When you got some money and you want to buy crypto, it's good to wait for the dip when the price falls before buying. That is, if you think it's going to keep going up, you wait for that little dip.
But if you think it's going down more, you wait even long. The problem is, when do you buy in? When is that low point? When do you pull the trigger and buy?
You can DCA and buy a bit here and there. That's good. But buying at the low is the best. Except you don't know when the low is.
So let's say you're waiting for that perceived low point. And then the price goes up. Well now you're thinking, shit, was that the low? Should I buy up now?
Yeah maybe. Maybe not. Maybe it's just someone buying in and then the downward pressure will resume shortly after. FOMO can kick at that point.
Get in NOW, or wait and the price MIGHT go up MORE! Uh oh, I better buy now before it gets higher and higher!
Well that happened to me with some CUB yesterday. I was waiting for CUB to go lower, but then it started to rise, and rise some more, so I went in and bought some, rather than wait for it to go back down which I was pretty sure it would.
Oh well. Live and learn. It could have kept going up, so whatever. I got MOAR CUB NOW! :D