So let's do the math.
Initial purchase of $20k at $66,667 = 0.3 BTC. and then to
DCA $200 per week from December 1, 2021 until now would have resulted in $22.8k invested and 0.9374 BTC. So that would mean a total of 1.2374 BTC (currently valued at $53,208) and $42,800 invested. So that would not be a bad place to be, and part of my point is that if someone is wiling to put $20k at the then top of the BTC price, they better also be prepared to continue to invest, otherwise they were gambling and not investing and I have little sympathy for folks with that level of lack of preparedness and/or overinvesting in those kinds of ways.
Fair enough.
I have nothing wrong with lump sum, and I think it is a very good plan; however, if the price moves against you, you are going to be fucked if you don't have conviction to keep investing, and if you come to an investment such as bitcoin without any more conviction than to throw $20k at it at $67k , then you deserve what you got.
Lump Sum has also given good results and one can check on
dcacryptocalculator.com previous results of Lump Sum. Its best to see Lump Sum investment on different instances and that will give you fair idea about that. If you are brand new to Bitcoin then just wait and understand the market first. If you spend some time in the market and see historical data then you get a fair idea about when to go for Lump Sum.
I would not really say that we do DCA because there is less risk, even though there is some truth that it likely takes more capital to justify anyone who might do a lump sum should be ready, willing and able to justify why he is doing it that way, and I am just not sure why such a person would not be ready, willing and able to follow up if he invested $20k at $67k.. and sure maybe your example is not that great, but people use these kinds of examples all the time, to describe the poor schmuck who lump sum invested at the top, and again, I have no sympathy for such smucks or for such whining stories... especially since we can look at BTC charts and see that it has been the best investment for 13 years, so why would not anyone coming into bitcoin at least do a wee bit of looking at price history in order to temper his "investment" approach?
This is what I was saying that we must see previous price charts of Bitcoin and see how price moved over last 13 years. In Dec 2017, 19k$ was ATH but today we have 67K$ as ATH. Year or two from today may be we have 100k$, 0.5M as ATH - Who knows?
Sure if the DCA person does not have any lump sum that is available, then he is looking at his discretionary/disposable income and deciding how much he is able to invest based on those kinds of limitations, so he can be as aggressive as he is able to be, but yes, he is limited by his discretionary/disposable income.. which is the difference between his income and his expenses.... but within that he could choose to invest 100% of his disposable/discretionary income, and that might be aggressive.. .. and surely if anyone is investing 100% of his discretionary/disposable income, he is going to need to have some variations of emergency fund, float and/or reserves in place.. even if non of that is authorized to be allocated (or invested) into bitcoin.
It again comes down to understanding the market. Whether you are going for DCA or Lump Sum one need to understand that he is investing for long duration and it may take some time before his investment will be in profit. There is possibility that we start investing and price start going up but this may not be the case every time.