are likely to feel much better later down the road if they have spent a decent amount of effort stacking as many sats as they can during their first cycle.
There are even quite a few longer terms BTC investors who may have even had considerable amounts of increases in their income in the last several years, yet they still can look at their bitcoin holdings and recognize that in their beginning years they were able to stack way more sats on way lower levels of income as compared to how many sats they are able to stack these days with even way higher quantities of dollars.
I can even give my own example in which there was a lot of time in 2015 that I had some shortages in my cashflow, yet I would still buy BTC whenever I got some extra money coming in (or I figured out I had some extra money).. So if I had $100 extra come in, then maybe I would use half of it to buy bitcoin which would get me right around 0.2BTC (for $50). It did not seem like a lot at the time, but I continued to do that for quite a bit of 2015, with varying amounts of money coming in, $10, $40, $80, $400.. and then half would go to bitcoin and the other half would go into my float (a kind of a reserve for possible expenses that might come up). That was the way that I was dealing with my cashflow through much of 2015.
My point is not to idolize 2015, but instead to suggest that there likely remains value in terms of accumulating as much as you reasonably can without over doing it, especially in your earliest years of accummulation.
Another thing that happened to me is that I had been pretty aggressive with my BTC accummulation from the start, so I had been thinking that after a year of accumulation, then I was more or less good in terms of the amount of BTC that I had accumulated between late 2013 and late 2014; however part of the problem was that the BTC price stayed down for another whole year, so I could not resist but to continue to accumulate, and that is how I came to my own self assessment that I had overaccumulated by the time we got through 2015, and so that was how I assessed and considered my BTC stash to be within a kind of state of overaccumulation.. and it really never did fall out of such status of being labeled as overaccumulated. So any subsequent practices that I had in regards to bitcoin were different in my early accumulation stage (which was 2014) and then my overaccumulation stage which was 2015 and even a bit into 2016), and so ever since 2017-ish, I had been dealing with my way of assessing my being in a state of overaccumulation.
Part of the reason why I so frequently suggest that members spend their early years in bitcoin getting to a state of adequate or overaccumulation is so that that they can get to the next level, yet surely one of the disadvantages that many folks have is that they are also new to investing, so it could take them way more than one or two cycles to get to a state of adequate or over accumulation of bitcoin, as compared with my having come to bitcoin after already having had a bit more than 20 years already investing into other things.. So it can change your perspective if you are coming to bitcoin as a brand new investor as compared with someone who is able to potentially front load his/her investment into bitcoin a bit more based on having already built up an overall investment portfolio and then merely addiing bitcoin to such already existing investment portfolio as one additional asset.
Some if these newbies feel they did the best thing in investing late when it wasn't going down and to them is the best decision they made which is true but never do they know is also one of the best decisions the old investors did but only that they needed to add some patience in times like this, so that whenever things gets back on track, talking about Bitcoin price it will show them the main reason for enduring for long.
I think your opinion or your example can come a long way when it comes to situations as this and many can learn from your experience and if possible you get a thread or something to expansiate more on whatever you have to share (like a kind of lecture on investment) to the newbies who gets misleaded in the crypto space. From the way you said it on how you make your investment it seems there is no room for losses, and I agree with you because ones you split your funds like having the one for expenses and the ones for investment you won't feel anything when Bitcoin price drops and you know for sure that it must definitely move back up so this strategy is a wise one but some only make use of all instead of keeping some just incase.
You made a valid point there but back then I feel the desperation newbies had wasn't as much as they do have it now and now the patient level is lower than before, not all can endure all you did back then and the seriousness as of 2015 and now isn't the same too, I believe ones you have a target you can achieve something better, so I don't expect any newbies to have those qualities someone like you who have seen in and out of Bitcoin investment. Some who started last year feels they know much but they never knew what it took to get to this level, I just wish with all these said, some will make use of the opportunity they have than bragging of getting to the top just because the market price favors them just one time.