I agree with you. In fact, before taking any risk, we should always think long-term. Especially, we should invest in anything depending on how much risk we can tolerate. And if the investment is in Bitcoin, then it is better to invest with as little risk as possible. And before investing, we should not only think about whether there will be a profit, but also think about whether there may be a loss. We should focus on how to manage it after a loss.
If one invests for long term, then the risk will be reduced a lot. Moreover, those who can invest must be risk tolerant. And for those interested in investing in Bitcoin, they are never at risk. I think not doing so will cause harm if the objective is long-term. Investing in Bitcoins requires only mental fortitude. DCA should be used if there is ever a loss effect on the money due to a fall in the price of Bitcoin. This will reduce 90% risk.
Yes, investing in BTC requires strong mental resilience because it's a highly volatile asset where prices can rise or fall by several percent in a short period of time. When you have mental resilience you won't invest with your daily needs or emergency funds. Therefore, when you use a DCA strategy regardless of price, you can reduce the stress of trying to predict price peaks and bottoms.
With mental resilience you'll invest in Bitcoin for the long term especially since Bitcoin is currently a store of value especially against inflation. Having long term goals will help you ignore short-term fluctuations. In essence, I want to say that mental resilience is one of the key factors that differentiates successful investors from speculators who get caught up in emotions.
