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.
Different strategies work for different people, some use DCA, and there are those who buy during DIPs. Those who buy during dips are likely to be checking the price of bitcoin frequently, looking for those moments when the price drops to make their purchases.
So what exactly happens when they keep checking and waiting for those dips to happen and it never comes? Does it mean you won't buy bitcoin? Look as a long term investor you won't make much progress with your accumulation if you rely on buying the dips alone. I don't care whatever that works for you but the right application of the bitcoin investment strategies will work for anyone. My advice is this, you can be investing little amount regularly while you are still anticipating for whatever price level you think is dip enough for you, instead of waiting without buying. You can then lump sum if eventually what you are waiting for happens. If it doesn't you will be consoled with the little purchases you have been making during the periods you have been waiting.
. The biggest advantage of investing in Bitcoin on a regular basis is that if you invest in this method, you never miss an investment opportunity because there is continuity of investment on a regular basis. We have no preconceived idea about the market so when the market will go to the maximum and when the market will come to the low but none of us know so we must invest consistently so as not to regret later if we have confidence in long term investment.
The volatile nature of bitcoin, present investment opportunities to those who understand the market, its all about seizing opportunities when it arises. It allows you to identify moments to buy more and grow your portfolio effectively.
Since you are a newbie, trying to figure out when it is best to accumulate bitcoin is not the right thing to focus on because there's no best time to buy bitcoin, and it will delay your bitcoin journey, which might make you miss out on bitcoin. Your main focus should be on the DCA strategy, which will allow you to consistently accumulate bitcoin whenever your money is ready, even if the price of bitcoin is increasing or decreasing, which will allow you to be more active in accumulating bitcoin than trying to time the market so that you could buy bitcoin at the dip, which you are not even sure will happen today or tomorrow. But if you are more concerned with buying the dip and you have a good source of income, you can divide your bitcoin accumulation money into two equal parts so that you can use one part to consistently accumulate bitcoin with the DCA strategy and use the second part to accumulate bitcoin whenever a dip happens.
Despite DCA'ing on regularly basis if bitcoin experience a significant dip, DCA can be adjusted or increased to buy and accumulate more bitcoin at lower price rate. Being strategic and recognising the chance volatility of Bitcoin presents can really enhance your investment while maintaining your long term investment focus.
You should understand that it is not a dip that makes investors accumulate bitcoin aggressively, but when they are sure if they accumulate bitcoin aggressively, it will not stop them from sorting out their daily expenses, which might get them off the game, partially or permanently. When buying the dip, use the money that you don't allocate to sort out your daily expenses. For instance, when you receive a bonus at your place of work, you can decide to use the money to accumulate bitcoin aggressively since the bonus money is not allocated to solve your daily expenses or to build up your emergency funds.