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Yes Brother DCA method is better and gives a good sense of safety over our investment if it is done right at the right time. I mean if it was started when Bitcoin price was within or around 30k. it would've given a good return by now when Bitcoin is $43.5k
Do you think it is too late or DCA method can still work even at this high rate?It remains kind of strange that the framing of what is DCA has to be repeated, repeated and repeated, and the essence of the matter is that surely once anyone concludes that BTC is likely to be a good long term investment, then that means to buy it, and if you buy it in a way that is the least damaging and the most beneficial to you would likely end up honing upon DCA as one of those mechanisms, even if you might combine DCA with lump sum investing and buying on dips.
So the essence of the matter is to conclude whether you have enough BTC or not. Are you sufficiently prepared for up or not? If you don't have enough BTC to be prepared for UP, then you should accumulate as much BTC as you are able to accumulate within methods that are available to you in the quickest way that you can, without devolving into gambling techniques and/or necessarily engaging in leveraging.
Many times DCA is that better of the ways to accomplish getting a decent BTC position, even if maybe you might start out with a lump sum and then DCA after that.
No one can tell you whether or not you have enough BTC, unless you tell us that you have none, then any of us might say, "well you better get some." And, then from that point, you have to figure out how many you should have? Are you going with whimpy, such as 1% of your investment portfolio, or maybe more on the aggressive side of 25%, and so then getting to the target could happen quickly or it might take several years to reach the target, and then once you reach the target, you may need to consider whether you keep buying in proportion to your allocation, or if you have gathered enough wealth.. because one thing is getting your allocation to a comfortable place, but another thing would be considering whether to continue to invest into BTC - which also might have to do with the extent that you have other investments, whether BTC has been volatile during the period that you had been accumulating and are you at some kind of a fuck you status or still earning an income through work. We cannot even pigeon-hole everyone in terms of people choosing to continue to work, but if they are at fuck you status, then they would ONLY be engaging in kinds of work that they truly want to be doing rather than having to do for financial reasons..
The ideal time to run a DCA strategy is when an investor has a consistent cash inflow or outflow, and at that point, they can run the strategy for as long as they want, up to several years, with any weekly investment amount.
Without a reliable source of income, I doubt someone would invest in bitcoin on a weekly or monthly basis, much less being consistent over a year, if that were the case.
Of course DCA can be done only if you have a steady source of income or money.
I think the best time to do DCA is when the market is falling, because where you buy, if the price goes down from there, you have the opportunity to buy more.So along with money, a suitable market is also very important. Bitcoin price also plays a very important role in DCA
There is no denying that money is necessary to do DCA, whether you have a large amount or weekly or monthly it doesn't matter. You can take advantage of DCA only when you have the opportunity to make frequent purchases at lower prices.
There is a certain advantage of the BTC price falling while doing DCA, yet falling prices can cause anxiety in regards to some people feeling that they had made their earlier BTC purchases at prices that were too high.
If you don't know whether BTC prices are going to go up or down, then you may well not really have much of a choice, and most of the time, we cannot really know if the BTC prices are going to be going up or down. However, we can assess our own situation, and consider if we have enough BTC or not, and we can choose if we might want to lump sum into BTC - but we can ONLY lump sum into BTC if we have the funds to do it, and if we might have not already lump summed into BTC with whatever extra money we had at an earlier date.