Post
Topic
Board Speculation
Re: Road to 100k?
by
EarnOnVictor
on 07/09/2024, 08:27:27 UTC
The dip is only an advantage or an opportunity for an investor to make use of by accumulating enough Bitcoin so is not bad accumulating when it is dip where it is wrong is when an investor wait for the dip before accumulating.
The strategy you are using to accumulate is the DCA strategy for it helps you to accumulate Bitcoin consistently either weekly or monthly as long as your discretionary income is intact and hodl for long 4-10 years and above.
I like your advice about buying the dip but certainly not the specification of 4-10 years, we should be flexible about this and it depends on the investor's plan and the prevailing market condition. I don't see myself HODLing my position for too long if the market is not breaking its ATH for months and even years, I would rather plan a smarter Bitcoin investment by carefully studying its condition for a while and average what it would likely do afterwards.

By that, I would have known the best place to regularly buy it when it dips and the regular place I would liquidate it when it reaches certain highs to repurchase at certain lower levels again. If such has been done since the beginning of this year I wonder how much the investor would have realized already. However, if Bitcoin can get lower to about $15,000-$20,000 again, HODLing is still good for it because the level is lower enough to give you a rest of mind and still earn well for you over time.

Again, if Bitcoin dips very well like that, I see it as pointless DCAing, and I would commit all my money to it at once in such a situation. This is to hint that DCA is smart in some market conditions but not when the market is already very cheap, what do you intend to lose in that situation?

You seem quite unrealistic if you consider that $15k to $20k to possibly be in bitcoin's cards, and it may well be the case that BTC prices in the $30ks or even $40ks or even sub $55k will never be seen again.
I don't know why I am this surprised seeing our post above, but first, I am happy that the market has proven you wrong already by hitting $55,000 this week, we should be realistic with the market's development and not our beliefs alone, the market is supreme regardless of our idea. I will continue to tell this to every investor, not only in cryptocurrency.

Regarding what you actually replied to, let me assure you misquoted me, I never mentioned emphatically that Bitcoin is going lower to $15000-$20,000, read it again. I only assumed the levels would be reasonable for investors if Bitcoin reached there. It was just an example.