Buy Buy Buy or Sell Sell Sell?

[bitcoin_mining]

Investing without emotions is right but as an investor you don't have any business with having a clearer view or picture of Bitcoin chart because is of no use to you as an investor. Investing without emotions boils down to using one discretionary income to invest because it is something you can afford to let go and you won't have any emotions when you are using the funds to invest in Bitcoin unless you are Investing to sell for a short period of time which is not good because you will be so much on pressure ( mental stress).

If someone sells their investment in a short time after investing in Bitcoin, it will not be considered an investment, but rather it will be considered a business with Bitcoin. We understand investment in Bitcoin as a long-term investment, but there are some investors who cannot really take the changes in the market well, as a result of which they get very excited due to some negative changes in the market after investing and later it is seen that they sell all their investments. First of all, we are investing in Bitcoin, it is a big safe haven for us, secondly, as an investor, I have to try to hold the investment for a long time. If ever a new investor feels that it is difficult for him to hold the investment, then he can follow those investors who have formed multiple additional funds to maintain the continuity of their investment. Others are forming additional funds to support the investment, but from this, our idea of investment is clear that how important long-term investment is for investors.

[Sim_card]

In my opinion, it is not a big mistake because, of course, selling part BTC and then buying it back when the price drops is possible, but we can only do that if we can accurately predict where the price will go. However, if we can accurately predict the price of BTC by doing that, then we will definitely increase our BTC holdings.

I believe that no matter the level of  knowledge that you have in reading charts or in bitcoin investment, it's impossible to predict the market accurately which makes what you are saying not useful for a long-term bitcoin investor who has a bitcoin target that he is accumulating towards. Why do you think that traders run at loss in the long run because they cannot outsmart the market.

However, in this case, the decision lies with the BTC owner, as selling part of the BTC is acceptable as long as a profit has been made.

This is the problem that some bitcoin investors have, they are after profits in the beginning of their bitcoin investment which is a wrong mindset because if you put profits in your mind and you are on a long term journey, you will deviate from building your bitcoin portfolio persistently and consistently with ongoing buying without selling. Because whenever, you see little profit, you will rush to sell believing that you will buy back cheaper. You have deviated from been a long time investor and become a trader. Before you know it gradually, you will start depreciating your bitcoin portfolio by selling any time you like.

This becomes gambling practices because you have to start waiting after selling for the price of bitcoin to dip and if it doesn't dip, you will keep on waiting and might use the money for something else. You have finally lost focus on building and increasing your bitcoin investment for your future. Selling and buying back is not a good strategy to accumulate bitcoin with because you are trading. You will also depreciate your compounding value overtime and will end up with little bitcoin compared to buying without selling for 4-10 years and above

[HajiBagi]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

in my opinion, it’s not a mistake. by doing this, you are increasing your amount of bitcoin. if you know when a dip might happen, you can sell some or half of your bitcoin before that. but if you sell without knowing and it leads to a loss, then it’s your loss. everyone wants to increase their bitcoin holdings because bitcoin is digital gold. if you can save it now, you won’t need to look for an income source in the future. if you have any early warning signs, then doing this is a good choice.

How could you sell your bitcoin and then decided to buy when the dip happen? How did you know the dip would happen? It is a mistake to sell your bitcoin and then try to buy it when the dip comes, as this shows that you are not an investor and are attempting to use Bitcoin as a business. If you want to buy bitcoin when there is a dip, you should save the money for that specific time to buy it. Investing in bitcoin should always be a long-term investment strategy, and you should never consider selling it in any situation.

Selling your bitcoin and wanting to buy when you know the dip is coming is a bad idea, and it shows that you can't hold for a long time. I don't think someone who understands bitcoin will do that, or is it that the person wants to sell his bitcoin and use the method to cover it up so that people don't realise he can't hold it for a long time.

[Princess Leah]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

The reason why am asking this question is because with the right approach I think this can also be done and even help you get good value of bitcoin when the price dip but there are conditions that would prompt you to actually sell some fraction of your investment.  

It may not be a big mistake but of what difference are you who claims to be a bitcoin investment holder from the retail trader who only buys at dip price waiting to sell when price rise. Are you selling due to emergency (then you are meant to have an emergency funds) or you selling cause there is a price?

That the particular approach is appealing to you it can still be not the right approach towards your bitcoin investment when you have to sell a portion of your holdings at every bitcoin price rise to rebuy when it dips. Do you not think you are investing without a proper duration on your investment? You are holding for 6 or 8 years let it be so as planned.

Some people don't really understand that getting much benefit from Bitcoin investment is when you accumulate it over time and hold, that's when they'll get better profits, it's the more reason why it requires patience else the idea of waiting for the dip, buy and then sell when the price increases won't be talked against.

 Yes dear, waiting for the dip to buy then take profit when the price goes up is a traders mentality there's no difference between people who do that and traders, Real investors accumulate bitcoin consistently and hodl it for a very long period cause that's what the concept of Bitcoin investment is all about and nor what traders do.

[HistoLock]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

In the case of long-term investment, I think this is completely wrong. Because Bitcoin is very volatile, when you sell and after some time if you want to buy, if the price of Bitcoin increases a lot in the meantime, then you will have to buy Bitcoin at a higher price. Again, suppose if you invest today at a price of $ 50 and if the price of Bitcoin decreases a lot and if you want to sell your investment and buy again, then you will have lost a lot of money.

The best way for an investor is to continue buying continuously. If a person buys depending on the price of Bitcoin, then it will never be the right decision, but a trader does so. So always depending on your discretionary income and adopting the DCA method and continuing to buy continuously will be the best decision.

Yes, that's definitely right. It's best for an investor to observe when to buy and have the right knowledge. Because buying after some time of selling can cause you to lose. I think it's better to do it long-term and long-term planning is also good because if you consider that you won't hold it for long and don't sell when it increases, it may happen that the price will increase at the time of buying, you may lose, so I would tell you to do it with the right decision. If an investor thinks that the price will decrease and buys it, it is not wise because if you continue to do so, you can improve. If you always sit for a good market, you will only waste your time. I think you can invest alongside a good market and make a profit if you invest for the long term. However, there are many investors who buy and sell based on the price of Bitcoin, but it may be better for them if they hold it for a long time and sell when it reaches the highest level. This may be their characteristic, but I think it is better to survive in all situations.

[Merit.s]

Yes, that's definitely right. It's best for an investor to observe when to buy and have the right knowledge.

Investors who are still in their accumulation stage does not need to observe the market before he can buy bitcoin, neither does a brand new investor wait for a proper time to by bitcoin by observing the market because there is no best time to buy bitcoin, just buy anytime that you have your discretionary income available and have a long-term investment mindset by setting a bitcoin target for yourself. If you want to observe the market and buy when you have the right knowledge you will be wasting time and missing out the chance of buying immediately and start growing your bitcoin investment.

It's difficult to understand the price movement of bitcoin which makes waiting irrelevant and a waste of time because it will limit the quantity of bitcoin that you will accumulate in the long run. There's no need of having the right knowledge of bitcoin or the market before you can get started, only the basic knowledge of bitcoin and your discretionary income is enough for you to start your bitcoin investment while you learn as you invest for a broader knowledge.

[Derekfunds]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

in my opinion, it’s not a mistake. by doing this, you are increasing your amount of bitcoin. if you know when a dip might happen, you can sell some or half of your bitcoin before that. but if you sell without knowing and it leads to a loss, then it’s your loss. everyone wants to increase their bitcoin holdings because bitcoin is digital gold. if you can save it now, you won’t need to look for an income source in the future. if you have any early warning signs, then doing this is a good choice.

How will you say selling one's Bitcoin to rebuy is not a mistake when they have not gotten to there overaccumulation stage. In fact this is not just a mistake but rather this is a trader mindset and thinking and how will you even know that the price of Bitcoin will dip in some time or period and then after  selling, hoping to buy when it Dip that time, who told you that is how Bitcoin works? Do you think it is easy to give a certain or guarantee period or time Bitcoin will dip to a particular point?

Anyone investing in Bitcoin should put away the mindset and idea of selling and buying back when dip will come or happen when they have not reach their overaccumulation stage because it is only overaccumulation stage someone ( an investor) is advised to sell that is if they wish but it should be sold very little.

[Lembo69]

Recently, there has been this fear among investors which looks like most of them do not believe that bitcoin is going to continue going higher considering that of recent, it appears that the market has been relatively slow. investors that are considering selling their coin are the ones that lack the psychological skills that keeps them disciplined throughout the different market condition without being dragged to selling due to pressure.

This fear has been in the minds of investors for a long time, not just now. Because no one knows when the market will rise or fall. And the market is always volatile and the market price is moving according to its cycle. That is why an investor is always told to invest for the long term so that he does not succumb to such fear or instability.

Long-term investors will eventually become a source of inspiration for short-term investors. Because a holder is never ready to lose BTC.

Whatever the market price of BTC, set a goal of 4-10 years, stay committed to investing, and do not lose your BTC for any unnecessary reason. Most people sell their investments due to anxiety during market downturns.

Follow those BTC holders who have been investing for the past few years and have survived cycle after cycle.

[Muba20]

If a person buys depending on the price of Bitcoin, then it will never be the right decision.

When an investor relies on price, he will face interruption in buying Bitcoin. Because he cannot buy Bitcoin when the price is bullish, he has to wait until the price decreases. Now if we observe a buyer in 2023, it will be much easier to understand this issue. If a person investing in Bitcoin continues to invest based on price, then he has not had the opportunity to buy Bitcoin yet because he wants to buy based on price and from 2023 to till today bitcoin price is in bullish movement. If one tries to invest in Bitcoin without giving priority to price, especially if one tries to buy Bitcoin regularly, then the investor will benefit the most.

[Dogedegen]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

Be very careful. People like to talk about this like it is a winning situation but how many times have you heard of someone getting rich this way? One mistake can cause massive damage if you are trying to earn a lot. I know some people who are still waiting for Bitcoin to crash to $10000 to rebuy. They were so sure that it would go back down there but it never even came close to it.

Now they have the choice to buy back at much higher prices and have much fewer Bitcoins that they have. This would be the final acceptance of their mistake, but few people choose to do this. They would rather continue to believe they are right..

[Agbamoni]

To invest, a person needs basic knowledge about Bitcoin, faith in Bitcoin, and a source of discretionary income. If a person has these things, then he should invest immediately.

I agree with you on two out of the three requirements you listed here. The one I disagree with is faith in bitcoin, because someone don't need faith in bitcoin to invest in it, because with or without faith bitcoin will do what it intends to do. It is not ones faith that makes bitcoin what it is. Bitcoin reacts to the law on of demands and supply and not faith. Faith is something that's more related to religious fantasies and bitcoin is not a religious something. Bitcoin is not related to any religious beliefs. That being said, an investor doesn't need faith to invest in bitcoin.

You only have to believe both the past and present statistics of Bitcoin, you dont need to have faith. In case you dont know the definition of faith. Read "Faith is the strong belief or trust in something or someone, often without needing absolute proof or evidence" Haven't you see the statistics of Bitcoin, how it went from $0.6 cents to $100,00 under one decades. There is more than enough evidence for anyone to make up their mind in investing in Bitcoin. I think the only reason that would make someone still have doubt is because they do not believe or naturally they are hypocrites.

[Miles2006]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

The reason why am asking this question is because with the right approach I think this can also be done and even help you get good value of bitcoin when the price dip but there are conditions that would prompt you to actually sell some fraction of your investment.  

Let's say your investment has reached the amount of years (5+) you set for it and it's now time to sell with the motion of selling being tied to the fact that the upcoming season is probably going to be the bear market, isn't it going to be a good move to actually sell portion of your portfolio (not all) and then still continue with your steady buying and as you are running your normal DCA you are still active on the bear so that when the dip comes you can buy back with that sold amount from bitcoin portfolio so that your value of bitcoin is bigger and still go on and continue with your investment plans.

Selling some portion of your bitcoin when your portfolio is matured enough is not wrong, seeing investors who are experienced enough follow this circle of holding after a long period of time they sell little fraction. The only problem here is rebuying during the dip only, an investor cannot wait for the dip when there’s a free access to buy at any time.
Holders should know when to sell and how to sell if possible learning the strategy which has to do with selling bitcoin, from my perspective 5 years and beyond is not enough for an investor to lavish around if possible one should avoid selling early if they can’t rebuy at any point except the dip definitely the point is rebuying should be done consistent aside the dip although the dip is an opportunity to accumulate more bitcoin.

[I_Anime]

If a person buys depending on the price of Bitcoin, then it will never be the right decision.

When an investor relies on price, he will face interruption in buying Bitcoin. Because he cannot buy Bitcoin when the price is bullish, he has to wait until the price decreases. Now if we observe a buyer in 2023, it will be much easier to understand this issue. If a person investing in Bitcoin continues to invest based on price, then he has not had the opportunity to buy Bitcoin yet because he wants to buy based on price and from 2023 to till today bitcoin price is in bullish movement. If one tries to invest in Bitcoin without giving priority to price, especially if one tries to buy Bitcoin regularly, then the investor will benefit the most.

I don’t fully understand what you are trying to say , are you against the idea of waiting for the dip or you are in support of it , is quite simple buying the dip not bad but waiting for it is not encouraging. That’s how some folk waited for the price to hit $10k before they will start investing in bitcoin, but it didn’t rather it surges massively , and they endup missing the opportunity that buy cheap , if they want to start now they don’t have choice to buy at the recent price but may if they have started on time they would have being in good profits now .

[Silikiem]

Yes, that's definitely right. It's best for an investor to observe when to buy and have the right knowledge.

A long term bitcoin investor only need to be able to figure out his or her discretionary income to use and accumulate bitcoin and hold for the long term goal. I don’t really understand what you have in mind when you are talking about observing when to buy, but if it is all about you trying to observe market price before you buy or accumulate bitcoin then you’re getting a wrong investment mindset and that is a mindset of traders who only comes in for a short and quick profit making mindset. They waste time trying to time and observe the market to buy whenever they noticed the price is low so that they can sell when the price is high, and also they panic and sell too Early whenever they noticed a little downturn in the market price or when it’s not going their way and that will lead them to a loss because at that time they will surely sell at a huge loss.
As a long term bitcoin investor, you don’t have to observe the market price before accumulating bitcoin, all you need to do is to focus on figuring out a discretionary income to consistently or perhaps persistently accumulate bitcoin and hold for the long term purpose, using the DCA method of accumulation either weekly or monthly depending on how your income flows.

[Byebyebtc]

As a beginner the first objective should be creation of a stable/consistent stream of income, the second should be acquiring a good knowledge about investments as one cannot know/have all the knowledge about investments, the 3rd is to get acquainted with the risks involved and how to minimise losses because losses are inevitable but can be minimized and finally is to take the bold step and invest, utilizing your knowledge on investment.

You don’t need to have a stable income before you start investing. Anyone can invest in Bitcoin as long as it’s money you can afford to lose or money that won’t affect your other financial needs. The most important thing for newbie’s to understand is that Bitcoin is not a get rich quick scheme. If your mindset is focused on chasing quick gains, you will end up losing your hard earned money. Real investors always think long-term because they understand the risks involved.

Having knowledge about what you’re putting your money into is also very important. With the right knowledge, you will be familiar with the risks and understand that the best way to invest in Bitcoin is to hold it long-term in a way that keeps you comfortable. Without that knowledge, you can easily be misled by traders into chasing quick profits, which could cause serious losses.

I think that is his point to have a stable source of income that is to have a source of income that can take care of your investment account details yourself as wellp
And yes of course it is Bitcoin you are trading it is going to be a long-term trade the coin is still growing and is still has a long way to go
As long as you have to write knowledge of how bitcoin works the dips, and the break of structures and the long-term investment your good to go no emotional stress fomo  etc

[ejikeme24]

Is it really a big mistake to sell portion of your bitcoin and then rebuy back when the price has dip?

In the case of long-term investment, I think this is completely wrong. Because Bitcoin is very volatile, when you sell and after some time if you want to buy, if the price of Bitcoin increases a lot in the meantime, then you will have to buy Bitcoin at a higher price. Again, suppose if you invest today at a price of $ 50 and if the price of Bitcoin decreases a lot and if you want to sell your investment and buy again, then you will have lost a lot of money.

I think it all depend on your investment target, if you reach you Investment target and you see that you're in profit of course you have every right to decide if you're to sell some portion and take profit. But you don't have to wait until you meet a buying opportunity before buying again, if you still have enough discretionary income of course you can keep buying little by Little with time you will definitely meet that opportunity you're waiting for. Because if you're waiting for the dip before buying back will waste a whole lot of time in doing that because you can't possibly Predict when the dip will happen that is why is advised to Stick to the steady investing at same time hoping to get to that stage where you will have to buy aggressively.

[Joeboy]

You have given a very good argument. Newbies do not need much in-depth knowledge to invest in Bitcoin. If they have only some basic knowledge, they can make a long-term investment decision in Bitcoin. I think 70% of new investors cannot survive, the main reason for this is the lack of right decisions. The Bitcoin market is always unstable and since there is no legal enforcement, the thing that can be observed among new investors is that waiting for a long time becomes a very difficult thing for them.

I think one thing that new investors must be aware of is that they can accept the instability of the market. You have to continue the investment activities keeping in mind the talent of losing money. In this way, you have to move forward bravely and after a long time you will be able to earn very, very good returns.

If a person has basic knowledge about Bitcoin, he cannot invest. In addition, he needs another valuable thing, which is a source of discretionary income. To invest, a person needs basic knowledge about Bitcoin, faith in Bitcoin, and a source of discretionary income. If a person has these things, then he should invest immediately.

If a person has basic knowledge about Bitcoin and if he does not have a source of discretionary income, then how will he invest? If that person invests with his emergency money, he may not be able to hold it in the long term. Because if he invests with emergency money, he may need that amount of money at any time. Doing so will be like gambling. Because when you need the money, if your investment suffers, you will lose a lot of money. Try to invest with the amount of money that you do not need, such as your discretionary income. There is no guarantee that you will profit if you hold your holding in the long term. Because Bitcoin is very volatile. No one can ever say what will happen in the market, so you can never give 100% certainty or anyone can. But yes, the chances of making a profit in long-term investment are much higher.

Are you trying to say that with basic knowledge a peerson cannot invest in Bitcoin? Well I do not agree with you coz basic knowledge is actually enough to kickstart your Bitcoin Accumulation journey.....When I say basic knowledge i am referring to this simple but important things, whichh are:

• Where to buy Bitcoin ( and probably where to sell though not really important)
• Where to safely store your Bitcoin by practicing things like self custody
• That Bitcoin is volatile( The price goes up and down and as such only your discretionary income should be used for investment, not money needed for your surviival.
• Bitcoin is divisible( you don't need to buy 1 whole Bitcoin, you can simply begin by stacking up a few Satoshis).

[Popkon6]

Are you trying to say that with basic knowledge a peerson cannot invest in Bitcoin? Well I do not agree with you coz basic knowledge is actually enough to kickstart your Bitcoin Accumulation journey.....When I say basic knowledge i am referring to this simple but important things, whichh are:

• Where to buy Bitcoin ( and probably where to sell though not really important)
• Where to safely store your Bitcoin by practicing things like self custody
• That Bitcoin is volatile( The price goes up and down and as such only your discretionary income should be used for investment, not money needed for your surviival.
• Bitcoin is divisible( you don't need to buy 1 whole Bitcoin, you can simply begin by stacking up a few Satoshis).

I would like to add something more to your information, if the investor wants to invest in Bitcoin, then he must remember the DCA method. Because even if the investor is poor and needy, he can still invest in Bitcoin according to his ability, he will only continue to make regular purchases according to the DCA method according to his ability. If he follows the DCA method weekly, then if he can invest $ 50 to $ 70 per week, then he will definitely be able to collect a large amount of Bitcoin at the end of the year.
In this way, if he continues to invest in Bitcoin according to the DCA method for the next few years, then he will definitely be successful according to his plan. Because an investor can definitely complete his investment successfully according to the DCA method, he should continue to invest in Bitcoin until one Bitcoin is deposited with him.

[Gost ms]

You have given a very good argument. Newbies do not need much in-depth knowledge to invest in Bitcoin. If they have only some basic knowledge, they can make a long-term investment decision in Bitcoin. I think 70% of new investors cannot survive, the main reason for this is the lack of right decisions. The Bitcoin market is always unstable and since there is no legal enforcement, the thing that can be observed among new investors is that waiting for a long time becomes a very difficult thing for them.

I think one thing that new investors must be aware of is that they can accept the instability of the market. You have to continue the investment activities keeping in mind the talent of losing money. In this way, you have to move forward bravely and after a long time you will be able to earn very, very good returns.

If a person has basic knowledge about Bitcoin, he cannot invest. In addition, he needs another valuable thing, which is a source of discretionary income. To invest, a person needs basic knowledge about Bitcoin, faith in Bitcoin, and a source of discretionary income. If a person has these things, then he should invest immediately.

If a person has basic knowledge about Bitcoin and if he does not have a source of discretionary income, then how will he invest? If that person invests with his emergency money, he may not be able to hold it in the long term. Because if he invests with emergency money, he may need that amount of money at any time. Doing so will be like gambling. Because when you need the money, if your investment suffers, you will lose a lot of money. Try to invest with the amount of money that you do not need, such as your discretionary income. There is no guarantee that you will profit if you hold your holding in the long term. Because Bitcoin is very volatile. No one can ever say what will happen in the market, so you can never give 100% certainty or anyone can. But yes, the chances of making a profit in long-term investment are much higher.

Are you trying to say that with basic knowledge a peerson cannot invest in Bitcoin? Well I do not agree with you coz basic knowledge is actually enough to kickstart your Bitcoin Accumulation journey.....When I say basic knowledge i am referring to this simple but important things, whichh are:

• Where to buy Bitcoin ( and probably where to sell though not really important)
• Where to safely store your Bitcoin by practicing things like self custody
• That Bitcoin is volatile( The price goes up and down and as such only your discretionary income should be used for investment, not money needed for your surviival.
• Bitcoin is divisible( you don't need to buy 1 whole Bitcoin, you can simply begin by stacking up a few Satoshis).

Your comment is very misleading. Because investing is not done with just basic knowledge. Along with basic knowledge, a source of discretionary income is also needed. Because investing is long-term. If a person invests with his emergency money, he may not be able to hold his investment for a long time. Because if you invest with emergency money and the price of Bitcoin decreases during the emergency, then you will have to sell Bitcoin at a loss. Just as you need basic knowledge about Bitcoin to start investing, you also need a source of discretionary income. If you invest with emergency money, it will be like gambling.

[ruykeri]

What happens if a person starts to invest in bitcoin at or near the top of the cycle?

Those who start investing in Bitcoin at top or near the top of the cycle in terms of short-term investment will face losses. However, if someone invests for the long term, there is a possibility of profit again in the next bull run in the future. I think it would be more effective to invest for the long term by following DCA instead of investing a lot of money at once.

what happens if a person starts to invest in bitcoin after the top and as the price is going down?

If someone invests in bitcoin after the top and as the price is going down, what happens is that many people get scared when they see the price fall. And investors who bought on FOMO sell out of fear of loss. In a bear market, the price of bitcoin falls and as a result, many people sell bitcoin out of frustration. But if someone continues to be patient and continue DCA during this time, there is a possibility of profit in the next cycle. Another thing is that when the price falls, there is no loss. If anyone sell bitcoin without being patient after the price falls, then there is a loss

What happens if a person starts to invest in bitcoin at the bottom of the cycle and/or as the price is going up?

If the price is at the bottom. I think this is the best opportunity to invest. But at this time, many people try to sell out of fear and based on negative information. Then if someone analyzes the previous information and decides to invest in Bitcoin, then there is a possibility of profit in the future. But at this time, many people wait without investing because they wait for price more lower. As a result, they may  miss the opportunity .

Should the above described situations be treated differently, since a person might not know exactly where he is in the cycle.  To get started does a bitcoin newbie need to learn bitcoin cycle theory?

Sir i think It is not possible for anyone to know which stage Bitcoin is in the cycle. However, a new investor needs to have some basic understanding of the cycle. As a result, he will be able to know what the stage of the halving, bull and bear market is. However, it is better not to analyze these too much before or at the beginning of the investment, as there is a possibility of making wrong decisions. I think the best thing is to maintain discipline regularly and follow the dca and conduct long-term investment activities. As a result, anyone will be able to buy Bitcoin at a time-based and average price. If one have a long-term attitude, the risk is much reduced.