Quote from: Ndabagi01 on October 26, 2023, 09:35:42 PM

Quote from: iBaba on October 26, 2023, 04:45:04 PM

Quote from: jcojci on October 26, 2023, 09:36:48 AM

By staying focused on the DCA method, someone will not be too influenced by what is happening in the market. They still invest a certain amount of money every week or month and buy bitcoin, whatever the price on the market. And that's good for them because they don't panic and have no desire to sell their bitcoins. After all, their target is long term.

Beginners who invest in bitcoin using the DCA method do not need to observe the price of bitcoin and they are different from beginners who trade in the market. Those who trade must always observe and pay attention to prices in the market and then analyze them to get time to enter and exit the market.

My advise to beginners and long term investors with little resources is for them to begin with the DCA method rather than the lump sum. It gives them the ability to manage the crisis that are in the investment couple with they have smaller funds to invest. As a beginner, you have less control of emotions to things like this, and in the event that you are faced with bad timings of purchase.

Also, as a beginner, you have less resources at your disposal and more desperation in the Return of Investment, to be able to get it right, start with the DCA approach. But one will realize that as you invest in this, your expectations will be minimal.

The best part of this investment apart from its less funds to invest or lose, is that you do not necessarily need to have a very large amount of money to be able to invest before you can start benefiting from the market growth.

If all new and long-term investors adopt and have this mindset, there will be less panic and dissemination of negative news about bitcoin in society. individuals who argue bitcoin is not a currency to rely on or invest in are individuals who lacked appropriate market expertise and simply went in because of some amazing news they heard about how your return on investment will be massive. For every investment, you should learn the basics before diving in; otherwise, the setback will always be more than the small risk you should have taken, combined with some patience in the market, which should have been done in the first place.

If you're new to bitcoin, don't be discouraged by what others say; instead, identify a method that works best for you based on your financial situation and invest in bitcoin using that approach. What you must do is adopt the mindset of long-term investing in order to reap the benefits later. It makes no difference how you accumulate, but having a long time investment always promises a better benefit in the future.

If beginners can see buying bitcoin regularly using DCA nethod, as a means of piling up funds for their retirement, I think that this will give them the insight why they need to invest in a long term and not to be in a rush to take profit or not to run at loss. Let us look at it from this way, no matter how hard things are, as long as you are in a country making income through any means, you must pay your tax to the government. Taxes paid are used to develop the country, this is how bitcoin long term investment should be seen, like you must pay your tax to the government, you should also create a way to make sure that you DCA from your income so that you can use your bitcoin investment portfolio in the long term to improve your financial status at the long run after, when you have reached your bitcoin target ot when you have looked at your portfolio and you have seen that you have enough bitcoin stashed up. The appropriate way to achieve this is DCA, because this method is open for even the poor who has plans to benefit from the profit of butcoin in the future and use his bitcoin investment to upgrade from being poor.

It is only investors that don't have plans of using bitcoin to achieve something great in future that will think it is a waste of time to invest in a long period of time, and they will sell their bitcoin at a little pump in price because they are after today and they don't bother about their future. It is better that we discipline ourselves and be patient with our bitcoin investment, so that we can be smiling an be proud of the scarifice that we took now to invest in bitcoin and increase out bitcoin portfolio gradually through regular DCA, now that the price is still at this range, than we sit back and hope that the price will go dip back to 27k-25k range, or that we should make some drastic decision that we will bring regrets in future when bitcoin becomes the world most valuable asset.