In a recent tweet, the analyst known by the pseudonym Wicked asserts that DCA is a successful strategy for BTC hodlers, regardless of the period at which they started investing. Wicked shared with their followers a chart on which the average weighted purchase price of Bitcoin was $31,233 as of July 3, 2023. This marks the highest level of the cryptocurrency since June 2022. The analyst states, "When the entire orange line goes below the dotted white line, that's when ALL investors who chose daily Dollar Cost Averaging (DCA) start making profits." For new comers here: Dollar Cost Averaging (DCA) actually involves buying small amounts of digital assets at regular intervals, regardless of their costs. It protects investors from market volatility and maximizes their chances of obtaining an attractive purchase price. TL;DR: According to analyst Wicked, DCA is the best investment strategy for holders of BTC. [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments