Strategy To Buy BTC At Lowest Possible Price?
Let’s say I wanted to buy a lot of bitcoin where the entry point really matters, say $100k. The price is now at $77K. Opinions are widely split about whether it’s going into the 60s or below, or off to the races. Assuming I trust that it will eventually rise above the current price. I could buy $100k now, then if it dips to $65k I buy another $100k. Then if it dips to $55k, another 100k. Or something like that.
In that scenario I’d have $300k invested. Then when price action rises to $80k+, dump the $200k that I over invested, leaving me with the intended $100k from the lowest entry.
Can anyone comment on the pros and cons of doing this? Please EXCLUDE the scenario where BTC—>0 or doesn’t return to the current levels.
Which price levels would you choose for this staggered buy?
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