Hey everyone,
As the title says, I got into bitcoin originally in 2020, and used FTX to buy/hold. Come the collapse, I lost all I had. Wasn't that much but still an amount that I was proud of. After that I got into a negative head space with crypto as a whole and kinda forgot about it all until recently.
I'll be the first to admit, I was in the space before because of hype, and the prospect of buying low and selling high. That was until the dip to 100k in early November. I saw the news on my feed and I got back into researching bitcoin and I can now proudly say that I fully believe in the technology and actual purpose now.
A few things have changed since 2020, I graduated, got an entry job in my field of study, and make roughly 65k CAD/year before tax. I want to accumulate bitcoin, not to sell, but to hold as I truly believe in the long term angle. Given my salary, How should I set up my buying?
I just recently got a $100/week DCA that goes every Monday, and I manually buy larger amounts (200-500) on bigger dips. I do have roughly 7-8k saved up that I want to put into the market, but what's the best way to do that? Should I deploy it all at once and pray? Or mybe up my DCA to 200-300/week and slowly eat away at it?
(I live alone, pay $1100 for rent and utilities, and have little expenses otherwise besides basic food, insurance, gas, etc)
Thanks in advance :)
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