Sometimes people intend to put their self into difficulty by trying to use money meant personal needs to invest into Bitcoin not knowing that Bitcoin investment is a longer time money for Bitcoin investment should be money you won't be needing for long just like you have said that it should come from your discretionary income.
Perhaps I usually refer people to one of JayJuanGee's works ( JJG’s Outline of Bitcoin Investment Ideas) and I recommend using his strategies of self examination before investing in bitcoin, its paramount that any one investing in bitcoin should first look in to what JayJuanGee calls
9 principle individual factors, if one properly consider this 9 individual factor he or she wouldn't find themselves struggling with his investment as it has solved a lot of problems that might occur in future. unforseen circumstances cannot be avoided hence one needs to prepare for them but properly examining his or her incoming using the said strategy.
Also waiting for the dip will only delay your Bitcoin investment journey because sometimes it may not even dip investor who can choose to wait for the dip before accumulating Bitcoin are properly those that has gotten to their Bitcoin accumulation target or those that has been accumulating Bitcoin for the past 8 years or more may decide to little by little during the dip but for new investors is a wrong idea to wait for the dip that's why the DCA strategy is there to help an investor accumulate Bitcoin gradually regardless of the price and continue hodling, the dip should only be an opportunity for an investor to accumulate enough Bitcoin and HODL.
You're right! waiting is not always a good idea even in other investment especially bitcoin because the expect entry price may not come hence one is liable to miss out for this single reason. and this one of the reason why DCA method is widely encouraged to prevent the complaints that came from people who sticked to buying the dips as some came in late because they where hoping for a retracement in bitcoin price while the market was full in a positive move and hence they couldn't enter as they expect. Perhaps I do not discourage any investment strategies but it's best to remain consistent with an amount you can afford to do without for a long period than go all in and struggle with selling which is never an option.
This is my first time on this thread if I’m not wrong 😑
Not everyone truly understand the DCA, and a lot of people to understand how to apply it but to break it down, DCA simply has to do with consistent buying of bitcoin at every possible time regardless of the market price and every other factor.
Over the time, it has always been advices that bitcoin investment shouldn’t be treated like a get rich quick scheme just like the way most misinformed investors see it to be and that’s why, it is always advisable to use money that isn’t intended for other things to invest in bitcoin but rather using the money left after all our bills have been paid and money for every other things have been set aside as this will help the investor not to temper with their investment.
Finally we are at 100k, a price we were looking for many months. Bitcoin once again achieved another high value, we can't say what lies ahead may be 150k or 200k or may be price goes back to 70k or 50k, everything is possible with Bitcoin. There is no guarantee of bitcoin price.
Those who have gathered enough bitcoins and see adequate profit may see some of there hodlings to enjoy profit before Christmas. Those who have just entered bitcoin must not sell just because price is above 100k and they are getting few bucks in profit.
Personally I think this is a welcome development and another hope for all holders because at this point there is more hope to hold more as it is now believed that bitcoin is here to stay, just as bitcoin has continually proven itself to be reliable.
I know the massive rise in the price of bitcoin will also attract a lot of investors and a lot of people are already looking and expecting the price of bitcoin to hit $200k which will know is achievable but I think we shouldn’t amount any pressure and over expect so much h from bitcoin as it already done so much but rather will should ride with the wave and accommodate more of it.
Goodluck and we’re now rooting for $150k😊