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I keep hearing "buy the dip" constantly with Bitcoin people/comments.

I get that it means that you should buy Bitcoin while the price is temporarily low, but what do they mean by it? Do they assume that people have a bunch of money just sitting around waiting to be spent? If they have the ability to buy Bitcoin, and they have money, why would they not have already done so, and thus have no money to spare?

Am I just unique in that I don't have any massive streams of income constantly flowing into my bank account for me to "buy the dip"? For me to afford a single small purchase on Bisq, I'd need about $500, which translates to several full months of me saving all the money I don't absolutely need. To buy a little BTC once. And then my bank account is drained again, and I have to start over saving for months to make another such minor purchase.

What do they mean by "buying the dip"? Do people normally have enormous amounts of money piled up just "waiting for the right time to invest"? Are they deliberately acting arrogantly as to pretend that they are super rich and assume that everyone else also is? Do they genuinely not understand that others aren't as super-rich as they are? I don't understand it.

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You're spot on!

I don't have enormous gobs of cash sitting around (who does?!) but as I get paid monthly I have some sitting ready for bills or going out next week. Buy the Dip - or more bluntly - Buy the F'ing Dip (BTFD) - is a reminder that:

  • The dip will be temporary
  • Don't later regret that you didn't buy
  • Consider buying a dip IF YOU ARE ABLE TO

Interesting commentary from Dr Adam Back talking with Preston Pysh and PlanB on Preston's podcast recently; accepted experience/wisdom was to ignore dips below 20% - that is a "dip" of 10% wasn't even worth the definition of "dip". Larger dips of 20%+ are therefor worth buying if you're able.

For me, I dollar cost average with a daily buy so I don't really watch the price - some days I get more sats, some days I get less sats, but at the end of every day I have more sats than yesterday.

Over the long term bitcoin will rise in value, and therefore I've protected my savings (future purchasing power). It's that simple. I'm not a trader. I don't have great gobs of cash sitting around. Work in a job and earn living, pay my bills, and save in bitcoin.

Do what you're able. :-)

PS - During the 2017 bull market there were about half a dozen dips of 30%; this dip is the first half decent one so far. aka: this is normal for bitcoin.

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