And so is tomorrow. And the day after. And 2,761 days from now.
If you’re new to Bitcoin it’s very easy to fall into the trap of chasing gains. You’ll find endless subreddits and YouTube channels promising to teach you how to buy the dip and 100x your gains.
It’s fool’s gold.
Don’t head out into the desert looking for an oasis when you could dig down, each day, and build the oasis around you.
The right time to buy Bitcoin is anytime within the next 5 to 10 years.
Because Dollar Cost Averaging (DCA) is the easiest way to live your investment life without placing undue financial stress on your shoulders, while still buying Bitcoin. Not everyone can (and certainly not everyone should) mortgage the house or withdraw their life savings and convert to Bitcoin.
This might work in the long run, but it’s more likely to cripple your life in the immediate future. Instead, set aside a small amount on a regular basis, and buy Bitcoin – no matter the price. You can even automate this so it comes from your pay without you doing a thing.
You’ll become accustomed to watching $20, or $100 or whatever figure you set, which is going to buy BTC. Instead of buying a lump sum all at once, your money is being used to incrementally add to your Bitcoin portfolio.
This approach means no more trying to “time” the market and catch swings before they happen. Let’s face it, you don’t have the time or the skills to do that – and that’s OK. You’ll also remove the emotional element of investing which will save you a whole heap of stress and uncertainty.
Using this strategy, you don’t need to worry about the dips. If we look back at Bitcoin’s 10+ year run, price rallies have typically preceded price drops. But the subsequent floor price is higher than it was before the rally. Knowing this means you can safely buy Bitcoin whether it’s $20,000, $40,000 or $60,000.
In the long run, your incremental investments will still be benefiting from Bitcoin’s rise, which offsets any losses in value along the way.
So for the love of all crypto, don’t focus on bear or bull markets, don’t try to “time” the market, and don’t think you can outsmart the rest of the crypto community.
For most investors, a Dollar Cost Average is the best way to invest in Bitcoin, which means it’s ALWAYS the right time to buy.