Post
Topic
Board Beginners & Help
Re: Compiling the worst advice to help newbies make money (= do the opposite)
by
darkangel11
on 22/01/2020, 01:26:35 UTC
I mean, the post itself is pretty poor quality, but that doesn't mean that the sentiment behind it is necessarily bad advice. Dollar cost averaging is a perfectly legitimate investment plan, and over a long enough time period with bitcoin would always have made you a profit so far.

the important question when considering DCA is can you outperform the market?

considering the fact that 97% of traders lose money, i would assume most people are incapable of doing so. from a long term investment perspective, they are better off using DCA.

Most people can't do DCA because they get overwhelmed by negativity and sell but if you are able to do it for a year straight you are going to profit as long as Bitcoin doesn't die somewhere in the process. I'm saying that because as long as it exists it will appreciate in value.
We all know that if you started to DCA in February of 2018 so right after the first crash and continued throughout the year you'd face a hard choice in November when the price went through a second stage of the crash and lost another 50% but if you could survive that you'd profit in July 2019 and all your coins including those bought in February 2018 would bring profit.

You can literally pick any starting date in Bitcoin's history and start buying $100 of BTC each month and after 1,5 years selling ant literally any point in time will mean profit.