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Quote from: Smilevictorobinna on May 12, 2024, 11:04:59 PM

Bitcoin investment is a long time investment and when going into it you should always have it at the back of your mind.
I'm not saying buying Bitcoin when is low is bad I'm only saying when ever you have the money to invest don't wait for it to come down because in the cause of waiting it may be going higher or in the cause of waiting you may use the money to settle emergency issue.
So there's no perfect time to invest in Bitcoin if you are planning on hodling for long term or if you start accumulation journey.

The first and foremost goal of those of us who invest in Bitcoin is to hold our investment for a long period of time. We all have a tendency to buy bitcoins when we see that the price of bitcoins is high then we wait for bitcoins to be low. Maybe many people think this is the best time to buy Bitcoin. But you mentioned that you don't wait for the price of Bitcoin to fall because it can rise again. If you don't care about Bitcoin price going up and down then you should go for DCA.

If you start investing using the dollar cost averaging method, you don't have to worry about the price of bitcoins going down or up. You can buy bitcoins anytime and save them for investment. So set a fixed average price and hold accordingly by buying bitcoins.

People who focus too much on the rise and fall of Bitcoin prices, perhaps these people are not long-term investors, but medium or short-term investors. So for them, the rise and fall in prices that occur in Bitcoin really determines their profits. In contrast to long-term bitcoin investors, they will definitely not focus too much on observing the market every day or every week. Because long-term investors have goals over a long period of time. So the current increase or decrease in the price of bitcoin does not have much impact on them. So long-term investors in bitcoin, look at the market when they want to buy, or when they just want to know the price development.

And DCA is probably a strategy used by many long-term investors in bitcoin. Because with DCA the accumulation of money in bitcoin becomes regular without having to look at the price of the bitcoin. Apart from that, the DCA strategy is also very useful for bitcoin investors whose income is not too large. So in essence, bitcoin investment uses the DCA strategy, giving hope for anyone to be able to invest according to their abilities.

Your right and you have spoken well. It is true that anyone investing in Bitcoin without a goal is calling for more risk to his investment. In as much as Investment is involves risk including Bitcoin investment. It doesn't mean that risk can't be avoided or limited. With long term and investor can possibly reduce risk since he is not investing with or against the market price (always timing the market before buying). But with short term then such investor should be ready to fall into higher risk.

Many preach about long term but i am certain that only few practices it. It is in human nature to be unsatisfied which calls for greed, once some investors have seen good profit or small profit, they do not care about the long term they have been planning on since they will be triggered to sell and take their profit.

What people do not know is that every long-term investment has a maturity date, so investing in long term is just like plating a seed for and watering it for years until the maturity date is reached and when you plug it down you will reap more benefit than when you harvested such seeds before the maturity date. These are just simple life pratices and when an investor can't have patience then he is bound to fail.