Post
Topic
Board Beginners & Help
Re: DCA, the most convenient way to increase your bitcoin as an investor.
by
laijsica
on 22/08/2024, 06:20:42 UTC
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.
The DCA method recommends an investor to keep buying in any price trend to accumulate Bitcoin because it can be much easier for you when you regularly do it in the long run only with the hope of future profits. By depositing Bitcoins in the DCA method you can accumulate digital wealth for future generations that will continue to accumulate for lifetime and your children will continue to benefit from it just like real wealth. The biggest advantage of DCA is that it can be a universal method to deposit a part of the disposable money left after meeting the household's daily needs into bitcoins on a weekly or monthly basis.