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One of the major thing an investor should know especially the newbies coming into cryptocurrency is to have a strong and prepared mindset that when bitcoin price dips, it should be an opportunity for us to buy more and not to panic into selling off my portfolios. A newbie that is able to conquer this in their mind, they will never have problems with the dip. 1BTC will always be 1BTC unless you take a portion of it and sells out that its value will reduce.
A projected profit target should be reached before you sell off your bitcoin.Many dips have come and gone and bitcoin always bounce back. The enthusiasm in bitcoin has made it an asset that many people have believe in to always bounce back even when the future of it is not certain by anyone. Owning bitcoin for several years is not a guarantee that they can be able to withstand the market conditions, if their mind is not prepared for it, they’ll always feel bad and have a reason to sell some part of it off.
The only nest time to sell part of your bitcoin is when you have already have more than enough Bitcoin in your portfolio that you might no need to buy more but just to hodli. And that does not mean that you should sell all your bitcoin because you have gotten the profit that you need from your bitcoin portfolio but only sell little portion that will not affect the size of your bitcoin portfolio at all, so that you can continue hodli your bitcoin for more compounding profit in future.
An investment should not be shutdown when it is flourishing but should be maintained for continuity overtime and this is same with bitcoin because it is an asset that is worth keeping.
It is all great because selling a portion of it will make more sense than selling all of what you got in your portfolio. It is an investment that’s already projected to grow overtime and not a short one. If the price of it rises as many have envisioned it to be in the future, your portfolio value will only get more richer because by some time in the future, you would have made x2 or more of what you’ve invested it in and will continue to increase as time goes. Maybe this can also be viewed by some people as a great profitable business that they can depend on in years to come but the volatile nature of it won’t make it more suitable for that but am investment in it is worthy of being profitable in the future.
The bitcoin market have been generous to investor this year both those using the DCA method and those buying the dips, none have been left behind and all of them have had the opportunity to buy as much bitcoin as the desire. As of this moment, I don't this moment I don't think there is anyone that will feel left behind yet unless those still sitting in the fence or those weak hands that panicked and sold when the market started correcting. Those are the true losers that might end of regretting when the market is fully recovered. I will continue to maintain my DCA method to take full advantage of this golden opportunity the market offered us again to buy bitcoin around $50k, a price I thought we had passed and was not coming back to. The market behavior also made me realized that the mistake people make trying to predict the market is really a terrible and unnecessary one. The focus should always be to buy and HODL and allow the market develop accordingly
Yes I also think bitcoin market has been good to investors this year. Both people who invest little at a time and those who buy when price is low have been able to get bitcoin. But people who sold when price went down or are still waiting might be sorry later. I think it is best to keep investing little at a time and holding onto bitcoin instead of trying to guess what market will do. This way we can benefit from long term growth of bitcoin. Right now the price is around $57k which is a good time to buy.
The market is not here to keep waiting for those that won’t take advantage of it immediately they see an opportunity. A lot of opportunities have really came around in this yearly only, I mean through this circle. The way bitcoin dipped back was not something anyone expected but it was an opportunity for both existing investors and new investors to accumulate more into their bitcoin savings. Right now, I have come to realize that the market cannot be predictable, even if the market dips more, it won’t be a surprise to me again. This is what the brain behind this thread is all about “
Buy the DIP, and HODL!”.