6 reasons why you should buy Bitcoin right now (at USD 50K-53K) - page 4.

SquallLeonhart

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Quote from: tvplus006 on April 28, 2021, 05:45:21 AM

it is foolish to expect that the price may fall to its minimum values for the past 3 years during the correction.

Yeah, I have seen such people and their speculations during the recent correction phase. These people are not at all realistic with respect to the current trend of bitcoin markets but they are simply speculating what something staking in their mind. Completely out of scenario.

Quote from: sujonali1819 on April 27, 2021, 09:36:44 AM

Bitcoin fee is really very important if you want invest in bitcoin? I don't understand actually what did you mean by that.

Probably they might be referring the cost they need to bear when they are moving after some time of holding to sell into exchange. But, I will not agree that transaction fees of bitcoin is a criteria for investing with it.

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Quote from: death69 on April 26, 2021, 09:22:05 AM

...Even though bitcoin can surpass its peak and create another ATH, always remember that what goes up must come down. Bitcoin cant go up forever.

Of course, every growth should be accompanied by corrections, one of which we have recently seen. But we must take into account the fact that the higher the new ATH, the higher will be the minimum value of BTC, which can be achieved as a result of the correction. And it is foolish to expect that the price may fall to its minimum values for the past 3 years during the correction.

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Quote from: sujonali1819 on April 27, 2021, 09:36:44 AM

Well described in the OP. Personally I believe everything bellow 50k is good for investment. Though I have not much money at this moment to invest in bitcoin.

Quote from: davis196 on April 27, 2021, 06:54:39 AM

I wouldn't buy BTC right now,because the transaction fees are still high.I would probably wait until the mining difficulty gets adjusted and fees are back to normal.

Bitcoin fee is really very important if you want invest in bitcoin? I don't understand actually what did you mean by that. But yeah this bitcoin high tnx fee makes bitcoin not usable in real life.

Hi, Thank you for your kind words. Regarding your query, on how the transaction fee affects the price of Bitcoin, this is a common phenomenon in the currency/stock/commodity markets. The underlying principle in this concept is that if an asset is illiquid, i.e. not convertible to cash, such assets become least attractive. An increase in transaction fee makes Bitcoin 'less liquid' or eats up the value whenever it is being converted to cash. While there would be many who are hodling and betting long term on bitcoin, the crypto market is dictated by prices quoted by traders. Hence, decrease in liquidity of Bitcoin has cause the traders to find bitcoin as an unattractive investment.

Hope this clarifies. But needless to say, the transaction fee in itself does not cause a crash in price. It is always a number of reasons that come into play together to cause a decrease in price.

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Well described in the OP. Personally I believe everything bellow 50k is good for investment. Though I have not much money at this moment to invest in bitcoin.

Quote from: davis196 on April 27, 2021, 06:54:39 AM

I wouldn't buy BTC right now,because the transaction fees are still high.I would probably wait until the mining difficulty gets adjusted and fees are back to normal.

Bitcoin fee is really very important if you want invest in bitcoin? I don't understand actually what did you mean by that. But yeah this bitcoin high tnx fee makes bitcoin not usable in real life.

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Quote from: davis196 on April 27, 2021, 06:54:39 AM

I wouldn't buy BTC right now,because the transaction fees are still high.I would probably wait until the mining difficulty gets adjusted and fees are back to normal.

If you are buying on a centralized crypto exchange that has fixed withdrawal fees I see no reason why you would not buy BTC at any time? In addition, miners fees have dropped drastically in the last 24-48 hours, anything above 15 sat/vbyte means confirmation in the next 2-3 blocks.

Everything the OP has written makes some sense, although I don’t agree that it is related solely to this moment - because to be honest, those who wanted to buy as cheaply as possible did so when the price dropped below $50k. The problem is that some are persistently expecting a big correction that will bring the price to where it was at the end of last year - but for them the best message would be to put their investment on hold until some new opportunity - FOMO is a bit of a paradoxical expression at the moment, because if we look solely from a profit perspective, that train has long since passed.

AicecreaME

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The most simple reason why anyone should invest to Bitcoin is for good profits and other advantage like no inflation and fast transaction unlike fiat. Buying on every correction is a good move, because in no time, price would likely go back to $60,000 and you'll have $7,000 instantly if you'll buy 1 Bitcoin.

But of course you don't have to use all of your funds to buy Bitcoin, it is much better to spend 50/50 on it, because if you'll use all of your funds, you'll be force to sell some of it in a very cheap price.

davis196

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During the last week,the forum was full with "sell your Bitcoin now" type of FUD shitposts.
Now,the "buy Bitcoin now" bullish forum posts are returning.I guess that we are getting back to normal.
OP,did you copy paste all this text from somewhere?Could you at least mention the author or the source?
I wouldn't buy BTC right now,because the transaction fees are still high.I would probably wait until the mining difficulty gets adjusted and fees are back to normal.
We already know the reasons to buy BTC mentioned on the list.There's no point of sharing this post,other than boosting your post count.

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The technology has been raised and develop better than before. Thats how bitcoin advantageous with the other investment. Those who wanted to manage their own money, be their own bank and the approach of adoption in bitcoin is highly achieved today.

As you can see big companies are joining the mainstream now, investing bitcoin, accepting crypto payments. This is one of the signs that the technology has been accepted fast by different fields to show the social impact of bitcoin.

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Quote from: UKprod on April 27, 2021, 03:03:36 AM

Quote from: GreatArkansas on April 26, 2021, 11:30:14 PM

Who will not buy with an asset that is already proven that can be a store of value, big companies have already proven it, especially Tesla, Microstrategy which recently Tesla tested their Bitcoin balance sheet if it can be liquidated easily, and viola, they able to do it with Bitcoin, not with fiat.
Speaking of scarcity, this is one of the best things for me, it's likely that Bitcoin is created just to UP only the price.

Yes, that's right! in the words of Elon, it makes more sense to store money in the form of Bitcoins rather than keeping it as cash. With Tesla and several large companies accepting Bitcoin, the demand for Bitcoin would naturally increase.

I feel it will be harder than ever for Bitcoin to go below the 48k-45k$ price, many of the "Institutional buyers" or companies like Microstrategy are waiting to increase their holding in BTC. The average price of all their BTC holding is still below 27k$ and we have seen them buying even at 52k$ price. By looking at the charts, it looks like there are some more entities like MicroStrategy who are waiting for the opportunity to get in.

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Quote from: GreatArkansas on April 26, 2021, 11:30:14 PM

Who will not buy with an asset that is already proven that can be a store of value, big companies have already proven it, especially Tesla, Microstrategy which recently Tesla tested their Bitcoin balance sheet if it can be liquidated easily, and viola, they able to do it with Bitcoin, not with fiat.
Speaking of scarcity, this is one of the best things for me, it's likely that Bitcoin is created just to UP only the price.

Yes, that's right! in the words of Elon, it makes more sense to store money in the form of Bitcoins rather than keeping it as cash. With Tesla and several large companies accepting Bitcoin, the demand for Bitcoin would naturally increase.

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Quote from: tygeade on April 26, 2021, 09:55:48 PM

Quote from: UKprod on April 26, 2021, 06:22:39 AM

While the above is my analysis of why Bitcoin should be purchased, please carry out your own analysis before you invest in Bitcoin. Further, while I have highlighted the reasons as to why Bitcoin needs to be purchased now, you should also consider various risks, legal/tax issues, etc. before you invest in Bitcoin.

Honestly I got five more other reasons why we should always buy even when bitcoin is into bearish mode. Few of your reasons are old or constant and not just due to recent correction of bitcoin markets, for example lost wallets and scarcity. I mean these are not just due to we are trading 20% down from the recent ATH, right? Any way, I like your analysis and reasoning.

Right now bitcoin market is trading above $53k levels which may not break $50k any more which means if we do not buy right now then we could never able to catch such a price levels forever. Yeah, there are good of chances for bitcoin prices to get doubled from the current levels in coming months hence buying right now will not make us regretting for sure.

Thank you for your comments and inputs! Yes, I do agree that few of the points have mentioned always existed and do not contribute to the current situation. I will try to correct them in my analysis in the future.

Further, I an eager to know the remaining reasons that you think we should buy bitcoin. It would be helpful for me to understand Bitcoin trading better. Thanks again.

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Quote from: GreatArkansas on April 26, 2021, 11:30:14 PM

Who will not buy with an asset that is already proven that can be a store of value, big companies have already proven it, especially Tesla, Microstrategy which recently Tesla tested their Bitcoin balance sheet if it can be liquidated easily, and viola, they able to do it with Bitcoin, not with fiat.

Unfortunately there are many of such people. If you look into the forum itself, there are people still waiting for lower low to happen so that they may buy more bitcoin for same capital, I believe those things may happen only in their dreams but I keep seeing such people always. Some people are always having their own reasons not not buying or keep delaying their entering into bitcoin holding.

The current market price of bitcoin must be a very good opportunity for all those people to get easy profits in short period of time. Not sure how many of us are going to make use of it.

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Who will not buy with an asset that is already proven that can be a store of value, big companies have already proven it, especially Tesla, Microstrategy which recently Tesla tested their Bitcoin balance sheet if it can be liquidated easily, and viola, they able to do it with Bitcoin, not with fiat.
Speaking of scarcity, this is one of the best things for me, it's likely that Bitcoin is created just to UP only the price.

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Quote from: UKprod on April 26, 2021, 06:22:39 AM

While the above is my analysis of why Bitcoin should be purchased, please carry out your own analysis before you invest in Bitcoin. Further, while I have highlighted the reasons as to why Bitcoin needs to be purchased now, you should also consider various risks, legal/tax issues, etc. before you invest in Bitcoin.

Honestly I got five more other reasons why we should always buy even when bitcoin is into bearish mode. Few of your reasons are old or constant and not just due to recent correction of bitcoin markets, for example lost wallets and scarcity. I mean these are not just due to we are trading 20% down from the recent ATH, right? Any way, I like your analysis and reasoning.

Right now bitcoin market is trading above $53k levels which may not break $50k any more which means if we do not buy right now then we could never able to catch such a price levels forever. Yeah, there are good of chances for bitcoin prices to get doubled from the current levels in coming months hence buying right now will not make us regretting for sure.

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If you are considering buying Bitcoin this time it was expected to have long-term investment purposes. The current price is so high and the risk is also high. People who'd come in here and bought Bitcoin are those who are willing to wait for several years to gain some profit but if you are just a short-term investor, I suggest waiting when the market will dump.

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Quote from: noorman0 on April 26, 2021, 09:08:22 AM

Quote from: UKprod on April 26, 2021, 06:22:39 AM

-snip-
3. Acceptance of Bitcoins by Corporations:

I think this is more appropriate as the reason for the long-term investment goal of bitcoin.
But unfortunately, people still think that the history of bitcoin in 2018 will repeat itself, without thinking that the signs of global adoption have started since big companies started using bitcoin in their business.

True that. The fall in 2018 after that epic run is still in the minds of many crypto enthusiasts that were around during that time. Even the new crypto users are being careful not to be a victim of such a situation but they've failed to realize that the support for Bitcoin right now is much more than it was 3 years ago. People are more than willing to buy bitcoin now compared to 2-3 years ago where everything was very much uncertain. But I do believe that with time, beliefs like this would be a thing of the past.

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I still somehow buy some BTC these week a little by little since we don't know or it's hard to determine how low it's dump will be or when it will bounce up again, whenever there is opportunity I just bought some since I still plan to hold it longer until more institutional companies invest into it. The price may still be higher but breaking the resistance and going below 50k dollar is still questionable, if we plan long term of holding and don't want to check every now and then the price then buying whenever you can or when you have extra can still be a good decision.

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Quote from: batang_bitcoin on April 26, 2021, 01:37:34 PM

On its increasing its price, halving has the main contribution on it. And it just getting better because there were corporations that have announced their support through investing in bitcoin too.
That's a force that's hard to stop and that's why we're seeing a good price for bitcoin. If there's a correction, usually, many are going to buy the dip and those who are negative thinkers will just have to pass it.

And those that are spreading negativities, like the seemingly end of bitcoin when it fell down below 50k, are now seeing that they are wrong.
Have you seen several threads discussing about the fall of bitcoin or some related topics in the past few days?
Now, they can see that the support is indeed strong, and so it goes up again. And with this increase, other alts follow thru.
Seems that the adoption this time is very different from previous years, where a lot of people are comparing it from previous years, to what may happen in the next coming days.

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On its increasing its price, halving has the main contribution on it. And it just getting better because there were corporations that have announced their support through investing in bitcoin too.
That's a force that's hard to stop and that's why we're seeing a good price for bitcoin. If there's a correction, usually, many are going to buy the dip and those who are negative thinkers will just have to pass it.

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Is the current moment the best time to buy Bitcoin? Personally, I doubt it a little. I can refer to my vision of the Elliott chart, where, in my opinion, the formation of a corrective wave B. After it, according to the theory, wave C should go, which continues the bearish trend. We should go below $ 50,000, according to theory. And there may still be complex corrections with a further fall. But in fairness, it must be said that the fall can be shallow. I wouldn't buy right now. Better to wait a bit.

Topic: 6 reasons why you should buy Bitcoin right now (at USD 50K-53K) - page 4. (Read 653 times)