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The Ultimate BTC DCA Guide - Early Access (Patreon)

Published:
2021-02-02 19:59:30
Imported:
2022-03

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Comments

Anonymous

You read my mind Sir!

Anonymous

Speaking of timing - is the 'Chinese New Year' still a factor in this down cost averaging strategy?

Anonymous

Can you please elaborate on "Be ready to pounce if we blast through 40K again?"

InvestAnswers
>>52770004

could be - but upward pressure may exceed downward pressure. If it does happen it gives you the chance to buy more. That is actually part of my video today :-)

InvestAnswers
>>52770087

Hey Vic, There is no telling what will happen in the future I don't have a crystal ball but I do know there's going to come a time where supply will be very very scant and that could bring about crazy price discovery mode so it would not surprise me if bitcoin went from $40,000-$60,000 in a couple of days. Again This is not investment vice but merely a hypothetical scenario that I have seen happen before

InvestAnswers

Bitcoin is up $2500 today which Illustrates the speed at which this asset class can fly

Anonymous

Can you elaborate on the 5% rule?

Anonymous

What is DCA Strategy ?

Anonymous

Thanks Dominic

InvestAnswers
>>52770782

5% is the prudent amount of bitcoin to keep in an investment portfolio. Price volatility notwithstanding, virtual currency is here to stay. Allocating 5% of a portfolio toward bitcoin could give exposure to this asset class without damaging finances, in the event a black swan event happens that wipes the class away.

Anonymous

"Be ready to pounce if we blast through 40K again?" Is this be ready to buy more, or realize some gains?

Anonymous

Just saw on twitter via his WSB AMA, Mark Cuban hodls "AAVE and Sushi, along with Eth, BTC and LTC"... The big league players are getting onboard!

Anonymous
>>52774692

Link https://twitter.com/Bloqport/status/1356700974455357440?s=20

Anonymous

Five best words about Bitcoin; "I wish I had more"

Anonymous

So if you own 1 btc you own more than 99 percent.

InvestAnswers
>>52773547

What I mean by this is sometimes when a crypto asset blows through an all-time high it can really well and truly blast off. I am watching Ethereum do it right now as we speak. Such an exciting time. Some refer to this as price discovery mode

InvestAnswers
>>52778950

0.24 BTC puts you in the top 1%. Per my modeling, there are far less than 500,000 people on earth that on whole bitcoin or more.

Anonymous

Thanks,that’s reassuring. I’ve been holding just one for awhile and sometimes I fomo into wanting to buy more. I own several alt coins and sometimes feel like I should sale those and just stick with btc and ETH. So confusing and overwhelming.

InvestAnswers
>>52784244

Medium to long term ETH and BTC are the safe bets, the others will show some crazy gains..... but also will come along with some crazy crashes.

Anonymous

Love the structured DCA guide. Is Coinbase the preferred platform for BTC ownership with regards to fees / ease of trading?

InvestAnswers
>>52798670

CB has its scalability issues - Kraken, Gemini are also good. I have had no issues with CoinBase Pro. I also use 4 other platforms.

Anonymous

Do you think ETH will cool off so we can buy the dip or is it in price discovery mode and we won’t see ETH at these prices again?

InvestAnswers
>>52820268

Goog Q @Tim. I am not sure, this week has so much bullish sentiment but the way things look we may see $2000 before $1200. Then again, be careful. One thing I know about Crypto - there is always a dip.

Anonymous

I agree. Been in Crypto for 4 yrs, and waiting on the sidelines to deploy more capital for a swing trade on ETH, ADA, LINK &amp; DOT but they have all about taken a run so trying to maintain my patience while waiting for the dip.

Anonymous

Patience is hard. I split the baby. I have a ladder of limit orders leading up to where I hope to buy with the number of BTC (fractional of course) increasing as you get better and better prices. ATM I have BTC buys every $500 from 34012 down to 27512 and one hanging out at 36406. As prices move higher I move the bottom rung to the top and vice versa as we go down. Then, at least once a week I hold my nose and buy a little at the current price if I have not gotten any fills. That way I get a little along the way if we keep going up and much more if/when we see better prices.

Anonymous

What a great strategy! Thx for sharing :)

Anonymous

Not sure if Cuban's quote " I have my share of shitcoins" has been shared above. He publicized his wallet address, and then said as much. Just for perspective, and everyone doesnt blindly jump into anything they see Mr Broadcast.com has in his crypto portfolio, without doing your own due diligence. I think he also said, he sees Bitcoin, and perhaps Ethereum as safer investments, and the rest is wild west. Thats why "HODL" means, "Hold On For Dear Life" Yee-Ha!

Anonymous

What do you mean by be ready to pounce once at 40k? We’re already there :) so I’m curious what strategy from here.

InvestAnswers
>>53071572

I wrote that five days ago. Sometimes when bitcoin goes through a big level it can move into price discovery mode which means it can shoot up fast to new levels in the flash of an eye.

Anonymous

This was still valid till recent crazy enough.