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If you want to DCA and not look for discounts or a Bitcoin fire-sale, then good luck to you. But because I'm a mere pleb with limited capital, I need to be more efficient and careful with my money, plus accept that there are some price levels that I should avoid because they are simply not a good deal.
You again seem to be assuming too much Wind_FURY, and you do not even attempt to grapple with my example 8. If we are going with example 8 and we say that your budget is possibly $10 per week, but you do not want to use all of it to buy right away, you could instead buy $20 per month(or $5 per week) and save the other $20 per month ($5 per week) for buying on dips. Going with DCA is neither an all or nothing proposition and it also does not preclude poor people. DCA works with poor people too, and it likely works better with poor people because poor people might not have as many opportunities to lump sum invest, and so maybe a poor person might not get a yearly or twice a year bonus... or maybe if the yearly bonus comes it is merely $100, so the amount is not really very great, but it still does not preclude from allocating parts of it for DCA or buying on dips, even though it might be less justifiable to lump sum buy. And surely, even if a guy had been waiting through most of 2023 for another dip below $15k, and the dip does not come, and if the guy is poor then maybe he ends up saving half of his $10 per week in order to buy on dips, and the other half he DCAs, and so after more than a year of saving $5 per week, he may well have more than $300 in his fund in which he might be able to buy on the dip (which could also be a lump sum, depending on how it is framed).
It's probably the same as when you're shopping for nice clothes. Some of them will simply be too expensive, but if you wait and be patient, you'll be given an opportunity to by them on sale.
There are similarities, but with bitcoin there are differences too. We have already seen how continuous BTC buying has been very helpful to people, even poor people.. but these days they do need to figure out how to manage their UTXOs, because some poor people may have gotten themselves screwed if they created 100s of UTXOs that were $5 to $50 each., and so they might not have as much BTC as they thought that they had. There are frequently reasons to be scared, and many times there are disadvantages to poor people, which still contributes to my thinking that some of this ordinal/inscription blocking up of the transaction fees is being done on purpose and is perhaps an attack on poor people and also an attack on persons who have a lot of small UTXOs, even if they might not be poor people but they might be a merchant who had been accepting bTC for payments and retaining small UTXOs..
Overall 2023 was a good year for bitcoin and bitcoiners.
Yes, it's relatable to those who took the very opportunity of starting up their Bitcoin journey and also those who kept consistent in their Bitcoin accumulation. The market was open to everyone but not everyone seized the opportunity, so putting into consideration the way the market is moving it will also accept more investors, likely few months after the halving then we expect to experience an ATH, which may not be the perfect spot to hop in.
2023 was a good year for Bitcoin and Bitcoiners. I had the opportunity to join this forum in 2023 to learn about Bitcoin, and it has helped me to understand Bitcoin and also start accumulating Bitcoin with the DCA strategy at regular intervals. The DCA strategy has always been helpful to me when I'm accumulating Bitcoin because it helps me to take care of my financial needs. We are expecting 2024 to be better than 2023 for Bitcoin and Bitcoiners, because the spot Bitcoin ETF was approved last week, and the Bitcoin halving will also happen this year.
Yes I agree with you. I am new to Bitcoin. According to your information, the year 2023 was very good for Bitcoin and Bitcoin users. But for the last 7 days, Bitcoin has been going down, that is, the beginning of 2024 has not been good at all.
https://www.coingecko.com/en/coins/bitcoinBitcoin Price Review Expect Bitcoin to increase in value and halve within this year. I think 2024 will be a memorable year for those who use the DCA method.
We are only 2 weeks into 2024, and so far 2024 has been very good for bitcoin too, even if price performance has been a bit volatile, but who cares, especially if you may well be new to bitcoin, then you better be buying regularly and not getting too worked up about short-term BTC price moves. But hey, in the end you can do what you like, including getting distracted by short-term price moves.
Yes, I am new to bitcoin and have deposited some bitcoins for long term with DCA method and am trying to gain more knowledge about bitcoins by reviewing the market so that I can profit from short term investments. Not to mention one more thing, I am going to open a shop very soon, my shop is about 80% done. Hopefully in a few days I will be able to open my store and buy and sell products with Bitcoin.
First: Your quoting sucks.. since you did not even attribute the above quote to me.. so if fixed it for you.,. since I recognized that to be something that I had posted earlier.
Second: If you are planning to have a lot of small transactions with bitcoin then you likely will be better off to set up with lightning network or some other way of dealing with the high transaction fees. If your transactions are $500 or more, then maybe it won't matter so much if you are doing them onchain.. It would depend on how much your ticket items are and then if there is a need to deliver upon payment or if they are shipped or if there might be a bit of a delay between payment and delivery of the goods/services sold.
Many investors have missed such opportunities as Bitcoin prices have gone from very low to very high levels without having enough money to manage. But now there is no risk of missing the opportunity for the investor as the investor will get the opportunity to invest in different positions of value step by step with DCA strategy.
There is always risk. Certain kinds of risks are eliminated by DCA because you are deciding how much to invest based on your cash flow, so you would likely ONLY invest with your discretionary/disposable income (the difference between your income and your expenses), while a lump sum might constitute several months or several years of discretionary income or taking money from another investment, but it is usually thought to be an amount that is larger than your usual discretionary income.
This strategy may not have been discussed much when I first started investing but ever since I came to know about this strategy new investments have been made in this strategy but keeping the previous investments intact.
Even if you had not noticed DCA, it is not new, and it does not mean that it was not being discussed, merely because you are beginning to notice it being discussed more and more.
It is also quite likely that there were various DCA strategies being followed prior to even calling it DCA... but yeah, if we have a lot of peer to peer circles from all around the world, there are are a lot of things in which "we" are able to discuss, that would have been discussed in different ways or maybe it had been more difficult to find niche circles of people to talk about niche topics, but the interwebs allow such niche discussions between people from all parts of the world rather than just talking with your grandparents, parents, siblings, kids and neighbors. .we can go into further circles of discussion..
As I have invested in Bitcoin in the past by following the DCA method from there I keep investing for longer and accumulate more Bitcoins. By adopting this DCA strategy alone, adopting DCA strategy definitely increases investment interest.
Good luck with your investment, invested in the old way now investing in the new way hope you keep the investment for long time. Finally one thing you said that investing in DCA method increases the interest of investment which is applicable for new investors at that time new investors get some money profit as they invest. That is, a small amount of profit encourages them and increases the demand for investment.
It is kind of funny how people will sometimes buy more on the way up rather than more on the way down, which is referred to as the wealth effect... and we cannot really blame anyone for feeling richer and spending more when their asset goes up, even if it is ONLY going up "on paper" since no cashing out is necessarily being done and yet there is still a wealth effect that contributes towards the more spending of money, which also might include investing.
Buying regularly and buying with DCA are different. I mean, regular buying can be done at any price, whereas buying DCA takes advantage of another dip to buy once you see a correction.
That is not true. DCA is buying at any price based on your budget.
Buying on the dip is buying on the dip, and it is different from DCA, even though buying on the dip can be combined with DCA, which may or may not end up in better results than more strict DCA buying.
I doubt that there is any need to really quibble about definitions as long as we are attempting to describe what we are doing or to understand what we are doing, so if we are communicating with terms but meaning different things then that could be problematic, even though we should attempt to be clear about what we are talking about so that others mostly understand what we mean and are better able to consider whether and how to respond.. but yeah we do frequently get into semantical discussions in this thread.
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I guess this is mostly applicable to traders with relatively large capital base,for a small time trader with minimal capital I don't think this is quite plausible or sustainable even
I'll suggest scalp trading especially for committed traders with little capital,yes there are risks associated with it but with proper and in depth technical analysis,one can circumvent those risks and grow capital even to the point of engaging in long-term trading
We are not talking about trading here. There is nothing wrong with trading, even though it takes more skills and or experiences to put it into practice, and even though it is also a way that people could end up losing a lot of money, including losing all of their money, even if the BTC price is generally going up... so frequently in bitcoin, there is no need to trade it in order to potentially receive stupendous gains, especially if you have an investment timeline that is 4-10 years or longer. If you want to talk about trading and to promote those kinds of behaviors, then you should do it in some other thread because trying to talk about those kinds of skills here would likely bring quite a bit of confusion and distraction from our main topic, which seems confusing enough in itself, and perhaps part of the reason why this thread already has 260 pages.. .even while we are trying to either avoid or minimize any needs to refer to trading.. even though trading frequently comes up... yet mostly from members who are deviating rather than first trying to stay within this thread's topic..