- Waiting to buy the dip will always result in you waiting forever
- Stop the idea of waiting to buy the dip and buy the now
- As soon as Bitcoin reaches a new all-time high, no matter where you bought in at you’ll be in profit
With Bitcoin now spreading its tentacles to the mainstream media, more and more people are looking to join in the action. But, many people still don’t know when to buy in, and for some, this is a huge issue.
As a result, a lot of people simply say “ohh, I’m waiting for the dip”. But, no matter how much or when a “dip” occurs, these people don’t get in, largely owing to the fact it’s not a $15,000 dip. This mentality will leave you on the sidelines forever, so scrap the “waiting for the dip” mentality if you want to join the Bitcoin world…
You’ve Been Warned
If you’re not planning on buying any Bitcoin, or joining the Bitcoin world, stop pretending that you are and walk away. On the other hand, if you’re looking to join but have no clue on when to buy, this piece of advice will stand you in good stead. Buy whenever you are ready and want to. Not when some “pro trader” says you should on YouTube. Not because some JP Morgan analyst says Bitcoin will be worth $300,000 be December 2022. And not because some guy in a bar said it’s a good idea. Do it because you want to and can afford to.
On Jan 3, 2021, Bitcoin was at its highest price ever, meaning no matter when you bought Bitcoin in the previous 12 years, you’d be in profit. Bitcoin will continue to grow in terms of value, and if the past few weeks are anything to go by, it won’t be long before we see yet another new all-time high.
Just Wait it Out
If you bought Bitcoin at $34,800, then you could still be in the red, but if you hang on in there just a bit longer, Bitcoin will smash its way to another new all-time high in the near future. It might take a week, it might take a month, but Bitcoin will get there. So, do just as those who bought at December 2017’s all-time high did and hodl it out – it will pay you in the long run.
Bitcoin has outperformed virtually all other investments in the past 12 years, and there’s no reason it won’t do the same in the next 12 years. So, whatever you do, scrap the “buy the dip” mentality and buy whenever you can. You’ll appreciate this advice in a few years when Bitcoin is sat at $100,000….