Is Bitcoin Too Expensive For Me?

[TomPluz]

DCA method is very effective for low income investors and holders of Bitcoin. He only has to continue to buy Bitcoin at regular intervals of any amount for long time. The duration for them to continue this procedure should be at least 4-10 years or more. Accumulating bitcoins for such a long period of time will allow him to take high profits that are much or several times more than he expected.

I heard many good things on the use of DCA on investing with Bitcoin or cryptocurrency for that matter. One thing for sure is that with DCA a person is consistently getting into Bitcoin no matter if the price movement can be up or down though of course one can gain more during the time when there is a big dip just like what we are experiencing right now (BTC: $56,303.87 as of 06/07/2024) and doing it for some years maybe 5 years on the minimum but 10 years can be a lot better as suggested. Of course, this is premised on the assumption that years from now Bitcoin will be priced highly and that it will not be toppled as a good asset as already recognized even by the mainstream financial sector. DCA can be compared to funding your own pension plan into the future most especially the time when one would already be retiring. The elements here are consistency, time, patience and of course the money used to buy Bitcoin.



 

[pieppiep]

DCA method is very effective for low income investors and holders of Bitcoin. He only has to continue to buy Bitcoin at regular intervals of any amount for long time. The duration for them to continue this procedure should be at least 4-10 years or more. Accumulating bitcoins for such a long period of time will allow him to take high profits that are much or several times more than he expected.

I heard many good things on the use of DCA on investing with Bitcoin or cryptocurrency for that matter. One thing for sure is that with DCA a person is consistently getting into Bitcoin no matter if the price movement can be up or down though of course one can gain more during the time when there is a big dip just like what we are experiencing right now (BTC: $56,303.87 as of 06/07/2024) and doing it for some years maybe 5 years on the minimum but 10 years can be a lot better as suggested. Of course, this is premised on the assumption that years from now Bitcoin will be priced highly and that it will not be toppled as a good asset as already recognized even by the mainstream financial sector. DCA can be compared to funding your own pension plan into the future most especially the time when one would already be retiring. The elements here are consistency, time, patience and of course the money used to buy Bitcoin.

That's right, therefore before deciding to use the DCA method to buy Bitcoin, they must arrange their finances first. Make sure that the money you want to use to buy Bitcoin really won't be used to buy other needs. The money left over is money specifically for buy Bitcoin using the DCA method, so that in this way when the price of Bitcoin falls we will remain calm and will not feel depressed because we see the price of Bitcoin falling very sharply one day.

[yohananaomi]

At least we have the funds to be able to buy even with fractional value, but what we buy is the best bitcoin and has a very high value, so it can be said that we have money but cannot be said to be rich. But if you enthusiastically continue to increase your bitcoin savings, it is not impossible that it when it reaches its final ATH, you can be said to be abundant and can only be said to be rich but not a millionaire.

Buying fractions is the most adopted strategy of accumulating Bitcoin especially when you are using the DCA strategy. Feeling comfortable while you make your Bitcoin accumulation is nice, though it might take you a while before you get to one Bitcoin due to your accumulation strength but that's fine, going slow and steady is important for DCAing so it doesn't obstruct  other financial activities or spending through out the month. One can also add DCA with other strategy to make iT more fun and comfortable or when you feel like adding a bit of aggression to your accumulation.

The best way to get around the situation where the Bitcoin price is too high can be done, as you said, where the DCA scheme is very suitable to be used for the long term because of our limitations or ability to be able to buy in units. You still have to rely on funds that are unused or not used for daily needs so that you are not disturbed in achieving your goals without harming yourself.
We do need patience to be able to collect what we want well but always continuously, so that success can be achieved.

[doc]

The best way to get around the situation where the Bitcoin price is too high can be done, as you said, where the DCA scheme is very suitable to be used for the long term because of our limitations or ability to be able to buy in units. You still have to rely on funds that are unused or not used for daily needs so that you are not disturbed in achieving your goals without harming yourself.
We do need patience to be able to collect what we want well but always continuously, so that success can be achieved.

If you want to invest using the CDA method, it's best to do it during the bearish season, because prices are very low and we can start collecting coins that we consider to have potential, such as bitcoin, ethereum, etc. Because if we buy late, the bearish season has passed, the coin price will become expensive.

[SamReomo]

If you want to invest using the CDA method, it's best to do it during the bearish season, because prices are very low and we can start collecting coins that we consider to have potential, such as bitcoin, ethereum, etc. Because if we buy late, the bearish season has passed, the coin price will become expensive.

Yes, DCA method works best when someone uses it in bearish season, however most investors are in fear during bearish season and that's why they avoid accumulating any coin during that season or wait for highest dips to accumulate some coins.

Bitcoin was at $17k and many people were still fearing that it isn't the right time to accumulate it, those people might still be regretting that why they didn't used DCA to accumulate some Bitcoin at $17k and $25k.

I have personally invested in Bitcoin and some good altcoins in last bear market and I'm thankful for that investment as I have made quite good profits because of it. I often follow DCA method with dip buying strategy and in bear market I accumulate some good amounts of reputable coins.

I do sell some of those for 10% or more profit and hold rest of it for 2-3 years as that's enough time to have 100% to 200% in most cases and if someone can control his/her emotions during that time then that's a lot of profit within a short period.

[doc]

If you want to invest using the CDA method, it's best to do it during the bearish season, because prices are very low and we can start collecting coins that we consider to have potential, such as bitcoin, ethereum, etc. Because if we buy late, the bearish season has passed, the coin price will become expensive.

Yes, DCA method works best when someone uses it in bearish season, however most investors are in fear during bearish season and that's why they avoid accumulating any coin during that season or wait for highest dips to accumulate some coins.

Bitcoin was at $17k and many people were still fearing that it isn't the right time to accumulate it, those people might still be regretting that why they didn't used DCA to accumulate some Bitcoin at $17k and $25k.

I have personally invested in Bitcoin and some good altcoins in last bear market and I'm thankful for that investment as I have made quite good profits because of it. I often follow DCA method with dip buying strategy and in bear market I accumulate some good amounts of reputable coins.

I do sell some of those for 10% or more profit and hold rest of it for 2-3 years as that's enough time to have 100% to 200% in most cases and if someone can control his/her emotions during that time then that's a lot of profit within a short period.

What you are doing is similar to what I have done, I also bought bitcoin when the price was $17K and tried to collect potential coins when it was bearish. Maybe those who are still hesitant about buying when it is bearish have a prediction that the price will fall again, we should do an analysis, if we feel the price is the lowest when it is bearish, buy coins that we believe will be expensive during the bullish season.

[SamReomo]

What you are doing is similar to what I have done, I also bought bitcoin when the price was $17K and tried to collect potential coins when it was bearish.

I think you've done something pretty good because at $17k Bitcoin was a steal and those who understood that got it early in that bear market.

Bitcoin and top-performing altcoins always give profits and those who understand that often invest in Bitcoin and altcoins when the market is bearish.

[Jewan420]

DCA method is very effective for low income investors and holders of Bitcoin. He only has to continue to buy Bitcoin at regular intervals of any amount for long time. The duration for them to continue this procedure should be at least 4-10 years or more. Accumulating bitcoins for such a long period of time will allow him to take high profits that are much or several times more than he expected.

I heard many good things on the use of DCA on investing with Bitcoin or cryptocurrency for that matter. One thing for sure is that with DCA a person is consistently getting into Bitcoin no matter if the price movement can be up or down though of course one can gain more during the time when there is a big dip just like what we are experiencing right now (BTC: $56,303.87 as of 06/07/2024) and doing it for some years maybe 5 years on the minimum but 10 years can be a lot better as suggested. Of course, this is premised on the assumption that years from now Bitcoin will be priced highly and that it will not be toppled as a good asset as already recognized even by the mainstream financial sector. DCA can be compared to funding your own pension plan into the future most especially the time when one would already be retiring. The elements here are consistency, time, patience and of course the money used to buy Bitcoin.

I mostly talk about the DCA method and prefer the DCA method. If you are afraid of losing money in the field of investment, then you can fearlessly start investing in DCA method. This method is applicable for everyone, especially for beginners. There is no fear of losing money as a result of long-term investing in the DCA system. In this case you have to invest regularly and hold for a certain period of time (until you reach your target). There are various hurdles you may face in extending this investment, which you can overcome by raising funds.

[yohananaomi]

The best way to get around the situation where the Bitcoin price is too high can be done, as you said, where the DCA scheme is very suitable to be used for the long term because of our limitations or ability to be able to buy in units. You still have to rely on funds that are unused or not used for daily needs so that you are not disturbed in achieving your goals without harming yourself.
We do need patience to be able to collect what we want well but always continuously, so that success can be achieved.

If you want to invest using the CDA method, it's best to do it during the bearish season, because prices are very low and we can start collecting coins that we consider to have potential, such as bitcoin, ethereum, etc. Because if we buy late, the bearish season has passed, the coin price will become expensive.

I think what you are saying is something that should be done. The scheme is good. Just look for where the lowest price can be found. Of course, it will be better.
Potential coins will always be targeted because they will provide more contribution when the time comes to increase. I think potential coins are still held by Bitcoin, Ethereum, BNB, SOL etc. which, of course, we cannot miss buying and holding.
It's true, you could miss this opportunity if you don't use your time properly.

[dwyane36]

What you are doing is similar to what I have done, I also bought bitcoin when the price was $17K and tried to collect potential coins when it was bearish.

I think you've done something pretty good because at $17k Bitcoin was a steal and those who understood that got it early in that bear market.

Bitcoin and top-performing altcoins always give profits and those who understand that often invest in Bitcoin and altcoins when the market is bearish.

It's funny how fast time flies and how quickly the market changes. I remember there was a lot of whining in social networks from those who bought BTC for $19k at the end of 2017, i.e. actually at the peak of the ICO era. At the time, it seemed overpriced, but now it looks like $17-19k per BTC seems unattainably cheap. Honestly, I wouldn't be surprised if $70-100k per BTC also seemed like an unattainably cheap price by 2030.

[summonerrk]

What you are doing is similar to what I have done, I also bought bitcoin when the price was $17K and tried to collect potential coins when it was bearish.

I think you've done something pretty good because at $17k Bitcoin was a steal and those who understood that got it early in that bear market.

Bitcoin and top-performing altcoins always give profits and those who understand that often invest in Bitcoin and altcoins when the market is bearish.

It's funny how fast time flies and how quickly the market changes. I remember there was a lot of whining in social networks from those who bought BTC for $19k at the end of 2017, i.e. actually at the peak of the ICO era. At the time, it seemed overpriced, but now it looks like $17-19k per BTC seems unattainably cheap. Honestly, I wouldn't be surprised if $70-100k per BTC also seemed like an unattainably cheap price by 2030.

Most likely it will. I think that now there will be a drop in price, but in the future we will definitely see a price of 100k, because this is a beautiful number. Obviously, after reaching it there will be a big correction. But as I said: now I am waiting for the price to fall, and I would really like to buy at 43k, where the nearest support level is located.

[Jamal Aezaz]

I think you've done something pretty good because at $17k Bitcoin was a steal and those who understood that got it early in that bear market.

Bitcoin and top-performing altcoins always give profits and those who understand that often invest in Bitcoin and altcoins when the market is bearish.

The price of 17k$ is considered the lowest price so those who have invested at the time when there was a huge dump that caused the price to reduce the value of 17k$ are in great profit. At that time there was not a large number of Bitcoin investors so believers of that time are the real investors because their trust led them to gain such a huge profit.

In crypto space only Bitcoin is not present but there are lots of other coins which perform well and are still performing better so one who diversifies their investment in Bitcoin as well as other top coins will not face loss if they carry their investment accurately.

[SamReomo]

Honestly, I wouldn't be surprised if $70-100k per BTC also seemed like an unattainably cheap price by 2030.

Not only you but most of us who are optimistic about Bitcoin won't be surprised to see something like that happening. Who knows by 2030 $150k would be a cheap value to acquire Bitcoin or even $250k would be a cheap price for Bitcoin at that time.

[alltalk]

If you want to invest using the CDA method, it's best to do it during the bearish season, because prices are very low and we can start collecting coins that we consider to have potential, such as bitcoin, ethereum, etc. Because if we buy late, the bearish season has passed, the coin price will become expensive.

IMO, DCA can be used whether in bearish and bullish season. It may be more effective to be used in bearish season but there is no problem if someone wants to keep using it in bullish season. Everyone has their own way to invest their money into crypto coins, nothing wrong as long as it can be profitable.

So far, most crypto still didn't reach their new ATH. Most altcoins are even decreasing their prices very much recently. Even if it is no longer a bearish season, it doesn't mean all crypto coin prices are expensive now.

[yohananaomi]

The best way to get around the situation where the Bitcoin price is too high can be done, as you said, where the DCA scheme is very suitable to be used for the long term because of our limitations or ability to be able to buy in units. You still have to rely on funds that are unused or not used for daily needs so that you are not disturbed in achieving your goals without harming yourself.
We do need patience to be able to collect what we want well but always continuously, so that success can be achieved.

If you want to invest using the CDA method, it's best to do it during the bearish season, because prices are very low and we can start collecting coins that we consider to have potential, such as bitcoin, ethereum, etc. Because if we buy late, the bearish season has passed, the coin price will become expensive.

Seeing the current situation, it is very difficult to be able to predict the price of Bitcoin, will go down and it soon will come back to rise again. But seeing the trend there is the possibility that the price will go down again. If it happens, it could be time to buy directly in any way that can be done.
Agree with your opinion, that the DCA scheme is very suitable when the bearish season and at that time is the time to continue to pursue buying and holding it until the time of the increase will occur, the estimate does not change that it will occur in 2025, enough time and could have before the price will go down again.