Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Buy the DIP, and HODL!
by
Marvelockg
on 17/09/2024, 13:12:46 UTC
⭐ Merited by JayJuanGee (1) ,DaNNy001 (1)
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.

with a financial strength that can only work with $10 to $100 at Everytime you're to buy Bitcoin, thinking about the price or monitoring the price for the best spot that's most convenience before buying wouldn't help you buy at a seemingly best price. You might be lucky that for some instance, you might buy at a lower price but even at that, because of how small the amount you're using per buy his, it will only give you a slight difference in the price you've bought Bitcoin but in terms of looking for what point you will buy enough Bitcoin, it will take a very longer time

This is what I mean, if we assume that you had $100 you've decided that you're going to use in buying Bitcoin but then, at the time the money is available Bitcoin went up to $66k. Because you feel that Bitcoin can still dip further to $46k, you might get tempted to keep waiting till Bitcoin goes down to somewhere close to that. While you're still waiting, you might end up staying for a very long period of time because we know that we can't be too sure if Bitcoin will DIP further in the next moment or go up the more. Chances are that in the process of waiting, you might not be up touching a portion of the money if care isn't tajen. On the other hand, If you ignored the price and just buy at the time you have the money, you've saved yourself from unnecessary monitoring of the price and can now focuse on getting more money you can use in your next buy.

It's not as though it's totally out of place to look at Bitcoin price, and if we're able to, we can buy at a DIP price which will be to our advantage. The only issue is when you allow it deter you from buying as at when you ought to buy all because you want to be at a small profit.