Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
SuperBitMan
on 06/08/2024, 16:39:10 UTC
⭐ Merited by JayJuanGee (1)
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.
What I was trying to say is that those who started Bitcoin investment newly should not be concern about any dip in Bitcoin it shouldn't stop them from accumulating consistently and that those who has accumulated for 5 to 10 years should be the one worried because of wanting to sell, because one won't sell in a dip since selling in a dip will be a lost.
The message I was trying to pass is that when there's a dip, people who started Bitcoin investment newly should continue there investment.
It means that you don't understand what it takes to be an old investor who have a good experience in the market about the dips and was able to control their emotions long time ago and did not sell.
I understand very well, and I know they are some people who have accumulated for about 5 years now and still having issues in knowing if they have accumulated enough or not, people are different and you never can tell what someone will be going through unless they speak out, or are you saying old investors don't face challenges at some point.