Quote from: Natalim on August 21, 2024, 11:35:57 PM

Quote from: Dzwaafu11 on August 21, 2024, 09:36:06 PM

Quote from: Publictalk792 on August 19, 2024, 02:29:41 AM

I also think checking price before buying Bitcoin goes against DCA strategy. DCA means investing fixed amount of money regularly no matter price. It is about investing automatically and not making emotional decisions based on market ups and downs. By not worrying about price we avoid delaying and missing chances. Buying low can lead to bigger profits but waiting for perfect moment can lead to indecision and lost opportunities. DCA helps us invest steadily and reduces impact of market changes. It is a way to invest smartly and avoid making emotional decisions.

I don't think checking the price will be a course of discouragement for someone who really wants to invest. Looking at the bitcoin price is supposed to be another motivation for someone who is willing to hodle bitcoin for a long time. However, when I see people waiting for the price to dump, I always think they are losing the opportunity of buying bitcoin at that time because you may think of waiting, and since the market is volatile, it will rise again.

In fact checking the btc price of bitcoin is what we often do so that we can maximize its buying opportunity if the current price is low. But that doesn’t mean that we won’t buy anymore if the price is quite high. That’s where DCA should be applied. You buy regularly regardless of its price. But if you can timing buying bitcoin while there is price correction, it would be a lot better as you can also acquire more bitcoin which means bigger profits in the future as well.

Though what you are saying here sounds logical no doubt, but I don't actually think it's proper to time the market before making a purchase, because by doing so, you might miss a whole lot of buying opportunities that might comes in handy, so in my own perspective I prefer buying and acquiring Bitcoin through the DCA accumulating strategy regardless of it current price and I might decide to buy aggressively when there is a strong dip in the market, to maximize having more units of Bitcoin at a cheaper rate, only if I have the financial leverage to do so, but I wouldn't do it, I mean buying aggressively during a dip if it's going to put me in any difficult situation financially.

Lastly, I think that the primary purpose of the DCA accumulating strategy is to buy at your own convenient, so if that cannot be achieved, then I don't think that you are utilizing a proper DCA method, just as it should have been.