The days has come again that Bitcoin has been spoken about at the Christmas dinner. All of a sudden people are interested and want to know ‘when is the best moment to buy’. This is when you see that something has changed and that the world is looking into a different direction again.
Bitcoin is back into the picture of the ‘normal’ world.
Dollar cost averaging
When a friend asked me earlier in the week if this is a good moment to buy Bitcoin (which is funny because we all said around 17K, ‘dude…if you don’t own any, just buy some bitcoin without hesitation) because he was waiting for the dip. This was interesting because BTC had just fallen back from 34K to 29K (which to me seems like a decent dip to do something useful) and he was waiting for the perfect moment.
If you ask me you never know when the dip is in these short moments, so when you are in doubt of buying any, just dollar average in there. Buy a bit in multiple different days and you will never feel bad about it.
When you put in everything in the game and this turns out to have been the expensive day, it will suck.
When you buy too little to nothing waiting for the dip you also might just get wrecked when the price skyrockets up all of a sudden.
When you average over multiple days you take away this element. Getting a bit which doesn’t hurt to much in the wallet is always a good one, because then ‘at least then you owe some’
It is all a matter of mental perception what suits you.
Fearful
The better thing to have done of course was to buy earlier. The ‘be greedy when others are fearful-tactic’. But naturally that is scary, because …you know.. fearful. And actually it makes no sense thinking back until that point apart from that you learn from it for the next cycle. And you can tell this to anybody, people only will try and get in when the big bucks are already there.
Any moment before BTC is scary shit ‘and going to zero’ and anyone who invests in this is crazy. You know the general opinion right?
Well, I guess the averaging is the only way to sell this to your friends without them hating you afterwards for giving them either ‘bad advice’ or ‘not pushing them enough to buy more’
But that….is everybodies own boundary