Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
SOKO-DEKE
on 14/08/2024, 16:54:25 UTC

You should follow the Bitcoin market constantly, because if you are not constantly reflecting on the market, you will not be able to focus on investing properly. Especially when investing in DCA method, market research must be done, especially as regular investment will attract newcomers more. A new investor can participate in repeated investments to grow his portfolio only through the DCA strategy.


I don't think it is that necessary to be following the Bitcoin price market all the time when someone is involved in using the DCA method,which means buying Bitcoin on a regular basis. If someone has set a plan to add a certain amount of Bitcoin to their wallet every week or every month, based on when the money is coming to them, they don't need to focus on the Bitcoin market price because that can be a distraction. If the market is dipping, someone might think about waiting for a bigger dip to buy in the following month or week. If someone is using the DCA method, checking the Bitcoin price all the time is not ideal, in my opinion.I have a friend who is using the DCA method for accumulating, but due to constantly checking the market, he tries to wait for a dip before buying. Instead of buying every month like before, he now sometimes buys after two months, trying to get a better dip.