Quote from: SmartCharpa on Today at 03:53:47 PM

Quote from: Alpha Marine on November 29, 2024, 06:57:45 PM

It's funny because you can never even know the dip. A person waiting for the dip like you said is not ready because there's every chance he will buy it at a certain price but it keeps going down and he will start regretting why he didn't wait. You can buy at 50k thinking that's a good price only for it to drop to 30k.
That's why it's best to invest in DCA. One thing about this strategy is that you'll be surprised at what you accumulated at the year's end.
Another reason why waiting for the dip is not wise is that there's a chance you may not have money to buy when the price dips and you'll regret it.

Delaying can be very risky, which is maybe why some individuals haven't yet purchased their first Bitcoin. Many people have been waiting for the price to drop before making the decision to buy, but nobody can predict when the price will drop. The price of bitcoin may not move for several months, and investors who use the DCA strategy will keep accumulating. The price of bitcoin is currently at $96k, so we won't be shocked if it drops more seriously. The only people who will spend the rest of their lives waiting for the dip are those who are not ready.

Quote from: SuperBitMan on Today at 01:41:17 PM

We should not be discussing trading in this thread what we should be discussing is accumulating Bitcoin and hodling, we all know that trading is very risky however if you wish to play around with your money you can only do that with 5 or 7 percent out of your 100 percent discretionary income that way you won't feel much pain and frustration when you lose.
And yeah is true that there's risk in accumulating and hodling Bitcoin for long term but the risk in long term Bitcoin investment is lower than that in trading.

The fact that some individuals still describe trading as holding Bitcoin is very surprising. We must realize that the purpose of this discussion is to advise those who are interested in holding Bitcoin for the long run to continue holding it, even if the market price is changing. As you mentioned, trading is highly dangerous and is like gambling with a small amount of money that you won't feel bad about losing. However, buying and holding Bitcoin is completely different from what some people believe, and you may lose more money than you can afford when trading. So I don't think using a DCA strategy to accumulate Bitcoin is risky.

In the context of this thread we are not talking about trading or selling bitcoin in order to accumulate more bitcoin. Selling is not a good strategy to accumulate more bitcoin.

Sure the title of the OP might be misleading, since it has a concept of buying bitcoin on the dip, which implies that there might be some advantages to identifying the dip or even to wait for the dip rather than buying regularly. So there is plenty to talk about in this thread in regards to the various ways to accumulate bitcoin, and trading and selling bitcoin seems to be outside of the scope of what we have been talking about in this thread or should be talking about in this thread since if we start to talk about trading and/or selling then we get diverted from the main ideas of accumulating bitcoin for the long term, and what tactics and strategies might be effective for accumulating bitcoin.

Holding can mean don't sell when the BTC price goes up, but it also could mean don't sell when the BTC price goes down, and one of the practices that I like to advocate, especially for newbies, is buying BTC all of the time and no matter what, yet there surely could be times where we are not able to buy anymore bitcoin because we ran out of money and we have to wait for our next paycheck to come before we are able to buy more bitcoin, which would be another opportunity to just HODL through such period in which we don't have enough money to continue to buy BTC.

If we really work through the ideas of how much BTC any of us might be able to accumulate, there are many of us who will realize that it is likely going to take 10-20 years or longer to really build up an investment portfolio, unless such person has already gotten some kind of an investment head start or they are able to draw from other sources, such as having a very strong income relative to their expenses. So if someone identifies that he wants to accumulate bitcoin and get to a certain level of BTC accumulation, then the best ways to accumulate bitcoin have to do with ongoing, persistent, consistent and even aggressive buying of bitcoin without going overboard, and selling does not seem to have any place in the logic of actually striving to accumulate bitcoin, and personally, I doubt that there is any need to sell any bitcoin prior to reaching a status of overaccumulation (absent the times that someone might want to spend and replace his bitcoin in order to support the spending bitcoin infrastructure).