Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
That's just the nature of coins, they are either appreciating or depreciating in value, never stable but always fluctuating which is why those who study the market with keen interest always find it easy to predict when there may be a possible rise in value, and that why it is also important to always study market before buying any coin, I think this is one strategy that many people neglect whenever they intend to invest in Bitcoin.
If you invest in Bitcoin according to the DCA method, you can definitely invest with more certainty in the future. Because people in almost all countries of the world trust Bitcoin, but Bitcoin plays the most attractive and most important role in getting the highest benefits and being economically successful in the future. The more you push yourself into Bitcoin, the more success you will achieve.
Focus only on buying Bitcoin because you will definitely get the highest success, by buying Bitcoin you will get success in a short time and the longer you wait, the more success you will get. Investing in Bitcoin is most profitable in the long term than in the short term, that is why investing in Bitcoin according to the DCA method definitely makes it easier to keep it for a long time.
You are right that the crypto market is volatile and perfectly timing the market is almost impossible. For example, in late 2017, the value of Bitcoin spiked to almost 20000 and then plummeted to around 3000 over the next year, giving an idea of how unpredictable these short-term movements can be. Using Dollar-Cost Averaging can help address these swings and take some of the stress of trying to buy at the "perfect" moment. That being said, trying to concentrate solely on Bitcoin does carry a degree of risk, and having a smaller portion in other reliable assets can provide an added layer of safety. The big lesson here is to invest consistently, be patient and don't fret over short term price movements.