When I employ a DCA.. such as giving myself a weekly allowance, I try to hit the lows within that week... and if the week comes close to ending without my spending my allowance, then I will spend at whatever the price is at the end of that week. Of course, you can set the days that the week begins and ends at any day that you wish.
From my point of view, one of the problems with set it and forget it on most exchanges is that they do not let you set your DCA at an exact time, so they end up daily batching them and potentially front running them. If they let you set an actual time then I would not be against any DCA practice with an exchange that allows for that.
I think I'll do it like you. I hadn't even thought about programming a timed order, I looked at my exchange and this doesn't seem to be an option anyway.From my point of view, one of the problems with set it and forget it on most exchanges is that they do not let you set your DCA at an exact time, so they end up daily batching them and potentially front running them. If they let you set an actual time then I would not be against any DCA practice with an exchange that allows for that.
I guess there are regulatory issues with such orders, why was this one executed before that one, stuff like that.
I have been further considering my earlier response to you aesma, and for sure, the considerations of anyone trying to maximize his/her BTC purchases in order to establish a solid BTC position is going to vary when one comes into bitcoin after the BTC price had spent several months on a tear, including having had increased in price by 100x over the prior year - which was the case when I got into bitcoin at the end of 2013, versus now when the BTC price had gone down in price way lower than any of us had expected in terms of going 35%-ish below the 200-week moving average.. .so of course, questions about BTC price location could affect how much you might decide to lump sum in or front load your BTC investment rather than DCA'ing.. but of course, you were not really asking me about that....
And, for sure, your own particulars matter, including whether you had sold any BTC on the way up to $69k or back down to $16k-ish.. and then how much had you deferred your buying of BTC, so you maybe should have had been DCA'ing all along, and then now you may have deferred DCA, which might justify buying in lump sum and buying on dip rather than DCA'ing.. .and for sure these are discretionary matters and I frequently think about how difficult it might be to try to employ DCA during times in which the BTC price might be shooting up.. and that may even be worse than employing DCA while the BTC price is going down because at least when the BTC price is going down you know that you are getting more sats than you had gotten on your previous purchase, and the opposite would be true if you are DCA'ing while chasing the BTC price upwardly... so in those cases there may well be preferences to front load if you anticipate that you have deferred DCA buying for a long time and you might also be considering that the BTC price may well go shooting up.
Another thing is that if you really do not have a situation in which you had been delaying your earlier DCAing, but instead, you are just coming across more cashflow, and maybe in those kinds of situations you just buy what you can on a weekly basis.. and consider whether you might hold some of that value in case the BTC price might dip, while realizing that the BTC price may not dip as much as the price had been earlier.
No matter what it is not easy, and part of the reason that we might want to buy steady and on a regular basis is because the more that you end up buying on a regular basis, then you should have better ideas in regards to what your BTC target levels are and more likely that you have already largely gotten yourself "on-track'.. the more time that you have, the more likely you should be able to have your stacking figured out and so each little incremental addition would not be as BIG of a deal as it had been several years earlier. In theory, that should be how more time in the market ends up beating out attempts to time the market... so of course, with you, you have mentioned to me that you have had several false starts along the way (which indicates screw ups), but even if we might say that you have gotten more serious about BTC accumulation in the past 4-5 years, then wouldn't you have had accumulated a decent amount of BTC in the sub $10k price arenas, so in that case you should not necessarily be as panicked about continuing to accumulate BTC in the supra $16-24ks.. so each time you DCA, its just another fraction of a percentage added on.. so it could take you several months just to add 1-2% onto your already accumulated BTC stash, no?
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The Bank for International Settlements (BIS) has now allowed banks to now hold 2% of their reserves in cryptocurrencies as per its recently released Prudential Treatment of Crypto Asset exposure report for December 2022. In June, the BIS had allowed only a few banks to hold not more than 1% of their reserves in cryptos.
https://www.investing.com/news/cryptocurrency-news/bis-allows-banks-to-hold-2-of-their-reserves-in-cryptocurrencies-2966647Don't shoot the messenger, I didn't pick the wording
In regards to bitcoin specifically, I would suggest anywhere between 1% and 25% for someone who is a responsible grownup.. so yeah, maybe banks have to work their lil selfies up towards the higher end of the range... .. but if they are actually contemplating shitcoins or "crypto" then fuck that nonsense, I am not even sure if 1% would be tolerable for that.. maybe 0.25% at most?... or maybe up to 1% of the bitcoin amount.
Hopefully shitcoins are not on that list but even if they were I don't see institutional banks receiving capitol from national treasuries as foolish enough to do a full
If the announcement of the govt regulations is not offering very many specifics, we still my be able to speculate that banks might start to offer various kinds of services that merely involve safeguarding BTC and maybe charging some fees for such, but yeah maybe they would not be able to help themselves in terms of starting to offer various other kinds of services that banks offer - so yeah, longer term bitcoiners might well conjecture that the banks might well want to start with bitcoin and then perhaps start to dabble further into other kinds of offerings, and maybe we might also expect that they might end up going way too much into shitcoins, which causes us to conclude that they do not know what the fuck they are doing, and the law had not provided enough guidance for them. I am not going to proclaim to know, but we have tended to see quite a few traditional financial institutions who might say that they are focusing on bitcoin, but then they begin to dabble and then there is a kind of slippery slope that causes many of us to wonder if they really know what they are doing.. so yeah, they may well end up with a kind of Coinbase model.. but still end up getting themselves reckt in a variety of ways before realizing that they should be attempting to keep their focus on bitcoin and be evven more risk averse when it comes to shitcoins, but I cannot imagine that many of them will actually engage in such self-restrictions without getting burnt a few times, first.
Ok now is starting to look like bull flag on short-term time-frame, after failing ascending triangle break-out. Still expecting a fake-out to higher levels above $21.5K but this ain't no shorting range.
if that's not a good price point to short what is?this has been one hell of a pop, I fully expect a strong pull back, maybe even retesting 15.5k.
I say, no time like the present. Go for it!!!!!, especially when it is not my money.
