an important reminder: don't get killed in this bull run and protect yourself. - page 3.

amishmanish

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Quote from: Betwrong on June 02, 2020, 04:46:58 AM

Quote from: hatshepsut93 on June 02, 2020, 01:57:10 AM

I think having a few hours above some TA price level isn't enough to declare a bull market. With traditional market it's a week or more, so in Bitcoin it should be 2-3 days. Right now the price can easily go down again.

I agree that the advice is good, but I doubt that a lot of newbies will see it. From what I saw during the last bull run, a lot of noobs join when the bull run is in full swing and when the market is about to crash.

This happens all the time: newbies buy when the price peaks, and then they watch how it crashes, day by day. However, the key here is patience. People who were buying when the price was $1,132, in November 30, 2013, wouldn't regret it if they waited until 2017(especially the end of the year).

So, I think the main advice here would be: Buy only with money you can live without for 4 years, and you'll be okay, most likely.

Good advice to not over-invest. Newbies also often buy with the mindset to sell it when it doubles or triples. So, another important thing is to see your BTC holdings as a fiat generating asset. One time fiat profit should not be the end goal. You just monetize the asset in parts at your target price to cater to your needs or whatever while ensuring that you keep a significant portion purely as "BTC wealth"

In order to not fall in the same trap of servitude and consumerism, whatever level of BTC you hold, is your ticket out in the face of long term uncertainty of fiat economics.The wealthy of the world don't wrap up and sell off properties so that they can have billions as cash. They keep their wealth as long term assets that have been serving them for generations now. For people with non-fractional quantities of BTC, It has potential to serve as foundation of long-term wealth while giving fiat benefits as price increases.

Betwrong

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Quote from: hatshepsut93 on June 02, 2020, 01:57:10 AM

I think having a few hours above some TA price level isn't enough to declare a bull market. With traditional market it's a week or more, so in Bitcoin it should be 2-3 days. Right now the price can easily go down again.

I agree that the advice is good, but I doubt that a lot of newbies will see it. From what I saw during the last bull run, a lot of noobs join when the bull run is in full swing and when the market is about to crash.

This happens all the time: newbies buy when the price peaks, and then they watch how it crashes, day by day. However, the key here is patience. People who were buying when the price was $1,132, in November 30, 2013, wouldn't regret it if they waited until 2017(especially the end of the year).

So, I think the main advice here would be: Buy only with money you can live without for 4 years, and you'll be okay, most likely.

LogitechMouse

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I'm a bit happy that it finally reached the 5-digit price again after now many months.

In the chart, I see that the volume is very low. I'm not pessimistic but I think that this small rise will not last long and we may see a small correction within the next days. If this will not happen then it will be good but stay alert and always ready in whatever happen to it. Me as a long term investor, I don't visit the charts that much.

Haunebu

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I don't think this is a bull run or anything op. BTC is bullish definitely currently, but it has just broken the $10K barrier and it is way too early to jump to conclusions.

It needs to stay in that range and continue rising to call this a bull run properly. The current US-China issues probably led to this current surge in my opinion. Hong Kong investors could probably be the reason.

I suggest buying in small quantities and HODLING in the short term.

hatshepsut93

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I think having a few hours above some TA price level isn't enough to declare a bull market. With traditional market it's a week or more, so in Bitcoin it should be 2-3 days. Right now the price can easily go down again.

I agree that the advice is good, but I doubt that a lot of newbies will see it. From what I saw during the last bull run, a lot of noobs join when the bull run is in full swing and when the market is about to crash.

Jawhead999

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Quote from: btc_angela on June 02, 2020, 01:05:38 AM

Still early to say that we are in a bull run though, personally, I don't know the reason why the sudden surge in the first place, so it could be a bull trap for all we know.

Yes, but at least this is the good start for Holders while Bitcoin can reach 10K again after last 3 months ago.

These reminder is very important, I have seen so many users trapped on FOMO/Bullrun, such as What is the best advice for Bitcoin ATH investors ??

btccoffee

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Quote from: bitmover on June 02, 2020, 12:53:32 AM

Bitcoin just broke it historical resistance. We are above 10k and we may be starting a bull run again. Boom.

Things looks good now, but be careful if you are new here.

important reminder now for all newbies around. Don't get killed.

Just a reminder to all newbie here in bitcointalk or anywhere around the world, hope this help to some of our crypto lover friends out there, make your own research and invest the you can afford to lose only. I remember back in 2017 so many people are panic buying bitcoin at the very peak price at almost 20k some of them are already sell there bitcoins in a lower price and some are still holding and waiting for a chance to sell there bitcoin at a higher price.

joniboini

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Volume is still really low, and the close is not really perfect either. I'd swap my coins for stable coins for a while, at least until we get a clear single candle breaking the trend line.

A part of me believes that this is a fake-out but of course, I'd be more than happy if I'm wrong.

pakhitheboss

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This applies to everyone here not only newbie. FOMO can cause you big loss if the Bull run starts. So keep calm and do your research before ente into the market. Those who are HODLing think twice before selling you Bitcoin and when sold donot think twice.

cryptoaddictchie

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This is a good news. Seeing the trend line today is a good sign of a healthy market. I am expecting some retracement around 9.7 to 9.8k because the movement is so rapid but will observed for the next hours.

Quote from: mk4 on June 02, 2020, 12:56:02 AM

Just make sure that you won't be one of those people, unless you're fine with holding for more than a decade.

For long term investors it works but for those who have weak heart when they see their portfolio red then definitely this investment that so volatile is not for them.

_{Be careful for those who are doing futures, dont get swayed by the market better read and analyze its pattern and dont just jump into fomo of long position.}

btc_angela

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Still early to say that we are in a bull run though, personally, I don't know the reason why the sudden surge in the first place, so it could be a bull trap for all we know. Also we have been trying to breach this barrier pre-halving and every time we touches it, the price goes down, meaning the growth is not sustainable.

But good advise specially for those newbies who think that bitcoin is a get rich scheme. The last great bull run has taught us a lesson, don't be irrational and emotional, otherwise you will get burned early.

mk4

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This should apply to whatever the market sentiment is, but yea. Unfortunately, the way bull runs work, there will always be people that's going to be buying near the top, and there will always be people that's going to get crapped. Just make sure that you won't be one of those people, unless you're fine with holding for more than a decade.

bitmover

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Bitcoin just broke it historical resistance. We are above 10k and we may be starting a bull run again. Boom.

Things looks good now, but be careful if you are new here.

important reminder now for all newbies around. Don't get killed.

Topic: an important reminder: don't get killed in this bull run and protect yourself. - page 3. (Read 1422 times)