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.

People who always wait for the price of bitcoin to dump are those who get panic of the market when the market goes dip after they might have bought bitcoin, I think people who wait for bitcoin price to drop are not serious investors, all what they think about is just to make quick profit. Waiting for the price of bitcoin to fall to buy bitcoin is something that might keep some people waiting and they miss opportunity of time which they can never get back again.

People who always check the price to invest bitcoin won't get it right because volatility will always be a reason for them to fear. Their is no perfect time to invest bitcoin because their is profit to any bitcoin that is bought at anytime.