EarnOnVictor seems to have hostility to DCAing and hostility to consistently buying BTC.
Hostility to DCA? Hahaha...Are you for real??? Yes, I am for real, and I stand by the assertions of my post.
No reasonable person can be hostile to a lovely investment strategy like DCA, but the issue is that most of the guys here are too lousy about it as if it is the only investment strategy that exists and they often rubbish anything that is not DCA, that's ill, I don't fake it.
I don't mind the idea of teaching guys about other strategies, yet they have to realize that there are trade offs, and that DCA tends to be the best towards setting up good bitcoin buying habits and getting accustomed to buying bitcoin regularly, consistently, persistently, ongoingly, and perhaps even aggressively. It can take a bit of time for guys to get into such habits, to get used to managing investments which also is assisted by good cashflow management practices.
Good cashflow management practices and establishing and managing back up funds tend to be way more important than buying on dips, and surely trading is problematic and even selling is problematic, and I have no problem with the idea of buying on the dip, yet even buying on the dip might not even be very helpful for newbies to bitcoin and/or newbies to investing, since newbies likely need not be making their bitcoin purchases based on trying to strategize about the BTC price, especially not in the beginning.. and perhaps once they get certain systems in place, or if they have already accumulated decent amounts of bitcoin, or if they have strong discretionary income amounts (or even large amounts of starting capital), then those kinds of guys would be in a better position to consider the possibility of incorporating some aspects of buying on dip strategies rather than just buying right away or even staggering out their initial capital investment into bitcoin based on a DCA approach.
It will be very difficult for those who do not follow Bitcoin's DCA and only try to buy Bitcoin from the dip.
You are very wrong, I've done both and to be honest, after the last 3 years, dip buying profited me incomparably more. The DCA strategy is a choice and it only averages your risks and profits, it doesn't make it better, let's stop this misconception.You are the one who is wrong, EarnOnVictor. We cannot presume that newbies are going to do better with their buying on dip approach, even if you claim that buying on the dip had worked for you. Sure if you started in early 2022 (which would be 3 years ago), then there was a dip pretty much through the whole of 2022.. but then we have pretty much been going up since late 2022 without too many major dips.
It is going to be quite difficult to figured out how to buy on the dips, even though surely front loading and even lump sum investing could have had been good for anyone starting to invest into bitcoin starting in late 2022 or thereafter.
In other words, there are no ways to consistently figure out when dips might happen, even though dips seem quite apparent when we are looking at them afte rthey had already happened.
It will be very difficult for those who do not follow Bitcoin's DCA and only try to buy Bitcoin from the dip. I can definitely say that such investors are not very suitable for buying Bitcoin. A few years ago, when Bitcoin was at 15k, some investors speculated that Bitcoin's price would go down and they would be able to buy more Bitcoin at that time. But Bitcoin is gradually rising and they lost that opportunity. There are investors who buy from the dip to enlarge their portfolio, they will not have the opportunity to buy. But those who are doing DCA, if they buy Bitcoin at a relatively high price, they are gradually able to increase their portfolio. Therefore, even if a DCA holder moves towards fulfilling the goal, those who try to buy from the dip instead of DCA will fail to accumulate Bitcoin.
Of course it would be very good to use the DCA method in collecting Bitcoin because we will be able to set aside some of our income and continue to do it consistently and buying when the decline is good but we must be able to use funds that we do not need for other things and for some people who have missed the opportunity to buy when the price is still low because they hear speculation that the price will fall again, of course they have missed the opportunity to get that opportunity and it would be better to be able to use a strategy according to the financial conditions that we have to be able to achieve the investment target that we will run.And time to get into BTC, and to do it properly. To see the results in no time
Many longer term bitcoiners recommend that newbies figure out ways to have 4-10 year or longer investment timelines, and to realize that they could lose up to 100% of the amount that they put into bitcoin, so there surely is no guarantee that results will be positive, even if many guys end up choosing to get into bitcoin right away and to invest consistently, persistently and without delay into bitcoin. There is no guarantee that they will be profitable in the short-to-medium time frame, and there is also no guarantee that they will be profitable after investing into bitcoin for 4-10 years or more.