Dollar cost average (also known as DCA) in on cryptos is often heard when investing for the long run (years of holding) and I believe that it is a good strategy to use. Cryptocurrencies are volatile so you can use this to your advantage by using this strategy.
When I started investing in cryptocurrencies (altcoins) I did not understand the market yet and I thought we were just gonna rise and rise. Easy money and just put them in some altcoins that seem interesting and have some sort of a use-case. When I actually saw the gains come in quickly I decided to invest more money and started to pick other altcoins (FOMO boy) and some of them I had no idea what they were trying to solve or do. Before I knew it I invested in 20 different altcoins (too much in my opinion now) and every time I put a small amount per altcoin. The bear market came in soon after (I did not know that this was happening, I thought we were just correcting a little bit before going to the moon again) and all of my holdings went down rapidly.
After learning a lot on Youtube channel Texas West Capital and some other ones, I realized that Bitcoin was the coin to go to. I found Bitcoin expensive and did not see reason into why I should buy in 0,01 or 0,1 BTC. Now I do understand it and since then I am dollar cost averaging in on BTC and some of the alts I still believe in (I still believe in Cardano, NEO, Ethereum and Vechain). Most of my alts I will no longer put any dollar in and I already accept my losses (it might still come back to where I bought in, but I doubt it). Examples of these are ETHlend, DigiByte, Quantstamp and Qlink. There are some exceptions for my portfolio, because I believe that some altcoins, that I did not invest in before, are worthy investing in (BNB, Chainlink, ENJ and ETC).
For BTC I am already doing the dollar cost averaging for about two years now. This means that you have time to do so and that patience is an important part ! Put something in BTC every month or every week, even if it moves to the upside. It is harder to put in when it moves up, but if you look at the longer picture (2022/2025), is it really that bad to go in when it is at 8500 $ or at 9000 $ when your goal is for example to see BTC at 50000 or 100000 ? Do you want to take a risk and wait for 6000 $ or lower, without knowing if it will ever hit again ? Is it that much of a difference between 6000 $ and 8500 $ for a long term investment ? Try to reason with yourself and you will see that it is not a bad idea at all to buy in small amounts at 8500 $ or even at 9000 $ since you do the dollar cost average in method. If it moves down to under 8000 $ you go in again with a small amount, etc.
With altcoins you can do the same thing. I have been able to lower my average buy-in a lot on Cardano and NEO and these look very interesting for me now in the long run in terms of my investing in them. I can be wrong of course, but I believe that a good amount of altcoins have showed their bottom already and that they are showing signs of double bottoming patterns and if you look at the weekly charts for quite some altcoins compared to the dollar, with an indicator like OBV (On balance Volume, where is the smart money going), you see that accumulating has been going on in these coins. This means for the long run smart money is investing in them and they believe that another big run will happen. Patience once again is key, because this can still take months or even a year before it may start, but it might be interesting to start investing slowly in altcoins again. Do not look at the exact bottom to buy-in, just dollar cost average in and HODL !
This is not financial advise and I am not a financial advisor so please do your own research and take your time !