Are you Still Buying the Dip?
The Crypto market is in bearish mode and now I hope that many of you would agree since the recent movements clearly confirmed it. There is no prediction if it can turn bullish because anything can happen in the market and its hard to predict. Last week Bitcoin did some jump in price and crossed the mark of 42k USD but now again back to the price mark of 38k USD. Its kind of a similar scenario that we had seen in 2018 and 2019 when the price was moving bet week 7-11k and whenever it was above 11k then people used to start saying that bull run is starting up.
I am not against the bull and in fact, I will be more than happy if we get another bullish trend in the same however looking at the history it never happened. So the question arises that are you still buying the dip and why?
I think that this time most of the coins have gone down by almost 50% or more so its a buying opportunity and wait for the right time to sell and this time can also be few years. Yes, I am buying the dip and even I buy every day through SIP but I also buy few coins there is a massive dump in price and DOT is also the one I keep a close eye on.
Crypto investment is not one day game that you play and win and this is how you become rich instead its a place where patience is needed and panic sale is never encouraged. With more patience, you get a better opportunity to sell and if you believe in crypto then you need not worry since you know it will be growing in the long run so just keep on accumulating.
I am not an expert in crypto but I am learning a lot and going through various videos and articles to explore more of it. I have been buying bitcoin since last year when its price was 8k and now its almost 40k so my initial investment is 5x already but I am still not selling since I have a bigger goal. I have seen bitcoin at $4k and even at $65k so I expect that by 2025 we are going to have bitcoin more than 100K USD on the least side and then if I sell then I would be able to fetch awesome returns than selling now.
Crypto is not going anywhere and its here to stay so bitcoin is also not going anywhere and it will keep on growing with increased worldwide adoption. If you look closely in crypto space then you will see that millions of people are coming to crypto every day and this will lead to great adoption for sure and prices are bound to grow. Its just a matter of time and things will move to the next level once started.
I don't invest too much money in crypto because I invest money-saving only and to be honest, I don't earn too much but still, I believe in crypto do invest as much as I can for the long term so that after 5-10 years I would have good corpus with me. I have stopped investing in gold, bank deposits, and the same I do in crypto because I see it as way more profitable than traditional instruments. I surely invest less but I am disciplined and this is helping me to get better returns.
So I can say that yes, I am still buying the dip and will continue to do so.
Thank you so much
Stay Safe
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I think $38k is a very key support, if it breaks further, we might be seeing a $35k in the short term, however if it holds strong there, then 40k and 45k are on the table. Nice investment strategy, I also prefer crypto to traditional offerings. Plus, 5-10 years of holding gems will surely have a good impact on one’s portfolio.
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I agree with you that 38k is great support fr bitcoin and if it holds strongly then we surely expect the next mark close to 45k.
Thanks that you liked my strategy. I always say that I am here to learn and I am glad that I am learning every day. Indeed I hope that after 5-10 years crypto should be a kind of different world. thanks for stopping by my friend.
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Dot is also the one I am watching closely as well, dollar cost averaging in. So much potential and so undervalued.
DOT is in my list to and I buy whenever there is a dip. I am not able to find DCA option with this but hope it should be available
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I am but slowly and steadily. I learned that to be able to HODL you need to buy little by little with no leverage. Therefore you are relaxed with your risks and can hold while drinking a 🍹 or a 🍺 .
Enjoy the ride !
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