At different times various issues have hit the Bitcoin market hard and bloodied the Bitcoin market. Throughout the year 2022, there were various issues, Terra Luna crashed, FTX crashed, now Silvergate phenomena which put the Bitcoin market in turmoil. No matter how tough the situation, experienced investors and traders never deviate from their goals. In this case, the inexperienced investors and traders will sell their invested bitcoins even if they come to this bloody market thinking that the market condition is bad. An important point is that Bitcoin has been declared dead 471 times at various times i.e. till today, but 471 times it has been declared dead but later it has been revived 471 times. That is, no matter how bad the market condition is, later the market will go to a good position. So, don't break down in bad situations, be patient and hold your invested bitcoins, and if the situation is good, you will be able to make your decision by understanding the profit.

My suggestion/advice in how to make it easier to make it HARD for yourself from compulsive-selling your Bitcoin because of fear and panic is, HODL YOU BITCOINS IN COLD STORAGE, not hardware wallet, ACTUAL COLD STORAGE using an offline computer. That has saved me many times from "the temptation" because of the extra process of signing, copy and pasting, plugging a USB from the online computer, to the offline computer, back to the online computer.

 

The truth of the matter is that we don't really know which way the BTC price is going to go in the short term.  I recall that when I first got into bitcoin in late 2013, my main strategy for the next year and a half was to buy bitcoin and if I spent any bitcoin, then I would replace it within days of selling it.. so I was quite a bit biased in regards to BTC accumulation and I was worried about not having enough.

So in spite of my bias towards BTC accumulation, by mid-2015, I had realized and recognized that I had over-accumulated my earlier targets, and therefore, I spent quite a bit of time to model out ways in which I would be able to sell some BTC as the BTC price goes up (presuming that the BTC would go up at sometime in the future), so that I could figure out a comfortable way to balance out the "overaccumulation" that I had assessed myself to have had done.

So, even though I had put systems in place to sell small amounts of BTC on the way up and to buy on the way down, when the BTC price shot from around $300 to $500 in a matter of only a few weeks, I ended up panicking and I abandoned my plan to sell on the way up, and I ended up using quite a bit of my left over cash to buy near the early November 2015 top of $500.. which largely meant that I had done the opposite of what I had planned and I had also fucked up my plan because I did not have much of any budget to buy when the BTC price corrected back down to $300-ish and took quite a wile to get back up to $400 and largely got caught in the lower $400s for the next 6 months (until the end of May 2016).... so yeah, I fucked up my situation because I got emotional, and I am pretty sure that I did not make that same mistake again.. because I learned from it.. and it is not easy to learn from these kinds of mistakes or even to have conviction that you have learned something that you are going to be able to apply in the future because every time in the future there remains quite a bit of uncertainties regarding what the BTC price is going to do in the short to medium term, and largely if you create a plan that is well thought through in advance, it tends to be best to mostly stick with that plan because you shiould have already largely accounted for extreme possibilities in your plan so that even if the BTC price ends up going beyond the extremes that you had thought to be possible, the most that you likely should be doing is tweaking your plan rather than panicking and throwing out the plan.. and then making up some inadequate, spontaneous and likely emotionally driven plan..


For sure it is not easy to figure out how much to buy regularly, how much to buy on dips and how much to hold in reserves.. So there can be a bit of a moving target, including sometimes we run out of money when we are buying on the way down, and we are forced to HODL until maybe the next time that we get enough cash to buy, which could be two weeks, but sometimes we might not have enough cash to buy more for 1-2 months... so yeah, it does seem to help to be in profits in your BTC portfolio, even though that does not completely resolve the dilemma, especially if you feel that it is taking forever and you are having difficulties in seeing progress.. which could take 3-6 years or even longer before you start to feel that you are making some measurable progress, and sometimes there are even bitcoiners who have been involved in bitcoin for more than 6 years, but they still feel like they are making mistakes and not making progress.. but harder to make those kinds of assertions if you are not fucking around with trading and you are mostly just buying on a regular basis to the extent of your own abilities and not trying to compete with anyone except for trying to be a kind of prudent, reasonable and perhaps assertive/aggressive version of yourself.. in terms of focusing on BTC accumulation while at the same time realizing that there are not any guarantees that you are going to not end up losing everything.. .. so there are ways to attempt to engage in risk management too. and try to preserve your principle without gambling and/or without taking too many risks.


It is likely a bit more difficult for someone to add new classes of investments (such as an asset like bitcoin) to their investment portfolio or to make any kinds of large changes to their perceptions of investment practices that might have already worked sufficiently well for them... It is not impossible, but surely it can be quite scary for someone who is older to either add something new or even to go through enough hours of research to figure out the value of bitcoin's investment thesis.

There might be some classes of older investors who are more receptive to the idea of adding something like bitcoin to their investment portfolio..

Another thing that sometimes bothers me when I hear really young investors throwing out their anti-government, and burn it all down ideas is that sure there may well be some receptivity that younger investors have to bitcoin or any other investment, because they might be starting with hardly anything.. so they may well be more than willing to get into bitcoin because they believe it is a new system and the old system has to be burnt down.. which really seems to be a kind of naiveté in my thinking .. even though surely, there is truth to differing ways that anyone might think when they have already established a lot of assets (including investments) compared when they are new and they might not have any other assets.. but that lack of assets does not all of a sudden make the no (or low) asset person correct merely because they thereafter blindly invest into bitcoin without considering the various potential of other assets..

And don't get me wrong, I am not even suggesting that there is any need to diversify into other assets when someone is a new investor, I don't see anything wrong with going straight to bitcoin and building up their investment portfolio with just bitcoin and dollars and perhaps when the investment portfolio reaches a certain size, then that same investor might need to consider the extent to which diversification might be a good thing rather than not having any other assets... so yeah an older investor might have property, equities, bonds, cash and other forms of investments that have been largely building and they perceive to have had been adequately working for them.. because they appear to be ongoingly going up in value (dollar value - but they might have little to no clue about the extent to which the dollar has been debased and continues to be debased... so yeah, it can be difficult to see and understand bitcoin's value proposition and young people are not necessarily smarter in those regards, but they might be willing to take chances.. including appreciating number go up technology.. which really is an incomplete believe, even if that framework might be enough to end up being correct)...

Sorry sir, I seem to have focused too much on the points that lead the conversation to the brink of this thread or don't have a clear correlation and not what we usually talk about here.

Now here is the importance of DCA, where we can buy when it bleeds and cast nets and look for dip in the bitcoin decline, we see the price when the news is circulating and it spreads so that there is a decline and if you look at the decline at that time it reaches the price of $ 19.5k and finally comes back starting to bounce into the $20k area.

Monthly DCA and DCA when it drops like that I feel reduces the feeling of disappointment from a drop due to such an accident.
In essence, it is buying and holding bitcoin that you have bought, even if you want to sell it when there is a lot of decline and lots of FUD circulating, but we must not forget history that bitcoin can never be killed by sentences like that.

We have seen that a few years ago, lots of crypto companies or others have influenced the price of bitcoin so that it plunged more than what we imagined at every moment and even reached the lowest price. regret when we listen to FUD that bitcoin will die when it crashes like last year when ftx crashed many people ran from the market because of that incident. the thing that makes me proud even though the amount of bitcoins I bought was not that much but buying in the $15k area is always medicine when there is a decline at a higher price.
I don't feel hopeless even though lately bitcoin has fallen quite extreme, even though last month's DCA I was at $24k but it doesn't make me panic because I still have the bitcoin that I bought at $15k and I plan to keep the bitcoin, and to become history the luckiest in my life.

I think there are many investors who dream big when the market is good and find no way when the market is down. In this fact only those investors will be successful who are interested in holding it and looking for long term profit. In this regard you are most experienced. Bitcoin is once again trading from a dip at $19900 and now $22,283. By this trend it can be assume that it is preparing to become bullish. Those who bought $16k are now in profit but most experienced investors are trying to hold it. As a result, Bitcoin is more likely to go back to $30K or above in the next few months. Those who are determined to invest in Bitcoin never lose in Bitcoin.

When the market creates an opportunity, one can use that opportunity to prepare for long-term investment. If you look at the history of Bitcoin, you can see that after every bull cycle it touches the previous ATH. But this time the situation turned very bad, the market went down more than the previous ATH. So it was a good chance, those who took this chance in preparation for long term investment are already in profit.

Have you heard of bitcoin?

Here we are talking about bitcoin, we are not talking about various shitcoins.  DCA does not work with shitcoins (or tokens).. fuck shitcoins and fuck "potential tokens." 

Go to some other thread if you want to engage in discussions to assess the "potential" of various tokens (aka shitcoins).

The ultimate application of DCA, buying on dips and lump sum accumulation that we are discussing in this thread relates to having had already assessed fundamental strength that bitcoin has in the longer term, so in that regard, it hardly matters what price you buy so long as you continue to buy - especially if your investment time horizon is 4-10 years or longer.

Of course, if you are wrong about your assessment of the fundamental strength of bitcoin, then ultimately your investment might not be in profits 4-10 years or longer into the future.

The idea of buy on dip and HODL has to do with attempting to improve upon any kind of DCA approach that any of us might attempt to apply in terms of attempting to strategize buys that are at lower prices, and of course, HODL would be a kind of strategy that is meant to deal with mistakes of buying too much too soon while the BTC price might still be dipping and you might have already used up all of your cash.. so the HODL strategy would be a way to attempt to get through such dip period in which you are low on cash or you are waiting for more cash to come in or you are waiting for the BTC price to get out of its slump and return UPpity.. sooner or later UPwards movements in price should end up happening, but of course, there are never guarantees, and part of the conviction of making an assessment of decently strong fundamental strength would thereby logically follow that there is a bit of an expectation that at some point upward price movements are going to continue, even while at the same time realizing that no investment is 100% guaranteed, even if it has been assessed to have a lot of fundamental strengths.

Yes I did that, using money I could afford to lose and not to use in the short term. I save value in bitcoins from the side of my budget needs and emergency fund, so you don't have to worry.
As far as I pay attention to the market and discuss it, I dare say that I quite understand the sentimental market. I have my own term in the DCA and HODL Bitcoin strategy, namely "I eat blood, I see green".

Yes Lump sum would be fine for Hodl in the long run and I'm not denying it, but the mental attack from panicking because I've put money into bitcoin at one time, might make me sleep and eat uneasy if the market goes down. worse than the purchase price, therefore I prefer DCA as an alternative to buying Bitcoin besides that we have the opportunity to get DIP prices when using the DCA strategy.