Quote from: Mpamaegbu on Today at 04:57:42 PM

Quote from: libert19 on June 11, 2023, 08:33:08 AM

-snip-

That's true, and annoyingly so. No matter how hard we try to reserve capital for such a time, it's never there. I think the reason is because we are always in a hurry to load up at the first sight of dump, thinking that's the bottom. It's so annoying that we don't later have an opportunity to buy in after price keeps dumping.

But you've found the experience worthwhile because of it - it's what's needed. But to be honest it's very annoying especially when the price drops lower than your first purchase price. Average for lack of experience - plus for not having a second plan or plan B.

Quote from: Mpamaegbu on Today at 04:57:42 PM

It happened to me in 2017 and 2021 but I found a way around it after that. I now use DCA approach. No matter how tempted I am to buy in at once, I resist the urge. There are some coins I missed buying huge because price reverted from the point of my first purchase in bits. I'm not crying over that. In business, you will some; you lose some.

I like the DCA approach - it's definitely much better than a lump sum. DCA is Plan B what I mean - it comes in handy around the clock on highly volatile assets like bitcoin.