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?
So the big hit is buy and buy most necessarily buying as at when there's a price drop and hodl then after sell when the coin is profitable, that's what is required of every trader or investors. But looking at the period we're in it could be either of them buy time or sell time we just need to know when the market is favourable inorder to profitable in the end.
I doubt if you are an investor because you are not speaking like one, as an investor you don't really need to focus at the Dip because it will distract you from your investment and secondly investors doesn't buy and sell because of slight uptrend, investors doesn't consider or see little profit as an option because they focus on long term and that is when the main profit will be seen. Your last statement explain your intention towards Bitcoin ( a trader), because only traders target the market to know when they will be profitable if they buy which is not even correct and certain because it is an assumption.
all of what he said here have the trademark of a trader, because it's only a trader that will only be thinking of making profit in a very short space of time.
Additionally, waiting for dip before buying is not the best way to go about your Bitcoin accumulation because you are going to miss so many buying opportunity which should have been used to accumulation a good fraction of Bitcoin, so waiting for a dip is not the right way to go about your Bitcoin accumulation.
It is adviceable for anyone who is interested in buying not to be waiting for bitcoin to dip before they start buying bitcoin, instead use the DCA strategy once they are able to raise their discretionary income and having a basic knowledge of bitcoin then you can start since DCA allows little by little accumulation of Bitcoin into your portfolio for a long-term
Also best time to buy is when you're ready and not when the market feels right. Bitcoin is volatile and most times waiting for the perfect dip to buy does lead to lost opportunities, because the price of the dip can be more higher than that stage which you could have bought it at that time
Bitcoin is still at its early stage and there's no better time to accumulate than now. Try and accumulate now for it's best for you without waiting for the dip
You will thank yourself in the next 4-5 years