Due to the volatility of bitcoin, there are days when the price of bitcoin skyrockets so high within some hours or within 24 and some days the price also falls drastically and tries to cause panic in the market so i was thinking that won't it be advantageous for someone who chooses to DCA everyday such that he can have the opportunity to buy at DIP prices since the market also experiences short time market fluctuations some days
I think buying Bitcoin everyday is a good strategy but it based on your income, the flow of your income determines if it's okay to keep up with this as a strategy. But I'll clearly advice for those DCAing looking at the fluctuations rate of Bitcoin price , there should be limits to buying because alot of traders what they do is buy at a higher price and sell out at a low price which is not fair enough or profitable and this is because of panic to have a loss when Bitcoin price goes down. So it's better to buy with consciousness.
Indeed, some people do not mind buying every day, but on the contrary, in my opinion, buying every day is less effective even though you have prepared your money to invest. From your money, you divide it back every day to make the transaction, don't you think about each exchange, what is the transaction fee for each purchase? And how much transaction fee do you spend in a month? Of course this will affect your profit if you do it in a year.
It is much more ideal to make purchases once a month, even though the price varies each month, you can determine the purchase when the price drops slightly. If an experienced investor sometimes the price does not affect him too much, what is in their mind is that the investment they make will definitely be harvested in the long term. Indeed, the current price for most novice investors is quite expensive, but it must be remembered that the price in the future is much more tempting than today.
I am also not in favor of buying Bitcoin daily, fees are an issue in daily investment, but many people ignore this issue, although the fee is low on a daily basis, it becomes huge in the long run. However, it would be an ideal investment to invest weekly or monthly instead of daily.
Since once you start investing in Bitcoin, it must be kept uninterrupted for the long term, so if DCA is kept on a weekly or monthly basis, and reserve funds are kept for buying DIP, then the matter will be completely mature. You buy Bitcoin regularly on a weekly basis, and when a DIP comes, buy a large amount of Bitcoin with the reserve funds.
This strategy is an ideal method of buying Bitcoin, buying DIP + continuing to invest Bitcoin continuously in DCA. And in the long term, it is very possible to accumulate a very good Bitcoin portfolio through this strategy, and a very good amount of success can be expected from it.