Quote from: HOPE25 on Today at 12:21:56 PM

Quote from: LogitechMouse on March 07, 2024, 06:44:32 PM

Quote from: Dorkylickjj on March 06, 2024, 08:50:37 AM

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?

Well, that just shows that the market is unpredictable.

You can't time the market because it's very unpredictable. You might see it's price going up for a few hours then suddenly, it will go down. Just look at Bitcoin's price a few days ago when the Coinbase anomaly happened. It went down from I think around $68,000 to nearly $59,000 in just a span of a few minutes.

What's my take on what's happening right now? We're in a time where we need to wait for the market to correct before entering. We have been seeing the market going up for days already, and I don't see any reason for me to enter the market when the market is on the green. I mean we want to buy coins at a lower price, so it's better to just wait until the market corrects then that's the time for us to buy.

However, you have to be careful and patient in terms of investment. Waiting and opportunity can be your real success, but if the market price makes it more complicated than you, then you should invest knowing the strategy to deal with risk even if the market price is determined by time. While waiting for the correction, many times the real opportunities can be lost from your hands. If the risk is reduced and the average purchase price is controlled, you can buy.

Why do you wait for an opportunity when you can always invest at any given time that you want using the DCA method, why do you intend to wait for a dip supposedly that is what you’re talking about, whatever the market price is, its is no brainer for you to wait for because you are waiting for something that you don’t know about when it will occur, It is essential that you understand that whatever the price of bitcoin is you can always accumulate with the DCA if you have a discretionary funds which will enable you to sustain the price of bitcoin and you keep accumulating consistently. Well you should also know that investing in bitcoin is all about risk that is why you invest in a long term plans and hold which can help you to maximize the risk involved.