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I bought the dip on Thursday ... the dip grew bigger!

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Avatar for PVMihalache
Written by   600
2 months ago

I usually don't care about the dip and I don't buy the dip! I am a legendary HODL-er and I watch the crypto evolution while zooming out! When the market bleeds I watch and enjoy the show, knowing that the value over the last 2-3 months increased more then will drop. I laugh about those panic selling and I appreciate those who will buy the dip to consolidate their assets.

This time was different because the dip lasted for a whole week and my portfolio value dropped by 60% from the peak! I decided that Thursday 20th of May was a good day to buy some new assets and take advantage of the discounted price!

My first purchase was $CHZ, motivated by the expansion of FAN tokens. New and new tokens where added in the Chiliz Ecosystem. I considered $0.30 per CHZ as a fair price and bough 1336 tokens for 409.77 USD.

My second investment was $REN, buying 500 tokens for 263.51 USD. I didn't knew much about REN but I knew they are used on Harvest Finance for yield farming pools and LPs.

I dream that one day I will book my holiday paying with crypto! Travala brings this dream closer and this was the reason why I bought 380.99 AVA tokens. I paid $1113 for the whole stash and I sent them on Travala to earn rewards.

After "buying the dip" ... the dip kept dipping! The good deals I was planning were losing value up to the point where I nearly lost hope in the recovery of the crypto market. The may market crash felt similar with the 2018 downhill, but at least this time the dip stopped and only halved the value of crypto. Back in 2018, some cryptocurrencies lost 90% of their value and most waited for three years to reach new All-time Highs!

Two months later, the situation is still gray, as all the investments are still under the purchase price. However, I am not planning to sell soon so doesn't matter if will take few more months for the market to get back to rising tides.

I bought 1336.34 CHZ for $409 and they went into the Binance Flexible Savings where I earned 2 more CHZ in 2 months. The current value of my initial purchase is $324, still $85 down but not as bad as the start of June when the total value was 167 USD.

I spent $263.51 on 500 REN, going ape mode on something I didn't had too much knowledge. Consider this my crypto gamble for 2021. Two months later, the same 500 REN are valued at $159. The value is recovering after the May's crash and hopefully will pump again. This investment is currently $104.50 down but showing positive signs.

The biggest investment in 2021 was in Travala (AVA), the holiday booking platform that accepts crypto payments. I paid $1130 for 380 AVA tokens, which I sent to Travala.com to activate my Smart Membership (add referral). Locking 250 AVA entitles me to 8% interest on my tokens, 2% discount and other offers

The value of the tokens dipped even more after I invested, and the AVA price nearly went close to 1 USD. The value started to improve since the end of July and at the moment, my AVA stash is valued at 745 USD. I am still 385  down based on the USD value of the investment but PVM is "no scare" as Senor Lupe will say.

Buy the dip, they said ! Will be fun, they said! Two month after I spent $1785 on REN, Chiliz (CHZ) and Travala (AVA), the combined value of all three tokens is 989 USD. I am currently 44% down, but at the start of June I was 80% down.

Hopefully in few months of HODL mode it will go back at the I amount initially invested. 

 

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Avatar for PVMihalache
Written by   600
2 months ago
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Comments

Just your luck, I buy some crypto today, let's see the market later. Huh!

$ 0.00
2 months ago

UwU, when I thought I already buy the dip, but it dumps more. So just like you I'm just hodling mine. I'll wait for it's comeback, no matter what 🙈🤧

$ 0.00
2 months ago

The problem is that you don't know what the bottom of the dip is. So cost averaging is utmost important!

$ 0.00
2 months ago

I was thinking that was the bottom... no one expected such market drop

$ 0.00
2 months ago

Hahaha this video is good for you then

https://youtu.be/61Q6wWu5ziY

$ 0.00
2 months ago

That's fine ! As JT always said... what goes round comes around!

$ 0.00
2 months ago

Well, it will up for sure after the ultimate dip

$ 0.00
2 months ago

Damn, those dips lately have damaged us a lot. This summer didn't go as planned, we buy the dip and it dips more, we lose profit from our investments, its been a difficult ride so far.

$ 0.00
2 months ago

I was waiting for the big DeFi summer and then the market crash came! I was -80% from the ATH but I survive. Now is time to be patient and wait for crypto to grow back

$ 0.10
2 months ago