Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: My feelings after 11 years with crypto.
by
ajiz138
on 25/08/2022, 23:33:32 UTC
⭐ Merited by JayJuanGee (1)
One of the best remedies towards getting over those psychological difficulties is some form of DCA strategy and long term approach... because lump sum investing is too scary for them and seems to lure them into a gambling mentality... and also a mentality that focuses too much on short term profits/losses - that inhibit the better options of just continuing to accumulate on an ongoing basis.. DCA is best and buying on dips is the second best, but they first have to get over their psychological hurdle and just get the fuck started to even be able to overcome their seemingly reasonable difficulties of getting back in (or just getting in and getting in sufficiently aggressively with perhaps a whimpy start.. but a whimpy start is likely better than failing/refusing to act).
This is what I still do not with DCA, I choose the option to buy when the price is down maybe for you this is the second option but I'm good enough to do like this I don't know what the name of the strategy is because everyone knows buying when it's down is a good choice for increase bitcoin as long as you can buy it.

But I'm a little interested in talking about DCA from you because I haven't started it yet so I want to know about this strategy, maybe some people have started a long time ago a few years before the price went up high, even if I start now it's still worth it?
I will consider the allocation if possible, weekly, biweekly or once a month, the important thing is that the bitcoin income into the portfolio is there every month to be accumulated.
But it seems I have to think psychologically for this, because after all I have BTC proceeds from buying when it was low.