So I hardly see any purpose to suggest to beginners to be worried about whether a correction may or may not end up happening this time around, and they likely should just be spending most of their efforts buying bitcoin regularly and persistently, at least for a whole cycle, unless if they might be able to front load their bitcoin investment.
Well said, the correction may not end sooner than expected and that is why we must be able to remain being speculative upon how we are investing, as we can see from the recent market performance, whereby you experience how it suddenly falls and later bounce back and pump high, for now, the support and resistance level both falls within $70,000 to $80,000 respectively and there lies where the correction may take place, i will also expect that we remain speculative, because anything can happened and we experience a breakout until we are done with this current circle.
We don't need to search for the bottom.
We can just buy at the prices till the bottom would be reached, but we don't need to buy in lumps the price that is probably not the smallest one.
That is why the DCA strategy is very suitable to be applied when investing in bitcoin. Because, this DCA strategy has the concept of making purchases consistently with a predetermined time such as once every 2 weeks and whatever the price of bitcoin when buying it. So that way the cold money we have can be channeled well into bitcoin at various prices. So with this, we cannot possibly feel that we are buying bitcoin at an expensive price. Because in my opinion if we talk about long-term investment in bitcoin, the current price of bitcoin can be said to be still in a fairly cheap category. Because the potential of bitcoin can be said to be much greater than the current price or the ATH that will occur this year. So with this, I personally do not have too much fear about buying bitcoin at the current price.
You both have highlighted the needed points from buying the dip continuously till we achieved the least bottom and then we begin to have a uniform path to being profitable at what we have invested on bitcoin, this same perfectly works by the DCA strategy, as we push more further towards investing and buying more on every dip, so as to reduce lost and increases the chances of what we can earn as income as the market rises.