Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
JayJuanGee
on 10/10/2024, 06:42:45 UTC
⭐ Merited by Justbillywitt (1)
If you start trading then start in bitcoin it will not let you face loss, but you will get profit from here especially use DCA it will help to reduce risk all the time. We know it's always better to use DCA as a smart investment.
It's an unhealthy advise telling someone to stick with Bitcoin when trading, deciding to trade with Bitcoin or any other cryptocurrencies issues same losses, nothing distinguishes the risk management, it all goes down to how the funds is being managed, using Bitcoin to trade does not stop you from losing as well. Anyone who is scared to lose should be focused on investing their funds in Bitcoin, either strategies are okay depending on the individual balance and how he understands the market.
I think this guy meant that Bitcoin has advantages in terms of trading over other cryptocurrencies.
But, I understand your point, in general, trading is really very dangerous, and even if you speculate with Bitcoin in an attempt to guess the price, you can lose your deposit as quickly as on roulette in gambling. And the fact that Bitcoin returned to ATH will not help here. Also, trading and speculating with the first cryptocurrency can make attempts to accumulate Bitcoin fickle, but investing according to DCA has advantages in this.
This method makes the one who wants to accumulate Bitcoin disciplined, despite all the other multiple advantages of this method.

It seems to me that trading an asset that is as powerful as bitcoin, there become considerably great risks of selling too much too soon, and that is especially bad if the goal of the trader had been to trade in order to try to increase his bitcoin holdings faster than merely buying bitcoin on a regular basis.  They also likely miscalculate the costs of waiting rather than persistently and consistently accumulating, so even though the DCA buyer might end up with higher costs per BTC based on his consistency, persistency and ongoingness in purchasing bitcoin, he will also likely end up with both more bitcoin and also NOT taking any chances on being out of bitcoin during times in which the BTC price does a step ladder upward move and does not return anywhere close to prior price levels. 

To me, it does not seem to be worth it to be fucking around with bitcoin in those kinds of trader ways, even though surely bitcoin is a more solid asset class, but still should not suggest that it is better to trade merely because it is a more solid asset class. ... but instead bitcoin being a solid asset class likely justifies that guys should not be fucking around and even trying to trade it, especially if they are in their earliest of stages of BTC accumulation and perhaps even if they are in their later stages of BTC accumulation, especially if they perceive themselves to still not have enough BTC.

But yeah traders going to trade and frequently not be able to control themselves in their attempts to improve upon an already great asset class (and investment) - namely bitcoin.