Post
Topic
Board Speculation
Re: Road to 100k?
by
Hewlet
on 18/10/2024, 05:55:36 UTC
Imagine if an average earner wants to get involved in Bitcoin and prefers to trade instead of purchasing and holding through his DCA plans, what will be your advise? clearly he has more vulnerability of losing than earning. Anyone starting his Bitcoin journey should consider every possible options of investing and holding instead of trading, aside new investors, it is more profitable holding due to certain scenario's that can lead to loses if trading is prefered.
If an investor wants to get involved in bitcoin investing and trading instead of buying bitcoin continuously through DCA then my advice is to invest instead of trading. Had the person understood the difference between trading and investing, he might have opted for investing. Trading involves high risk, moreover you must acquire a lot of skills and have a lot of market analysis ability to get success from trading. On the other hand if you start investing with DCA strategy then you can start with little knowledge which will increase with time. This method is also applicable for inexperienced investors.

the reason why a lot of people most expecially the new ones starts off thier Bitcoin journey as traders is because that's what most of them are exposed to and a lot of them don't know that they don't have to buy a chunk of Bitcoin at a time. Some feel Bitcoin investment is not for the new cormers or the supposedly poor person and that's why they just prefer to trade with the little dollar they have hoping to double it and use it to solve most of thier immediate needs. It's an understandable situation but with the right knowledge, it's easy to go past that level and go on to investing using the right approach.

For some of us, it is because we came to know about the DCA methord that it became easy for us to start small even though our finacial capacity isn't strong yet and I think if some of these traders gets to know the advantage of not selling their Bitcoin too soon just because they are in slight profit, they will come to fall in love with accumilating Bitcoin and Doing so for the long term