If you want to invest properly, don't rely on the market situation but rely on the money you have because when you have money, then at that time you can buy bitcoin. Don't look at the price when buying Bitcoin because Bitcoin is quite limited to only 21 million coins. So just buy it whenever you have money and apply time to start investing Bitcoin with DCA.
There are many proverbs, but not all of them are proven to be accurate. It all comes back to each individual if you want to change your fate, then change it by choosing bitcoin for long-term investment.
That is for long-term investment and I think it is not effective either, it would be better if we see and wait for the right price to enter even though the price of Bitcoin is always moving and different but at least there is a point where we wait for a low price in between when we have the money.
Waiting is a dumb BTC investment philosophy, especially for a newbie who either has no bitcoin or does not have very much bitcoin. Sometimes the BTC price does not dip, and we know that historically the bitcoin price has tended to go up a lot, so amongst the best of investment approaches to bitcoin is to get started buying right away. Sure once you have some you might be able to wait.. but even then, there are a lot of folks who don't have even close to enough BTC, so waiting does not tend to help such a person to get more to prepare for up
What’s really the point in waiting around, for what exactly? I mean the Bitcoin market is too volatile to predict when exactly it’s gon DIP, and waiting for a DIP could even make you miss out in the exciting parts of the accumulation, just as you’ve rightly said, sometimes the price of BTC may not even DIP, and supposedly it takes up to a year before another DIP will occur, is the investor also supposed to wait for that long to buy? missing out on so many opportunities while waiting for it, and what if the DIP goes lower than expected, such an investor would just panic and possibly sell at a lower price to avoid more losses. The Bitcoin market is totally unpredictable and trying to time the market would be a very bad way to approach such a volatile market. The best approach has always been the DCA strategy in order to be able to ride out the instabilities in the market as well as to avoid impulsive buying and accumulation.
To invest using the DCA method is quite good indeed but we also have to be able to maximize profits by entering at the right time.
That is not correct. If you really are an investor, then there is no need to be fucking around trying to figure out the right time to enter into bitcoin. Just get started right away and buy frequently and at whatever price.
Sure if you spent several years accumulating bitcoin, then perhaps at that point you have stacked enough bitcoin that you have the luxury to wait around for a dip.
Otherwise most people, especially beginners, need to get started investing rather than trying to figure out if the price is low enough for them or not.
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You’re right.
Is there even a RIGHT TIME to invest?
This is mostly the traders’ mindset, people who are in the Bitcoin market for the short term benefits of the market, rather than considering the long term potentials of Bitcoin. Rather trying to time the market, it’ll be more safer and better to get started immediately and consistently accumulate Bitcoin using the DCA strategy.