For our fellow plebs who have not accumulated fully yet, hopefully they get a deeper correction because it would be good for them. More units of Bitcoin will be purchased for the same amount of fiat.
But for my own selfish reasons - Yes, I don't want a deeper correction.
In summary, sure it is possible that BTC prices might dip more from here, yet they might not... so any low coiners or no coiners should be focusing on buying bitcoin persistently, consistently, regularly, ongoingly and perhaps even aggressively, whether or not there might be further dips from here (currently in the last 4-5 hours bouncing in the lower $106ks).But for my own selfish reasons - Yes, I don't want a deeper correction.
NEVER NEVER NEVER AGAIN.
It was a VERY MASSIVE MISTAKE to have that sort of hubris, and that overconfidence.
NEVER AGAIN. Although I truly hope we would never see Bitcoin crash below $100,000 again.
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There's a chance that they might easily got affected on a series of volatile movement that's why I will not also suggest to anyone to invest large portion of their savings especially if this is their first attempt investing on Bitcoin. Maybe they should start slow since somehow they are learning and they could just add the size once they already get lots of knowledge about what they are doing and also aware about what risk they might face since with this I guess they are ready for whatever upgrade they want to happen on their Bitcoin investment.
What's important is they start even in slow phase since everything would provably follow especially if they became a experience investor later on.
I don't know what they should do, nor do I care. Haha. But personally, if I was starting today, I would rather wait than FOMO.What's important is they start even in slow phase since everything would provably follow especially if they became a experience investor later on.
It is funny how you keep coming back to the same solution of waiting rather than getting started. If a guy does not have any bitcoin, he needs to get started rather than waiting, especially since the only way for a no coiner to prepare for up is by buying bitcoin... otherwise guys are only preparing for down that might not end up happening, which causes even more problems.
The better situation is to buckle down and start buying $100 per week of bitcoin (or whatever happens to be a reasonable budget for the beginner), and to just keep building the BTC stash 4-10 years or longer... At some point it might be good to become more aggressive, yet there may be needs to learn along the way and to make sure that the guys cashflow management systems and back up funds are sufficiently in place and in a good place.
At the same time, anyone investing into bitcoin can keep buying with their incoming cashflow. It is not like people tend to have the means to put in everything at once, and even if they did have some lump sum amounts available in the beginning, there can still be quite a bit of value in front loading your investment into bitcoin, even if the BTC price ends up going down at a later date. I like to consider anyone front loading their investment may also want to continue to invest into bitcoin on a regular basis, even if they had front loaded the investment.
Waiting as a bitcoin investment strategy is just retarded, since it puts a person in a wrong mindset... yet being reasonable and prudent and ongoingly investing is likely a good idea and to attempt to build the bitcoin investment up until a point of adequate or over accumulation before changing strategies, and surely it could well take 4-10 years or longer just to build up the bitcoin investment, so getting started remains a quite important action, even if a person may also be learning and tweaking his various bitcoin accumulation techniques and his cashflow management techniques along the way.
Yeah, it may likely take around 1, 2 or even more cycles to build a significant Stash(depending on the investor's aggressiveness). And during this period of time, it's crucial to continuously accumulate with incoming cash flow, as it's likely that some people may choose to front load their investment. It's not as if front loading is bad strategy, but it yields better results when combined with an effective strategy like the DCA strategy, you can decide to front load your investment when you feel like increasing your aggressiveness, combining this strategy can also help to potentially mitigate certain risks too.
It's also true and worth noting that waiting for the right time as an investment strategy may potentially lead to a flawed mindset and perspective. It pays more to be reasonable, disciplined and consistent in accumulating BTC, and maybe subsequently you may potentially run an evaluation in your current strategy and observe if there has been a change in your financial situation or goals, and then if the need be, you can choose to make some changes in your accumulation strategy.