Let's Hold Strong, Not Hope for a Drop!

[capoeira]

I'm having a tough time understanding some recent pronouncements by Bitcoin enthusiasts regarding price.

They say Bitcoin is expensive and want a price drop so they can "DCA" (Dollar-Cost Average) and add to their holdings. But seriously, who hopes for an asset they believe in to fall?

At this price point, especially considering the 2021 bull run, this thinking is risky. You, the evangelists, are Bitcoin's core. If you consider these levels expensive, then who's left to buy?  A break below $60k could be devastating for sentiment, potentially hindering future climbs. Bitcoin has already tested these waters three times.

Instead of waiting for a hypothetical $20k price and a multi-year recovery, why not take advantage of this relatively attractive price today? Let's work together to break through this resistance and show the world that Bitcoin is still the incredible asset capable of impressive new highs!

[Plaguedeath]

They say Bitcoin is expensive and want a price drop so they can "DCA" (Dollar-Cost Average) and add to their holdings. But seriously, who hopes for an asset they believe in to fall?

Lol, people who said this didn't even understand what DCA actually is, they need to read twice the definition. If they want to DCA an asset that the price keep failing, it means they will end up in loss. DCA is actually a strategy to accumulate a good asset that the price will rise in the future.

After all, just wait and see, Bitcoin will prove them in the future.

[Orpichukwu]

The volatile nature of bitcoin creates room for people to hope and pray for it to fall so that they can accumulate more. Just because they want the price to fall doesn't necessarily mean that they need Bitcoin to fail; all they want is a good buying opportunity, which most people have mapped out at a different price. 
 
For wise investors, using the DCA method, they can buy at any given price, low or high, without even waiting for the bitcoin price to drop below $60,000, which they are currently buying as they go until they reach their holding volume target. It's as simple as that. 

[Beparanf]

I'm having a tough time understanding some recent pronouncements by Bitcoin enthusiasts regarding price.

They say Bitcoin is expensive and want a price drop so they can "DCA" (Dollar-Cost Average) and add to their holdings. But seriously, who hopes for an asset they believe in to fall?

It’s ironic that you are calling them a Bitcoin Enthusiast while their comment is more on negativity and not from an Enthusiast.

Most importantly, where do you find this Bitcoin enthusiast that provides this kind of ridiculous comment about the price. They should be more happy that price is high for their holdings instead of commenting about expensive. They look like someone who sold early like mid 30K while they want to bring the price down just to repurchased again.

Anyway, with this slow price drop of Bitcoin. I doubt that this is enough to be alarmed.

[TheUltraElite]

Prices will rise and fall, it is the nature of any speculative asset.

Moreover the people who are regularly buying and selling are seldom visiting this forum and writing comments on threads, so our words mostly go in vain for them.

Still then, the mentality from this forum's members is very clear, they buy at the low and hold it. The drop in price that has happened, need not make anyone worry, in fact your mindset should be like that only, never panic but apply your strategy - you buy when the price drops and you sell when the prices rises.

[348Judah]

I'm having a tough time understanding some recent pronouncements by Bitcoin enthusiasts regarding price.

They say Bitcoin is expensive and want a price drop so they can "DCA" (Dollar-Cost Average) and add to their holdings. But seriously, who hopes for an asset they believe in to fall?

In this case, we have to first define the kind of holder we belong to, if we are holding on a short time only to engage on trades or to invest and hold for a longer period of time, we have to consider all these and know which is good for us, we cannot just make an investment on bitcoin and hold without a specific bearing or target on when to hold and for how long before selling out, if not we may end up not making profit on our investment, though it's still remains a volatile cryptocurrency.

[Franctoshi]

They say Bitcoin is expensive and want a price drop so they can "DCA" (Dollar-Cost Average) and add to their holdings. But seriously, who hopes for an asset they believe in to fall?

Reduction in the price of Bitcoin Isn't a bad thing, it is normal and also healthy for the market as it gives room for new investors to come in and purchase their Bitcoin, price cannot continually go up, there is a period we will have downwards and upwards movement, So people that are expecting Bitcoin to drop are probably people that's are looking for a buying opportunity. So, isn't totally bad for this very set of people to expect Bitcoin to drop for them to buy, however, even with that expectation there's still no guarantee that the price will come to them as expected.

[yudi09]

-snip-

They say Bitcoin is expensive and want a price drop so they can "DCA" (Dollar-Cost Average) and add to their holdings. But seriously, who hopes for an asset they believe in to fall?
-snip-

At some point, those who expect the price to continue to remain in the current decline condition because they believe that this is a good momentum after the halving. They believe that the time to be bullish after the halving will not be long.
For those who apply the DCA method in making their Bitcoin holdings also profitable. If usually they only get 0.002 with the nominal amount of money allocated regularly, then when prices drop like now it could be more. That is, if I'm not mistaken in properly understanding what you mean.

[seoincorporation]

Instead of waiting for a hypothetical $20k price and a multi-year recovery, why not take advantage of this relatively attractive price today? Let's work together to break through this resistance and show the world that Bitcoin is still the incredible asset capable of impressive new highs!

I don't think we have an attractive price today, at least not to buy... if we see the price crashing the best thing to do is to sell, then wait for a bigger crash and then buy. if we sell at $63k and then buy at $50k then we will have more bitcoin, and that's the right way to ride the wave. The problem is when we sell and then the price goes up, that's a terrible move. But markets are hard to predict. That's why holding is always a good option.

[BitMaxz]

Aren't you happy about the price drop? you should be happy to buy BTC at a cheap price and what I see on the Bitcoin price action I don't see any suspicion it is everything ok and it is forming a symmetrical flag it looks like a bullish flag and the price it's still within the flag.

The possible price that BTC will bounce again when it touches 59k but if it fails it should be around 57k that is the support area of the symmetrical flag.
So it's too early to say that Bitcoin will reach a new ATH my prediction we need to wait for q3 and q4 if it can break the 71k once it breaks we should see new ATH next year.

[Yucky]

Instead of waiting for a hypothetical $20k price and a multi-year recovery, why not take advantage of this relatively attractive price today? Let's work together to break through this resistance and show the world that Bitcoin is still the incredible asset capable of impressive new highs!

Bitcoin is volatile and that means it's going to experience somany rise and fall like what we've seen now and what will continue to happen even in the future. Anyone that's investing with the DCA methord should have known that by now.

When Bitcoin price goes low, it's actually an advantage for those doing DCA to buy at a much lesser rate but they all don't want it to continue going down or else they will be afraid of what will become of thier investment should it never go up again. Every Bitcoin enthusiast like you called it knows about how volatile Bitcoin is and knows that what's happening now is no cause for alarm.

[GbitG]

An investor doesn't need to wait for the price of an asset to drop if they are willing to DCA because you only wait for the price to drop if you are willing to do an all-in which means you will invest everything you have for the investment in one go without keeping anything behind, whereas when you are using the DCA method, you tend to buy with only a specific portion and keep the rest for the future and this can be done at any price point.

People actually have different investment strategies that are based on their understanding of Bitcoin or the overall market, some might have their minds set on a specific price range and are waiting for that to hit so that they can buy, others might be looking for smaller dips so that they can make use of those dips and earn small profits in short intervals.

[bluebit25]

Those who like to pay the price will miss the opportunity they can hold, and of course in this space any situation can happen because of its variability. But what makes me feel like people are easily swayed by the theory that they are looking forward to the short/long term increase in bitcoin price through the perfect investment for good price times to be able to buy, not ironically. Instead, it's just psychological manipulation in the market that makes us skeptical about things we once had great faith in.

DCA is sometimes abused by those who do not understand it, but nonetheless it is because of that ignorance that market volatility exists, even if someone buys at the current price but has a period of time. With the possibility that bitcoin will reach the $100k, $200k... milestones, it seems easier to think than to keep doubting and lose opportunities.

[Webetcoins]

Lol, people who said this didn't even understand what DCA actually is,

Yeah, because when we say DCA, it means we must buy whatever the price of the coin is. If they wait for a dip in price before investing, then that is already a different strategy and for sure they can also use bigger amounts here, in order to make their waiting a little worthy.

If they want to DCA an asset that the price keep failing, it means they will end up in loss. DCA is actually a strategy to accumulate a good asset that the price will rise in the future.

Good assets like BTC can experience a down time too and it can go severe. Yes we can experience a loss especially if we keep on buying but we shouldn't panic because it can only be temporary. I don't think BTC will fail us this time because it already fought a lot of battles in the past and some of them are even tough. DCA is a popular strategy right now and I'm only afraid that same people will apply it on the coins that are not yet tested through time.

[coolcoinz]

They say Bitcoin is expensive and want a price drop so they can "DCA" (Dollar-Cost Average) and add to their holdings. But seriously, who hopes for an asset they believe in to fall?

A drop in price (correction) is not a fail.

Keep in mind that we've been at 60k multiple times this year and in 2023
Look at weekly charts. We drop back to 60k range almost every month. We had a similar corrective move in March, 3 times in April and now we have it in June.

At this price point, especially considering the 2021 bull run, this thinking is risky. You, the evangelists, are Bitcoin's core. If you consider these levels expensive, then who's left to buy?  A break below $60k could be devastating for sentiment, potentially hindering future climbs. Bitcoin has already tested these waters three times.

It also tested 71k a couple times. It means nothing!
If we go below 60k it will probably end in a lower low and maybe even months of sideways moves before we go back up, but if we stay above 60k it will look like a normal correction in a bull market and we'll keep attacking the ATH once again.

[kentrolla]

No one in right sense of mind would want the assets which they are holding to fall so that they can buy back, it would be foolishness to wait expecting Bitcoin to fall below or in the tang of $20k and rather amass more than DCA during these dips instead of regretting later.

[darkangel11]

Instead of waiting for a hypothetical $20k price and a multi-year recovery, why not take advantage of this relatively attractive price today? Let's work together to break through this resistance and show the world that Bitcoin is still the incredible asset capable of impressive new highs!

I don't need to buy bitcoin to show my support. I do it by holding my coins and I'm already a whole decade into this.
People who say the price is too high and they want it to drop are people who sold, or those who are shorting bitcoin. No sane person would say a stupid think like "I'm waiting for a price crash so I can DCA" Where did you hear that? People who DCA don't care what the price is, but those who short with leverage, or are fiat heavy, do.

[salad daging]

Maybe people who are new to bitcoin, where they see the price is high then want the price to go back down after going down wait for another correction, this is endless and they only want low prices while other people want high bitcoin.

It's time to buy now because the price is falling, it is likely that the price will return to the $70K area again and when people don't buy now, they will regret it, this is no longer strange.

I don't care about the decline even though the portfolio is red but the fact is this is the right time to accumulate by means of DCA or better buy dip now if you have a lot of money.
Because the finances are not so big in my possession, I can only do DCA when I have money, so once a month is enough for me.

[taufik123]

You seem to be overly skeptical of the bitcoin price drop and look very unhappy. Maybe you bought at a fairly high price or maybe there was a last ATH.
Even if you can't keep bitcoin going up, the decline is the way that Bitcoin regains its strength.
If there is always an increase it is also not good and there will even be a correction that occurs and may be larger.

A healthy crypto market always has price fluctuations and this decline can be used to do DCA.
Don't be afraid of the downturn, you can implement your strategy to take advantage of this decline.

[Tmoonz]

The volatile nature of bitcoin creates room for people to hope and pray for it to fall so that they can accumulate more. Just because they want the price to fall doesn't necessarily mean that they need Bitcoin to fail; all they want is a good buying opportunity, which most people have mapped out at a different price. 
 
For wise investors, using the DCA method, they can buy at any given price, low or high, without even waiting for the bitcoin price to drop below $60,000, which they are currently buying as they go until they reach their holding volume target. It's as simple as that. 

Volatility is an inherent trait of Bitcoin, and that is even what makes it more interesting, buying at any price point doesn't really make much of the difference if only the intention is to hold for a long term, yeah in as much past event doesn't give a guarantee of the future historically there is a clue or guide  that Bitcoin will keep making a new all time high before or after it's halving event , that is to say that there is much hope for Bitcoin to keep increasing in value than  what we are seeing today hence instead of prioritizing for drop one can keep buying with the DCA strategy irrespective of the price point while making other preparations for buy if any dip shows it's self.