Agreed. At this stage cash position ready to ape in. Mostly focused on blue chips. I keep learning and willing to change my thesis at any point it's proven wrong.
25 years ago as a stockbroker I was taught to pitch dollar cost averaging to the clients to whom we had just sold some piece of sh1t stock that had inevitably gone down. If you have ever seen the old movie Boiler Room, I worked in one of those places. DCA wasn't much different than the other canned pitches. "You have to ask your wife? Who wears the pants in your family?" was my favorite.@Fruitbat @Bible_Belt
Just to make a point, here is a DCA calc at 1yr, 3yr and 5yrs for $100week. Even if they started a year ago when the market were near the peak, they would only be down - 4.87%, 3yr +175%, 5yr +395%. All that is required to do well over time is be consistent, have patience and don't chase the overnight 1000x meme coins. Most new participants chase pumps and don't buy when they market is down. DCA for most people takes that issue away.
https://dcabtc.com?sd=2021-05-22&sda=1_year&f=weekly&d=1_year&ac=10000&c=false
https://dcabtc.com?sd=2019-05-22&sda=3_years&f=weekly&d=3_years&ac=10000&c=false
Dollar Cost Averaging Bitcoin - dcaBTC
Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.dcabtc.com
Almost every high net worth investor who is actually successful recommends dollar cost averaging in and out of positions. Otherwise you are basically trying to be a trader and time markets. Very few people can time tops and bottoms. Especially on a high volatility asset, it smooths out the price movements. Not sure what point you are trying to make comparing it to penny stocks. 99% of people should be dollar cost averaging. it just needs to be in the right assets. Just because your friend used it as part of his scam doesn't mean it isn't the right approach.
Right now is prime buying time for good fundamental microcaps only that are literally at the very bottom. Because the reall good ones will survive this current bear cycle and easily X10 to even X500 plus in value once the market starts rebounding.
Be careful...just cause an alt went down 90% doesn't mean it can't go down another 90% from here.
If we follow previous patterns, we won't bottom out until the fall/winter. Don't think there is a rush to buy anything right now
Yeah that's why i only mess with tiny microcaps. They are already essentially at the bottom. I even buy sub 1 million dollar marketcap projects that i think have some potential. Some end up being complete scams while some make me huge Xs.
Most people first get into crypto during a bull market, the price action is always what draws people in initially. This is also not the best time to get in because there is usually some correction on the way after a large run up. Most people do not first enter in a bear market, just the psychology of it. If you believe in the asset long term, the bear market is when you set yourself up for future gains during the next bull run. I came in june of 2017 btc was round 2k, eth 300. I went up a bunch of money, then at the lowest was down around 50% of my cost basis end of 2018. I also spent 18/19/20 accumulating and really learning about this space. The only people who stuck around were the ones who really understood it, got rid of a lot of noise. Just keep learning, don't fomo into anything and slowly accumulate the legit projects. No rush right now
Do you see the currency itself being mainstream globally one day?
Bitcoin and a handful of others, yes. Majority will end up being worthless though
This mentality is only smart during a bull market, you shouldn't be touching microcaps with a 50 foot totem pole during this sort of market.
That's fire. Consistent DCA is solid. I can't time bottom or top. I can approximate it. I'm still heavily in a cash position. More then I'd like BUT given the landscape and war, I don't know what's expect.@Fruitbat @Bible_Belt
Just to make a point, here is a DCA calc at 1yr, 3yr and 5yrs for $100week. Even if they started a year ago when the market were near the peak, they would only be down - 4.87%, 3yr +175%, 5yr +395%. All that is required to do well over time is be consistent, have patience and don't chase the overnight 1000x meme coins. Most new participants chase pumps and don't buy when they market is down. DCA for most people takes that issue away.
https://dcabtc.com?sd=2021-05-22&sda=1_year&f=weekly&d=1_year&ac=10000&c=false
https://dcabtc.com?sd=2019-05-22&sda=3_years&f=weekly&d=3_years&ac=10000&c=false
Dollar Cost Averaging Bitcoin - dcaBTC
Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.
I bought some, just taking it slow though. A lot of leverage is getting washed out and few big funds are blowing up. Can certainly drop more but personally like this area to start some small buys. If it gets into the teens will ramp it up
This guy puts out some really well thought out material on current market conditions, he just posted this. He has been an OG in the space for a long time
cryptohayes.medium.com
Thanks for sharing.. I gave it the college try to read but he was stuck on the rowing analogy a little too longThis guy puts out some really well thought out material on current market conditions, he just posted this. He has been an OG in the space for a long time
Floaters
(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor…
