Buy the DIP, and HODL!

[Dr.Bitcoin_Strange]

I was impressed by your statement above "keep buying BTC and revalue your position in 3-5 years from now" and yes. I think the DCA investment model should continue. Well, I want to know. Can Bitcoin get back $34,000 by the end of September 2023?

I think it is very difficult to see the price of bitcoin reaching $34,000 in the remainder of this month and even in the next month it is not certain that the price of bitcoin will reach above $30,000 if you look at current market conditions which seem likely to continue to experience a decline in prices. In conditions like today, it is better to set your goals, make a solid plan, maintain discipline, and utilize DCA as a way to gain interesting and dynamic exposure in a more controlled and insightful way. Stick to your plan, regardless of market conditions. Don't be tempted to skip investments or change your amounts if the market is unfavorable. The point is to remove emotion from investing.

Already, we know that the Bitcoin price is very dynamic, and it is not easy to accurately predict the price of Bitcoin in a week or month time because there are some factors that contribute to price spikes, and you can't really tell what will happen next month. About a week ago, Bitcoin went from $25k+ to $27k just in an interval of hours. That's to say that the volatility of Bitcoin can be very strong at times depending on what's causing the price to rise, and it's not very difficult for Bitcoin to go from $25k to $30k.

[1714666237]

1714666237

[1714666237]

1714666237

[1714666237]

1714666237

[1714666237]

1714666237

[1714666237]

1714666237

[woez]

I was impressed by your statement above "keep buying BTC and revalue your position in 3-5 years from now" and yes. I think the DCA investment model should continue. Well, I want to know. Can Bitcoin get back $34,000 by the end of September 2023?

I think it is very difficult to see the price of bitcoin reaching $34,000 in the remainder of this month and even in the next month it is not certain that the price of bitcoin will reach above $30,000 if you look at current market conditions which seem likely to continue to experience a decline in prices. In conditions like today, it is better to set your goals, make a solid plan, maintain discipline, and utilize DCA as a way to gain interesting and dynamic exposure in a more controlled and insightful way. Stick to your plan, regardless of market conditions. Don't be tempted to skip investments or change your amounts if the market is unfavorable. The point is to remove emotion from investing.

Already, we know that the Bitcoin price is very dynamic, and it is not easy to accurately predict the price of Bitcoin in a week or month time because there are some factors that contribute to price spikes, and you can't really tell what will happen next month. About a week ago, Bitcoin went from $25k+ to $27k just in an interval of hours. That's to say that the volatility of Bitcoin can be very strong at times depending on what's causing the price to rise, and it's not very difficult for Bitcoin to go from $25k to $30k.

...and sometimes I also think there seems to be something strange if I see a spike in Bitcoin prices in a short time born without notice and unexpectedly and that often happens if I pay attention some time ago to what the main driver is. Can someone explain briefly and clearly even though we know that volatility is a common thing in the market and that is also a moment that can be exploited in the process of purchasing the DCA model by many BTC buyers.

[xvacator]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

[Dickiy]

Of course, we have individual discretion in terms of how much we might need to set aside for our BTC purchases, and even putting aside $10 week could cause people to suffer in a variety of ways, and some things might be easier to suffer through than others.

Yeah of course we have individual choices to decide on how much they are willing to set out for Bitcoin accumulation because is wise for people to invest based on there capital size which is one of the things to be consider, when we talk about investing $10 $20 weekly, it depends on what an individuals salary is because there are some persons investing $5 on a weekly basis can easily affect them at that point based on there salary intake, but perhaps in a case like that the person could program himself in a way that after all there expenditures and if they are still left with some funds and could take them throughout the coming month perhaps since the funds remaining on the reserve account is still enough they can strategize by channeling the next salary in accumulation were as they have a reserve funds that can sustain them to another month, using that method it could actually help someone that earn less salary to be able to accumulate some Bitcoin.

Well and that choice is up to each individual, because only they know about how much money they should allocate to investing, and of course that will still make them okay. Honestly, I hope you won't decide to go overboard with your investments, for example by allocating 50% of your salary. I understand maybe you are very excited to get bigger results, but believe me this is not a good way, but I say this if indeed your finances are not very good then you are desperate to allocate half of your salary for bitcoin, because before starting we must understand that there is also a huge risk there. So we really need to think about making the right decisions, allocating money that you have full responsibility for if it is lost due to fluctuations that occur which are certainly beyond your ability.

Right, the point is always to use your best way of dividing finances from your monthly salary income, if indeed you have unused leftovers then you can allocate them to bitcoin, but still don't let any pressure you feel, the point is not to feel forced and also certainly don't bring greed in terms of investment, the key is how to keep your life going but also by allocating a little of your money to bitcoin, and the key is that I hope you can continue to be consistent.

[Salahmu]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

[salad daging]

Of course, we invest in the amount of money that we can afford to lose. The number of money depends on each person, it may be not the same between one person and another person. Each person has a different level of economic, it is depending on the profession or the income to get monthly.

It is necessary to manage finances well so that you can allocate appropriately for bitcoin, otherwise this will be a bit of an obstacle because you never take into account other needs, or you can prioritize other needs when there is still money left over that can be invested in bitcoin by means of the DCA method.

Of course each of us is different in terms of the finances we get, but if you are able to do wisely everything will run smoothly even though there are always a few obstacles but that's not a big problem, the most important thing is that DCA continues every week or month.

Sure, DCA is an effective strategy to do, it helps us to multiply the number of our assets. If we can add $30-$50 in every decline, it will make bigger potential profits in the future.

If you buy bitcoin by decreasing it is not DCA, because DCA at any price when the money is ready, you have to buy it up or down because it is based on the average price.

[JayJuanGee]

Of course, we have individual discretion in terms of how much we might need to set aside for our BTC purchases, and even putting aside $10 week could cause people to suffer in a variety of ways, and some things might be easier to suffer through than others.

Yeah of course we have individual choices to decide on how much they are willing to set out for Bitcoin accumulation because is wise for people to invest based on there capital size which is one of the things to be consider, when we talk about investing $10 $20 weekly, it depends on what an individuals salary is because there are some persons investing $5 on a weekly basis can easily affect them at that point based on there salary intake, but perhaps in a case like that the person could program himself in a way that after all there expenditures and if they are still left with some funds and could take them throughout the coming month perhaps since the funds remaining on the reserve account is still enough they can strategize by channeling the next salary in accumulation were as they have a reserve funds that can sustain them to another month, using that method it could actually help someone that earn less salary to be able to accumulate some Bitcoin.

Well and that choice is up to each individual, because only they know about how much money they should allocate to investing, and of course that will still make them okay. Honestly, I hope you won't decide to go overboard with your investments, for example by allocating 50% of your salary. I understand maybe you are very excited to get bigger results, but believe me this is not a good way, but I say this if indeed your finances are not very good then you are desperate to allocate half of your salary for bitcoin, because before starting we must understand that there is also a huge risk there. So we really need to think about making the right decisions, allocating money that you have full responsibility for if it is lost due to fluctuations that occur which are certainly beyond your ability.

Right, the point is always to use your best way of dividing finances from your monthly salary income, if indeed you have unused leftovers then you can allocate them to bitcoin, but still don't let any pressure you feel, the point is not to feel forced and also certainly don't bring greed in terms of investment, the key is how to keep your life going but also by allocating a little of your money to bitcoin, and the key is that I hope you can continue to be consistent.

You seem to be making a decent point, @Dickiy.  There's nothing wrong with being aggressive an/or being overly aggressive as long as you have your expenses covered .. which means that you know that you have your cashflow in order for 3-6 months and an adequate emergency fund that could be for extra kinds of expenses that could come up and are not expected that might include drying up of cashflow and/or increases in expenses for a period fo time that could last 3-6 months or longer..

No bitcoin investor should be putting himself/herself into a position in which s/he could end up losing some of his/her coins at a time that is not chosen.. .so it can take a while to build a bitcoin stash and if you over-do it then you end up losing some of your coins and perhaps being in a worse position because you were trying to be more aggressive than you needed to be and if you had just stacked a wee bit less, then you would not have had ended up losing any coins.

I know that some of the members here like to use the word consistently, and I am not sure if I really like that word, because you can be persistent and continuously making sure that you are investing on an ongoing and regular basis (such as weekly) but there might be some weeks that you are able to invest $100 into BTC and other weeks that you are only able to invest $5, and the part that you were consistent about has to do with your ongoingly monitoring the amount that you are investing so that you are able to be as aggressive that you are able to be in accordance with your budget and your specific situation, but you may or may not end up choosing and/or following any kind of mandate regarding amount that you might end up doing...

And, sure maybe we are saying the same thing but just using different words and differing emphases.

[Wind_FURY]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

Probably not, but I believe most of us plebs are always checking the price at every hour of every day. I wake up in the middle of the night and check the price. Hahaha.

 

But I have a question for all of you who regularly visit this topic. With the high probability of a recession coming in many regions of the world, do you actually believe that Bitcoin will not be affected by the crash of the legacy markets?

Plus if you do believe that a legacy crash will also cause a Bitcoin crash, wouldn't it be a good idea to wait for the DIP?

It doesn't need an answer. It's something for each of us to evaluate in our own "shower thoughts".

[bitzizzix]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

Probably not, but I believe most of us plebs are always checking the price at every hour of every day. I wake up in the middle of the night and check the price. Hahaha.

 

Of course, most people will always pay attention to the market because it is very important to be able to make purchases whenever possible, and the goal is to always keep an eye on the market so as not to miss opportunities at the right time. Especially in the DCA strategy where the market falls suddenly then rises again within a short time so as not to miss the best moment to increase purchases.
and most likely those who do DCA or Dip will have no effect if they always pay attention to the market, because their goal is only long term, no matter if the price goes down or there is no movement. And all they do is keep buying periodically or just dips, and will take advantage of the dips to increase buying and all for the long term.
DCA and Dip don't need to be complicated, because the aim is only to buy periodically, or just when it goes down and hold it for the long term. A very simple way to collect Bitcoins.

[BABY SHOES]

You seem to be making a decent point, @Dickiy.  There's nothing wrong with being aggressive an/or being overly aggressive as long as you have your expenses covered .. which means that you know that you have your cashflow in order for 3-6 months and an adequate emergency fund that could be for extra kinds of expenses that could come up and are not expected that might include drying up of cashflow and/or increases in expenses for a period fo time that could last 3-6 months or longer..

If we are aggressive towards bitcoin by having 3-6 months of reserve funds it will not be an obstacle even if there are sudden expenses later, especially with the cash flow that can be high enough by acting aggressively to increase bitcoin ownership something good too.
Sometimes there are some of them who do not have more than 1 month of reserve funds and only fit for needs and a small allocation for bitcoin so aggressive behavior needs to be avoided.

No bitcoin investor should be putting himself/herself into a position in which s/he could end up losing some of his/her coins at a time that is not chosen.. .so it can take a while to build a bitcoin stash and if you over-do it then you end up losing some of your coins and perhaps being in a worse position because you were trying to be more aggressive than you needed to be and if you had just stacked a wee bit less, then you would not have had ended up losing any coins.

I will not consider losing some coins while not selling coins will not be lost. Overdoing it must be in accordance with the ability otherwise it will become pressure, with consistency it does not need to be just said but needs to be practiced even though sometimes this is more difficult than said.
Our behavior towards bitcoin does not need to be more aggressive even though the goal is good - I just want to be more calm with what is achieved not because of forced aggressive behavior.

I know that some of the members here like to use the word consistently, and I am not sure if I really like that word, because you can be persistent and continuously making sure that you are investing on an ongoing and regular basis (such as weekly) but there might be some weeks that you are able to invest $100 into BTC and other weeks that you are only able to invest $5, and the part that you were consistent about has to do with your ongoingly monitoring the amount that you are investing so that you are able to be as aggressive that you are able to be in accordance with your budget and your specific situation, but you may or may not end up choosing and/or following any kind of mandate regarding amount that you might end up doing...

I'd rather have it on a regular basis than $15 to $100 in a few weeks which is sometimes hard for us so $15-$20 isn't too much pressure but you still have to balance it with other needs even if you have extra funds.

[Roseline492]

But I have a question for all of you who regularly visit this topic. With the high probability of a recession coming in many regions of the world, do you actually believe that Bitcoin will not be affected by the crash of the legacy markets?

Plus if you do believe that a legacy crash will also cause a Bitcoin crash, wouldn't it be a good idea to wait for the DIP?

It doesn't need an answer. It's something for each of us to evaluate in our own "shower thoughts".

In times of knowing if crash in legacy market can affect Bitcoin or not or economic recession, in my own observation economic recession can help increase the demands for Bitcoin were  as most people are not sure or uncertain of what will be the out come of there economy they tend to look for an alternative to store there money and Bitcoin could be the only alternative as such bringing higher demand in Bitcoin.

Also legacy market crash could only affect Bitcoin if there are liquid crisis in the market such as lack of money in the legacy were as it becomes very difficult for investor to buy a large quantity of Bitcoin due to the lack of money on the overall legacy market then it becomes a challenge for Bitcoin.

[xvacator]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

Yes, I've done that until now. I don't care too much about how the price moves, whether it goes down or up, because my goal is to collect more bitcoins for now. And I'm glad I don't check prices on the market or set off alarms too often.

Until now, I can still calmly carry out my plan to collect more bitcoins. And hopefully, it won't affect my psychology unless the price suddenly increases drastically. That would allow me to immediately check the market and perhaps place a sell order.

[EarnOnVictor]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

You perhaps made a very good point as true Bitcoin enthusiasts should not really care about the low or the prevailing condition before they buy as they continue to increase their vault of Bitcoin. But on the other hand, we should rather be more professional than just be a blind investor. Fine, Bitcoin has the prospect to move higher and appreciate in value over time to surpass the current ATH and still give the hodler more return on their investments. Yet, it will not be so bad to earn more when you are more professional in your striking level. Also, based on your insinuation, DCA is a good option, after all, you will not miss out as you strike at different levels/prices, but as much as DCAing is good, you might want to use better approaches that will earn more for you or that will complement the DCAing since there are many approaches to investing in Bitcoin, it's wise to diversify.

What I advise in this regard is to study the market carefully and never buy when the price of Bitcoin is high regardless of your DCA approach. Take the recent event for example, Bitcoin hit almost $27,500 recently, and that was when I knew fresh trouble might start, and you can see what is happening now. Nonetheless, if you are conversant with Fibonacci retracement, you would know decisively in line with the price action that the coin was stopped by the 61.8% 1D Fibo level and a bearish price action below the line pointed to a bullish failure and an activation of a bearish short-term reversal. At this point, a good investor will know what is going on and wait until there is the same condition favouring the bullish trend before buying the coin again. This is wiser than just buying and DCAing without a good reason to back it up.

This was how I was able to know how to deal rightly with my Bitcoin purchase when a similar condition happened in August when Bitcoin moved higher and barely hit above $28,000. It was the same Fibo that played out so well to guide me as 1W Fibo level actually repelled the price of the coin downwards. It's good to make plans this way so that one will not be a blind buyer, and once you buy at a reasonable price, you tend to make more money. So, it's not only about DCAing but DCAing rightly with further guidance like this.

[Ruttoshi]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

You perhaps made a very good point as true Bitcoin enthusiasts should not really care about the low or the prevailing condition before they buy as they continue to increase their vault of Bitcoin. But on the other hand, we should rather be more professional than just be a blind investor. Fine, Bitcoin has the prospect to move higher and appreciate in value over time to surpass the current ATH and still give the hodler more return on their investments. Yet, it will not be so bad to earn more when you are more professional in your striking level. Also, based on your insinuation, DCA is a good option, after all, you will not miss out as you strike at different levels/prices, but as much as DCAing is good, you might want to use better approaches that will earn more for you or that will complement the DCAing since there are many approaches to investing in Bitcoin, it's wise to diversify.

What I advise in this regard is to study the market carefully and never buy when the price of Bitcoin is high regardless of your DCA approach. Take the recent event for example, Bitcoin hit almost $27,500 recently, and that was when I knew fresh trouble might start, and you can see what is happening now. Nonetheless, if you are conversant with Fibonacci retracement, you would know decisively in line with the price action that the coin was stopped by the 61.8% 1D Fibo level and a bearish price action below the line pointed to a bullish failure and an activation of a bearish short-term reversal. At this point, a good investor will know what is going on and wait until there is the same condition favouring the bullish trend before buying the coin again. This is wiser than just buying and DCAing without a good reason to back it up.

This was how I was able to know how to deal rightly with my Bitcoin purchase when a similar condition happened in August when Bitcoin moved higher and barely hit above $28,000. It was the same Fibo that played out so well to guide me as 1W Fibo level actually repelled the price of the coin downwards. It's good to make plans this way so that one will not be a blind buyer, and once you buy at a reasonable price, you tend to make more money. So, it's not only about DCAing but DCAing rightly with further guidance like this.

@Earn on Victor, you are right about all what you have said. However, when one is planning to use DCA to accumulate bitcoin, he must be prepared based on in income and map out a certain % that he will use when DCAing at various level of bitcoin price. For instance, I might set a budget that the lower the price of bitcoin goes, the higher the amount that will be used for DCA.

This means that if I have bitcoin is 20k, I might DCA with 30% and when the price is between 24k-28k 20% and anything 30k-34k let's say 10% and when the price is  above 37k, you can also choose to stop buying and pause for a while to see how if the price will drop. The most important thing is that you keep on accumulating. The price of bitcoin wouldn't bother you when you are well prepared on increasing your bitcoin portfolio.

An investor that has plans and has the available resource to DCA for long wouldn't worry himself over the market price of bitcoin because he has put all that into consideration, what he will be after is to look at the price to know if he will change his strategy of accumulating to his bitcoin portfolio. Also when the market dips, then one can look for a means to get a good amount of funds that was on reserve or sell part of your other investment or take profit from there to buy more bitcoin.

[Dickiy]

Well and that choice is up to each individual, because only they know about how much money they should allocate to investing, and of course that will still make them okay. Honestly, I hope you won't decide to go overboard with your investments, for example by allocating 50% of your salary. I understand maybe you are very excited to get bigger results, but believe me this is not a good way, but I say this if indeed your finances are not very good then you are desperate to allocate half of your salary for bitcoin, because before starting we must understand that there is also a huge risk there. So we really need to think about making the right decisions, allocating money that you have full responsibility for if it is lost due to fluctuations that occur which are certainly beyond your ability.

Right, the point is always to use your best way of dividing finances from your monthly salary income, if indeed you have unused leftovers then you can allocate them to bitcoin, but still don't let any pressure you feel, the point is not to feel forced and also certainly don't bring greed in terms of investment, the key is how to keep your life going but also by allocating a little of your money to bitcoin, and the key is that I hope you can continue to be consistent.

You seem to be making a decent point, @Dickiy.  There's nothing wrong with being aggressive an/or being overly aggressive as long as you have your expenses covered .. which means that you know that you have your cashflow in order for 3-6 months and an adequate emergency fund that could be for extra kinds of expenses that could come up and are not expected that might include drying up of cashflow and/or increases in expenses for a period fo time that could last 3-6 months or longer..

No bitcoin investor should be putting himself/herself into a position in which s/he could end up losing some of his/her coins at a time that is not chosen.. .so it can take a while to build a bitcoin stash and if you over-do it then you end up losing some of your coins and perhaps being in a worse position because you were trying to be more aggressive than you needed to be and if you had just stacked a wee bit less, then you would not have had ended up losing any coins.

Well as we have discussed above, it will really come back to their own abilities in terms of the financial capabilities of each individual who will be the perpetrator. Of course, to be honest I also never prohibit and there is no prohibition at all for them to behave aggressively or not when they want to start investing, but here maybe we are only limited to suggesting that if indeed you have a limit in terms of financial capabilities or maybe your finances are not as good as the rich in general then you can start investing in an amount that will not interfere with your life or other needs to continue your life. It is actually quite simple to understand what you can afford, only you will know how your finances are there. Allocating a small amount honestly won't be a problem if you can't afford it, because it is clear that you must be able to balance all the needs in your life and also the need to be allocated to bitcoin so that you remain safe, comfortable and also your planning will run well.

Well it refers more to greed, in terms of money I understand greed will definitely exist in humans, but usually that kind of mindset will eventually lead you to results that are even worse than what you imagined. As I said above, hoarding a small amount is not a problem at all compared to you behaving aggressively with a very high risk there, instead of getting a big profit there you get a big loss, it is very likely to happen because we are in a place that is very fluctuating. So the point is I hope they will be able to be more prudent in allocating their money, it will be better and all you need is to be consistent with using DCA, believe me.

[JayJuanGee]

But I have a question for all of you who regularly visit this topic. With the high probability of a recession coming in many regions of the world, do you actually believe that Bitcoin will not be affected by the crash of the legacy markets?

You do not necessarily understand bitcoin if you are attempting to put too much correlation to "legacy markets."  Sure there are liquidity correlations and there are people who play bitcoin as if it were the same as any other market.. without necessarily understanding and/or appreciating the potential for exponentials. .and even the sly round about ways that step ups in value have historically taken place in bitcoin and are likely to continue into the future (even though surely not guaranteed).

Plus if you do believe that a legacy crash will also cause a Bitcoin crash, wouldn't it be a good idea to wait for the DIP?

Yes.. it might and it might not.  There also could be a bitcoin step up that comes prior to the crash, and we might end up crashing back down to the current price (or even a higher price) rather than a lower price from here.

Surely, it does not hurt to hold some dry powder on the side for various dips, but I would not be getting overly excited about the possibility of sub-$20k bitcoin when bitcoin prices might not ever drop below $25k ever again.. including they might not ever drop below $26k again.

I know that you like to get so excited about buying on dip scenarios, but I have my doubts about that approach being a very good one when it comes to bitcoin (except ONLY as a kind of supplement approach rather than a main approach), even though it does sometimes end up working out positively for you.

It doesn't need an answer. It's something for each of us to evaluate in our own "shower thoughts".

It's not the first time that you have raised that same point.. .. I hope it is working out for you and you are not holding too much fiat on the side rather than buying the dips that have already been happening.

Pretty decent BTC prices to be already getting BTC below the 200-week moving average, and you are spending so much time thinking about ways to stack 0.00062817 more BTC during a fantasy dip that might not end up playing out.

[edited out]

Our behavior towards bitcoin does not need to be more aggressive even though the goal is good - I just want to be more calm with what is achieved not because of forced aggressive behavior.

Of course, each of us needs to choose the level of aggressiveness that we want to employ without causing too much stress upon ourselves, and maybe I should provide the example $10 and $100 per week again... .

Let's say that it is pretty clear that based on your cashflow you are able to invest between $50 and $200 into bitcoin every week, and so you consider that a reasonably aggressive strategy would be $100 per week.. It makes you a little uncomfortable, but you are still feeling like you are being sufficiently aggressive. 

On the other hand, if you instead choose to invest between $30 and $50 every week because you want to make sure that you don't have any stress and that you are able to have as much fun as you can with your weekly money, then maybe in that case you are not being aggressively enough, and after 4-6 years investing into bitcoin, you are still going to be advantaged by your $30-$50 per week investment into bitcoin, but if you had been employing the more aggressive strategy of $100 per week you would end up with 2-3x  more bitcoin.  So, of course the level of your aggressiveness and the level of your discomfort with your aggressiveness is a matter of degree and a matter of your choice based on your particular circumstances.

It is not forced because you choose it, and if you are actually causing yourself to be more aggressive than your comfort level, then that can also end up putting yourself into a situation that may end up feeling forced, even though you were the one who choose the aggressiveness level that you would employ.

I know that some of the members here like to use the word consistently, and I am not sure if I really like that word, because you can be persistent and continuously making sure that you are investing on an ongoing and regular basis (such as weekly) but there might be some weeks that you are able to invest $100 into BTC and other weeks that you are only able to invest $5, and the part that you were consistent about has to do with your ongoingly monitoring the amount that you are investing so that you are able to be as aggressive that you are able to be in accordance with your budget and your specific situation, but you may or may not end up choosing and/or following any kind of mandate regarding amount that you might end up doing...

I'd rather have it on a regular basis than $15 to $100 in a few weeks which is sometimes hard for us so $15-$20 isn't too much pressure but you still have to balance it with other needs even if you have extra funds.

In the end, I think that we are largely saying the same thing.

[edited out]

you might want to use better approaches that will earn more for you or that will complement the DCAing since there are many approaches to investing in Bitcoin, it's wise to diversify.

Fuck shitcoins.  We are not talking about shitcoins here.  If you were not talking about shitcoins, then your statement surely does not make that clear.  "wise to diversify" sounds like code for "buying shitcoins could be helpful" when that truly is neither true and also shitcoin pumping (or pumping the idea that shitcoins are good) is not a part of this topic.

What I advise in this regard is to study the market carefully and never buy when the price of Bitcoin is high regardless of your DCA approach.

You are wrong.  A strict DCA approach does not get distracted by price.. .however, if you are suggesting a less strict DCA approach or some kind of hybrid, then there is nothing wrong with that... but don't be implying that you are still following DCA when you are not.. In those kinds of cases you are purposefully deviating from DCA and suggesting that would be better, when it may or may not end up being better than just following a straight DCA approach.  We cannot presume that everyone has time to be fucking around trying to figure out the price, and that is part of the reason that a strict DCA is suggested as a starting point... and sure of course, anyone is free to deviate from DCA by employing various price movement strategies, but that is no longer strict DCA and not even necessarily a good idea (even though you seem to be suggesting that moving from strict DCA is "obviously" better.. which truly is not true)..

Some times people attempt to get to be too smart for their own good, and I have no problem with making suggestions but it is not necessarily going to be a good thing for everyone to be fucking around with various strategies that may or may not end up working, even if you have a lot of confidence in such deviation. 

Take the recent event for example, Bitcoin hit almost $27,500 recently, and that was when I knew fresh trouble might start, and you can see what is happening now.

No we cannot see what is happening now, except maybe BTC prices could go up and maybe they could go down. I can see that, which is almost always true.  Do you think that you have insight regarding which way the BTC price is going to go from here?

Nonetheless, if you are conversant with Fibonacci retracement, you would know decisively in line with the price action that the coin was stopped by the 61.8% 1D Fibo level and a bearish price action below the line pointed to a bullish failure and an activation of a bearish short-term reversal.

We are also not doing trading in this thread.  Even though there is buying on dip ideas, this thread surely is not about trading.

At this point, a good investor will know what is going on and wait until there is the same condition favouring the bullish trend before buying the coin again.

A good investor is a trader?  I doubt it.

This is wiser than just buying and DCAing without a good reason to back it up.

I doubt it.  How many traders beat a strict DCA approach?  Probably less than 10%.  I doubt that it is as obvious and/or "wise" as you are making it out to be.

This was how I was able to know how to deal rightly with my Bitcoin purchase when a similar condition happened in August when Bitcoin moved higher and barely hit above $28,000.

Just because you have it all figured out does not mean that it is a good practice for normies to be fucking around trying to trade and/or even tough enough to figure out if there is going to be a dip or not and how low it will go and/or how long such dip will last.

It was the same Fibo that played out so well to guide me as 1W Fibo level actually repelled the price of the coin downwards. It's good to make plans this way so that one will not be a blind buyer, and once you buy at a reasonable price, you tend to make more money. So, it's not only about DCAing but DCAing rightly with further guidance like this.

Another thing.. you have ONLY been registered on the forum since June 2022.. so it could be possible that you might have been able to beat a strict DCA approach and various other ways of accumulating BTC that might also involve Lump sump investing and buying on dips.. but how about the traders who have been around for 10 years?  DCA and strict methods of ongoing BTC accumulation have done pretty well in the past 10 years or so.. How many traders are able to beat a somewhat strict and persistent DCA approach over the past 10 years?

Let's look at $100 invested over the past 10 years would have resulted in right around $52.6k invested and nearly 54 BTC (an average of a little less than $1k per BTC).  Do you know actual widely applicable ways that a trading strategy would  have had beat those kinds of returns?  Yeah, sure you might have anecdotal stories, but is there a clear practice that would have had beaten a strict DCA approach?

[Salahmu]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

Yes, I've done that until now. I don't care too much about how the price moves, whether it goes down or up, because my goal is to collect more bitcoins for now. And I'm glad I don't check prices on the market or set off alarms too often.

Until now, I can still calmly carry out my plan to collect more bitcoins. And hopefully, it won't affect my psychology unless the price suddenly increases drastically. That would allow me to immediately check the market and perhaps place a sell order.

Yeah that's cool because one of the barriers or factors that can possibly affect our psychological reasoning after accumulation is regularly watching the price movement of Bitcoin because it cannot only affect you psychologically but also emotionally were as you could seriously be panicking seeing the price going opposite direction but perhaps if your intention of accumulation is for long time holding I see no reason why someone could be regularly watching the price movement.

Although if your strategy is for long time holding were as you made mention selling off your Bitcoin if the price moves drastically, for me I will call it a panic sell because it boils down to our discussion about the factors that affect our psychology in times of holding so deciding to sell off your accumulated Bitcoin because of a drastic price increase shows that you were influenced by price movement, perhaps you could regret after selling your Bitcoin were as the price keeps skyrocketing and never gives you the opportunity to accumulate again due to the market spiking, so we shouldn't allow emotions to overwhelm us as such losing opportunity we were supposed to have wile holding.

[Winterfrost]

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

Probably not, but I believe most of us plebs are always checking the price at every hour of every day. I wake up in the middle of the night and check the price. Hahaha.

 

But I have a question for all of you who regularly visit this topic. With the high probability of a recession coming in many regions of the world, do you actually believe that Bitcoin will not be affected by the crash of the legacy markets?

Plus if you do believe that a legacy crash will also cause a Bitcoin crash, wouldn't it be a good idea to wait for the DIP?

It doesn't need an answer. It's something for each of us to evaluate in our own "shower thoughts".

The uncertainty of the Bitcoin market seems to get me and most persons worried, I would say that statistically the percentage of person who dont trust the legacy market and those who do is at 80 - 20. No one is certain but we might experience a global crash in the legacy market in the coming years its crazy that the level of it might be high and I dont see it to go anytime soon.

I have more faith when I ventured into bitcoin than I do now but I am still in less doubt because with all these ups and down presently Bitcoin has still maintained its reputation, with this alone I am convinced and am not scared of what market crash, economic inflation, Political influence will affect Bitcoin. One thing I would regret if I do is to save money the traditional way because ill rather invest my money than let the bank do it for me.

[Raflesia]

Well and that choice is up to each individual, because only they know about how much money they should allocate to investing, and of course that will still make them okay. Honestly, I hope you won't decide to go overboard with your investments, for example by allocating 50% of your salary. I understand maybe you are very excited to get bigger results, but believe me this is not a good way, but I say this if indeed your finances are not very good then you are desperate to allocate half of your salary for bitcoin, because before starting we must understand that there is also a huge risk there. So we really need to think about making the right decisions, allocating money that you have full responsibility for if it is lost due to fluctuations that occur which are certainly beyond your ability.

Right, the point is always to use your best way of dividing finances from your monthly salary income, if indeed you have unused leftovers then you can allocate them to bitcoin, but still don't let any pressure you feel, the point is not to feel forced and also certainly don't bring greed in terms of investment, the key is how to keep your life going but also by allocating a little of your money to bitcoin, and the key is that I hope you can continue to be consistent.

I like what you said in this regard and it's true because at the end of the day we invest not to make things difficult for ourselves. If you really can't afford to invest a bigger amount then at least you do it with something smaller because in the end no matter how small we invest as long as it is done regularly and really consistent then I think it will be much better than when we try for something big and force ourselves which causes us to stop halfway so it's better to take the first option with the amount according to the portion that we can afford.

it's not very difficult for Bitcoin to go from $25k to $30k.

Maybe it's not that difficult but we have seen what happened to bitcoin where even increasing the price to $29k seems difficult because there is a lot of pressure to stay at the bottom price. But if the time is right, the bitcoin price will definitely start to increase and reaching $30k or even $40k or $50k will not be difficult and may only take a moment.

Perhaps we shouldn't focus on the Bitcoin price movement right now, what should be considered is how well you're utilizing the opportunity by accumulating more, truly we no that Bitcoin is ranging within some levels, we shouldn't dwell on or trying to determine what the price of Bitcoin in the coming months will be because it can affect your psychology in times of accumulating were as you over invest believing your psychology that Bitcoin price will get to a certain price before some months as such making you invest more in other to accumulate huge before the months you believe that Bitcoin will get to a certain price reach, perhaps you could be affected financially if it doesn't get to the particular price, is obvious that Bitcoin price will spike soon as a result of the halving coming next year and could possibly surpassed the all-time high but nobody knows when is going to be, so we shouldn't allow emotions to cloud our accumulating psychology to invest aggressively there should always be back up plan.

Price can be important in this case but when we decide to invest seriously and of course with a good scheme then it is indeed okay not to look at the price and buy when your plan is good because in the end when we always focus on the price we will never enter because it is always worried that there is a lower price in the end. rather than like that it is better to try to start and when the price has decreased again then there is no harm anymore to allocate funds and try to continue to be consistent with the supply we allocated regardless of whether it is trending up or down because what we are looking at is not short-term but long-term.

[MCUKing]

You are wrong.  A strict DCA approach does not get distracted by price.. .however, if you are suggesting a less strict DCA approach or some kind of hybrid, then there is nothing wrong with that... but don't be implying that you are still following DCA when you are not.. In those kinds of cases you are purposefully deviating from DCA and suggesting that would be better, when it may or may not end up being better than just following a straight DCA approach.  We cannot presume that everyone has time to be fucking around trying to figure out the price, and that is part of the reason that a strict DCA is suggested as a starting point... and sure of course, anyone is free to deviate from DCA by employing various price movement strategies, but that is no longer strict DCA and not even necessarily a good idea (even though you seem to be suggesting that moving from strict DCA is "obviously" better.. which truly is not true)..

Some times people attempt to get to be too smart for their own good, and I have no problem with making suggestions but it is not necessarily going to be a good thing for everyone to be fucking around with various strategies that may or may not end up working, even if you have a lot of confidence in such deviation. 

JJG while I was reading this thread most of the time, you do support the aggressive buying & DCA and even now here Hybrid DCA what you call is not wrong at all, is what I think more suitable, No doubt with the DCA the accumulation will be more risk-free, but it will be risk-free not much effective or efficient. To make the DCA more efficient sometimes we need to lose the strictness and that is why I used to say sometimes besides DCA you need to prefer the change in strategy.

Price really doesn't matter if you are getting involved in the accumulation to achieve a particular amount of Bitcoiner's hard-lined Bit coiner but it does when it comes to more efficient accumulation.

Let me explain it with 2 sorts of Scenarios.

case 1: A person wants to accumulate 1 Bitcoin according to the cyclical movement and he knows that if the market stays in a range from this point to this point I will invest X amount per Day/week and I will reach my goal at this time.

case 2: Here's a person who has enough capital as well and wants to accumulate 1 Bitcoin but He's not sure about the bottom He stared his DCA and now he got a DIP and here changed the strategy from DCA to instant Buying of 10% of capital and again started DCA and again he bought the DIP.

Now the more efficient Buying is done by Person 2 because he already accumulated 1 BTC before person 2 and His total capital spent in USD is also lower than the person continuously following the strict DCA.