I Love it
I just LOOOOOOOVE buying the dip.
I have bought the dip all the way from 40K to 15K.
I have this problem......
Any time I can get a >20% discount I am buying.
I am not a DCA Dude, I am a Discount Dummy.
I don´t do monthly buys, it´s like overpaying on average as the market goes up more than it goes down.
I buy when there is blood in the streets.
And that is a really smart thing... I think.
It made me a lot of additional crypto last bull market.
The Flipside
There is a dark side to my love for the dip. That is when it gets the best of me.
Being such a clueless Bullish Baby in crypto wonderland I was sure we would do that 100K BTC in 2022.
Hence I bought the dip from April 2022 with BTC @40K all the way down till SBF blew up our crypto-verse.
And that Dear Reader was not buying the dip, that was plain stupid (both from me & Sammy).
Of course, we can argue that long-term it might have still been a smart buy-the-dip move, especially if I had bought BTC only.
But I bought ALTS, on their looooong way down.
Those Alts went down another 80% from when I started buying the dip. And I was soooooo sure we would do a 100K BTC, or go up to 70K at least once more in 2022 after that double top in 2021.
Fast Forward
Slowly, very slowly, after 2 years those coins are coming back. I might break even on them in the long run, but we are not even close at this moment. I think the worst still need a 3X on average.
Did that stop me?
*Not at all. *
I have been buying the dip throughout 2023 as well.
On top of that, I even bought the two small 20% dips in 2024. But dips are not what they used to be. The last 25% dip was in March 2023. But at the current 20% down I am gladly buying the discount.
But that has to stop.
I have to quit buying the dip.
But how?
How Do I Stop?
When buying the dip is just so tasty, and I am such a sucker for a good discount. Especially when I have lots of stables on my balance sheet and prices go up 70% of the time.
The Worst Part
The worst thing is my mind knows, I know that buying the dip soon will be bad for me.
Let me explain why;
We are going to go parabolic, which will make most coins do at least a 3-5X within the next 2-6 months.
In those 6 months, we probably have 2-3 >20% dips.
Six months from now everything will be up, probably 10X year over year.
When that happens buying the dip will become a dangerous hobby.
At that point, there is much more downside than upside.
Buying at that point will make your bags expensive. Yes, you are still growing your bags and getting a discount but at a price.
A high price.
A risky price, because do you want to add to a bag when for example FTM drops 20%?
Say FTM drops from $3.60 to $3 per coin.
Would you buy?
It is a beautiful discount.
You might sell them at $3.90 and make 90 cents profit per coin!
A coin you could buy for 30 cents a year ago.
A coin other people bought for 30 cents a year ago.
A coin that those who bought at 30 cents gladly sell you at $3 taking $2.70 profit per coin, while allowing you to take 90 cents.... if you are lucky.
Adding to your bags by buying the dip in this last part of the bull run will make your bag expensive.
Especially when you hear everyone taking 5 to 10X. Because then you are not gonna take that 90 cents profit per FTM coin.
You want a 10X, or at least a 5X.... that will never come.
And you end up holding the bag.
Lessons Learned
You probably did not know but you just messed up.... Twice!
First and foremost, you got greedy. You wanted to have what she was having.
Secondly, you thought buying the dip would make you rich because everyone told you to buy the dip.
But there is this other saying, and maybe this lesson will make you remember.
And I know it´s hard to resist, those red days will make you FOMO and eager to buy back into a bull market. Maybe it´s because bulls love red...
I think it´s because I am addicted to discounts...even in real life.
And I need to quit, but can I go cold Turkey?
Yes I can, I just put my desire to buy in a Turkish fridge.
Can I really quit?
Can I truly stay clean when my desire is in the fridge?
Well if it´s anything like staying clean when there is beer in the fridge I know the answer.
The answer is NO
I can avoid buying dip #1, and even dip two, but when dip #3 arrives and I had a hard day I will take a beer from the fridge on a non-alcoholic beverage day and I will take the stablecoins next to the beer and buy the dip.
But there is a trick...
As I know myself a bit, I found a way to stop myself from drinking too much on a non-alcoholic beverage day. I will only put one small beer in the fridge, just so I can have that little bit of satisfaction after a long hard day and losing the battle with my self-control (again).
Hence, I will do the same with crypto.
When Do I Stop Buying The Dip?
Soon, very soon ALTS should explode between today and the 3rd week of April and then they will go parabolic and I will go on a buy-the-dip diet.
A diet that allows me to buy the first dip for 150 dollars.
The second big dip I only get 50 dollars + the profit I made on the 150 dollars.
On the third dip, I get nothing and will only be allowed to buy with the profit I made from my buy-the-dip diet fund.
This will trigger me to flip those buys in approximately 30 days, ensuring I have a filled buy-the-dip bag when the next dip comes knocking.
At the same time that will stop me from getting greedy, and holding overly expensive bags, while I still can enjoy each fresh dip and buy the discount.
Bikini Bottom Line
The bottom line is simple, I don´t want to hold ALTS when the Bulls stop running. I told you that before, and the biggest risk to that plan is me buying the dip. So I came up with a plan, to counter my bad habit....my buy-the-dip addiction. And I for sure will let you know if it´s working or if I need to go back to Mcdonald's and join the DBA (Dip Buyers Anonymous).
Thank goodness you made it till the end Pees, Love and I am out of here!
[Source Pic](All pics by MYI & AI unless watermarked or mentioned)