there are only two viable strategies for those accumulating bitcoin in my opinion.
- you either consider yourself a trader which means you have to be buying the dips and each time you see a good opportunity like the correction after we hit $5500.
- or you are just dumping your fiat every time you have some extra laying around and turning it into valuable bitcoin. in which case it really doesn't matter when you buy specially since that strategy is a long term one and whether you buy at $5000 or $5500 doesn't make much difference when price goes up in long run as it doesn't matter if you bought at $220 or $240 back in 2015 now that price is 25 times more!!!
Some of you ideas are good but DCA is smart plan. I think It's hard to time the market. It's more complex.
My personal opinion is learn first. Without learning, anyone may lose money so learn first then think about trade.
And If you want to hold bitcoin, I believe use DCA is a smart choice but spend all the money at once is risky.
Market don't move in the straight line so Watch the market will be wise. No one can't guess future prices by looking at past ones.You cannot be thinking about trade as a newbie, especially in this thread, you need to get your priorities right, It would surely interfere with your investment plan as you have little or no experience to manage both of them at a time. As a newbie you should be more concerned with accumulating and holding bitcoin and not trading it. DCA is a great option to start with as a newbie, but mingling with trade early enough is a threat to your consistency and commitment to your accumulation journey especially when you have a lot to learn about managing cashflow, having backup funds and purchasing bitcoin periodically.
I would suggest you don't distract yourself with trading, but focus more on investing using DCA as you suggested, with your available discretionary income and having an accumulation target in mind. It is also important you plan a long-term holding period of 4 - 10 years or more so you would've accumulated across a cycle or more and have significant stashes of bitcoin to your profile.
When you would loose all your money is if you venture into trade mindlessly as an inexperienced newbie at your level when you should be investing into bitcoin to secure your future financially.
Trading is not done out of desperation and the longing to make instant money if not followed with the right mindset and approach followed with the basic knowledge it could be disastrous
There are loses and gains when it comes to trading loses should be a calculated one but how then do you know which is going to be profitable every risk should be calculated squarely