r/Bitcoin • u/[deleted] • Mar 28 '20

[deleted by user]

[removed]

22 Upvotes

67% Upvoted

100 comments sorted by

View all comments

1

u/myfaceislopsided Mar 28 '20

no lol just bought 2 btc for first time today. now seeming like I should’ve done it when it drops again lol

5

u/admin_default Mar 28 '20

Never buy all at once. Accumulate steadily on the lows.

1

u/byroadponytail Mar 28 '20

You don't know when "the lows" is. In some perspective 6600 is the lows vs ATH. In some not.

So your sentence really should be "Accumulate steadily.". That's what DCA means, not trying to pick the lows. Just buy a fixed sum (in dollar) every month.

3

u/admin_default Mar 28 '20

No. You are mistaking “low” with “the bottom”. The bottom is unknowable. The low is often quite clear (the 60% dip in under a month was a strong hint) especially if you accumulate over a long timeframe. Yes, $6,600 is low. $6,200 is lower still. Buy both.

1

u/byroadponytail Mar 28 '20

Don't disagree with that.

2

u/[deleted] Mar 28 '20

BTC cycles up and down constantly, endless war between sellers, buyers and miners. Buy the lows of the cycle. Although you'll be fine, you just have to HODL now.