Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
MainIbem
on 22/09/2024, 13:40:31 UTC
⭐ Merited by JayJuanGee (1)
This piece literally sums up the whole idea of investing wisely which is by investing an amount of money you can afford to lose. Investing with a sense of moderation. We need not put all eggs in one basket and by way of this in figuring out our respective level of balance to avoid reckage is by diversifying our investment to other physical assets within our reach that we know can be profitable in the long run.  Now this doesn't mean that bitcoin doesn't have a bright future ahead to do better but it's just a way to guard oneself against future uncertainties everything being equal.
Confidence is in yourself, if you have made up your mind to buy Bitcoin why should you diversify your assets.
In my opinion, if you want to be successful, just get past your doubts, it is true that investing is not with all the money we have but only a part of it, aka we invest with the DCA strategy.
Saylor alone who bought thousands of BTC did not diversify his assets, not to measure it but he knew BTC would not die or lose value if the internet still existed in this world.
Also, you are still hesitant about bitcoin because your post has various meanings that can be explained because you said you have to diversify. It is not wrong, but try to stand with your beliefs.
Portfolio diversification is a basic principle in investing that can reduce overall risk, but as long as the chosen coin has strong fundamentals like Bitcoin, then diversification is not necessary because the more people adopt it, the value of Bitcoin will continue to increase due to its scarcity. Bitcoin has a strong reputation and has been widely adopted around the world, making it more stable than other crypto assets. Although its price also fluctuates, historically Bitcoin tends to recover and continue to increase in the long term. Doubt will hinder the path to success in investment, Bitcoin is the best choice for those who want to invest long term, while DCA allows investors to collect Bitcoin periodically with a percentage of money prepared to invest.

I used to think diversification help reduce risk, my reasons was that It would help in a case where Bitcoin drops in price cause my other coins would still be intact not until I tried it and noticed that when Bitcoin dips, most other Alts dips with it so I had to perish that mindset of diversification and stick to holding Bitcoin, it is the best coin when it comes to investment and doesn't have much risk factor cause even when the price dips you could still DCA and recover losses overtime. infact, so far an investor is thinking long-term which is the main principle of investing in Bitcoin, the dip or fear of price drop shouldn't be an issue so far the investors keeps DCAing at various Intervals over time. Therefore, instead of diversifying I think an investor should channel such energy and funds into accumulating more Bitcoin, I've got to understand that most investors don't understand the DCA method and how helpful it is towards Bitcoin Volatility and that's why they'll be diversifying their portfolio with shitcoins instead of using the DCA to accumulate more bitcoin periodically.