Quote from: Justbillywitt on May 15, 2024, 07:08:24 PM

Quote from: Roseline492 on May 15, 2024, 10:45:49 AM

Quote from: Ambatman on May 14, 2024, 10:45:24 PM

Quote

Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.

Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.

That is not actually the right way to go about it because there is no way you could advise someone who is earning low to invest on a daily basis that's actually an over investment because let's take for instance he is earning $150 on a monthly basis and you advise him to invest daily and maybe he uses $5 as his accumulation amount on the daily basis and in a month we have 30 days depending on the particular month so perhaps $5*30=$150 he will spent per month which is his salary per month and that means he will be investing 100% of his monthly salary, this is actually an over aggressive investment, so perhaps I would advise you focus on weekly accumulation using $10 since you are earning $150 monthly because this will keep you away from getting in trouble during the process.

I don't support the idea of investing on daily basis, I don't know how effective it will be for those doing it but for me it doesn't make sense, firstly there is a very big possiblity that the price one bought yesterday will still be the same price region that bitcoin will be today. The best way is to DCA on weekly basis or on monthly basis, that's a bit more effective than daily basis. There is a big possiblity of getting a reasonable price difference when we invest in weekly or monthly basis. Secondly when someone keep investing on daily basis, you end up paying more exchanges fees, it might really look small, but when added together you realize that you have spent huge amount on exchange charges. That being said anyone decaying on daily basis should switch from it. If you add those fees you are spending on exchange charges on daily basis, you will be able to get more stash of bitcoin if done on weekly or monthly basis.

Don't be in a hurry to forget the fact that Bitcoin is a volatile asset which you can not measure it's occurrence in days, the price swings and fluctuations can be so rapid either inclined or declined at any given time, you made mention of that there is a very big possibility that the price one bought yesterday will still be the same price region Bitcoin will be today, there is no guarantee to that regard because there is also a very big possiblity that the price one bought yesterday can not also be the same price region today and that is Bitcoin volatility nature. However, for me I don't think when you make your purchases of Bitcoin is that important, what I feel is much important is the readiness of an investor and the availability of your investment money and how you can be able maximize every opportunities that shows it's self in the market in order to increase the size of your Bitcoin investment.