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?
Don't focus so much on the moment, FOMO is always going to be an issue if we focus only on the small picture. It's better to take a step back and look at the whole story. We should remind ourselves where the bitcoin journey started and that it's not going to end any time soon. The bitcoin price had such a good last few months and seems to be holding his gains quite well. After the jump above 40,000 USD I was a bit afraid that many investors would take profits and dumb most of their coins. Luckily this wasn't the case and investors believe in higher prices in the future. There will always be a few people that need money quickly and will sell there coins when there is a good opportunity. For me, I would try to look at the bigger picture. We are still far away from the ATH, there is a lot of upside potential left in the market. Also, the halving is coming up next year putting more pressure on bitcoin to rise. On top of that is the economic outlook for 2024 not that great, if there are issues with economy or another crisis, people will have to put their money someone. Selling stocks seems like the instant reaction, but cash is not attractive with the high inflation and gold is at it's ATH. Crypto currencies and especially bitcoin seem like the only real alternative.