There are two routes you can take:
1. Try to trade, time the market, sell to buy back in lower, wait to buy a lower price, eventually after 3 years capitulate and decide DCA is the way.
2. DCA from day 1, live a chilled existence and grow your wealth by at least 20% a year.
It's up to you, I urge you to urge newcomers to DCA.
IF you are going to trade, learn about trading. YOU don’t start out as a good trader. Even pros only trade 1-3% for risk management. Read some books, make a strategy, follow it, even then you may get rekt but if you’re smart you won’t bet the farm and it is part of learning like anything else you have to learn and practice. If you’ve never successfully traded anything before you aren’t going to magically be good at trading bitcoin.
Exactly this - well said. Newbies come to bitcoin and imagine themselves to be a professional trader. You wouldn't be able to trade profitably in tradfi markets, what on Earth makes you think you can succeed in the volatile rollercoaster that is Bitcoin.
Note - even if you are a pro trader, I still wouldn't play with your Bitcoin, this thing is more valuable than you can ever imagine. Grab it with both hands and never let go. That's my 2 cents. Thanks for commenting!
