For all of you scared of the current dip

[thecodebear]

Please realize that, at least so far, Bitcoin is carving out support at $44k/$45k. Just one month ago it carved out support at $29k/$30k. Support is literally 50% higher in a single month. That's a ton!

It is surprising we only got two weeks of upside between two major corrections, but price did go up 50% (~$38k to $58k) in those two weeks.

Also remember, consolidation/corrections = market balance. The way we get a blow-off top and 80% year long crash is when market goes parabolic for too long and a flood of immature investors throw everything they have into it and then panic sell everything shortly afterward and leave the market for years. I'd rather have a plenty of corrections like we've now got in both January and February, with overall good growth, that extends what levels people are willing to invest at, and therefore extends the bull run, rather than a market that goes parabolic already and leads to a big sustained crash in the very near term.

And obviously institutional adoption is a major force driving the upside, which could explain both the quick rises - billions from institutions suddenly coming in - and also the back to back corrections - they are used to making 10-20% a year or less so when they make 50% in two weeks some of them take some off the table and others stop or don't buying and wait for stability before coming into the market. The market is pure psychology so over-exuberance leads to crashes but common corrections leads to more sustainable growth. Let's hope for regular 25-30% dips this year in between growth spurts!

If you have cash, buy the dip, if you don't, hold the dip. Just don't sell the bottom (which we are very likely at right now)!

[Wilhelm]

Looking at history you are looking at a 200% to 400% profit if you aren’t too greedy and GTFO in time...
200% would be a good goal...

[dothebeats]

I'm sure we're not at the bottom just yet, though a lot of people have already sold their coins due to the fear that it will plunge even deeper than where we are right now. There should be no shame in taking profits right now especially if one is uncertain what the next few days hold for bitcoin. Personally, I think that cashing out right now would be pretty good especially if you bought somewhere around $20-$30k ranges. True that the institutional investors are driving the upside potential of bitcoin, but right now they have rather become silent and looks like they are happy with what they get right now. They can easily hold and endure any and every plunge, but for us retail investors, I don't think that's also the case.

[Poker Player]

-snip

Great explanation, but I think those who are scared are also too emotional to attend to the reasons you state. They are part of the reason why there are retreats. They buy when it's too high, then some whale sells a good amount, the price goes down, they get scared and sell. I've got a friend who's done that a few time (in the stock market).

I think you are more convincing to those of us who are not scared.

[BrewMaster]

only the newcomers and those who are too lazy to look at the previous couple of months on charts are going to be scared these days otherwise everyone else should know by that that corrections such as this one are the most common thing that can happen during the bitcoin rises.

2017 was full of them. we had a 30% drop almost every month. and 2021 is no different either we already had 2 of them and there are more to come until the end of the year.

[thecodebear]

I'm sure we're not at the bottom just yet, though a lot of people have already sold their coins due to the fear that it will plunge even deeper than where we are right now. There should be no shame in taking profits right now especially if one is uncertain what the next few days hold for bitcoin. Personally, I think that cashing out right now would be pretty good especially if you bought somewhere around $20-$30k ranges. True that the institutional investors are driving the upside potential of bitcoin, but right now they have rather become silent and looks like they are happy with what they get right now. They can easily hold and endure any and every plunge, but for us retail investors, I don't think that's also the case.

Not great advice honestly. Currently price is at 21% down from recent high and has bounced off 25% down twice now. Correction last month only dropped like 31% (but only ~28% before the panic sell off from the double spend fake news). Quite a good chance $44k was the bottom, selling at $46k or so is not a wise move in order to try to squeak out a few extra percent.

Don't sell near the bottom of corrections, sell during the upswing! This is precisely the time smart investors and buying. Bad investors are selling right now.

Also, I certainly hope you aren't serious when you say you can't hold and endure any plunge. That means you are over-leveraged and don't know what you're doing. If you're ever so much in whatever investments and so little in cash that you're in financial peril just because your investments go down for a while, you're putting on way too much risk.

Just an awful lot of bad advice in your comment tbh.

[LUCKMCFLY]

Something important must be taken into account, we cannot force others to think like us, in OP he gives a phenomenal explanation, but it does not apply to all people in general, some out of fear or need for money sell to solve their problems, very few others have a high financial culture to understand that this is not over yet. Others have an emotional intelligence that establishes a state of indecision, when it comes to money it is very difficult to make it change to another way of handling it.

It is a fact that Bitcoin has institutional investors in a greater number than 2017, in fact the adoption of now is very different from the adoption of 2017, the mere fact of having reached such an important ATH was unexpected even for those who bought in 2017 in $ 20k and they thought they had lost their investment, I am sure that the market will take another new ATH perhaps much more juicy, the problem with prediction is knowing when it will happen.

[Sled]

We definitely can't hold some investors to let go of their Bitcoin.  If they are selling now because they are afraid of something, that is their decision. Like if you buy Bitcoin at $25k and sell it now, you are still doubling your money, ain't that bad. We're not yet at the bottom, the price still in the best position and a good time to sell before the dip started. Though we saw the declining trend, however, the market remains healthy and I think we are too far when saying bearish season.

[buwaytress]

We definitely can't hold some investors to let go of their Bitcoin.  If they are selling now because they are afraid of something, that is their decision. Like if you buy Bitcoin at $25k and sell it now, you are still doubling your money, ain't that bad. We're not yet at the bottom, the price still in the best position and a good time to sell before the dip started. Though we saw the declining trend, however, the market remains healthy and I think we are too far when saying bearish season.

I wouldn't want them to do so anyway. Markets need to maintain volume to look healthy and if that supply squeeze that will start hitting institutional orders also starts squeezing on to retail, then price would just soar unrealistically.

Much happier to wait and see more "organic" appreciation.

After all, how else we gonna keep on stacking them cheap eh?

[bitterguy28]

Please realize that, at least so far, Bitcoin is carving out support at $44k/$45k. Just one month ago it carved out support at $29k/$30k. Support is literally 50% higher in a single month. That's a ton!

It is surprising we only got two weeks of upside between two major corrections, but price did go up 50% (~$38k to $58k) in those two weeks.

Enough reason for those panicking to believe and never get that rush selling because for sure they will regret this decision soon.

If you have cash, buy the dip, if you don't, hold the dip. Just don't sell the bottom (which we are very likely at right now)!

Thats what i did , Buying last time when the price dip at 44k , though there might be a chance of this to dump a little more at least i am already waiting for the train run.

[cryptomaniac_xxx]

only the newcomers and those who are too lazy to look at the previous couple of months on charts are going to be scared these days otherwise everyone else should know by that that corrections such as this one are the most common thing that can happen during the bitcoin rises.

Yes, and majority of them are really newbies in this crypto market. And that's why they are scared to see the price plummeted, sell in the dip and complain about the market's volality.

2017 was full of them. we had a 30% drop almost every month. and 2021 is no different either we already had 2 of them and there are more to come until the end of the year.

True, I pointed that out in my other reply, 10 dips in 2017, leading to the eventual bull run at the end of the year. So I would say once a month will be an average in this year.

[coin-investor]

If you have cash, buy the dip, if you don't, hold the dip. Just don't sell the bottom (which we are very likely at right now)!

If only everybody of us has this mindset things will be very different, the market will be stabilized and the price will keep moving up, but not all of us have 100% faith in Cryptocurrency many of us are profit-driven, easily sell their coins whenever there are rewards already and the market is going down.

[traderethereum]

If you have cash, buy the dip, if you don't, hold the dip. Just don't sell the bottom (which we are very likely at right now)!

It is good advice for us, thank you.
But some people already panic when they saw the downtrend yesterday, and they decide to sell their bitcoin.
Maybe that is the right moves for them to buy about bitcoin at a dip and hold it for more until the price can increase higher.
We must be careful with the dip because we do not know when the dip will come. And as your suggestion, try to buy the dip and hold it.
But this moment is still a good time to buy low and sell high because I see the price go up and down many times, so we have more chances to make a profit than just to hold.

[crzy]

If you have cash, buy the dip, if you don't, hold the dip. Just don't sell the bottom (which we are very likely at right now)!

If only everybody of us has this mindset things will be very different, the market will be stabilized and the price will keep moving up, but not all of us have 100% faith in Cryptocurrency many of us are profit-driven, easily sell their coins whenever there are rewards already and the market is going down.

If we keep on holding, even if it hurts already then whales are just laughing at us because they are the one taking profit while the small investors are still hoping that the market can recover. I know holding is rewarding over time, but did you know that you can be more profitable if you always play by the rule and know how to focus on your strategies, I mean taking profit is a must and always have your cut loss level.

[hatshepsut93]

It's okay to be scared, because at some point a crash won't be just a correction, but a real ending of the bull market, and you can't really tell the difference between them until it's too late. Hodling and buying the dip might be good in long term, but you can't blame people for wanting to take profits, especially if it will enable them to make some spendings that they have wanted for a long time. So, worrying for short-term price is pretty legit.

[GeorgeJohn]

If you have cash, buy the dip, if you don't, hold the dip. Just don't sell the bottom (which we are very likely at right now)!

If only everybody of us has this mindset things will be very different, the market will be stabilized and the price will keep moving up, but not all of us have 100% faith in Cryptocurrency many of us are profit-driven, easily sell their coins whenever there are rewards already and the market is going down.

I disagreed with you that with faith of everyone in cryptocurrency goes in one direction can make crypto to increased in price, see people who trade mindset is to make profit and we all know vividly that profiting making cryptocurrency is atoms of a good trader,and the only thing I can think of causing cryptocurrency to go up on values or down is the demands and supply of a cryptocurrency.

[Fundamentals Of]

And just like that, the dip is already over. The fearful has sold instead of bought. I'm sure there are a lot of so-called Bitcoin supporters who did just that, the exact opposite of the right thing.

People are like waiting for the dip so that they will buy more but when the dip takes place they ended up becoming too fearful and imagining a lot of worse scenarios that they ended up selling instead.

[el kaka22]

I guess people who bought bitcoin a few days ago can have a smile because the price increases higher, and it's about a big profit for them. Maybe some of them already sold their bitcoin at a high peak this time and waiting for the next moment to buy bitcoin again. You do not have to fear the dip because the dip will always happen in the future, but you must prepare yourself to use the dip time to buy as many bitcoin as you can.

That is the problem with people who do not do the DCA system because they end up buying as much as they can at a moment they can but that's about it, they do not think about the future. Any person that buys all-in at any price will lose money and there is no alternative to it, because those people got in and they can't get in more and when a dip happens they miss all their chance to buy even more, the reality is that if they could end up buying a ton if they do DCA, how?

Well, they could simply just hold their money, go in slow by slow at any price, and when it has a correction like this, they could buy more with the money they still have, and that would allow them to drop the averages, sure if the price increases you would be increasing your average as well but you would be having more of it in the end so if it goes even higher you are still profiting more.

[buwaytress]

I'm rather more "afraid" that we're not seeing more painful corrections percentage-wise. I mean sure, it still hurts to see 10-20k wiped off in days, but it's really not as meaningful as when we were at 2017 prices, so you're right: 50% gains when looking at bottom vs bottom.

I'd rather see it trimmed down further now, so we squeeze out as many sellers as possible early.

[LogitechMouse]

Please realize that, at least so far, Bitcoin is carving out support at $44k/$45k. Just one month ago it carved out support at $29k/$30k. Support is literally 50% higher in a single month. That's a ton!
~
If you have cash, buy the dip, if you don't, hold the dip. Just don't sell the bottom (which we are very likely at right now)!

There are only 2 types of investor which are scared with the current dip that is happening. They are:

1. Newbie investors who just invested into a coin without having any knowledge or anything. They just heard that they can get profit in crypto.
2. Investors who are panicking easily. They are the ones who are selling at the bottom because they are scared that their portfolio might incur more losses and they don't want it to happen thus, they are panicking.

If you are investing in any market for quite some time and did some research, you must know that markets tend to move in cycles so movements like this are very common. I agree with the current support that OP has been said. I've been putting $44,000-$45,000 as my support too as it touched it and bounced back at that price. One thing more is that there are more good news incoming throughout the year 2021 so instead of panicking, why not be a contrarian and just do the opposite of what most of the investors are doing. If they are selling, do the opposite and buy. If you sold at the bottom, you will regret in the end for the decision you have made.

P.S. We might saw a huge green candle YTD but it doesn't mean that it will not go down. The current red candle as of today is red so there is a chance that it might test the current support of $44,000-$45,000 again. Just be ready folks