Topic: Is this a good plan - page 5. (Read 658 times)
Sounds like you’re describing dollar cost averaging which is a good investment strategy. Might I also suggest considering putting in X amount of dollars over a certain time frame. That way if your low price targets aren’t hit you are still purchasing some so you don’t miss out on price increases. I think strategies like this take the emotional element out of investing which is usually new traders’ downfall.
Now that bitcoin price has fallen and around $30000, though it is currently at $32800, I am thinking it is right time to invest, I want to divide my bitcoin investments into 5, this means if the price of bitcoin decrease after I invest, I can still invest further. My first investment was at $31000, if the price of bitcoin decrease to $30000, I will invest again which will be the second investment. If the price decrease to $28000, I will invest again. If the price got to price decrease to $25000, this will be my fourth investment because I will invest at the price. The last investment will be at $20000.
The reason i am doing this is because bitcoin will still increase over $60000 again. Is this a good investment plan?
The reason i am doing this is because bitcoin will still increase over $60000 again. Is this a good investment plan?
I have done that in the past because we never know exactly the floor price or when the price will go up again, it's actually a good strategy the only negative side is on your first part of the purchase the price goes up and starting to go up, you have no choice but to pick up the current price when it is going up, I also believe that the price will reach $60k again hopefully this year.
You can never go wrong investing when the price is going down. So for me this is a good strategy, and as long as you can accumulate and look to hold it for long term, so you don't have to worry. We already know bitcoin's track record, so if the price hits $60k, you are already making profits.
This is the classic, BTFD a winning strategy so at least you are also mitigating the risk on your part. Goodluck!!
This is the classic, BTFD a winning strategy so at least you are also mitigating the risk on your part. Goodluck!!
Now that bitcoin price has fallen and around $30000, though it is currently at $32800, I am thinking it is right time to invest, I want to divide my bitcoin investments into 5, this means if the price of bitcoin decrease after I invest, I can still invest further. My first investment was at $31000, if the price of bitcoin decrease to $30000, I will invest again which will be the second investment. If the price decrease to $28000, I will invest again. If the price got to price decrease to $25000, this will be my fourth investment because I will invest at the price. The last investment will be at $20000.
The reason i am doing this is because bitcoin will still increase over $60000 again. Is this a good investment plan?
The reason i am doing this is because bitcoin will still increase over $60000 again. Is this a good investment plan?
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