The Fool's Errand ( Significance Of Dollar Cost Averaging)
Looking back at the price of Bitcoin 4 years ago, around $3200 was the lowest price that year and many people missed the opportunity of buying then thinking it was still gonna go all the way down. In all honesty, you really can't blame them. Most of us watched Bitcoin drop from close to $20k to around $3k and it did felt like an unending plunge at the time. I'm guessing everyone who wanted to invest in Bitcoin at its lowest point would have invested when it was at $3200...if only they knew.
Same cycle has begone and again, many investors are waiting and looking foward to investing in Bitcoin and several other cryptos when they are at the lowest price in anticipation for the next bull market. While I think it is actually possible to buy cryptos at their lowest prices, having the mindset to buy a crypto only when it reaches its lowest point is basically the investor running a fool's errand. No one truly knows the highest price a crypto would be valued in the bull market and the lowest price it could reach in the bear market.
As a matter of fact, I should probably change the title of this post to "How To Miss The Lowest Point Of The Market" but I'd just carry on. The point is, the market cycle is one we know so much about already but the prices at every given day and most importantly the highest and lowest prices a crypto would get to is beyond our knowledge.. we can only take guesses.
This is why the Dollar cost averaging strategy is simply the best technique I can refer anyone to either for investing in the market in anticipation for the bull market or taking profit in a bull market. It's slow but very effective and if done well, the chances of buying at the lowest point in the market is 99.9%.
I've been talking about its usefulness more these days with some crypto newbie friends and I keep realising how important it is with all the events going on right now. Waiting for the lowest price to invest in cryptos is like waiting to meet a stranger who shares the same birthday as you. Could happen, but may never happen.
5 years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://peakd.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem
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5 years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://peakd.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem
Lool true. Same thing goes for timing the top too
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Haha..yeah, I used almost the same strategy for selling at the top as well...it's slow, but works so well.
I remember it for 400 dollars. 3200 seemed like space)
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I wasn't around when Btc was $400...it must feel so unreal seeing it trade now at $30k
Even at the time, it seemed expensive, and when it jumped to 2000, it seemed like a jump to Sirius)
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