28 JAN 2021
Bitcoin Price Dips
How You Can Take Advantage of Falling Crypto Markets
If you didn’t see it, Bitcoin Price went on a little trip south to $29,330 yesterday. Did you take this as a buying opportunity before it went back above $30,000 dollars?
Remember to always buy the dip! Buying a little at a time no matter the price can really help you to succeed and be profitable long term. The term used to describe this method is Dollar Cost Averaging.
Remember to always buy the dip! Buying a little at a time no matter the price can really help you to succeed and be profitable long term. The term used to describe this method is Dollar Cost Averaging.
When you use Dollar-cost averaging to invest in an asset you don’t need to worry about investing all of your money in at one time. This helps to keep your mind at ease knowing that even if you are getting in at the top, you are allowing for a potential dip where you can pounce and invest more.
For example, You have $5,000 and you would like to invest in Bitcoin, but you are worried that the price is too high and is currently trading at $40,000 you could decide to only invest $2500 to start. Then say the price dropped to $35,000 USD, you could invest another $2500 at a reduced price increasing your Bitcoin holding by an extra 12.5%, not bad, right?
Now if the price goes back to $40,000 your overall holding will be worth more to you than if you had just invested the full amount.
I always say… KEEP BUYING THE DIPS… even if it’s $10 here and $50 there, this is one strategy that will help you build a profitable portfolio long term if you are a believer in cryptocurrencies and feel that it is the technology of the future.
We are now around 33% off Bitcoin all-time-high of 2021, which’s roughly $41,900 so if you thought that it was too late to buy then now could be your time to catch a potential opportunity and maybe gain a 30% increase.
For example, You have $5,000 and you would like to invest in Bitcoin, but you are worried that the price is too high and is currently trading at $40,000 you could decide to only invest $2500 to start. Then say the price dropped to $35,000 USD, you could invest another $2500 at a reduced price increasing your Bitcoin holding by an extra 12.5%, not bad, right?
Now if the price goes back to $40,000 your overall holding will be worth more to you than if you had just invested the full amount.
I always say… KEEP BUYING THE DIPS… even if it’s $10 here and $50 there, this is one strategy that will help you build a profitable portfolio long term if you are a believer in cryptocurrencies and feel that it is the technology of the future.
We are now around 33% off Bitcoin all-time-high of 2021, which’s roughly $41,900 so if you thought that it was too late to buy then now could be your time to catch a potential opportunity and maybe gain a 30% increase.
Remember, your objective should not be to worry about the dollar value of your Bitcoin portfolio, your objective should be to accumulate more Bitcoin than what you hold right now so that it will be worth more in the future when the price rises, and whether you do that by buying the dip or trading it (automatically with Yanda of course) is up to you!
If you don't have an account with Yanda yet then you can sign up here. Yanda is an automated crypto bot trading platform that gives you the best trading tools to help you automate your crypto trading, and to help you accumulate more crypto. Yes, you can buy more Bitcoin but isn't it better to accumulate more and trade using crypto bots.
If you don't have an account with Yanda yet then you can sign up here. Yanda is an automated crypto bot trading platform that gives you the best trading tools to help you automate your crypto trading, and to help you accumulate more crypto. Yes, you can buy more Bitcoin but isn't it better to accumulate more and trade using crypto bots.
Author: Chris Wyatt
