I've been investing in Bitcoin for a while, and it's always the same story for me:
- Hesitant to buy the dips, thinking the price will fall further
- Hesitant to buy near ATHs, thinking I'm buying the top
Eventually I realized I should just ignore the ticker and stick to a simple DCA strategy. But the truth is: discipline is hard.
I don’t think I’m alone. I saw research from Kraken showing that while 60% of investors say they DCA, only 8% actually stick to it consistently.
So I’d love your opinion on an idea I’m trying to validate:
An app that uses streaks, badges, and reminders (like a Duolingo for investing) to help everyday people stay consistent with their weekly or monthly Bitcoin DCA.
Do you think something like this would help people stay disciplined?
Or would most folks fall off anyway?
I wish there was a Duolingo-style app that kept me consistent with BTC investing… would anyone use this?
byu/GeorgesDoriot inBitcoinBeginners
Posted by GeorgesDoriot
1 Comment
If you DCA , than using something like strike.me that auto DCA invests is best. Why would you need a separate app when its all automated ? I suppose you are thinking about simulating some other positive reinforcement to continue investing ? A virtual badge won’t really help much IMHO over real value being gained or lost. Most of this nervousness goes away with 3 things primarily :
1) People already surviving one bear market cycle where they have much more confidence
2) People understanding Bitcoin better and that its here for the longterm and very likely to continue to appreciate in value.
3) People having a fiat emergency fund so they never feel pressured to sell BTC during dips or bear markets
Another suggestion would be an app that helps people create a budget and cut expenses so they have more to invest in Bitcoin IMHO