Today I see the market starting to recover and bitcoin is trading back above $105K. Anyone who accumulated on the dip the day before has seen how well that approach has worked so far - that's how the market rewards those who use it correctly. Don't be afraid when the market goes down for one reason or another - it will eventually recover for a reason.
Some people are hesitant to buy on dip - even with some of their capital, but the reality is that they are too often late to act, especially after the market recovers. It is okay to buy on a rise - accumulation can be done at any price, but when you take advantage of dip, you will obviously accumulate more bitcoin.
Buying the Dip is very good because it gives you room to maximise your capital per bit of every investment made during those periods. But this does not underscore the dedication of those investors whose strict adherence to their DCA pattern could not allow to acquire on what you see as Dip. What really matters in all an investor does is "adding to his bitcoin stash". However it comes, if you are financially able to add more during a given dip, then it would be an Extra mile. But which ever way, ensure your Emergency funds are not tampered with.
Those who were able to buy when it was $100k and quite lower, they're winners now. It only takes a gut for someone to take a risk and those who did it, congrats already in advance.
The recovery that has happened today is due to the announcement of Trump that Israel and Iran agreed to have a ceasefire and it's most likely that we'll see the end of this year.
Now this is a really good news for everyone even we're far from the battlefield, we're thinking the same so that there will be no more casualties and collateral damage to be taken.
Again I say that it is good that you add to your stash at lower rate but I must say that unless you are a bitcoin trader, it is too early to start celebrating success when you have the intention to hold for 4-10years through which so many market behaviour would still be recorded. Bitcoin traders patiently wait for dips and they sell immediately instead of holding. It's too quick to celebrate when it's still far less than 48 hours.
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That is why it is recommended to use discretionary income for Bitcoin accumulation. The amount of that is kept every week in this strategy will not affect you negatively due to the decrease/increase in price because you are already accumulation from discretionary income.
Be it buying the Dip or buy by DCA, it is always advised that you do that with your Discretionary income which would allow you attend to other personal and family responsibilities. Straining beyond some percentage of your Discretionary income to buy bitcoin is not a good idea if only you aim at long-term holding.
Bitcoin has gone as high as $112k but that didn't make real holders sell all or part of their bitcoin accumulation. Bitcoin when seen as a retirement plan, no amount of market upward shift would make you sell hence, you are already aware that by the time you retire from active service, bitcoin could be much better. So why stress to only focus on dips to sell sooner and buy back when you can also buy and hold continuously and must not be restricted to dips alone.
You are perfectly correct. Many investors actually hesitate to buy on dip to increase the volume of their Bitcoin starch but the problem is to be calculative enough and to be smart to leverage the dip and accumulate more Bitcoin because some fork set their targeted dip to buy and they keeping on waiting for Bitcoin to dip to their target before they will buy and by so doing the price will start to recover making them to missed the opportunity of accumulate more Bitcoin.
Congratulation to those that were able to leverage to accumulate more Bitcoin.
Not all are like that, it all comes back to each person's beliefs and thoughts about what will happen in the future by analyzing what will happen.
I think there are also many who are happy about what happened today including myself because I did not expect the market to recover this quickly even though I was sure so
I also forced and made aggressive purchases beyond my capabilities even though it was risky but prices below $ 100K will be difficult for us to see again and that was proven in just 2 days.Buying the Dip is good but buying beyond your financial capability is already a financial mistake and detrimental to your bitcoin account. Sometimes greed is the reason to some bitcoin failures. Hence you've bought beyond your capability, would you now sell today or tomorrow to recover your funds?? Have you been a Trader or investor prior to this but?? If you have been an investor, don't you think you've corrupted your bitcoin stash which could possibly lead you to premature sales? If you aimed at long-term holding and still bought this dip beyond your capacity, do you have any evidence that this is the least that bitcoin can dip henceforth??
If we believe in the future of Bitcoin then we must remove all fears as well as what happened today, forget it all and focus on the goals we believe in, if there is a correction in the Bitcoin price no matter how deep it is then we should be able to welcome it happily to be able to accumulate more Bitcoin, I did that.
Believing in bitcoin and doing it wrongly is as good as not believing in bitcoin and not doing it at all.
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I think I have said this before and am equally going to say it again, Bitcoin is seriously on the rise because it's still in it early days, so wether their is a war or not, just buy and hold, because in
like 10 to 20 years time from now, this current price that we think is too expensive will be like buying Bitcoin when the price was $10k, so as long as you are only thinking long term, just buy and hold, the rest will be history.
Finally, try to accumulate a very huge stash of it because the unit of your Bitcoin is what's going to determine how successful you might be in the future, so just buy and hold, it future is bright.
Bitcoin has gone too past the attitude of panic sellers and it seems it's not just about recovering. It's about individual beliefs which could possibly be that he or she has been a trader but only needed the right time to exhibit it. Dips come and go always and investors experience them all and never sells when they've not reached their accumulation target which is the only point they can allow for programmed sales which also precede reduce DCA allocation or extended period between DCAs.
Anyone investor that is ready for the Dip shouldn't think twice when the Dip comes because it is always a great opportunity and an advantage to those set of investor but any investor who hasn't prepared for the Dip or does not have the capacity to double there investment should stay off from the market...
This is very correct. Dips will always come, so if you're not capable enough when it comes, stay off. Buying at all means because it is DIP has emptied so many bitcoin wallets. your DCA approach could also allow you buy dips when it falls at the right time when you already made provision to buy, hence buying cheaper at dips.
As you said, those who bought during the dip are smiling now because the price has increased again.
Are you buying the dips because you want to sell off afterwards or because you have the chance to acquire more bitcoin with same funds to hold?? People's attitude to bitcoin differ and that's why you don't have to go beyond your financial capability when acquiring bitcoin.