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    Author Topic: Buy the DIP, and HODL!  (Read 192014 times)
    JayJuanGee
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    April 25, 2021, 06:03:07 PM
     #901

    Buy the dip, and HODL! You do not want to end up empty handed on the next cycle

    I am talking to different people lately since I have posted a crypto related on my social media. I did not think that most of friends now are already familiar in crypto but only in trading. They did not knew this forum.
    Anyway, I kept telling each of them to buy since the market is red. I know in myself I was only joking but one of them told me no. I will not buy yet. The market seems to be bearish. I come up with one thing about him. Even the market is down, he still needs timing to buy. He will wait the start of bullish market so he will not wait long or hold to gain profit. I am not sure how effective this but I think it is good if you can really read price directions.

    First of all, fuck crypto.  We are not talking about crypto here.  We are talking about bitcoin.

    if you want to talk about bitcoin, then it is way better to be using that term.  If you want to talk about crypto, then way better to take that amorphous bullshit talk to some other thread.

    Surely there are guys who might end up doing quite well, even if they are not exactly in agreement regarding whether the BTC price dip is enough or not, and surely some peeps rely on signs that the market is recovering before they start buying.

    I personally do not believe in that philosophy, and the theme of this thread (buy every dip) does not seem to be asserting anything like that kind of philosophy either.

    Of course, each of us might come to variations in regards to how much dip we might need and also how much value we might ascribe to dollar cost averaging buying - which has also proven to be a very sound approach to buying bitcoin, and not waiting around too long by lame-ass attempts to try to time the market which just ends up causing your to fuck around too long without acquiring a decently sized stash when the BTC price goes shooting upwardly unexpectedly and never comes back down.. which has happened numerous times in bitcoin's history - and I would not rule out such future exponentially UPpity unexpected explosions in BTC price that end up NOT coming back down in any kind of reasonable and meaningful way. 

    Take the many screwballs who sold around the previous ATH of $20k, and surely I was suggesting not to be selling much if any coins between $17,500 and $23,5000, and it ends up that even I was way too conservative because in the end, if you think about the matter, retroactively thinking we did not spend too much time in the $17k to sub $40k territory.. and many people were trying to time it and buy back and blah blah blah.. that surely did not end up working out too well.. and we have many examples like that in bitcoin's history.

    Another aspect is the need to consider how much of a stake that you might have in bitcoin and whether you are adequately prepared for UPpity.. even if you might have a lot of opportunities to buy at various prices between $40k and $65k, it may still hardly make a difference at what end of the range you end up buying, in the event that you are already inadequately allocated into bitcoin. 

    Of course if you have a target to start out your BTC investment to be something like 1% to 10% of your total investment portfolio, and you have already achieved your personal target, then at that point you are surely going to have more flexibility in terms of waiting out further dips, and I personally have put a decent amount of value to just buying on an ongoing basis (aka DCAing), but of course, none of us are forced to rely on one strategy and we can employ a combination of strategies in order to feel that we are adequately preparing ourselves for either price directions... and the three strategies that I find most useful is 1) DCA, 2) buying on dip and 3) lump sum buying, and I believe that any BTC accumulation strategy would be inadequate if it does not at least attempt to consider and employ all three of the strategies.

    Personally, I consider the HODL strategy coming into play in a variety of ways, including if there might be cashflow shortages, and frequently it is going to be better to just HODL through such periods rather than something like selling or some other form(s) of gambling with the BTC that you have already acquired (assuming that you have acquired some, at some point).

    1) Self-Custody is a right.  Resist being labelled as: "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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