Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
BABY SHOES
on 29/09/2023, 01:31:06 UTC
⭐ Merited by ginsan (1)
If you continue to worry about the price in your DCA method then this will hinder you, it could be that you keep thinking about the price that has started to rise while still hesitating to continue? I think this thought must be eliminated at least whatever the price is if it's the DCA method then just do it.

This was my initial problem too when I started it was really hard when I kept seeing price movements, if you keep thinking about this then investing in the DCA way will not develop but you will be reluctant to continue because you keep seeing prices.
If the goal of DCA is long-term, there is no need to worry about it, it should be a habit for us that there is no stopping to continue DCA.

People usually prefer to do DCA if the price goes further down from their buying price, They usually stop investing / DCA once the price goes up from their initial buying price. This may be right for people who have limited money, but the real essence of DCA is to make a plan to invest certain dollars into Bitcoin on a regular basis. It could be weekly, bi-weekly, monthly or whatever timeframe but it should be consistent. While doing the DCA, you would not look at the price. Just hit the Market Buy button and move the bitcoin to your cold storage.
Then it is not a DCA strategy if it only buys during the decline then a more appropriate word might be "Buy Dip" because it will buy when the decline occurs, even if they have limited money then it will be difficult to continue when they try regularly while their finances are limited then this will be difficult and hamper your DCA activity.

The last sentence is true that DCA is a strategy of buying regularly at any price, so if there is an investor running DCA just because he sees a falling price then maybe he is a little wrong, even though they are buying bitcoin prices at low prices.