A community member said that buying more is the strategy and that it was not a dip but a “discount.”
From buying more crypto to dollar-cost averaging (DCA), crypto community members shared their strategies for navigating crypto volatility and market dips.
After Bitcoin (BTC) reached a high of above $48,000 on Jan. 11, the market took a dive toward $38,000 on Jan. 23, leaving traders who bought at the 2024 peak at a 21% deficit. Because of the market dip, Cointelegraph reached out to crypto community members on X (formerly Twitter) to ask about their moves in such a volatile situation.
In a reply to the thread, trader Moe Iman brought up dollar-cost averaging (DCA), which is an investment technique that lessens the impact of volatility by spreading out the total amount invested in multiple purchases of an asset. Iman also said that it’s important to “take profits on the top” and not get attached to the holdings so they can liquidate and re-enter at the right times.
