Well if we use your forum registration date, then maybe we could attempt to approximate where you could have had been right now if you had pursued an aggressive bitcoin investment strategy, including DCA buying.
Let's say for example you have had an income of around $30k per year for the past 7 years, and you started investing into bitcoin right around the time of your forum registration date, and let's say that you invested fairly aggressively around $100 per week, which would have had been right around 17% of your income. So
you would have had invested right around $34.5k and you would have had accumulated about 2.31 BTC. Surely not a bad place to be.
An assumption that is almost close and I really enjoy it until now. Whatever the condition, I also as a member of the forum until now really appreciate any opinions and input especially from our seniors who have been here for a long time and including you too Mr. JayJuanGee. Thank you
I think that the lesson is that if you are not somewhere in the ballpark of what I am suggesting to have had been possible (of course, the numbers do not need to be the same, but getting the idea of 17%-ish of your gross annual income invested into bitcoin each year for 7 years), then surely that is a certain level of aggressiveness, and if you are quite a distance from those numbers, then perhaps you might need to consider adapting your style for however many years it might take for you to strive towards getting to such a status, even if you might have to spend the next 7 years-ish accumulating bitcoin in such a style.
The example that I had given would have had been quite difficult for bitcoin traders and/or shitcoiners to have had been able to achieve.. not impossible, but quite difficult and probably involving luck for anyone who might have had achieved similar numbers with either trading and/or shitcoining, and many of us prefer to not gamble with our investments but to try to be aggressive in our buying of bitcoin within our known means.
I just take the normal one but it has enough accuracy in this case, namely by looking at the Sentiment (Index) Fear & Greed Index so by combining them a Smart DCA strategy pattern was born.
Your comment makes little to no sense, since there is no need to look at market sentiment or other BTC price dynamics in order to engage in reasonable (or smart) DCA practices. Your DCA practices do not necessarily get better based on your trying to time the market or to figure out BTC price dynamics, and instead you may well be screwing up your BTC accumulation practices by failing/refusing to consistently, persistently, regularly, ongoingly and perhaps even aggressively buy bitcoin.
Yes, this is so true and exactly my point from my previous post., It absolutely makes no sense for an investor whose initial strategy of investing in long term with the DCA method of accumulation and holding to be emotional about the market volatility and at such you turn to the sentiment fear and greed index. It will obviously have a great effect in your level of accumulation because at that time you make such harsh decision, you’re no longer going to be consistent in your accumulation either weekly or monthly and before you know it you might end up abandoning your investment because you’re now waiting to buy in the dip which is a very wrong approach for an investor with the mindset of investing consistently for a long term goal, such mindset is conceived by traders who only want to make quick profit and it’s a very wrong decision especially as it concerns the DCA method of accumulation.
Those market sentiment indexes are NOT good ways to structure your bitcoin accumulation practices, and it is much better to mostly structure your bitcoin accumulation practices based on your discretionary income and how aggressive you are able to be.. .in the process of living your life and sometimes perhaps nt being abler to buy bitcoin as aggressively as you would like, based on your own cashflow and/or expenses, which brings us back to my own recommendation that each of us, especially those in their first whole bitcoin cycle (and perhaps even a bit longer) should be attempting to be as aggressive as we are able to be in our bitcoin accumulation practices, and we do not base our aggressiveness on market sentiment or our perceptions of bitcoin price, but instead on our own cashflows within our discretionary income.