⭐ Merited by JayJuanGee (1)
I do agree, it's not like DCA is etch on stone, for small investors like the majority of us, we could used a tweak and see how it will fit on our budget. Maybe can can start small and make some adjustments based on our regular income. The key here is to be consistent, $10 or even $20 a month that wouldn't hurt your budget and see how it goes. For all you know, it will grow significantly over time due to compounding. So even with limited resources, you can still used this method each month or weeks and be as effective like those whales or institutions. Again, there is no secret here, just focused on long-term growth, and DCA will be your friend.
I love this. The DCA approach is just an approach, there are many other approaches to invest wisely, the main consideration is for the asset to be trusted. Thankfully, Bitcoin is a trusted asset and investing similarly to what you explained helped me mainly between 2022 and 2023, and part of 2024.What I did was to convert almost all the money in my bank account to Bitcoin, I only reserved about $100 (after conversion), it was crazy
.I continue to deposit about 85% of any money that enters my account into Bitcoin those years. I practically made Bitcoin my true saving account and it even helped me to avoid unnecessarily spending for I was so determined to do it until a point in 2024.
How were you able to survive, I mean pay rent, feed, cover medications and other important expenditure using only 15% of your income? Could it be that you are so rich that 15% of your income is enough to cover your needs and still enable you set aside some emergency funds or you were using the method I used then which involved converting most of the funds to Bitcoin and when issues hit, you sell part of the Bitcoin to solve them? I used this method before but it was not effective, hence the DCA method became the missing link I found in my journey in Bitcoin investing. I am happy about this approach today because I wouldn't have done more if I only stuck to a DCA approach.
You seems to have been mistaken or limiting the DCA method greatly because from what I know about the DCA method, you would have still achieved the same result or even better result should you have adopted the DCA method with the same amount of money you were investing using the lump sum method. The DCA method does not mean you have to invest small amount of money rather it allow the investor make regular investment with total amount spread over a period of time. If you have $10k to invest and you decide to buy at once, the person that decide to spread the investment into 10 weeks of $1k weekly investment would have still achieved $10k invested into Bitcoin after the 10th week. He might even get some at prices lower than your entry which mean means he would have more Bitcoin for the same $10k investment than you that bought at a spot. [/quote