Ignore the dip and Invest in Bitcoin for long term

[Superdoctor]

Take Bitcoin as a long term investment and just forget it like it’s in a long-term investment account. Don’t let your emotions get too much into it else you might make the wrong decision and sell at the wrong time. The  best thing you can do is to not look at it, even if crypto is going up or down. That’s exactly what I do especially now that it’s dipping, I don’t want to stress over it because I believe if I hold and wait patiently Bitcoin is going to rise again.
 My all time investment strategy is buying more when crypto is dipping, holding and selling back when it increases. In 2020 I bought ethereum when it was $700 and sold when it was $4000 in 2021. Within 2020 and 2021 when the price was going up and down, I decided to ignore the dip and hold on to it till I eventually sold at a good price.
 This is the right time to buy more cryptocurrencies especially Bitcoin because the  more people come into the market and increases their demand for it, its value continues to grow rapidly.

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[Oshosondy]

What a good advice. But why ethereum when you post it on bitcoin board.

It was bullish for bitcoin and all-time-high was attained. In 2020, there was a time bitcoin was below $4000. In 2021, there was a time bitcoin was above $65000. It was a great passive profit making means for many people, people that hold at the time.

Just like in the past, bitcoin stayed above $7000 in 2020, but when it dropped to $4000, some people would have panicked and sold their coins, but people that hold saw the price at $65000. Better to hold and not panic to sell.

[bayudndy]

(...)

You may have had success with ETH, but how do you believe it with BTC? Although I am a huge beneficiary in this market as a means to buy other altcoins, it is fair to say that we are benefiting from those who are losing money. And it's like a war, so the winners will see an opportunity in the future that they take for themselves, so it's not for all losers or winners.

[Tytanowy Janusz]

This does not apply to altcoins because 99% of them are going to zero sooner or later, but for bitcoin -70% from ATH is actually a great place to start DCA. Maybe even buy a big long term bag. But the main question that market is trying to figure out right now is how will bitcoin act during global recession that we are about to see. Bitcoin was never in this situation. That's why I strongly advice to not go balls dip into bitcoin right now because risk are inestimable.

[Pmalek]

Although I am a huge beneficiary in this market as a means to buy other altcoins, it is fair to say that we are benefiting from those who are losing money.

I am a bit confused after reading your post. Are you using the profits from Bitcoin to invest in altcoins or the other way around? To me, it seems like Bitcoin is your way to get more altcoins. In that case, that's a pretty risky game you are playing. Everyone knows what's best for them, but I would personally never drop Bitcoin to adopt an alt and possibly a shitcoin created only to make a small group of developers and early investors/advocates rich.

[aoluain]

^

Yea its still a newbie trend to be involved with $hitcoins and focussing on Altcoins when
really the only show in town is Bitcoin. Thats where everyone should be focussing their attentions.

What the OP is advocating in terms of Bitcoin is essentially whats been referred to
as "Zoom out" and not be so affected by the movement of the markets.

[lovesmayfamilis]

Obviously, the OP is confused in his conclusions. He talks about two cryptocurrencies at the same time, but he has probably experienced only one.
Just read the quote from the article that the OP classically paraphrased. Immediately comes the understanding that a beginner who gives advice does not always understand what he is writing about.

Take Bitcoin as a long term investment and just forget it like it’s in a long-term investment account. Don’t let your emotions get too much into it else you might make the wrong decision and sell at the wrong time. No matter if crypto is going up or down, the best thing you can do is to not look at it. That’s exactly what I do especially now that it’s dipping, I don’t want to stress over it because I believe if I hold and wait patiently Bitcoin is going to rise again.

https://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-increases/

[Superdoctor]

Undermining the risk of investing in Bitcoin right now because it’s inestimable. One cannot predict how the market will be the next minute. So why not focus on investing rather than just selling out because of the dip or Do you believe Bitcoin will never rise again?

[Davidvictorson]

Great advice but not everyone can ignore the dip. Especially newbies. Not everyone can invest for the long term. Some folks actually have a short - medium term investment goal in mind. And when the market doesn't go as they had planned they pull out irrespective of whether there's a dip or not. I recently spoke to a friend who did this. She pull what's left of her investment out. She said half a loaf is better than none. The summary is simple - just like someone said do not invest what you cannot afford to hodl.

[Fortify]

This does not apply to altcoins because 99% of them are going to zero sooner or later, but for bitcoin -70% from ATH is actually a great place to start DCA. Maybe even buy a big long term bag. But the main question that market is trying to figure out right now is how will bitcoin act during global recession that we are about to see. Bitcoin was never in this situation. That's why I strongly advice to not go balls dip into bitcoin right now because risk are inestimable.

The simple fact is the biggest money managers and wealthy  accounts under management are currently moving money out of high risk assets. The recent collapse means they have lost a lot of faith in the system and it can take a long time to regain. There is an upcoming fuel crisis in the world and bitcoin is somewhat wasteful when it comes to energy usage. People with money are converting to cash with the hope they can make big bucks in the coming recession by buying near the bottom. It was also very cheap to borrow money until the last year which flooded the market with easy money, as interest rates go up that is vanishing.

[uchegod-21]

Great advice but not everyone can ignore the dip. Especially newbies. Not everyone can invest for the long term. Some folks actually have a short - medium term investment goal in mind. And when the market doesn't go as they had planned they pull out irrespective of whether there's a dip or not. I recently spoke to a friend who did this. She pull what's left of her investment out. She said half a loaf is better than none. The summary is simple - just like someone said do not invest what you cannot afford to hodl.

The advice in OP is so great and understandable, even though he superimposed bitcoin and Ethereum in a particular topic, his points are still understandable.
The issue of not ignoring your portfolio is not only for newbies. Old investors will also not ignore their portfolio when they invest more than what they can lose.
So it is when someone don't have investment plans that they keep their mind in their portfolio when the market is going wrong. I started in this cryptocurrency with trading and immediately I enter a particular trade my mind won't be at rest, so I had to stop trading because of my wellbeing.

[ethereumhunter]

What you are doing is a good strategy because you can take advantage of the market's situation and conditions to benefit you. Not many people can be as patient as you in waiting for the market to go back up because they can panic and sell it as quickly as possible. But be careful if you want to buy altcoins because the price of altcoins can drop deeper and make you have to hold on to the altcoin for a long time. But for altcoins that have the potential to go up high, it can still be recommended but still be careful because we don't know what will happen in the future.

[Beparanf]

(...)

You may have had success with ETH, but how do you believe it with BTC? Although I am a huge beneficiary in this market as a means to buy other altcoins, it is fair to say that we are benefiting from those who are losing money. And it's like a war, so the winners will see an opportunity in the future that they take for themselves, so it's not for all losers or winners.

Bitcoin has much better price performance compared to Ethereum! I think he will make more profit if he invest on Bitcoin in early days rather than Ethereum because is the best performing cryptocurrency so far so if he made that profit in Ethereum then he can surely make huge profit on Bitcoin without a doubt. Ethereum will not reach 4K level if Bitcoin didn't pump to 65K. Investors is just looking for other investment opportunity after they finish trading on Bitcoin which is the reason why Eth and other altcoins pump.

[helloinox]

What you are doing is a good strategy because you can take advantage of the market's situation and conditions to benefit you. Not many people can be as patient as you in waiting for the market to go back up because they can panic and sell it as quickly as possible. But be careful if you want to buy altcoins because the price of altcoins can drop deeper and make you have to hold on to the altcoin for a long time. But for altcoins that have the potential to go up high, it can still be recommended but still be careful because we don't know what will happen in the future.

Long term of not, ignoring the dip and market signal as a whole doesn't seem like a good strategy to me. Sure we all know how Bitcoin is for the long term and eventually climb back and hit a new ATH. Though, looking for the best possible price both in the short and long term to reduce the risk is more sensible.

[uneng]

 This is the right time to buy more cryptocurrencies especially Bitcoin because the  more people come into the market and increases their demand for it, its value continues to grow rapidly.

That is what many investors have been doing by now, buying on every occasions bitcoin suffers a new crash, including El Salvador. Right now it's a very criticized and blamed strategy, but on long term it will be seen as a smart one, once bitcoin recovers again.

Just be careful when advising other people financially, because there is a high chance they misunderstood how the market works and might end accusing you for having their investments in a negative status. I've seen it happening often during this recent bear market.

[boyptc]

For those that just got into investing in bitcoin, they can't ignore it easily. They'll keep on checking the price and charts everyday and they can't themselves stopping doing it.

It's normal.

And for us who have experienced the past ATHs and bears, we can easily do it on our own. If you're not going to buy this dip, yes, that's very much effective to just ignore it.

[BobK71]

The current condition of Bitcoin indicates that it is much deeper than its maximum price. So this is the right time to buy. Moreover, the holders have already built their portfolios during this period. We also see that Blue Whales have started buying from the dip. So if you want to hold Bitcoin for a long time then it can be a golden opportunity.

[Don Pedro Dinero]

Anyone who does not focus on the long term has everything to lose, given the volatility of Bitcoin (and Ethereum, which the OP mentions as well).

One can make regular purchases and forget about what is happening, which would be a simple strategy, but it is also reasonable at times like these to buy more than usual (if you have liquidity), and take advantage of moments like October-November last year to take profits.

The problem is that at times like this, many people get scared and don't buy because they think it could go down further and when it goes up a lot they don't want to sell either because they think it will go up a lot more and selling at that moment feels like a loss.

You have to have a certain sense of smell and experience.

[ethereumhunter]

Long term of not, ignoring the dip and market signal as a whole doesn't seem like a good strategy to me. Sure we all know how Bitcoin is for the long term and eventually climb back and hit a new ATH. Though, looking for the best possible price both in the short and long term to reduce the risk is more sensible.

Maybe not ignoring the decline but how we can look for market signals that we think are a good time to enter the market. But if we can see a decline in the market, we can analyze it further to find the time to buy and vice versa. Bitcoin does have a chance to go high and reach a new ATH but we don't know when and as long as the decline occurs, it's a good time to buy bitcoin and hold it until the price goes high and sell it at a high price.

[Nrcewker]

Yes I completely agree with you.
Instead of treating as an opportunity, many people are fearing and becoming panic.
Due to this they are selling their coins to the petty traders in such a low price.
But to be honest this dip is the best time to buy Bitcoins and hold it for long term.
We have already seen what is Bitcoins capable of , so yes if we buy now and hold for at least 3 months, we will easily get upto 50% return on our investments.
Nevertheless at last it’s people’s choice, how they wanna treat this bear market.