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That's the reality we'll have to accept, sadly we can't go back in time to accumulate more or start the investment as the case may be,
Frequently, I try to use the past or even to input some data into various DCA calculating websites, like this one:
https://newhedge.io/bitcoin/dollar-cost-averaging-calculatorThere are abilities to compare various strategies and how they might have had played out, and frequently, I like to use the data from the DCA websites to try to shut up the twats proclaiming that trading is better, especially if we are referring to a timeline that is 8 years or more, frequently when we start to refer to timelines that are 8 years or more, it would be quite rare that a trader would be able to beat guys who were concentrating on ongoing and persistent accumulation and holding without selling (except maybe spend and replace).
Even though my own experience in bitcoin has ONLY been since 2013, it seems that quite early in my own bitcoin journey, I had been emphasizing ideas of ongoing buying and holding and deemphasizing trying to trade, and so many times when I had been trying to support my assertions, the short term data (including any period less than 4 years) did not tend to look very good, and frequently there were needs to get into periods of 6 years or longer before there would start to be data to objectively show decent amounts of progress (and even compounding) starting to take place... .and for sure, I would not even be arguing that no guys can beat a DCA style of investing, yet it tended to become quite apparent that many guys who had been selling bitcoin with hopes of buying back cheaper were putting themselves in a worse position both in terms of tending to sell too many too soon but then also putting themselves into a waiting posture rather than an active buying posture, which has both mindset and activity components, even though guys frequently will characterize ongoing buying (and holding) strategies as if they were boring.. which surely I have my doubts about that especially for guys who might be in a position of actively earning money a good and who might have income and/or expenses that fluctuate.. and may also have other investments too that they might be considering whether to merely just compare with bitcoin or to reallocate funds from their other investments into bitcoin.
Depending on where we are at in life, there might not even be needs to reallocate other investments that we might have into bitcoin, and surely I went through some of those considerations mostly in my first couple of years into bitcoin, and by the time I got a couple of years into bitcoin, I felt that I had resolved those reallocations for myself in terms of reallocating some of my other investments into bitcoin, yet a pretty decently high amount of my other investments just stayed mostly in what they were in, with only some relatively minor dickering around here and there along the way.. yet, even the growing of bitcoin, may well also end up forcing some other investments too... which ended up happening with me, too.
So yeah, in regards to our past and whatever we might have had done, or failed to do, we are mostly locked into whatever actions or inactions that we had ended up taking through the years, and so maybe mostly we might be looking back and making various comparisons in order to attempt to improve whatever we might decide to do going forward, to the extent that any changes might be justifiable.
You know I was at work and I saw this post, but I choose to hold and get back home before I calm down to read
Guess what, imagine your new to Bitcoin, and I come to you saying there are couple of ways to BENEFIT from Bitcoin, and I tell you about waiting and buying consistently for a couple of years, from 8 years and above. And I also tell you, you can also buy hold and when market wants to sell, you sell to buy at a cheaper rate and then hold again
Tell me Jay without being biased which of these options will you choose?
One sounds good the other doesn't, right from the hearing who wants to wait that long for rewards when there is another way to benefit and a medium pace.
So information like this reaches the newbies, they go for the easy way, and they get matured in it, most times profits most times loss, Long term profits some realised some not realised, and because it feel like a better option a whole lot of Bitcoiners grow doing this and they are always ready to defend it, anywhere anytime. Although there are also newbies that will insist to go for accumulating long term.
I personally traded Bitcoin at first but my decision affected me badly that I could not catch the best of buys. But one day I looked at the Bitcoin/USD chat, and I said to myself from what I saw, "imagine if I held here without selling and now I will be in some cool solid position" I thought about it for a while and then I bought. All I had in mind was to buy and forget
, but as time went on I learnt about buying more consistently, DCA and I started that as well. You know when all these happen the way I viewed Bitcoin changed totally, the urge to sell wasn't there, my whole perspective changed
Now the reason I told this my little story is because I feel telling people that refused to accept that accumulation is a better option might eventually find out by their self, even if they don't because not everyone is like me. If a day come that they choose to settle down and calculated which of these options has a higher probability of success either patience or trying to get a good buy, and they will realise, and now that the market has been selling, it must have dealt with most of them probably they will get to realise.
Most people learn from their mistakes why most don't, the ones that learn will eventually make the right decision,
The good looking roads aren't always the best roads the inside rods might be very rusty
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