31 Mar BTFD – Buy the Dip to Get the Gains
Buy The F***ing Dip
Similarly to “HODL” (Hold On for Dear Life), “BTFD” (Buy the Fucking Dip) is another term used in the crypto world, which encourages investors to take advantage of lower prices in a falling market, as opposed to panic selling which is the worst thing you can do when prices are down.
The truth is that timing the market in the long-run proves to be a losing strategy for over 90% of investors and traders. Hindsight is always 20/20, but the truth is that very few could have predicted what’s happened in the crypto market over the past 5 or so months.
Once Bitcoin crossed the $7,500 and $10,000 levels, even the most renowned technical analysts such as Tone Vays didn’t even know what to say about which direction the Bitcoin price would go.
Buying the dip, which means buying coins when prices are down, has been a winning strategy for Bitcoin investors since 2009. This concept isn’t new. There are quotes as old as Finance recommending to “buy when there’s blood on the streets”.
With this in mind, it’s safe to say that one of the easiest and fool-proof strategies one can use is to both hold your coins long-term and buy the dip when prices are down to accumulate more.
You can find some rather amusing tweets on Crypto Twitter just by searching the #BTFD hashtag.
Here are a couple of my personal favorites:
about the sleep
— Rick ₿TC-137 (@RickBTC137) February 24, 2018
BTFD at the same price as the high volume before previous pump, Sell on the moon, Move to mars.
— Needacoin (@needacoin) February 24, 2018
Don’t cry when you see those big red candlesticks.. you have to buy the dip to get the gains.
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Hold On for Dear Life