⭐ Merited by JayJuanGee (1)
The reason why I say this is because I have come to notice that people who got rich quickly in Bitcoin was because they have a realistic mindset, and most of them got lucky at the appropriate time.
One of the reasons why most of them got lucky at the right time is that they were never too late to buy Bitcoin i.e. they never thought that the best time for Bitcoin would come. A trend among them was that all times are the best time to buy bitcoins and anytime you can buy bitcoins if you have the financial capacity.Quote
Imagine a scenario where Bitcoin moves directly to 300k what will those who didn't invest but procrastinate say those who have invested in it might become rich luckily even those who just started a few days, weeks, or months depending on the amount they had invested.
This chart proves that the price of Bitcoin has been steadily increasing since its inception. The way Bitcoin price rose from 2009 to 2024 was perhaps unimaginable. Those who still failed to buy or invest in Bitcoin during this time are constantly regretting it. Likewise, if the price of Bitcoin hits $300k as you imagine, even if no one buys Bitcoin for investment, they may later regret not investing in Bitcoin. If you don't invest, if you see someone else investing and think that person is lucky, then maybe that will be biggest failure, Because you missed the time to invest even though had ample opportunity, it's natural to regret it.
You notice that people who have invested in Bitcoin since 2010 are successful today, because the price of Bitcoin has continued to rise. Still there is plenty of opportunity to invest in Bitcoin only with strategy you can be successful, that's why you need to use the DCA method. It is best to succeed in Bitcoin investing by adopting the DCA strategy alone. Because large investors and small investors both new and old investors can succeed by following the DCA strategy.
So if you want to invest in Bitcoin, it is better to invest anytime, because from 2010 to 2024, watch Bitcoin's lick because it has always run upward, so there is still enough time to invest in Bitcoin. Because we can find out from these four that it is possible to succeed in investing in Bitcoin.
I think years back the DCA strategy was not effective because the price was kinda affordable compare to now and i believe most investors back then where lump summing, I mean back then one can get some numbers of Bitcoin with $5k but right now it's entirely a different case, that's why the DCA method is now advisable to use in accumulating, to help an investor grow their portfolio on a slow and steady approach and one of the funny thing about this investment is that if one doesn't follow suit now it is also going to be difficult to grow one's portfolio in years coming because of the height Bitcoin will attain then so those who are still procrastinating is wasting their time though they can invest anytime but there's really going to be a difference.
No it is not a different field at all at present, maybe it totally depends on your income source because if you have more income you can invest more. On the other hand if the income is less then you invest less. As per your statement it is really difficult to buy 5000 dollar amount of bitcoins at once but it is applicable for those who have the ability to buy such large amount of bitcoins at once. I have already posted a lot about dollar cost averaging method of investing and even spent a lot of time on buy price dip and hold threads and learned from there that it is possible to start investing with a very small amount of money.