Well I can not wait for getting my next salary check this week. After I pay off some of my expenses and spend some money on a birthday gift for my dear friend, I know am going to add more sats to my portfolio.
We can see this correction in price for a bad thing or for a good thing. If you are 'bullish' like I am well then you can take advantage of these cheap coins like I am going to do. We must make the best out of this bad position and just HODL.
The dip is only for people who are prepared for it and not for those who don't bother about it because it comes like a thief in the night when no one is expecting it. It might be that before you will take your paycheck this week, you might not see this current price and that is why a new investor does not need to bother about the dip because it will come and go when you don't expect it.
People who are planning for the dip are those bitcoin investors who have kept their reserve funds for the dip and those investors who are on their regular DCA buying every week or monthly because they are in their early stage in bitcoin and will surely buy bitcoin at different market price.
You are right and that has now made it paramount to know by all investors that the dip will not always come when you expect it, you don’t have to be waiting for it because it may or may never come your way or when you’re ready for it. Those that always take advantage of the dip are those that have enough money reserved for it before it even comes. The DCA method is a good way to accumulate a lot of bitcoin in your savings but if you’re able to also buy the dip when it is at its peak, you’ll gather enough that someone that does DCA wouldn’t have.
The DCA strategy is always proposed for those that have a lot of time to to accumulate bitcoin and don’t have the funds all at once to put in them, it is also encouraged to not buy all at once and do DCA in order to accumulate and get the average buy of bitcoin at a very much lower price. The times of the downtrend in the market is always the longest time and if you’ve been taking advantage of it through the DCA method, you would have had enough now and a much lower average price for a buy of bitcoin and the dip won’t scare you off.
DCA does not give you lower prices, and also holding back money waiting for the dip does not guarantee that you will end up geting more BTC or even getting the BTC that you get at lower prices. In the whole scheme of things, those waiting for dips may well end up being disadvantaged by employing that tactic, unless they are merely using a buying the dip tactic to supplement an already existing DCA strategy while realizing that their buy the dips may or may not end up getting executed and the buying the dips might not even make enough of a difference to make it worth it to employ buy the dip strategies.
Once a person has accumulated a lot of bitcoin and becomes a bit indifferent about whether he has enough or not, such person might have more luxury to wait to buy on dips since he already has a decently good sized stash of bitcoin in light of his overall financial circumstances.
Yeah you are right, those waiting for the dip what if there's no dip for some months or years, so you will keep on waiting, people waiting for the dip end up not Accumulating something meaningful, using the DCA strategy is the best, now me that is using the DCA strategy to accumulate during the dip i increase my accumulation percentage of After using my savings to purchase and you can see if those using the DCA strategy still takes advantage of the dip to accumulate more so why waiting till there's a dip before you start your accumulation journey.
People that wait for a dip to happen before they can accumulate are just Bitcoin traders who end up losing at so point because of Panic and fear.
And yeah I think that's okay if you have accumulated enough and you just decide to hold and always accumulate when there's a dip in other to add more, but those who has not gotten to any level in there Bitcoin accumulation should not think about waiting for the dip because it will turn out a waste of time, if you have the available resources you can start accumulating, if you check the drop in Bitcoin price is very small so why wait.
I can compare the time you mentioned with the current time. Bitcoin prices are relatively bearish at present. At this time we can do our best to be aggressive in investing. We will try to buy as much as we can, as this dip gives you enough time to become a strong investor. Feel the extreme need to use bearish markets to become a whale investor. Because this time gives you the opportunity to be aggressive in investing, if you plan to use this moment properly, you can quickly turn your investment into a strong investment. You can plan to keep a reserve fund, which will help you become an aggressive investor.
Currently, almost most investors have changed their plans to be a little more aggressive in buying Bitcoin because previously there were many investors who expected to see Bitcoin drop to the $50K area and that has happened in the past two days. So for now I think there are many investors who have smiled again after seeing the price of Bitcoin in the range of $57K which has indicated a profit in a short time for those who have been aggressive in buying Bitcoin in the previous price decline.
Short term profit is not important to long term investors who plan to hodli and at the same time build their bitcoin stash because it can be a distraction when you are concerned about profits and that is why new investors should aim high and plan on long-term goals in order for them not to regret their actions in future for not being patient with their bitcoin portfolio and hodli for long due to little profits.
Seeing little profit in your portfolio does not mean that you are already in profit because bitcoin price can dip drastically and you will see that you are running at loss. This was what happened to me recently during Sunday dips, I saw how my portfolio went down in value and I was happy that I am on a long-term investment.
What I am trying to say is that, the only time one can be in profit is when you have hodli for 4-10 years and above and at the same time building your bitcoin stash with DCA. That is when you will know that you have begin to achieve profit because it will not be possible for bitcoin price to go dip to the extent that you will run at loss because you bought bitcoin more cheaper then.
A lot of what you are saying seems correct Ruttoshi..
My first 2 years in bitcoin my BTC portfolio spent a lot of time in the negative including a lot of time 50% in the negative.. so that can be a bit of a negative feeling.. and even in my third year in bitcoin, my overall overage was a bit ambiguous whether it was in profits or not.. but then yeah the relief did end up coming.. so maybe a lot of that might not even make very much sense, but if you consider that I got into bitcoin in late 2013 and the first bitcoins I bought were close to $1,200, but the whole of 2014 the BTC price went down so by the end of 2014, my average cost per BTC came down a bit below $600 per BTC on average because I continued to buy, but then at the end of 2014 the BTC price dropped into the $200s for much of the whole of 2015, so since I kept buying, but I did not have very much free money to buy BTC, I was able to bring my average down to close to $500 per BTC, so then the BTC price did not shoot above $500 until mid 2016, but then still it was not convincingly above $500 until the end of 2016, and surely I made some mistakes in 2017 that could have brought my costs back up to $750 ish and then later I might have made some further mistakes so I frequently like to say that my average cost per BTC is $1k since it is easier to calculate using a round number... so then the question can be whether you are in profits and then another question could be if you had a certain higher number of bitcoins at an earlier date, do you still have those or how many do you have left.
So there can be some assurance that the longer that any of us are in bitcoin, then the more difficult it becomes for the BTC price to go below certain price points, such as considering the 200-WMA as a kind of bottom price for bitcoin, and the 200-WMA continues to move up even though there have been a few times in which the BTC price had dropped below the 200-WMA.. so it is not completely guaranteed to be a bottom, but that kind of an indicator should give us some kind of a reasonable reference especially since it measures the average trade weighted weekly BTC price over 200 weeks which is really almost 4 years.
One thing I think helps to make Bitcoin grow in price and become more valuable is the high number of people holding and interested in Bitcoin.
And yeah you are very correct the longer those people holding Bitcoin keeps holding the valuable Bitcoin becomes and it won't fall that dip in price.
One can only be successful in Bitcoin investment when you hold for long, I know someone that has been holding his Bitcoin for 7 years now, he said he will keep holding till Bitcoin hits $100k and he said is good to place a high price tag you want Bitcoin to reach before you can start selling that it helps to hold for long and I think I agree with him.