Quote from: terrific on October 11, 2023, 10:07:38 PM

Quote from: Ndabagi01 on October 11, 2023, 09:52:32 PM

Using the DCA approach is still okay because it helps to avoid the overthinking of not buying at a lower price than the current market price when there has been a price reduction at some point. Because of the volatility of the market and the price action that comes with it,

DCA is a safer approach so that you'll have points when you should buy and what will be the amount that you should purchase for those points.

I think the method to use depends entirely on the individual in terms of comfort, financial situation and risk appetite. Other factors that come into play include motivation and future plans. That being said, there are people who prefer buying by market execution irrespective of the price. For example, MicroStrategy have been known for buying huge amount of Bitcoin at once and they rarely pay much attention to the price because they are obviously holding for long. This link shows their Bitcoin accumulation history and as can be seen, it does not follow a pattern we can say it is DCA.

On the other hand, there are individuals and organizations that prefer the DCA method, leveraging on its numerous advantages to suit their buying habit and culture. A good example is myself; I find the DCA method suitable for me as it aligns with my cash flow and psychology.

In conclusion, there is no one method that is best for buying Bitcoin as it depend on a lot of factors, the most important thing being that we should buy and hold.

Quote from: terrific on October 11, 2023, 10:07:38 PM

Quote from: Ndabagi01 on October 11, 2023, 09:52:32 PM

the DCA approach is still the best way to accumulate bitcoin. When there is a drop, you can also use it to accumulate more bitcoin than before. The dip is not certain and cannot be predicted, but you can always accumulate gradually using the DCA approach.

Those that don't have an option but only to DCA can do a lot better unlike those that don't buy at all. But if you're blessed and you'll be able to buy with an entire amount on the spot, honestly I think that's better.

Not buying at all is a mistake, in my opinion. Like I said before, every method of buying is good and depend on the individual. Just buy Bitcoin in a way that is convenient for you. Some people are busy with other things of life that they might not have time to apply the DCA method; example of such people are seafarers/vessel crew that can spend months deep sea without good internet access or access to their bank .... they cannot effectively apply monthly or weekly DCA so they just buy whenever they have can.