Back to 2021, that was when I entered the market at the peak of the bull run, dreaming like every newbie of Bitcoin hitting 100k USD, and then reality hit me hard.
It plummeted all the way down to 50k, 40k, 30k, 20k, even starting with 10k. Though I was dollar-cost averaging, the market was in sheer panic, and with my startup funds being tossed around, I even got hacked once during that time.
In the end, I got wrecked around the 30k price point of Bitcoin; it was brutal.
Dollar-cost averaging seems simple, but it's actually the toughest strategy. It's not just about the action itself, but also the strength and factors you have behind that action.
For instance: Do you have cash flow? Will you dip into that money? Are you really prepared to hold it for over 10 years? Are you ready to take losses?
Dollar-cost averaging involves not just putting in funds, but also your understanding and foundation.
Now, facing prices similar to 2021, what I feel more is excitement and the joy of opportunities re-emerging.
The lessons and experiences history have taught me are: 1. If you buy, keep buying, ride the smile curve. 2. Only invest what you can afford to lose, wait it out, and hold long-term. 3. In the crypto space, use crypto profits to accumulate more coins. (What you take from crypto, use it to buy Bitcoin)
Currently, that's how I'm practicing it; the prices are still the same, but I'm no longer that naive rookie, after all, it's been 5 years.
A seasoned contract trader with 1390 days under their belt is still rolling in, adding to their long position with $H . Margin is about to break through $40k!