Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Wind_FURY
on 31/08/2024, 07:33:35 UTC

If you ask me, it's more about use about 10% of monthly salary to DCA, then save the rest. Because if we are lucky, and a golden opportunity comes again - it might be a good time to be irresponsible and use up to 90% of your savings to buy the DIP.


Using 10% of monthly salary by salary earners is not a bad idea, I consider this one of the best approach when it comes to DCA, cause one would still have reserve funds as a leverage to take advantage of the market when their's a massive dip for instance about weeks ago when Bitcoin fell below $50k. This is the more reason why it's advised that people shouldn't loan money to go into Cryptocurrency, imagine if someone made entry with a loaned money at $60k plus and the market declined below $50k they'll end up being in a big mess cause I wonder how they'll pay off the debt, investing on Bitcoin especially when someone is using the DCA method is meant for those who got a stable income and not some jobless person trying to alleviate themselves with the little funds they got through Bitcoin.


This is merely my personal opinion, but that DIP was NOT the actual DIP. Follow and study the price and its relationship with the 200-Weekly Simple Moving Average. If you haven't made a lump sum purchase with your savings yet, then it's probably better to DCA 10% of your salary and continue saving the rest while waiting for a crash near the level of the 200-Weekly SMA.