Why it’s better to DCA and avoid Crypto youtubers for the long run
2 min read
I’ve always been buying crypto when the prices fall because I know it’s a better strategy for me since I’m in it for the long run. I don’t panic or sell when the price goes down because, having been in crypto since 2017, I know it’s inevitably going to bounce back up…at some point. I know I’m not an expert when it comes to crypto.
About two months ago, I got into discussions with crypto influencer Ben Cowen’s followers on twitter; I kept advocating for buying bitcoin/crypto when the prices were falling, and they, following his analysis and advice, were holding cash on the side, waiting for it to hit new lower prices. Now about 2 months later, bitcoin has risen sharply with the alts following, and a number of them in his comment section are in disbelief because they missed buying at a lower price. Now, prices may plunge down; however, if you’re in it for the long term, you shouldn’t be worried.
What we could learn from this is that the crypto markets are highly unpredictable. Trying to time a specific price point could work, or it could get you rekkt. Relying on crypto influencers’ analysis and predictions could put you in a bad spot with a lot of regret. You can see how a couple of them(Ben’s followers) are expressing regret below:
submitted by /u/wee_d
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