⭐ Merited by boyptc (1)
Hard to know.
might never happen again, or maybe it will?
I am not going to proclaim to know, but like you suggest, it does not hurt to buy such dip, just in case such price levels never comes back ever again.
Sounds bearish dude, bat slappenings! might never happen again, or maybe it will?
I am not going to proclaim to know, but like you suggest, it does not hurt to buy such dip, just in case such price levels never comes back ever again.
Or at least less bearish.
Think about it.
You are saying $65k might not happen "for a while," and I am saying that $65k "might never happen again."
My statement is more bullish than yours..
nanu nanu.
. This might sound selfish in a way but that is just my wish because of my targets. This weekend I'm expecting my salary and several annual allowances including profit sharing, 60% of which I want to invest in Bitcoin through lump sum buy even as I have my DCA method still running smoothly. So, the lower the price of Bitcoin, the better for me because I will be getting more Bitcoin with my investment than I would get when the price already surges. Nevertheless, whatever be the price I do not really care because I'm not looking to sell anytime soon. I may be bullish on the long run but for now I want a little retracement to enable my orders get filled at decent prices. I would suggest that Odohu used the term lump sum correctly, since he was talking about receiving an extra amount of money that was outside his normal income, so when that money comes available, he is considering how to invest that money, and he was considering that he was going to be investing the money right away, yet he would prefer for the BTC price to be in a dip status at the time that his extra money comes available. He is not holding back and waiting to buy on the dip, he is merely waiting for the money to arrive, and he hopes that the BTC price will be in a dip status when the extra money arrives in his bank account... that seems to be a proper use of the term lump sum.
A new beginner don't need any understanding about the market because his focus is only on buying bitcoin overtime without selling. It is hard to predict the dip no matter the knowledge that you have in the market.
They still need to understand the market before investing. Someone who's investing without basic knowledge is going to have emotional hiccups and might panic in the end. That's why if there are beginners there, I still advise them to at least learn and understand what volatility is before buying Bitcoin.
It's hard to buy something that you don't understand even if the crowd says that it's fine.
But you can continue to learn while on process of accumulation since its important to start since if you wait for long time to learn a lot of things then provably that you will just face some delays since provably you will doubt to start especially if you see the market is dumping. I understand your point, but if you are at the point that you are sure to invest with bitcoin and already know that this is good asset then start to invest. You will only loss a lot of money if you trade it , but if you are buying and hodl it for sure the risk is so low since your money is just there waiting for the timeline you set to sell it.
It seems to me that the more that a person might be worried about BTC volatility in the beginning may well be mitigated (and/or addressed) by BTC position size, and sure that might mean that he starts out with a small investment, and he studies bitcoin in order to become more comfortable, yet it still seems important to emphasize the part about getting started rather than emphasizing the part about trying to feel comfortable prior to getting started. DCA should also help a person to get started, so as he is getting used to BTC, he is DCAing something like $100 per week and perhaps it takes several months before his BTC
position size starts to add up to a decent sized amount of money... and surely in the meantime while he is buying bitcoin every week, he can be studying bitcoin and yeah sure the larger his amount of money into bitcoin then the more and more motivated he should become to learn about bitcoin.. . ...and so I surely would not be encouraging anyone to be ignorant about the thing that they are investing into, yet people have busy schedules so it can take them time to learn about bitcoin, but their need to learn should not stop them from getting started investing into bitcoin, even if the starting amount might be relatively small as they are learning about bitcoin. ... and if $100 per week is too much, then figure out an amount that is comfortable to be putting in during the earliest of days in which there also might be some studying and learning taking place too.
A quick glance at bitcoin's historical price should be able to show that bitcoin can be quite volatile and unexpected in regards to which direction in the short term of less than 4 years...hopefully anyone getting involved in bitcoin would be shooting to get involved for 4-10 years or longer, and so if they are brand new to bitcoin, they might need to study it in order to get comfortable that their investment is 4-10 years or longer.. but they do not need to study prior to getting started.... and in the end, each person is responsible for his/her own investment strategy, and waiting surely does not seem to be an investing strategy, at least not from my perspective, but if someone invests into bitcoin and they are crying that they are losing money in the first year or two, then that is their own responsibility to figure that out, not mine since I am not telling anyone to have less than a 4 year investment plan and even after 4 years I am not responsible since they are the one who made the choice whether or not to invest in bitcoin and how much to invest... and how to go about their investment, and if they are so short sighted as to choose not to invest and to study bitcoin instead of getting started, that is also their own fault for considering that to be a good approach to bitcoin. The best approach to bitcoin is get some and be responsible for how you go about it.