Buy Bitcoin, and HODL!

[Lidger]

I think those who trade in Bitcoin have less profit but also less risk. If you think it is risky to invest in Bitcoin then I think you are wrong because people have never lost money by investing in Bitcoin, but they have gained a lot. But short term investment can never make much profit, so long term planning is the best and best investment.

On the contrary those who trade on Bitcoin is highly exposed to the risk of losing all there investment and funny enough there chances of being successful and losing everything is actually 50-50 chances, that's why it surprises me to see how most people are so drone to trading that they talk about it all the time as if they can easily be successful while trading. Perhaps that's why whenever i hear most people complaining that investment is very stressful or difficult it use to sound somehow for me because I see no stress on Bitcoin investment if the investors focus on holding because even if the profit is not coming immediately but you will be very relaxed and enjoy your accumulation and holding then profit can come later.

No matter how many losses an investor faces in his investment he will never completely lose his entire money if he invests. Maybe if the value of Bitcoin falls, its dollar amount will decrease, but that does not mean that all dollars will vanish. Even if his dollar comes down to one dollar, he still has hope for market recovery from here. Like Bitcoin price dumped a lot and my investment amount also decreased a lot but when I will be patient and wait for the market to arrive at a good time and when the market will arrive at a good time as I expected but we can see our investment amount much higher. So there is nothing to be disappointed by investing, today the market is down, tomorrow the market will rise again, we should always keep the hope. Only those investors who trade futures can lose money.

[Justbillywitt]

Today we see Bitcoin going over 70k, we have been on a sideway run from the start of March to now. We saw a new ATH $73794 on 14 Mar, and have also seen some dips along the way. Anyone care to state how close they got to the dips over this period?

(Bitstamp USD$ prices on the daily chart)

20 Mar $60,760
17 Apr $59,629
01 May $56,500

From my own DCA data, looking at the lowest cost price around/near/on those dates I got corn at these prices:

March $62,000
April $62,050
May $57,033

I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?

As always I went with my DCA, I'm not really a fan of buying the dip because I don't want to get into some emotional and psychological drama. I stick with DCA because it's something I have have gotten use to. Either way I still benefitted from the market dip. Unlike you I didn't double my DCA amount during those period. I didn't want something that will take me out of my original plans because I have already programmed my income how to spend them so I don't run into troubles. You know it's not just about going outside of your original plan when you never budgeted for it. But for those who already have this figured out before time just like you can go ahead and double their DCA amount when there is need, but for people who hasn't made any provision before hand, it's best to continue with what they are already used to in order not to get into trouble.

[lizarder]

On the contrary those who trade on Bitcoin is highly exposed to the risk of losing all there investment and funny enough there chances of being successful and losing everything is actually 50-50 chances, that's why it surprises me to see how most people are so drone to trading that they talk about it all the time as if they can easily be successful while trading. Perhaps that's why whenever i hear most people complaining that investment is very stressful or difficult it use to sound somehow for me because I see no stress on Bitcoin investment if the investors focus on holding because even if the profit is not coming immediately but you will be very relaxed and enjoy your accumulation and holding then profit can come later.

To find out more you need to realize where the ability that can be run because trading and investment have different levels of work. A person who does trading must understand and that is done if they really know how. Investing in bitcoin is just talking about holding and when you do not panic then you are guaranteed to get profit in the long run. Trading is also not too bad when you understand how because there are many people who can also make profit in it. But not everyone has the ability to do it and that is why people choose to invest rather than trade.

I prefer investment because it is much easier and all we need is patience to hold. If the investment is done correctly then it is impossible for people to get losses in the investment. The level of accumulation and thinking to continue holding until bitcoin reaches the next ATH then we will get maximum profit.

[CryptoBuds]

I think those who trade in Bitcoin have less profit but also less risk. If you think it is risky to invest in Bitcoin then I think you are wrong because people have never lost money by investing in Bitcoin, but they have gained a lot. But short term investment can never make much profit, so long term planning is the best and best investment.

On the contrary those who trade on Bitcoin is highly exposed to the risk of losing all there investment and funny enough there chances of being successful and losing everything is actually 50-50 chances, that's why it surprises me to see how most people are so drone to trading that they talk about it all the time as if they can easily be successful while trading. Perhaps that's why whenever i hear most people complaining that investment is very stressful or difficult it use to sound somehow for me because I see no stress on Bitcoin investment if the investors focus on holding because even if the profit is not coming immediately but you will be very relaxed and enjoy your accumulation and holding then profit can come later.

No matter how many losses an investor faces in his investment he will never completely lose his entire money if he invests. Maybe if the value of Bitcoin falls, its dollar amount will decrease, but that does not mean that all dollars will vanish. Even if his dollar comes down to one dollar, he still has hope for market recovery from here. Like Bitcoin price dumped a lot and my investment amount also decreased a lot but when I will be patient and wait for the market to arrive at a good time and when the market will arrive at a good time as I expected but we can see our investment amount much higher. So there is nothing to be disappointed by investing, today the market is down, tomorrow the market will rise again, we should always keep the hope. Only those investors who trade futures can lose money.

The risks of investing in bitcoin will depend on each person's situation, bitcoin does not help anyone decide that issue. Bitcoin, like other assets, its volatility is based on supply and demand and is unpredictable. It will all depend on each investor's strategy and plan. For investors with a stable income and long-term strategy, they intend to buy bitcoin every time they have money and hold it until they make a profit, it is clear that their investment is almost risk-free. But for investors who have the idea of ​​getting rich quickly, investing by borrowing, or using emergency money to invest, they will obviously face a lot of risks with their investments. Because no one knows when bitcoin price will increase and when bitcoin price will decrease.

Whether investing in bitcoin is a risk or an opportunity, it all depends on each investor's knowledge and investment strategy.

[Tungbulu]

It's really fascinating how this thread  Buy the DIP, and HODL! has been so active for several years now, making it's way to the second most engaged threads on the speculation board with over 8960+ replies from users all over the forum and over 84680+ Views from users around the community, making this thread tye second most active discussion threads in the speculation board after the Wall Observer BTC/USD - Bitcoin price movement tracking & discussion thread which happens to the first most active and engaged threads in the speculation board with over 668306+ replies and over 26395161+ views from users all over the community.

The thread was created By
 Wind_FURY   on April 17, 2019, 06:07:48 AM and was last edited on July 02, 2021, 10:56:38 AM by the OP, and since then till date, the thread has been active and pretty helpful to those who wish to learn about the act and strategies involved in Bitcoin accumulation and HODLing, with the help of some Top members of the community who have relentlessly shared their amazing knowledge and experience in this thread for the benefit of those who seek to learn.

I believe I wouldn't be the only one who thinks that this thread has been quite helpful and one of the best threads when it comes to learning about Bitcoin accumulation and how to HODL safely because I personally didn't know about the essentiality of building a solid emergency fund in place before beginning your bitcoin accumulation journey, and I was wondering what I wasn't doing right in my investment because i could feel something was wrong because my investment wasn't going the way i pictured it.
But with the help of   JayJuanGee's lectures as well as other contributors, I figured out the answer to my problems and worked towards fixing it.
I must say, I'm honoured being part of this community and I appreciate everyone for their various contributions towards keeping this thread alive for this long.

[Taskford]

I think those who trade in Bitcoin have less profit but also less risk. If you think it is risky to invest in Bitcoin then I think you are wrong because people have never lost money by investing in Bitcoin, but they have gained a lot. But short term investment can never make much profit, so long term planning is the best and best investment.

On the contrary those who trade on Bitcoin is highly exposed to the risk of losing all there investment and funny enough there chances of being successful and losing everything is actually 50-50 chances, that's why it surprises me to see how most people are so drone to trading that they talk about it all the time as if they can easily be successful while trading. Perhaps that's why whenever i hear most people complaining that investment is very stressful or difficult it use to sound somehow for me because I see no stress on Bitcoin investment if the investors focus on holding because even if the profit is not coming immediately but you will be very relaxed and enjoy your accumulation and holding then profit can come later.

No matter how many losses an investor faces in his investment he will never completely lose his entire money if he invests. Maybe if the value of Bitcoin falls, its dollar amount will decrease, but that does not mean that all dollars will vanish. Even if his dollar comes down to one dollar, he still has hope for market recovery from here. Like Bitcoin price dumped a lot and my investment amount also decreased a lot but when I will be patient and wait for the market to arrive at a good time and when the market will arrive at a good time as I expected but we can see our investment amount much higher. So there is nothing to be disappointed by investing, today the market is down, tomorrow the market will rise again, we should always keep the hope. Only those investors who trade futures can lose money.

The risks of investing in bitcoin will depend on each person's situation, bitcoin does not help anyone decide that issue. Bitcoin, like other assets, its volatility is based on supply and demand and is unpredictable. It will all depend on each investor's strategy and plan. For investors with a stable income and long-term strategy, they intend to buy bitcoin every time they have money and hold it until they make a profit, it is clear that their investment is almost risk-free. But for investors who have the idea of ​​getting rich quickly, investing by borrowing, or using emergency money to invest, they will obviously face a lot of risks with their investments. Because no one knows when bitcoin price will increase and when bitcoin price will decrease.

Whether investing in bitcoin is a risk or an opportunity, it all depends on each investor's knowledge and investment strategy.

That's why sometimes I really think that investment for bitcoin is good for people who have steady income flow since they are the one who's commonly not getting affected on any situation that might happen to this coin. Also they can focus on their accumulation and ignore any fuds happening in the market that's why people should consider to make their profit gaining became more stable since this is the most important recipe of their success on their investment on bitcoin.

Compare if they have lack of resources and their income is not steady then for sure that they might always get bothered on every negative happenings since for sure they can't afford to lose their money put on bitcoin since that's all they have. Bitcoin is not quick rich scheme so for people thinking about hodl better if they  do proper study so that they will not find their self getting to much pressure on what they are trying to enter. Using those funds for critical situation is not really good decision to do that's why they need to be a financial literate before going on somehow risky investment so that they can figure out what are those important thing to consider so that success to gain is possible to happen on their side.

[Ruttoshi]

Also you claim people never lost when investing in bitcoin, and this cannot be true, investing in bitcoin, as solid as I believe bitcoin to be, still contains an inherent risk, and you could be forced by circumstances to sell your bitcoin for a bad price even if you do not want to.

Yea, that's for those who didn't plan properly on the amount that they are to use to invest in bitcoin from their discretionary income that will not make them sell their bitcoin before their own will. For one to be successful in his bitcoin investment journey and hodli for long over 10-15years and above. That investor must have an emergency funds up to 3-6 months that will be kept aside so that incase of any emergency that occur along his bitcoin journey, he can use such funds to take care of it, to prevent him from dipping hands into his bitcoin when it is not yet time for him.

You should know that in life we are bound to face uncertainties, and you need to prepare and plan for such in order for you to progress in your bitcoin accumulation. Emergency funds acts as a backup to your bitcoin investment, there is also need for reserve funds, which will be used to take care of some heart desires, in order for you not to use your emergency funds for heart desires. Anyone bitcoin investor who does not have his emergency funds and is investing in bitcoin without building his emergency funds along side with investing is only gambling and wasting his time. The reason why long term investors will not run at loss is that, it is likely for the price of bitcoin to high over time with high odds than going down, check the price history of bitcoin till date. Long term investors are winners.

Finally you claim DCA to be risk-free, which again is not possible, as even something as simple as getting out of bed has a risk, so DCA must have it too, even if it is a very solid strategy to use by newbies and experts alike.

DCA is only risky if you over invest aggressively with it, apart from that if you use 10% of your income, or the right amount from your discretionary income to invest using DCA on a long term bitcoin journey with regular accumulating bitcoin weekly or monthly. It will not put pressure on you and you would not feel as if you are investing, and gradually your portfolio will increase overtime. It is the best method for beginners to accumulate bitcoin to build their portfolio with passage of time.

[wmaurik]

You are absolutely right, For many focusing on holding and accumulating Bitcoin for the long haul might be a safer in their investment. Their are numerous testimonies on how holding bitcoin for the long term pays off. It's crucial to stay informed and cautious in this fast paced crypto space to protect your investments. Trading in the crypto world can be a risky game, especially for those new to the scene. Centralized exchanges do rely heavily on trading for market movements, and that can lead to manipulation, making it tough for beginners to navigate. Understanding the ins and outs of trading, like market dips and news impact, requires a deep level of knowledge and skill.

Beginners who are just getting to know Bitcoin and are also new to centralized markets should not need to rush into trading. However, they can all still choose Bitcoin to store by looking at the examples of several large companies that are still buying Bitcoin at this time. Because these big companies must be smart enough and also understand enough about what Bitcoin is so that with the courage they still have, they continue to buy Bitcoin to keep in the long term without thinking about trading anything except that which is not Bitcoin.

Because there will always be a feeling of regret for those who throw away Bitcoin by trading on any exchange and there will always be more pleasure for those who still buy Bitcoin and keep it for a long time as the best asset and that is very real now. So I think there is nothing that makes it difficult for people to think about this except simply because they don't have the courage to buy Bitcoin when they have the money or the opportunity to buy Bitcoin at the current price. And I've never seen anyone feel regretful after spending money on Bitcoin if that person had the patience to wait for a better Bitcoin market cycle.

[Bravut]

Whether investing in bitcoin is a risk or an opportunity, it all depends on each investor's knowledge and investment strategy.

Knowledge, strategy you say not a bad pointer but I would prefer to use the word "Investors Fate".
An investor who really cares and wants a solid Bitcoin portfolio will do anything within his power to consistently invest, and incorporate positive habits to propel him as he accumulates Bitcoin. In a simpler term, Investors need to have a plan, Target, strategy, Amount readily available of which they must be consistent, discipline about using this tools to create a good track for there Bitcoin holdings.

As I would always say, depends on how valuable you view Bitcoin to be, that is what will be the trigger.

[Mayor of ogba]

Indirectly we can conclude that in the end trading is no better and even very much more risky than investing so we don't need to think too much about trading because sooner or later you will also lose in trading so by seeing that switch to investing without having to look at trading.
In addition, it seems that the discussion of trading will not be too connected when juxtaposed with the previous discussion because from the beginning we always discuss about investment not trading.
I don't want to assume they are bad traders but indeed with your narrative we also actually need to realize that doing trading especially for those people who are new to bitcoin and just learning the investment system, it will indeed be misleading because in the end investing and trading are different things and cannot be put together in a discussion.

Holding is the most profitable form of investment in cryptocurrency, but not everyone can or should hold. Trading has its place in the cryptocurrency market and should be encouraged and supported. Exchanges rely on daily trading for market manipulation and understanding the psychology of demand and supply. If trading isn't your strength, focus on what you believe in and let traders do their work. Ultimately, at some point, we all will be trading our coins.

I know that everyone will not want to hold bitcoin for the long term; some people will want to trade to get a short-term profit; and there is nothing you can tell them that will make them change their minds. Since centralized exchanges rely on trading to manipulate the market, it is enough reason for you not to lead newbies into adopting trading so that they will not be manipulated and lose the money they could have used to accumulate bitcoin and hold it for the long term. To be successful in trading, you need to have a wide knowledge of trading. You should be able to know the reason why there is a dip in the market or if there is news that will determine the outcome of the market if the news is against bitcoin, so that you will not trade that period to be safe. Learning this skill about trading is not easy; we should stay off trading to be safe from losing our money since it requires a high level of knowledge.

You are absolutely right, For many focusing on holding and accumulating Bitcoin for the long haul might be a safer in their investment. Their are numerous testimonies on how holding bitcoin for the long term pays off. It's crucial to stay informed and cautious in this fast paced crypto space to protect your investments. Trading in the crypto world can be a risky game, especially for those new to the scene. Centralized exchanges do rely heavily on trading for market movements, and that can lead to manipulation, making it tough for beginners to navigate. Understanding the ins and outs of trading, like market dips and news impact, requires a deep level of knowledge and skill.

I prefer holding bitcoin for the long term so that investors with large capital (whales) will not use me as exit liquidity. And it is through holding that you can see the profit that will give you financial freedom and help you live a comfortable life. We have seen people retire from their jobs just because of the profits they get from their long-term bitcoin investments. One way to ignore trading is to never attempt to do it, because once you lose money in trading, you will want to recover your money without knowing that you will keep losing more of your money.

[Uhwuchukwu53]

I think those who trade in Bitcoin have less profit but also less risk. If you think it is risky to invest in Bitcoin then I think you are wrong because people have never lost money by investing in Bitcoin, but they have gained a lot. But short term investment can never make much profit, so long term planning is the best and best investment.

On the contrary those who trade on Bitcoin is highly exposed to the risk of losing all there investment and funny enough there chances of being successful and losing everything is actually 50-50 chances, that's why it surprises me to see how most people are so drone to trading that they talk about it all the time as if they can easily be successful while trading. Perhaps that's why whenever i hear most people complaining that investment is very stressful or difficult it use to sound somehow for me because I see no stress on Bitcoin investment if the investors focus on holding because even if the profit is not coming immediately but you will be very relaxed and enjoy your accumulation and holding then profit can come later.

The problem of those that complain is not the stressed as they affirmed but their desire to make it Sharp sharp as they believe that trading is more faster in taking profit compared to investing and holding that it's profit comes late. Just as you have said the risk in trading is very high compare to investing to hold for long term the level of loss  one who trade can experience won't be same with one who accumulate and hold.
Though individual choice differs but for me I prefer the investing to hold than trading as it gives me more time to relax than focus on mornitoring the market for trading is not just an easy task as one need give all attention in focusing in the screen and hie the market is going to avoid loss which is not that easy, it involves a whole lots of attention that buying and holding does not.

[Mayor of ogba]

Today we see Bitcoin going over 70k, we have been on a sideway run from the start of March to now. We saw a new ATH $73794 on 14 Mar, and have also seen some dips along the way. Anyone care to state how close they got to the dips over this period?

(Bitstamp USD$ prices on the daily chart)

20 Mar $60,760
17 Apr $59,629
01 May $56,500

From my own DCA data, looking at the lowest cost price around/near/on those dates I got corn at these prices:

March $62,000
April $62,050
May $57,033

I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?

Since I know that I am accumulating bitcoin for the long term, I am not primarily concerned about buying the bitcoin dip so that I will not be carried away by it and mess up my bitcoin accumulation journey. Based on the money I used to accumulate bitcoin monthly, I still have a long time before I accumulate the quantity of bitcoin I want to hold. So I stick with accumulating bitcoin monthly when my money is readily available for me to use. This discipline has helped me to accumulate bitcoin without going through any difficulties, and it also allows me to accumulate bitcoin when bitcoin is increasing or decreasing. This is how I accumulate bitcoin with the DCA strategy.

[I_Anime]

Whether investing in bitcoin is a risk or an opportunity, it all depends on each investor's knowledge and investment strategy.

Knowledge, strategy you say not a bad pointer but I would prefer to use the word "Investors Fate".
An investor who really cares and wants a solid Bitcoin portfolio will do anything within his power to consistently invest, and incorporate positive habits to propel him as he accumulates Bitcoin. In a simpler term, Investors need to have a plan, Target, strategy, Amount readily available of which they must be consistent, discipline about using this tools to create a good track for there Bitcoin holdings.

As I would always say, depends on how valuable you view Bitcoin to be, that is what will be the trigger.

Most people have plan , target but at the end they will endup selling their bitcoin very early. The reason is that most of them don't actually have  trust and patience when it comes to investing in bitcoin. The moment one trust in Bitcoin and believe that Bitcoin ain't gonna let him down he or she have already started in a good way . Like for instance back then the reasons I normally sell in losses where due to fear that  whenever a dip occurs it may not rise back , due to the knowledge I have Back then but now when am holding I don't show any fear , most time when there's dip I just focus in accumulating more because I believe it's Bitcoin and  it's going to surge more .

[Justinapeter]

Today we see Bitcoin going over 70k, we have been on a sideway run from the start of March to now. We saw a new ATH $73794 on 14 Mar, and have also seen some dips along the way. Anyone care to state how close they got to the dips over this period?

(Bitstamp USD$ prices on the daily chart)

20 Mar $60,760
17 Apr $59,629
01 May $56,500

From my own DCA data, looking at the lowest cost price around/near/on those dates I got corn at these prices:

March $62,000
April $62,050
May $57,033

I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?

As always I went with my DCA, I'm not really a fan of buying the dip because I don't want to get into some emotional and psychological drama. I stick with DCA because it's something I have have gotten use to. Either way I still benefitted from the market dip. Unlike you I didn't double my DCA amount during those period. I didn't want something that will take me out of my original plans because I have already programmed my income how to spend them so I don't run into troubles. You know it's not just about going outside of your original plan when you never budgeted for it. But for those who already have this figured out before time just like you can go ahead and double their DCA amount when there is need, but for people who hasn't made any provision before hand, it's best to continue with what they are already used to in order not to get into trouble.

I totally agree with you and I am also doing the DCA method of buying bitcoin. Maybe right now the amount is still relatively small but I'm sure one day it will be worth a lot. This method is very helpful for managing market risk by investing small amounts regularly. I believe bitcoin has a very good future, so I don't hesitate to use the DCA method. This method can help you have discipline because it ensures you are not too exposed when buying at high prices, while on the other hand it helps when the market recovers, because it has to buy when the market experiences a correction. By not depending on time, DCA can minimize the effect of market ups and downs on the portfolio because the average acquisition price will not be too high or too low.

People who keep on missing bitcoin opportunities are probably not aware about DCA. Or they really are aware but the fear to take the risk is high because they have no substantial amount of knowledge in the first place. I have been fearing bitcoin investment way back then and so I end up procrastinating most often, but I realized I won’t achieve something if I keep doing the same thing and keep the same attitude.

Thankful to have learned about DCA. That idea lessen my fear and started taking small steps in bitcoin investment. Now, from a humble beginning, I can say that I am hodling a little amount of bitcoin already. DCA is the key, and of course having a good mindset and a positive attitude towards bitcoin is also a great factor for success.

[ginsan]

Most people have plan , target but at the end they will endup selling their bitcoin very early. The reason is that most of them don't actually have  trust and patience when it comes to investing in bitcoin. The moment one trust in Bitcoin and believe that Bitcoin ain't gonna let him down he or she have already started in a good way . Like for instance back then the reasons I normally sell in losses where due to fear that  whenever a dip occurs it may not rise back , due to the knowledge I have Back then but now when am holding I don't show any fear , most time when there's dip I just focus in accumulating more because I believe it's Bitcoin and  it's going to surge more .

What makes us have to hold bitcoin longer is our confidence in the investment we make. If you sell early it means you don't have confidence in the investment you made.

Quite simply, successful people are those who are patient with the time they spend investing. There are no worries in their minds and that is what makes an investor said to have high loyalty in the investments they make.

In this strategy, of course we have to look at our initial plan because if we use cold money in investing, of course it won't be a burden on our minds. So why sell it early if we don't need the money, because our finances are sufficient with the allocation we set aside before we invest.

Indeed, sometimes someone buys BTC in large amounts and they are still beginners so they don't have a strong stance in what they have done. Yes, in essence true holders will hold bitcoin until they are satisfied with their btc holdings.

[jossiel]

Thankful to have learned about DCA. That idea lessen my fear and started taking small steps in bitcoin investment. Now, from a humble beginning, I can say that I am hodling a little amount of bitcoin already.

Congratulations!

Be proud of what you have initiated because not all who have known DCA are actually doing it. They've got struggles as well and some might be just all talk that they've been telling that they're about to do it but never initiated anything.

DCA is the key, and of course having a good mindset and a positive attitude towards bitcoin is also a great factor for success.

I like that energy from you and I hope that you keep that spirit and you continue to accumulate Bitcoin. Don't get upset when the market is down because it's not forever like that and the same goes when it's moving upwards, don't be too emotional I should say.

[bhadz]

Most people have plan , target but at the end they will endup selling their bitcoin very early.

If you knew it that Bitcoin is here to stay probably you'd just keep it and won't do anything but to keep on holding. I understand that many are going to sell at some point of their lives but if you're still contemplating what to do with your holdings then, it's just best to hold it for now. That's the reason why many have sold too early because they do not have a concrete plan whether they're going long term or just short term. For the long term investors, they won't mind what's happening to the market and they will even accumulate more.

[Mr.suevie]

Today we see Bitcoin going over 70k, we have been on a sideway run from the start of March to now. We saw a new ATH $73794 on 14 Mar, and have also seen some dips along the way. Anyone care to state how close they got to the dips over this period?

(Bitstamp USD$ prices on the daily chart)

20 Mar $60,760
17 Apr $59,629
01 May $56,500

From my own DCA data, looking at the lowest cost price around/near/on those dates I got corn at these prices:

March $62,000
April $62,050
May $57,033

I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?

Since I know that I am accumulating bitcoin for the long term, I am not primarily concerned about buying the bitcoin dip so that I will not be carried away by it and mess up my bitcoin accumulation journey. Based on the money I used to accumulate bitcoin monthly, I still have a long time before I accumulate the quantity of bitcoin I want to hold. So I stick with accumulating bitcoin monthly when my money is readily available for me to use. This discipline has helped me to accumulate bitcoin without going through any difficulties, and it also allows me to accumulate bitcoin when bitcoin is increasing or decreasing. This is how I accumulate bitcoin with the DCA strategy.

Well I understand what you are trying to say but buying Bitcoin during the dip shouldn't be something that you are fixed on because you can take as an opportunity window even though you are buying with the DCA strategy and this is because the rate you get for buying Bitcoin during is more profitable but it's still understandable that you don't bother yourself and only wait on the dip because consistency in buying of Bitcoin is the right way to go about it especially when you are already fixed in on the taught that you are aiming big with your investment.

[Miles2006]

Today we see Bitcoin going over 70k, we have been on a sideway run from the start of March to now. We saw a new ATH $73794 on 14 Mar, and have also seen some dips along the way. Anyone care to state how close they got to the dips over this period?

(Bitstamp USD$ prices on the daily chart)

20 Mar $60,760
17 Apr $59,629
01 May $56,500

From my own DCA data, looking at the lowest cost price around/near/on those dates I got corn at these prices:

March $62,000
April $62,050
May $57,033

I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?

As always I went with my DCA, I'm not really a fan of buying the dip because I don't want to get into some emotional and psychological drama. I stick with DCA because it's something I have have gotten use to. Either way I still benefitted from the market dip. Unlike you I didn't double my DCA amount during those period. I didn't want something that will take me out of my original plans because I have already programmed my income how to spend them so I don't run into troubles. You know it's not just about going outside of your original plan when you never budgeted for it. But for those who already have this figured out before time just like you can go ahead and double their DCA amount when there is need, but for people who hasn't made any provision before hand, it's best to continue with what they are already used to in order not to get into trouble.

I totally agree with you and I am also doing the DCA method of buying bitcoin. Maybe right now the amount is still relatively small but I'm sure one day it will be worth a lot. This method is very helpful for managing market risk by investing small amounts regularly. I believe bitcoin has a very good future, so I don't hesitate to use the DCA method. This method can help you have discipline because it ensures you are not too exposed when buying at high prices, while on the other hand it helps when the market recovers, because it has to buy when the market experiences a correction. By not depending on time, DCA can minimize the effect of market ups and downs on the portfolio because the average acquisition price will not be too high or too low.

People who keep on missing bitcoin opportunities are probably not aware about DCA. Or they really are aware but the fear to take the risk is high because they have no substantial amount of knowledge in the first place. I have been fearing bitcoin investment way back then and so I end up procrastinating most often, but I realized I won’t achieve something if I keep doing the same thing and keep the same attitude.

Thankful to have learned about DCA. That idea lessen my fear and started taking small steps in bitcoin investment. Now, from a humble beginning, I can say that I am hodling a little amount of bitcoin already. DCA is the key, and of course having a good mindset and a positive attitude towards bitcoin is also a great factor for success.

This is quite impressive stating your bitcoin journey with a long term mindset, it’s best everyone invest according to their strength and income knowing how bitcoin investment work because it can’t work with a short term plan. It’s common now and here when people choose bitcoin investment the first valid point anyone can mention is a long term plan. The DCA strategy is common and mostly every investor identify with this strategy not just because DCA is perfect as people conclude but it allows an investor to settle every necessity before going ahead to buy. In summary an early journey need no hastiness even if the journey is kinda slow it doesn’t necessary matter as it’s good you also consider your reserve, emergency funds this stage.

[tiCeR]

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Well said, everyone is entitled to there own opinion and choose in any form to go about there Bitcoin portfolio. The end game is profit,

I doubt that the end game is necessarily profits.  Sure, we would like to be profitable 4-10 years or longer down the road, but we also would like to have decently good chances that our investment into bitcoin had given us more options as compared with not investing into bitcoin.

It tends to be especially problematic for bitcoin newbies to be worried about the extent to which they might be in profits in their first cycle in bitcoin, and maybe they won't be very profitable, and that should be o.k. as long as they are continuing to accumulate bitcoin, and hopefully figuring out some BTC accumulation strategies that largely tailored to their own financial and psychological circumstances, but also accounting for their 9 individual factors.

but also the end game can be regret after profit, we choose to hold long term because the yield cannot be compared to those who were present for short term without accumulating any considerable stash of Bitcoin. The end game for me is to continually invest in Bitcoin, reaching a maturity stage were I can be selling off anytime and still have more left, still accumulating too. Short term is never guaranteed or will it be a good approach, I know there are individuals or firms who accumulate in bulk, they can choose to sell anytime but would always have a reserve for long run.

You seem to have the right ideas Bravut - especially if you lose that dumbass language about profits, even though technically we are expecting that our chances are pretty good to be in profits the longer that we are investing into bitcoin, but we might not want to get too caught up on profits while we are still engaging in BTC accumulation, and surely there are a lot of folks - especially newbie investors who may well take 10-15 years or longer just to get to a point that they are able to transition from BTC accumulation stages and into something else.  Yeah, it seems strange to talk about bitcoin as an investment that may well take 15 year or longer to accumulate, when bitcoin is ONLY barely older than 15 years right now... but still if someone comes into bitcoin right now and they are a new investor who is investing $10 to $100 per week, they surely may not be able to get out of BTC accumulation stages until more than 15 years down the road.

I doubt that the end game is necessarily profits.

I thought about this for a moment and I think there is a lot of value to that statement. I think we are both on the same page when we say that most people speculate on profit in terms of more USD in their pockets once they have bought and sold BTC. But you have been criticizing the word profit here, and I say rightfully so!

BTC gives you benefits and options. There is a whole branch of science on the value of options. That's why your statement is so valuable because it captures what many of the people who do understand BTC a little better have in their minds. Owning BTC gives you options like no other asset can give you. BTC carries value and BTC is convertible in literally any life circumstance at any place and at any time. If I own an Amazon share, it is not the same. Gold is not the same because I can't carry it with me anywhere at any amount and it comes with more problems than that.

The moment someone sells BTC for USD profit, the same moment the person sells options and opportunities. The real life profit in the moment of the sale is the USD surplus minus all the options that BTC potentially offers to the holder. It could be the obvious further potential price gains, having to leave the country without nobody noticing you are taking value with you, it could be Wall Street burning down and share prices going down the toilet while BTC remains stable due to its security architecture, it could be protection against expropriation in some places, it could be many things and the list is long.

Nice phrase I have to say and while I act that way and think that way I have never put it into a single sentence like you did: "I doubt that the end game is necessarily profits." = "The end game of holding BTC is not necessarily USD (or any other currency) profits." Awesome! The end game is options, having options!