I believe we are in amazing times for accumulating BTC, provided you have a long enough time frame. I'm thinking 5-10 years at least. Dollar cost averaging has been far more successful for me than any type of trading, and it takes far less of my bandwidth and time.
My strategy has been really simple: when price is within the yellow box, I purchase 5$/day. When price is within the green box, I purchase 10$/day. And when price is below the green box, I load up with what I can afford! Additionally, I've been placing limit buy orders at low levels, and doing 15-20$/day.
These numbers are what I can comfortably afford, and more importantly, what I can afford to loose.
I don't get concerned with price fluctuations, as long as price is within my colored zones for buying. Whats more important to me is making the effort to buy a little bit each day. Sometimes life gets in the way (family, career, hobbies, jiu jitsu, etc), and I don't make the time each and every day. But the vast majority of days I can make the time.
I've been so excited lately with the price of Bitcoin! It could drop even more (and probably will) and I'll be even more excited because I'll dollar cost average my price down even more! HODL my friends!
My strategy has been really simple: when price is within the yellow box, I purchase 5$/day. When price is within the green box, I purchase 10$/day. And when price is below the green box, I load up with what I can afford! Additionally, I've been placing limit buy orders at low levels, and doing 15-20$/day.
These numbers are what I can comfortably afford, and more importantly, what I can afford to loose.
I don't get concerned with price fluctuations, as long as price is within my colored zones for buying. Whats more important to me is making the effort to buy a little bit each day. Sometimes life gets in the way (family, career, hobbies, jiu jitsu, etc), and I don't make the time each and every day. But the vast majority of days I can make the time.
I've been so excited lately with the price of Bitcoin! It could drop even more (and probably will) and I'll be even more excited because I'll dollar cost average my price down even more! HODL my friends!