When the price of an asset suddenly drops, you
DIP it. It is better to invest in this confidence that it will increase again in the future. If you hold it in the long term, if the investment strategy is correct and the price does not fluctuate and you have a risk-taking mentality, you can benefit more. Even if the price increases temporarily, hold it for a higher price increase later. If you want to be successful, long-term investors such as Bitcoin holders, investors in various stock markets, and believers in various technologies will reveal the correct value of your assets.
Fair enough, buying an asset When the price drops and you decided to hold for the long term and probably sell for a higher price is good, but it shouldn’t be the basis upon which you’re building your bitcoin portfolio. And especially as a newbie who is venturing into bitcoin investment, it will be wise for you to completely erase the idea of you wanting to only buy when dips occur. As a bitcoin investor and knowing full well that bitcoin investment is a long term project and at such your goal is to be focused on the long term strategy of continuous accumulation, and build up your portfolio, and then holding for the long term. Having known all of these, wanting to buy when dips occurs will not help your investment portfolio growing up, rather it will slow it down because you will be waiting for the dips which may never occur and within a short period you’ll be tempted to sell off your portfolio for a quick gain, and you end up not continuing your investment anymore. Instead, you should be more focused on building up your portfolio by being consistent with your accumulation using your discretionary income, you can decide to go by the DCA method of accumulating whereby you can buy weekly or monthly with a certain amount depending on your income. Gradually with this you’re likely building up your portfolio, and then hold for the long term as a bitcoin investor. But with this mindset of waiting to buy only in the dips, you will end up as a trader, always trading for quick gains and not worth because the end there of is full of regrets or had I known.