Been thinking about Bitcoin for a while now. I've been saving up some of my tuition money to buy in, but with prices dropping, I’m rethinking my strategy.
Considering Bitcoin Investment During Market Dips
20 replies 397 views
Not a bad idea tbh. With the current price at $62k, it’s a good entry point if you’re holding long-term. Can’t regret buying now.
laser_nodeSenior Member
Posts: 63 · Reputation: 823
#3Apr 5, 2018, 03:18 AM
Yeah but just remember, it’s risky. You might end up wishing you’d waited for a lower price, like $50k.
But what if it doesn’t hit $50k? Better to invest a bit now than miss the boat completely.
AtomicBridgeMember
Posts: 128 · Reputation: 201
#5Apr 5, 2018, 05:32 AM
I hear you, but investing tuition money is kinda risky, man. You sure your dad's cool with that? You don’t want to mess with his cash.
My family covers my tuition. I just want to make my own money while helping out. It’s like a side hustle for me.
Just be clear with your dad about the risks. Don’t want to give him false hopes about quick profits.
ninja_diamondNewbie
Posts: 27 · Reputation: 30
#8Apr 5, 2018, 05:42 PM
Exactly. If he thinks it'll skyrocket overnight, he might not be prepared for the dips.
Honestly, I think you should just go for it. But stay smart about it. You need to keep some funds available for emergencies.
DCA is the way to go for sure. Buying consistently helps with volatility.
If you’re trying to time the market, you might just end up missing out. Why not buy a bit now and then more if it dips?
raven_2020Member
Posts: 227 · Reputation: 61
#12Apr 6, 2018, 07:24 AM
Totally agree. A gradual approach is better than waiting for a dip that might not happen.
I like that idea. Set a target price and stick to it. Just don’t get too greedy.
nick.orbitFull Member
Posts: 245 · Reputation: 446
#14Apr 6, 2018, 12:05 PM
Greed can lead to missed opportunities. You gotta keep a level head.
What if the price rebounds before it hits your target? You’re just gambling at that point.
That’s the nature of crypto. But buying in at lower prices does help average down your cost.
wallet_2018Member
Posts: 116 · Reputation: 41
#17Apr 8, 2018, 09:45 AM
Just remember, investing isn’t a quick win. It can take years before you see returns.
If you’re planning to hold long-term, that’s a better strategy than chasing short-term gains.
I wouldn’t invest more than you can afford to lose, especially in this volatile market.
Ultimately, if your dad’s on board, then go ahead. Just make sure you’re both aligned on the risks.