[Edit: this is not Dollar cost average. I used the term loosely as slang as my method end up with small weekly buying of Bitcoin]
My rules:
Each week I check the balance.
Whatever the dollar high for my account is that week I add that much to bring it back to that.
E.g. Bitcoin lost 10% that week, i add in 10%
Bitcoin gained 10% that week, I put aside some cash in normal savings to buy the next dip.
Recap: Never sell bitcoin. Only buy, to top up the dollar value to its highest level. Obviously if there is a sudden 80% drop and I've got a lot in bitcoin that's going to be an issue. But generally it provides a fun game.
[Edit] Short worked examples: you buy $200 this week (and your first time) That's your float. You have $200 worth of Bitcoin.
Next week you check ... Bitcoin up... Stick $20 under a mattress. Nice one.
Next week check... Bitcoin down... The highest point that your account reached that week was $220! But it's now $190... So you add $30 this week to make it $220 again.
Repeat.
Always topping it up to its highest weekly dollar value each week.
[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