Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. Currently, if you check the price of Bitcoin, you will see that there is no significant difference in the price of Bitcoin, but if you look at the Altcoins, you will see that each Altcoin has dropped much more than it did in September and October. If we do not take advantage of this opportunity, then when the Altcoin season begins, we will miss the coins that gave the big pump.
If you check the market capital of meme coin today, you can see that the market capital of meme coin has dropped by 26.31% in the last 30 days and in terms of amount, you can see that it has gone from $116 billion to $67 billion. This means that in just 30 days, about $50 billion has been removed from the market capital of meme coin. So the reason behind showing this is that in the current market situation, almost all coins are available at very low prices. But if you invest in any weak coin in this market, then when the Altcoin season starts or when the bullrun comes, these coins may not go back to their previous price. However, if you can invest in good coins, then no matter how down those coins are currently, as soon as the market recovers, all those coins will touch their all-time high again in just 1 to 2 weeks. For this reason, it is more important than buying a particular coin to know which coin you buy because since you have dollars in your hand, you can buy any coin you want, but whether those few will touch their all-time highs at all depends on the potential of that coin.
When you buy any coin, you must use the DCA method and using the DCA method does not mean that you buy a coin and then buy it again after the price drops by 1 to 2 percent. If you do DCA like this, no matter how much fund you have, you will not be able to handle it. The way you do DCA, you will not have a problem, when you buy a coin and then if the coin drops by 10 to 20 percent, you will buy that coin again and even if it drops another 10 to 15% from here, you will buy it again. If you do DCA well, you will always have funds, but if you do DCA in the wrong way, your funds will run out. For this reason, it is more important to keep these things in mind. You cannot make a profit by trading only if you have dollars, you have to analyze things well. Then you have to average your funds well. Only then you will be able to make a good profit from each coin.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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Upvoted! Thank you for supporting witness @jswit.
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Yes, if you are honest and do the DCA well, there will always be funds.
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DCA is the only hope for newcomers
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