Hi, normally I'm a fan of dollar cost averaging. But I'm thinking of not really dollar cost averaging because the market is obviously a very bull market right now for BTC.
What do you think will be the best strategy to enter the bitcoin market today?
Pick the lowest dip I can find say, this week, and invest all my principle. Or, dollar cost average anyway....if so, over what time horizon? Surely not over the next year. Maybe a week? A month?
I personally believe that the train has almost left the station, which is why I am wondering if it makes no sense to dollar cost average at this time.
If you are not a new investor and already has some bitcoin at your wallet, it's not really the best time for dollar cost averaging. It is purely time for swing trading. Buy at every dip and sell at every high. That way you can make a good amount of money out of this. If you want to do dollar cost averaging, you will end up increasing the average cost of your holding and nothing else. So don't do DCA now, rather trade to make money!