Buy the DIP, and HODL!

[JayJuanGee]

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).

[1715136687]

1715136687

[Wind_FURY]

Shower thought, maybe some smart billionaires are waiting for the Taproot upgrade to activate before bidding to purchase Bitcoin. Are they expecting another “drama” for the soft fork? Only 36.61% of signalling blocks, https://taproot.watch/

Might need another fierce community campaign for another UASF?

[ubercool]

It looks like this is the trend in BTC right now, everyone is just waiting for a dip and enter as soon as they feel btc has hit the support level. It'll be a foolish thing to sell at this moment even though many planned to sell when the price was below 20000$.
The accumulation and the rally in the Bitcoin shows that investors want to hold right now and will buy in every dip.

[Wind_FURY]

It looks like this is the trend in BTC right now, everyone is just waiting for a dip and enter as soon as they feel btc has hit the support level. It'll be a foolish thing to sell at this moment even though many planned to sell when the price was below 20000$.

Zoom out whenever the word “SELL” enters your mind. Bitcoin has been on a super bull cycle since 2011. Don’t listen to the forum trolls, negative news, nocoiners and toxic anti-Bitcoin people.

The accumulation and the rally in the Bitcoin shows that investors want to hold right now and will buy in every dip.

Indeed, but as plebs we should find better bids of entry, which can only be found during “super corrections”. It would be better for our mental health.

[JayJuanGee]

It looks like this is the trend in BTC right now, everyone is just waiting for a dip and enter as soon as they feel btc has hit the support level. It'll be a foolish thing to sell at this moment even though many planned to sell when the price was below 20000$.

Zoom out whenever the word “SELL” enters your mind. Bitcoin has been on a super bull cycle since 2011. Don’t listen to the forum trolls, negative news, nocoiners and toxic anti-Bitcoin people.

The accumulation and the rally in the Bitcoin shows that investors want to hold right now and will buy in every dip.

Indeed, but as plebs we should find better bids of entry, which can only be found during “super corrections”. It would be better for our mental health.

Well, as plebs, we have been very lucky to have had bitcoin as an investment opportunity, and frequently there are a lot of real difficulties to enter into investments without having a lot of capital beforehand.

Bitcoin has really allowed plebs to be able to figure out their budgets and then just enter at whatever level is comfortable for them whether that is $5 per week or some other modest amount.  Even $100 a week might not be a lot these days given the amount of money printing going on, but at the same time, historically, plebs had difficulties being able to enter into investments at their own paces, and surely we know if plebs spend enough time investing into bitcoin, they will be able to build a base, and there are good odds that bitcoin will continue to outperform any other investments.  

In recent months, I have been meeting with quite a few people in real life and talking about bitcoin, and they just seem so god damned ongoingly distracted by either wanting to get into shitcoins or gambling in other ways with their bitcoin approach.  I frequently suggest the same thing, including getting started right away.. and don't get distracted by shitcoins.

So, any pleb, who ends up attempting to restrain themselves a bit more and at least get started with bitcoin, and even study along the way, will likely profit quite well in the coming years, including our dip from today down to $45,700-ish.... Sure, if you already have your bitcoin related accounts set up (or your ways to get bitcoin exposure), you have some money in the accounts, and perhaps you have some kinds of plans to buy in various scenarios, including buying on dips, today's dip (within the past six hours at the time of this post) seems to have been a pretty decent buying opportunity - and sure, none of us know if it is going to dip more or not.. even though we have seen BTC prices bouncing around between about $42k-ish and $65k-ish for the past 3.5 months, and even looking at those past 3.5 months the BTC price trend does continue to appear to be UPpity inclined... time will tell.

[electronicash]

hodling is stressful at some point when its the only money you have. the moment it dips because of elon's tweet, i was about to reply how fuckedup his brain.

time will tell. i actually converted my ETH at $52000 last week and i thought it was the dippest it could get before it goes back up to $64 again and break out. heck this analysis of mine isn't as sharp as i thought. i didn't see how it goes below $47k today, if i was just watching the chart i could have panicked already. but okay I'm gonna hold. 

[JayJuanGee]

hodling is stressful at some point when its the only money you have. the moment it dips because of elon's tweet, i was about to reply how fuckedup his brain.

time will tell. i actually converted my ETH at $52000 last week and i thought it was the dippest it could get before it goes back up to $64 again and break out. heck this analysis of mine isn't as sharp as i thought. i didn't see how it goes below $47k today, if i was just watching the chart i could have panicked already. but okay I'm gonna hold. 

Ultimately, you have to figure out some kind of system that is comfortable for you.

I frequently suggest for peeps to prepare for a wide variety of scenarios of UP, DOWN and sideways, and if you are over invested in UP, then you can really get your self in a pickle if it goes down further and longer than you expected.

I will agree with you that it can be difficult, and I will also agree that it is probably the most difficult while you are in accumulation (and perhaps not even in a profitable stage).  My bitcoins were largely not profitable for my first three years in bitcoin between late 2013 and early to mid 2017.... Surely, there was a decent amount of Upwards price movements that happened in 2016 and 2017, but even in March 2017, there were dips below $1,000 that caused peeps to proclaim that "for sure" that we were revisiting $500, which never ended up happening, but at the time, we could not really know, but any of us investing into bitcoin needed to be prepared financially and psychologically in the event that scenario were to play out  - and maybe without betting too much in either direction, even though we can know only after the fact that UP played out and Down did not.

[Wind_FURY]

It looks like this is the trend in BTC right now, everyone is just waiting for a dip and enter as soon as they feel btc has hit the support level. It'll be a foolish thing to sell at this moment even though many planned to sell when the price was below 20000$.

Zoom out whenever the word “SELL” enters your mind. Bitcoin has been on a super bull cycle since 2011. Don’t listen to the forum trolls, negative news, nocoiners and toxic anti-Bitcoin people.

The accumulation and the rally in the Bitcoin shows that investors want to hold right now and will buy in every dip.

Indeed, but as plebs we should find better bids of entry, which can only be found during “super corrections”. It would be better for our mental health.

In recent months, I have been meeting with quite a few people in real life and talking about bitcoin, and they just seem so god damned ongoingly distracted by either wanting to get into shitcoins or gambling in other ways with their bitcoin approach.  I frequently suggest the same thing, including getting started right away.. and don't get distracted by shitcoins.

Let them. But the fact that many people, respected people, are coming around and finding cryptocurrencies to be a fall back/back up in case the the financial system fails is definitely bullish. I believe the more they learn, they throw all shitcoins, and HODL Bitcoin.

https://twitter.com/squawkcnbc/status/1392093978812633088

"5-6 years ago I said #crypto was a solution in search of a problem," says Stan Druckenmiller. "The problem has been clearly identified. It is Jerome Powell and the rest of the world's central bankers. There is a lack of trust."

That’s from one of the most respected investors. He finally understands what we understood. He’s not into Bitcoin now, but I’m confident that he will be.

[STT]

It looks like this is the trend in BTC right now, everyone is just waiting for a dip 

I'm kinda wary of these words, its close to crowded trade which is something to avoid because of over speculation which can result in adverse effects that cause that previously reliable and observable trend to at least reset.   Problem is traders use leverage so when something becomes too popular I think it can get ruined in its reliance, its pretty much a universal rule for open markets and we tend to go in cycles of movement rather then easily move up (or down).
   Just a passing thought anyway, I'm watching moves like anyone else not certain except that dollar index really has some battles ahead of it quite likely.

[JayJuanGee]

It looks like this is the trend in BTC right now, everyone is just waiting for a dip and enter as soon as they feel btc has hit the support level. It'll be a foolish thing to sell at this moment even though many planned to sell when the price was below 20000$.

Zoom out whenever the word “SELL” enters your mind. Bitcoin has been on a super bull cycle since 2011. Don’t listen to the forum trolls, negative news, nocoiners and toxic anti-Bitcoin people.

The accumulation and the rally in the Bitcoin shows that investors want to hold right now and will buy in every dip.

Indeed, but as plebs we should find better bids of entry, which can only be found during “super corrections”. It would be better for our mental health.

In recent months, I have been meeting with quite a few people in real life and talking about bitcoin, and they just seem so god damned ongoingly distracted by either wanting to get into shitcoins or gambling in other ways with their bitcoin approach.  I frequently suggest the same thing, including getting started right away.. and don't get distracted by shitcoins.

Let them.

I think that I am attempting to be descriptive rather than prescriptive, even though I do have my own tendencies to denigrate the tendencies of people to gamble, to buy into the shitcoin talking points and to get distracted by shitcoin pumpenings.  There is a certain level of desire to get rich quick, and then if they see that there could be abilities to put small amounts of money to get large percentages of returns, these kinds of folks will subsequently conclude that they it may well be a good idea to put large amounts of money in order to magnify their returns.

I realize that there is likely NOT a whole hell of a lot that I can do about these matters, but you never know too in terms of attempting to help some people to learn about their self-sabotaging tendencies to be able to learn - at least on the margins to NOT take so many risks with their investments.. to treat their investments like investments rather than like gambling.

So accordingly, some of my real life conversations have caused quite a bit of frustration for me because even some basic principles do not seem to sink in for people, even though I have tendencies to repeat myself over and over and then when they say something about how they interpret a potential plan forward, it seems that little to nothing has sunk in their noggens.. and surely people learn way better when they can experience some matters for themselves, and even with the dumb stubborn fucks (who happen to be friends and relatives) with whom I speak in real life, happen to at least just start to get involved early by setting up some accounts and maybe attempting to control themselves to a wee bit of degree, maybe they will not get too reckt, learn along the way and be able to profit in the longer run by at least attempting to put some level of priority to bitcoin accumulation rather than focusing too much on short term dollar denominated profits or losses.. a work in process and probably gambling tendencies and doubts about bitcoin that are NOT going to go away anytime soon.

But the fact that many people, respected people, are coming around and finding cryptocurrencies to be a fall back/back up in case the the financial system fails is definitely bullish. I believe the more they learn, they throw all shitcoins, and HODL Bitcoin.

Yes.. surely, I see this tendency too, which does provide some hope that at least smart people might realize the bullish case for bitcoin, so the information has always been there and there seems to be some even more compelling kinds of evidence in recent times - even though normies still have tendencies to misread and even fail/refuse to recognize and appreciate some of the bullish information and to act accordingly without getting distracted into shitcoins which may well include valuing their wealth too much in that shitcoin known as dollars which will also cause them to sell too much bitcoin too soon or fail/refuse to buy bitcoin because they are too greedy in their waiting for a dip that might not happen... or failing/refusing to act upon a dip that just happened... I.e our lil dippening to $45,700.

https://twitter.com/squawkcnbc/status/1392093978812633088

"5-6 years ago I said #crypto was a solution in search of a problem," says Stan Druckenmiller. "The problem has been clearly identified. It is Jerome Powell and the rest of the world's central bankers. There is a lack of trust."

That’s from one of the most respected investors. He finally understands what we understood. He’s not into Bitcoin now, but I’m confident that he will be.

Of course, there are peeps coming around, on the cusp of investing into bitcoin, and even making decently smart statements that should be helpful for normies to recognize and realize both the bullish case for bitcoin and the prudency of taking actions to ensure long term investment plans into bitcoin including getting started, getting a stake,  setting accumulation targets, and acting on their plans, even if their budgets might only allow them to inject modest amounts into bitcoin until perhaps they get their finances in order, which is another problem that normies tend to devolve into... if you cannot get some of your cashflow in order to be able to keep up with expenses, then it might become even more difficult to set aside a bit of the cashflow for investing and recognizing NOT to over do it until getting ones cashflow in order.

It looks like this is the trend in BTC right now, everyone is just waiting for a dip  

I'm kinda wary of these words, its close to crowded trade which is something to avoid because of over speculation which can result in adverse effects that cause that previously reliable and observable trend to at least reset.   Problem is traders use leverage so when something becomes too popular I think it can get ruined in its reliance, its pretty much a universal rule for open markets and we tend to go in cycles of movement rather then easily move up (or down).
   Just a passing thought anyway, I'm watching moves like anyone else not certain except that dollar index really has some battles ahead of it quite likely.

These are some justifications that I attempt to suggest that buying on dips also need to be accompanied by DCA practices.  So for example if any normie realizes that he has $1,200 extra in his cashflow that he is able to invest into bitcoin, he may well want to spread that investment out over some period of time including using some to buy right away, using some to DCA and using some to buy on dips.  I know that it seems like it is going to cause fees to become too high or to cause too much complication by creating a lot of small amounts to put in different categories, but I would suggest that the longer that normies practice with these kinds of managements of their cashflow, the easier it becomes, so getting another $1,200 in cashflow that can be allocated to BTC investing ends up getting added to some kind of BTC fund that should already exist and then maybe some of the money has self-created and self-directed timelines such as weekly or monthly that it should be invested which should take away some of the "wait and see" aspect that may well cause some people to be waiting too much for dips that might not happen or kicking themselves when dips happen after already buying decent chunks or using their (weekly, or whatever) allocation of cash to buy bitcoin.

[Wind_FURY]

There are also many people who invest in shitcoins are those in the search for the “better Bitcoin”, because they think that Bitcoin is already an obsolete “boomer coin”. I honestly had the same experience plus the desire to get rich quick, but learned the hard way. Hahaha.

[Kong Hey Pakboy]

There are also many people who invest in shitcoins are those in the search for the “better Bitcoin”, because they think that Bitcoin is already an obsolete “boomer coin”. I honestly had the same experience plus the desire to get rich quick, but learned the hard way. Hahaha.

People who wants to get rich quick are the ones that don't get rich, I have learned that from some old people in my place and with those words to guide, I know which things to avoid in terms of making money. The current price is a good time buy some bitcoin right now that people are still irrationally mad about Elon pulling the bitcoin payment for Tesla out.

[Wind_FURY]

$50,000 is the new $10,000. I believe the market is simply waiting for the soft fork for the Taproot upgrade before resuming back to the surge going to 6 digits. The soft fork might not go as smoothly as expected in my opinion. Some mining pools are not signalling for it, but hopefully during the next coming weeks.

[JayJuanGee]

$50,000 is the new $10,000.

Ok.. whatever with repeating such numerology nonsense... which seems already untrue.. since if you recall the first time that BTC passed through $10k, it corrected quickly for a week or two and then it doubled in a short period of time, corrected back down to $10k and revisited $10k several times - to the extent even significant beyond coincidence.. and golly gee whiz probably one of the ONLY ways that $50k could become something like the old $10k would be if we might get a quick doubling from here (and our stagnation around $50k for about 3 months also seems to negate such thesis regarding the significance of $50k currently.... but whatevers)....

Another thing you had already proclaimed we are never going below $50k again.. wasn't that in March-ish..

And another thing (I am having trouble running out of things in regards to your level of nonsense Wind_FURY... thanks for making so much funzies, at least for me.)...   I am having some troubles (in playing with your this is like $10k bullshit) inferring that either the top of this particular cycle would be $100k-ish or that our subsequent correction would be going below $50k for any significant amount of time.. sure it may well go below $50k but it seems quite fucking more likely that our current $50k is more like either $3k or like $5k.. and kind of leaning towards the former.. but I don't really proclaim to know very much except for getting feelings for attempting to incorporate aspects of the various convincing BTC price prediction models into my thinking in terms of attempting to figure out where we might be in the current cycle, and where we may well be going based on where we are at.. which surely is far from guaranteed too, but seems to bring way better conclusions than just throwing out some random number and claiming it is like some other random number and the facts and logic do not really line up including the seeming failure / refusal to adequately account for our current credible BTC price prediction models.

I believe the market is simply waiting for the soft fork for the Taproot upgrade before resuming back to the surge going to 6 digits.

Not really sure if that would be a necessary condition, but such resolution could have some parallels to the 2017 softfork and various battles, even though these current battles in regards to Taproot (to the extent that you might want to exaggerate them) seem like mostly a BIG nothing burger even if you and other peeps seem inclined to draw parallels.. which is not completely illogical, but does seem to have some considerable differences, as well... and whether the market knows or gives any shits about Taproot seems to be a bit of speculation regarding supposed importance of a seemingly somewhat obscure concept.. that even many of longer term bitcoiners are not too enthusiastic about whether it goes through or not and/or what it might mean.. blah blah blah.. even though I will concede that there seems to be considerable overwhelming consensus that it would be a good thing for bitcoin to go through, even though the signaling of the miners seem to be dragging out longer than what such supposed consensus and preference for taproot would suggest.. including maybe that some miners need to just move their shit over to pools that are signaling for taproot rather than supporting miners that are not.

The soft fork might not go as smoothly as expected in my opinion.

Your seeming desire for drama on this topic has been pointed out in another thread.. and I am starting to see that as well... but whatever, we are each allowed to have our opinions and theories, even if they might seem to be attempting to stir shit up rather than pointing out real material or concerning dynamics.

Some mining pools are not signalling for it, but hopefully during the next coming weeks.

You seem to be exaggerating Wind_FURY... .. sure some miner pools are not signaling for it but we are still ONLY into the second difficulty period in which this is being measured..

I think that the general trend is UP in terms of signaling.. and as I type, there is so far 63.69% for this period, and of course, there needs to have 90% reached, but the movement of signaling does seem to be slowly increasing.. even though you want to identify negativity in this.. which also seems quite premature.. even if the 90% for quick update is never achieved and the taproot matter has to be readdressed through another way.  Does not seem to be the end of the world nor even as dramatic or dire as you want to ascribe to such happenings, including that so far, there has NOT really been any objections to it from anyone of importance.. and maybe just exaggeration of the significance of it from bitcoin haters or shitcoin pumpers blah blah blah.. hopefully you are not one of them, Wind_FURY merely because you are employing similar kinds of exaggerated and seemingly drama-based talking points.

[Wind_FURY]

$50,000 is the new $10,000.

Ok.. whatever with repeating such numerology nonsense... which seems already untrue..

It’s a joke. When Bitcoin was $10,000 last year, and went over, everyone on Twitter was tweeting “Bitcoin will never trade below $10,000 ever again”, which of course it did a few times before surging to ATH.

And another thing (I am having trouble running out of things in regards to your level of nonsense Wind_FURY... thanks for making so much funzies, at least for me.)...   I am having some troubles (in playing with your this is like $10k bullshit) inferring that either the top of this particular cycle would be $100k-ish or that our subsequent correction would be going below $50k for any significant amount of time.. sure it may well go below $50k but it seems quite fucking more likely that our current $50k is more like either $3k or like $5k.. and kind of leaning towards the former.. but I don't really proclaim to know very much except for getting feelings for attempting to incorporate aspects of the various convincing BTC price prediction models into my thinking in terms of attempting to figure out where we might be in the current cycle, and where we may well be going based on where we are at.. which surely is far from guaranteed too, but seems to bring way better conclusions than just throwing out some random number and claiming it is like some other random number and the facts and logic do not really line up including the seeming failure / refusal to adequately account for our current credible BTC price prediction models.

I respect your opinions, in fact, I learn from them.

I believe the market is simply waiting for the soft fork for the Taproot upgrade before resuming back to the surge going to 6 digits.

Not really sure if that would be a necessary condition, but such resolution could have some parallels to the 2017 softfork and various battles, even though these current battles in regards to Taproot (to the extent that you might want to exaggerate them) seem like mostly a BIG nothing burger even if you and other peeps seem inclined to draw parallels.. which is not completely illogical, but does seem to have some considerable differences, as well... and whether the market knows or gives any shits about Taproot seems to be a bit of speculation regarding supposed importance of a seemingly somewhat obscure concept.. that even many of longer term bitcoiners are not too enthusiastic about whether it goes through or not and/or what it might mean.. blah blah blah.. even though I will concede that there seems to be considerable overwhelming consensus that it would be a good thing for bitcoin to go through, even though the signaling of the miners seem to be dragging out longer than what such supposed consensus and preference for taproot would suggest.. including maybe that some miners need to just move their shit over to pools that are signaling for taproot rather than supporting miners that are not.

The soft fork might not go as smoothly as expected in my opinion.

Your seeming desire for drama on this topic has been pointed out in another thread.. and I am starting to see that as well... but whatever, we are each allowed to have our opinions and theories, even if they might seem to be attempting to stir shit up rather than pointing out real material or concerning dynamics.

Some mining pools are not signalling for it, but hopefully during the next coming weeks.

You seem to be exaggerating Wind_FURY... .. sure some miner pools are not signaling for it but we are still ONLY into the second difficulty period in which this is being measured..

I think that the general trend is UP in terms of signaling.. and as I type, there is so far 63.69% for this period, and of course, there needs to have 90% reached, but the movement of signaling does seem to be slowly increasing.. even though you want to identify negativity in this.. which also seems quite premature.. even if the 90% for quick update is never achieved and the taproot matter has to be readdressed through another way.  Does not seem to be the end of the world nor even as dramatic or dire as you want to ascribe to such happenings, including that so far, there has NOT really been any objections to it from anyone of importance.. and maybe just exaggeration of the significance of it from bitcoin haters or shitcoin pumpers blah blah blah.. hopefully you are not one of them, Wind_FURY merely because you are employing similar kinds of exaggerated and seemingly drama-based talking points.

The exaggeration, and the “search for drama”, I believe can be blamed on reading of too many of LukeDashjr’s tweets about the issue. Hahaha. But you’re right, it’s currently a cooperative scenario.

[Wind_FURY]

One of my closest friends called me to ask if the crash was the end of the current bull cycle. I told him, “It’s very painful, but I don’t know”, BUT I also told him that if it’s truly the end, then he should work hard and save for the next 4 years to get in the next golden opportunity.

[JayJuanGee]

One of my closest friends called me to ask if the crash was the end of the current bull cycle. I told him, “It’s very painful, but I don’t know”, BUT I also told him that if it’s truly the end, then he should work hard and save for the next 4 years to get in the next golden opportunity.

So in regards to this friend.... does he own any bitcoin?

I would say buy the dip or continue with your dollar cost averaging, and if you have not gotten into bitcoin yet, get the fuck in.

Of course, overall you are correct, and we do not know if the top is in with the $64,895 that was reached on April 13..   To me, it seems very doubtful that that is the end of the BTC run for this cycle, but it surely remains possible that we could have a bit of a pause here that lasts a few months or maybe even 9 months or so.. and then resumption of the UPpity.. and of course none of that is guaranteed including that we might not get past $64,895 for another 3-5 years (and that seems doubtful scenario to me in terms of the end of UPpity until then.. but any of us HODLers and accumulators of bitcoin need to be mentally and financially prepared for a variety of scenarios, including the less likely scenarios.

So in the end?  what should your friend do?  Partly depends on his own situation and if he has already reached his BTC accumulation target.. then he could either be in a maintenance stage or a liquidation stage.. but if his timeline is longer than 4 years, then he should not necessarily be in a liquidation stage.. but hey depends in part on particulars, too.

I know Wind_FURY (I am razzing you a bit), that you are reluctant to proclaim that peeps should be engaging in DCA buying on a regular basis, yet I continue to believe that DCA remains a great frame work.. and sure they have to keep in mind that there might be considerable more additional dip (even though it seems that we are currently in a bull market), and if we end up converting into a bear market our dip could get into the sub $20k territory.. perhaps?  perhaps? 

Anyone who ONLY thinks about DOWN scenarios in times like these is likely going to miss opportunities for accumulating BTC and sufficiently and adequately preparing for UP.. at least in my humble bumble opinion.

[JayJuanGee]

I think that now is not the best time to buy bitcoin, even for the purpose of accumulation... It is better to forget about cryptocurrency for a while and come back in a month or two... Well, if you want to buy, you can place orders about 30-32K...

First, we are not talking about crypto here.. we are talking about bitcoin.. so just to clarify that angle and a sometimes ambiguity that can come from your use of such crypto term.

Second, buying on dips is only one component of figuring out how are you going to get a stake into bitcoin, so if you wait until $30k to $32k you may well never have that number reached, and sure of course, where someone is at can make a pretty BIG difference in considerations.

Third, dollar cost average method is a very solid method that buys at any price on a regular basis (I personally recommend at least weekly but budgets and purchase locations might affect those intervals) with an assumption that there is nearly no way to know where the price of an asset is going to go (especially BTC), so in that regard, you are being quite presumptuous 3meek to suggest that you know much of anything about BTC price direction.. especially in the short to medium term.. including that we are still likely in a bull market.. whether you believe it or no.

Fourth, I personally employed front loading investment, buying on dip and DCA averaging to get my initial stake in bitcoin in 2013, 2014, and 2015 and I believe that it worked out very well because even though some people claim they knew what was going to happen when BTC prices went down from $1,163 to $200-ish from 2013 to 2014 and largely get stuck in the mid $250s for the vast majority of 2015, this was not really known with any certainty, even though after the fact a person can look back and feel all kinds of self-righteous confidence about should have waited and bought on dips blah blah blah.. and some of those folks who waited did not get in or were too BIG of pussies in regards to trying to time the market and/or failing refusing to take any kind of meaningful stake into BTC.

Fifth, I have seen time after time during the bullrun of late 2015 to late 2017 that peeps were scared to buy the dip on several occasions, got scared from some of the various dips along the way, thought the BTC price was going lower, and ended up waiting too god-damned long, failed/refused to be sufficiently aggressive about their BTC investment, and sometimes especially ends up happening after a BIG dip and then waiting for another 20-40% dip that does not happen... and ultimately too greedy or too preoccupied about trying to be too smart in their attempt to time the market when they should have just bought.. saw it over and over..

Sixth.. this time is different.. who knows?  We have pretty decent currently valid BTC price prediction models that are not broken and we do not seem to be in a bear market, so if you consider that you know better, then so be it.. maybe you will be right.. maybe not....,.

Seven, if you have absolutely no stake in bitcoin, this is a great time to get the fuck in..  Just like $64k was.. so start out by thinking about 1% to 10% and tailor to your own situation.. and you are responsible for your own situation and your own investment approach.. there is a lot of information out there...some of it better than others.

[rahmatrf331]

I think that now is not the best time to buy bitcoin, even for the purpose of accumulation... It is better to forget about cryptocurrency for a while and come back in a month or two... Well, if you want to buy, you can place orders about 30-32K...

Are you very sure the cycle will reach $ 32k or more precisely this cycle has stopped at a lower level.

 maybe the cycle will start spinning back upwards of $ 45k.

I prefer to think it's time to buy a lot of sauce and then hold it for a period of time.

[Dr.Osh]

I think that now is not the best time to buy bitcoin, even for the purpose of accumulation... It is better to forget about cryptocurrency for a while and come back in a month or two... Well, if you want to buy, you can place orders about 30-32K...

Are you very sure the cycle will reach $ 32k or more precisely this cycle has stopped at a lower level.

 maybe the cycle will start spinning back upwards of $ 45k.

I prefer to think it's time to buy a lot of sauce and then hold it for a period of time.

don't be too pessimistic. bitcoin price may drop below $ 40k, but I'm pretty sure there will be a rise after this. well, maybe a lot of factors are supporting the decline in bitcoin price like Elon Musk, or China, but I'm pretty sure the price won't drop more than $ 35k this year. Well, right now I still hope the price goes back up to $ 45k, before going up to $ 55k again.