Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
JayJuanGee
on 26/11/2024, 02:06:11 UTC
[edited out]
My Dad (may his soul rest in perfect peace) would always advice me against selling my properties or belongings (for any reason) with intentions of buying them back later because getting them back would never be as easy as it looks, and the price may have even tripled by the time you're ready to buy them back, and i believe it's similar to selling off a percentage of your stash with intentions of buying in a dip because the next dip might even be higher than your anticipated price so it's a risk that i believe isn't worth taking.

You might be able to apply similar ideas to other assets and/or currencies, yet I have me doubts... . since bitcoin is likely the most sound money that has ever been put into existence, which causes potentialities that there could be a step up in its price at any time, and since we cannot know when the step up in price is going to come, then we have to make sure that we are erroring on the side of always being in and being really sparing with any amount of bitcoin that we might sell, especialy whil ew are in early to mid stages of our bitcoin accumulation journey.

Of course, once we get further along in our bitcoin accumulation journey, then we might start to feel that we have more options to shave off our bitcoin at any time, yet at the same time, even if we are further along in our bitcoin journey, we still might want to search out other sources of income or currency to spend first prior to spending our bitcoin (except for in spend and replace situations that shouldn't necessarily end up involving large portions of our stash or spanning over any kind of meaningfully long period of time.. perhaps a day or two at most.).

One of the things about bitcoin is our need to learn about it enough to get it into our head that it is an item for stacking and accumulating and the price does not really matter very much.. just keep persistently, consistently and ongoingly continue to stack it.. and yeah, the more that we stack and prioritize our stacking (through buying, selling does not fit the definition of stacking), then the size of our stack should help to inform us more and more if we might need to customize whatever we are doing in regarding how hard we stack or if there might be periods that we stack less hard or perhaps on a weekly basis we might do our DCA buy yet within the week we might choose to attempt to strategize to buy at low price points within the week.. and there can be variations in regards to how we employ our level of aggressiveness that revolve around our cash management situation too.. so for example if we have very irregular income and expenses, then we may well have to keep quite a bit more cash on-hand and available and as our cushion as compared with someone who has a job that consistently and dependably pays on-time and an expected amount.