Almost all investments work best with DCA, since an overwhelming majority of the population don't already have investments, and so they have to build, and the building is best done with DCA, since the money and wealth is not going to just appear out of thin air.
Of course, with any investment that includes DCA, it is better if the asset is generally trending up and likely to continue to trend up, even though in the short-term it may be trending down. In other words, I am suggesting that DCA works with assets that have strong fundamentals.. and so not shitcoins.. ..and so yeah, DCA is great for bitcoin to the extent that you are not able to frontload and/or lump sum invest into it.
Yeah, I also share in your opinion about DCA being a solid investment strategy for most investors, especially those who are building their portfolio from scratch (just as you noted). It’s just all about consistency and try as much as possible to reduce timing risks.
It’s also commendable how you took your time to emphasize the importance of strong fundamentals. You know it’s just amazing to think about how much wonder the DCA strategy can work when you apply it to assets like Bitcoin, that has a promising and potential future and long term outlook. Some might think it’s magic, but it’s really not, it’s simply more of a disciplined way of investing in something you really believe in.
Yeah, lump summing and front loading can also turn out to be quite useful approaches too but compared to the DCA strategy, they’re really not as realistic or pretty much suitable for everyone and that’s where DCA becomes the superior, it gives everyone, regardless of your financial situation to build wealth overtime.
Lol… yeah, definitely not shitcoins. Shitcoins shouldn’t even be considered as an investment but a way to gamble for quick profit (which of course isn’t even guaranteed and very risky too) in my country, we’d use the term, “hustling for your daily 2k”. The DCA strategy features best in assets with actual value, as well as potential for long term growth, rather than those shitty questionable investments.
I agree that hardly anything need to be known from the start, except knowing whether or not you have any discretionary in which you can get started. The rest can be learned along the way and the bitcoin accumulation (buying) approach can become more aggressive with the learning of the things that you mentioned above.. and sure there can be a lot to learn with bitcoin, but not too much is needed to be known or suspected about bitcoin in the very beginning beyond some kind of suspicion (or hunch) that number tends to go up...even though it might not go up in the short term.
Yeah sure. It really doesn’t require being an expert or a pro investor to get started with Bitcoin. All one needs is to have some discretionary income to invest and to really believe in the potential of Bitcoin and that it’ll definitely continue in and uptrend over time, because some people fail to invest in Bitcoin, not because they do not have enough money or discretionary income to invest, but because they have a pessimistic attitude towards Bitcoin and they feel like Bitcoin has already done enough and can do pretty much again.
As long as you truly believe in Bitcoin and you’ve got some discretionary income, they rest, as they say, is simply just details, because as you advance, you can get to learn about the market trends, Bitcoin’s Tech and other investment strategies that’ll align with your investment goals.
It’s all about being bold enough to take that first step, applying patience and completely trusting the process. It’s possible that the price movement at first might be sluggish and may not skyrocket immediately as every investor would anticipate, but having a long term outlook and perspective of Bitcoin will surely help you eliminate the impacts of the market short term volatility.