Yeah I don't really get those waiting to buy at 12? 13? 14k? It's not like they're buying an entire Bitcoin either. Save a few thousand dollars at the risk of missing out when Bitcoin does actually recover and not look back until the next cycle in a few years.
Not looking down on anyone but it was probably the same with me putting away $100 or so every now and then, and thinking I was smart to time, completely overlooking that at my small amount, the numbers really stop making logical sense in terms of time invested trying to time the market when you're DCA-ing long term.
Me neither, I don't get the i dea of holding out for the price to reach that low, a low which
doesn't look like happening.
Just DCA and if miraculously the price does go that low, just buy more.
It will be impossible to determine the price, but basing your strategy on this plan will be fine.
Bitcoin certainly takes time to rise or recover again, if we look at the previous trend then it takes at least 2 years to be able to pass the previous ATH, during the time waiting then it is better to fill the wallet so that when the price skyrocketed we do not regret because it does not buy when the price is cheap like a current moment and today the price drop again.
Bitcoin will not reach all-time high in 2023. We should keep our expectations to a certain limit as the year 2023 won't be a big market year. We may remain sideways and if there is much volatility, the bitcoin will remain mostly in a range between 20K to 30K. If we are able to close the year over 30K, i think it will be good for the crypto market (after the drama of FTX and the fud of USDT and binance too)
Ah I believe that in the 4th quarter of 2023 we will see a nice bit of action as we approach
the halving. The markets will be getting excited about the halving well before it actually
happens.
Over 6 months before the halving in 2020 Bitcoins price was higher approx $10500
than the day of the halving approx $8500