Topic: Bitcoin newbie looking for some advice (Read 261 times)

if we try tranding, you can understand candlestick and movement pattern is very important in trading, why? Because Candlestick can predict price movement of bitcoin in some candle forward. By understanding candlestick and movement pattern, then you can predict the trend that will happen.

I'm also talking about those past years crashes that was popular and made those skeptics to say that bitcoin is a bubble.
And the most popular crash that happened when bitcoin hits $19,000 ---> $6,000.

This is now part of the entire history of bitcoin market.

there is no certainty in the crypto of whether the value will continue to rise, which must constantly monitor the movement of value in the market. and the amount of money you mentioned in my opinion is good enough to start trading, and allows you to speculate on your own without much searching for the opinions of others.

If you want to invest and you think that you have enough money then you can be invested now, I think it will go up more this year. Don't wait for it to crash again because we don't know if that will happen again this month. It is also your decision if you want to wait before you invest. It is not wrong since we have our own perspective in life.

Good to know that you don't want to invest more than what you can afford to lose and if that is the amount you can invest in Bitcoin at moment then it is okey since you are still new to the crypto currency market. For you to become a season crypto currency trader you will need to have a good knowledge of technical and fundamental analysis of the market.

For a newbie it is advised that you should go through the important  topics related to bitcoin.Try to get information from all social media as it will help you alot to know about new things regarding the cryptocurrencies ,market value and many more.As a newbie it is advised that for buying new coins you should not use wrong means.If you can afford only then purchase the coins otherwise not.As anewbie you should prepare yourself for the ups and downs of market price.Bitcoin is virtual currency.As a newbie you should know that patience is very important in every investment.Don't panic when their is drop in the market value.

if you are talking about the recent drops (multiple of them) in the past 20 days, well those weren't exactly crashes, those were corrections that needed to happen because of the fast rise from $6000 to $9000 and they in fact keep the market healthy and they assure the rise continues upward as market takes a break and refuels for the continuation of the rally.

a crash is what happened from $10k to $6k and $6k was the price that everyone should have bought at because it was the bottom.

There is no safe if you come to the world of investment, everything takes effort and risky that you should experience. If you are still in school, just focus on your school. Especially if you invest by using your tuition, it is very dangerous, your life will be destroyed instantly.

Investing in bitcoin will be good if you use your savings money. Never ever occasionally to invest using the loan or money that you will need in the near term. You can use long-term investment, just put your money in your wallet and go away for several years, and you can open when you will get married. I suggest you focus on your school, bitcoin can stop your school if you really pursue the world of cryptos.

Do cost averaging. I'd say put like half of the money you want to put in right now because it's very likely to hit $10k fairly soon. But then spread out the rest of your money over the next month or two, buying a little each week. If it does happen to go down below what it is now then you have some money left to use down low. And if it goes higher than at least you got half your money in at the low price of $9k.

It's now worth $9,000.
You want to earn right if you want to then you better not waste any time right now because time will come that your investment will grow due to the demand of bitcoin.
The market crashed slightly many times but unless it doesn't go back to $8,500 you should buy already.

It is a good thing that you know how much you are willing to loose, hopefully you had invested on the 6k mark, since it is considerably low compared to bitcoin's price months before, since you are nee to crypto and wanted to be a trader, I would suggest to read investment books first, go with the basics, resear h about fundamental analysis and tecb ical analysis, after that use first a small amount of your bitcoin in trading, whag I did was, I searched one of the most volatile altcoin in the market and it XRP, since you will see trading pairs in your platform, understand how it works first, if the increase of the value of your altcoin is higher than bitcoin, once you sell them you will gain more bitcoins, or if the value of bitcoin goes down and your altcoin doesn't you still gain bitcoins, but be sure to know when to exit, do not get too emotional, and that is one part on your side that you need to discipline, always have an exit plan, do not greed take over. Lastly, once you are already earning in the market, keep in mind the basics, do not be complacent on your skills, always be updated and continue learning, most investors in the market fail because they do not continue learning, remember in crypto, innovations will always take place, before we only have power of work, now we have power of stake, then comes masternodes, sooner or later a new innovation will come in.

If you really want to try to invest try a small amount first because in terms of investment risk big losses.
will be more if you first deepen your learning in terms of bitcoin because it will be very useful later. It would be better if you are following the airdrop or bounty company because it does not need to spend a lot of money enough stable internet you can work and also time to be patient in this case, you will produce some altcoin in the results of your work.

With a beginner there's a lot of things to keep in mind, I think if you spend some time in the day reading and exploring the news and participating in forums to find out. Get the knowledge you need to know you will understand the virtual currency very quickly.

if you are still a student and do not intend to invest in the world of crypto I suggest you to further deepen the knowledge of bounty and airdrops program. because it does not require capital in the form of money and will not harm you financially

Generally speaking, for beginners, it can be understood that the currency is divided into two categories: mainstream currency and acoin currency.

but that the nemesis with something you need to start. each newcomer collects a small start-up capital and begins to trade. Or, in extreme cases, starts with the company's Bounty. It all works and studies information at the same time.

Do you really believe that BTC is worth 6k, OP? With that attitude you might as well quit trading already
My advice is: don't ask people on the forum and don't go to any pump groups to get the answers. If you really want to invest there are 2 things you can do:
1. Read about BTC and decide if you think that it's going to succeed. If you believe in it just buy and hold. I'm doing it for years with huge success.
2. Read investopedia, learn, analyse predictions of other people on tradingview and see what they are doing right and wrong. After a while you'll get a hold of it and start understanding the market better.

You can of course do both of these things but given your limited funds it might not work.

Firstly you can got choice, what tell them your mind. If your mind tell him hold,then you can do it now. Because this time to really hold.or if your mind tell him invest then you can do it now. But personally I tell you invest is always risky. So fair mind it...

If you are not comfortable to lose even a penny then it is not recommended to invest anything in this wild crypto market because things move very rapidly here and you cannot deal with it unless you have the ability to absorb some loss. As of now, Bitcoin is worth $9,257, and I am expecting the price will rise in this year and we will see a new all-time high level in this year itself. However, this is my personal opinion and might be completely wrong so do your own research before taking any investment decision. You can take the help of technical and fundamental analysis to predict the possibilities of Bitcoin price trends.

I advise you throw a hundred or two now since there is no real good buying point unless market has shown a bearish trend for a while. Nevertheless, do not invest all of your planned capital for your investment so that you can buy again at every dips. Always remember to buy every time price goes down by 1000$ or more so that when it spikes back, you will have a profit already. Better yet, hold those bitcoins long term and sell it after 2 years, price difference then and now would significantly be huge.