๐ธDOLLAR COST AVERAGE๐ธ
Yesterday, a gentleman in the comments asked me a wonderful question, so this post goes out to him. ๐
DCA or dollar-cost averaging is a wonderful tool, especially when Bitcoin and the rest of the crypto market are in this downtrend. ๐ฐ๐
So, what is DCA? ๐ค
Well, by definition, dollar-cost averaging is the practice of investing a fixed dollar amount on a regular basis, regardless of the share price. ๐ฐ๐
With this investment type, you take possibility out of the question. ๐ธ
With this technique, you emphasize time in the market rather than timing the market. โณ๏ธ๐
When you start, you need to see what budget makes sense, and from then on periodically put a fixed amount of money from the budget into the investment you want. ๐งโโ๏ธ๐
You can take this even a step further; you can do this by deciding to put money in the market every time the price of the investment goes down by more than 10%. ๐จ๐ฅ
This technique is amazing, even if you are a well-seasoned investor or trader! ๐๐ฐ
Take advantage of it, use it, and see the profit you will make from it. ๐ฏ