While the broad crypto market is trading slightly higher heading into the weekend, there is still little change in Bitcoin. On a day-to-day basis, bitcoin is holding up and trading within a small trading range. This allows BTC to hold just over $16,500. Only time will tell if the current price level is already the lowest this year and a great opportunity to accumulate BTC. Finding the perfect time to enter and complete the bottom carries significant risk. Uncertainty here remains predetermined. Crypto trader @rovercrc now sees this the same way and recommends a different strategy with which to enter the Bitcoin market.
The crypto trader relies on this strategy: Dollar Cost A Average (DCA)
The terms “Bitcoin Boden” or “Bitcoin Bottom” are currently arousing great interest on social media. Again and again one reads about a supposedly completed background training, only to experience another sale soon after. Crypto influencer Crypto Rover, with nearly 400,000 followers, is apparently taking this as an opportunity to call finding Bitcoin’s exact bottom a mistake. On the contrary, he also believes in Bitcoin for the long term, but has a better strategy to enter the market now.
We are talking about DCA – dollar average buy. This is called the average cost effect, which allows a staggered entry into a property over several weeks or months with a constant level of investment. Every month (day, week or year as you wish) you now pay the same amount for Bitcoin – whether the price has gone up or not. Thus, one takes advantage of a falling Bitcoin price in such a way that larger shards can then be accumulated.
Similarly, El Salvador is a popular example. Because the first state to adopt bitcoin will now buy one bitcoin every day – also according to the DCA strategy.
Invest in Bitcoin profitably in the long term with low risk
The average cost effect is not a silver bullet. Nevertheless, this is particularly effective for volatile assets, such as Bitcoin. This makes it possible to limit potential losses and in particular to modify the risk side. Because Bitcoin is currently badly affected, confidence was shaken after the FTX crash, although nothing has really changed in the concept of Bitcoin. On the contrary, as a decentralized network, bitcoin intentionally remains exactly the type of cryptocurrency that disasters like FTX wanted to prevent. Security-oriented investors can rely on the DCA strategy with a clear conscience when buying volatile assets.
Bitcoin Price Prediction: Will BTC Continue Rising or Falling?
Over the past 24 hours, the Bitcoin price has traded between $16,400 and $16,657. With that, the trading range remained narrow around $16,500. After a dip to a 7-day low at $15,665, which also marks Bitcoin’s low for the current trading year, there has been a slight recovery. In terms of charts, Bitcoin price continues to operate at a significant support level on the weekly chart, which shows the long-term trend. Support should hold here otherwise Bitcoin price may initially continue lower to $11,500. If, on the other hand, the price of Bitcoin regains the price level around $19,000, the sentiment is likely to change. Until then, the Bitcoin chart will remain fragile – a decision on the price action is still pending.
Bitcoin alternatives: Another step in an exciting NFT game – only 33% of the coins are still available
If you currently don’t trust the price of Bitcoin and prefer to wait a bit, you may want to consider a new presale token. Due to changes to the Calvaria Presale (RIA), the presale will end soon. Meanwhile, Calvaria (RIA) reached nearly $2 million, leaving only 33% of the tokens available. It won’t be long before the prices surge from $0.025 to $0.0325. Now, if you buy for $0.025, you can make 30% accounting profit in presale.
At the same time, there are other aspects that make Calvaria: Duels of Eternity an exciting NFT collectible card game and the native RIA token a potential 10x coin. Because on the one hand, you could gain the support of Kucoin and Gate.io – two major exchanges. The whole concept aims to enter the mass market, so that conventional players are allowed to participate for free, which is rather atypical for P2E games.
Here in Calvaria (RIA)