"Dollar averaging" is not a rational thing to do, it is only a psychological pacifier, right?
If one bought 100 coins at 800$, buying 100 more at 400$ does not compensate or alleviate the loss of the first buy. It only mixes a vexing mistake with a minor mistake to make a double dose of a medium-strength mistake. The loss from the first buy is still there. Right?
If one bought 100 coins at 800$, buying 100 more at 400$ does not compensate or alleviate the loss of the first buy. It only mixes a vexing mistake with a minor mistake to make a double dose of a medium-strength mistake. The loss from the first buy is still there. Right?
AFAIK it's a common strategy for long-term investors. By spreading out your buys you reduce your risk of buying at a local high but also reduce your chances to buy in on the cheap.
i call it 'buying all the way down' when converting usd into accumulating something else like bitcoin.