Failed DCA Strategy When Buying Bitcoin

[Hamza2424]

Many times we get excited and make wrong decisions. But we know that patience here has great benefits for me. But, we still can not have that patience! Why? This is a bad habit of many people. Due to this bad habit they often suffer losses.

When it comes to buying Bitcoins, the DCA method is a much more efficient and profitable method. However, if you accidentally buy bitcoins by ignoring the DCA method, you must be patient and learn from your mistakes. There is no need to panic or get excited when the market goes down. In such a situation, the possibility of making wrong decisions is high. Remember, Bitcoin has not disappointed the patient so far. No matter how you invest in Bitcoin, one thing you need to keep in mind is that the investment should be long-term. But I will give most importance to DCA method.

Firstly thanks bro, i was discussing the same DC-related topic a while ago, and your mention helped me to put some part of inefficiencies in profitability possibilities in DCA that can help some blind DCA lovers avoid serious loss. So I've quoted this thread there so people can check this thread to have a different angle on DCA.

Secondly, Thanks sir I will follow your advice from the bottom of my heart. From now on the old GF - DCA is my only wife so you can say DCA is my life partner now but i can't...... haha just trying to have some fun.

[JayJuanGee]

The owner of this address bought a million dollars worth of Bitcoin every day from August 11, 2021 to January 1, 2023.

https://bitinfocharts.com/bitcoin/address/bc1qw0pswznckx7s6tjmd2f5hrx4q6kc5nyrdxku50
Received:   17,536.2628 BTC (517 ins)   first: 2021-07-25   last: 2022-12-28
Sent:   17,536.2628 BTC (517 outs)   first: 2023-01-01   last: 2023-03-05
Profit from price change:   -239,395,601.9 USD

Approximately $460 million was spent buying Bitcoin, resulting in a loss of over $239 million. Perhaps this investor did not know that the DCA strategy is better to use for a longer period, or perhaps he found a more profitable investment.

I can't really explain the exact date and time he bought and sold all his bitcoin holding as the information is in the link provided by the op. But to whatsoever be the case I believe that the real cause of his selling was for one thing or the other which I believe it's not a good reason for him to sell. As we have been taught that HODLing for long is more reliable even though it may as well be risky and may also not be assured. bitcoin growth price as of july: 2021-07-25 to December: 2022-12-28 that was a good time of buying compeard to now, he could have made alot of profit if he sold 2024 or maybe in 10 years from now. I consider his method as a lump sum method because I dont see anything relating to DCA. For me I count any method of Buying as a good one despite how he baught it. I don't consider it a fails strategy according to the op, but where the failure comes as a result of selling his bitcoin holding in an inappropriate way. Buying bitcoin is never a problem but selling without a good plan it becomes the problem.

I just read through this thread in the past few days too, and there surely is quite a bit of speculation going on, including the speculation of selling seems quite ill-founded, illogical and unlikely.  There surely is not even close to enough evidence that the buyer of such coins actually sold.. or even that the buyer discontinued buying after December 28, 2022.

If we presume that the buyer was buying $1million worth of bitcoin each day for a year and a half, then surely that would be DCA, even if the amounts are a lot... and it would be DCA if they were done weekly, monthly or quarterly too.

But yeah, you can mix up your terms and mix up your ideas and call it whatever you like.

Generally, I like to think about lump sum as a kind of one time consideration about how to treat a certain amount of money that comes into your possession whether it is from some out of routine kind of receipt such as a bonus, or inheritance, sale of a property, winning the lottery, robbing a bank (not that I am advocating crime) or whatever, there comes to be a decision to make regarding whether to invest that extra money right away or perhaps to DCA it or to buy on dips... so the purchases right away could be labeled as lump sum, but yeah the categories re not exactly strict, even though surely some ways of describing what is being done is more clear than other ways of engaging in such description, and surely there can be a good amount of importance in weighing options, even if we might come to varying conclusions regarding how to label (or what to call) what we are doing (considering).

Of course in various other forum threads many of us frequently talk about how long a person's initial timeframe might be, and even though someone is investing a lot on a daily basis (such as $1million), we cannot really know or presume his circumstances, yet there could be a lot of circumstances in which a person like that would not need to go through a long period of accumulation in order to meet his accumulation level goal/target...

So what might such target be?  If his investment portfolio is $5 billion or something like that, then we might speculate that he might have been working towards getting to 10% of his investment portfolio in bitcoin  (assuming that he ended up investing around $500 million), but that kind of a budget (investment portfolio) would not apply to very many folks or institutions, so surely we cannot really know the size of his budget, and even if his total investment portfolio were close to $1 billion, we might say that investing $500 million-ish is overly accumulating in bitcoin, but surely there could be some folks who might be o.k with having such high allocations to bitcoin, even though having such high allocations might not be so prudent or practical for someone who has a much lower budget.

For example, a guy who might have a $50k per year income, might have and investment portfolio that is $100k, and maybe he is able to invest $100 to $200 per week into bitcoin, and so ongoingly investing - especially when the market is down (such as what the $1million per day investor did in this case) may well contribute towards reassessment of strategies after the BTC price ended up going UP 2x from his likely average cost that would have had been around $29,500 per BTC or something in that ballpark range.

Many of us know that in bitcoin, a 2x price appreciation might not even be something that necessarily compels us to take any actions or to conclude that the BTC price had reached its top... so someone who ends up being around 2x in profits might not necessarily sell any BTC, and may even continue to accumulate BTC, depending upon his own particulars.

Many times we also talk about general principles in regards to making sure that you accumulate bitcoin for at least a whole cycle and don't fuck around with trading during that time, just focus on accumulating bitcoin for a whole cycle and then reassess your situation after a whole cycle.  These kinds of restrictions might also not really apply so much to someone who may have had the means to front load his investment  - even though surely my own recommendation would not involve getting in and out of BTC positions over less than a whole cycle, but at least anyone who had front loaded his bitcoin investment in the first 1 or 2 (which may be the case with the $1million per day guy), he ends up having more options in terms of the potential that he had frontloaded his investment, and there are advantages in terms of having your BTC portfolio in profits, but there are not as many advantages as a likely plan that involves ongoing holding of BTC that allows for compounding of value over the years, even though surely the compounding of value is not guaranteed, so each of us has to make choices regarding how much of our BTC holdings we are holding for long term or maybe if at some point we also might be ok with engaging in some withdrawals, especially if we might consider such withdrawals in sustainable withdrawal system.. that become more likely to become applicable if we had already accumulated and/or overaccumulated our BTC stash versus those folks who may still be in their accumulation stages would not have such options to justify their engaging in such sustainable withdrawal strategies if they had no yet met or exceeded their BTC accumulation goals..

[BlackBoss_]

If we presume that the buyer was buying $1million worth of bitcoin each day for a year and a half, then surely that would be DCA, even if the amounts are a lot... and it would be DCA if they were done weekly, monthly or quarterly too.

But yeah, you can mix up your terms and mix up your ideas and call it whatever you like.

Agree with you that DCA strategy can be used with many different purchase intensity and different investors will apply this strategy in their own ways. The practice will be affected by their capital source and available capital as well. Investors can not do DCA even they want if capital source is broken at some point of time in their investment.

If I only buy bitcoin one time a year but I do it in many years, it is still DCA.

I don't trade but make one purchase a year for my investment and this is my yearly DCA and I don't have to purchase bitcoin on an exact day like 1 January of each year to call my investment strategy is DCA.

[JayJuanGee]

If we presume that the buyer was buying $1million worth of bitcoin each day for a year and a half, then surely that would be DCA, even if the amounts are a lot... and it would be DCA if they were done weekly, monthly or quarterly too.

But yeah, you can mix up your terms and mix up your ideas and call it whatever you like.

Agree with you that DCA strategy can be used with many different purchase intensity and different investors will apply this strategy in their own ways. The practice will be affected by their capital source and available capital as well. Investors can not do DCA even they want if capital source is broken at some point of time in their investment.

If I only buy bitcoin one time a year but I do it in many years, it is still DCA.

I don't trade but make one purchase a year for my investment and this is my yearly DCA and I don't have to purchase bitcoin on an exact day like 1 January of each year to call my investment strategy is DCA.

Yes.  I think that we are on the same page BlackBoss_.

You could have daily, weekly, monthly, quarterly, twice a year, yearly or some other increment that might not even be exactly the same each time.

For example, maybe you have a take-home-pay income of $50k per year, and you have fixed expenses around $30k per year and flexible expenses around $8k per year, and maybe you consider that your remaining $12k is discretionary income that can be used for bitcoin and for other things (including investments and other things that you might want to save up for)... so maybe you don't really want to buy bitcoin regularly, and you have some other investments and other ways that you spend your money, but maybe you put aside whatever you might feel is warranted for bitcoin, which might be around $100 per week, but you don't really want to buy every week, yet once that amounts gets up to $2k or more, then you might start to get interested in considering buying bitcoin, so you might have some practice that is more based on how large your reserve fund gets, and you consider $2k to be an amount that trigger you to want to use it. 

So maybe sometimes your bitcoin reserve fund gets up to $2k in 3-4 months, and other times, it might take 4-8 months before it gets up to the amount that you have set to be your "triggering" amount, and yeah, I would consider that to be a form of DCA since it is based on both discretionary income and it is has some kind of a structure regarding buying regularly and sets conditions upon which the fund is triggered that is based on the building up of a certain amount, which is not quite time based, but it still may well be somewhat irregularly regular. 

So your amount invested could vary or your timeline could vary but if you are investing somewhat regularly, I would still consider it to be a form of DCA.. even though many members likely realize that I am a pretty BiG fan of weekly DCA, especially for beginners, yet I also realize that once a person gets some investment practices in place and including maybe being influenced by the size of the bitcoin stash that he has already created, then he has more liberties to be more flexible in his BTC accumulation techniques and/or intervals of investing into BTC.

[Frankolala]

If we presume that the buyer was buying $1million worth of bitcoin each day for a year and a half, then surely that would be DCA, even if the amounts are a lot... and it would be DCA if they were done weekly, monthly or quarterly too.

But yeah, you can mix up your terms and mix up your ideas and call it whatever you like.

Agree with you that DCA strategy can be used with many different purchase intensity and different investors will apply this strategy in their own ways. The practice will be affected by their capital source and available capital as well. Investors can not do DCA even they want if capital source is broken at some point of time in their investment.

If I only buy bitcoin one time a year but I do it in many years, it is still DCA.

I don't trade but make one purchase a year for my investment and this is my yearly DCA and I don't have to purchase bitcoin on an exact day like 1 January of each year to call my investment strategy is DCA.

Yes.  I think that we are on the same page BlackBoss_.

You could have daily, weekly, monthly, quarterly, twice a year, yearly or some other increment that might not even be exactly the same each time.

For example, maybe you have a take-home-pay income of $50k per year, and you have fixed expenses around $30k per year and flexible expenses around $8k per year, and maybe you consider that your remaining $12k is discretionary income that can be used for bitcoin and for other things (including investments and other things that you might want to save up for)... so maybe you don't really want to buy bitcoin regularly, and you have some other investments and other ways that you spend your money, but maybe you put aside whatever you might feel is warranted for bitcoin, which might be around $100 per week, but you don't really want to buy every week, yet once that amounts gets up to $2k or more, then you might start to get interested in considering buying bitcoin, so you might have some practice that is more based on how large your reserve fund gets, and you consider $2k to be an amount that trigger you to want to use it. 

So maybe sometimes your bitcoin reserve fund gets up to $2k in 3-4 months, and other times, it might take 4-8 months before it gets up to the amount that you have set to be your "triggering" amount, and yeah, I would consider that to be a form of DCA since it is based on both discretionary income and it is has some kind of a structure regarding buying regularly and sets conditions upon which the fund is triggered that is based on the building up of a certain amount, which is not quite time based, but it still may well be somewhat irregularly regular. 

So your amount invested could vary or your timeline could vary but if you are investing somewhat regularly, I would still consider it to be a form of DCA.. even though many members likely realize that I am a pretty BiG fan of weekly DCA, especially for beginners, yet I also realize that once a person gets some investment practices in place and including maybe being influenced by the size of the bitcoin stash that he has already created, then he has more liberties to be more flexible in his BTC accumulation techniques and/or intervals of investing into BTC.

I agree with you because it is a similar way that Michael Saylor used to accumulate his bitcoin for MicroStrategy. He started his bitcoin journey in 2020 in three different months and he bought once in 2021,2022,and 2023. While in 2024 he has bought twice  who knows if he will buy again.

I think we can still call his accumulation method DCA. This is because if you add his total bitcoin, you will have the average price per bitcoin which I believe is what DCA helps us to achieve.

[slaman29]

I can't believe some of the nonsense I read on this forum sometimes. Makes me want to murder most of you.

Failed DCA strategy? DCA doesn't fail. If it fails, it's not DCA.

How can you get something so simple like DCA wrong? Buy, all the time, any time, don't even look at price. That's impossible to fail.

[khiholangkang]

I can't believe some of the nonsense I read on this forum sometimes. Makes me want to murder most of you.

Failed DCA strategy? DCA doesn't fail. If it fails, it's not DCA.

How can you get something so simple like DCA wrong? Buy, all the time, any time, don't even look at price. That's impossible to fail.

But it is true, people who use the wallet have failed in their Investments, in theory the DCA does not fail, but what fails is the Investment, he does not hold long enough, investment failure does not mean failure in the staretginya, it's just that people who use wallets do not have great patience, maybe if today he has a very extraordinary profit especially when bitcoin hits its latest ATH.

The DCA is correct by using the daily timeframe, and no one has failed in the DCA. IMO

[Abu-Naim]

But it is true, people who use the wallet have failed in their Investments, in theory the DCA does not fail, but what fails is the Investment, he does not hold long enough, investment failure does not mean failure in the staretginya, it's just that people who use wallets do not have great patience, maybe if today he has a very extraordinary profit especially when bitcoin hits its latest ATH.

The DCA is correct by using the daily timeframe, and no one has failed in the DCA. IMO

The DCA did not fail the investor, the investor failed to be patient which is the main reason why you think that the method of investment which is DCA failed him.
Investing through DCA means you as an investor wanted to hold your Bitcoin for a very long period of time, but if you intend to sell at any point, you failed your investment because you will  or might sell at loss which is the exact scenario the OP explained.

[Dailyscript]

I don't like the fact that people go about ranting about their failed decisions. DCA and other strategies are a choice and if you choose DCA to be your preferred strategy then you are likely to take the responsibility at the end. If an investor has the capital to buy once then let him take it and go all in. It has already been proven that in the long term Bitcoin is only going up.

DCA 100% works, but it won't make you rich quickly the whole point of DCA is to use the money we have and slowly build up our Bitcoin investment (Bitcoin wealth).

If we presume that the buyer was buying $1million worth of bitcoin each day for a year and a half, then surely that would be DCA, even if the amounts are a lot... and it would be DCA if they were done weekly, monthly or quarterly too.

But yeah, you can mix up your terms and mix up your ideas and call it whatever you like.

Agree with you that DCA strategy can be used with many different purchase intensity and different investors will apply this strategy in their own ways. The practice will be affected by their capital source and available capital as well. Investors can not do DCA even they want if capital source is broken at some point of time in their investment.

Right here. Having the wrong meaning of DCA is trending these days. However, I want to add to what you have said. People do have the feeling that DCA requires that it is a must to buy small amounts of Bitcoin gradually. But the thing is that it works for various levels of financial strength. The rich can buy one Bitcoin every week as a DCA amount. If I earn 500k every month you can choose to DCA 62k into Bitcoin every week as his DCA amount. I don't have to invest 20$ or 30$. I can afford 10% of my 500k every week so i do it which is equivalent to almost one Bitcoin.

[Uruhara]

The owner of this address bought a million dollars worth of Bitcoin every day from August 11, 2021 to January 1, 2023.

https://bitinfocharts.com/bitcoin/address/bc1qw0pswznckx7s6tjmd2f5hrx4q6kc5nyrdxku50
Received:   17,536.2628 BTC (517 ins)   first: 2021-07-25   last: 2022-12-28
Sent:   17,536.2628 BTC (517 outs)   first: 2023-01-01   last: 2023-03-05
Profit from price change:   -239,395,601.9 USD

Approximately $460 million was spent buying Bitcoin, resulting in a loss of over $239 million. Perhaps this investor did not know that the DCA strategy is better to use for a longer period, or perhaps he found a more profitable investment.

Although this is an old thread. But this can be a lesson for anyone who invests in Bitcoin, it must be done after we are truly sure and confident about holding it for the long term. because if you are not ready then stories like this can happen again and again. But maybe there are several reasons that can also force someone to start changing plans from initially being for the long term to having to stop it and having to sell even at a loss. Like when there is an emergency situation that requires someone to immediately convert all their assets into fiat. So we also don't know what the story is behind the owner of the address above.

But for those of us who want to invest in bitcoin, only use money that is really cold and ready to lose. And so far DCA has been very successful for me. Because this is not for the short term but the long term. Currently I am in a condition of getting multiple profits but yes I still remember my long term plans. So I will keep holding it until I actually reach the target.

[Fara Chan]

The DCA did not fail the investor, the investor failed to be patient which is the main reason why you think that the method of investment which is DCA failed him.
Investing through DCA means you as an investor wanted to hold your Bitcoin for a very long period of time, but if you intend to sell at any point, you failed your investment because you will  or might sell at loss which is the exact scenario the OP explained.

DCA is a part of the strategy that is not difficult to use, but that does not mean that everyone will use it as long as there are other strategies that can be quite convenient when it comes to buying Bitcoin. Because in general the purpose of buying Bitcoin is to get more profits by holding it for a certain duration, so DCA is also not the only strategy that should be used as long as someone is not comfortable enough to use it. Although if we look at the disappointment that some investors have experienced due to a lack of patience, of course this is not influenced by strategy, but rather influenced by their own thoughts which cannot be patient when holding something like Bitcoin.

[Gaza13]

The DCA did not fail the investor, the investor failed to be patient which is the main reason why you think that the method of investment which is DCA failed him.
Investing through DCA means you as an investor wanted to hold your Bitcoin for a very long period of time, but if you intend to sell at any point, you failed your investment because you will  or might sell at loss which is the exact scenario the OP explained.

As an investor, of course this is not the main reason why DCA is disappointing. It cannot be said that DCA failed in this case. Of course, this technique is often used by investors to get the best average price for our assets. It could be that most likely in this life we will never know what will come, for example a disaster or something else, this sometimes makes our investment inevitable so that we can sell it at a profit or loss. If we no longer have any money, we save it or it runs out. In this case, it is our investment that fails, not the DCA.

[mirakal]

I can't believe some of the nonsense I read on this forum sometimes. Makes me want to murder most of you.

Failed DCA strategy? DCA doesn't fail. If it fails, it's not DCA.

How can you get something so simple like DCA wrong? Buy, all the time, any time, don't even look at price. That's impossible to fail.

It is the person who is quite obvious that there is a problem, not the strategy itself.
Some traders say they are doing copy trading from known platforms or successful traders but they still question why they lose. It is certain that it all depends on the trader who does the difficult task and we can't ensure that we all have the same emotions and decision-making which could lead to different results.

Those who claim that DCA is not effective are those people who never know what is the right approach. If they jump into this without knowledge, there is no way to expect good results but certainly, it gonna be losses and frustration.

If this works for some people, this also possibly doesn't work on others.

[AVE5]

The owner of this address bought a million dollars worth of Bitcoin every day from August 11, 2021 to January 1, 2023.

https://bitinfocharts.com/bitcoin/address/bc1qw0pswznckx7s6tjmd2f5hrx4q6kc5nyrdxku50
Received:   17,536.2628 BTC (517 ins)   first: 2021-07-25   last: 2022-12-28
Sent:   17,536.2628 BTC (517 outs)   first: 2023-01-01   last: 2023-03-05
Profit from price change:   -239,395,601.9 USD

Approximately $460 million was spent buying Bitcoin, resulting in a loss of over $239 million. Perhaps this investor did not know that the DCA strategy is better to use for a longer period, or perhaps he found a more profitable investment.

I think the DCAing is a personal investors might who is fearful or mindful not to buy sporadically at most higher rates.
Looking at that Investors purchasing chart, he seems rich enough not to panic with whatever cost of value the bitcoin price maybe.
He might basically layed on storing his values in there not prioritizing investing even though he knows the vessel is potential to produce profits.
You you ask him, then he'll say DCAs is for poor Investors. Haha 😂

[Taskford]

I can't believe some of the nonsense I read on this forum sometimes. Makes me want to murder most of you.

Failed DCA strategy? DCA doesn't fail. If it fails, it's not DCA.

How can you get something so simple like DCA wrong? Buy, all the time, any time, don't even look at price. That's impossible to fail.

It is the person who is quite obvious that there is a problem, not the strategy itself.
Some traders say they are doing copy trading from known platforms or successful traders but they still question why they lose. It is certain that it all depends on the trader who does the difficult task and we can't ensure that we all have the same emotions and decision-making which could lead to different results.

Those who claim that DCA is not effective are those people who never know what is the right approach. If they jump into this without knowledge, there is no way to expect good results but certainly, it gonna be losses and frustration.

If this works for some people, this also possibly doesn't work on others.

Its proven that the strategy is really working the problem is the person who execute it if they fully understand how to do this method. Also on how he deals with the situation since if the investor is the type of person which easily get affected with negative news then sell all they have because of fear for losing a lot of money then we can really see the real problem with that situations.

Also if they know that they are the one who cause the problem they should not blame the DCA strategy is not working. Maybe its best for them to research more and plant more knowledge into their heads so that they can execute well this strategy then possibly change their approach towards their investment.

Investors need to remember that DCA strategy will not help them to earn fast money or those what they say easy rich quick scheme these method is helpful for their accumulation and if they do this so well then everything will work according to what they like to happen  especially for their long term goals.

[Faisal2202]

Approximately $460 million was spent buying Bitcoin, resulting in a loss of over $239 million. Perhaps this investor did not know that the DCA strategy is better to use for a longer period, or perhaps he found a more profitable investment.

Investing $1 million daily and I bet he has 460 million dollars from day one, as I don't think he is one of those guys who are making 1 million daily as income from some kind of business and investing this $ 1 million daily in BTC as well. If he had $460 million from day one he should do a lump sum because the time he bought BTC was high but after that, BTC came as low as $18k. His average buying should be around $28k.

but as I can see he exited the market very soon, I wonder why would he not waited for the halving as AFAIK every 3rd or 5th person in the crypto knows that after every halving BTC make new ATH, but only this time it was exception it made ATH before halving I still think it will make new ATH after the halving as well. Maybe he needed the money for some other reasons.

[Ruttoshi]

The owner of this address bought a million dollars worth of Bitcoin every day from August 11, 2021 to January 1, 2023.

https://bitinfocharts.com/bitcoin/address/bc1qw0pswznckx7s6tjmd2f5hrx4q6kc5nyrdxku50
Received:   17,536.2628 BTC (517 ins)   first: 2021-07-25   last: 2022-12-28
Sent:   17,536.2628 BTC (517 outs)   first: 2023-01-01   last: 2023-03-05
Profit from price change:   -239,395,601.9 USD

Approximately $460 million was spent buying Bitcoin, resulting in a loss of over $239 million. Perhaps this investor did not know that the DCA strategy is better to use for a longer period, or perhaps he found a more profitable investment.

Although this is an old thread. But this can be a lesson for anyone who invests in Bitcoin, it must be done after we are truly sure and confident about holding it for the long term. because if you are not ready then stories like this can happen again and again. But maybe there are several reasons that can also force someone to start changing plans from initially being for the long term to having to stop it and having to sell even at a loss. Like when there is an emergency situation that requires someone to immediately convert all their assets into fiat. So we also don't know what the story is behind the owner of the address above.

But for those of us who want to invest in bitcoin, only use money that is really cold and ready to lose. And so far DCA has been very successful for me. Because this is not for the short term but the long term. Currently I am in a condition of getting multiple profits but yes I still remember my long term plans. So I will keep holding it until I actually reach the target.

The DCA strategy failed because he does not have an emergency funds that will be able to take care of any real emergency that occurs while he is DCAing. You cannot use all the money on you to DCA without preparing for the unforeseen circumstances ahead of us. For a long term bitcoin investment, every proper plan should be put in place to avoid selling your bitcoin at loss when it is not yet the right time.

DCA doesn't fail if it is done properly without accumulating over aggressively with it. When you are accumulating aggressively, you should not overdo it if not it will affect you negatively. I believe that was the problem he had.

[Lakai01]

[...]
DCA doesn't fail if it is done properly without accumulating over aggressively with it. When you are accumulating aggressively, you should not overdo it if not it will affect you negatively. I believe that was the problem he had.

That is the most important part of a DCA strategy, yes. You often read in the forum that people are unhappy with the results of their DCA purchases. If you then ask in more detail, it often turns out that, for example, purchases were made every day for several weeks. Even with strong swings during this period, you can't expect the strategy to pay off. DCA is primarily aimed at buying coins over a very long period of time in order to capture as many market sentiments as possible. If you rush your purchases, you might as well use a classic trading strategy and not rely on DCA. 

[Mame89]

The DCA did not fail the investor, the investor failed to be patient which is the main reason why you think that the method of investment which is DCA failed him.
Investing through DCA means you as an investor wanted to hold your Bitcoin for a very long period of time, but if you intend to sell at any point, you failed your investment because you will  or might sell at loss which is the exact scenario the OP explained.

DCA is a part of the strategy that is not difficult to use, but that does not mean that everyone will use it as long as there are other strategies that can be quite convenient when it comes to buying Bitcoin. Because in general the purpose of buying Bitcoin is to get more profits by holding it for a certain duration, so DCA is also not the only strategy that should be used as long as someone is not comfortable enough to use it. Although if we look at the disappointment that some investors have experienced due to a lack of patience, of course this is not influenced by strategy, but rather influenced by their own thoughts which cannot be patient when holding something like Bitcoin.

What I understand from your statement is that every strategy used is good, including DCA, if we implement it correctly. because in every investment strategy the most important thing is patience, especially if we have a goal or target, if the target has not been achieved we should not sell it yet. In fact, bitcoin doesn't make you lose as long as you never sell the bitcoin or in other words keep holding it.

It's just that sometimes there are obstacles that make us have to sell more quickly, so that in every important investment we have reserve funds, even though we need funds quickly, we don't need to sell our assets that are going down so that losses can be avoided. I always use the dca strategy and so far it has been very profitable even though the price of bitcoin is falling like now my portfolio has not experienced any losses.

[batang_bitcoin]

DCA doesn't fail if it is done properly without accumulating over aggressively with it. When you are accumulating aggressively, you should not overdo it if not it will affect you negatively. I believe that was the problem he had.

Everything that's overdone will result into something bad and that's why when we DCA, always make sure that you'd do it with the money that you can afford to lose. It's no different from investing actually as we always tip those words for anyone who wants to do it. But that guy who has spent hundreds of millions for his purchase of BTC has got a lot of money and more than that. Anyway, this is what means to be a literal expensive lesson to have.