How to buy the dip

in #bitcoin6 years ago

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Step 1: Determine the mining cost. Historically the network won't allow the price to get bellow the cost it takes to mine a whole coin. (For example the mining costs of one bitcoin is around 4k right now)

Step 2: Wait till the price get below 1.5x the mining price (So anything below 6 k is great for our current difficulty, historically very few times we have reached break even price for miners). Step 3: Start buying. Don't just buy all at once. Start averaging in, with bigger buy orders closer to the mining break even price.
Look back at my post earlier this year where predicted a bear market this year and reaching bottom around 3.8 k around january 2019 (408 Days After all time high). With the difficulty increasing faster than expected I expect the lowest possible bottom to be slightly above 4k.
In 2019 we will see the mining price at around 36 k due to the difficulty. I expect to end 2019 with BTC above 100k maybe even a 200k peak if driven by the hype of a collapsing fiat currency system.
This is not financial advise.
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