Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
buying a coin in dip is quit safer than buying it when it is already high at price, but most of the buyer only buy coins when it is already on top because they can't control thier emotions, and that is the big problem not only today but also from the past people is greedy and they cannot control thier emotions and that make them loss.
Since we are talking about bitcoin investment, I want you to understand that there's no right time to invest in bitcoin. If you are waiting to buy bitcoin in a dip, you are wasting your time, and you may possibly miss out on accumulating a reasonable amount of bitcoin since no man or woman on planet earth can actually predict when a dip will happen. Instead of waiting for a dip, you can start accumulating bitcoin with the DCA strategy when you money is readily available because the DCA strategy will allow you to even accumulate bitcoin in the bullish trend and the bearish trend, and it will also control your emotions.
I still doubt that those who really want to invest in Bitcoin are actually waiting for the price of Bitcoin to drop. Maybe this trend exists among people who don't know that small fractions of Bitcoin can be purchased. A Bitcoin investor never worries about the price of Bitcoin falling, He always has a thought about how he can increase his income, which he will use to accumulate more Bitcoins, that is buy Bitcoins. He even has a tendency to wonder how he will be able to grow his Bitcoin investment. For example people who want to trade may often hear that it is better to buy Bitcoin at a low price and they think that is reasonable. In fact if you ask a real investor, they will never say, Buy Bitcoin tomorrow or Buy Bitcoin the next day. Even real investors would never mention that it is better to wait for the price of Bitcoin to drop.
There are some people who think differently, there are Bitcoin investors who buy Bitcoin only when there's a dip no matter how small or little the dip is they believe is a better way to accumulate and hold Bitcoin for long term, we have a lot of Bitcoin strategy and to be honest there are people who won't be comfortable using the DCA strategy and is not in our power to decide for them the strategy they should use, however what we can do is discuss the different advantage and disadvantage of Bitcoin strategies and an investor who wants to grow will find a more better option, when I started Bitcoin investment i was accumulating only during the dip but when I came into this forum I discovered other strategy and that was how I started using DCA strategy because it was a better strategy, using the DCA strategy will still make you benefit from any dip especially an investor that has backup funds, waiting for a dip to come before you buy Bitcoin will delay your accumulation journey, if you are always waiting for a dip before you can start accumulating then years will pass and you have not Accumulated anything meaningful.
That's their own perspective concerning owning Bitcoin anyways but it doesn't mean that it's the right thing to do. Well, anyone can choose to follow that process if they wish but I won't advise people on that since there's chances of them missing out on owning Bitcoin at a more cheaper rate while waiting to buy it more cheaper, buying during the dip is an opportunity to buy bitcoin cheaper, that's quite right but an investor don't need to wait for the market to dip before they start investing on Bitcoin, they can buy at anytime, do the DCA and still seize the opportunity of buying cheaper when a dip occurs, this particular point of discussion have been treated repeatedly and I keep wondering why people keep bringing it up instead of learning from previous discussions about it, one of the best way of accumulation is doing the DCA cause it gives investor the opportunity of buying with any amount suitable for them to keep investing consistently and it's much more preferable than waiting for the price to dip before buying Bitcoin.
I agree with you here. Buying on dips does not hinder any strategy that an investor uses to accumulate. No investor can ever get the right time to buy at the lowest that is why it is likely an error when an investor chooses to time the in the motive of buying the dip. Clinging to a particular strategy while preparing for any opportunity that may come with the feeling it is a dip. The investor can buy more as long as he has extra funds and it doesn't affects his other investment plans.
I remember sharing my personal experience sometime ago here on this matter. TBH i bough at 64k and saw the price went down to 60k the next day by then it was all about buying the dip. I though that 64k was a dip not knowing it will even go down more. You see, we can never get the accurate time for a dip, we can buy thinking its a dip while we watch the price of Bitcoin sink more.