Quote: (12-13-2017 12:42 PM)churros Wrote:
Quote: (12-13-2017 12:43 AM)SamuelBRoberts Wrote:
Quote: (08-08-2017 04:15 PM)churros Wrote:
Sorry for the newb question. But if is value of bitcoin is this high, why is it still a good time to invest?
Quality memories.
If I had the balls to go all in then, I'd be a rich man.
But as you can see I didn't know any better.
Dollar cost averaging is not about having balls or about going "all in."
That is the whole point of DCA, you don't know which way the market is going or care, and in that regard, you just keep investing in on a regular basis and small amounts no matter what the price is doing.
Going all in is a different strategy that can also work, but it is still different and based on differing assumptions.
I have been dollar cost averaging into bitcoin for more than 4 years, so when the time of the BIG booms happened in the past two years, I already had accumulated BTC in accordance with the DCA strategy - however nearly the first two years, my BTC portfolio tended to be in the red and there were periods of time that my BTC portfolio was more than 50% in the red, but my average cost per BTC kept coming down and my accumulation of BTC kept going up, and BTC has more than 80x since the lowest point of my holdings from the sub $200s to above $16k, therefore, those losses on paper have more than sufficiently made up for their time in the red (during 2015) and more bitcoin that i was purchasing for each dollar, especially those coins that I bought in the $200s or any point below my then average cost that was then around $500 per coin, and I have pretty much have taken out fiat (still continues to serve as working capital) that is approaching 3x the amount of my original investments... most of that came from investing small amounts on a regular basis rather than attempting to time the market or predict it. I have continued to plead ignorance regarding predicting the BTC market, except for continuing to assert that Bitcoin remains a good investment.