That’s what I keep hearing from friends in online chat groups, twitter, etc.
Everyone is looking to buy… something. Anything, really.
“DCA!!!” Is the new mantra (dollar cost averaging for those not up on their acronyms) for degens that are now pretending to be long-term investors.
It will work out for some but not most.
The vast majority will run out of money to DCA with long before we reach the bottom. Then they’ll grow so bored of sideways price action they’ll figure either the markets are never coming back or they’ll have what they deem to be a better use for the money and sell.
I don’t know where the bottom is. It’s not a price target. It’s not a date on the calendar. I’m giving some thought to when a bottom might form but I’d rather wait for the market to tell me.
The first thing that needs to happen is asset prices to stop falling. We’re not there yet.
And of course, there will be bounces.