Should I buy BTC or DCA other coins? - page 2.

DoublerHunter

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Quote from: Wexnident on June 04, 2022, 12:53:44 PM

Quote from: KingsDen on June 04, 2022, 06:33:01 AM

A core bitcoiner will always tell you to buy bitcoin. And that is a nice advice. The great difference between bitcoin and some altcoins is, in 5years time, we are sure to see bitcoin here, but this cannot be said for many altcoins.

In the other hand, a lover of altcoins will give you some good coins you will buy which can do x2 to x5 for you and that cannot easily be said of bitcoin. So, it all boils down to what you want.

True. Most Bitcoiners look at investment opportunities in the long term, while altcoins are more of a short term instead since majority of them are built up on hype and they die off after a few months or maybe even weeks of release. Nothing odd about it though, that's just how most of them goes.

^ I rather apply the DCA way of buying BTC than altcoins.
For peace of mind, BTC is the right answer, you can invest it and wait for it for a long period of time purpose and if your profit was there of course it is easy for you to sell them all and invest back when there is a correction. Altcoins nowadays did not have a real utility, aside from those at the top of the coin market cap. We should avoid them, especially those meme coins that price increases through the hype. Remember that a high yield return coins are possible to turn out into scams.

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Quote from: Slow death on June 04, 2022, 11:31:27 AM

I think people need to be cautious about buying bitcoin at this time when the market is going through a dangerous phase where buyers don't know what the price difference is, if we're going to have any reversals to the upside or if it's accumulating and then it could be drop even further to levels like $20,000 to $14,000, so even if people think about doing DCA they need to be careful about this part so they don't have problems in the future. imagine that someone buys now at 29000$ and then the price drops to 20,000$ or 14000$? the right thing is to wait for the price to stay above $32000 and show signs of an uptrend reversal

But that defeats the purpose of DCA imo. Minding about the buy-in period when you're purpose is to buy for the long term kinda defeats the purpose of, well, doing it. If you were to start minding the buy period of yours, then might as well just trade it in the short term, or might as well just day trade even.

Quote from: KingsDen on June 04, 2022, 06:33:01 AM

A core bitcoiner will always tell you to buy bitcoin. And that is a nice advice. The great difference between bitcoin and some altcoins is, in 5years time, we are sure to see bitcoin here, but this cannot be said for many altcoins.

In the other hand, a lover of altcoins will give you some good coins you will buy which can do x2 to x5 for you and that cannot easily be said of bitcoin. So, it all boils down to what you want.

True. Most Bitcoiners look at investment opportunities in the long term, while altcoins are more of a short term instead since majority of them are built up on hype and they die off after a few months or maybe even weeks of release. Nothing odd about it though, that's just how most of them goes.

Slow death

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I think people need to be cautious about buying bitcoin at this time when the market is going through a dangerous phase where buyers don't know what the price difference is, if we're going to have any reversals to the upside or if it's accumulating and then it could be drop even further to levels like $20,000 to $14,000, so even if people think about doing DCA they need to be careful about this part so they don't have problems in the future. imagine that someone buys now at 29000$ and then the price drops to 20,000$ or 14000$? the right thing is to wait for the price to stay above $32000 and show signs of an uptrend reversal

Quote from: justdimin on June 04, 2022, 08:19:01 AM

Quote from: Ziskinberg on June 02, 2022, 09:10:04 AM

Perhaps, it was not be going hard to decide. Of course, we give favor and choose the best for us. Choosing altcoins during this bear season is not a good idea, we'd pertain to choosing Bitcoin instead, that's right. The use of DCA is not only suitable during the bearish time but also and I believe it was a must when doing trading.

Well, I guess OP had already gotten an idea, But I suggest taking the option that seems to serve the best him/her. It is somewhat important to pick the one that we know could help and enhance our chances.

I agree, choosing altcoins during this period means nothing to me as well and it means a lot of terrible results in the end. We should be managing to do something that will make us a lot of profit and bitcoin is the way to go there, altcoins could maybe potentially make us profit as well but which one? That is why it is unknown.

If we are talking about ETH or BNB for example then it could possibly be the same result but if we are talking about something else then the result may not be what we are looking for and there are some that go down or not go up a lot even during the bull periods. This is why I agree that bitcoin is the way to go.

Certainly after Luna, who no longer trusted altcoins, became afraid of altcoins, luna proved that altcoins are the biggest danger in this cryptocurrency market. if people buy altcoins now they should expect that one day the price will drop to zero

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

What could have been the best asset is the one you certainly lacked of. So for now, focus on bitcoin. You can do DCA if you want but do it with bitcoin because i believe the more bitcoin you hodl in your wallet, the brighter your future will be. That is why when the market is in bearish, majority of the investors grab the opportunity to buy bitcoin because its the best asset at the moment that will certainly give a lot of profits in time. Just be patient while hodling it, and so with your prior investments. Bitcoin will paid off once it breaks its new ATH, and so with some of the established altcoins.

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Quote from: Ziskinberg on June 02, 2022, 09:10:04 AM

Perhaps, it was not be going hard to decide. Of course, we give favor and choose the best for us. Choosing altcoins during this bear season is not a good idea, we'd pertain to choosing Bitcoin instead, that's right. The use of DCA is not only suitable during the bearish time but also and I believe it was a must when doing trading.

Well, I guess OP had already gotten an idea, But I suggest taking the option that seems to serve the best him/her. It is somewhat important to pick the one that we know could help and enhance our chances.

I agree, choosing altcoins during this period means nothing to me as well and it means a lot of terrible results in the end. We should be managing to do something that will make us a lot of profit and bitcoin is the way to go there, altcoins could maybe potentially make us profit as well but which one? That is why it is unknown.

If we are talking about ETH or BNB for example then it could possibly be the same result but if we are talking about something else then the result may not be what we are looking for and there are some that go down or not go up a lot even during the bull periods. This is why I agree that bitcoin is the way to go.

KingsDen

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A core bitcoiner will always tell you to buy bitcoin. And that is a nice advice. The great difference between bitcoin and some altcoins is, in 5years time, we are sure to see bitcoin here, but this cannot be said for many altcoins.

In the other hand, a lover of altcoins will give you some good coins you will buy which can do x2 to x5 for you and that cannot easily be said of bitcoin. So, it all boils down to what you want.

My advice is always to buy bitcoin if the money is not what you want to pay rent next month with.
Note that you can also DCA bitcoin, averaging is not only particular to altcoins.

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Quote from: Despairo on May 24, 2022, 09:32:08 AM

The better choice is buy Bitcoin with DCA strategy, why should DCA other coins? ETH, SOL, and DOT are centralized coins, I don't see any reason why we should trust centralized party when it's about cryptocurrency. Trusting a centralized party is similar like you trust a bank. I still consider $30K is still cheap for Bitcoin, though it may go lower in this year.

Yes, seeing that bitcoin price will drop more in this bearish market, then doing DCA would be the safest way. Its the only way where we can still maximize our hodlings even when we can't buy at its bottom price. However, for those other coins you mentioned, for me no need to DCA, but its definitely your own final decision in the end.

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Quote from: Silberman on June 02, 2022, 11:57:29 AM

Quote from: passwordnow on June 02, 2022, 08:01:48 AM

I have read someone just now that DCA doesn't work. Well, I didn't been able to get a reply as that person seems there just to drop by a comment and then won't reply back to the debate that he has started. Talk to the people that have been DCAing with bitcoin and you'll all receive a positive response from them. Not to mention those that have bought a bunch during the early days, they're still on bitcoin and keep on holding it because they have a goal and vision towards its future.

As we know dollar cost averaging is just a strategy, and like any strategy it has limitations, in a market which does not move much then I would guess this is a strategy which will not work very well, however when it comes to an asset like bitcoin which can show extremely strong trends then dollar cost averaging is without a doubt a strategy that can work, it is just that it needs to be performed regularly and for a significant amount of time.

Yeah, that probably didn't worked for him but he just said that it doesn't work and there's no justification on why he said that. Well, that's social media and there's no need for anything to prove whether they say a truth, an opinion. I saw someone replied on him that exact thing you've said that DCA works for bitcoin and then, that's all. No reply and that's why I've come to think that there will always be people that will be against to the fact that you've known without justifying their stance.

Silberman

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Quote from: passwordnow on June 02, 2022, 08:01:48 AM

I have read someone just now that DCA doesn't work. Well, I didn't been able to get a reply as that person seems there just to drop by a comment and then won't reply back to the debate that he has started. Talk to the people that have been DCAing with bitcoin and you'll all receive a positive response from them. Not to mention those that have bought a bunch during the early days, they're still on bitcoin and keep on holding it because they have a goal and vision towards its future.

As we know dollar cost averaging is just a strategy, and like any strategy it has limitations, in a market which does not move much then I would guess this is a strategy which will not work very well, however when it comes to an asset like bitcoin which can show extremely strong trends then dollar cost averaging is without a doubt a strategy that can work, it is just that it needs to be performed regularly and for a significant amount of time.

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Quote from: danherbias07 on May 29, 2022, 03:37:21 AM

Bitcoin first. That decision should not be thought twice, especially with DCA which is ideal for long-term investment, buy it if you have the money. Then, you can start thinking about diversifying your portfolio.
Save another set of money for those altcoins that you want to buy, but I suggest going for Ethereum next.
Then, repeat. One more set for other coins that you got your eyes with and in this case SOL or DOT, right? The safest first before going to high-risk cryptocurrencies. That way you will have a fallback when the worst things come. Like what happened with Luna. Remember, no one is prepared for sudden dumps.

Perhaps, it was not be going hard to decide. Of course, we give favor and choose the best for us. Choosing altcoins during this bear season is not a good idea, we'd pertain to choosing Bitcoin instead, that's right. The use of DCA is not only suitable during the bearish time but also and I believe it was a must when doing trading.

Well, I guess OP had already gotten an idea, But I suggest taking the option that seems to serve the best him/her. It is somewhat important to pick the one that we know could help and enhance our chances.

passwordnow

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I have read someone just now that DCA doesn't work. Well, I didn't been able to get a reply as that person seems there just to drop by a comment and then won't reply back to the debate that he has started. Talk to the people that have been DCAing with bitcoin and you'll all receive a positive response from them. Not to mention those that have bought a bunch during the early days, they're still on bitcoin and keep on holding it because they have a goal and vision towards its future.

rhomelmabini

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Quote from: wxa7115 on May 30, 2022, 05:08:02 PM

Quote from: rhomelmabini on May 30, 2022, 03:58:44 PM

I think it's a good habit that if you want to DCA in a bear market, it's best to collect BTC instead of alts that may nose dive even further compare to BTC. Time has tell that it was always the case, there might be some alts that was still up or doesn't lose much of its value but that's a rare stuff to see, most are getting lowered. Make your portfolio having the large asset in Bitcoin, recommended.

At the moment bitcoin is experiencing a small recovery and it is trading above 31k right now, it is still a very good price to enter the market or to employ the DCA strategy and reduce the price of the coins we are holding.

But we need to be careful as the price could go down at any moment, so for anyone that is thinking on investing right now they need to take this into consideration so in the case the price begins to go down again they do not get scared and sell their coins for an even lower price.

Yeah, it's more like a relief considering we have been in the downtrend for over two months now and other analysts are expecting that we can have a June rally. It's hard to trade during a bear market, lot of FOMO, hopefuland wishful thinking comes in mind and the worst part is that it would nosedive within minutes and could be double digit negative for hours.

This is a wild west and people should expect to lose if they risk trading in a bear market. I'm not saying you won't be able to make profits, but I'd suggest that be fast and stay cautious as you can.

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Quote from: wxa7115 on May 30, 2022, 05:08:02 PM

Quote from: rhomelmabini on May 30, 2022, 03:58:44 PM

I think it's a good habit that if you want to DCA in a bear market, it's best to collect BTC instead of alts that may nose dive even further compare to BTC. Time has tell that it was always the case, there might be some alts that was still up or doesn't lose much of its value but that's a rare stuff to see, most are getting lowered. Make your portfolio having the large asset in Bitcoin, recommended.

At the moment bitcoin is experiencing a small recovery and it is trading above 31k right now, it is still a very good price to enter the market or to employ the DCA strategy and reduce the price of the coins we are holding.

But we need to be careful as the price could go down at any moment, so for anyone that is thinking on investing right now they need to take this into consideration so in the case the price begins to go down again they do not get scared and sell their coins for an even lower price.

The price could fall, and if OP have invested back on the day he started the thread now he can book his Profit and go for a buyback with the DCA. During 24th May the price have marked a low of $29k, and now it is nearing $32k. The difference marks the profit and this is good during a bearish market. As the market is much dependent on the move of bitcoin, the altcoins too have begun to turn green. Ethereum have crossed $2000 which is to bump the price of majority of the altcoins.

wxa7115

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Quote from: rhomelmabini on May 30, 2022, 03:58:44 PM

I think it's a good habit that if you want to DCA in a bear market, it's best to collect BTC instead of alts that may nose dive even further compare to BTC. Time has tell that it was always the case, there might be some alts that was still up or doesn't lose much of its value but that's a rare stuff to see, most are getting lowered. Make your portfolio having the large asset in Bitcoin, recommended.

At the moment bitcoin is experiencing a small recovery and it is trading above 31k right now, it is still a very good price to enter the market or to employ the DCA strategy and reduce the price of the coins we are holding.

But we need to be careful as the price could go down at any moment, so for anyone that is thinking on investing right now they need to take this into consideration so in the case the price begins to go down again they do not get scared and sell their coins for an even lower price.

rhomelmabini

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I think it's a good habit that if you want to DCA in a bear market, it's best to collect BTC instead of alts that may nose dive even further compare to BTC. Time has tell that it was always the case, there might be some alts that was still up or doesn't lose much of its value but that's a rare stuff to see, most are getting lowered. Make your portfolio having the large asset in Bitcoin, recommended.

Botnake

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

If you are too worried with the future of your coins, then maximize your investment in bitcoin. No doubts that it will make the best asset for you in the future. So do the DCA for bitcoin if you want to give it a full blast, since every now and then its price is still dropping. Do not be over pressured on the other coins, just invest on the amount you can afford to lose. But with bitcoin, you know it won't disappoint you so reserve good amount of funds for it.

sklopan

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Are you sure you're a trader?

I don't quite understand why you should ask such a question. I think you can answer it yourself.

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

Consider buying BTC now if you already own DCA, ETH, SOL, and other cryptocurrencies. The current price of BTC is at an excellent purchasing level, and if held for an extended period of time, will yield a significant profit. After a long period of holding, I believe you will have a great story to tell. BTC is an excellent investment since many big investors have it in their personal wallets and keep it because they believe in it.

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Quote from: topman21 on May 29, 2022, 12:51:33 PM

If you want to invest in this market, I can definitely advise you to invest in Bitcoin. Investing in Bitcoin will definitely not hurt you like that The current market is completely out of the analysis of the people.Invest in Bitcoin directly instead of investing in nonsense coins right now. In addition, Ethereum BNB can buy and invest all these coins.

Bitcoin is the first choice for the long term if you want to make a profit. Of course they probably shouldn't ignore all the good potential altcoin like ETH and BNB as they both have great use cases as altcoin. If they want then they can also diversify their assets to some of the top altcoin but if it were me then I would choose bitcoin which dominates the portfolio for long term investment.

Granted, no one knows about the future of this crypto asset, but things to consider such as increased adoption should be the reason why bitcoin deserves to be in an investment portfolio. However, they still have to consider the risk that they should only invest their money to what extent they can afford to lose.

topman21

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Quote from: a298b112 on May 24, 2022, 09:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

If you want to invest in this market, I can definitely advise you to invest in Bitcoin. Investing in Bitcoin will definitely not hurt you like that The current market is completely out of the analysis of the people.Invest in Bitcoin directly instead of investing in nonsense coins right now. In addition, Ethereum BNB can buy and invest all these coins.

Topic: Should I buy BTC or DCA other coins? - page 2. (Read 645 times)