Quote from: fuguebtc on June 22, 2024, 02:54:12 PM

Quote from: tygeade on June 21, 2024, 03:33:01 PM

Quote from: fuguebtc on June 21, 2024, 09:41:48 AM

Quote from: mirakal on June 20, 2024, 11:47:00 PM

If everyone just stick to the rule of buy low and sell high, then there's no one end up at loss. That's how the pioneers here work out on their investment plan and look at them now, most of them have succeeded and are living life comfortably.

However, if you miss buying at the dips, then buy still even when the price is quite high. After all, you don't sell at a loss price, as long as you intend to hold longer and sell only when there are impressive profits around.

I agree that as long as we don't sell bitcoin at a low price we won't lose money, but is buying bitcoin when the price is already high a wise idea? Like the people who rushed to buy bitcoin when it was priced at $69k during the 2021 bull cycle. They won't lose money if they hold until now , but is it worth it when they spend 4 years holding without making a profit? Meanwhile, those with better investment strategies made significant profits when bitcoin was priced at $69K in 2024.

We should buy bitcoin at any time but we also need to pay attention to the timing , I mean if we are in the bull season and bitcoin has increased too much then we should wait instead of buying right then . But now we are preparing to enter a new cycle and the cow season has not yet begun , so buying at this price is reasonable.

I would say that it is not a wise idea to buy JUST at a high price, but if you keep buying it constantly then it may happen to be at some high peaks at times as well, while sometimes it may not be. So, I would say that we are going to end up with some good results at times and some bad ones at times.

For example if you bought at 20k and 30k and 40k, but also bought at 70k, then it means that you are doing fine, there isn't really anything to worry about, we should be considering the situation as normal as it gets. Obviously this isn't really that simple, we should consider the situation to be just about DCA, and for that to mean something, we need to have a constant source of income that we can spare some money to buy consistently.

If you are implementing a weekly/monthly DCA strategy and are determined to hold for the long term, you can even buy without looking at the price. But if you only have a certain amount of money and want to invest in bitcoin, you need to consider and analyze carefully before making a buying decision to avoid buying at too high a price. Not all investors have the conditions and ability to DCA for a long time . If all investors had a stable income and implemented the DCA strategy regularly, we would not have losers in the market. Therefore , it is necessary to have a specific investment plan and that depends on each person.

The person should also stick to it (the plan, of course) in order to succeed, so a bit of discipline is also needed. I agree with your other points.