Those who want to hold Bitcoin for the long term must keep a close eye on the crypto market. Whenever you see a dip in Bitcoin price in the crypto market, you will try to buy and hold Bitcoin. But I know that Bitcoin will pump multiple times in the next few years. .Now bin our time and expect to earn multiple times in a few years from now.
This is a very wrong approach to investment or accumulation and should be advised against
For instance,what if you never see a dip or one convincing enough especially since halfing is barely weeks away and the market is most likely to be bullish
What if you buy the dip and the dip dips even more,you'll then start contemplating selling in order to loose much
That's why this thread is very nice especially with encouraging use of DCA,if you understand the concept of DCA even partially then you'll find that just waiting for a dip is largely ineffective and time consuming since many factors affect the movement of the market
My advice to you just like this thread stresses on is to keep accumulating irrespective of price action(ie whether there is a dip or the market is bullish) the goal is to accumulate as much bitcoin as you can which overtime will increase your compound interest since bitcoin is projected to be bullish in the months and years to come
You need to stop looking at it from the perspective of trading and start thinking of btc more as an asset or more like fixed deposit and not just looking for ways to make small profit in the short term