Watch John Bogle’s advice in how to invest in stocks and equities,
https://www.youtube.com/watch?v=doKsy4itiREJohn Bogle was a HODLer-type, and was the founder of The Vanguard Group.
It’s obviously very applicable in Bitcoin’s HODL-style investing, and he also addressed and encourged a dollar-cost-averaging strategy. BUT, he also said that an investor should “get in right in the first place”. Is the current market the right time to enter?
I believe it’s an opportunity, but leave yourself more capital to average down because no one gets it in right unless you’re very lucky.
You can DCA your way, because maybe you’re rich, with unlimited capital. A pleb like me has limited capital. I can’t waste it by buying stupidly at any price.
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The issue is that it is often only possible to tell whether you bought stupidly or smartly in hindsight. Bitcoin surprised investors again and again, me included. Yet I did buy the dips a lot, but as you said you need to be relatively rich or have reasonable income streams to also be able and buy the dips or to not get too stressed out when you thought you were buying a dip but you didn't. Those who had a lot of money before Bitcoin went for the first big rallies also made the most money. It is easer to justify holding when you have 10 million in the bank and your Bitcoins are now worth 30 million and you still don't sell compared to having 10k in the bank and the Bitcoins you are holding are now worth 30k. From a certain point onwards, and of course depending on your lifestyle, it is much easier emotionally to drive the Bitcoin rollercoaster.