Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Frankolala
on 31/10/2024, 18:18:00 UTC
Different strategies work for different people, some use DCA, and there are those who buy during DIPs. Those who buy during dips are likely to be checking the  price of bitcoin frequently, looking for those moments when the price drops to make their purchases.
It's the size of your bitcoin portfolio and how long you have being accumulating bitcoin, that will determine the strategy that will best be used. A new investor that just started his bitcoin journey will need to use DCA method, so that he can continue buying regularly every week with part of his discretionary income for 4-10 years and above. This will enable him have the opportunity to increase his bitcoin size slow and steady with consistent and persistent buying overtime. If you have extra funds, it's good you lump sum for rapid growth.

However, if you have reached 60% of your bitcoin target, if you adopt buying the dip method to buy good quantity of bitcoin when the price dips. You can wait for the dip and prepare for it, because waiting is no longer a waste of time since your bitcoin size will not increase that much with DCA and you will be buying when the price of bitcoin is high. If you wait and buy at the dip, you will have ths opportunity to increase your bitcoin stash significantly.