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Those set of people only care about quick profits and only invested because of how they heard people making money from it. They believe they can just come in and make a quick profit without really caring to understand bitcoin investment properly and when it doesn’t end well for them they are the ones who go on to spread negative words about bitcoin because they didn’t carefully plan their investment. There are ups and downs in bitcoin investment as the price will appreciate and depreciate so to beat the market easily one should focus on long term investment and accumulate bitcoin using DCA strategy that way you are eliminating volatility of the market from your worries and since bitcoin has proven itself over the years long term investment is the best for you.
Of course level of profits may well be a factor, and surely most folks are going to prefer to be in profits, yet if someone might invest into something like bitcoin, it could well end up playing out that their holdings are not in profits for 4-10 years or maybe even longer, and so if we have a long term investment, we are calculating that it is more likely that we will be in profits rather than not being in profits, yet we are likely investing based on a kind of believe that our investment is inclined towards going up.. yet we could get drug through extended periods of negativity, and unless our investment thesis is broken we still may well not be selling, even if the total of our holdings is in the negative, and we may well continue to buy for long periods of time that our investment is in the negative, especially if we conclude that our reason for investing had not been broken... which sometimes can also be difficult to know since negative price performance can frequently shake people out of their commitment or their losing their conviction about the investment.. which also takes us back towards some needs to build conviction about our investment, even if we might not know a lot about the investment at the time we get started investing and we hopefully learn information and build our conviction with the passage of time, and if we are not sure about an investment, we may well need to make sure that we temper the amount of our investment into it until we are gaining more conviction about the investment then we likely can continue to increase the amount that we are investing into it.
People can become confused about their own level of conviction and why they invested into something, yet the view of the asset is ONLY
one of the nine factors, and other factors to consider when investing into bitcoin would also need to be part of the formula for figuring how much to put into bitcoin based on various personal financial (cashflow) and psychological considerations.
You’re right, trusting your investment decisions and believing in bitcoin’s potential is crucial for successful investment so no matter what happens along the way selling should not be an option until your investment goal is achieved.
It’s just as you said, a person should channel in an amount that matches their conviction about the investment and the more they gain more conviction they can increase the amount they are investing. A person investing too much in something they have little believe in will make them doubt the success of it even though they are looking to be in profit. So we need to clarify our conviction while considering other factors before investing to ensure a confident decision.
Buying every dip is easy to say, but difficult to identify the dip (for me at least!)
Every time the price of bitcoin drops I am afraid of the point that it is going to stop or it will be ongoing for a long time. Looking at charts and trying to make my TA sometimes prove me wrong!
You're thinking like a trader, investors don't need to constantly watch charts or analyze trends. Deciding when to buy during a dip is a personal choice, based on individual risk tolerance. Buying during a dip can be a good strategy, even for those investing with DCA. If you have extra funds, you can take advantage of the dip and make the most of the opportunity.