Quote from: avp2306 on Today at 10:55:34 AM

Quote from: Zackz5000 on Today at 10:30:28 AM

Quote from: livingfree on October 30, 2024, 10:23:22 PM

That's a good tip though everyone has a point and a reason why we're DCAing. And one way to monitor or at least get more encouragement is through checking the price regularly. When it is not advisable to check the prices regularly is if we are at the bear market when you're just mostly on hold position and don't accumulate, so it pretty much don't have difference at all.

Monitoring and cheeking the price of Bitcoin regularly is a traders mindset since if you are investing for a long time purpose three is no need trying to cheek the price of Bitcoin regularly before accumulating Bitcoin and also for investors using the DCA strategy you won't have much need cheeking price of Bitcoin when you can accumulate Bitcoin either weekly or monthly regardless of it's price and continue hodling for long when the price is also at dip it will give you the opportunity to accumulate more Bitcoin.

Imagine the stress you can get for continuous checking of the price, that's why I don't really recommend this to be done by people especially if they are serious to deal with their long term investment. Negative sentiments and bad market movement could potentially affect their decision making.

So to avoid committing mistake that they might regret later on much better if they pay attention on their accumulating and proper budgeting than doing unnecessary price checking. There are lot of things to happen on the market and we should never let our focus get destroyed by unwanted matters. If there's a chance that we can accumulate at the dip then its good but it will be more fine to us if we stick to our plan and accumulate whatever bitcoin price show up.

checking of bitcon price daily is not entirely out of place as long as you're sure of your reason for doing so. Realistically, there's no way you will be a major Bitcoin holder without knowing the price of Bitcoin almost on a daily bases. It's where you've stored your asset so naturally, you've got to know what's going on. When I wake up in the morning, it's almost like a default that I just open my phone, check up the forum and then open a wallet of my choice and just check Bitcoin price and sometimes I just open my portfolio to know what's up with the amount of Bitcoin I'm holding. It does something for me and that's that it motivate me for that day. If it goes up then that's really fine but if it doesn't, it's still cool. It's not like you're going to sel your Bitcoin stackl just because the market is going on a certain direction.

The point when it becomes unhealthy to constantly check the price of Bitcoin is when you're doing so just because you want to time the market for the best time to buy or because you're looking for a comfortable exit route so you can sell. During the four to eight years of your accumilation while working on getting to a comfortable accumilation point, you must have gotten used to the price movent to the point that nothing moves you again, you just randomly fleeps through Bitcoin price for the day and stick to your DCA. With time, you might be surprised that it doesn't bother you again if you've checked for Bitcoin price untill the day you're doing your next DCA or when there's a new ATH and Bitcoin starts making headlines.