I've been watching with interest as Bitcoin has pulled back over the past week after hitting new highs. Part of me wants to accumulate more while the price is down, but I also wonder if we may see it drop further in the short term.
I am not really expecting any serious drop from bitcoin for now, so if you are planning to invest, then you can start doing that by making use of the DCA strategy. Most people do keep on waiting for bitcoin to drop in price, and at the end, they do end up missing out, so we just have to be smart, and we have to start investing early. If you keep on waiting for a dip, it might end up not happening, or it might not drop to the level that we think before the market will bounce back, so people won’t still be investing.
So, even if it dips further short-term, history tells us Bitcoin tends to go up in the long run.
The confidence which am always having in bitcoin is that, no matter how the price drop, it’s going to bounce back, even if it’s going to take some period of time.