Every Bitcoin investor should aim to hold Bitcoin for the long term. Buying bitcoin regularly and patiently holding it for the long term is a best investing strategy. And the best way for this is DCA. Investing wisely doesn't always mean technical knowledge, but investing regularly in a disciplined manner, holding patiently for long periods of time, and making the right decisions at the right time, That is investing wisely. Everyone is wise in their own way and in their own strategy, and that personal right perspective is what makes an investor a successful investor.
Agreed, but investors need technical knowledge and DCA strategy to invest at the right bitcoin price and the key is patience to buy gradually at a lower target price than the current market price and many investors are lucky to buy bitcoin at a correction price above 10% a few weeks ago, investors have the principle to be regular and disciplined in implementing their strategy without external influence from bullish or bearish news, all investors have different personal strategies but focusing on implementing a DCA investment strategy is the best choice to gradually add crypto assets.
I think it is better an investor get started already trying to get all the necessary and technical knowledge before Investing may lead to procastination, an investor can be in the Bitcoin market and gradually get more knowledge when he or she is already in the market accumulating Bitcoin.
One of the reasons why we go to school is to learn while we are already in school we learn same thing as Bitcoin investment an investor can be in the market and get more knowledge and understand on how Bitcoin investment works so the best thing is to get started.
And also Bitcoin should be Bitcoin and stop referring Bitcoin to crypto.
The idea of getting started does not necessarily mean that anyone needs to start by investing a lot, and the getting started causes them to have to learn more about how bitcoin works and where to get price exposure.
Most people should have some general idea about how much discretionary income that they have, so even a person who knows that they have $100 per week that they could invest into bitcoin, might decide to start with $20-$30 per week while they are investigating further into bitcoin, and maybe it takes them several weeks or even several months to get more comfortable that they feel more comfortable to increase their DCA amount to perhaps $50 per week, and after some time they might be able to figure out how to increase their income and/or to decrease their expenses, so that they have $150 or $200 per week that they could invest into bitcoin, but they might decide to increase their investment to $80 or $100 per week at some point later down the road.
Surely, there is no exact formula even though there can be reasonable ways to get started, and some folks are going to have to figure out their local options, which also can take a while to figure out.. .and many of us might take a while to just set up one account on an exchange or we might try to find places that we can buy directly, which can be harder to do if the purchases are every week. Some current BTC holders might not want to sell small amounts of BTC (such as less than a few hundred dollars), but individuals are going to vary and maybe some folks might not want to sell directly if they have to replace their coins. I remember when I used to sell bitcoin directly and in person, I would replace them, so I wanted to make sure that my selling costs were going to be higher than my replacement costs (so maybe even having something like a 5% premium), otherwise it would not be worth it for me to go through with the transaction.
You are absolutely correct sir JJE getting started doesn't mean an investor need to invest all that he or she have that is why it is always important and advisable to invest an amount you can afford to lose and getting started will also an investor know more about how the whole thing works, the strategy that can be suitable to use as a starter the DCA strategy is always recommendable then as time approaches an investor can decide to increase the amount of his DCA because his get to know more about how Bitcoin investment works. So it is very important to get started first instead of trying to know all about Bitcoin investment.