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Ah no J, I'm not concerned at all about my average cost. I have never been able to read charts to
forecast market shifts. I keep an eye
not regularly on the MACD and RSI charts when I am
ready to make another purchase. Personally I know its really difficult to time the market so I dont
really. Take today for example the market has dropped again to $112k from $116 yesterday so I
am getting really close to a buy point, I wont loose sleep if I miss the bottom or it it falls further
after I buy because I know in the long term I really doesnt make much of a difference.
But I am sure there are people who might be obsessed with trying to time the market which is ok,
I can understand they would like to get the "biggest bang for their buck"
I just cant dedicate the time and effort to do it myself, I have never dedicated the time to do it
that way.
2016 was when I got my first Bitcoin and all the subsequent buys through 2017 I couldnt tell you at
what Price and if it was when the market was up or down, It doesnt matter to me 8 years later.
Those are all reasonable points aoluain, even though it may be problematic to point out the errors that other guys are doing without suggesting that there are better ways to go about accumulating bitcoin... and I do consider that it is problematic for newbies to bitcoin to prioritize waiting for BTC price dips rather than just buying regularly, especially in their first 4 years of accumulating bitcoin, unless they happen to be abl eto front load their investment so then they would not have to buy as regularly, yet it still can take a while to build a bitcoin investment, even if a guy were to be able to front load his investment... yet each person still has to judge for himself if he believes that slowing down in the bitcoin accumulation based on thoughts about price makes sense, and newbie guys frequently come to erroneous conclusions, in that direction.
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Why is the DCA the best strategy for investing in Bitcoin?
I have been seeing DCA everywhere and you need to tell me what it's all about before I do my research.
For you to invest in Bitcoin I know you are going to allocate money to invest in the market. You buy and hold for many weeks/months/years as long as you want to hold. I want to know more about the DCA everyone has been talking about so I can choose a better investment plan for my altcoins buying and holding.
Instead of being lazy, read the thread and look up some information, so that you can be more specific in your question.
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Well ideally, I will say Bitcoin is created for everyone but in actual sense it is not because it is mostly rich and middle class people that are investing in Bitcoin, some people don't even or can't afford a square meal a in day and Bitcoin is not created for these persons because they can not afford to invest no matter how they try unless they will have a change of story which off course doesn't happen to everyone. So Bitcoin is not really created for everyone in actual sense, it is just as we have rich and poor. Everybody can never be rich and at same time everybody can never be poor and anyone who doesn't have the capacity and forced himself or herself will regret.
Anyone with a discretionary income can invest into bitcoin, and yeah some folks are struggling to have a discretionary income, and so if they cannot figure out ways to set money aside for a long term such as 4 to 10 years or longer, then it would probably not be good for them to put money into bitcoin.
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Saying is not for everyone does not necessarily means that it doesn't involve everyone, the idea is that some persons still don't believe in bitcoin and so finds it difficlult to invest in bitcoin, they keep given excuses and procrastinating and just watching the market as a reason for not buying bitcoin with a lot of financial opportunities yet do not or is it those set of persons that will buy bitcoin today and sells it off tomorrow all in the bit of being scared of the fall in price and become a no coiner or a low coiner at the end because they lack trust and confidence in bitcoin after seeing its past experiences, you know bitcoin is for long-term investment, yet people has failed recognize that fact, therefore him saying bitcoin is not for everyone one is right because your cannot force someone to do what they really don't want to do .
I think that Joeboy was referring to some folks not having an ability to invest in bitcoin due to lack of discretionary funds rather than suggesting that they were choosing not to invest in bitcoin, even though they have discretionary income.
Sometimes it is not clear if a person has discretionary income or not, and so many time real world situations involve determinations of 1) readiness (such as mindset and priority) 2) willingness (finding bitcoin as being important and/or a priority) and 3) ability (having discretionary funds)