My purchase method is DCA method and one-time investment. I have estimated that my average purchase price may be 80k-90k dollars. If I buy 0.5 Bitcoin, then I need 40000 dollars. If I buy 30 dollars every week, 40000÷30= 1,333.333 weeks will be needed. 1,333.333÷52=25.641 years. It will take about 26 years to achieve my goal, but I will not take so much time. I will try to achieve my goal as soon as possible. Because sometimes I get money from my businesses. I will invest more at that time and try to achieve my portfolio target quickly.
Bitcoin market is very unpredictable, if the average purchase price you have calculated is not as per your expectation then you may get disappointed so it would be better for you to continue buying continuously without having such expectations on the market. If the price of Bitcoin reaches the highest price again then it will take a lot more time for your portfolio so do not plan this and continue buying continuously until you reach the goal of building your portfolio. I do not know if you have started buying yet but if you have not started buying then it would be better not to worry about your average purchase price.
If you focus more on market you will easily get discouraged. Just play your part by accumulating and holding despite the market conditions, all that matter is that you are building something that will turn out profitable in long run , though it is not guarantee but historical data has proven that bitcoin tend to go up as time goes despite all the up and down movement .
The really I kept saying there’s no guarantee is because we can’t actually tell the future, the only thing that doesn’t change is changes . So there will always be changes as time goes, either positive or negative changes .
As an investor you’re not meant to focus on the market, instead you should focus more on buying and holding bitcoin, and having a discretionary income as well, I have seen a scenario where people who have difficulties finding their way and feet in buying and holding bitcoin, most times it’s been a very terrible situation and experience, because they will have to panic because of their money involved, but if you’re and old investor it would be better to know that you have to keep buying and accumulating bitcoin on a consistent basis and a regular basis.
You should also focus on the market price situation while investing in Bitcoin. Don't let Bitcoin accumulating become a boring affair as the market will go up and down and discretionary income is required to stay afloat with every price trend. It is also important to have a income stream and a proper implementation process of discretionary income fund in order to invest in Bitcoin. You will find it problematic to do DCA regularly if your income is not consistent or you do not have emergency funds available.
Emergency funds are of utmost importance to maintain the necessary cash flow and security of Bitcoin holdings to maintain long term dominance in investing. The sudden need for invested capital is responsible for creating panic in investing. From that point on, you need an emergency fund and cash flow to keep yourself in a safe investment position.
Why focusing on the market before buying bitcoin when you are buying with with the DCA strategy, bitcoin is volatile and this is what you should know using the DCA strategy you don't have to worry about the volatility of bitcoin since you are either buying every weeks or months, it's also necessary that you should many income streams or several sources of income before you can start buying bitcoin as a low income earners you can still buy bitcoin as long as you have figured out your discretionary income you can buy bitcoin. Having an emergency fund is good but you can still buy bitcoin if you don't have an emergency at that time then plan getting it ahead as you are buying bitcoin.
