Quote from: Ndabagi01 on August 07, 2024, 06:28:03 PM

Quote from: Sim_card on August 05, 2024, 04:42:37 PM

Quote from: mich on August 05, 2024, 07:43:49 AM

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.

This is a common misconception from many people when it comes to what they think of DCA. DCA is a strategy that is adopted by various investor capacities or financial levels. It is not meant for those who do not have enough funds and those who plan for the long term. The term DCA as a strategy was introduced based on individual circumstances, risk tolerance, and investment goals to mention a few. For example, investors who have a substantial amount can DCA to reduce market impact. Even those who lump sums to invest can consider DCA to spread out their risk over time especially when they feel they have had a good size amount of Bitcoin in their portfolio.

Quote from: Mayor of ogba on Today at 04:59:27 PM

At Churchillvv, staking bitcoin on a centralized exchange is not a good practice for a long-term investor; you are already gambling with your bitcoin if you do so, and you can lose your bitcoin to a centralized exchange if something bad happens at the backend before your staking maturity period reaches because it's not your key, not your coin. It is only when you hold bitcoin in your self-custodial wallet that you are guaranteed that your bitcoin is safe because only you have access to it. I don't know why some investors who have spent so many years accumulating bitcoin will want to risk their bitcoin for a few dollars or rewards in return.

I agree with you that staking in a CEX is not a good practice. Holding our coins in non-custodian wallets is still the same thing as staking if we maintain the discipline of not touching it the only difference is that apart form the increase in the value there is no extra reward in terms of quantity in the amount of holdings. But its safer to know that your coin is safe than keeping it in third-party exchange even with the ROI they give.