Re: Buy the DIP, and HODL!

Now I'm curious to know the sentiments of other people waiting for the dip if they are really accumulating at this situation. Fear towards more dumps provably spreading and if we could see lots of statements saying that they wanna buy more because they already see a perfect opportunity which they are waiting.

Some got panic in this situation since we can't deny that this current dump can really bother us especially if we look our portfolio.

So what's best for now is to continue their accumulation and just ignore the panic done by lots of people. If they can accumulate that's good since for sure that those dump is just temporary and they might struggle to see bitcoin touch at $50k level again if bitcoin price recover.

Who doesn't panic, everyone will panic seeing their portfolio falling deep, but then again investors the goal is not now this is not the end of everything, surviving will be better even the 4-year plan for hodl is still long then it can be to get through the current situation.

What is panicking now is that traders are going "long".
An investor will remain safe, will not be liquidated if he does not sell.
Hold on! Buy now.

Actually not everyone got panic in this situation since we able to see that bitcoin price slowly recovering this scenario give relief to people who know that this events really happen. Maybe those people who got panic are in trading, But usually those people who decide to hold their bitcoin somehow find a good opportunity to increase their holdings by buying bitcoins at bargain price.

But we can't really deny the fact that there are people crying for help because they are liquidated. This scenario is somehow a wake up call for people that trading is really risky option to do especially if they don't know how to handle well the situation currently occur. If they just decide to hold for sure this current dump will not give them much stress. But seems lots of them likes to play fire that's why some of them got burned when bearish condition occur.

You joined the forum during 2014, and learned about Bitcoin before me. If you bought the DIP and HODLed and/or DCAed since 2014, then your average purchasing price would be very VERY low so mini-crashes going to $40,000 or back down to $20,000 would never cause you any panic.

Personally, I have my doubts that the mere fact that a person who presumptively has been in bitcoin longer and presumptively accumulated a decent amount of BTC at lower prices would not necessarily panic during various extreme BTC price dips.

Sure, there should be more systems in place that contribute towards longer time bitcoiners to figure out how to manage their bitcoin portfolio and other parts of their cashflow, yet I think that from time to time, some of the longer time bitcoiners do panic and make decently sized mistakes with some or all of their BTC holdings, yet many times, the longer term bitcoins will not be very likely to be playing around with large portions of their BTC holdings, so if they make mistakes, such mistakes would more likely involve less than majority portions of their BTC holdings rather than more than majority of their BTC holdings.

I believe the longer a person has been HODLing, and the lower his/her average purchasing price - he/she would have less probability to panic. That's perhaps because of simple human psychology and experience?

Think of person who bought his/her Bitcoins last cycle with an average purchasing price of $5,000 vs. a person who bought his/her Bitcoins this cycle with an average price of $50,000.

The solution for people who panic - Cold Storage in an offline computer. It will take a few extra steps to move your Bitcoin, making you not to move them at all. Cool