Re: Buy the DIP, and HODL!

Quote from: Wind_FURY on Today at 03:34:33 AM

Quote from: JayJuanGee on October 01, 2024, 06:54:40 PM

Surely part of the challenge for anyone, and maybe even moreso for a bitcoin newbie, is trying to figure out the extent to which BTC prices might be high or not.

The newbies.

I'm very confident that those people who sold at a $50,000 and lower price level will be the same people who will FOMO during the next major Bitcoin surge. But they will FOMO in for less units of Bitcoin because they will be forced to purchase at a higher price level. Although some of them might buy a shitcoin to chase Bitcoin's surge, merely a small amount of those people will actually chase it. - 90% of them will lose MORE in units of Bitcoin.

But I'm also confident that, like me, learning the hard way will turn some of them into Bitcoin HODLers.

You have a very valid point because there is a saying that "experience is the best teacher". Some people that got better in their Bitcoin investment arrived at that point after making many mistakes and learning from them. There was a time I was putting all my money in Bitcoin without making plans for other needs and this made me resort to selling my Bitcoin when I have needs. Then I was feeling like an investor but in reality, I was not growing very well in my Bitcoin holding and most times waste more money paying transaction fees than I would have assuming I plan the investment to invest just what I want to keep in Bitcoin and HODL.

I noticed that it is likely that every newbie investor will FOMO. Why it is that way is what I don't understand but it happened to me as well as many people I know. Maybe that is how to motivation to start comes and that is also how the early mistakes starts. Well, I see it as a learning process that one have to go through to get better at Bitcoin investing.