But they would never think about that when they are accumulating for long term since they are not dealing with more bigger risk since by using DCA it eliminates what they have worried since at anytime they can set up their buy orders especially if they understand on to make everything work according to their plans set. People just need to be patience and stick on their target so that everything will goes well on their long term journey with Bitcoin.
The concept is not like that buddy because even though we do it with DCA, it doesn't mean we don't think about risk because in the end, regardless of the method, risk still exists, especially when talking about where we invest. Bitcoin is one of the risky aspects of investment and we must be prepared for all possibilities including loss if we really want to be here.
So whatever we take in terms of strategy in accumulating bitcoin whether it's DCA or buy on the dip or even lump sum everything has a risk in the end.
So that we cannot let go of the word risk from the investments we make so that in the end we realize that being in bitcoin is not as comfortable as thought because even though we will get good things when our goals are achieved but in the end all the risks are clearly very present and we must be prepared with all of that.
Yes, investing in bitcoin will certainly not be free from risks. Because in essence there is no investment asset in the world that does not have risk. So we really have to be aware of this and prepare ways to overcome or minimize possible risks that might occur. Just like in Bitcoin, there are many ways to minimize possible risks that might occur. Like
- Study the bitcoin cycle itself.
- Only use cold hard cash to invest(discretionary income).
- Determine a purchasing method that suits your financial situation (such as DCA).
I think with these 3 factors we can minimize the risks that might occur when we invest in bitcoin. Apart from that, talking about DCA, it is true that this purchasing method does not guarantee 100% that we will avoid risks. But this DCA purchasing method only makes us more organized and consistent when buying bitcoin. So basically whatever purchasing strategy is used for bitcoin investment, everything will still have risks. But as I said above, we only minimize it and will never be able to eliminate risk. So the point is to invest according to the risk you are able to face.