Jegileman
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August 12, 2024, 10:29:17 PM |
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The extent at which most people talk about always buying at dip can be somehow discouraging to most people in terms of changing there focus from regular accumulation to buy only at dip because they always sounds very convincing as if buying at dip is what guarantee there increment of there investment portfolio, sometimes I feel that most of those who always talk about buying only the dip has little understanding about investment if not they would have only seen that dip is just a temporary opportunity brought through the Bitcoin price drops, so at that moment those who have extra funds will increase there investment or buy at once and move on there DCA instead of just depending on the dip.
It is important to buy the dip if you want to be profitable. Just because you’re using DCA strategy doesn’t mean you should ignore basics of trading and buy bitcoin at ATH. Because if you buy bitcoin at the top, you will be losing money when the market corrects itself. For example you buy bitcoin at 70k, how long do you think you can hodl the bitcoins before the price breaks 70k zone? DCA strategy is good for newbies who are just starting out but for those who have the knowledge of trading, they apply DCA in a more efficient manner. The bitcoin market is such that cannot be predicted and if you stick to the DCA strategy, you will enjoy it better and not cry over missing opportunities when the price doesn’t come back to the level you’ve assumed it to come for you to buy more. Every fall in price even during DCA is an opportunity to buy more, so a long term holder that is using DCA strategy will always be happy to see a fall in price in order to buy more bitcoin at the same amount they’ve set aside to be buying either weekly or monthly. Applying the method of trading could be dangerous because it may look more like gambling and not knowing and just predicting where the price could be going next. This ideology could discourage newbies and those that have knowledge of trading before should avoid mixing it with DCA strategy. It will only give room for so many mistakes that cannot be correct when made. Trading is different from DCA strategy and they shouldn’t be intertwined.
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Glen Hoddle
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August 12, 2024, 10:58:00 PM |
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Edited out
I would agree that buying each and every time on a specific timer (one a week, half a month, or a month) is beneficial to a person, rather than just waiting for a dump to happen (because it may not) because of the facts you and many others here talked about. Yeah, That's it! using the DCA strategy of buying doesn't eliminate buying of DIPs but instead it covers beyond... Either the market is in a Dip or not the DCA strategy doesn't focus on that so you can buy dips or buy outside dips using the intervals you mentioned which is a good way of investing. Think of it like this buying of dips is like a bonus to your investment, if you still have some disposable funds after considering your DCA and other necessary stuffs then buying dips with such funds can be a bonus for your investment. You have to plan in such a way that you use your money to buy bitcoins using the DCA method, and you buy dips with more extra money. There is sure to be pumping and dumping in the Bitcoin market, so you must plan and split your money. And keep funds close to perform regular DCA procedures, and be prepared to buy dips in the Bitcoin market so you can buy your Bitcoins from both sides and hold them for a long time. Make a plan like this and convert it into reality then surely you will be successful in holding Bitcoin for a long time.
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Popkon6
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August 12, 2024, 11:47:25 PM |
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Thanks for the tips! With DCA, as I understood, the factor of the volatility of the market can be minimized a bit, and I would agree that buying each and every time on a specific timer (one a week, half a month, or a month) is beneficial to a person, rather than just waiting for a dump to happen (because it may not) because of the facts you and many others here talked about.
But it is most important that you have a plan, because without a plan you will never reach your destination. It is most important that you have a plan if you are going to buy bitcoins according to your DCA method. Because holding in the DCA method requires you to keep your bitcoins alive for a long time, the risk of holding is that you will not be able to sell them. That's why you need to have a separate fund to meet your family's basic needs, as this gift will definitely help you to hold Bitcoin for a long time. And there are other ways which can be followed earlier and you can make bitcoins longer term according to your convenience.
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Samlucky O
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August 13, 2024, 02:25:15 AM Last edit: August 13, 2024, 02:39:20 AM by Samlucky O Merited by JayJuanGee (1) |
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The extent at which most people talk about always buying at dip can be somehow discouraging to most people in terms of changing there focus from regular accumulation to buy only at dip because they always sounds very convincing as if buying at dip is what guarantee there increment of there investment portfolio, sometimes I feel that most of those who always talk about buying only the dip has little understanding about investment if not they would have only seen that dip is just a temporary opportunity brought through the Bitcoin price drops, so at that moment those who have extra funds will increase there investment or buy at once and move on there DCA instead of just depending on the dip.
It is important to buy the dip if you want to be profitable. although I am not a part of this conversation but I would like to add a little even as JJG may have replied you. the way you sounded @SatoPrincess look somewhat like buying the dip is the most profitable method in the whole investment strategy neglecting the DCA and also lump sum method. to me its a bit problematic, if you check from the statement of Roseline492, he made an exquisitely nice point, very clear and precise about how people talks about buying the dip and making it look more important than regular DCA, and yes that can be misleeding because it makes everything looks like a quick way of making money from bitcoin, presumably trading. despite whatsoever we shouldn't forget so soon that bitcoin investment is a long term investment and not a short term investment which should not be neglected. and also reffearing buying the dip as the most profitable while DCA strategy to be done as trading is misleading. Just because you’re using DCA strategy doesn’t mean you should ignore basics of trading and buy bitcoin at ATH. Because if you buy bitcoin at the top, you will be losing money when the market corrects itself. For example you buy bitcoin at 70k, how long do you think you can hodl the bitcoins before the price breaks 70k zone? DCA strategy is good for newbies who are just starting out but for those who have the knowledge of trading, they apply DCA in a more efficient manner.
the fact that you presume DCA is good for newbies as a starting point doesn't mean that old Investors can not use same method. if an investor choses to only buy bitcoin the way you presume, definately there will be no DCA rather buying only the dip. because according to your narrative it implies that we should apply DCA strategy in efficient manner, that is buying bitcoin when the price is low and not when it is high. for example as you said if we buy bitcoin around $70k how long do we have to HODl it before it breaks the zone? fine.. surely if a person buys bitcoin through DCA within the period when bitcoin is high within the $70k and it dips to $65k or $55k then you buy the dip from your reserved fund, and this is the important of having reserved fund for buying the dip, DCA and lump sum because bitcoin is volatile. if you even buy Bitcoin the way you think you are smarter than others as you think, maybe buying only when the price has dipped, you may be supprised that it will still dip more and your sudgested low price may even become a once all time high that need alot of time to come back. for example you made reference of $70k to be a high price to buy, what if $70k dip to $50k and you buy thinking it's low and $50k dip to $30k and take time to recover to $50k so invariably you become frustrated so the best way is to buy using a regular DCA and buying the dip and Also lump sum when you have a fund to lump sum. so your sudjestion was trying to completely eliminate DCA method but as the case may be what can you say now. you can't really be smarter than others in bitcoin investment.
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boty
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 13, 2024, 02:33:31 AM |
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Thanks for the tips! With DCA, as I understood, the factor of the volatility of the market can be minimized a bit, and I would agree that buying each and every time on a specific timer (one a week, half a month, or a month) is beneficial to a person, rather than just waiting for a dump to happen (because it may not) because of the facts you and many others here talked about.
But it is most important that you have a plan, because without a plan you will never reach your destination. It is most important that you have a plan if you are going to buy bitcoins according to your DCA method. Because holding in the DCA method requires you to keep your bitcoins alive for a long time, the risk of holding is that you will not be able to sell them. That's why you need to have a separate fund to meet your family's basic needs, as this gift will definitely help you to hold Bitcoin for a long time. And there are other ways which can be followed earlier and you can make bitcoins longer term according to your convenience. After making a plan, it would be even better if we could carry out the plan that we have made well to be able to get good results and if we use the DCA method in investing, of course we will make purchases routinely according to the schedule that we have determined and continue to make purchases at any price according to our ability and continue to hold for a long period of time until we get profit from holding the asset. Yes, of course we have to prepare funds for our basic needs first in order to be able to run the investment properly because without first preparing the funds, it will be difficult to maintain the investment that we run properly and we may have to immediately take the assets that we have invested in any situation because we are pressed for the needs that we need and this will certainly be very detrimental because it has not produced any profit from the investment that we run.
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JayJuanGee
Legendary
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Self-Custody is a right. Say no to"Non-custodial"
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August 13, 2024, 03:04:35 AM |
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The extent at which most people talk about always buying at dip can be somehow discouraging to most people in terms of changing there focus from regular accumulation to buy only at dip because they always sounds very convincing as if buying at dip is what guarantee there increment of there investment portfolio, sometimes I feel that most of those who always talk about buying only the dip has little understanding about investment if not they would have only seen that dip is just a temporary opportunity brought through the Bitcoin price drops, so at that moment those who have extra funds will increase there investment or buy at once and move on there DCA instead of just depending on the dip.
It is important to buy the dip if you want to be profitable. although I am not a part of this conversation but I would like to add a little even as JJG may have replied you. the way you sounded @SatoPrincess look somewhat like buying the dip is the most profitable method in the whole investment strategy neglecting the DCA and also lump sum method. to me its a bit problematic, if you check from the statement of Roseline492, he made an exquisitely nice point, very clear and precise about how people talks about buying the dip and making it look more important than regular DCA, and yes that can be misleeding because it makes everything looks like a quick way of making money from bitcoin, presumably trading. despite whatsoever we shouldn't forget so soon that bitcoin investment is a long term investment and not a short term investment which should not be neglected. and also reffearing buying the dip as the most profitable while DCA strategy to be done as trading is misleading. Just because you’re using DCA strategy doesn’t mean you should ignore basics of trading and buy bitcoin at ATH. Because if you buy bitcoin at the top, you will be losing money when the market corrects itself. For example you buy bitcoin at 70k, how long do you think you can hodl the bitcoins before the price breaks 70k zone? DCA strategy is good for newbies who are just starting out but for those who have the knowledge of trading, they apply DCA in a more efficient manner.
the fact that you presume DCA is good for newbies as a starting point doesn't mean that old Investors can not use same method. if an investor choses to only buy bitcoin the way you presume, definately there will be no DCA rather buying only the dip. because according to your narrative it implies that we should apply DCA strategy in efficient manner, that is buying bitcoin when the price is low and not when it is high. for example as you said if we buy bitcoin around $70k how long do we have to HODl it before it breaks the zone? fine.. surely if a person buys bitcoin through DCA within the period when bitcoin is high within the $70k and it dips to $65k or $55k then you buy the dip from your reserved fund, and this is the important of having reserved fund for buying the dip, DCA and lump sum because bitcoin is volatile. if you even buy Bitcoin the way you think you are smarter than others as you think, maybe buying only when the price has dipped, you may be supprised that it will still dip more and your sudgested low price may even become a once all time high that need alot of time to come back. for example you made reference of $70k to be a high price to buy, what if $70k dip to $50k and you buy thinking it's low and $50k dip to $30k and take time to recover to $50k so invariably you become frustrated so the best way is to buy using a regular DCA and buying the dip and Also lump sum when you have a fund to lump sum. so your sudjestion was trying to completely eliminate DCA method but as the case may be what can you say now. you can't really be smarter than others in bitcoin investment. The elephant in the room problem is that sometimes the BTC price does not dip, and another thing sometimes there is way too much wasted time strategizing about whether the BTC price might or might not dip and there might not even be that BIG of a difference between buying right away or buying regularly and fucking around trying to figure out if there might be a dip or not and if there is going to be a dip, then how much of a dip there might be...or not and does it really make that much of a difference, especially when it cannot even be known anyhow whether there will be a dip or not, even when there are strong feelings that there might be a dip, that does not always end up happening, so then time is wasted that could be spent in more productive ways.. perhaps even ways to figure out how to earn more money or to cut some expenses in order that more bitcoin can be bought or perhaps ways to figure out how to secure coins in a solid way that is not going to result in putting coins at risk or potentially having a bunch of UTXOs that are overly small.
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1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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wxa7115
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August 13, 2024, 03:39:51 AM Merited by JayJuanGee (1) |
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that's why I'm looking for learning about bitcoin investment here. in this thread there are many different opinions and can be a consideration that must be understood well so that we get lessons about many things bitcoin investment. sometimes I get replies that I don't understand and I apologize for that, but I really appreciate the replies I get are valuable and I will learn to be able to understand them well.
If you are looking for learning about investing in Bitcoin, you can take advantage of more topics in this forum besides this one topic so that your understanding of how to invest in Bitcoin can continue to grow and make it easy for you to draw conclusions. In addition, you can also read on more websites for things like Bitcoin investment and also for the best methods that are still used by many Bitcoin investors today besides understanding the various opinions on topics like this. edited Reading a few books about the investing will also be very helpful, since a great deal of misinformation can be read and watched online, and it could bring a great deal of confusion to a newbie when reading that contradictory information, and while false information can be found in books as well, one or two good books about investing are more than enough to get a person on the right track. Also it is not a bad idea to read more about bitcoin not only as an investment, but simply about how it works and the principles behind it, as the greater the understanding an investor has about it, the more likely it is for them to stick to their decision to remain invested in bitcoin, even when the short term results they get may not be favorable.
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KeenanEl19
Member
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August 13, 2024, 08:58:10 AM |
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Perhaps the only way to learn is to ask questions, I would prefer you ask questions where seems confusing to you than for you to create some level of assumptions that seems very lame and unrealistic. looking at the context of the thread there are few other threads where you can learn basic things about bitcoin investment and smarter ways to buy and hold for a longer term if you indicate interest in them or such thread I will be glad to refer you to some of JayJuanGee's thread which he discussed the basics on each entry that you could make. this threads are even suggested outside the forum which shows the level of original and how true it is, now I would love you to ask or request for links if you're interested but if not you can stick with this thread and ask questions instead of confusing others with your own perspectives.
Okay, thank you in advance. In this thread I read a lot about DCA, and after I found out that this strategy I think everyone can use it because it doesn't seem to need a lot of money to do it, you just have to be consistent in doing it. But is DCA the best strategy to use?
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Roseline492
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August 13, 2024, 09:26:30 AM |
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Buying and investing in Bitcoin is infact the best way to venture into the Cryptocurrency market
Stop referring to bitcoin as cryptocurrency so that newbies or new investors in bitcoin will not see cryptocurrency as bitcoin. When you are talking about bitcoin investment, you need to be specific so that newbies or new investors in bitcoin will not be misled into investing in altcoins, thinking they are investing in bitcoin. There are so many threads in this forum that you can easily talk about cryptocurrency or altcoins, but as far as this thread is concerned, you should always refer to bitcoin as bitcoin so that we will not be distracted. We are all in this thread to share our ideas and experience in the bitcoin accumulation process and also learn from those who are more knowledgeable than us when it comes to bitcoin investment. It sounds discouraging always seeing most people referring to Bitcoin as a cryptocurrency, actually it bit my imagination to see that most people have known Bitcoin for sometime but still could not be able to differentiate between cryptocurrency and Bitcoin, funny enough is very common for so many people outside the forum because is more than ones I have seen someone who invested on altcoins and was saying that they have invested on Bitcoin, so perhaps whenever I see those kind of talk I always make sure to show or teach them the difference between Bitcoin and cryptocurrency so that they will stop seeing Bitcoin to be on that category.
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Wind_FURY (OP)
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August 13, 2024, 10:23:38 AM |
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🤔 I have some questions.
Why is Bitcoin going through mini-crashes, then they're followed by mini-surges? Who's selling large amounts of coins below $60,000, and who buys them back/places price back over $60,000?
Will the market actually give everyone another opportunity to see Bitcoin go below its 200-Weekly SMA again? The last time proved to be a very good buying opportunity.
I had been proposing bets that the spot price would not go below 20% above the 200WMA until after 2025, yet surely we have been getting pretty close to those numbers in recent times. Even though I am willing to bet, I know that I could end up being wrong, so I would not be betting very much or even beyond 50/50 odds.. .. but yeah, when folks are proclaiming super low BTC price dips, they tend to back off of their assertions when you ask them to bet on their prognostication of such seemingly extreme dip numbers. We know that there is an idea of cycles and what kind of a market we are in, too, but even the ideas of cycles could disappear, and we might not be in a bull market, even though it seems that we are, potentially until 2025-ish.. . That's especially true currently now that the Bitcoin Spot ETF is open and available for institutions to enter/exit to and from Bitcoin positions. It may have changed the "cycles". Because if we were to base the current point of the cycle today from the last cycle, today would be a time during 2020 which were not testing the previous all time high. Even though I am suggesting and maybe even proclaiming that cycles could disappear, I doubt that we are anywhere even close to having actual facts to support the actual disappearance of cycles, and likely we are not even going to know or realize that the cycles were no longer persuasive until much after such time that BTC's price performance no longer supports cycle theory... so in that regard, I think that it is way better to continue to presume that cycles are ongoing rather than prematurely proclaiming they had already disappeared based on current evidence (facts) in front of us... including that the mere fact that we reached an ATH prior to the halvening rather than after the halvening seems to amount to lame ass evidence to supposedly support the disappearance of the cycles. In other words, we surely have BTC price moves that are up and they are down and the fractals seems to be within reasonable parameters to overlay the previous fractals, even if the magnitude of some of the price moves might be lesser or greater than they had been within earlier fractals. Maybe no matter what, whether we get 4 year patterns, we still likely should be able to presume that the general pressures on BTC prices is going to continue in the upwards direction, even if we might have extended periods of suppression or maybe even price rises that fail to correct back down within what we had expected to be our cyclical time frame. Another combating theory concerns power law theory versus stock to flow, and surely, I still like to assert that stock to flow is a great way of looking at bitcoin price performance, even if we might not be able to identify with any precision the multiples and/or the magnitudes of the price cycles, there are folks that argue that stock to flow just falls within a powerlaw curve and merely complicates the powerlaw dynamics by adding more largely irrelevant variables to the equation (suggesting that the 4-year cycle is mostly irrelevant).. In the end, I personally give few shits regarding whether powerlaw might be more true than stock to flow, I still consider the 4-year cycles to remain valuable in terms of looking at the BTC price moves, even if there remains a bit of fictional inabilities to really tie such 4-year cycles to actual real world BTC price dynamics.. Here are a couple of recent podcast interviews in which Giovanni Santostasi argues that power law supersedes and is more important and relevant than his claims of stock to flow's inferior adaptation of power law. Simply Bitcoin - https://overcast.fm/+AA1uZKBe3D8Crypto Voices https://overcast.fm/+AANK1lG6bqAI believe that, like you, market cycles merely change because of changes in market factors themselves - Like the entry of the Bitcoin spot ETF, which already may have changed Bitcoin compared from past cycles. But you're also right, more time and data is needed to see if that indeed is truly happening. Furthermore, it seems pretty short-sighted to be selling at these prices or the sub $60ks that you mentioned, yet we know that prices move because people have differing opinions about fair market prices, and some people end up being wrong in their assessment, views and actions, yet in most cases, we don't know who was wrong until later down the road... all of us hope that we are on the correct side, especially if we have put money on our views, and failing to buy bitcoin might well also be one of those where folks have put money (even if they think that they haven't.. when the price goes up, those kinds of dollar worshipers frequently wished that they had some BTC, so they could sell it.. for higher than they paid for it... hahahahaha).
Surely all of us who are buying or holding onto our BTC hope that we are on the correct side of matters, yet there are no guarantees, even though historically the buyers and holders have been disproportionately more correct than those who had failed/refused to take a sufficient/adequate bitcoin position. Bitcoin's investment thesis does not seem any weaker, and there seem to be a lot of ways that its investment thesis is way stronger than it had been historically, even if the upside potential (in terms of percentage moves) is not as great as it had been in earlier times.
That's true, but Bitcoin may still have more upside than most investments you could find in legacy markets. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) I am not even suggesting that there is any better place to put your money apart from bitcoin, even though I also would argue that anyone is going to be foolish if they are not attempting to maintain some kind of balance in regards to having assets in cash and/or cash related traditional investments in order to attempt to account for needs to be able to live in the real world with real world expenses that are likely mostly reflected in dollars and having a decent amount of practicality to have cashflows and/or capital that is held in dollars and/or dollar-related assets - even when we know that the dollar is being debased anywhere between 3% and 20% per year depending on how such debasement is measured. That's with the presumption that, of course, it's already considered when we talk about Bitcoin as an investment.
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Barikui1
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August 13, 2024, 11:46:05 AM |
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Buying and investing in Bitcoin is infact the best way to venture into the Cryptocurrency market
Stop referring to bitcoin as cryptocurrency so that newbies or new investors in bitcoin will not see cryptocurrency as bitcoin. When you are talking about bitcoin investment, you need to be specific so that newbies or new investors in bitcoin will not be misled into investing in altcoins, thinking they are investing in bitcoin. There are so many threads in this forum that you can easily talk about cryptocurrency or altcoins, but as far as this thread is concerned, you should always refer to bitcoin as bitcoin so that we will not be distracted. We are all in this thread to share our ideas and experience in the bitcoin accumulation process and also learn from those who are more knowledgeable than us when it comes to bitcoin investment. It sounds discouraging always seeing most people referring to Bitcoin as a cryptocurrency, actually it bit my imagination to see that most people have known Bitcoin for sometime but still could not be able to differentiate between cryptocurrency and Bitcoin, funny enough is very common for so many people outside the forum because is more than ones I have seen someone who invested on altcoins and was saying that they have invested on Bitcoin, so perhaps whenever I see those kind of talk I always make sure to show or teach them the difference between Bitcoin and cryptocurrency so that they will stop seeing Bitcoin to be on that category. I actually understand very well what you are trying to say here, but I just want to clarify something about what you said, first and foremost, that person you said that invested in alt and when asked, he said he invested in Bitcoin, bro to be sincere here, that person is a complete novice, not even a newbie, because I believe that a newbie can clearly differentiate between Bitcoin and the rest. Secondly, though most of these guys using the term cryptocurrency when referring to Bitcoin is not proper, because they are actually generalizing it, but I disagree on the part that you said that Bitcoin is not cryptocurrency, no bro, Bitcoin is also a crypto, just that you can't compare it to others, because it gives you more security and assurance due to it rich history of always rallying back any time their is a dip in it price. Ok let's look at it this way, if you can use your Google to search types of cryptocurrency, Bitcoin will be the first that will be mentioned, so I don't think it's proper to say that Bitcoin is not crypto, what should be kicked against is when it's being generalized as if it's the same with alt and shit coin when it's not, that's just my opinion though.
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knowngunman
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August 13, 2024, 12:11:25 PM |
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Perhaps the only way to learn is to ask questions, I would prefer you ask questions where seems confusing to you than for you to create some level of assumptions that seems very lame and unrealistic. looking at the context of the thread there are few other threads where you can learn basic things about bitcoin investment and smarter ways to buy and hold for a longer term if you indicate interest in them or such thread I will be glad to refer you to some of JayJuanGee's thread which he discussed the basics on each entry that you could make. this threads are even suggested outside the forum which shows the level of original and how true it is, now I would love you to ask or request for links if you're interested but if not you can stick with this thread and ask questions instead of confusing others with your own perspectives.
Okay, thank you in advance. In this thread I read a lot about DCA, and after I found out that this strategy I think everyone can use it because it doesn't seem to need a lot of money to do it, you just have to be consistent in doing it. But is DCA the best strategy to use? This question will not have a definite answer simply because each individual has their preference when it comes to accumulating more bitcoin. The one that work for you might appear best to you. To put it straight, DCA is a popular strategy that mostly everyone is familiar with for accumulating bitcoin or other cryptos. Without doubt, it's actually a solid strategy but whether it is the best depend on your goals. So, the best strategy is the one that aligns with your goals and that's why jumping into bitcoin or cryptocurrency at whole without personal research is not advisable. You ought to analyze different methods to figure out the one that best suit your goals and stick to it.
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Mayor of ogba
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stead.builders
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August 13, 2024, 12:27:35 PM |
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The extent at which most people talk about always buying at dip can be somehow discouraging to most people in terms of changing there focus from regular accumulation to buy only at dip because they always sounds very convincing as if buying at dip is what guarantee there increment of there investment portfolio, sometimes I feel that most of those who always talk about buying only the dip has little understanding about investment if not they would have only seen that dip is just a temporary opportunity brought through the Bitcoin price drops, so at that moment those who have extra funds will increase there investment or buy at once and move on there DCA instead of just depending on the dip.
It is important to buy the dip if you want to be profitable. As far as bitcoin investment is concerned, your comment is problematic and misleading. It will influence newbies or new investors in bitcoin to time the market before they can buy bitcoin because they believe that is the only way one can be successful in bitcoin investment. Bitcoin was developed to give profit in the long run, so even though you buy the top of bitcoin and hold it for a long time it will still be profitable. For instance, those investors who bought bitcoin at $69k in the last bull run witnessed how bitcoin set another ATH this year. Just because you’re using DCA strategy doesn’t mean you should ignore basics of trading and buy bitcoin at ATH.
Since everyone in this thread is accumulating bitcoin for long-term profit, I think it will be necessary if he ignores the basics of trading because it will not help him hold his bitcoin for a long time. DCA strategy is good for newbies who are just starting out but for those who have the knowledge of trading, they apply DCA in a more efficient manner.
Yes, I agree that the DCA strategy is good for newbies; it allows them to start their bitcoin investment without waiting for any dip to happen, which is a good step in starting a bitcoin investment. Since traders are just concerned about making short-term profits in bitcoin, they will find it difficult to use the DCA strategy and accumulate bitcoin because it's not suitable for them to use.
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sotelorene
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Eloncoin.org - Mars, here we come!
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August 13, 2024, 01:22:29 PM |
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Perhaps the only way to learn is to ask questions, I would prefer you ask questions where seems confusing to you than for you to create some level of assumptions that seems very lame and unrealistic. looking at the context of the thread there are few other threads where you can learn basic things about bitcoin investment and smarter ways to buy and hold for a longer term if you indicate interest in them or such thread I will be glad to refer you to some of JayJuanGee's thread which he discussed the basics on each entry that you could make. this threads are even suggested outside the forum which shows the level of original and how true it is, now I would love you to ask or request for links if you're interested but if not you can stick with this thread and ask questions instead of confusing others with your own perspectives.
Okay, thank you in advance. In this thread I read a lot about DCA, and after I found out that this strategy I think everyone can use it because it doesn't seem to need a lot of money to do it, you just have to be consistent in doing it. But is DCA the best strategy to use? This question will not have a definite answer simply because each individual has their preference when it comes to accumulating more bitcoin. The one that work for you might appear best to you. To put it straight, DCA is a popular strategy that mostly everyone is familiar with for accumulating bitcoin or other cryptos. Without doubt, it's actually a solid strategy but whether it is the best depend on your goals. So, the best strategy is the one that aligns with your goals and that's why jumping into bitcoin or cryptocurrency at whole without personal research is not advisable. You ought to analyze different methods to figure out the one that best suit your goals and stick to it. If I get you correct you are saying that it is advisable for someone to first make a research and figure out a strategy that best suit them, well making a research and finding a strategy is not a bad idea but it's not necessary I mean it's not a criteria that one ought to meet before they start investing in Bitcoin perhaps the basic knowledge is what is/are needed and then with time they can start figuring out those stuffs you are talking about and you can't possibly tell me for sure that those people that are doing well in Bitcoin investment first did research and figure out the best strategy that suit them because I know one can't know everything before starting any investment but rather they acquire some knowledge and insights along the line and it's not just about doing research and figuring out strategy rather what matters is how well one is going about those..., Because it will be a waste of time and energy if one doesn't utilize those strategy and what they got out of their research.
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Sim_card
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August 13, 2024, 01:59:48 PM Merited by JayJuanGee (1) |
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Perhaps the only way to learn is to ask questions, I would prefer you ask questions where seems confusing to you than for you to create some level of assumptions that seems very lame and unrealistic. looking at the context of the thread there are few other threads where you can learn basic things about bitcoin investment and smarter ways to buy and hold for a longer term if you indicate interest in them or such thread I will be glad to refer you to some of JayJuanGee's thread which he discussed the basics on each entry that you could make. this threads are even suggested outside the forum which shows the level of original and how true it is, now I would love you to ask or request for links if you're interested but if not you can stick with this thread and ask questions instead of confusing others with your own perspectives.
Okay, thank you in advance. In this thread I read a lot about DCA, and after I found out that this strategy I think everyone can use it because it doesn't seem to need a lot of money to do it, you just have to be consistent in doing it. But is DCA the best strategy to use?
It depends on the size of your bitcoin portfolio that will determine the strategy an investor will use to accumulate bitcoin. For new investors who just want to start accumulating bitcoin or investors who have little bitcoin in the or portfolio DCA method is the best for these set of investors because DCA method will help new investors to keep on buying bitcoin with an amount from their discretionary income every week or month constantly and continously for 4-10 years and above so that your bitcoin investment will be growing slow and steady without it affecting your financial responsibilities. The DCA method makes it easy for you to invest and hodli for a long time without touching your bitcoin, because this method will discipline you and help you manage your discretionary income properly because for you to be able to hodli your bitcoin investment for long, you will need to set up an emergency funds from your discretionary income for 3-6 months to be a back up for your bitcoin investment along side as you are growing your bitcoin investment. A reserve funds will also be set up from your discretionary income to be a back up to your emergency funds. However, if a new investor during is ongoing DCA buying gets and unexpected funds that he can do without, he can use that money to lump sum immediately to increase his bitcoin size faster. Waiting for the dip is for bitcoin investors who their bitcoin portfolio have reached a certain level, and for that reason even if they wait for the dip it will be of advantage to them because they will buy a good fraction of bitcoin at a low price to add to their bitcoin portfolio for a significant increase. A new investor does not need to wait buy just to keep on buying overtime to cover up the wasted time that he was unable to invest in bitcoin. In addition, DCA helps you to buy bitcoin at different price level giving you the opportunity to buy bitcoin at the bottom line of the dip which no one can know.
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Zanab247
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August 13, 2024, 02:42:21 PM |
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Buying and investing in Bitcoin is infact the best way to venture into the Cryptocurrency market
Stop referring to bitcoin as cryptocurrency so that newbies or new investors in bitcoin will not see cryptocurrency as bitcoin. When you are talking about bitcoin investment, you need to be specific so that newbies or new investors in bitcoin will not be misled into investing in altcoins, thinking they are investing in bitcoin. There are so many threads in this forum that you can easily talk about cryptocurrency or altcoins, but as far as this thread is concerned, you should always refer to bitcoin as bitcoin so that we will not be distracted. We are all in this thread to share our ideas and experience in the bitcoin accumulation process and also learn from those who are more knowledgeable than us when it comes to bitcoin investment. It sounds discouraging always seeing most people referring to Bitcoin as a cryptocurrency, actually it bit my imagination to see that most people have known Bitcoin for sometime but still could not be able to differentiate between cryptocurrency and Bitcoin, funny enough is very common for so many people outside the forum because is more than ones I have seen someone who invested on altcoins and was saying that they have invested on Bitcoin, so perhaps whenever I see those kind of talk I always make sure to show or teach them the difference between Bitcoin and cryptocurrency so that they will stop seeing Bitcoin to be on that category. And they will still be proofing themselves right by using cryptocurrency investment as BTC investment which you can only find such thing from newbies. Well like those that understand the investment very well in the industry, will know that there is different between BTC investment and cryptocurrency investment, and if you want to make your choice to invest, ensure you make BTC investment your choice, so that you will accumulate profits like BTC investors, and if you want to discuss anything related to BTC, this is the right trend and you will achieve something nice from bitcoiners. I guess, many have learned their lesson from this trend and some of the newbies are still going to learn lesson, so that they can understand it very well to know that BTC still remain the king among other cryptocurrencies in the industry.
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Promocodeudo
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August 13, 2024, 02:42:38 PM |
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Investment is one economic way of sustainably developing our funds and surely we can't do that successfully in a short term duration. For short term period bitcoin investment there's the tendency that the investor may be less profitable or not profitable at all within the short duration, that's what makes a long term duration the best investment plan for bitcoin because you can always adjust your time further based on the market performance if price takes a downside direction and sits there for some period of time the investor doesn't grow anxiety since from the initial the plan was for a long duration.
Investing of course DCA method is best to invest in Bitcoin and not anywhere else. Because if you invest anywhere other than Bitcoin then your entire money will be at risk. So you should also have a plan how to make your investment long-term, and planning is most important to save long-term investment. DCA method is the easiest method for any investor to multiply his money here. If the person wants he can deposit his money continuously weekly or monthly like when I enter this thread I immediately start doing Bitcoin DCA method after few days. I'm almost two years past investment age and the most self-sufficient I've been since 2023. Of course, the best time to invest is during the dip. There's no specific time or period to invest in bitcoin. If anyone is interested in investing in bitcoin, and if that person has already kept the funds somewhere to start his bitcoin investment, the person can start right away to accumulate bitcoin with the DCA strategy. Trying to invest in bitcoin only during the dips is not a good strategy to adopt; it will delay your accumulation process, and you might miss out on holding bitcoin if the bitcoin price fails to dip to the price you want to buy. For the sake of those who are new to bitcoin or who are just starting their bitcoin investment, your comment is misleading because they will believe the best time to invest in bitcoin is during the dip. Experienced and knowledgeable people will never wait for dip season to invest. Because they will buy regularly instead of waiting for dip season and adopt DCA method to increase their investment. Moreover, if an investor uses the dollar cost averaging method in his investments, he may not have to wait for a bearish market because he will spend the same amount of money on a weekly or monthly basis to buy Bitcoins. If the market goes up, he has a little disadvantage because he can buy less bitcoins at that price, and if the market goes down, he has the advantage that he can buy a little more bitcoins at that price. However, even if the market is going up or down, the average cost of his investment will remain the same. Many have commented that the dip is the best time to invest in Bitcoin, such comments are simply foolish. There is no fixed time limit for Bitcoin investment. I think you have enough funds to invest you invest and try to increase it gradually take steps to hold even longer as per your ability. That's exactly what it is, dip season does not occur all the time, although we have bear market which implies to the downtrend of the said investment but as a matter of fact some times this occurrence dont actual happen they way individual investors expect it to be, an experienced investor that understands that waiting for the price may deviate his or her attention or Interest from the investment will want to keep accumulating to build a bulky portfolio irrespective of the price at all time because he already know that price fluntuation might continue favouring a particular market season, lets say the market continue to pump an experienced investor understand that he is expected to buy and hold hence their is assurance that Bitcoin will reach 100k and more one day and the current price has not even reach those expected price so a knowledgeable person will continue to use whatever method he want to keep upgrading his portfolio knowing fully well that irrespective of the current price, the future is certainly assured with bitcoin. It is funny when people say that dip season is the actual the period meant for investors to invest in Bitcoin, if thats the truth, there would have not been large hodlers, bitcoin investment is an opportunity and with what I know opportunity does not have actual set price before an invest will embrace it, although the dip is a good opportunity to buy bitcoin at a lesser amount but that doesnt mean that it is the only period thats expected for investors to buy, every investor should understand that time waits for nobody, the more you wait, needs may arise and the funds meant for the investment might be used in other things, what makye us good investors is our ability to keep buying the little we can overtime, excuse and procrastination are dream killers, Bitcoin can be bought in fractions why waiting for the dip, lets keep off from such mindsets to enable us to continue doing the needful before regret comes.
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Tungbulu
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August 13, 2024, 02:53:06 PM Last edit: August 13, 2024, 10:12:12 PM by Tungbulu |
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Stop referring to bitcoin as cryptocurrency so that newbies or new investors in bitcoin will not see cryptocurrency as bitcoin.
I think you may have misunderstood me, I am in no way referring to Bitcoin as cryptocurrency, I used the term Cryptocurrency Market, that's different from refering to Bitcoin as Cryptocurrency. My intention is not to sound misleading but to state a point. I'm not a fan of shitcoins, yes I've been involved in shitcoin investments during my early days in the digital market, but my experience made me frown completely at anything that concerns shitcoins as I only support Bitcoin investment. When i said cryptocurrency, I'm referring to the market in general and not the asset, and I apologize for whatever misconception that may have caused.
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Justbillywitt
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August 13, 2024, 03:00:14 PM Merited by JayJuanGee (1) |
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The extent at which most people talk about always buying at dip can be somehow discouraging to most people in terms of changing there focus from regular accumulation to buy only at dip because they always sounds very convincing as if buying at dip is what guarantee there increment of there investment portfolio, sometimes I feel that most of those who always talk about buying only the dip has little understanding about investment if not they would have only seen that dip is just a temporary opportunity brought through the Bitcoin price drops, so at that moment those who have extra funds will increase there investment or buy at once and move on there DCA instead of just depending on the dip.
It is important to buy the dip if you want to be profitable. Just because you’re using DCA strategy doesn’t mean you should ignore basics of trading and buy bitcoin at ATH. Because if you buy bitcoin at the top, you will be losing money when the market corrects itself. For example you buy bitcoin at 70k, how long do you think you can hodl the bitcoins before the price breaks 70k zone? DCA strategy is good for newbies who are just starting out but for those who have the knowledge of trading, they apply DCA in a more efficient manner. Fuck the basic knowledge of trading, it is not needed for people who are into long term hold, and that's what this thread represent. What is the essence of acquiring a knowledge that you won't be making use of. There are many threads in this forum where such things are being discussed, if you in interested in trading or giving advice to people who cares about it, you should go to such threads. I also want to make it clear to you that there is no method of bitcoin accumulation strategy that's not profitable on the long term hold, that's why investors are encouraged to hold bitcoin for a long term. Because if you buy bitcoin at the top, you will be losing money when the market corrects itself. For example you buy bitcoin at 70k, how long do you think you can hodl the bitcoins before the price breaks 70k zone?
Your trading mentality is what you are using to make your judgement here and it is drawing you backward. How about you look at it in a long term perspective, which is what this thread represent. When the market correct itself does it remain there forever? The market always goes back up. Bitcoin investment involves patience. Hope you remembered the last ATH that was set before which was around $69k, people bought it back then and held patiently till we saw the new ATH which was recorded earlier this year and they made profit. You never lose in bitcoin investment unless you decided to panic sell when there is a market correction. DCA strategy is good for newbies who are just starting out but for those who have the knowledge of trading, they apply DCA in a more efficient manner.
You are ignorant about many things, how can you say this? I can't believe you have been following this thread for long and you are sounding like someone who just started posting here newly. Many times this issue has been discussed here that DCA is suitable for every investors, be it new or old investors, rich and poor investors inclusive.
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Zackz5000
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 13, 2024, 08:59:32 PM Last edit: August 13, 2024, 09:20:14 PM by Zackz5000 |
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Stop referring to bitcoin as cryptocurrency so that newbies or new investors in bitcoin will not see cryptocurrency as bitcoin. I think you may have misunderstood me, I am in no way referring to Bitcoin as cryptocurrency, I used the term Cryptocurrency Market, that's different from refering to Bitcoin as Cryptocurrency. My intention is not to sound misleading but to state a point. I'm not a fan of shitcoins, yes I've been involved in shitcoin investments during my early days in the digital market, but my experience made me frown completely at anything that concerns shitcoins as I only support Bitcoin investment. When i said cryptocurrency, I'm referring to the market in general and not the asset, and I apologize for whatever misconception that may have caused. You did well for accepting your mistake and also for your apology, is not that using the word cryptocurrency is bad but as long as this thread is concerned using the word cryptocurrency instead of using Bitcoin can be very problematic and misleading expecially to new member that may want to venture into Bitcoin investment. There are other thread in this forum where you can comfortably talk about cryptocurrency not here because what we are discussing here is Bitcoin investment, how one can accumulate more Bitcoin and hold for long either using DCA strategy to accumulate or other strategies such as the lump sum and also buying at the dip strategy, cryptocurrency is a just a general word where other coin such as shitcoins is included so newbies hearing about cryptocurrency might think is shitcoins which is never reliable to invest on and they might end up investing in it and regret at last, so been specific about the coin you are talking about is very important if it is Bitcoin then it is Bitcoin if it is shitcoins then it is shitcoins. Also when even you are quoting some one try and cheek if you quoted rightly because looking to your quote you did not do it in a proper way.
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