Do NOT Dollar Cost Average Into Fucking Altcoins
altcoins are not your friends in crypto

Do NOT Dollar Cost Average Into Fucking Altcoins

By AlucardLife | cryptoinvesting | 21 Jun 2021


I can't stand when people blindly follow stupid quotes in trading without even knowing where they came from or what they mean. Fuckin everyone misquotes Warren Buffett thinking that you can blindly make money in the market by using "value investing" and "dollar cost averaging."

Don't be a moron. If you want to be a part of the Crypto Twitter or Crypto Telegram crybabies who lose their life savings, go in blind. There is no strategy worse than dollar cost averaging into altcoins, especially if you are looking for crypto to save your financial life in the next month.

First of all, realize the market doesn't owe you anything and doesn't coincide with your schedule. If you made a bunch of money early 2021 and now you're throwing that money into altcoins waiting for BTC to retest all time highs, do yourself a favor. Pull out of the market, go into stables, and go study trading before you completely fuck yourself.

Why doesn't dollar cost averaging work in altcoins?

Like it or not, we are in a bear market. I don't care what your favorite Youtube shiller said. Until bitcoin hits $52k, it has the potential to dump down to $20k or even lower. If that happens, altcoins are going to get destroyed.

You might say, "But alts are still 50% off of their all time highs! There's no way they could go down any more than that!" 

Wrong, bitch. They absolutely can, and they will if we get a BTC dump. Just because you already had a 50% dump doesn't mean you can't have another one. You can split losses up indefinitely — from $100 to $0.01 is a 99% loss, and from $1 to $0.01 is also a 99% loss.

Your altcoin can go down more. Which is why dollar cost averaging into alts is stupid at this point.

But I might miss the move up!

If the market starts trending again, especially a bullish trend, you'll have plenty of time to get in and make money. Not all alts go up at the same time — money moves from sector to sector and takes a while to get there. There's a reason why crypto got so popular in the early part of 2021 — you could put your money anywhere for like 6 months and make money. You didn't have to get in on day 1.

Just saying. This is a warning for those who think this game is sweet or some shit. BTC could hit $20k before it hits $100k. El Salvador, Michael Saylor's new $100MM buy, the Bitcoin Miami convention, and other positive news wasn't enough to even break $40k. That being said, people respond to stupid news. The fact the market pumped and dumped on Elon Musk announcements makes less than no sense. But that's how idiots trade.

So if DCAing into alts isn't good, what is?

Decide on your path. If you really like an alt and you believe it's going to change the world (it probably won't), just get in. Doesn't matter when. Hold until the project is complete and its community is fully rendered. Guaranteed you'll be at multiples of wherever you bought in terms of fiat, but you have to promise yourself not to look at the fiat value in the meantime.

If you want to be a trader but you have no experience or data, then wait for the bull market. Everyone's a genius in the bull market, and you can pretend you know how to trade when everything is going up. But you have to wait. It's easy to tell. The air will be electric. CNBC will be talking about bitcoin and defi and whatever else is hot that week. You'll hear celebrities yapping about NFTs or whatever.

Most importantly, your stupid ass won't be able to lose money. If you have less than 5 years' trading experience and you're making money in crypto pushing random buttons on websites, we're in a bull market.

I still think it's ok to DCA into bitcoin, ether and possibly theta. Maybe Dash if you're in Venezuela and Cardano if you're in Ethiopia.

———

AlucardCrypto Telegram JoinUp Link ---> https://t.me/alucard0x
Once we hit 10K followers on Publish0x, we're doing exclusive AMAs. I believe that's a first here, so let's do it!


YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> 
Making Money in Crypto Part 1
Why you should buy your Tesla (and everything else) in BTC ---> Why You Should Buy Tesla With Bitcoin
Find out why Chainlink 2.0 is a problem for your freedom ---> Why Chainlink Will Kill Crypto
Why Hexicans/Pulsechain Fags are Pieces of Fucking Shit ---> The Problem with the Hex and Pulsechain Community

How do you rate this article?


104

19

AlucardLife
AlucardLife

The next level.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.