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 totally disagree with you. An investor should not look at the Bitcoin price at all, when you invest in the DCA strategy, why do you need to look at the price? DCA strategy requires you to buy when the price is up and buy when the price is down. Excessive market review can be detrimental to the DCA strategy. Lured by the lure of higher profits, you may shy away from DCA. This would not be desirable at all.
concentration of bitcoin investors lies on the price, about 80% of investors consider the future price of bitcoin before they invest on it, I know that whenever the price of bitcoin decreases in value many investors utilize the opportunity knowing that the possibility of the price getting increased is that high, and that's why you can see Bitcoin investors targeting the price of bitcoin to decrease so that they can use the opportunity they use such opportunity to make profit massively, the beat time to accumulate bitcoin is when the value or the price decreases
because the more information about the price of Bitcoin in the market, the more attracted new investors are to investing. Now generally in terms of investment newbies can invest the most because the bitcoin market is dumping now so regular investment following DCA method will definitely lead to success.
I don't think that is a good idea for newbies, if a newbie is investing for long term, looking at the market will not do him any good, what he she should be concern about is accumulating enough Bitcoin and not watching the market, except the newbie is into trading which is a wrong way for a newbie to go.
As a newbie investing in Bitcoin and then always watching the market will only delay your accumulation journey for example if you are a newbie and you just started a Bitcoin investment and before you no it there's a dip it may stop you from accumulating more or reduce the percentage you are putting into Bitcoin.
I think what a newbie should be more concern about is accumulating.
Yea, I support your idea here and I also share the same sentiment as you bro, wether newbie or veterans investors, their is absolutely no point monitoring the market, that is what traders do which to me is very irrelevant to a long term investor especially.
Secondly, why I think that it's actually a very bad idea keeping your attention mostly on the market as a long term holder is that it can make you make emotions decisions, due to a sharp dip in the price of Bitcoin or a strong rise of it price, so you might sell at a loss due to fear or you might sell when you are at a profit, no knowing that that is a very wrong way of building a generational wealth, by taking small profit, so in essence of what am trying to say is that, it's not a good thing as an investor to pay too much attention at the market, because if you have been accumulating Bitcoin since 2020 without tempering with it, by now, you are definitely going to be in a whole lot of profit, so the best is to just be buying gradually and forget about it if you can.