Hi all,
First started investing in Crypto 10 weeks ago early November but am yet to get involved with Bitcoin.
I want to start investing in Bitcoin for the long term - is the best way to dollar cost average or do you just buy when you feel the price is low?
I am yet to DCA with any of my crypto and just buy when I feel price is low but seeing as Bitcoin is the safest hold for long term thinking of DCA.
There are two best ways to invest in bitcoin.
1. DCA - Buy the market when you feel the price is low
2. SIP - Systematic Investment Plan where you buy a certain amount of bitcoins irrespective of price at certain interval
If you are planning to invest in bitcoin for long term and you don't have a lot of time to keep track of the market, go ahead with SIP. But if you have time to keep track of the market, proceed with DCA method.
Both are beneficial for the long term investment.