Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
MainIbem
on 06/08/2024, 15:59:42 UTC
You seem to be assuming, $crypto$ that people in your audience are in their earliest of BTC accumulation stages, and that surely makes sense for anyone still in fairly early BTC accumulation stages to not get too worked up about bitcoin prices, and just continue to buy.. .but yeah part of the problem can come when a person might question where he is at and had been considering that maybe he has enough BTC, but he is not sure, so then those kinds of guys who are in that status of not really being sure, they might start to get worried about how much their overall holdings are dropping in value rather than focusing on continuing to accumulate.

I otherwise agree with you $crypto$... part of the goal is merely surviving.  Sure you can continue to buy, but surely some guys ran out of money.  They bought on the dip and they DCA'ed already, so they might have to still wait for some time before their next cash comes in for additional BTC buys so they may well end up missing the greatest part of the dip, to the extent that it even matters, but people get worried about these kinds of perceptions of lost opportunities..   Yet we can still ONLY work with what we got.
Getting worried about the price of Bitcoin should be for people who has been accumulating Bitcoin for 5 to 10 years and not people who just started, the reason why some people who just started Bitcoin investment always get tired very quick is because they are very much concern about the price of Bitcoin.

If you don't have a source of income I don't think is good to start Bitcoin investment, some people usually start and along the line they run out of cash, before starting a Bitcoin investment have a source of income without having a source of income you can't succeed in Bitcoin investment.
And I really don't like waiting for the dip before buying Bitcoin I think using the DCA strategy is more better, some people feels they could only accumulate more during the dip but the question is what if there's no dip for months.
For me I think being consistent with the DCA strategy and also having savings is the best, when you have savings you can use it to accumulate more when ever there's a dip.

@SuperBitMan, the price of Bitcoin shouldn't be a problem for an old time investor that's invested for about 5 to 10 years cause they should've already been aware of volatility and have encountered several dips and upsurge so I don't think your first statement is clear enough, cause newbies are the ones who should be more worried about any slight dip giving that they're not very familiar with the market and would easily give up holding if there's no motivation from anyone. However, to any investor who falls under such category, here's a motivation for you, Microstrategy a multi billion company and one of the top holders of Bitcoin is thinking of acquiring more rather than selling, and they're considering using $2b of their shares to do that, my point is that if a big company is not frightened by the dip and see that as an opportunity to purchase more then every other investors thinking of long-term should learn and be motivated by that. Well I agree with your next statement that it's a wise decision for one to have a stable source of income before embarking on Bitcoin and the person mustn't be very wealthy to acquire bulk BTC but could embrace the DCA method and invest bit by bit depending on the strength of their income.