I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?
I can personally relate and I can tell you for sure that it's usually not easy to look away from those shiny altcoin specially when they seen to be doing more Xs than bitcoin.
And personally, I wouldnt say that it's completely bad to invest in them, but for a newbie who is just getting started in this space, investing in altcoins is usually a risk do not want to take, since Bitcoin is always a safe heaven and it's very hard to lose money in bitcoin.
So, what I did say is that, you just look away and give all your attention to bitcoin and bitcoin alone, you don't need any special kind or type of mindset to ignore altcoins and focus on bitcoin, it's a matter of decision, that is, what exactly you have decide to do and you are determine to stick to it.
And speaking of DCA, this, I believe should depend solely on how much you earn and how you earn, for example, if you have your own business and earning every day, then you could set out a percentage of your profit and use it to buy bitcoin every day, but if you are working and earning every week, or monthly, each time you get your salary, decide how much you wanna take out and buy bitcoin, and also remember to set your target at what price range you should be comfortable buying from, until bitcoin leave or grows above that price range completely, then you can decide whether to stop and hold what you have, or find a new price range and continue buying.