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    Author Topic: Buy the DIP, and HODL!  (Read 195358 times)
    Troytech
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    March 24, 2024, 05:50:09 PM
     #7141

    So far as life is concerned everyone needs to prepare their future on time and the best way is to learn a good investment practices that will stand as a relief at a time when we won't have the strength to work much again because that is what will smoothen our financial position in the near future and we should do away with the fear of failure and be very positive as well apply the best investment strategy that will enable us to become successful investors. Investments are attached with risks but the risks are minimal more especially when we invest in Bitcoin because you don't need to be disturbed about your investment as all you need do is just to keep your investment goals alive by accumulating more at every time there is a dip in the price of Bitcoin.

    I've read some other comments in the thread and what your saying seems quite contradictory, I don't think the dip is the only time we should accumulate bitcoin since we are using the DCA method that involves buying at intervals and helps reduce the impact of market volatility on our portfolio, besides those who buy only at dips would miss out on all other times to buy.

    I think it's far better to buy eventide with DCA cause trying to time the market is the same as trading cause you might never buy If you keep on waiting for the dip especially as a new investors that needs to take more action than wait.
    You are right, if a hot news is printed, there can be many comments for and against it. In this way, the essence of this topic can be extracted, which is very helpful for investors, especially for beginners. Newbies who are interested in buying Bitcoin can easily invest in Dollar Cost Averaging (DCA) as I find Dollar Cost Averaging to be the safest. For holding you need to have a lot of money which may not be available to everyone, in this case dollar cost averaging(DCA) can be best for you. Many investors waste a lot of time buying dips, in this the time if they can buy bitcoin by dollar cost averaging (DCA) daily. Then dollar cost averaging (DCA) would be more profitable than buying the dips.



    IMO you even have far more little understanding about what you saying, we don't invest in DCA but rather using DCA as a method to accumulate bitcoin, one of the reasons we use this is because it protects from market volatility and it is easy for any newbie an new investor to use cause it doesn't involve any analysis of the market or trying to time the market, its just pure action which is consistently buying bitcoin at a weekly or monthly interval from your discretionary income which is a whole other topic I'm yet to completely figure out myself.

    Buying on dips is not a bad strategy but when your only buying on dips it becomes bad cause you miss out on other opportunities to buy bitcoin, and yeah as a newbie you should be more concerned about taking actions than waiting on dips cause it could lead to procrastination and there is nothing more important to a new investor than taking action, you can add other strategies or keep money for buying on dips so you won't miss out on such good opportunities to buy bitcoin.

    It takes time to figure a lot of things out and many if us here are still very early including me, so I think it's better to start accumulating bitcoin now than wait for any dip.

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