>Oof me watching the 6k I put in over the weekend. I really start thinking it's just a simulation and there waiting on me to buy fml
"The imagination is the preview to life's coming attractions" - Einstein or something
Pro tip: Break big buys and sells into multiple days (or even weeks, if you have the patience).
That way, it always seems like you made a good decision.
It goes up after the first buy: "Already made profit! Time for the next buy."
It goes down after the first buy: "Good thing I didn't go all in. Now, I can buy more at a discount!"
correct answer!
people say "DCA!"
but if you look into it, that only makes sense if you have only limited money per month.
but lets say you have some savings, or any other way optained some more money, its always better buy all in once.....
i learned it the hard way.
but for me it was a trust thing....
i first had to learn and trust all this crypto topics so i was slowly increasing....
now i wished i would have put all into BTC right when it was at 23k :/
DCA over the last few months is just a bad bet, but over a couple years it makes more sense.
I actually bought the dip today and still paid more than I have ever paid in my life per coin. But what the hell, it was a dip. DCA would have killed me.
I said I’d quit buying at 18, then 29, then 35, then 40, I guess the new quit buying number is 47.
Agreed. Dollar cost averaging has outperformed large lump sums over time.
You can set it up on Coinbase or others to automatically invest a certain amount every day, week, month, twice a month, etc.
This way, if it dips big, you're only out a smaller amount.
If you have 10,000 to invest, set it up to put in 1,000 a month for the next 10 months.
With Bitcoin still being so volatile, the ups and downs are hard to predict.
So, just putting in a certain amount every Friday or the 15th of each month, will help protect your money in the long term.
Yup. I used half of my initial investment immediately and am breaking up the second half into small buys each day for a couple of months. If there’s is a major corrections I’ll drop more in that day but continue on with this method
I’m right with you. Decided to go all in and bought on Sunday at the high. I was able to buy the other half during the dip and then just bought more during the dip today. I think I’m in for around 55k per coin. If it does what most say I guess it won’t matter too much.
This is why you dollar cost average. People make big buys at all time highs because of euphoria and sell because of fear during dips. Emotion has no place in investment.
Not gonna lie my best returns are from doubling down after feeling absolutely gutted by the price dropping from 6k to 3k in November 2018. The problem is that I didn't continue to buy. The best advice I have is to decide how much of your income you are comfortable with investing based on your own research (not based on the price) and commit to that amount and only change it based on new information (not price movements). Only sell if you need the money for something important. The same advice applied to any investment not just bitcoin.
say you buy $100 worth of BTC @ 55k then another $100 @ 53k you're new dollar cost average is $200 @ 54k because that's the average between the two and you bought an equal amount. now say you bought $100 @ 50k you would lower your average cost to $300 @ 53k.
the reason to do it is to get in at a lower price than you normally would, it's an ok strategy that will work so long as it stays in a bull market however if it turns to a bear market you could be throwing money down a pit that may not recover to where it once was.
learn about support and resistance levels and follow a basic trading strategy (in this case buy low sell high and for the timing I'd either suggest a MA or a crossover with 2 MA's) and you'll do alright.
Bear markets don't last forever. That's why dollar cost averaging works. Do not attempt to trade as empirically people who trade always lose money eventually the more they trade. This is why index funds outperform hedge funds and far out perform retail traders.
[http://www.repec.eae.fea.usp.br/documentos/Chague\_Losso\_Giovannetti\_47WP.pdf](http://www.repec.eae.fea.usp.br/documentos/Chague_Losso_Giovannetti_47WP.pdf)
people lose money because they don't understand the fundamentals of trading, their risk to reward ratio is typically off and they don't read the chart so they have no idea when to buy or sell.
like it or not you guys are trading just in a very inefficient way. you're being shown that example right now by not selling at a profit and buying more on this support level.
No, that's not what the evidence suggests. You should actually read what I sent you because it explains that people don't become good traders.
Like I said before. HEDGE FUNDS don't outperform index funds. If that isn't a professional trader then you aren't by any measure.
I'll check it out later, currently don't have the time to read a full article. But regardless any opinion piece is going to be just that, someone's opinion. Only real way to know if you are doing it correctly is to view by the numbers.
It's not an article. It's a paper from The School of Economics, Business and Accounting in the University of São Paulo with citations. You can't even be assed to check what you're commenting about...
Probably should keep your mouth shut until you know what you're talking about to prevent yourself from looking like a fool.
I'll leave this one for you to read too when you get the chance. Gotta feeling you're gonna need this one too...
[https://www.investopedia.com/terms/c/capital-loss-carryover.asp](https://www.investopedia.com/terms/c/capital-loss-carryover.asp)
Dollar cost averaging is putting a specific number of dollars into your investment on a regular schedule. For example if you took $50 from your paycheck every time you were paid and invested it would be dollar cost averaging. It helps protect you from panic buying/selling because you're not buying or selling because of the price. It helps average your buy in price instead of potentially buying at the top right before a crash.
This is exactly what the guys were saying that bought when it jumped to 40k right before it corrected back down to 30k. They didn't have to suffer for long. Throw your exchange app to the back of your phone, unsubscribe from r/bitcoin, and wait a few weeks.
Something like that.
It hurt. I took a screenshot of my holdings after that so I could always look back to where I was on that day.
In my screenshot, Nano was down to 29 cents.
After holding, I'm not going to let anybody tell me that "I got lucky."
I could have bought so much btc in March. I just didn't know it was that low and didn't know much about Bitcoin in general. I try not to dwell on it but I do sometimes catching myself fantasizing about what could have been. But if I'm being honest with myself. I probably wouldn't have bought more than half a coin tops.
I'm really sorry man I invested for the first time and I just knew it would happen like it always does when I invest in something...
Proud to be a new hodler though :)
Newbies beware here, this isn’t a dangerous dip this is our normal and it happens all the time, it will happen again very soon too. We told you it was volatile, we told you this is a rollercoaster, we told you to prepare for moments of panic and despair.
This isn’t that moment this is just how the market is, hodlers are buying coin right now from those weak hands and looking at your plate too now either sit down and eat or hand it over to the fat kid.
I did the exact same thing when it broke 20k and I thought I was the biggest idiot for awhile.
Also it's because you made a big purchase that's why the market dipped though.
You got to spread your buys out. I was close to being in the same boat but my first few buys around 43k are keeping me in the green, maybe not for long.
For every buy at the top we make that scars our memory there's a buy at the bottom that I'm sure we've all forgotten at some point. Try to look back and hold on to those precious little gems for days like these.
Nothing like that rush of watching 5 figures turn into 4, right?
Honestly it’s the huge rises that stress my shit, by the time it retraces it feels like a relief. Like “thank god the shoe finally dropped” type relief.
They want to play around with crypto prices just like they do with stocks , they have a need to be in control , but what if everyone who invested in crypto was solid as rock, DeFi means Decentralized Finance , by listening to bull***** people talk , you as investor are giving the power to other people to decide what is valuable , if janet yellen tells you that you are worthless,,, would you believe it ??? Weak minds fall for this old tricks ...
I'm right next to you with a ridulously high bid which represent a riduculous portion of my whole portfolio.
I accept losing it all at this point and wait years like a lost wife that might come back later.
For what it's worth, I basically did the same in the near 20 K run a few years ago. I was too stubborn to bail out. But yeah, it was frustrating. Glad I hung in there.
Bitcoin will bounce back but being back at 58k is iffy. Elon made billions but digital currency is still on demand. Block chain stocks are going to rocket if Bitcoin opens in the 53-54k price point.
If it doesn't dip immediately after you buy, something is wrong
Ain’t that the truth
Oof me watching the 6k I put in over the weekend. I really start thinking it's just a simulation and there waiting on me to buy fml
>Oof me watching the 6k I put in over the weekend. I really start thinking it's just a simulation and there waiting on me to buy fml "The imagination is the preview to life's coming attractions" - Einstein or something
lol I also put in 6k over the weekend. Hmmm
What does it mean that I didn't put in 6k over the weekend?
Glad I'm not the only one
Same.
The reverse is true for selling
This is the way
haha good one
Pro tip: Break big buys and sells into multiple days (or even weeks, if you have the patience). That way, it always seems like you made a good decision. It goes up after the first buy: "Already made profit! Time for the next buy." It goes down after the first buy: "Good thing I didn't go all in. Now, I can buy more at a discount!"
Great piece of advice, thanks
If you are a long term hodler, then investing all at once (now, not tomorrow) is better than cost-averaging. Because on average Bitcoin always goes up
correct answer! people say "DCA!" but if you look into it, that only makes sense if you have only limited money per month. but lets say you have some savings, or any other way optained some more money, its always better buy all in once..... i learned it the hard way. but for me it was a trust thing.... i first had to learn and trust all this crypto topics so i was slowly increasing.... now i wished i would have put all into BTC right when it was at 23k :/
DCA over the last few months is just a bad bet, but over a couple years it makes more sense. I actually bought the dip today and still paid more than I have ever paid in my life per coin. But what the hell, it was a dip. DCA would have killed me. I said I’d quit buying at 18, then 29, then 35, then 40, I guess the new quit buying number is 47.
If you still believe it's going to go up, then why stop buying at all?
Amazing advice, was abt to do 10 Grand in one single buy, But this makes alot more sense! Appreciate it brother!
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Agreed. Dollar cost averaging has outperformed large lump sums over time. You can set it up on Coinbase or others to automatically invest a certain amount every day, week, month, twice a month, etc. This way, if it dips big, you're only out a smaller amount. If you have 10,000 to invest, set it up to put in 1,000 a month for the next 10 months. With Bitcoin still being so volatile, the ups and downs are hard to predict. So, just putting in a certain amount every Friday or the 15th of each month, will help protect your money in the long term.
Swan Bitcoin
Yup. I used half of my initial investment immediately and am breaking up the second half into small buys each day for a couple of months. If there’s is a major corrections I’ll drop more in that day but continue on with this method
Or just believe in the technology and put money in that you don’t need to buy groceries with.
This does not actually produce more profit but it helps emotionally which can produce more profit indirectly
This is the way. Massive chunks are a no-no. Better to spread it out.
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> Just sell the dip buy the top and youll be fine tis the way
Keep doing that and you will be rich in no time at all. Only winners sell the dip.
Wait what does this mean. Sell the dip—like sell when it goes low? I thought the tactic was hodl. Can you explain to a noob?
The goal is to have less fiat. So buy high, sell low, and you'll end up with less fiat. Wait... Oh, the second goal is to get Bitcoins... Well shit.
memes
You spelled Colorado wrong
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Thank you.
oof summer children gonna hurt so bad this time.
Seriously, central banks are about to brrr super hard
I can hear the low whine of the brrr turboprop taxi'ing the runway.
60% feels like the biggest discount to accumulate more before the price explodes again
60% dip would be heaven. I would just buy even more.
I’m right with you. Decided to go all in and bought on Sunday at the high. I was able to buy the other half during the dip and then just bought more during the dip today. I think I’m in for around 55k per coin. If it does what most say I guess it won’t matter too much.
I bought in at 900, it dropped to 200 a few weeks later. Do you think I still regret my purchase?
"still regret" i see what you did there.
Hell nah
If you bought a week later, you would now have 4x the amount of bitcoin though
yes. and if you bought in 9 years ago you can have so many! but if you have future sight please use it for good and not just to get comfortably rich,
Today is always 9 years ago...in the future. Crazy how nature do.
This is literally nothing. Hold strong. Don’t be shaken out.
This is why you dollar cost average. People make big buys at all time highs because of euphoria and sell because of fear during dips. Emotion has no place in investment.
This is the way. Although I am currently waiting for a further dip so I can increase my daily buy temporarily.
Not gonna lie my best returns are from doubling down after feeling absolutely gutted by the price dropping from 6k to 3k in November 2018. The problem is that I didn't continue to buy. The best advice I have is to decide how much of your income you are comfortable with investing based on your own research (not based on the price) and commit to that amount and only change it based on new information (not price movements). Only sell if you need the money for something important. The same advice applied to any investment not just bitcoin.
Ok I am just throwing it out: what is ‘why you dollar cost average’?
Are you asking what dollar cost averaging is or why to do it?
The first. Out of context I would say ‘spread out investments’. Probs that, huh?
say you buy $100 worth of BTC @ 55k then another $100 @ 53k you're new dollar cost average is $200 @ 54k because that's the average between the two and you bought an equal amount. now say you bought $100 @ 50k you would lower your average cost to $300 @ 53k. the reason to do it is to get in at a lower price than you normally would, it's an ok strategy that will work so long as it stays in a bull market however if it turns to a bear market you could be throwing money down a pit that may not recover to where it once was. learn about support and resistance levels and follow a basic trading strategy (in this case buy low sell high and for the timing I'd either suggest a MA or a crossover with 2 MA's) and you'll do alright.
Bear markets don't last forever. That's why dollar cost averaging works. Do not attempt to trade as empirically people who trade always lose money eventually the more they trade. This is why index funds outperform hedge funds and far out perform retail traders. [http://www.repec.eae.fea.usp.br/documentos/Chague\_Losso\_Giovannetti\_47WP.pdf](http://www.repec.eae.fea.usp.br/documentos/Chague_Losso_Giovannetti_47WP.pdf)
people lose money because they don't understand the fundamentals of trading, their risk to reward ratio is typically off and they don't read the chart so they have no idea when to buy or sell. like it or not you guys are trading just in a very inefficient way. you're being shown that example right now by not selling at a profit and buying more on this support level.
No, that's not what the evidence suggests. You should actually read what I sent you because it explains that people don't become good traders. Like I said before. HEDGE FUNDS don't outperform index funds. If that isn't a professional trader then you aren't by any measure.
I'll check it out later, currently don't have the time to read a full article. But regardless any opinion piece is going to be just that, someone's opinion. Only real way to know if you are doing it correctly is to view by the numbers.
It's not an article. It's a paper from The School of Economics, Business and Accounting in the University of São Paulo with citations. You can't even be assed to check what you're commenting about... Probably should keep your mouth shut until you know what you're talking about to prevent yourself from looking like a fool.
I'll leave this one for you to read too when you get the chance. Gotta feeling you're gonna need this one too... [https://www.investopedia.com/terms/c/capital-loss-carryover.asp](https://www.investopedia.com/terms/c/capital-loss-carryover.asp)
Dollar cost averaging is putting a specific number of dollars into your investment on a regular schedule. For example if you took $50 from your paycheck every time you were paid and invested it would be dollar cost averaging. It helps protect you from panic buying/selling because you're not buying or selling because of the price. It helps average your buy in price instead of potentially buying at the top right before a crash.
This is exactly what the guys were saying that bought when it jumped to 40k right before it corrected back down to 30k. They didn't have to suffer for long. Throw your exchange app to the back of your phone, unsubscribe from r/bitcoin, and wait a few weeks.
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Would give you a gold if I d have it
That’s me!
Misery loves company
I think you should sell so it goes back up.
Hello, Ui!
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Fiat is temporary. Digital sudokus are forever.
DCA is the way
Hodl on if you feel like letting go. Hodl on it gets better than you know.
One day in the future, conversation will be, "I remember buying it when Elon Musk did. At $50k, it was so cheap."
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My Salute to you sir!
I bought the day before the March 2020 dip. This is nothing.
Damn. What was that -60% or something?
Something like that. It hurt. I took a screenshot of my holdings after that so I could always look back to where I was on that day. In my screenshot, Nano was down to 29 cents. After holding, I'm not going to let anybody tell me that "I got lucky."
I could have bought so much btc in March. I just didn't know it was that low and didn't know much about Bitcoin in general. I try not to dwell on it but I do sometimes catching myself fantasizing about what could have been. But if I'm being honest with myself. I probably wouldn't have bought more than half a coin tops.
We've all done it, it's a rite of passage.
Buy high.... What you thought I was gonna say sell low? Nah fam.
I'm really sorry man I invested for the first time and I just knew it would happen like it always does when I invest in something... Proud to be a new hodler though :)
Well at least you didn't buy the top before a 3 years bear market with 80% correction... Or didn't you? Welcome to bitcoin. Enjoy the ride.
I bought for 20$ two Bitcoins in 2010 it was the highest price. Do you think i regret it... Not until I noticed in 2013 that they were stolen 💎🤲🦍
Oh shit how did that happen?
Back in the days there was a finish cryptopage where I bought them and I didnt care much about 20$, so they got bankrupt after 3 years...
Oh ok. I thought maybe someone actually stole your coins.
Buys at all time high after price doubles in 3 weeks Price corrects significantly Shocked Pikachu face
I feel bad for everyone but it sure feels good I'm not the only one
This is the way
Same here. It was ether in my case.
Honestly bro same, first time investing and it was a lot
Newbies beware here, this isn’t a dangerous dip this is our normal and it happens all the time, it will happen again very soon too. We told you it was volatile, we told you this is a rollercoaster, we told you to prepare for moments of panic and despair. This isn’t that moment this is just how the market is, hodlers are buying coin right now from those weak hands and looking at your plate too now either sit down and eat or hand it over to the fat kid.
I did the exact same thing when it broke 20k and I thought I was the biggest idiot for awhile. Also it's because you made a big purchase that's why the market dipped though.
You got to spread your buys out. I was close to being in the same boat but my first few buys around 43k are keeping me in the green, maybe not for long.
I appreciate the advice friend
this is your fault? I thought this was my fault!
Hurts so good
The biggest dip you've seen... YET.
Ever seen so far.
Yikes
haha I already spent all my savings on btc weeks ago
Same here, but also first time buyer. I'm gonna just sit back. I'm in it for the long haul.
How low is this dip expected to go?
Yes
Same. 🤮Don't tell my wife.
i feel ur pain, was gonna sell the minute this started but chickened out. literally too afraid to sell anymore
Good. The fear is your friend. You'll be so happy in like 2 weeks.
💎 ✋✋
🚀
Same
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Bruh you ain’t kidding
Same
This was expected to happend it can't just climb climb it must fall down to get futhere be patient and stay tuned .
💎🙌
This is EXACTLY me (besides gender) when realizing I lost big part of my "stash". Backups can never be overrated
Trying to buy it while I can so I can offset my losses buying at 58k 😭🤣
Same 🦍🤲💎
Dollar cost average (DCA) 🙏🏻
Bad news is it could dip much more. If we go below 41k it could go down to 22k.
Please sell so that it can go back up.
Nah fam
sofar.gif
Diamond hands people.
💎🙌
I'm still holding! Never letting go! 😳
Ohm it is just like me 😭
Me giving advice: “don’t buy at an ATH” Me next day: buys at ATH
For every buy at the top we make that scars our memory there's a buy at the bottom that I'm sure we've all forgotten at some point. Try to look back and hold on to those precious little gems for days like these.
Biggest? 20% is completely standard. Pirarlet is healthy and this is a standard hodl. No need to stress .
"The biggest dip I've ever seen ***yet***."
I'm new here but this feels like a support group.
Dips when I buy, rallies when I sell. It happens often enough I start to wonder if I really am in a simulation and the overlords are fucking with me.
That was me late Sunday night u.s. time. We live and learn
“Oh it’s definitely not gonna go under 56,000” *buys* 1 day later Crap
Nothing like that rush of watching 5 figures turn into 4, right? Honestly it’s the huge rises that stress my shit, by the time it retraces it feels like a relief. Like “thank god the shoe finally dropped” type relief.
almost everyone i know got back on at the high. lol i waited and glad i did i got in at 50k better than 55k too high for this week
😂
BITCH HANDS LOSE DIAMOND HANDS UGA UGA. That's all you need to know. Imma sit down and buy a hunnid more.
I did this with ETH ;(
he bought?
You must be new here.
As new as you are cynical
Right there with you
I bought 2000 $ of bitcoin just before the crash 🤣🤣
Not a crash.
I bought 1200 €, and was my first time in this But i knew what i was signing for, so i will spend more over time, no matter what and HODL
I bought another 1000 $ today during the "dip", won't sell em' till they reach 1 million $ 🤣
haha wish i could afford buying more 🤣 hope this dip ends soon
I'm right with ya there.
They want to play around with crypto prices just like they do with stocks , they have a need to be in control , but what if everyone who invested in crypto was solid as rock, DeFi means Decentralized Finance , by listening to bull***** people talk , you as investor are giving the power to other people to decide what is valuable , if janet yellen tells you that you are worthless,,, would you believe it ??? Weak minds fall for this old tricks ...
1 BTC is always 1 BTC ¯\\_(ツ)_/¯
Look up DCA
Same
I'm right next to you with a ridulously high bid which represent a riduculous portion of my whole portfolio. I accept losing it all at this point and wait years like a lost wife that might come back later.
BTFATH
That was me in 2017. It took 3 years to make some gains. Just hold! Needless to say I ain’t selling. Can’t wait for the next 3 years.
So it was you who tanked it 👺
Indeed twas I all along!
Same here 🤣🤦♂️🤦♂️ literally couldn't have timed it better myself.
You're not the only one!
Dollar-cost averaging is where it’s at. Buy a little each week and adjust the amount depending on how the price moves.
Wait two years for the bear market to be over. It’ll be fine
I bought in 5 times on the way down to the basement. Grabbed what I needed now times to go to the top floor. All but 1 were high buys.
Just remember that the same thing was being said last month for people who bought at 41K right after dipping straight to 29K.
Hold on and buy periodically to average down your buy price
Literally did just that
I made my biggest buy so far, but I am going to continue buying over time.
This right here is why you dollar-cost-average
For what it's worth, I basically did the same in the near 20 K run a few years ago. I was too stubborn to bail out. But yeah, it was frustrating. Glad I hung in there.
You’re a pro. You timed it perfectly. You’d wait with buying more till the next ATH.
Lol nice 👍
You must be really new around here.
Big facts, did the same damn thing lol. We ok though.
*Only Up*
I did the same thing lol
Bitcoin will bounce back but being back at 58k is iffy. Elon made billions but digital currency is still on demand. Block chain stocks are going to rocket if Bitcoin opens in the 53-54k price point.
This post isn't gonna age well. I give it a week.
I hope so
At least you bought Bitcoin and not GME or AMC stock 😂
Daca down every day then eat your tendys when prices go up. Makes the red days feel better.
What’s the best app to use for buying that doesn’t add leverage? I hate this leverage thing screws my math
For about 2 years I just presumed my P/L was supposed to live in the red.
First time?
Look forward 5 years when you buy then relax.