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:

Don’t cry when you see those big red candlesticks.. you have to buy the dip to get the gains.

This design is available on art prints, accessories, and apparel at the hodl art shop.

BTFD Buy the Dip Get the Gains-01

Hold On for Dear Life

10 HODL Commandments for every true HODLer to live by

We crypto holders, also known as HODLers, have been holding our bags of bitcoin and altcoins for a couple months since December 2017’s all-time-highs with no profits in sight.

We have received a message from the crypto gods to guide our efforts to HODL our way to crypto paradise.

10 HODL Commandments for the chosen few, the HODLers

1) Never Sell

Thou shall put no other forms of currency before cryptocurrency. Selling Bitcoin for fiat is the ultimate, unpardonable sin.

2) Buy the Dip

Thou shall acquire more cryptocurrency during major price dips in fiat value.

3) Take Profits in Bitcoin

Thou shalt never use fiat value as a measurement to take profits from altcoin investments. Only sell altcoins for profits measured in Bitcoin value.

4) Ignore FUD

Thou shalt not take seriously any news which causes fear, uncertainty, or doubt; including government bans, exchange hacks, or anti-crypto headlines from mainstream media.

5) Transact P2P When Possible

Honor the decentralized philosophy of distributing economic control away from central authorities by using peer-to-peer transactions when possible.

6) Spread the Good Word

Sow seeds of belief in the future of crypto with friends and family. Share information to help educate them so they can make their own decisions.

7) Control Your Private Keys

Thou shalt never put blind faith in a third party exchange for the safety and security of your cryptocurrency. Always control your private keys.

8) Don’t FOMO Buy

Thou shalt not be distracted by other coins with pumping prices and market cap rankings. Selling the coins you believe in for fear of missing out is not part of an acceptable plan for any true hodler.

9) Remember the Halving

Remember the Bitcoin halving once every four years. Keep it as a holy day for the observation of the scarcity and value of coins with limited supply.

10) DYOR

Thou shall always Do Your Own Research before investing in cryptocurrency or blockchain projects. Never take one single source as the truth.

 

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