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Quote from: As-Soon-As on September 11, 2024, 10:58:47 AM

Quote from: Egii Nna on September 11, 2024, 07:34:46 AM

As a new investor, you are not only to keep on buying bitcoin regularly only at the dip because you are still new to bitcoin and you only have very little bitcoin. A new investor should be on accumulating bitcoin using DCA regularly without stoping whether in the dip or not for 4-10
I know if I could still recall, I didn’t emphasise on buying bitcoin at the dip only, I just said it is the best time, which means you can still buy bitcoin at anytime to accumulate as much as you can afford using the DCA strategy, so all this you are saying, I will just take it as more clarification to those that find it hard to digest the English I wrote, not correction to me, because all what is said is the same thing I also said but in different English. So I appreciate your effort in clarifying it to others. The best thing to know is that both of us are explaining the advantages of accumulating bitcoin and holding it for a long time.

Holding Bitcoin in the DCA method is the only way to hold Bitcoin for the long term. Because the DCA method is a cost-effective way to buy bitcoins in all aspects, you will notice the highs and lows of bitcoins if you are investing in bitcoins regularly weekly or monthly then surely the level of buying bitcoins here will decrease in the average price.
That is why it is very important for investors to follow the DCA method of Bitcoin investment, because once you start investing in the DCA method, it will attract you to invest again and again. Because Bitcoin can only be successful if you hold it for a long time.

You are absolutely right. It is best for beginners to buy DCA method as it has very low risk.
I started buying Bitcoin DCA method from December 2023.

Market lowest Dip prices (Bitstamp USD$ prices on the daily chart)

22 /11/ 2023 $ 43,997.9
31 /01/ 2024 $ 42582.61
28 /02/ 2024 $ 62504.79
30 /03/ 2024 $ 69892.83

In my own DCA and purchase data, I bought corn at these prices on those dates at the end of each month:

22 /11/ 2023 $ 43,997.9 (DCA)
31 /01/ 2024 $ 42582.61 (DCA)
28 /02/ 2024 $ 62504.79 (DCA)
30 /03/ 2024 $ 69892.83 (DCA)

I have started and hold bitcoin investments,How did you all do dca or dip?

Have you been buying since November 2023 every month? or did you stop at various points? I see that you had a purchase at the end of November but you did not have one at the end of December.. and then what have you been doing since April? Have you been continuing to buy BTC every month?

I personally like the idea of buying BTC every week especially for newbies who are wanting to build up their BTC stash and then potentially trying to time the BTC buy for the dips during each week, yet for beginners, even for the first 4 years or so, it may not be that important in regards to the average cost of your BTC, even though everyone would prefer to buy on a dip if they are able to do so, yet it does not seem to be a good practice, especially for newbies, to be holding back and waiting for dips rather than just buy as frequently as they can, such as on weekly basis, and then maybe even considering buying steadily for 4 years or more before changing buying strategies, unless you are able to front load your investment into BTC which could be done through DCA, buying on dips and/or lump sum investing, yet not everyone has abilities to lump sum invest, yet it can be a very useful way to get some value into bitcoin earlier on in your investment journey.

I recall that when I got into bitcoin in late 2013, I would have have had been able to lump sum into it, yet I already knew that I was getting into bitcoin after the price had run up fairly stupendously in the previous year around 100x between about $11 and $1,100. So maybe there could have had been rationale to wait rather than to get started, yet I thought that it would be better to get started, so I established a 6 month budget with my initial authorization and largely divided the authorization amount into 26 parts to be able to invest weekly during the next 26 weeks, and to study bitcoin at the same time, and then after the first 26 weeks were coming close to an end, I authorized another 26 weeks with a similar budget as the first 26 weeks. One of my advantages was that I was already having some money that was coming available to me from various aspect of my other investments that I had been doing over the prior 20-ish years, so I was able to come to bitcoin with money that I had already been building up for quite a long time.

Of course, if you can front load your investment then you likely will be able to build a decently good-sized BTC investment portfolio at a faster speed than if you might be just taking small amounts of money from your discretionary income to invest into bitcoin, yet many times new investors will take 30-40 years or more to build a decently good-sized investment portfolio in traditional investment systems, so if you are able to cut that amount of time down in half in terms of investing into bitcoin to 15-20 years or even less, then you should be able to be doing quite well.

So you have to figure out what your goals might be, and surely in this thread many of us are talking about long-term investment of 4-10 years or longer, so it would be a shame if you merely had been investing into bitcoin for only a few months and you did not continue to buy every month for the last 10-ish months. A certain value comes from ongoingly buying BTC in consistent and persistent ways rather than taking breaks, especially in the earliest of years.

I invested for four months at the end of the month and held for 6 months.What I realized by doing this investment, my new ones are investing every week rather than investing at the end of the month and dca.I started buying from third week this month with dca method. I will definitely use your advice when buying bitcoins because your words are very important.