I found that many people are still too fixated on the relative bottom price of Bitcoin,

for example, insisting on buying when Bitcoin drops below 50,000, but if it drops below 50,000, they fear it will continue to fall and wait for 40,000, resulting in never getting on board.

In fact, I have always had a personal viewpoint: when buying Bitcoin or any other core asset, do not be too obsessed with the price!

The price is just a representation; does it have the ability to transcend cycles in the long run? How much time are you willing to invest to exchange it for future space? If you haven't figured out these questions, you won't be able to hold even at the lowest price.

If you have figured out these questions, you won't pin all your hopes on a single "perfect low point."

I personally started dollar-cost averaging below $65,000 in BTC.

Now AHR999 / AM120 related prices have broken through, currently BTC is around 78,000, and many people are starting to ask:

Is this position still worth buying?

My answer is simple: if your cycle is 4 years or 10 years, rather than 4 days or 10 days, then of course it is worth it.

But the key is not "whether to buy now."

The key is: you need to establish a buying system that won't be destroyed by emotions.

1️⃣ Precise bottom fishing, in essence, is an illusion.

The greatest characteristic of the market is uncertainty.

You think the optimal solution is:

"Wait to buy below a certain price."

But in reality, this strategy is very fragile.

Because you cannot determine whether the market will give you that price.

Even if it does, you cannot be sure if you will dare to buy at that time.

So a truly mature strategy does not pursue the optimal point but accepts a suboptimal solution.

Leave a little redundancy.

Leave a little margin of safety.

Leave a little space for "not following your script."

Many people lose in investing not because of misjudging the direction, but because they want to wait for a perfect answer.

But the market never gives a perfect answer.

It only gives fuzzy ranges.

2️⃣ There is no "precise point," only "relative range."

Many people understand the "best entry point" as the lowest price.

But the truly actionable "best entry range" is:

Buying does not necessarily cause an immediate rise;

But the space for continued declines is relatively limited;

Even if you're temporarily stuck, it won't affect your long-term holding mentality and cash flow.

This is what we call high cost-effectiveness.

Correspondingly, in terms of market emotions, it usually boils down to four words:

Torn + Silent.

Some people curse, some cut losses, some play dead, and some never want to look at their accounts again.

People no longer discuss getting rich quickly, but only about recovering their costs.

At this time, the market begins to approach a relatively safe position.

3️⃣ What is a relative bottom?

A relative bottom is often not at the moment of a crash.

During a crash, emotions are still very intense.

What is truly difficult to endure is the "garbage time" after the crash.

You will see several characteristics:

Trading volume is very low.

Emotions are very cold.

Volatility is very small.

Accounts change almost not at all day by day.

The market feels like it's dead.

No one wants to discuss.

No one wants to build a position.

And no one believes the market will come back.

I call this phase:

Garbage time.

But experience tells me:

The longer the garbage time lasts, the closer it is to the bottom.

This time period is tormenting for most people.

Because there's no money to be made, no hope to see, and no feedback.

But for those with a system, this is the most comfortable window for accumulating positions.

Because the market has finally calmed down.

You don’t have to rush.

You don’t have to chase.

You don’t have to prove yourself.

You just need to follow your plan, gradually picking up your chips.

4️⃣ The truly replicable method for building positions: Space + Time

How to better arrange positions?

The core is only four words:

Space + Time.

First, set two anchor points:

The first one, the initial entry point: it is recommended to base it on MA120.

The second one, the maximum tolerance point.

For example:

Your initial entry position is 75,000.

Your maximum entry position is 55,000.

Then the $20,000 space in between is not for guessing, but for planning.

I will follow two lines at the same time:

The first line: the spatial dimension.

For example, add a little every 1,000 decline.

The more it drops, the more you buy.

This way you won’t be completely out of cash during the decline, and you won’t shoot all your bullets at the beginning.

The second line: the time dimension.

For example, add a little every week.

No matter if the price has a big drop, as long as it is still in your defined relatively low price range, continue executing.

Why must it be two dimensions?

Because the most counterintuitive part of a bear market is:

You think it will crash, but it tends to consolidate.

You have bullets ready, but the price doesn’t give you a chance.

If you only look at space, it may never drop to your buying point, and you will never buy enough.

If you only look at time, it may drop all the way, and you will feel that you bought too early.

So the best way is to walk on two legs.

Use price declines to enhance your buying power.

Also use the passage of time to ensure you stay on board continuously.

The ultimate goal is only one:

When the market is at its most silent and when no one wants to buy, bring your positions to a "just full" state.

Any more, and you won’t withstand extreme situations.

Any less, and you will miss the cyclical recovery.

This is called:

Full positions under controllable risk.

5️⃣ So-called "infinite bullets" are not about having more money, but about having a good system.

Many people envy others who seem to have infinite bullets.

But true infinite bullets are often not about having more money.

Instead, it's about being well prepared in advance.

Knowing when to buy.

Knowing how much to buy when it dips.

Knowing how much to buy each week.

Knowing how much worst-case scenario can be tolerated.

Also knowing you are not there to guess the bottom, but to get a sufficiently excellent long-term cost.

From my own experience:

As long as you accumulate positions orderly using "Space + Time" during market silence,

the final average cost most likely will not be too much higher than the market's lowest price.

In fact, many times, it may not be more than 10% higher than the lowest price.

And this result is already good enough.

Because what ordinary people should really pursue is not buying at the lowest point.

But obtaining a position that seems sufficiently cheap in the long term under controllable risk.

Finally, to sum up:

Investing is not about finding a perfect answer in an uncertain world.

Investing is about using planning, discipline, and execution in an uncertain world to exchange for a position that is unlikely to fail and can compound over the long term.

So, stop always thinking about catching the bottom in one fell swoop.

The bottom has never been a point.

The bottom is a stretch of garbage time that no one is willing to wait, believe, or continue buying.

Your ability to continuously pick up chips during that time period

truly determines whether you are in the vehicle or on the roadside when the next cycle starts.

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