DCA also gives the investor a long-term committed investment mindset and disciplines the investor on carrying out such buying practices every week overtime to the point that he will be used to it and will always have it in thr back of his mind that he needs to continue buying by managing his cash inflow properly and aviod reckless spending.
Imagine this strategy doesn't been introduced on Bitcoin for sure many people would continue to insert their effort to do trades. Only few people would easily understand that there's a good way for them to execute long term hodl without getting to much stress especially that market is volatile and for sure this give a lot of stress for those people who's unsure about what they are doing.
DCA method gives them a sort of assurance that they are fine whatever incident happen to the market if they are consistently accumulating whatever prices show up since there's always huge chance for them to recover and earn in future. That's why I always suggest this method to used by my friends if they ask me what good thing to do with their bitcoin. I don't teach them to do trades since we know how risky it is since there's huge chance for them or anyone to lose their money.
The DCA technique is very suitable to be applied to bitcoin. Even before it was used on Bitcoin, this DCA technique had long been used for other investments, such as shares. So this technique has been used by most investors in the world, including bitcoin investors. Therefore, when investing using the DCA technique in bitcoin, it can definitely provide maximum results. Apart from that, investing in bitcoin using the DCA technique also has many advantages as well
Can manage emotions better. Because it cannot be denied, when investing in Bitcoin and not using the DCA technique, we will most likely be confused by price movements that occur in the market. But by using the DCA technique, we don't need to worry about seeing bitcoin price movements, because the most important thing is that we routinely accumulate our money in bitcoin.
But there are a few things you need to pay attention to when doing DCA on bitcoin for investors who often accumulate money with small amounts, such as 10 dollars per week. Maybe it would be better if you don't withdraw the bitcoin you bought on the exchange with that money (10 dollars) directly to your wallet, because this will be slightly consumed by shipping costs. So I think it would be better if, for example, you withdraw bitcoins to your wallet once every two months. Because if for example every 10 dollars (per week) that has been purchased in Bitcoin is immediately withdrawn to the wallet and for example with a sending fee of 0.5 dollars. If you multiply it by 8 deliveries (8 weeks), that's 4 dollars. But if, for example, we withdraw bitcoins to our wallet every 2 months, we only need to pay one transaction fee for sending, namely 0.5 dollars.