Ninjastic
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Re: Buy the DIP, and HODL!
by
EarnOnVictor
on 24/09/2024, 11:24:22 UTC
Quote from: Promocodeudo on Today at 07:36:59 AM
Quote from: EarnOnVictor on September 23, 2024, 07:36:18 PM
Quote from: cryptoWODL on September 23, 2024, 10:22:04 AM
Quote from: As-Soon-As on September 22, 2024, 11:29:19 PM
But Bitcoin is such a situation that the fear of losing money is close to zero, if he is ready to hold it for a long time then surely Perth will benefit several times. But generally we need to know our Bitcoin buying strategies which we call as DCA method, you can definitely be successful if you buy investment regularly. And if you can buy bitcoins in the deep market it will be possible to hold more.
If you are adopting DCA in investment then why mention dip season. The Dollar Cost Averaging method is where you purchase bitcoins for investment purposes on a weekly, monthly or quarterly basis. My only point of mentioning this is that since you are buying bitcoins for investment with a certain amount of money over a period of time then why should you wait for the dip season.
He is waiting for the dip season, and for this, he is more reasonable. The DCA strategy might have been overhyped by many of you, but it also has its downside, and if waiting for the market to dip before he applies it to maximise his profits, why not?

A clear explanation goes for those who were overbearing by Bitcoin as far back as 2021, they bought the coin at $68,000 in the name of having believed in Bitcoin and DCA strategy is supreme, can they still be in profits after over 3 years (in 2024) judging by the current price of Bitcoin? The answer is a capital NO. This is why we should rather be reasonable than be brainwashed by a certain strategy. No doubt, the DCA strategy is a very good one, still, the right applications matter depending on the market condition and not just buying and buying even as the market is clearly at an overbought region.

Any reasonable and experienced investor must consider other factors like that for him to know when is the best price to strike the market. Above all, the price you buy matters regardless of whether you DCA or not, which is what @As-Soon-As was trying to explain because you will gain more and be even safer buying the dip than buying at the peak. Who does that in the history of investing except such a person is inexperienced?

It is funny to hear that an intending investors is more reasonable in his investment plans just because he is waiting for the dip season to come before he can invest, this is the first time am hearing that and its very surprising to me, @EarnOnVictor with what you have said already it means that your advise to newbies is centered of changing thier mindset to buy during the Bitcoin dip season
I wonder why this is surprising to you and for the record, an investor who started today might be more reasonable in words and thoughts than those who had started before, it's not all investors that are successful. The distinctions between the two will be the facts coming from them and the later results after testing what they say. I've been in the world of investing long enough to know that @As-Soon-As is very correct and being older to start doesn't change anything, "by their fruit you shall know them," and in this discussion, the best words I can hold on to in the world of investing was from the guy who references dip, but as usual, he was rebuffed by those who should even be lectured about DCA approach.

Bitcoin has made many people lazy investors since it is such that you can buy and leave and over time, it will still go back to the level regardless of whether you will hardly make a dime from it or not. Where they start having issues is when they buy at the peak and Bitcoin never returned there for so long, is that a smart investment when losing or earning little for too long? Investing is never by force, that's why we should be reasonable. I see no hurt in wanting to apply the DCA approach but first consult my trading chart to know the market condition. If the market is either overbought or diverging towards the bearish side or already started selling, why not wait until the dip effectively happens before DCAing? That is smarter and you even make more than the person who would buy it from the peak. I don't know why that's difficult for many of you to know as someone's style. All you want is a blind investment approach, I can't join you on that.