Hello to Hive Fam!
I hope that life is treating you well wherever you are in this part of the world.
Buying the dip is a very common strategy discussed in many markets, like in the stock market and now in the crypto market. Wherever we see some correction in the market, these kinds of lines we often read, and it truly makes sense. The meaning is very simple- that we can buy the dip translates to buy when prices are down. I have always struggled with one part in the stock market, that how to identify the bottom price. I think that the dip is good as long as we're able to buy at a lower price, but figuring out the bottom is very difficult.
It does not matter how much experience you have, but it will always be challenging for everyone, I believe, to figure out the bottom because we just can't predict the market, and you also never know what is going to happen in the next moment in any market. I truly believe that when we get to see a lot of blood in the market, it is the time for us to enter and buy something, but with slightly longer.
Because you never know how things are going to be. If you are buying in the market when there's a lot of correction, but you're buying for a short term, I believe you're mistaken because many times this formula did not work for m,e and I had to hold for a very long period to get the returns out of it.
I can surely say that it is a good strategy to buy the dip, which means when the market is down, go for buying the assets that you have been tracking for some time. But keep the goal for the long term, and in most cases, this will be a good investing decision that will bring better profits. This strategy has worked very well so many times for me to get familiar with and understand more about it.
I believe in every market it is very important to spend a few years to have a fair understanding of it, but I also understand that at any point in time, you will never become perfect, but learning is a continual process that we should follow, and I do try my best to follow as much as I can. These days kind of attention the crypto market is getting is nice, but at the same time, we also need to understand that it is not a place where people can become rich overnight.
I would not argue because possibly there are cases where people became millionaires overnight, but I consider that an exception, and not everyone is lucky enough to be one of them. So the right approach is going to be like investing with proper study and research, and holding it till the time it does not meet your goal.
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Buying the dip is my strategy, which might help you a lot to make your buying price better, but that does not mean it can get you instant profit. No matter which market you are investing in but you need to be careful and spend enough time on the research and study because that is what's going to help you a lot to bring better profitability. Buying is not the only strategy to follow, but it is surely a good strategy to follow.
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