We are seeing Bitcoin’s price bottom at a level that would have been an all time high 2 months ago. That is bullish.
Bitcoin isn’t ready to top for this cycle yet, but it’s possible it has. I think it is still a market to buy though. The value is getting high to be taking on big new positions, but I don’t see any reason to stop DCA’ing.
Bitcoin isn’t ready to top for this cycle yet, but it’s possible it has. I think it is still a market to buy though. The value is getting high to be taking on big new positions, but I don’t see any reason to stop DCA’ing.
The DCA method for me is the most subtle method to accumulate bitcoin no matter the price. If an individual decides to lump sum then is basically dependent on his level of income, but for the DCA method it’s not dependent on any category, both the high and low income earners seeking a long term strategy of continuous and consistently accumulation of bitcoin and hodl, are most certainly and likely dependent to go by this method to accumulate and hodl. The DCA allows you the most stability and consistency in the market which for me you don’t depend on the price of bitcoin before you accumulate. I don’t also see any reason stopping DCA.
I also continue to use DCA because this method is very effective because we don't need to monitor the BTC price or determine whether it's a bearish or bullish season. Sometimes, waiting for a bearish season to arrive and then buying is just a waste of time. If we don't consider the timing of DCA, we'll certainly end up with a large amount of BTC because we'll inevitably encounter fluctuating BTC prices. However, if we wait, for example, to buy BTC during a bearish season, we'll certainly have less BTC compared to someone who buys BTC without waiting for a bearish or bullish season.
So, I certainly see no reason to stop DCA because DCA doesn't consider price or season. Of course, no one who uses DCA for BTC feels a loss as long as they hold it for the long term. This reminds me of a friend of mine who used DCA and is now making significant profits. Initially, he refused to do DCA, but now he truly feels the benefits.
Sometimes I feel that even while doing the DCA one should still look at the prices especially if we know that we are in bull market and the bitcoin prices are on the higher side.
If you ask me I will try to invest more during the bear season while at the price increases my DCA amount will start to lower. I think this is call smart DCA because in this case you will accumulate more at lower prices and it will give you more returns.