But the thing is that if anyone is DCAing with time to time so this strategy will recover the mistakes which he/s made at the time of FOMO. If anyone invested on the top when Bitcoin was at $69000. And still DCAing so I am sure that he has recovered almost 80% to 90% loss and if he will hold and continue the strategy so he/s will be in profit when Bitcoin will cross ATH again.
Alright I think I get your point here,you mean if anyone trys to DCA when the Bitcoin reaches $69k he/she could recover profits when the next ATH comes .
Well I guess if I'm not mistaken Bitcoin is still volatile and predicting it just like that
mightnot work as we could be expecting something else by then but Bitcoin is not just any type of coin and not too volatile,there's still a chance for DCA maybe but the future will determine.Thus, you wanna consider DCA then
start nowThat is if the person can continue to hold the bitcoin even though the price is still below the purchase price. Most people will panic and sell their bitcoins quickly, even if they bear the loss. Not many people can continue to hold their bitcoin in a loss condition.
By using the DCA method, you can increase the number of bitcoins at many prices so that it will reduce your average buying price. And your purchase price is no longer at $69k but could be even lower so if he can continue investing in bitcoin at the low price, that would benefit him.
Not all investors sell their investments at a loss, but those who have a pre-planned investment hold their investments even in bad times. When the Bitcoin market moved above $60,000 and those who bought Bitcoin at that time and who have held onto that investment until now are real patient investors. Patience is a very necessary aspect of a human being. He who has no patience loses everything. I got real proof of how important patience is for a man.
I went to the bank for one of my needs to deposit money and while depositing that money I faced this real experience. Money was being collected from three counters and there were enough customers in three counters to catch up. I was regularly monitoring the movement of a person who was first in our line but as our line was a bit crowded he went to counter number three and a person at counter number three deposited a lot of money due to which there was a lot of delay. Due to the delay from counter number three he returned to our serial again though two more new persons entered our serial after he left. Our line grew a bit as two new people joined a serial due to which he impatiently went to another counter to deposit money and when the man was very close to depositing money the bank official left the counter for one of his needs. As he left the counter he came into our line again and he fell far behind. Seeing his restlessness, I was able to understand that it is not right to be in such a hurry in all work and one should be patient. If the person was patient, he could have deposited money long before our line, but because of changing counters multiple times, he ended up depositing last of all.
We should not be too hasty or too impatient to invest. When the market goes down, we have to take it naturally. Naturally one must wait for good times, if the investor waits for good times then good times will surely come for him.