With the many fluctuations and workings of the cryptocurrency market, investors must identify and opt for an effective strategy in order to give themselves every chance of making profits. From staking to single amount through Dollar Cost Averaging or DCA, the options are multiple for traders. For some analysts, more than a strategy, the DCA is the best ally of bitcoin (BTC) hodlers. It is, according to them, a method that allows bitcoin holders to secure profits in the cryptocurrency market.
A profitable strategy according to analyst Wicked
DCA or single amount: which strategy to choose? If this question can constitute a difficult dilemma for certain investors, analysts do not hesitate to decide in favor of the first strategy. In a recent tweet, the analyst known as Wicked claims that Dollar Cost Averaging is a successful strategy for bitcoin hodlers, despite when they first started investing.
Wicked shared with his followers, a chart where the weighted average buy price of bitcoin was $31,233 as of July 3, 2023. This is the highest level for the cryptocurrency since June 2022. analyst says: “When the entire orange line crosses below the dotted white line, that’s when ALL investors who entered the DCA on a daily basis make a profit.”
A review shared by SaifeDean Ammous
The economist and author of best-selling “The Bitcoin Standard” agrees with analyst Wicked and claims that DCA is a profitable strategy for bitcoiners. He declares via a recent tweet : “Regular stacking pays off for everyone, even when bitcoin is down 55% from its peak. An amazing testament to the power of bitcoin as a life-saving technology.”
Considered a successful strategy by these analysts, DCA actually consists of buying, at regular intervals, small amounts of digital assets, regardless of their costs. It protects investors from market volatility and maximizes their chances of securing an attractive purchase price.
According to analyst Wicked and Saife Dean Ammous, DCA is therefore the best investment strategy for holders of the flagship cryptocurrency. Bitcoin hodlers are now warned.
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