Yes, it is true that if we can buy the dip, then we will have a chance to profit from it. After the dip comes, it gives us a chance to corner. However, I will advise everyone to try to buy the dip, because you can get it at any price. It is very important to know that it is difficult to buy the dip all the time. To buy it, you must try and place an order. You don't have to wait long after buying it, there is a chance to profit within two to three hours. You don't have to wait long to profit from it. I always try to buy the dip.
Buying the dip is important, profiting from Bitcoin doesn't necessarily demand investing from dips, anytime you buy Bitcoin and don't sell until the price increase beyond what it was bought, profits are made. Dips are important because at that moment we can get more portion of Bitcoin with our regular budget, a good investor that wants to take advantage of the dip will learn how to capitalize during bear seasons, the biggest buy can come during dips but that shouldn't stop regular buy as a way of DCA.
I agree with your statement that profiting in bitcoin does not necessarily demand investing from dips. But saying that anytime the price of bitcoin goes beyond your purchasing price, then you've made your profit is misleading. This is a trader's mindset and beginners may not have a clear understanding of what you could mean.
Profiting in bitcoin is not supposed to be aimed at short term which is what it implies by your following statement. Bitcoin will always reward you better in a long-term investment and it makes the profit cumulative. This is why we advocate continuous buys by DCA approach using only discretionary income and not investing beyond your capacity. So instead of looking at every slight upward movement from your purchasing price as a profit, you see it as another privilege to buy more as it keeps going higher and higher. We may not want to loose any of our money even though it's coming from your supposed profit. If anyone should see every upward shift as profit, then you would be buying at higher prices later.
What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.
The best time to buy Bitcoin is when you first heard about it, just like now that you have known Bitcoin and have seen so many people buying enthusiastically, follow them and do what they are doing and in the future, you will follow them to celebrate. Buying and HODL is not complicated, don't let it confuse you even though I know it is a little tricky for a beginner like you. There is a general approach which you will follow to make it systematic and easy to implement. If you have some money or lets say you are into business or working, simply remove the money you will use for food and other basic things from your income after that you will be left with your discretionary income. From that money, use part of it to invest in Bitcoin and use the other part to set aside as your emergency funds which is money you will use incase you have urgent needs that you did not plan for in your basic needs. You can repeat this process monthly and you will be performing what is called DCA method and you will end up buying Bitcoin at no pressures.
After you have started purchasing your Bitcoin, please don't look to sell when you begin to see profits, your plan should be to accumulate Bitcoin and HODL for as long as 5 to 10 years before you can appraise your Bitcoin worth and then congratulate yourself for job well done. You can even increase the years of holding and then make Bitcoin your retirement plan, just like what I'm doing with my Bitcoin too.
I want to agree with you on this. The best time to invest in Bitcoin is as soon as you know. That is, when someone knows about Bitcoin, it is the best time to invest. Because as time goes by, you will fall behind others. To invest, you must spend your earned money correctly and in a planned manner. In that case, the monthly income can be divided into three parts.
Again, a very advantageous method in Bitcoin is the DCA method. In this method, you can keep your mentality steady without getting upset if the price increases or decreases. Another big advantage of investing in Bitcoin in this method is that it can be started at any number.
Along with this, it is necessary to set up your mentality for the long term. If you invest using these strategies, it will be easy to gain financial freedom in the future.
Investing as soon as you know is the right way to start but also investing as soon as the funds are available would serve better. Most of us have heard about bitcoin long ago, but maybe because of unemployment or lack of understanding, many couldn't invest even after willing to do so. Bitcoin investment is something that should be planned accordingly before the initial investment. This is because, if the initial investment is faulty, it may not really work out fine when storms arise. Bitcoin planning involves getting a source of income, analysing your possible salary, separating your money to take care of your family, having some to put in your backup funds and emergency funds and then proceeding to invest what you can afford to hold. If you're aware that the longer you hold, the better then you would make proper plans for your bitcoin.