Today we see Bitcoin going over 70k, we have been on a sideway run from the start of March to now. We saw a new ATH $73794 on 14 Mar, and have also seen some dips along the way. Anyone care to state how close they got to the dips over this period?
(Bitstamp USD$ prices on the daily chart)
20 Mar $60,760
17 Apr $59,629
01 May $56,500
From my own DCA data, looking at the lowest cost price around/near/on those dates I got corn at these prices:
March $62,000
April $62,050
May $57,033
I didnt do any dip buying, but did triple my dca amounts from May. How did you all do dca or dip?
Since I know that I am accumulating bitcoin for the long term, I am not primarily concerned about buying the bitcoin dip so that I will not be carried away by it and mess up my bitcoin accumulation journey. Based on the money I used to accumulate bitcoin monthly, I still have a long time before I accumulate the quantity of bitcoin I want to hold. So I stick with accumulating bitcoin monthly when my money is readily available for me to use. This discipline has helped me to accumulate bitcoin without going through any difficulties, and it also allows me to accumulate bitcoin when bitcoin is increasing or decreasing. This is how I accumulate bitcoin with the DCA strategy.
The DCA method have helped a lot of us since we started our bitcoin journey and I am also a testimony to it. Why I love this accumulating method is that it helps your to manage your discretionary income properly
because you will always have a fixed amount that is set aside for buying bitcoin whenever you get paid. Using DCA strategy to accumulate bitcoin will also make your bitcoin journey flexible for you and you will also have time to run other business without it affecting the other.
Also I wouldn't have been able to acquire the quantity of bitcoin that I have now through DCA than any other accumulating method, because I don't think that I will be able to keep such money in fiat without tampering it assuming I am not investing it weekly into bitcoin. I just keep buying with the budget I have assigned from my disposable income whether bitcoin price is going up or down, I don't care. I now manage my income properly and I trim down my expenses because my regular DCA is my priority and I don't want any action of mine that will make me skip a week without buying.
For me I don't, and am not comfortable with the idea or assertion of considering the dca strategy to be a fixed amount, considering the fact that your investment money will be coming from your disposable income where there can be variations of expenses across week's, or months, if you are dcaing in weeks there weeks that you may have less expenses and there are also weeks that you may spend more the same as in months too, so at when you incure less expenses you can as well increase your dca amount and as well it can reduce too depending on your disposable at that particular time, what am trying to say is that prioritizing having a fixed dca amount might make you to invest certain amount of money that maybe is meant to be used for your living expenses Will now be used for your investment which might not be a good approach towards your investment.