Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Ndabagi01
on 13/08/2024, 23:15:03 UTC
⭐ Merited by JayJuanGee (1)
You are a beginner in investment. You shouldn't worry about what others are doing. Do the best you can but the best way is to maintain consistency and dont focus on the market price at each point in time if not you would not be able to start your investment. There are several strategies for Bitcoin investment but DCA is one method that has been adopted by both new and old investors. With time you will know what strategy would best fit your risk tolerance, financial strength and accumulate goals. If you have enough funds you an choose to lump sum so that you have a good amount of Bitcoin in your portfolio.

The only strategy i have been against is people timing the market. When an investor do that they are more prone to miss out in opportunities they fully wait for. Every point is a good time to buy Bitcoin whether we are lump suming or dcaing.

He should have a plan and asking about whether DCA is the best strategy for him to use as a beginner is surely the best for him. In order for him to have focus and consistency in something, he needs to have a strategy that’ll make him not regret his decision into investing in bitcoin. Both long and new investors in bitcoin have enjoyed the DCA strategy and should not sway away from it. The market is very controversial and the volatility nature of it can be disturbing for newbies. Sticking to the DCA strategy will be of help and they should work on their psychology and not be panicked when there’s a downturn in the market but use it more often to their advantage instead of leaving the market so soon due to panic of losing their funds.